7月9日，由深圳证券交易所(以下简称"深交所")、江苏省证券业协会主办、广发基金管理有限公司协办 的"深交所ETF大讲堂"南京专场活动顺利举行。本次活动以"聚焦深市ETF(交易型开放式指数证券投资 基金)，共话ETF定投新趋势"为主题，吸引了江苏省内近300名金融机构代表、专业投资者及个人投资 者参与。活动中，监管机构、券商及基金公司专家齐聚，深入解读ETF定投策略创新方向，为投资者呈 现了一场兼具理论深度与实践价值的投资智慧盛宴。 深交所表示，接下来，将继续按照中国证监会统一部署，持续推出深市核心ETF单品定投策略和ETF组 合定投策略案例，开展全渠道、场景化定投策略投资者服务活动，通过发布案例手册和投教视频等方 式，普及ETF基金定投知识，分享"好用、管用"的策略工具，营造更加适配中长期资金入市的环境，努 力提高投资者获得感，助力推动ETF市场高质量发展。 ETF场景化定投策略 助力投资者把握机遇 活动伊始，江苏省证券业协会相关负责人指出，ETF作为一种高效、透明、低成本的工具化产品，近年 来在国内市场快速发展，已成为投资者进行资产配置的重要选择。 景顺长城基金聚焦创业板50指数，其开发的"500日均线" ...

Group 1 - The Ministry of Culture and Tourism (MCT) is enhancing collaboration with public security and market regulation departments to address illegal practices such as forced shopping in the tourism sector, especially during the upcoming summer travel peak [1][2] - A one-year special rectification campaign has been launched to tackle forced shopping issues in the tourism market, focusing on key areas such as travel agencies, shopping venues, and online tourism operators [2] - The MCT aims to implement comprehensive supervision, combining preventive measures and punitive actions, while ensuring coordination between source and destination markets [2] Group 2 - The National Market Supervision Administration is intensifying price regulation in tourism-related sectors, including accommodation, dining, and ticketing, particularly during peak holiday periods [3] - In 2024, the national enterprise credit information public system recorded 26,000 administrative penalty cases in the cultural and tourism sector, highlighting the emphasis on credit constraints [3] - Regulatory actions against illegal tourism advertising have been strengthened, resulting in significant deterrence against such violations [3]

Core Viewpoint - The demand for high-end electronic resins is increasing due to the global PCB industry shifting to China, with the company Tongyu New Materials planning to raise funds for expanding production capacity to meet this demand [1][3]. Company Summary - Tongyu New Materials is set to be listed on the Shenzhen Stock Exchange on July 10, primarily to raise funds for its subsidiary's project to produce 200,000 tons of electronic resin annually, addressing capacity constraints [1]. - The company has a production capacity utilization rate projected at 100.04%, 105.93%, and 116.37% for the years 2022 to 2024 [1]. - The chairman of Tongyu New Materials emphasized that the fundraising project will effectively expand the company's production capacity and enhance its competitive and profitability capabilities [1]. Industry Summary - China is currently the largest producer of copper-clad laminates globally, but the high-performance electronic resins used in these laminates are still dominated by companies from the US, South Korea, Japan, and Taiwan, indicating a significant domestic supply gap [2]. - The electronic resin market is crucial for the production of copper-clad laminates, semiconductor packaging materials, and other electronic components, which are essential for high-tech industries [1][2]. - The demand for electronic resins is expected to rise with the development of high-density interconnect printed circuit boards, driven by trends in miniaturization and lightweight electronic products [2]. - The company is focusing on R&D, with a compound annual growth rate of 20.28% in R&D investment from 2022 to 2024, aiming to reduce reliance on foreign suppliers and increase the domestic production rate of high-performance electronic resins [2][3]. - The market for high-performance electronic resins is anticipated to grow significantly due to the ongoing advancements in 5G and 6G communication technologies, AI computing power, and automotive intelligence [5].

北京智帆海岸营销顾问有限责任公司首席顾问梁振鹏在接受《证券日报》记者采访时表示："在AI大模 型落地过程中，AI一体机作为集成化解决方案，能够提供'开箱即用'的便捷性，为各行业用户提供了一 条便捷、安全且高效的应用路径，因此受到市场青睐。" 随着AI（人工智能）大模型应用落地进入加速期，AI一体机的市场需求不断攀升。7月9日，广州市品 高软件股份有限公司（以下简称"品高股份"）与江原科技（广州）有限公司（以下简称"江原科技"）联 合举办新品发布会，双方联手推出品原AI一体机。 今年以来，多家头部企业的AI一体机上新。4月份，曙光信息产业股份有限公司（以下简称"中科曙光 （603019）"）为湖南某高校量身打造的全栈国产一体机方案正式落地。2月份，神州数码（000034）集 团股份有限公司（以下简称"神州数码"）的神州鲲泰问学一体机在第三届北京人工智能产业创新发展大 会上发布新品，为企业提供高性价比的智能化升级方案。 "展望未来，随着技术的进步和成本的降低，AI一体机有望在政企市场快速拓展，具有巨大的发展潜 力。"盘古智库（北京）信息咨询有限公司高级研究员余丰慧表示。 企业抢滩一体机市场 记者梳理发现，除了品高 ...

Group 1 - Zhejiang Yongqiang announced an increase in registered capital for its subsidiary JJD Metal Furniture (Thailand) Co., Ltd. from 5 million THB to 252 million THB, with Hong Kong Yongqiang holding 10% and Singapore Yongqiang holding 90% [1] - The capital increase is part of Zhejiang Yongqiang's global strategic layout and aims to meet the operational funding needs of the Thailand project, adapting to changes in international trade and customer demands [1] - In 2024, Zhejiang Yongqiang achieved revenue of 5.675 billion CNY, with North America contributing 3.112 billion CNY (54.84%) and Europe contributing 2.150 billion CNY (37.87%) [1] Group 2 - The capital increase for Thailand Yongqiang is a continuation of Zhejiang Yongqiang's overseas manufacturing strategy, following a decision in April to invest up to 100 million USD in Hong Kong Yongqiang [2] - The dual-platform investment strategy through Hong Kong and Singapore reflects the company's mature and flexible overseas layout, enhancing capital efficiency and project implementation [2] - This investment will directly support the capacity construction and daily operations of the Thailand project, marking a key step in the company's transition from "manufacturing overseas" to "operating overseas" [2] Group 3 - Zhejiang Yongqiang has established a customer base covering major international supermarkets, including Costco, Home Depot, and Lowe's, enhancing its market influence [3] - The company is expanding its regional channels and leveraging overseas service teams to respond to diverse demands while enhancing brand recognition through partnerships with global outdoor furniture retailers [3] - The company is actively increasing production capacity in Southeast Asia, with its Vietnam factory already operational and the Thailand factory in preparation [3]

Core Insights - The establishment of trusted data spaces aims to resolve data circulation challenges and enhance the value of data elements through distributed architecture and consensus mechanisms [2][3] - The initiative is expected to create new opportunities for the data industry and significantly impact various sectors, driving high-quality economic development [2] - By 2028, the goal is to establish over 100 trusted data spaces, achieving breakthroughs in operations, technology, ecology, standards, and security [1] Group 1: Trusted Data Space Development - The National Data Bureau has announced a pilot list of 63 enterprises for the 2025 trusted data space innovation development project, categorized into urban, industry, and enterprise directions [1] - The project aims to cultivate a rich resource environment, innovative applications, and a prosperous ecosystem for trusted data spaces over two years [1] - Trusted data spaces are seen as essential infrastructure for data resource sharing and are crucial for building a unified national data market [1] Group 2: Industry Impact - Trusted data spaces are expected to facilitate efficient connections and cross-domain sharing of industrial data resources in key sectors such as equipment, new energy vehicles, and energy [2] - In the financial sector, trusted data spaces will enhance the sharing and deep mining of customer credit data and market risk data, improving risk assessment models [2] - The integration of government data, supply chain information, and consumer behavior in credit risk scoring models can significantly improve risk identification accuracy [2] Group 3: Financial Ecosystem Collaboration - The construction of trusted data spaces promotes collaboration and value co-creation within the financial ecosystem, involving banks, regulatory bodies, technology companies, and core enterprises [3] - Financial modeling, as a key tool in this ecosystem, provides precise decision support and risk management services by integrating diverse data resources and technologies [3] - The application of artificial intelligence and cross-industry data fusion is becoming a trend, expanding the use of financial modeling beyond traditional finance professionals to fields like accounting and finance [3]

Core Viewpoint - Since July, multiple listed companies have received administrative penalty notices from the China Securities Regulatory Commission (CSRC) for past violations, indicating a strict regulatory stance aimed at promoting compliance and protecting small investors [1][2]. Summary by Relevant Sections Violations and Penalties - The violations include false statements in periodic financial reports, insider trading by executives, and failure to disclose non-operating fund transactions [2][3]. - Specific cases include: - Jinglan Technology Co., Ltd. received a notice for false records in its 2020 annual report [3]. - Hubei Zhenhua Chemical Co., Ltd.'s general manager is suspected of insider trading [3]. - Inner Mongolia Knight Dairy Group failed to timely disclose losses from futures investments [3]. Investor Protection Mechanisms - Legal experts suggest enhancing the protection of small investors by improving the connection between regulatory penalties, judicial rights protection, and market education [4]. - Recommendations include shortening the rights protection cycle and reducing costs, as well as increasing investor education to improve risk recognition [4]. Regulatory Environment and Recommendations - Industry experts emphasize the need for detailed rules to establish a multi-dimensional investor protection mechanism, focusing on maintaining fair trading principles [5]. - The regulatory approach is characterized by a "zero-tolerance" policy towards violations, with a call for stricter oversight and enhanced internal controls within companies [5]. - Collaboration among regulators, companies, intermediaries, and investors is essential to create a robust risk control system [5].

Group 1 - Anker Innovations showcased its audio brand Soundcore at the 2025 Feishu Future Unlimited Conference, highlighting AI-driven acoustic innovations [1][2] - The conference, hosted by ByteDance's Feishu, focused on "AI-driven future" and attracted over 2,000 executives and media representatives from various industries [1] - Soundcore has become one of the top three wireless headphone brands globally, with over 52 million users, and has received multiple international awards [2] Group 2 - Anker Innovations has established a knowledge collaboration network on the Feishu platform with approximately 20 million documents [3] - The company has achieved significant advancements in customer service automation, marketing, software development, and product operations through AI integration [3] - Anker Innovations aims to deepen its exploration of AI in global user insights and smart product development, aspiring to become a beloved global brand [3]

Group 1 - In June, Xiangjie S9 delivered 4,154 units, maintaining its position as the top-selling electric sedan in China with over 300,000 units sold [1] - The success of Xiangjie in the high-end sedan market, a segment that has been challenging for Chinese brands for over two decades, is attributed to its deep connection with users [1] - The "Yuexiang Zicheng" 2025 Xiangjie User Star Enjoy Night event highlighted the brand's commitment to user engagement, showcasing user-driven initiatives and a user-centric approach [1] Group 2 - The Xiangjie Super Factory features advanced manufacturing technologies, including digital flexible production lines, AI quality inspection, and an ADS intelligent driving calibration center, representing a pinnacle of domestic smart manufacturing [2] - The factory emphasizes transparency in the manufacturing process, allowing users to see how their vehicles are made, which enhances trust and connection between the brand and its customers [2] - A new travel vehicle from Xiangjie is set to launch in the fall, indicating the brand's ongoing commitment to expanding its product lineup based on user needs [2]

资本市场助力培育农业新质生产力的现状和问题。从融资结构看，间接融资仍占主导，直接融资比例偏低。从市场层次 看，主板市场门槛较高，多数农业科技企业难以达到上市标准；新三板、区域性股权市场流动性不足，融资功能发挥不充分。 从产品供给看，适合农业科技企业特点的金融产品创新不足，特别是针对研发周期长、风险高的早期项目的融资工具缺乏。从 风险管理看，农业新质生产力的培育具有高风险特征，包括技术研发风险、市场接受风险、政策调整风险等，而现有金融体系 缺乏有效的风险分担和对冲机制。农产品期货、保险市场有一定发展，但品种仍不够丰富，农民合作社等新型经营主体参与度 低。风险投资、私募股权等风险资本对农业科技领域的关注度相对较低，导致早期项目融资困难。 三、资本市场更好助力培育农业新质生产力的思考 一是完善多层次资本市场体系。进一步优化各层次市场功能定位，形成错位发展、有机衔接的市场格局。对于成熟期农业 科技企业，支持其在主板、创业板、科创板上市融资；对于成长期企业，深化新三板改革，提升市场流动性和融资功能；对于 初创期企业，发展区域性股权市场，拓宽早期融资渠道。同时，研究建立农业科技企业上市培育库，实施分类指导、梯度培 育，推 ...