Venture(US:VEMLY) Xin Lang Ji Jin·2025-07-29 13:53Market Overview - The market experienced fluctuations throughout the day, with the ChiNext Index leading the gains. The total trading volume in the Shanghai and Shenzhen markets reached 1.8 trillion yuan, an increase of 609 billion yuan compared to the previous trading day [1] - By the end of the trading session, the Shanghai Composite Index rose by 0.33%, the Shenzhen Component Index increased by 0.64%, the ChiNext Index surged by 1.86%, and the CSI 500 Index gained 0.50% [1] AI and Computing Hardware Sector - The AI computing hardware sector saw significant gains, driven by increased capital expenditures from overseas cloud providers entering a performance release phase, steady improvements in domestic computing infrastructure products, and a potential easing of US-China trade tensions [3] - Google raised its full-year capital expenditure forecast to $85 billion, primarily for AI servers and data center construction, with its cloud computing revenue reaching $13.6 billion, a 32% year-over-year increase [4] - The demand for NVIDIA's H20 chips in China is estimated to exceed current inventory by more than 100%, indicating a substantial supply-demand gap that may be filled by the upcoming B30 chip [5][6] Pharmaceutical Sector - The pharmaceutical sector continued to perform well, with the Innovation Drug ETF rising by 4.26% and the Biopharmaceutical ETF increasing by 2.72% [8] - A significant licensing agreement was reached between Hengrui Medicine and GSK, with GSK paying a $500 million upfront fee and potential milestone payments totaling approximately $12 billion [8] - The CXO leader WuXi AppTec reported strong performance and raised its annual guidance, reflecting the robust growth of the innovative drug industry [8] Policy and Investment Opportunities - The government has introduced favorable policies for drug procurement and support for innovative drugs, with a new childcare subsidy scheme set to begin in 2025 [9] - Investors are encouraged to consider the Innovation Drug ETF and the newly issued Science and Technology Innovation Drug ETF, which tracks biotech-focused indices with higher growth potential [9] Stablecoin Developments - The stablecoin sector saw a late surge, with the Software ETF rising by 1.57%. Hong Kong's stablecoin legislation is set to take effect on August 1, 2025, which may accelerate the launch of legal stablecoins [10][11] - The Shanghai municipal government is increasing its focus on the development of stablecoins, which could enhance the efficiency of cross-border payments and support the internationalization of the renminbi [11]