A股重大调整！明起实施！

Group 1: Regulatory Changes - The Shanghai, Shenzhen, and Beijing stock exchanges announced the implementation of new rules for algorithmic trading to enhance market regulation and fairness, effective from July 7, 2025, allowing a transition period for market participants [1][6][7] - The new rules specify four types of abnormal trading behaviors, including rapid order submission, frequent order cancellations, price manipulation, and large transactions in a short time, aiming to mitigate market volatility [6][7] Group 2: Economic and Market Trends - The maximum electricity load in China reached a historical high of 1.465 billion kilowatts on July 4, 2023, an increase of approximately 200 million kilowatts since late June and nearly 150 million kilowatts year-on-year [5] - The domestic smartphone market saw a year-on-year decline of 21.8% in May 2023, with total shipments of 23.716 million units, of which 21.19 million were 5G smartphones, accounting for 89.3% of total shipments [2][3] Group 3: Corporate Developments - China Shipbuilding Industry Corporation received approval for the absorption and merger with China State Shipbuilding Corporation, pending further regulatory approvals [13] - Major platforms like Meituan and Alibaba launched aggressive promotional campaigns to stimulate consumer spending during the summer season, offering significant discounts [14] Group 4: Investment Strategies - CITIC Securities reported that the current market environment resembles the end of 2014, with signs of recovery in investor sentiment and potential policy shifts aimed at boosting domestic demand [18]