万联证券万联晨会

Core Insights - The report highlights the introduction of a tax policy by the Ministry of Finance and the State Administration of Taxation, allowing companies to deduct 10% of their digital and intelligent transformation investments for specialized equipment from their taxable income, applicable from January 1, 2024, to December 31, 2027 [2][23]. Industry Insights - The report indicates that the quality of companies listed on the Beijing Stock Exchange is expected to improve further as the exchange undergoes high-quality expansion [5]. - In June, the import value of lab-grown diamonds in India decreased by 21.04% year-on-year, while the export value of lab-grown diamonds fell by 8.96%, indicating a shift in market dynamics [6]. - The penetration rates for both lab-grown diamond imports and exports in India increased, with export penetration reaching 8.03% (up 1.43 percentage points) and import penetration at 5.88% (up 0.39 percentage points) [6]. - The import value of natural diamonds in India dropped by 26.55% year-on-year, and the export value fell by 26.35%, reflecting a challenging market environment [6]. - The report notes that the price index for international polished diamonds decreased by 2.10% in June, indicating ongoing pressure on diamond prices due to insufficient market demand [6]. - The report suggests that while short-term performance in the diamond market is weak, long-term recovery in consumer demand is anticipated as macroeconomic conditions improve and consumer preferences evolve [6]. Company Insights - Apple has launched the public beta of iOS 18, which includes the new AI feature "Apple Intelligence," enhancing user experience with advanced writing tools and custom image generation capabilities [12]. - Apple's global smartphone market share remained stable at 16% in Q2 2024, with significant growth in Europe and Latin America compensating for declines in the U.S. and China [12]. - The average selling price (ASP) of Apple smartphones increased from $880 in Q1 2023 to $900 in Q1 2024, driven by strong sales of the Pro series, which now accounts for 50% of total sales [12]. - The report emphasizes that Apple's AI upgrades are expected to enhance product competitiveness and stimulate demand within its supply chain [12].