Group 1 - The State-owned Assets Supervision and Administration Commission (SASAC) and the Chinese Academy of Sciences (CAS) signed a cooperation agreement to collaborate on artificial intelligence, advanced materials, and future energy [1] - The agreement involves 20 central enterprises and 21 research institutions under CAS, covering 40 key cooperation projects with a total signing amount exceeding 7 billion yuan [1] - SASAC Director Zhang Yuzhuo stated that 58 central enterprises have established 97 original technology sources, highlighting the synergy between CAS's innovation capabilities and the market advantages of central enterprises [3] Group 2 - In the past two years, over 600 cooperation agreements have been signed between central enterprises and CAS, with total project funding nearing 10 billion yuan [5] - Future collaboration will focus on long-term planning, systematic approaches, and comprehensive innovation cooperation, particularly in fields like integrated circuits, artificial intelligence, and quantum technology [5]

Core Insights - The State-owned Assets Supervision and Administration Commission (SASAC) and the Chinese Academy of Sciences (CAS) are enhancing their strategic cooperation, focusing on long-term, systematic, and integrated innovation collaboration [1][2] - A total of 20 central enterprises and 21 CAS-affiliated research institutions signed agreements on 40 key cooperation projects, with a total signing amount exceeding 7 billion yuan, covering areas such as artificial intelligence, advanced materials, and future energy [1] - The collaboration aims to leverage CAS's strong foundational research and original innovation capabilities alongside the central enterprises' advantages in application scenarios and market scalability, facilitating the transformation of scientific achievements into productive forces [1] Summary by Sections Strategic Cooperation - Since signing a strategic cooperation agreement in 2023, over 60 central enterprises and more than 60 CAS-affiliated research institutions have engaged in collaboration, resulting in over 600 cooperation agreements and nearly 10 billion yuan in project funding [2] - The cooperation is deepening, expanding into various fields, and accelerating the transition from technological strength to industrial and economic strength [2] Future Directions - The SASAC and CAS plan to focus on long-term planning, systematic layout, and integrated cooperation to enhance their collaboration model [1] - The shift from short-term cooperation to long-term synergy, from single-point breakthroughs to chain integration, and from individual efforts to collective action is emphasized [1]

Group 1: K Visa for Young Scientific Talent - China has introduced a new K visa to promote the exchange and cooperation of young scientific talent, which will provide more convenience in terms of entry frequency, validity period, and stay duration compared to existing visa categories [2][3] - The K visa targets foreign young scientific talents who have graduated from renowned universities or research institutions in STEM fields, and it does not require applicants to have secured employment in China prior to application [2][3] Group 2: Development of Intelligent Equipment and Systems - Six Chinese government departments have released a plan to boost the mechanical industry by focusing on the development of intelligent equipment and systems, integrating emerging technologies such as AI and quantum technology [4][5] - The policy aims to create a favorable environment for innovation and collaboration between AI companies and traditional industries, enhancing productivity and market expansion [5] Group 3: Industrial Profit Trends - From January to August, China's industrial enterprises achieved a total profit of 46,929.7 billion yuan, with a year-on-year growth of 0.9%, and a significant profit increase of 20.4% in August alone [6][7] - The equipment manufacturing sector showed a profit growth of 7.2%, while raw material manufacturing profits increased by 22.1%, indicating a recovery in the industrial sector [6][7] Group 4: Housing Fund Policy in Guangzhou - Guangzhou has expanded its housing fund withdrawal policy to include second-hand homes, allowing residents to use their housing fund for down payments, which is expected to stimulate the real estate market [8][9] - This policy aims to reduce the financial burden on homebuyers and promote a healthy cycle in the housing market, particularly in response to previous market adjustments [8][9] Group 5: Robotics Industry Developments - UBTECH has secured contracts worth 430 million yuan for its humanoid robots, indicating strong demand in the robotics sector, particularly from government and educational institutions [10][11] - Despite the growth in orders, UBTECH faces challenges in the consumer market due to higher pricing compared to competitors, which may affect its overall profitability [11] Group 6: U.S. Stock Market Trends - The proportion of stocks held by American households has reached a historical high of 45%, driven by rising stock prices and increased participation in the stock market [14] - The performance of the stock market is closely tied to household wealth, raising concerns about potential economic impacts if the market enters a downturn [14][15] Group 7: AI Industry Insights - The rise of AI technology has been a significant driver of the current bull market in the U.S., but there are concerns about the sustainability of this growth and the potential for a market correction similar to the dot-com bubble [15]

Core Viewpoint - The Ministry of Industry and Information Technology, along with five other departments, has released a plan aimed at stabilizing and promoting growth in the machinery industry from 2025 to 2026, targeting an average annual revenue growth rate of approximately 3.5% and aiming to exceed 10 trillion yuan in revenue [1] Group 1: Industry Goals and Objectives - The plan aims to maintain a stable and positive operational trend in the machinery industry, enhance the resilience and safety of key industrial chains, and improve the quality and efficiency of development [1] - It emphasizes the importance of the machinery industry as a foundational and strategic sector for the national economy, national defense, and public welfare [1] Group 2: Key Tasks and Measures - The plan outlines three main areas with 14 key tasks and three supporting measures to stimulate industry growth [1] - It focuses on expanding effective demand by tapping into domestic market potential, fostering new demand, and promoting digital transformation and intelligent upgrades in the industry [2] - The plan addresses the need to enhance the supply capacity of quality equipment by improving innovation capabilities, strengthening supply chain resilience, and developing intelligent equipment and systems [2] - It highlights the importance of integrating emerging technologies such as artificial intelligence and quantum technology into the machinery sector [2] Group 3: Enhancing Industry Vitality - The plan proposes measures to alleviate operational pressures on machinery enterprises, improve governance levels, and foster a conducive development ecosystem [3] - It includes initiatives to cultivate high-quality enterprises and promote regional coordinated development, leveraging existing financial resources and policy channels to support enterprise growth [3][4] - The plan aims to nurture world-class companies in key sectors and develop a range of high-tech and specialized enterprises [3] Group 4: Financial Support and Market Impact - The national industrial-financial cooperation platform is designed to integrate financial resources with industry needs, providing diverse financing channels and services to support enterprise innovation and expansion [4] - The utilization of industrial development funds is expected to offer long-term financial support for breakthroughs in critical technology areas and emerging markets [4] - High-quality enterprises in the machinery sector are seen as vital to the prosperity of the capital market, enhancing overall market quality and attractiveness [4]

Core Viewpoint - The Ministry of Industry and Information Technology, along with five other departments, has issued a work plan for the mechanical industry aimed at maintaining stable growth from 2025 to 2026, targeting an average annual revenue growth rate of approximately 3.5% and a revenue exceeding 10 trillion yuan [1] Group 1: Objectives and Key Tasks - The plan aims to enhance the resilience and safety of key industrial chains and supply chains, improve quality and efficiency, and foster competitive small and medium-sized enterprises and industry clusters with international competitiveness [1] - It emphasizes the need to expand effective demand by tapping into domestic market potential, fostering new demand, increasing effective investment, promoting digital transformation, and deepening open cooperation [2] - The plan addresses the need to improve the supply capacity of quality equipment by enhancing innovation capabilities, strengthening supply chain resilience, and developing intelligent equipment and systems [2] Group 2: Industry Growth and Support Measures - The plan outlines tasks to stimulate industry growth, including nurturing quality enterprises, promoting regional coordinated development, increasing support for enterprises, and creating a favorable development ecosystem [3] - It highlights the importance of utilizing national financial cooperation platforms and industrial development funds to provide diversified financing channels and long-term funding support for enterprises [4] - The development of high-quality enterprises is seen as a cornerstone for a thriving capital market, enhancing overall market quality and attractiveness [4]

Core Viewpoint - The Ministry of Industry and Information Technology, along with five other departments, has released the "Mechanical Industry Stabilization and Growth Work Plan (2025-2026)", focusing on the development of intelligent equipment and systems [1] Group 1: Development Focus - Emphasis on the innovation and development of intelligent equipment, including general large models and industry-specific models [1] - Integration of emerging technologies such as artificial intelligence, quantum technology, advanced materials, and Beidou navigation with equipment innovation [1] Group 2: Strategic Objectives - Targeting national defense and strategic needs, the plan aims to break through in areas such as industrial mother machines, intelligent instruments, intelligent detection equipment, and mining safety equipment [1] - Development of intelligent equipment for improving quality of life, including smart agricultural machinery, medical equipment, service robots, and emergency safety equipment [1] Group 3: Global Trends and User Needs - Addressing global technological innovation trends and future industry demands, the plan focuses on high-end equipment like intelligent robots [1] - Encouragement for equipment companies to focus on personalized user needs and enhance smart service functions such as data acquisition, interconnectivity, and autonomous execution [1] Group 4: Ecosystem and Innovation Mechanism - Promotion of collaboration between equipment companies and industry interconnection service providers to create an interconnected equipment ecosystem while ensuring data security [1] - Improvement of the intelligent manufacturing system solution mechanism to drive innovation breakthroughs in processes, equipment, and software [1]

Core Viewpoint - Guangzhou Tinci Materials Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with J.P. Morgan, CITIC Securities, and GF Securities as joint sponsors. The company is already listed on the Shenzhen Stock Exchange [1]. Company Overview - The company is a technology-driven new energy and advanced materials firm, focusing on providing lithium-ion battery materials, daily chemical materials, and specialty chemical solutions to global enterprise clients [3]. - Its lithium-ion battery materials business includes electrolyte and core materials, cathode materials (iron phosphate, lithium iron phosphate), PACK structural adhesives, and binders. The daily chemical materials and specialty chemicals segment includes carbomer, surfactants, silicone oil, and cationic conditioning agents [3]. Revenue Contribution - The majority of the company's revenue comes from lithium-ion battery materials, which is a strategic focus, while a smaller portion comes from daily chemical materials and specialty chemicals [3]. Production and Supply Chain - The company has integrated the complete value chain for key raw materials of electrolytes, including LiPF6, LiFSI, additives, and lithium carbonate. It has successfully expanded into cathode materials and adhesives for lithium batteries, forming a comprehensive solution for lithium-ion battery materials [3]. - As of June 30, 2025, the self-supply ratios for LiPF6, LiFSI, DTD additives, and high-purity lithium carbonate are projected to reach 99.0%, 97.0%, 90.0%, and 100.0%, respectively, ranking first in the industry [4]. Production Network - The company has established a production network extending beyond China, with 15 operational production bases and one under construction in China. It also collaborates with two contract manufacturers in the U.S. and Germany, with plans to establish production bases in Morocco and the U.S. [4]. Customer Dependency - The company's total sales to its top five customers accounted for approximately 70.8%, 71.2%, 58.7%, and 58.7% of total revenue for the years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [5]. Financial Performance - The company reported revenues of RMB 22.32 billion, RMB 15.40 billion, RMB 12.52 billion, and RMB 7.03 billion for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, respectively. Corresponding profits were approximately RMB 5.84 billion, RMB 1.84 billion, RMB 478 million, and RMB 265 million [5][6].

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Guangzhou Tinci Materials Technology Co., Ltd. 廣州天賜高新材料股份有限公司 (the "Company") (A joint stock limited company incorp ...

Core Viewpoint - The company, 博深股份有限公司, held an investor meeting to discuss its performance and future strategies, focusing on its vision to become a leading provider of advanced materials and high-end equipment solutions [2]. Group 1: Company Strategy and Vision - The company aims to leverage its position as a key player in the advanced materials and high-end equipment sectors, with a vision of becoming an "internationally leading, domestically first-class comprehensive solution provider" [2]. - 博深股份 intends to combine internal growth with external acquisitions to enhance its market position and capitalize on available resources [2]. - The company is exploring opportunities in the new energy, new materials, and new equipment sectors, with a focus on technological integration and potential mergers and acquisitions [2]. Group 2: Shareholder and Market Information - Shareholder 陈怀荣 has reduced his stake by 2,872,400 shares, leaving him and his associates with 26,341,824 shares, which is approximately 5% of the total share capital [2]. - The company emphasizes its commitment to market value management and stable dividend policies to reward investors [2]. Group 3: Research and Development - 博深股份 plans to increase its R&D investment to nearly 60 million yuan in 2024, focusing on expanding the application of its products and enhancing competitiveness [2]. - The company is actively working on the development of artificial diamond materials, which are crucial for its tool production, and aims to capture new business opportunities through increased R&D efforts [2]. Group 4: Business Operations and Opportunities - The company’s rail transit equipment components are utilized in high-speed train operations and manufacturing, with potential opportunities arising from the new railway projects [2]. - 博深股份 is committed to providing customized solutions that enhance value along the supply chain, thereby improving its competitive edge [2].

Group 1 - The 2025 International New Energy Expo in Changzhou has commenced, featuring 33 key projects with a total investment exceeding 33.7 billion yuan, covering various fields such as talent, scientific innovation, and industry [1] - Changzhou has established a comprehensive industrial ecosystem focusing on five key areas: generation, storage, transmission, usage, and networks, showing significant development results [1] - In the first half of this year, Changzhou's production of new energy vehicles reached 391,000 units, marking a growth of 42.3% [1] - From January to July, the output value of large-scale enterprises in the new energy sector in Changzhou reached 507.7 billion yuan, a year-on-year increase of 4.3% [1] - Last year, the scale of Changzhou's new energy industry surpassed 850 billion yuan, with a target to reach one trillion yuan this year [1] - As a national carbon peak pilot city, Changzhou has innovatively established a chief carbon officer system for enterprises, promoting the construction of a new energy system and ESG framework [1] Group 2 - The second half of the new energy sector is characterized by the deep integration of "Watt Economy" and "Bit Economy" [2] - Changzhou aims to use artificial intelligence as a key driver for future industrial development, actively constructing a "6+X" future industrial system [2] - The focus will be on developing six growth-oriented future industries, including artificial intelligence, embodied intelligence, new energy storage, synthetic biology, advanced materials, and compound semiconductors [2]