Macro News - The International Monetary Fund (IMF) has significantly raised China's economic growth forecast for this year by 0.8 percentage points to 4.8%, reflecting stronger-than-expected economic activity in the first half of the year and lower actual tariff rates compared to previous predictions [4] - In the first half of the year, state-owned enterprises in China reported total operating revenue of 4,074.96 billion yuan, a year-on-year decrease of 0.2%. Their total profit amounted to 218.25 billion yuan, down 3.1% year-on-year, and tax payments were 300.26 billion yuan, a decline of 0.8% [4] Industry News - Hong Kong's "Stablecoin Regulation" will come into effect on August 1, with the Hong Kong Monetary Authority releasing five regulatory documents for licensed stablecoin issuers [7] - The China Photovoltaic Industry Association issued a statement refuting claims made by some media regarding "anti-involution" in the photovoltaic industry, particularly concerning polysilicon, stating that the reports were severely inconsistent with actual conditions [7] Company News - WuXi AppTec announced an adjustment to its share repurchase price ceiling to no more than 114.15 yuan per share [11] - The PCB industry is experiencing a significant improvement in market conditions compared to the same period last year, especially for high-end products, with strong demand and rising prices [9] - Changchun High-tech announced that its innovative drug, Amlodipine Besylate Oral Solution, has received approval from the FDA for market launch in the United States [12]

（本文来源：中央气象台） 中央气象台发布消息：今年第8号台风"竹节草"（热带风暴级）今天（30日）04时30分在浙江舟山朱 家尖岛登陆，登陆时中心附近最大风力9级（23米/秒，热带风暴级），中心最低气压为975百帕。 台风最新位置图 ...

何立峰表示，中美双方经贸团队要以两国元首6月5日通话重要共识为指引，秉持相互尊重、和平共 处、合作共赢的原则，尊重各自关切，进一步巩固共识，加深互信。中方对中美经贸关系的立场是一贯 的，中美经贸关系的本质是互利共赢，双方在经贸领域拥有广泛共同利益和广阔合作空间，中美合则两 利、斗则俱伤。稳定、健康、可持续的中美经贸关系不仅有利于实现各自的发展目标，也有利于促进世 界经济的发展与稳定。 下一步，双方应继续按照两国元首通话重要共识，充分发挥好中美经贸磋商机 制作用，不断增进共识、减少误解、加强合作，进一步深化对话磋商，不断争取更多双赢结果。 据新华社，当地时间7月28日至29日，中美经贸中方牵头人、国务院副总理何立峰与美方牵头人、 美国财政部长贝森特及贸易代表格里尔在瑞典斯德哥尔摩举行中美经贸会谈。双方就中美经贸关 系、宏观经济政策等双方共同关心的经贸议题开展了坦诚、深入、富有建设性的交流，回顾并肯定 了中美日内瓦经贸会谈共识和伦敦框架落实情况。 根据会谈共识，双方将继续推动已暂停的美方对 等关税24%部分以及中方反制措施如期展期90天。 美方表示，稳定的美中经贸关系对两国乃至全球经济具有重要意义，愿与中方一道， ...

据新华社， 中国商务部国际贸易谈判代表兼副部长李成钢29日说，在过去一天半时间里，中美双 方经贸团队根据两国元首6月5日通话共识，继续发挥中美经贸磋商机制作用，就彼此关注的重大议 题进行了深入、坦诚、建设性的交流。 李成钢表示， 根据中美双方共识，双方将继续推动美方已暂停的对等关税24%部分以及中方反制措施 如期展期。 李成钢说，中美双方经贸团队将继续保持密切沟通，就经贸议题及时交流，继续推动双边经贸关系稳定 健康发展。 ...

在最新报告中，IMF对美国今明两年的经济增长展望为1.9%和2%。而欧元区近两年的经济增 长预期也上调至1%和1.2%。需要指出的是，这份报告并未涉及欧美之间初步达成的贸易协 议，美国将对几乎所有欧洲进口商品征收15%的关税，势将对双边经济都造成拖累。 综合央视新闻、第一财经等媒体报道， IMF预计今明两年的全球经济增长率为3.0%和3.1%， 分别较4月的预测调高了0.2和0.1个百分点。 需要强调的是，即便有所上调，2025年的全球 经济增速仍要慢于去年的3.3%，反映美国关税对全球经济的拖累。 主要经济体方面， IMF将中国2025年的增长率较4月预期上调了0.8个百分点，达到4.8%。 调整的主要原因，是为了反映2025年上半年中国经济活动强于预期，且中美实际关税仍比4月 预期的低很多。与此同时，尽管中国对美国的出口下降，但被对其他国家的强劲销售所抵消。 受到财政措施的支持，消费也在一定程度上对经济增长作出贡献。 北京时间周二晚21点，国际货币基金组织（IMF）发布题为《持续不确定性下的脆弱韧性》 （Tenuous Resilience amid Persistent Uncertainty）的7月世 ...

Group 1 - The article highlights the importance of weekly announcements from Sunday to Thursday, which include significant stock market updates such as suspensions, increases or decreases in holdings, investment wins, acquisitions, performance reports, unlocks, and high transfers [1] - Key sectors mentioned include PCB, PET copper foil, solid-state batteries, storage chips, and new energy vehicles, with a specific company involved in NVIDIA projects and 400G/800G optical module fields [1] - Another company is noted for its strategic cooperation framework agreement related to humanoid robots, solid-state batteries, computing power, and AI chips [1] Group 2 - The article discusses a company with 24 key products across 28 indications entering clinical stages, including 9 first-class innovative drugs in the fields of innovative drugs, biological vaccines, traditional Chinese medicine, and medical aesthetics [1]

Core Viewpoint - The PCB market is experiencing a structural transformation driven by the demand for high-end products, particularly in AI-related applications, leading to a significant increase in both demand and prices for high-end PCBs [1][3][4]. Group 1: Market Conditions - The current PCB market is characterized by a shortage of high-end products and pressure on low-end products, with overall market conditions improving compared to last year [1][2]. - Many PCB companies have reported positive earnings forecasts for the first half of the year, with some companies experiencing significant growth, such as a 3.7 times increase in net profit for certain firms [2][3]. - The demand for high-end PCBs is being driven by the rapid growth of AI server hardware, which requires advanced PCB technologies [3][9]. Group 2: Company Performance - Major companies like Pengding Holdings and Huadian Electronics are seeing substantial increases in net profits, with expected growth rates exceeding 40% year-on-year [3][6]. - Companies involved in the production of electronic-grade fiberglass and copper-clad laminates are also reporting significant increases in sales and profitability due to rising demand [2][6]. - The overall order saturation for PCB manufacturers is reported to be over 90%, indicating strong market demand [6][7]. Group 3: Future Projections - The global PCB market is projected to grow significantly, with estimates suggesting a market value of $78.6 billion by 2025, driven by advancements in AI and high-performance computing [4][8]. - The demand for high-layer and high-density interconnect (HDI) boards is expected to grow at rates of 14.2% and 18.5%, respectively, indicating a shift towards more complex PCB designs [8][10]. - The industry is likely to face challenges related to potential overcapacity as more companies announce expansion plans to meet the surging demand for high-end PCBs [10][12]. Group 4: Technological Advancements - The shift towards high-end PCBs is accompanied by increased technical barriers, with only a few manufacturers capable of producing advanced PCBs that meet the requirements of AI servers and high-speed data transmission [9][11]. - Companies are investing heavily in new technologies and production capabilities to meet the evolving demands of the market, including investments in low-loss materials and advanced manufacturing processes [5][10]. - The regulatory environment is also pushing companies to focus on high-quality production and green manufacturing practices, further raising the competitive bar in the industry [11][12].

Group 1 - The shooting incident occurred at 345 Park Avenue, the global headquarters of Blackstone Group, affecting multiple financial institutions located in the same building, including the NFL headquarters and KPMG [1][3] - The shooter, Shane Tamura, entered the building with an AR-15 rifle and began shooting, resulting in five deaths, including himself, and multiple injuries [4][12] - Following the incident, significant areas of Midtown Manhattan were closed, impacting firms such as Citadel and Jefferies, as the number of major financial companies in Park Avenue has surpassed those on Wall Street [3][12] Group 2 - Blackstone Group's office is expected to remain closed for at least a week, with the company's leadership expressing the event as "unimaginable" and the "worst day in the company's history" [12][13] - An NFL employee was among the injured, with the NFL president advising employees to work remotely and offering the option to take a day off [13] - The motive behind the attack remains unclear, with police investigating the shooter's background, which includes a history of mental health issues [13]

Core Viewpoint - The China Photovoltaic Industry Association has issued a clarification regarding recent misleading reports about the photovoltaic industry, particularly concerning polysilicon, urging the public not to believe or spread rumors [1] Group 1 - The association emphasizes that the content circulated by some media is severely inconsistent with the actual situation [1] - The association expresses gratitude for the support from various enterprises and commits to advancing anti-involution efforts based on legal and market principles [1] - The goal is to quickly move away from harmful competition within the industry [1]

Core Viewpoint - The company has lowered its 2025 outlook, expecting a sales growth of 8%-14% at constant exchange rates, down from a previous expectation of 13%-21% [1] Group 1 - The reduced growth forecast is attributed to lower growth expectations for Wegovy in the U.S. obesity market [1] - The growth expectations for Ozempic in the U.S. GLP-1 diabetes market have also been lowered [1] - Wegovy's penetration in certain IO markets is below expectations [1]