券商中国·2025-06-25 12:18Macro Dynamics - In May, national lottery sales reached 57.036 billion yuan, a year-on-year increase of 19.8% [1] - The growth was driven by an increase in sports events boosting sales of sports lottery tickets and a low base from the previous year for instant lottery tickets [1] - Cumulative lottery sales from January to May totaled 263.372 billion yuan, up 4.3% year-on-year [1] Industry Policies - Chengdu has introduced "14 measures for low-altitude economy" to support low-altitude flight operation companies in applying for passenger routes [2] - The measures include subsidies for the construction of low-altitude takeoff and landing infrastructure, with a maximum subsidy of 500,000 yuan per project [2] - Companies that obtain route approval and achieve commercial operation will receive a one-time subsidy, also capped at 500,000 yuan per year [2] Financial Institutions - DBS Bank plans to hire about 40 private bankers in Hong Kong and Singapore this year to meet the demand from affluent clients in North Asia [5] - Cathay Securities International has received approval to provide cryptocurrency and virtual asset trading services, becoming the first Chinese broker in Hong Kong to offer comprehensive virtual asset trading services [6] Market Data - On June 25, A-shares saw a collective rise, with the Shanghai Composite Index up 1.03%, and the ChiNext Index up 3.11% [7] - The total trading volume reached approximately 1.602789 trillion yuan, an increase of about 188.175 billion yuan from the previous trading day [7] - The financial sector led the gains, with active stocks in stablecoins, military industry, AI applications, and autonomous driving concepts [7] Company Dynamics - Pony.ai's stock rose over 11% in pre-market trading after being included in the Nasdaq Golden Dragon Index, indicating increased visibility and investment interest in Chinese autonomous driving technology [10] - Apple has announced participation in a national subsidy program for its products, offering up to 2,000 yuan off for specified items, marking its first involvement in such a program in China [11] - Tesla's new car registrations in Europe fell by 27.9% year-on-year in May, marking the fifth consecutive month of decline [12]