Key Developments - Indonesia Discovery Program 2025: Healthcare aims to assist Chinese companies in navigating the Indonesian healthcare market through a three-day on-site visit program [2] - LoBo has received approval to expand its autonomous driving tests to Tung Chung, Hong Kong, with plans to enter Southeast Asia by the end of 2025 [3] - Transsion Holdings is reportedly exploring the two-wheeled electric vehicle market, having incubated the project for nearly three years [3] - WeRide has signed a cooperation agreement with Uber and Dubai's RTA to deploy commercial Robotaxi services in Dubai [4] - JD Logistics has launched a new B2C express delivery brand, JoyExpress, in Saudi Arabia [4] - Lao Pu Gold has opened its first store in Singapore, marking a significant step in its global expansion [5] Company Updates - JST Group Corporation has received approval from the China Securities Regulatory Commission for its IPO in Hong Kong, planning to issue up to 137,184,600 shares [6] - Beijing Yuxin Technology has submitted its listing application to the Hong Kong Stock Exchange [6] - Geely has signed a joint venture agreement with Renault to enhance its brand presence and market coverage in Brazil [6] - EHang has signed memorandums of understanding with ANRA Technologies and FAdeA to collaborate on urban air mobility services [7] - JinJing New Energy and Yiwei Lithium Energy have launched a global lithium battery recycling network platform [7] Market Trends - Meitu has achieved significant success in the European market, topping app store charts in Italy, Russia, and Turkey [8] - Alibaba International Station has reported a 42% year-on-year increase in platform orders since June, with a nearly 30% growth in GMV [10] - Alibaba Cloud is set to launch its second data center in South Korea to meet the growing demand for generative AI [10] - China's cross-border e-commerce export scale has surpassed 2 trillion yuan, with a 16.9% year-on-year increase [11] Investment and Financing - Yushu Technology has completed a C round financing, with a pre-investment valuation exceeding 10 billion yuan [16] - UniUni has raised over $70 million in D1 round financing to enhance its logistics capabilities [16] - E-ink Technology has secured approximately $123 million in E round financing for AI platform upgrades [16] - Raytheon Technology has completed a C round financing of several hundred million yuan to expand R&D and overseas markets [17]

Core Viewpoint - On June 20, a total of 9 stocks on the Sci-Tech Innovation Board experienced block trading, with a cumulative transaction amount of 77.84 million yuan [1][2]. Group 1: Trading Overview - There were 14 block trades executed, totaling 3.64 million shares and an aggregate transaction value of 77.84 million yuan [1]. - The stock with the highest transaction amount was Hongsoft Technology, with 2 block trades totaling 448,000 shares and a transaction value of 17.92 million yuan [1]. - Other notable stocks in terms of transaction value included Zhuhai Guanyu and Delong Laser, with transaction amounts of 15.83 million yuan and 9.48 million yuan, respectively [1]. Group 2: Price and Performance Analysis - The average discount rates for block trades relative to the closing prices were highest for Zhongyou Technology, Hongsoft Technology, and Chengdu Xian Dao, with discount rates of 13.40%, 10.25%, and 9.49% respectively [1]. - The only stock with a premium was Transsion Holdings, which had a premium rate of 1.96% [1]. - The Sci-Tech 50 Index fell by 0.53%, with 170 stocks rising, accounting for 28.91% of the total [1]. - Among the stocks involved in block trading, the average decline was 2.04%, with Delong Laser and Jinghe Integration showing gains of 2.86% and 0.41%, while Zhongyou Technology, Jingye Intelligent, and Ankai Micro experienced declines of 7.58%, 3.87%, and 3.51% respectively [1]. Group 3: Institutional Participation - Among the block trades, there were 5 transactions involving institutional buyers or sellers across 4 stocks [2]. - The leading stocks for institutional buying were Hongsoft Technology and Delong Laser, with amounts of 10.92 million yuan and 9.48 million yuan respectively [2]. - The stocks with the highest institutional selling amounts were Zhongyou Technology and Jingye Intelligent, with amounts of 8.40 million yuan and 2.00 million yuan respectively [2]. Group 4: Capital Flow - Two stocks saw net inflows of capital, with Hongsoft Technology and Jinghe Integration receiving net inflows of 234,790 yuan and 1,310 yuan respectively [2]. - Conversely, the stocks with the highest net outflows included Zhongyou Technology, Chengdu Xian Dao, and Ankai Micro, with net outflows of 49.71 million yuan, 11.33 million yuan, and 10.03 million yuan respectively [2].

Core Viewpoint - The company has been actively implementing a "Rural Revitalization" initiative since 2021, focusing on supporting local farmers and enhancing their income through targeted procurement of local agricultural products [1][10]. Group 1: Project Implementation - The company has conducted consumption assistance projects for five consecutive years, aligning with national rural revitalization strategies and deepening support for key assistance counties [1][10]. - In 2025, the company will focus on regions such as Sichuan, Yunnan, Guangxi, and Chongqing, emphasizing the procurement of local specialty agricultural products to help farmers increase their income [1][10]. Group 2: Regional Focus and Product Procurement - The company has executed targeted assistance in seven regions, including Sichuan, Yunnan, Guangxi, and Chongqing, procuring over ten categories of specialty agricultural products such as cured meats, sausages, and various rice types [3][5]. - In Meigu County, Sichuan, the company has purchased local specialty cured pork products to expand sales channels and alleviate inventory pressure for poverty-stricken households [3][5]. - In Yunnan's Xuanwei City, known for its ham production, the company supports local sausage production and promotes local brands through procurement [5]. - The company has also procured red rice and black rice from Guangxi's Luocheng County, helping local farmers achieve targeted sales [5]. - In Daxin County, Guangxi, the company has focused on purchasing hand-crafted brown sugar, supporting local production and sales [7]. - In Yunyang County, Chongqing, the company has procured local sausages to alleviate sales pressure for farmers [9]. Group 3: Employment and Income Impact - The consumption assistance initiative is expected to directly create over 200 jobs, with participating farmers projected to increase their income by approximately 3,000 yuan per person, primarily from order production, packaging, and logistics [9][10]. Group 4: Long-term Commitment and Future Plans - Over the past five years, the company's rural revitalization plan has expanded from targeted procurement to broader assistance paths, including educational resource improvement and infrastructure development [10]. - The company aims to continue leveraging its strengths to advance consumption assistance and rural education, focusing on optimizing mechanisms and enhancing project effectiveness [10].

Core Viewpoint - Transsion Holdings, known as the "King of Africa," is seeking new growth opportunities amid pressure on its mobile phone business, including the establishment of a new electric two-wheeler division to expand into related markets [3][4][10]. Group 1: Business Expansion - Transsion has formed a new mobility division to explore electric two-wheeler business, focusing on rapid deployment in Africa and other developing countries [4][5]. - The company has been testing electric two-wheeler projects in South Asia and Africa for nearly three years, with plans to launch products under the brand "Revoo" [9][5]. - Transsion is actively recruiting for positions related to electric motorcycles, indicating a serious commitment to this new venture [6][9]. Group 2: Financial Performance - In 2024, Transsion reported revenue of 68.72 billion yuan, a year-on-year increase of 10.31%, while net profit was 5.55 billion yuan, a slight increase of 0.22% [14][15]. - The company's first-quarter performance in 2025 showed a significant decline, with revenue dropping 25.45% year-on-year to 13.00 billion yuan and net profit down 69.87% to 490 million yuan [18][14]. - The African market remains crucial for Transsion, contributing over 30% of total revenue in 2024, although the gross margin in this region decreased by 1.46 percentage points [19][14]. Group 3: Market Position - Transsion holds over 40% market share in the African smartphone market, maintaining its position as the leader [22][21]. - In South Asia, Transsion also leads in Pakistan with over 40% market share, but its position in India has declined from 8.2% to 5.7% [24][25]. - The global smartphone market share for Transsion is 14%, ranking third among manufacturers, with an 8.7% share in the global smartphone market, ranking fourth [28][29]. Group 4: Competitive Landscape - Increased competition from brands like Xiaomi, OPPO, and Honor is impacting Transsion's market position, particularly as these competitors adopt more localized strategies in Africa [30][34]. - The shift in strategy by competitors to target smaller retail networks poses a challenge for Transsion, which has traditionally relied on local partnerships [33][34]. - The competitive pressure is expected to intensify as these brands leverage their domestic market revenues to invest in emerging markets [39]. Group 5: Electric Two-Wheeler Market Potential - The global electric two-wheeler market is projected to reach $74.9 billion in 2024, with an expected compound annual growth rate of 8.7% from 2025 to 2034 [43]. - Transsion's entry into the electric two-wheeler market is seen as a strategic move to tap into this growing segment, especially in overseas markets [40][45]. - However, the company will face significant challenges in establishing supply chains and marketing for electric two-wheelers, which require higher investment compared to its mobile phone business [45][50].

Core Viewpoint - Transsion Holdings (688036.SH) has reportedly established a mobility division to explore the two-wheeled electric vehicle market, although the company has not confirmed this information officially [2][12]. Group 1: Business Development - The company is actively recruiting for various positions related to its mobility business, indicating that its expansion into this new sector may have already begun [2][3]. - Job postings include roles for the independent brand "REVOO," which is focused on digital marketing and global media planning, suggesting a strategic approach to brand development in the electric vehicle space [3][6]. - The recruitment efforts encompass both consumer-facing (To C) marketing roles and enterprise-focused (To B) product development positions, targeting markets in Latin America and Africa [3][12]. Group 2: Financial Performance - Transsion's mobile phone business is facing growth challenges, with a reported revenue of 68.758 billion yuan in 2024, reflecting a year-on-year increase of 10.31% [12]. - The net profit attributable to shareholders was 5.549 billion yuan, showing a slight increase of 0.22%, while the net profit after excluding non-recurring items decreased by 11.54% to 4.541 billion yuan [12]. - The gross margin for the mobile phone business fell to 20.62%, down 2.63 percentage points from the previous year, with the gross margin in its core African market declining from 30.05% to 28.59% [12]. Group 3: Market Context - The two-wheeler market in Africa presents potential due to a large population and low vehicle ownership, with motorcycles being a common mode of transport [13]. - Challenges include weak electrical infrastructure, lack of charging facilities, limited purchasing power among local consumers, and the complexities of establishing production and supply chains [13]. - The company has previously shown interest in the broader mobility market, including four-wheeled electric vehicles, indicating a cautious and low-profile exploration of new opportunities [13].

Summary of Key Points Core Viewpoint - On June 18, a total of 57 stocks appeared on the block trading platform, with a cumulative trading volume of 0.38 billion shares and a total transaction value of 6.68 billion yuan, indicating active trading in the market [1]. Group 1: Trading Activity - The highest transaction value was recorded for Hengli Petrochemical, with three trades totaling 0.41 billion yuan [1]. - Jinkong Coal Industry followed closely with one trade amounting to 0.39 billion yuan [1]. - A total of 20 stocks had transaction values exceeding 10 million yuan, reflecting significant interest from investors [1]. Group 2: Stock Performance - Hengli Petrochemical (600346) experienced a slight decline of 0.94% with a closing price of 14.73 yuan and a transaction price of 14.40 yuan, showing a discount of 2.24% [1]. - Jinkong Coal Industry (601001) also saw a decrease of 0.66%, closing at 11.96 yuan, with no discount on the transaction price [1]. - Yuyue Medical (002223) had a minor decline of 0.31%, closing at 35.34 yuan, but the transaction price was at a premium of 9.99% [1]. Group 3: Notable Stocks - Transsion Holdings (688036) had a notable increase of 6.03%, closing at 80.56 yuan, with a transaction price slightly above the closing price [1]. - Other stocks like Meichang Co. (300861) and Fuchuang Precision (688409) showed mixed performance, with slight declines and modest increases, respectively [1]. - Guizhou Moutai (600519) remained stable with a minor decline of 0.14%, maintaining a high closing price of 1425.00 yuan [1].

Group 1: Market Performance - The A-share market experienced a collective decline, with the Sci-Tech 50 Index ETF (588870) falling by 0.9%, marking its sixth consecutive day of decline [1] - The ETF recorded a turnover rate of nearly 12%, leading its peers, and has seen net inflows on 4 out of the last 5 days, accumulating over 140 million yuan in the past 60 days [1] - The year-to-date share growth rate of the ETF exceeds 20%, outperforming similar products [1] Group 2: Index Composition and Stock Performance - Most of the top ten weighted stocks in the Sci-Tech 50 Index ETF experienced declines, with Cambrian falling over 4% and Transsion Holdings dropping over 3% [3] - Other stocks like Haiguang Information and Zhongwei Company fell slightly, while stocks such as Lanke Technology and Huatai Medical saw minor increases [3] Group 3: Investment Opportunities in Technology Sector - Huatai Securities identified three major investment opportunities in the semiconductor equipment market driven by generative AI and advanced manufacturing processes [5] - The report highlights structural opportunities in domestic advanced manufacturing expansion and the potential for increased market share in China due to overseas export restrictions [5] - Galaxy Securities noted that the "reciprocal tariff" policy presents significant opportunities for domestic substitution and the innovation of the Xinchuang industry chain [5] Group 4: AI Industry Trends - The AI industry continues to evolve, with a focus on three main lines: AIDC and supporting infrastructure, increased demand for integrated training and inference machines, and accelerated development of edge AI [6] - Major companies are increasing capital expenditures, and the demand for AI cloud applications is expected to grow rapidly across various sectors [6] - The Sci-Tech 50 Index ETF (588870) tracks the top 50 stocks in the Sci-Tech board, covering sectors such as electronics, pharmaceuticals, and computer technology [6] Group 5: Cost Efficiency of ETF - The management fee rate for the Sci-Tech 50 Index ETF (588870) is as low as 0.15%, and the custody fee rate is as low as 0.05%, making it one of the lowest in the market [7]

Core Viewpoint - Transsion Holdings (688036.SH) is establishing a mobility division to explore two-wheeled electric vehicle (EV) business, targeting markets in Africa and other developing countries [1][2]. Group 1: Business Development - The two-wheeled electric vehicle business has been incubated internally for nearly three years, with project testing conducted in South Asia and Africa [2]. - Transsion is actively recruiting for various positions related to the mobility business in countries like Nigeria, Côte d'Ivoire, and Colombia, indicating a strategic push into this sector [2][3]. - Revoo, an independent electric motorcycle brand under Transsion, offers a range of models including Revoo A11, A12, C32, C32 Pro, and E52 [3]. Group 2: Financial Performance - In Q1, Transsion reported revenue of 13.004 billion yuan, a year-on-year decline of 25.45%, and a net profit of 490 million yuan, down 69.87% [4]. - The decline in performance is attributed to increased market competition and supply chain costs, with competitors like Xiaomi intensifying their presence in the African market [5][6]. - Despite a 5% year-on-year drop in shipment volume to 9 million units, Transsion maintains a 47% market share, although competitors like Xiaomi, OPPO, and Honor have seen significant growth in their shipments [6].

日前，有消息称传音控股已成立出行事业部，探索两轮电动车等相关业务，传音控股目前正在把两轮电 动车迅速在非洲和另外的发展中国家铺开。6月16日，新京报贝壳财经记者从接近传音控股知情人士获 悉，两轮电动车业务是传音控股内部孵化的一个项目，已经发展了近3年的时间，一直在南亚和非洲两 个项目做测试，此前也尝试过在其他地区测试，但因为整个研发和本地生产上存在一定难度，因此放弃 了该地区的测试。记者对此向传音控股进行求证，传音控股未予置评。(贝壳财经) ...

Recent Activities - Indonesia Discovery Program 2025: Healthcare is a three-day on-site visit program aimed at helping Chinese companies explore opportunities in the Indonesian healthcare market, scheduled for July 29-31 in Jakarta [2] Company Dynamics - TikTok's overseas monthly active users on mobile devices have surpassed 1 billion for the first time [3] - JD Logistics has reportedly recruited over 1,000 team members in Saudi Arabia [3] - AliExpress has launched a car sales business, initially offering Chinese electric vehicles in the Middle East [3] - Geek+ has received a listing notification from the China Securities Regulatory Commission, indicating plans to list in Hong Kong [4] - The European Central Bank President Christine Lagarde's visit to China signals potential expansion of autonomous driving services in Europe [4] - Trip.com has opened over 1,100 overseas positions across 75 cities in 23 countries, aiming for a significant increase in international revenue [5] - Ant Group's Ant Financial has initiated the application for a stablecoin license in Hong Kong [6] - XPeng Motors aims to introduce advanced driver assistance systems in Hong Kong [7] - Chery plans to use Hong Kong as a new starting point for international capital markets [7] - Leap Motor has officially entered the Hong Kong market and is planning localization in Europe and Southeast Asia [7] - Changan Automobile has established nine out of twenty planned overseas factories and is expanding into over 100 countries [8] - GAC plans to enter the Argentine market by the second half of 2025 [8] - TSMC's construction plans for new factories in Japan and Germany may be adjusted due to local market conditions [8] - TikTok is set to expand its investment in the UK to approximately £140 million, creating over 500 new jobs [9] - Transsion's TECNO has formed a strategic partnership with MCR Group to enter the Spanish market [9] - CnEnergy International has signed strategic cooperation agreements for solar projects in Zambia [9] Macro Policies & Industry Data - In the first five months of 2023, China's electric vehicle exports increased by 19%, and industrial robot exports surged by 55.4% [12] - China's trade with Africa has grown significantly, with an average annual growth rate of 14.2% since the establishment of the China-Africa Cooperation Forum [12] - In the first five months, China's automobile exports reached 2.49 million units, a year-on-year increase of 7.9% [13] - The Hong Kong government is actively seeking to attract more Chinese companies to list in Hong Kong [13] - The interconnectivity project between mainland China and Hong Kong's rapid payment systems is progressing smoothly [13] - The Yangtze River Delta region has seen significant growth in cross-border e-commerce and high-end equipment exports [14] Investment and Financing - Yige Cloud has completed a nearly 100 million yuan Pre-B round of financing to enhance its AI-driven enterprise office support platform [15] - Yinghan Power has secured several million yuan in Pre-A+ financing to develop new training devices for professional sports [15] - Liuxing Technology has completed several million yuan in Pre-A financing to advance its intelligent three-dimensional perception technology [15]