Market Overview - The Hong Kong stock market continued to gain momentum, driven by the strong performance of the A-share market [1] - Federal Reserve Chairman Jerome Powell's dovish remarks at the Jackson Hole conference indicated rising risks in the job market and a potential need for policy adjustments, with interest rate cuts expected in September [1] - The current market focus is on the domestic chip replacement trend catalyzed by DeekSeepV3.1, with Nvidia's upcoming earnings report on August 27 being a key event to watch [1] AI and Technology Sector - SenseTime (商汤科技) holds a 22.8% market share in the domestic computer vision application market, leading for the ninth consecutive year [3] - The company's "日日新" large model interactive platform has been integrated with AI glasses, enhancing user experience [3] - SenseTime's model calling volume is expected to grow by 300% year-on-year by Q2 2025, with significant increases in customer willingness to pay across various sectors [3] - The AI glasses industry is anticipated to experience explosive growth, with global shipments expected to exceed 20 million units by 2026 [6] - Meta remains the absolute leader in the AI glasses market, with its next-generation product expected to launch in the first half of 2026 [6] Industry Developments - The release of the "Interim Measures for Total Control of Rare Earth Mining and Smelting Separation" marks a new phase in the management of rare earth resources in China [2] - The China Photovoltaic Industry Association is advocating for high-quality competition in the solar industry, moving away from price wars [2] - The AI glasses sector is seeing a surge in new product launches, with multiple brands planning releases in the latter half of the year [6] - GoerTek (歌尔股份) announced a strategic acquisition to enhance its AR capabilities through collaboration with Shanghai Aolai Micro-Nano Optics [6] Investment Opportunities - Companies like Sunny Optical (舜宇光学) and Conant Optical (康耐特光学) are highlighted as key stocks to watch in the Hong Kong market [7] - The establishment of a 10 billion yuan AI ecosystem fund in Shanghai is expected to boost the large model industry chain [4] - The domestic smart computing scale is projected to grow over 40% this year, indicating strong potential for chip stocks [1]
智通决策参考︱9月降息已成定局 港股涨势过大警惕震荡