Group 1 - The innovative drug sector has become a hot investment area, with approximately 30 new pharmaceutical-themed funds reported in the second quarter, matching the total for the entire year of 2024 [1] - The valuation of the pharmaceutical industry is considered high but not in a bubble phase, with potential for continued value increase as clinical data improves [1] - Dividend-themed funds are gaining traction as safe-haven investments, with several ETFs reaching record high shares, indicating their growing allocation value [1] Group 2 - Active equity funds are experiencing significant net value fluctuations, indicating that fund managers are beginning to build positions, with some funds ending their issuance early due to favorable entry points [2] - Multiple companies have announced share buyback plans, with a total buyback amount of 71.71 billion yuan this year, reflecting a commitment to shareholder value [2] Group 3 - Hong Kong's IPO financing has surged over 500% year-on-year, totaling 779.88 billion HKD, driven by favorable policies and market conditions [3] - The production of 3D printing equipment has increased by 40% year-on-year, outpacing other sectors, attributed to rising demand and improved technology [3] Group 4 - A new stringent battery safety regulation will shift the focus from energy density to safety performance, impacting major battery manufacturers like CATL and BYD [4] - The payment industry is witnessing a concentration of market share among larger players, while smaller firms face market exit and regulatory challenges [4] Group 5 - Chinese scientists have made advancements in developing an efficient "artificial leaf" for solar hydrogen production, enhancing the efficiency of water-splitting reactions [5] - JD.com plans to apply for stablecoin licenses in major currency countries to reduce cross-border payment costs significantly [5] Group 6 - Yunda Express has faced penalties related to a fraud case, with 58 franchise outlets fined or suspended for regulatory violations [6] - Baoneng Auto has denied rumors of dissolution, asserting that operations are normal and new vehicles are set to launch [7] Group 7 - Fuwai Group has passed the Hong Kong Stock Exchange hearing, aiming for an IPO after previous unsuccessful attempts, with significant losses reported [7] - Anshun Xixiu Industrial Investment has been listed as an executor due to a rental contract liability amounting to 212.6 million yuan [8] Group 8 - Tianwei Video has completed the acquisition of a 70% stake in Tianqing Digital for 84.28 million yuan, integrating it into its financial reports [9] - Weichuang Electric has set an inquiry transfer price of 38.79 yuan per share, with significant interest from institutional investors [10] Group 9 - Baoxin Technology's subsidiary's planned acquisition of a 40% stake in Jiangsu Yingsu has been halted due to the counterparty's unilateral termination [11]

韩国总统李在明在大选时承诺会将韩国打造成"AI三大强国"之一，并提出向AI等国内尖端战略产业集中 投资100万亿韩元（1000韩元约合5.28元人民币）的方案。他还承诺要扩大电动汽车的普及。然而，这 些政策都必定会让电力需求大幅增长。李在明说："到2040年为止，我们将关闭燃煤发电机组。"但问题 在于如果减少燃煤发电，要如何生产出那么多的电呢？李在明强调扩大太阳能和风力发电，但韩国新再 生能源发电存在随天气波动性很大的局限性。目前新能源发电的比例仅为10.5%，因此现实的对策其实 只有核电。 但李在明仍对建设新的核电站持否定立场，他说："我依然觉得核电是危险的能源。应该继续好好使用 已经建成的核电站。"韩国核电站的历史已经有50多年了，一次主要的事故都没有发生过。按事故比例 计算，最安全的发电站是核电站。如果有风险，美国、英国、法国、瑞典等比韩国更先进的国家不会考 虑建设新的核电站。 韩国《朝鲜日报》 6 月 11 日文章，原题：大学已经出现 AI 电力短缺，能源应该以实用为尺度 据悉，研究 人工智能（AI）的韩国大学校园里到处都出现了"求电难"的情况。换言之，大学在进行AI研究时，由于 电力不足，无法启动研 ...

全球AI大会东京站成功举办（受访者供图） 潮新闻客户端 记者 张云山 近日，为期两天的"全球AI大会东京站"（Global AI Conference Tokyo）在东京樱美林大学新宿校区圆满落幕。本次大会吸引了来自全球各地的超过1000名企 业家、创业者、投资人、开发者和AI爱好者参与，现场设置了16个品牌展位，邀请了100余位行业嘉宾进行分享。 大会的核心议程聚焦于AI技术的最新进展及其在各行各业的应用潜力。嘉宾演讲环节爆满，观众反响热烈。知名创作者汗青分享了《AI驱动的个体叙事和IP 衍生》，通过生动的数字人案例展示了AI在个人品牌塑造中的强大力量。大会还汇聚了国际顶尖AI创作者。法国知名AI影像创作者Yves Dalbiez（曾制作 Snoop Dogg AI音乐视频，获Project Odyssey全球AI创作赛冠军）现场分享了其在音乐影像与视觉叙事中的前沿探索。日本动画行业传奇人物、AiHUB高级 制片人井上博明（曾参与《铁臂阿童木》制作），带来了主题演讲。 本次大会主办方WaytoAGI作为国内知名的AI开源知识社区，WaytoAGI在飞书的开源知识库累计访问量已超过3000万。通过定期组织视频 ...

Core Viewpoint - Salesforce Inc. is increasing prices for several products, reflecting the integration of artificial intelligence (AI) technology and adjustments in cost structure [1] Pricing Changes - The company announced an average price increase of 6% for its main product lines, effective in August [1] - The price of the office communication tool Slack will also see an increase [1] Innovation and Value - Salesforce stated that the price hikes are a reflection of significant ongoing innovations in their products and the value delivered to customers [1] - This marks the first price increase since 2023, following a seven-year period without any price adjustments [1]

AMD在"Advancing AI"活动中发布新一代MI400芯片及Helios服务器架构，Piper Sandler等投行上调目标价，认为新产 品将推动GPU业务增长，预计2025年下半年开始复苏。受利好消息推动，AMD股价周一一度大涨10%。 分析师在报告中写道： 硬·AI 作者 | 赵雨荷 编辑 | 硬 AI AMD股价周一一度涨超10%，此前Piper Sandler的分析师上调了其目标价，表示对AMD最新产品发布持 乐观态度。 AMD今年4月曾表示，由于美国半导体出口的新许可证规定，公司最多可能因此承担8亿美元费用。 Piper Sandler分析师指出，这些成本将影响第二和第三季度的毛利率，但预计公司将在此后迅速反弹。 分析师写道： "虽然AMD目前正经历短期的调整和一些不利的事件，但公司似乎已为2025年下半年（特别是9月季 度）起的增长做好准备。我们预计从2025年12月季度开始，公司将迎来重大突破。" 在上周于圣何塞举行的"Advancing AI"大会上，AMD发布了新一代Instinct MI350系列芯片，目标是与市场 领导者英伟达竞争。公司还预览了将在2026年发布的Helios整机 ...

Core Viewpoint - Trump Organization has launched "Trump Mobile," a new smartphone and wireless communication service, in partnership with major U.S. carriers AT&T, Verizon, and T-Mobile, aiming to provide 5G services [1][3]. Group 1: Product Offering - "Trump Mobile" offers a monthly plan priced at $47.45, which includes unlimited calls, texts, and data, along with roadside assistance and telehealth services [3]. - The first smartphone model, T1, features a 6.8-inch AMOLED screen, under-display fingerprint recognition, AI facial unlock, and runs on Android 15, with a price tag of $499 [5]. - The T1 smartphone is expected to ship in August, with a pre-order requirement of a $100 deposit [5]. Group 2: Market Position and Challenges - The smartphone market in the U.S. is dominated by Apple and Samsung, which together hold nearly 80% of the market share [6][8]. - Experts express skepticism about the feasibility of manufacturing smartphones in the U.S., citing a lack of a complete supply chain and the need for economies of scale [6][9]. - Currently, only one U.S. company, Purism, manufactures smartphones domestically, with its products priced significantly higher than the T1 [9]. Group 3: Ethical and Business Implications - The launch of "Trump Mobile" has raised ethical concerns regarding potential conflicts of interest, as critics argue it serves as a means for the Trump family to profit from the presidency [11]. - The Trump family has a long history of business ventures, with over 500 subsidiaries, and has been criticized for past failed brand expansions [12][13]. - Recent financial disclosures indicate that Trump has earned over $600 million from various business ventures, including cryptocurrency and brand licensing [12].

编译丨王聪 编辑丨王多鱼 排版丨水成文 饶毅 教授是中国科学和教育领域的杰出改革者。1980 年代，饶毅在美国开启职业生涯，2007 年，他辞去美国西北大学终身教职，全职回国，出任北京大学生命 科学学院院长，他引入了多项举措，使中国生命科学研究重焕生机，其中包括采用终身教职制度和同行评审来评估学者的学术成就。如今， 饶毅 卸任了首都医学 大学校长职务，在北京大学负责一个前沿脑科学研究实验室，并担任其他领导职务。 饶毅 一向以直言不讳著称。2008 年，他放弃美国护照，以抗议前总统乔治·W·布什在 9·11 事件后推行的政策。他还在新冠疫情期间批评了美国的政策，并强 烈反对实验室泄漏论。此外，他还是中国人才引进计划的积极倡导者。 2025 年 6 月 17 日，国际顶尖学术期刊 Nature 发布了一篇对 饶毅 教授的专访 ， Nature 向饶毅询问了他如何看待中国在生命科学领域的作用，以及中国怎样 才能成为生物科技超级大国。 饶毅 教授 中国如何能成为生物科技超级大国？ Nature ：根据《自然》指数，中国在生命科学领域的实力不如在物理科学领域。这是为什么呢？ 只要中国没有类似于美国 NIH 这样的机构， ...

美国消费动能仍在，赤字政策或延缓衰退 ——2025 年年中海外经济年度展望 2025 年 6 月 17 日 宏观经济 深度报告 | | | 投资摘要： 欧美经济分化。美国以外的发达国家仍处于经济停滞，服务景气度下滑，制造业有所回升但仍在收缩区间，欧洲或继续降息。 美国实体经济尚可。家庭部门负债负担较轻，可承受较高的利率；实际收入同比止跌回升，预计消费总量仍可支撑经济。金 融融资环境宽松，叠加特朗普减税和放松监管的预期，2025 年投资仍可增长。联邦财政面临压力，债务利息支出对联邦赤字 率开始产生明显推升作用。 美国通胀客观上有上行风险，但最终轨迹是各项因素的共振结果。特朗普的关税和减税政策客观上有利于通胀的上行，但特 朗普的当选主要来自选民对通胀和非法移民的容忍度降低，这意味着特朗普的政策节奏不得不考虑通胀。参考特朗普第一任 期内减税政策法案于 2017 年 12 月通过，本轮减税政策落地最快不会早于三季度，减税对通胀的影响可能推迟至 2026 年。 另一方面，货币政策的节奏也可对通胀产生决定性作用，通胀上行并不是无法避免。 我们维持对美联储 2025 年降息次数的预期，为 1~2 次。 资本市场方面，美国十 ...

Emerging Markets Dynamics - Vietnam has officially joined the BRICS cooperation mechanism as a partner country, welcomed by the Brazilian government, which currently holds the rotating presidency of BRICS [1] - The BRICS partner countries now include Nigeria, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, and Uzbekistan, expanding the total number of BRICS members to 11 [1] Financial Cooperation - The People's Bank of China and the Central Bank of Turkey have renewed a bilateral currency swap agreement with a scale of 350 billion RMB (approximately 189 billion Turkish Lira), effective for three years [2] - A memorandum of cooperation was signed to establish a RMB clearing arrangement in Turkey, enhancing financial cooperation and facilitating cross-border trade and investment [2] Platform Developments - TikTok announced an investment expansion in the UK to approximately £140 million (around 1.36 billion RMB), including the establishment of a new office in London and an increase in employee numbers to 3,000 [3] - TikTok Shop in Southeast Asia has relaxed entry policies for businesses, removing e-commerce experience requirements, allowing individual sellers to enter the market more easily [4] - TikTok Shop has launched a "Hot Product Takeoff Plan" in the US and Europe, providing various support resources to help merchants boost sales during the summer season [5] Industry Observations - Vietnam's commercial air conditioning market is projected to reach $600 million in 2024, with a year-on-year growth of 14.9%, while the first quarter of 2025 is expected to see a market size of $123 million, growing by 13.9% [9] - In Indonesia, the commercial air conditioning market is expected to reach $218 million in the first quarter of 2025, reflecting a year-on-year growth of 7.2% [10] - The Chinese mobile gaming industry accounted for 36.6% of global revenue in May 2025, with 33 Chinese companies making it to the top 100 global mobile game publishers [11] Shipping and Logistics - In the first five months of the year, Chinese shipbuilders secured 274 new ship orders, accounting for approximately 49% of the global market share, while global new ship orders have dropped to a near four-year low [12][13] - The demand for OLED display panels is expected to grow significantly, with a projected annual growth rate of 69% in 2025, driven by strong demand in the gaming sector [14] Policy Changes - Starting July 1, Vietnam will require e-commerce platforms to withhold and pay taxes on behalf of sellers, including VAT and personal income tax, with specific rates outlined for different types of transactions [21]

Core Viewpoint - The integration of AI in education is transforming the landscape, enhancing efficiency and personalization, while also raising questions about the potential drawbacks of over-reliance on technology [2][4][5]. Group 1: AI's Impact on Education - AI has become a significant tool in education, assisting in tasks such as grading, personalized tutoring, and creating immersive learning experiences [2][4]. - The online education market in China is projected to reach 2.628 trillion yuan in 2023, with AI's contribution expected to rise from 7% to approximately 16% by 2027 [4]. - AI is seen as a means to promote educational equity, providing access to quality resources for students in remote areas, although disparities in access to technology may exacerbate inequalities [4][5]. Group 2: Efficiency and Personalization - AI enhances efficiency in educational settings, allowing for rapid grading and data analysis, which helps teachers tailor their strategies to individual student needs [2][4]. - In Shanghai, AI-driven changes are evident in schools, where teachers can use smart grading machines to complete tasks that previously took much longer [2]. Group 3: Concerns and Limitations - There are concerns that reliance on AI may lead to a rigid educational environment, lacking the warmth and creativity of traditional classrooms [5][6]. - The simplification of the learning process by AI may eliminate valuable moments of discovery and critical thinking that occur through human interaction [6][7]. - The potential for AI to dominate the educational experience raises questions about the balance between technology and the human elements of teaching and learning [5][6].