东莞证券表示，数据将成为推动人工智能发展的"新燃料"，AI存储容量需求将比2025年增长500倍，占 比超过70%，Agentic AI驱动存储范式改变。一方面，政策强力向算力芯片国产化方向倾斜，另一方 面，本土云厂商陆续上修资本开支，且积极适配主流国产芯片，国产算力生态有望加速构建。除AI算 力芯片外，先进制程晶圆代工、存储、先进封装等环节也有望受益。 本周一（9月22日），受摩尔线程科创板IPO上会催化，GPU概念表现强势，海光信息收涨10.70%，中 芯国际收涨6.25%，两股盘中均刷新历史价格新高。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 相关ETF方面，重仓两股的半导体设备ETF（561980）亦收涨3.33%，成交额1.9亿元。根据中证指数公 司数据，截至9月19日，中芯国际、海光信息分别为该ETF标的指数第四、第五大权重，占比分别为 10.03%、9.12%。该指数前十大权重还覆盖了中微公司、北方海创、寒武纪、华海清科、长川科技、拓 荆科技等设备、设计龙头股，合计占比超78%。 产品层面，目前AI芯片国产创新正加速推进。消息面上，近期华 ...

Group 1 - Hong Kong stocks opened slightly higher on September 23, with the Hong Kong Stock Connect Technology ETF (513860) rising by 0.23% at the time of reporting [1] - Notable gainers among the ETF's constituent stocks included InnoCare Pharma and Crystal International, both up over 3%, along with other companies like BYD Electronics and Kingsoft [1] - The Hong Kong Stock Connect Technology ETF closely tracks the CSI Hong Kong Stock Connect Technology Index, which selects 50 large-cap, high R&D investment, and fast-growing revenue technology companies to reflect the overall performance of technology leaders in the Hong Kong Stock Connect [1] Group 2 - According to Huatai Securities, the release of DeepSeek at the beginning of the year triggered the first round of revaluation of Chinese technology assets, with a second upward trend in tech stocks occurring in the third quarter due to AI concepts [2] - The recent rapid rebound in Hong Kong technology stocks is attributed to accelerated domestic AI developments, and there is potential for further improvement in market sentiment [2] - The current focus of technology companies on growth, combined with a stable domestic economic and policy environment, has reduced the equity risk premium [2]

Group 1: Partnerships and Collaborations - OpenAI and Nvidia announced a partnership agreement, with Nvidia planning to invest up to $100 billion to support OpenAI's data center and infrastructure development, deploying at least 10 gigawatts of Nvidia systems by the second half of 2026 [2] - OpenAI is reportedly collaborating with companies like Luxshare Precision to develop consumer hardware, potentially utilizing GoerTek's MEMS silicon microphone technology [4] - WeRide announced a partnership with Grab to launch the Ai.R autonomous driving service in Singapore, initially deploying 11 autonomous vehicles [9] Group 2: Company Leadership Changes - Oracle appointed Clay Magouyrk and Mike Sicilia as co-CEOs, while the current CEO Safra Catz will serve as the executive vice chair of the board [5] Group 3: Product Launches and Innovations - Baidu's Qianfan launched a new open-source visual understanding model, optimized for enterprise-level multimodal applications, with versions of 3B, 8B, and 70B [6] - Meituan released its first self-developed inference model, LongCat-Flash-Thinking, which improves training speed by over 200% and reduces average token consumption by 64.5% in specific benchmarks [8] - Huawei announced its self-developed HBM memory with a maximum capacity of 144GB and a bandwidth of 4TB/s, set to launch in 2026 [12] - Chipmaker MediaTek unveiled the Dimensity 9500, featuring the latest N3P process and advanced CPU and GPU capabilities, aimed at enhancing mobile performance [15] - Chipmaker Xindong Technology launched the Fenghua 3 GPU, integrating open-source RISC-V CPU with CUDA-compatible GPU for diverse applications [16] Group 4: Financial Activities and Market Movements - Baiwei Storage announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and brand image [17] - Daotong Technology plans to transfer 46% of its stake in Shenzhen Saifang Technology for a total of 109 million yuan, focusing on core business development [18] - Zero Gravity Aircraft Industry completed nearly 100 million yuan in A++ round financing to support the development of new energy aircraft [19] Group 5: Industry Trends and Insights - Brain Tiger Technology's founder highlighted that China's brain science research is transitioning from a "follower" to a "leader" stage, emphasizing the need for high-end talent and support for young researchers [11] - The domestic high-end flagship smartphone market is set for a series of new product launches, with OPPO and vivo announcing upcoming flagship models [20]

Core Insights - Walmart is quietly exploring new business opportunities in the traditional retail sector while the market focuses on its Sam's Club growth in China [2][7] - The company has opened four community stores in Shenzhen, emphasizing a "10-minute walk" shopping concept with a smaller store format [3][6] Group 1: Community Store Strategy - Walmart's community stores are characterized by three key aspects: smaller scale (approximately 500 square meters), a curated selection of essential products, and proximity to residential areas [4][5] - The community stores offer around 2,000 products, focusing on high-quality and cost-effective items, including fresh food and daily necessities [3][4] - The company aims to leverage its existing large store resources to support the community store model, indicating a strategy of resource sharing and complementarity [6][8] Group 2: Market Context and Competition - The community retail market in China is becoming increasingly competitive, with various players, including traditional retailers and new entrants, vying for market share [11][12] - Walmart's community store initiative is part of a broader trend where retailers are adapting to changing consumer preferences and the evolving retail landscape [9][10] - The community retail market is projected to grow significantly, with estimates suggesting a market size of 4.8 trillion yuan in 2024, increasing to approximately 5.2 trillion yuan by 2025 [12] Group 3: Future Prospects - Walmart's community store model has been validated and is set for larger-scale implementation in Shenzhen, with plans to expand to other regions in China [6][10] - The company is looking to establish a second core business alongside its successful Sam's Club operations, indicating a strategic pivot to diversify its revenue streams [8][9] - The competitive landscape will require Walmart to adapt its community store offerings to local market conditions to effectively meet consumer needs [13]

Group 1 - Hong Kong Junyao, the major shareholder of Wah Lee Group, plans to reduce its stake by up to 17,505,000 shares, representing 1.5% of the total share capital, within three months starting from October 14, 2025 [1] - The total cash amount from this reduction is estimated to be approximately 961 million yuan based on the closing price of 54.92 yuan per share on September 22, 2025 [2] - Wah Lee Group's revenue for the first half of 2025 increased by 10.4% year-on-year to 12.66 billion yuan, while net profit attributable to shareholders decreased by 11.1% to 1.67 billion yuan [3][4] Group 2 - The decline in profit is attributed to production disruptions during the ramp-up of new factories and a decrease in orders from some existing clients [4] - Wah Lee Group's primary market is the United States, accounting for 85% of its revenue, making it crucial for the company's performance [2] - The company remains confident in its long-term development despite challenges in the global sports shoe industry due to macroeconomic pressures and uncertainties in international trade policies [2]

Group 1 - The film industry sector has experienced significant adjustments, with major companies like Jin Yi Film hitting the daily limit down [1] - Other companies such as China Film, Xiangyuan Cultural Tourism, Huayi Brothers, Bona Film, Huazhi Digital Media, and Jiecheng Co. also saw declines [1]

南方财经9月23日电，房地产板块盘初走弱，首开股份、香江控股跌停，*ST南置、珠江股份、华侨城 Ａ、卧龙新能、津投城开等跟跌。 ...

Core Viewpoint - The recent announcement by Red Star Macalline (601828.SH) indicates a potential turning point for the company following the lifting of the detention measures against its core founder, Che Jianxing [1][3]. Company Background - Che Jianxing, born in June 1966, is one of the core founders of Red Star Macalline, having established the company in December 1990 and served as its chairman and general manager until August 2023 [3]. - In May 2023, Che Jianxing was placed under investigation by the Yunnan Provincial Supervisory Committee, leading to his detention [3]. - Following a significant change in the company's shareholding structure in 2023, Che Jianxing transferred 29.95% of his shares at a price of 4.82 yuan per share, totaling approximately 6.286 billion yuan, resulting in Xiamen State-owned Assets Supervision and Administration Commission becoming the new controlling shareholder [4]. Business Operations - As of the end of 2024, Red Star Macalline operated 77 self-managed malls, 257 managed malls, 7 strategic cooperation malls, and 33 franchised home furnishing projects, with a total operating area of approximately 20.33 million square meters [4]. Financial Performance - In the first half of 2025, Red Star Macalline reported a revenue of 3.337 billion yuan, reflecting a year-on-year decline of 21.01%, with a net profit attributable to shareholders of -1.9 billion yuan [4].

上海证券表示，黄金长期看多逻辑并未改变，后续可能进一步向上突破。我们认为全球去美元化、美联 储步入降息周期等黄金长期上涨的大逻辑并没有改变，如果时间拉长，黄金有望进一步向上突破。但是 这需要有新的变量发生，比如美国就业形势或通胀水平超预期下滑导致美联储态度进一步转鸽，或者特 朗普通过美联储理事人员变动成功对美联储施压，美联储超预期转鸽等等。 国新证券表示，黄金资产受去美元化趋势推动，央行持续购金提供长期支撑。短期非农数据下修及降息 预期增强市场避险情绪，金价上涨动力充沛。白银正从工业配角转向价值主角，投资逻辑由工业需求爆 发和金融属性觉醒共同驱动。AI与5G技术迭代或扩大供需缺口，金银比修复预期下，白银相较黄金具 补涨潜力。整体而言，黄金和白银资产在多重因素作用下，展现出较强的投资吸引力。 9月22日，黄金ETF（518880）收涨1.90%，当日午后成交额持续扩大，截至收盘超36亿元。同时，黄 金股票ETF（159321）当日午后亦震荡走高，收涨3.39%。 昨日黄金相关ETF表现走强，或受贵金属市场的价格走势影响。据Wind数据，9月22日盘中，现货黄金 再创纪录高位；当日现货白银盘中突破前高，创2011 ...

统计显示，5年来，银行业保险业通过信贷、债券、股权等多种方式，为实体经济提供新增资金170万亿 元，科研技术贷款、制造业中长期贷款、基础设施贷款年均增长27.2%、21.7%、10.1%。普惠型小微企 业贷款余额36万亿元，是"十三五"末的2.3倍。 我国金融体系着眼于支持科技创新的能力、强度和水平，积极满足科技型企业不同生命周期阶段的融资 需求。近年来，新上市企业中九成以上都是科技企业或者科技含量比较高的企业。目前A股科技板块市 值占比超过1/4，明显高于银行、非银金融、房地产行业市值合计占比。培育壮大耐心资本，保险资金 投资股票和权益类基金超5.4万亿元，余额较"十三五"末增长85%，同时强化科技保险保障，提供风险保 障超过10万亿元。对我国创新发展事业提供了有力的金融支撑。 原标题：21社论丨金融服务实体经济质效齐升，积极助力高质量发展 9月22日，在国务院新闻办公室举行的新闻发布会上，中国金融各部门负责人介绍"十四五"时期金融业 发展成就，并答记者问，总结我国在此期间金融事业取得的重大成就。 "十四五"时期，金融部门围绕为经济社会发展提供高质量服务，全面深化金融体制改革，提升金融治理 能力，健全金融机 ...