Venture(US:VEMLY) Feng Huang Wang Cai Jing·2025-09-09 01:36Group 1: Market Overview - A-shares opened lower with all three major indices declining: Shanghai Composite Index down 0.27%, Shenzhen Component Index down 0.54%, and ChiNext Index down 1.09% [1] Group 2: Gold Market Insights - CITIC Securities indicates that global liquidity will provide support for gold prices in the medium term, with the current global interest rate cut cycle led by non-U.S. central banks [2] - Recent U.S. inflation data fell short of expectations, suggesting that inflation risks may be manageable within the year, allowing for potential rate cuts by the Federal Reserve [2] Group 3: Camera Industry Growth - CICC forecasts sustained growth in the handheld smart imaging device market, particularly for action cameras and panoramic cameras, driven by social media and outdoor sports trends [3] - The Asian market, especially China, is expected to be the main driver of demand growth, with domestic brands likely to lead industry development through innovation [3] Group 4: Power Generation Sector - Huatai Securities is optimistic about the recovery of coal-fired power generation in Q3, expecting an increase in year-on-year power generation due to lower coal prices [4] - Hydropower performance is expected to vary significantly due to water supply conditions, while green energy performance has been below expectations due to various factors [4] - Nuclear power approvals are accelerating, with new projects expected to contribute profit increments for leading nuclear power companies [4]