Company News - TSMC's second-quarter net profit exceeded market expectations, reaching a historical high, resulting in a stock increase of over 3% [1] - Mira Murati, former CTO of OpenAI, announced that her AI startup, Thinking Machines Lab, completed a $2 billion seed funding round, with participation from notable investors including Nvidia and AMD [5] - Geely Automobile signed a merger agreement with Zeekr, allowing Zeekr shareholders to choose cash or Geely shares as compensation, which is seen as a key step in Geely's strategy to consolidate under "One Geely" [6] - Apple showcased its collaboration with three Chinese suppliers at the China International Supply Chain Promotion Expo, emphasizing its commitment to local supply chain development [7][8] - Tesla revealed images of its upcoming six-seat Model Y L, expected to launch in the fall, with a longer wheelbase compared to the standard Model Y [8] Industry News - The unemployment rate in Australia unexpectedly rose to 4.3% in June, the highest level since November 2021, leading to market speculation about potential interest rate cuts by the Reserve Bank of Australia [4] - President Trump indicated plans to impose tariffs on over 150 minor trade partners, potentially setting rates between 10% and 15% [2] - Concerns arose regarding the independence of the Federal Reserve as Trump hinted at the possibility of dismissing Chairman Powell, which could create economic uncertainty [3]

"独角兽企业龙岗行"活动不仅是一次全方位展示龙岗区未来产业生态与发展机遇的重要窗口，更是一次高规格、高质量的招商引资与企业落地的实践平台。 龙岗区正全面贯彻落实区委新发展理念，通过"有效市场"与"有为政府"的高效结合，全力构建营商环境改革的主阵地、投资创业的优选地，打造"有意思、 有商机、有得住、有品质"的现代化城区典范。 908 深展示 7 URSEEKS C @ w = D your with 4111 HIND the state 11475 13593 构建"诉求直通车"机制，龙岗区创新设立"三张清单"对接模式：一是企业需求清单，近20家独角兽企业现场提报技术合作、场景开放、政策支持等诉求；二 是政府资源清单，区发改、科创、工信、人机署等10余个部门现场解读绿色低碳、产业空间、研发补贴、人工智能等专项政策；三是场景机会清单，发布龙 岗区低空经济航线规划、智能网联车场景合作项目。同时，龙岗区对达成意向企业提供"一企一专员"全流程跟踪服务，依托独角兽企业服务联盟构建长效合 作生态，建立独角兽企业常态化对接机制。 7月17日，在培育新质生产力、抢占未来产业制高点的战略背景下，深圳市龙岗区组织举办了"独角兽企 ...

清华大学五道口金融学院不动产金融研究中心于7月12日在京举办《城中村改造的金融创新》课题中期研讨会，聚焦城中村改造如何通过政策协同、工具 创新及模式闭环推动良好生态构建。会议总结：破解城中村改造瓶颈的核心在于构建可持续的商业模式。对此，应厘清项目合规性基础，针对不同改造模 式设计分类工具与政策方案，最终形成覆盖城中村改造全生命周期的良好金融生态。 本次会议由学院不动产金融研究中心主办。中国证监会原主席肖钢，中国房地产业协会副会长兼秘书长张其光，中国人民银行金融研究所所长丁志杰，住 房和城乡建设部住房保障司副司长翟波出席会议。来自深圳安居、建设银行、中咨公司、中金公司、中伦律所、山西建投、鑫苑集团的20余位课题组专家 及行业机构领导参会研讨。清华大学五道口金融学院研究员、不动产金融论坛秘书长魏晨阳开场发言。不动产金融研究中心研究总监郭翔宇主持会议。 【图为会议现场】 导读 在课题研讨环节，相关政策部门、金融机构和业界专家围绕课题深化方向和行业核心痛点提出了宝贵的指导意见，从宏观形势、模式研判、金融工具创 新、可持续商业模式以及现实困境等多个维度进行了深入解读。 丁志杰围绕城中村改造的模式创新与政策支持提出三点思 ...

Group 1 - The U.S. stock market showed mixed performance with the Dow Jones up 0.06%, Nasdaq down 0.04%, and S&P 500 up 0.02% [1] - Ethereum-related stocks surged, with GameSquare rising over 50%, BTCS up over 22%, BMNR up over 15%, BTBT up over 12%, and SharpLink Gaming up over 11% [1] - Chinese concept stocks faced declines, with the Nasdaq Golden Dragon China Index down over 2%, Baidu down over 7%, and other companies like Kingsoft Cloud, NIO, Douyu, Beike, and Xunlei down over 3% [1] Group 2 - AMD announced plans to restart exports of its MI308 AI chips to China following U.S. approval for sales [6] - ASML reported Q2 revenue exceeding expectations but warned that it may not achieve growth by 2026 due to various uncertainties [7]

Group 1: Market Performance - The US stock market opened higher with the Dow Jones up by 0.33%, Nasdaq up by 0.18%, and S&P 500 up by 0.22% [1] - Individual stocks saw significant movements, with ASML dropping over 8% due to a change in the CEO's outlook for 2026 growth [1] - Cryptocurrency-related stocks like SharpLink Gaming surged over 16% [1] Group 2: Global Economic Policies - France plans to raise taxes on the wealthy to alleviate a fiscal deficit crisis, aiming to save €43.8 billion over four years [2] - Measures include freezing government spending, reducing the number of civil servants, cutting social benefits, and imposing temporary taxes on high-income earners [2] Group 3: Federal Reserve Leadership - Kevin Hassett, a former economic advisor to President Trump, is emerging as a leading candidate to succeed Jerome Powell as the next Federal Reserve Chair [3] Group 4: Cryptocurrency Legislation - The US Congress is reviewing key cryptocurrency legislation, including the "Stablecoin Innovation Act," which aims to establish a federal regulatory framework for stablecoins [4] - The bill has already passed the Senate and is expected to encourage wider adoption of stablecoins in traditional payment systems [4] Group 5: Company Developments - Yiming Foods received investment from a state-owned fund, which will support its dairy breeding projects and genetic improvement initiatives [5] - The investment includes a capital increase of 45 million yuan for a 30% stake in its subsidiary, Zhejiang Zhongxing Livestock Technology [5] - Yiming Foods is also investing an additional 75 million yuan to bolster its subsidiary's technological research [5] Group 6: Automotive Industry - Tesla is expected to launch a six-seat version of the Model Y in the fall, as indicated by a recent announcement from the Ministry of Industry and Information Technology [6] Group 7: Financial Performance - Morgan Stanley reported Q2 revenue of $23.7 billion, a 5.8% year-over-year increase, exceeding market expectations by $840 million [7] - The bank's earnings per share were $2.13, surpassing forecasts by $0.17, driven by strong performance in its stock trading division [7] - The trading division achieved its best-ever second-quarter results, benefiting from market volatility caused by Trump-era policies [7]

Core Insights - The 2025 China (Shenzhen) Unicorn Enterprise Conference will be held on July 17-18, focusing on "New Quality Driven, Future Navigation" to inject dynamic energy into Shenzhen's development as a global benchmark city [1] Group 1: Event Overview - The conference is guided by Shenzhen's government departments and co-hosted by various financial and research institutions, aiming to discuss innovation and development [2] - Key highlights include the debut of the "GEI China Unicorn Enterprise Research Report 2025" and the "Shenzhen Unicorn and Gazelle Enterprises Research Report 2025," which will provide quantitative analysis and insights into unicorn growth and industry trends [2] - The establishment of the "Unicorn Enterprise Service Alliance" will create a comprehensive service network for innovative enterprises, covering policy alignment, financing support, and market expansion [2] Group 2: Value Creation - The conference will feature a "1+5" series of activities to create a full-chain connection platform, including a unicorn enterprise report release, cooperation negotiation meetings, and financing roadshows to address core needs of enterprises at various development stages [3] - Discussions will include topics such as "Intelligent Economy New Blue Ocean" and "Patient Capital and Enterprise Resilience Growth," fostering valuable exchanges of ideas [3] Group 3: Shenzhen's Unicorn Landscape - Shenzhen's unicorns are characterized by "hard technology" and innovation, with notable companies like Honor and Laplace leading in sectors such as integrated circuits and robotics [4] - The concentration of unicorns in cutting-edge technology fields, particularly in hard tech sectors, positions Shenzhen as one of the most active regions for unicorn enterprises in China [4] Group 4: Industry Participation - The conference will attract over a hundred unicorn enterprises from across the country, covering more than 20 cutting-edge sectors including AI, robotics, and biomedicine [5] - Local unicorns will serve as a vibrant "city business card," showcasing Shenzhen's industrial foundation and service networks, as well as successful case studies of companies transitioning from local to broader markets [5] Group 5: Growth and Policy Support - Shenzhen's unicorn growth trajectory reflects a shift from following to leading in innovation, with several companies successfully going public in recent years [6] - The introduction of the "Shenzhen Action Plan for Supporting the Development of Gazelle and Unicorn Enterprises (2025-2027)" will inject policy benefits into the innovation ecosystem, facilitating collective breakthroughs among unicorns [7]

Group 1 - The core discussion between NVIDIA's CEO Jensen Huang and Xiaomi's Lei Jun focused on AI-related topics, highlighting their mutual interest in the field [1] - Huang expressed admiration for Xiaomi's SU7 Ultra model, indicating his engagement with the automotive sector [1] - Huang emphasized the unprecedented opportunities that AI presents for both China and the United States [4] Group 2 - NVIDIA has received approval from the U.S. to resume sales of the H20 chip in China, which is designed specifically for the Chinese market [5] - Huang mentioned that there are many orders for the H20 chip, with some companies already awaiting formal shipping notifications from NVIDIA [5] - The H20 chip was developed to comply with U.S. export restrictions and is aimed at serving the AI acceleration needs of the Chinese market [5] Group 3 - Huang acknowledged the contributions of Chinese AI companies such as DeepSeek, Tencent, Alibaba, MiniMax, and Baidu in advancing global AI development [4]

Core Viewpoint - Pop Mart (9992.HK) reported a strong half-year earnings warning with revenue growth exceeding 200% and net profit growth surpassing 350%, yet the market reacted negatively with a stock price drop of over 5% on July 16 [1][4]. Group 1: Financial Performance - For the first half of the year, Pop Mart's revenue reached at least 13.7 billion yuan, with net profit not less than 4.1 billion yuan, and adjusted net profit potentially exceeding 4.6 billion yuan, surpassing the entire performance of the previous year [3]. - The significant growth in performance is attributed to three main drivers: increased global recognition of IP leading to revenue growth across all regions, a higher proportion of overseas revenue optimizing profit structure, and effective cost control along with economies of scale [3]. Group 2: Market Reaction - Despite the impressive earnings, the market's response was subdued, with analysts noting that the results only met the high expectations of buyers rather than exceeding them significantly [4]. - Morgan Stanley highlighted that Pop Mart's net profit was at the lower end of the buyer's expected range (4.5-5.5 billion yuan), and given the stock's 60% increase over the past three months and a staggering 588% rise over the past year, there may be short-term profit-taking pressure [4]. - The stock experienced significant volatility, including a sharp decline from a historical high of 283.4 HKD to 233.2 HKD within six trading days, resulting in a market value loss of nearly 40 billion HKD [4]. Group 3: Long-term Outlook - Despite short-term fluctuations, analysts remain optimistic about Pop Mart's long-term investment potential, citing its strong IP operation capabilities and monetization abilities through geographic and category expansion [4]. - Analysts recommend investors to buy on dips and have raised the target price to 340 HKD [4].

Group 1 - The urgency of fusion research is emphasized as a critical solution for developing zero-carbon sustainable energy to combat climate change [2][3] - Current renewable energy solutions are fundamentally limited and cannot significantly reduce existing carbon dioxide levels in the atmosphere [2][4] - Fusion energy is proposed as a necessary advancement to meet the growing energy demands of civilization while achieving carbon reduction goals [4][5] Group 2 - Fusion energy could lead to a transformative change in energy costs, potentially reducing electricity prices to mere cents per kilowatt-hour, which would revolutionize water resource management and agriculture [3][5] - The commercial viability of fusion energy is seen as a key factor in addressing environmental challenges and supporting sustainable development [3][6] - The focus of the New Energy Research Institute is on developing compact fusion technology to achieve low-cost electricity generation, aiming to surpass wind and solar energy in competitiveness [6]

Group 1: Market Overview - The US stock market experienced fluctuations, with the Dow Jones down 0.03%, Nasdaq down 0.05%, and S&P 500 down 0.14% as of the report [1] - Chinese concept stocks showed mixed performance, with NIO and Bilibili rising over 4%, while New Oriental fell over 3% [1] Group 2: Cryptocurrency Developments - Bitcoin reached a historic high, surpassing $120,000, marking a significant milestone for the cryptocurrency [4] - Cryptocurrency-related stocks saw substantial gains, with Bitcoin Mining rising over 30% and other companies like SharpLink Gaming and MARA Holdings also experiencing notable increases [1] Group 3: Corporate News - Nvidia's CEO Jensen Huang is set to hold a media briefing in Beijing on July 16, amid concerns from US senators regarding his interactions with companies that may violate US chip export controls [6] - Concerns have been raised about Apple's innovation capabilities in the AI era, suggesting that the company is lagging behind competitors since the loss of Steve Jobs [7] - Google has acquired talent and technology from the AI programming company Windsurf for $2.4 billion, following the collapse of a $3 billion deal with OpenAI [8][9] - Tesla's CEO Elon Musk indicated that shareholders will vote on whether to invest in his private company xAI, but he does not support the merger [10]