Market Overview - The three major indices showed mixed performance, with the ChiNext and Sci-Tech 50 indices dropping over 1%. The total trading volume in the two markets fell below 2 trillion yuan for the first time in 31 trading days, decreasing by 121.3 billion yuan compared to the previous trading day, with a net outflow of 52.8 billion yuan from domestic investors. More than 3,200 stocks declined, with a median drop of -0.31% [2]. Sector Performance - The chemical sector has shown strength recently, with Ji Hua Group achieving a 5-day streak of gains, and stocks like Taihe New Materials, Baichuan Shares, Vinegar Chemical Shares, and Hualitai hitting the daily limit. The fiberglass concept also surged, with Honghe Technology, Shandong Fiberglass, International Composites, and China Jushi reaching the daily limit. The non-ferrous metal sector was active, led by tungsten concepts, with Xianglu Tungsten Industry achieving a 4-day streak of gains and Zhangyuan Tungsten Industry hitting the daily limit [2][3]. Market Dynamics - The recent rally in sectors related to non-ferrous metals and chemicals is attributed to price increase logic. Stocks like Zhongtung High-tech and International Composites are significant players, while many of the other rising stocks are small-cap. The "Douyin SD concept" that led the market yesterday saw a significant number of stocks drop today, indicating a typical quantitative trading operation where gains were quickly realized [3]. Investment Sentiment - The market is currently experiencing a rotation among sectors, and it is suggested that the main themes will only become clearer after the Spring Festival. The large-cap technology stocks, such as Zhongji Xuchuang and Xinyi Sheng, also experienced significant pullbacks [3].

Group 1 - The event celebrated the New Year with 46 high-tech and overseas Chinese enterprises gathering at the Chengdu New Overseas Chinese Innovation and Entrepreneurship Base, emphasizing the theme "Journey with You, Gathering Wisdom and Strength" [1] - Activities included traditional and innovative interactive segments such as tug-of-war, musical chairs, and cultural experiences like writing the character for "fortune" and making candied hawthorn, fostering a sense of community among participants [4] - The event served as a cultural feast and a vivid representation of the base's efforts to "unite hearts and gather strength," with plans to continue leveraging the integration of "united front + industry" to support resource integration and technological innovation [6] Group 2 - Participants expressed their commitment to contributing to the development of Chengdu's industrial software ecosystem with renewed enthusiasm for the upcoming year [4] - The base aims to create more diversified communication platforms to facilitate collaboration among enterprises [6]

2月11日，市场震荡调整，CPO、PCB、电池等创业板权重方向跌幅居前。截至收盘，创业板中盘200指数下跌0.3%，创业板指数下跌1.1%，创业板成长指数 下跌1.5%。相关产品获资金逆势布局，创业板ETF易方达（159915）全天净申购超3亿份。 每日经济新闻 ...

2月11日，AI产业链方向集体回调。指数层面，上证科创板人工智能指数下跌0.9%，中证人工智能主题指数、中证科创创业人工智能指数均下跌1.9%。资金 逆势加仓，人工智能ETF易方达（159819）全天净申购达1.2亿份。 | 今日 | 该指数 该指数自202 | | --- | --- | | 该指数涨跌 | 滚动市盈率 发布以来估值: | | -1.3% | 56.6倍 92.4% | | 今日 | 该指数 | 该指数自201 | | --- | --- | --- | | 该指数涨跌 | 滚动市盈率 | 发布以来估值 | | -1.4% | 33.7倍 | 53.6% | 每日经济新闻 ...

在很长一段时间里，Thomas Dohmke 都被视为"最不像 CEO 的 CEO"。 他会在深夜亲自回复 GitHub Issues，会在发布会上公开演示自己写代码的过程，也会在 Copilot 最早的内测阶段，反复强调一句话："如果这个东西不能改 变开发者每天的工作方式，那它就不值得存在。" 但去年 8 月，这位 GitHub 首席执行官正式离职。外界一度猜测，他是否会加入另一家大厂，或转向 AI 创业投资。但几个月后，他给出的答案更直接 ——重新创业。 今年 48 岁的 Thomas Dohmke 创办了一家名为 Entire 的新公司，这是一个面向"智能编码时代"的开源开发者平台。 他在 x 上宣布了这一消息。 Grab 首席产品官 Philipp Kandal 在 x 上发帖表示祝贺。 1 Entire 是谁？ 那么，这个 Entire 到底是什么？ 据 Dohmke 介绍，Entire 是一个平台，但它未必会与 GitHub 展开竞争。Dohmke 表示，其理念是在技术栈的更高层构建一个平台，让开发者能够管理智 能体的推理过程并与之协作。代码仓库仍将是其中的核心。 Entire 正在构建的是一个三 ...

Market Overview - The three major indices showed mixed performance, with the ChiNext and Sci-Tech 50 indices dropping over 1%. The trading volume in the Shanghai and Shenzhen markets fell below 2 trillion yuan, decreasing by 121.3 billion yuan compared to the previous trading day. Over 3,200 stocks in the market declined [1][7]. Sector Performance - The chemical sector has been active recently, with stocks like Jihua Group and Baichuan Co. experiencing significant gains. The small metals sector also performed well, particularly tungsten-related stocks, with Xianglu Tungsten and Zhangyuan Tungsten hitting the daily limit. The computing power leasing concept saw a rise, with Naxing Co. and Dawi Technology reaching the daily limit. Conversely, the film and television sector faced a collective downturn, with Hengdian Film and Huayi Brothers hitting the daily limit down [1][2][5]. Price Trends - According to Huayuan Securities, prices of rare metals such as tungsten and molybdenum have risen since 2026, with black tungsten concentrate prices increasing by 47.15% and ammonium paratungstate by 45.93%. The prices of praseodymium and neodymium oxide and light rare earth minerals have also risen by over 20% [2][3]. Future Outlook - The chemical sector is expected to continue its upward trend due to a recovery in supply and demand, with the Producer Price Index (PPI) anticipated to turn positive between 2026 and 2027. Leading companies in the sector may still have room for recovery [3][5]. Individual Stock Highlights - Notable individual stock performances include Baichuan Co. achieving 8 consecutive gains over 11 days, and Jihua Group with 4 gains over 5 days. Other stocks like North Rare Earth and Shenghe Resources are also nearing previous highs. The upward trend in cyclical stocks is primarily driven by price increases, although their impact on the overall market remains limited [5][6]. Market Dynamics - The market continues to show a divergence in performance, with the Shanghai Composite Index slightly up while the ChiNext Index dropped over 1%. The trading volume has further shrunk, influenced by uncertainties during the long holiday and increased cash withdrawal demands during the Spring Festival. However, post-holiday, capital is expected to flow back into the market, potentially improving risk appetite [7][8].

雄安雄? 7 XIONGAN TALENT ● 2 2 1 A 10 P TF- th . T B I 198 INDER arm and and t in i "雄才杯 坚持政府引导 方向，搭建" 次人才带技7 与早期项目, 新质生产力, 与升级, 打造 聚焦新 等三大高端7 智能、医工 I AL 于概念验证 TTT -12 == 12 == 1 == 叶成果转化↓ 代 信 新 1.空天信 重点聚焦卫 北斗、低空 细分赛道。 2.人工智 重点聚焦具 设备制造、 3.其他 重点聚焦信 现代生命 重点聚焦 新材料: 医疗器械 重点聚焦 柔性电子! 参赛项 念验证、初1 意向在雄安亲 项目团 成型的产品/ 资源等必须扩 包模式。 任属 ष्ठ 66 ◆ 名参赛。 报名 即日 赛区 京津 长三 珠 = 海外 初塞 京津 长三 珠三 海外 决赛 决赛 报名链接：https://xatalent.cn/content/talentCupExplain ...

作者｜冬梅 在很长一段时间里，Thomas Dohmke 都被视为"最不像 CEO 的 CEO"。 他会在深夜亲自回复 GitHub Issues，会在发布会上公开演示自己写代码的过程，也会在 Copilot 最早的内测阶段，反复强调一句话："如果这个东西不能改 变开发者每天的工作方式，那它就不值得存在。" 但去年 8 月，这位 GitHub 首席执行官正式离职。外界一度猜测，他是否会加入另一家大厂，或转向 AI 创业投资。但几个月后，他给出的答案更直接 ——重新创业。 今年 48 岁的 Thomas Dohmke 创办了一家名为 Entire 的新公司，这是一个面向"智能编码时代"的开源开发者平台。 他在 x 上宣布了这一消息。 Grab 首席产品官 Philipp Kandal 在 x 上发帖表示祝贺。 1Entire 是谁？ 由于代理使用此数据库及其 API 端点的频率可能远远高于人类使用 Git 存储库的频率，因此团队还需要考虑性能。 Dohmke 还表示，与传统的集中式 Git 仓库不同，这种新型数据库可以构建成一个全球分布式的节点网络。 对于需要（或希望）确保数据主权的用户来说，这是一个重要的卖点 ...

Group 1 - The core viewpoint of the articles highlights the recent performance of the CPO optical modules and the slight decline of the Huabao AI ETF (159363), which has seen a net purchase of over 18 million units amid market fluctuations [1][2] - ByteDance's launch of the Seedance 2.0 video generation model on the Jiemeng platform has sparked significant discussion in the AI industry, with expectations that it will catalyze a rebound in AI applications and benefit upstream hardware infrastructure due to increased demand for computing power [1] - The fund manager of the Huabao AI ETF emphasizes focusing on "simple themes" in ETF investments, particularly in sectors with clear industry trends and upward performance and valuation, suggesting that optical modules are currently a leading sector with potential for valuation premiums [2] Group 2 - The Huabao AI ETF is positioned to benefit directly from the commercialization of AI technology, with approximately 60% of its portfolio allocated to computing power (including leading optical module and IDC companies) and 40% to AI applications, indicating a balanced approach to both computing and application sectors [2] - The current global liquidity environment remains loose, which is expected to favor assets with clear industry trends, leading to potential valuation premiums that may continue to expand [2]

Core Insights - Shenzhen is facing competition from other cities like Hangzhou, which has emerged as an "innovation capital" with strong tech companies, prompting local government to initiate a "defense battle" for its innovation status [1][2] - The city has developed a highly efficient "entrepreneurial assembly line" that allows startups to quickly move from idea to product launch without needing extensive manufacturing knowledge [1][2][10] - The influx of capital from various sources, including professor funds and government-backed investments, has created a supportive environment for entrepreneurs, although challenges such as talent imbalance and increased competition are emerging [2][14][17] Government Support and Policies - Shenzhen's government has implemented numerous supportive policies, including low-interest loans and housing assistance, to alleviate the financial burdens on startups [5][12] - The "six ones" initiative in Nanshan district provides comprehensive support for early-stage entrepreneurs, addressing their needs from housing to funding [5][12] - Despite the generous policies, some entrepreneurs feel that the support is more of a bonus rather than a necessity for survival, emphasizing the importance of product viability over government assistance [7][12] Talent and Workforce - The talent pool in Shenzhen is strong in hardware but lacks sufficient software expertise, leading to a reliance on hiring from cities like Beijing and Shanghai for core algorithm development [7][8][12] - The city has a high density of young talent, particularly in AI hardware, but struggles to attract top-tier software engineers, resulting in higher salary premiums for such positions [7][8][12] Entrepreneurial Ecosystem - Shenzhen's entrepreneurial ecosystem is characterized by a network of hardware solution companies that facilitate the rapid development of prototypes and products for startups [9][10] - The city has a well-established supply chain that supports hardware development, allowing entrepreneurs to outsource various components of their projects efficiently [9][10] - Crowdfunding has become a significant avenue for startups to gain visibility and funding, with many successful projects emerging from Shenzhen [10][11] Investment Landscape - The investment landscape in Shenzhen is vibrant, with significant interest from venture capital firms, particularly in the "AI + hardware" sector, as traditional software investments face uncertainty [14][17] - A three-tiered funding structure has emerged, comprising venture capital, professor-led funds, and government investments, creating a comprehensive support network for entrepreneurs [17][18] - Entrepreneurs are under pressure to secure funding quickly, as the current capital influx is seen as a temporary opportunity that may not last beyond 2026 [18][19]