Core Viewpoint - The National Development and Reform Commission and other departments have issued measures to strengthen the cultivation of innovative enterprises in the digital economy, emphasizing the enhancement of computing power resource supply support [2] Group 1: Policy Implementation - The "East Data West Computing" project will be deeply implemented, adhering to relevant policy document requirements [2] - The deployment of computing power at national hub nodes will be continuously optimized to meet the demand in key application areas [2] Group 2: Infrastructure Development - A national integrated computing power network will be accelerated, supporting local collaboration and joint construction [2] - The establishment of a new type of computing power network infrastructure will include unified monitoring, scheduling, elastic supply, and security guarantees [2] Group 3: Resource Allocation - Various computing power resources will be guided to efficiently and accurately connect with the needs of digital innovation enterprises [2] - National hub nodes are encouraged to provide low-cost, wide-coverage, and reliable computing power services to digital innovation enterprises, thereby lowering the threshold for computing power usage [2]

Market Overview - The market experienced a day of volatility with the ChiNext Index falling over 2.5%. The total trading volume in the Shanghai and Shenzhen markets was 2.15 trillion yuan, a decrease of 224.2 billion yuan compared to the previous trading day. Over 3,400 stocks declined across the market [1][8] Sector Performance Wind Power Sector - The wind power sector showed strength, with companies like Jixin Technology and Weili Transmission hitting the daily limit. The National Energy Administration reported that as of the end of August, the total installed power generation capacity in the country reached 3.69 billion kilowatts, a year-on-year increase of 18.0%, with wind power capacity at 580 million kilowatts, up 22.1% year-on-year. Analysts suggest that wind turbine manufacturers may still present investment opportunities due to a combination of factors including rising profitability and overseas market potential [2][7] Nonferrous Metals Sector - The nonferrous metals sector was also active, with Jingyi Co. achieving a three-day limit increase. The China Nonferrous Metals Industry Association expressed strong opposition to "involution" competition in the copper smelting industry. Additionally, the Grasberg mine in Indonesia, the second-largest copper mine globally, announced a force majeure due to a landslide, impacting production [2][10] Individual Stock Performance - The market saw a significant increase in losses, particularly among high-profile stocks. Companies such as Huasoft Technology and Kaimete Gas hit the daily limit down. The technology sector, which had been a market leader, experienced notable declines, with stocks like Luxshare Precision and Industrial Fulian dropping over 5% [5][6] Future Market Analysis - The market is expected to continue its adjustment phase, with the ChiNext Index showing relative weakness. The Shanghai Composite Index is maintaining a range between 3,740 and 3,900 points. Analysts believe that as long as this range is not broken, market risks remain limited. The recent declines may be attributed to profit-taking ahead of the holiday, and there may be opportunities for recovery in popular sectors once selling pressure is alleviated [8][10]

Core Viewpoint - The article discusses measures issued by the National Development and Reform Commission and other departments to strengthen the cultivation of innovative enterprises in the digital economy, aiming to accelerate the emergence of more "gazelle" and "unicorn" companies in this sector [1][12]. Group 1: Mechanisms and Support - Establish a mechanism for discovering innovative digital enterprises by creating a cultivation database that selects and categorizes enterprises with strong innovation capabilities and development potential annually [2][12]. - Strengthen multi-dimensional data usage guarantees by encouraging local governments to establish public data authorization and operational mechanisms, promoting sustainable supply and utilization of public data [3][13]. - Enhance computing power resource support through the implementation of the "East Data West Computing" project, ensuring the deployment of computing power at national hub nodes [4][14]. Group 2: Innovation and Transformation - Improve original innovation capabilities by encouraging state-owned enterprises and industry leaders to lead collaborative innovation and share various innovation resources with digital enterprises [5][15]. - Establish a mechanism for the transformation of scientific and technological achievements, promoting deep integration of production, education, and research [6][15]. - Strengthen the supply of scenarios and opportunities by aligning urban digital transformation with market opportunities, enhancing the application of new technologies [7][16]. Group 3: Internationalization and Financing - Enhance services for enterprises going abroad by supporting participation in international exhibitions and technology exchanges, showcasing innovative achievements [8][17]. - Optimize investment and financing services by encouraging financial institutions to provide market-oriented financial services tailored to the needs of digital enterprises [9][18]. Group 4: Regulatory Environment and Talent Development - Establish an open and prudent innovation environment by exploring "sandbox regulation" models to minimize unnecessary disruptions to enterprise operations [10][19]. - Strengthen talent development by optimizing digital economy-related academic programs in higher education institutions and promoting a talent evaluation system [11][20].

Core Viewpoint - The National Development and Reform Commission and five other departments have issued measures to strengthen the cultivation of innovative enterprises in the digital economy, aiming to accelerate the emergence of more "gazelle" and "unicorn" companies in this sector [18]. Group 1: Mechanisms and Support - Establish a mechanism for discovering innovative digital enterprises by creating a cultivation database that selects and categorizes enterprises with strong innovation capabilities and development potential annually [4][19]. - Strengthen multi-dimensional data usage guarantees by encouraging local governments to establish public data authorization and operational mechanisms, promoting sustainable supply and utilization of public data [5][20]. - Enhance computing power resource support through the implementation of the "East Data West Computing" project, optimizing the deployment of computing resources across key application areas [6][21]. Group 2: Innovation and Transformation - Improve original innovation capabilities by encouraging state-owned enterprises and industry leaders to lead collaborative innovation and share various innovation resources with digital enterprises [8][22]. - Establish a mechanism for the transformation of scientific and technological achievements, promoting deep integration of production, education, and research [10][22]. - Strengthen the supply of scenarios and opportunities by aligning urban digital transformation with market opportunities for enterprises, enhancing the availability of high-quality application scenarios [11][23]. Group 3: Internationalization and Financing - Enhance services for enterprises going abroad by supporting participation in international exhibitions and technology exchanges, showcasing innovative achievements [13][24]. - Optimize financing services by encouraging financial institutions to provide market-oriented financial services tailored to the needs of digital enterprises, and support qualified enterprises in going public [14][25]. Group 4: Regulatory Environment and Talent Development - Establish an open and prudent innovation environment by exploring "sandbox regulatory" models to minimize unnecessary disruptions to enterprise operations [15][26]. - Strengthen talent development by optimizing digital economy-related academic programs in higher education institutions and promoting a talent evaluation system [17][26].

Core Viewpoint - The National Development and Reform Commission (NDRC) and other departments have issued measures to strengthen the cultivation of innovative enterprises in the digital economy, aiming to accelerate the growth of "gazelle" and "unicorn" companies in this sector [1][3]. Group 1: Mechanisms for Discovery and Support - Establish a mechanism for discovering innovative digital economy enterprises, creating a database to classify and monitor these companies annually [3]. - Form specialized selection and cultivation teams that include various stakeholders such as government, enterprises, and investment institutions to enhance support for digital economy enterprises [3]. Group 2: Data and Resource Utilization - Encourage local governments to establish public data operation mechanisms to ensure sustainable supply and utilization of public data for digital economy enterprises [4]. - Support the development of data service platforms by leading enterprises to provide accessible data products and services to digital economy enterprises [4]. Group 3: Computing Power and Innovation - Implement the "East Data West Computing" project to optimize computing power resources and ensure they meet the needs of digital economy enterprises [5]. - Promote original innovation capabilities by encouraging collaboration among state-owned enterprises and leading companies to share resources and support digital economy enterprises [5]. Group 4: Results Transformation and Market Opportunities - Encourage research institutions and universities to create mechanisms for transforming scientific research results into marketable products, focusing on the needs of digital economy enterprises [6]. - Support local initiatives to match market opportunities with enterprise capabilities, fostering the development of high-quality application scenarios [7]. Group 5: International Cooperation and Financing - Enhance international cooperation in the digital economy, providing better policy support for digital economy enterprises to expand into overseas markets [8]. - Encourage financial institutions to offer tailored financial services to digital economy enterprises, including venture capital and credit evaluation models [9]. Group 6: Regulatory Environment and Talent Development - Explore "sandbox regulation" models to allow for innovative practices in a controlled environment, minimizing unnecessary disruptions to enterprises [10]. - Support the development of digital talent through educational institutions and create a comprehensive service system for talent management in the digital economy [11].

Core Viewpoint - The National Development and Reform Commission (NDRC) has released measures to strengthen the cultivation of innovative enterprises in the digital economy, aiming to foster more "gazelle" and "unicorn" companies through a forward-looking layout and an open innovation ecosystem [1]. Group 1: Mechanisms for Discovering and Cultivating Digital Enterprises - The NDRC and the National Data Bureau will establish a database for cultivating digital enterprises, selecting a batch of innovative and high-potential companies annually for dynamic adjustment [1]. - Local data management departments will enhance services and monitoring for these enterprises, providing targeted support and policies [1]. - A specialized selection and cultivation team will be formed, integrating government, enterprises, innovation, and investment [1]. Group 2: Data Utilization and Security - Local governments are encouraged to establish public data authorization and operational mechanisms to promote sustainable supply and utilization of public data [2]. - Digital enterprises will be supported to participate fairly in public data resource development, exploring cost-sharing and revenue-sharing models [2]. - The issuance of "data vouchers" and "algorithm vouchers" is encouraged to reduce data usage costs for enterprises [2]. Group 3: Support for Computing Resources - The implementation of the "East Data West Computing" project will be deepened, focusing on the deployment of computing resources and optimizing demand in key application areas [3]. - A national integrated computing network will be constructed, promoting orderly pooling and operation of computing resources [3]. - Digital enterprises will be encouraged to access low-cost and reliable computing services from national hub nodes [3]. Group 4: Investment and Financing Services - Financial institutions are encouraged to provide market-oriented financial services tailored to the needs of digital enterprises [4]. - Venture capital guidance will be strengthened, and the evaluation mechanism for state-owned venture capital will be optimized [4]. - Financial institutions are urged to develop credit evaluation models suited to digital enterprises, enhancing financial support [4]. Group 5: Innovation Environment - A "sandbox regulatory" model will be explored to allow for cautious experimentation while minimizing unnecessary disruptions to enterprises [5]. - The regulatory framework will be refined to prevent redundant inspections and promote efficient resolution of enterprise issues [5]. - Local governments will be supported in optimizing services related to enterprise governance, utilizing smart technology for policy implementation [5].

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing fluctuations in stock performance, with a recent drop of 5.76% and a market capitalization of 18.572 billion yuan. The company is positioned in the high-speed cable and optical fiber sectors, benefiting from trends in 5G and machine vision technologies [1][2]. Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. Its main business includes the design, manufacturing, and sales of data cables, special cables, and connection products. The revenue composition is as follows: 43.60% from category 6 and below data communication cables, 20.81% from category 6A and above, 18.04% from special cables, 11.62% from connection products, and 5.94% from other sources [7]. Financial Performance - For the first half of 2025, the company achieved a revenue of 972 million yuan, representing a year-on-year growth of 14.29%. The net profit attributable to shareholders was 89.61 million yuan, showing a significant increase of 50.30% compared to the previous year [7]. Market Position and Trends - The company has established itself as a core partner in the active cable (AEC) sector for international leading interconnect solution providers, leveraging its technological expertise in high-speed cables [2]. - The company’s optical products include fiber jumpers and connectors, primarily serving high-end projects in finance, education, and healthcare, while also expanding into overseas markets [2]. - Zhaolong Interconnect is one of the few domestic companies capable of designing and manufacturing data cables up to category 8, meeting the new data transmission demands of the 5G era [2]. Shareholder and Dividend Information - As of June 30, 2025, the number of shareholders increased by 24.73% to 35,000, with an average of 7,265 shares held per person, a decrease of 3.80% [7]. - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8]. Investment and Market Dynamics - The company’s overseas revenue accounted for 61.93% of total revenue, benefiting from the depreciation of the Chinese yuan [3]. - The stock has seen a net outflow of 82.56 million yuan today, with a lack of clear trends in major shareholder movements [4][5].

Core Viewpoint - The National Development and Reform Commission (NDRC) has issued measures to strengthen the cultivation of innovative enterprises in the digital economy, aiming to foster more agile and high-growth "data innovation enterprises" (数创企业) through a structured support system and collaboration among various stakeholders [1][3]. Group 1: Mechanisms for Discovery and Support - Establishment of a "data innovation enterprise cultivation database" to annually select and categorize innovative enterprises with strong potential, ensuring dynamic adjustments and targeted support from data management departments [3][4]. - Formation of specialized selection and cultivation teams comprising professionals from government, enterprises, research institutions, and investment agencies to create a collaborative support mechanism [3][4]. Group 2: Data Utilization and Resource Support - Encouragement for local governments to develop public data authorization and operational mechanisms, ensuring sustainable supply and utilization of public data for innovation [4][5]. - Promotion of "data vouchers" and "algorithm vouchers" in certain regions to reduce costs associated with data usage [4][5]. Group 3: Innovation and Transformation - Support for the establishment of a "research and development + organized results transformation" mechanism to enhance the integration of industry and academia, facilitating the commercialization of innovative outcomes [6][7]. - Encouragement for localities to create specialized service institutions for project selection, validation, and incubation to assist data innovation enterprises [6][7]. Group 4: Market Opportunities and International Cooperation - Support for localities to align urban digital transformation strategies with market opportunities for data innovation enterprises, fostering the development of replicable high-quality application scenarios [7][8]. - Strengthening international cooperation in the digital economy, providing better policy support for data innovation enterprises to expand into overseas markets [8][9]. Group 5: Financial and Investment Services - Encouragement for financial institutions to provide tailored financial services to data innovation enterprises, enhancing access to funding and investment opportunities [9][10]. - Promotion of a credit evaluation system that aligns with the characteristics of data innovation enterprises to improve their financing conditions [9][10]. Group 6: Talent Development and Regulatory Environment - Support for educational institutions to optimize digital economy-related programs and establish a talent evaluation system to meet industry needs [10][11]. - Exploration of a "sandbox regulatory" model to encourage innovation while minimizing unnecessary disruptions to enterprise operations [10][11].

Core Points - The National Development and Reform Commission and other departments issued measures to strengthen the cultivation of innovative enterprises in the digital economy [1][2] - The measures encourage the issuance of "data vouchers" and "algorithm vouchers" to reduce costs associated with data usage [1] - There is a focus on building data service platforms that support the entire industry chain and provide accessible data products and technical tools [1] Group 1 - The measures require the implementation of the "East Data West Computing" project, optimizing the deployment of computing power across the country [1] - A national integrated computing power network is to be constructed, promoting coordinated participation from local areas [1] - The measures aim to provide low-cost, reliable computing services to digital innovation enterprises, lowering the barriers to access [1] Group 2 - Financial institutions are encouraged to provide market-oriented financial services tailored to the needs of digital innovation enterprises [2] - There is an emphasis on enhancing venture capital guidance and optimizing the evaluation mechanism for state-owned venture capital [2] - A mechanism for discovering innovative digital enterprises will be established, with a focus on dynamic adjustments and targeted support [2]

Core Viewpoint - The document outlines measures to strengthen the cultivation of innovative enterprises in the digital economy, emphasizing the enhancement of computing power resources and the implementation of the "East Data West Computing" project [1] Group 1: Policy Measures - The National Development and Reform Commission, along with other governmental bodies, has issued measures to support the digital economy by reinforcing the supply of computing power resources [1] - The initiative aims to implement policies that ensure the deployment of computing power at national hub nodes and optimize the demand in key application areas [1] Group 2: Infrastructure Development - There is a focus on accelerating the construction of a national integrated computing power network, encouraging local collaboration in building this infrastructure [1] - The plan includes the establishment of a new type of computing power network infrastructure that integrates monitoring, scheduling, elastic supply, and security [1] Group 3: Support for Enterprises - The measures aim to facilitate efficient and precise matching of computing power resources with the needs of digital innovation enterprises [1] - National hub nodes are encouraged to provide low-cost, wide-coverage, and reliable computing power services to digital innovation companies, thereby lowering the barriers to accessing computing power [1]