Group 1 - The new policy titled "Shenyang City Policy for Promoting High-Quality Development of Digital Economy" focuses on key aspects such as data openness, computing power usage, and platform sharing to enhance the digital economy [1][2] - The policy introduces several new measures including the establishment of computing power vouchers, data vouchers, and annotation vouchers to support enterprises [1][2] - The computing power voucher allows companies to receive a subsidy of 20% on actual purchases exceeding 250,000 yuan, with a maximum annual subsidy of 1 million yuan per enterprise [2] Group 2 - The data voucher incentivizes market participants to open data by providing a reward of 10% of the actual transaction amount, capped at 500,000 yuan [2] - The annotation voucher rewards outstanding enterprises with up to 1 million yuan, while data annotation platforms achieving key technological breakthroughs can receive up to 5 million yuan in subsidies [2] - Excellent digital economy demonstration areas such as parks and bases can receive rewards of up to 5 million yuan [2]

Core Insights - The establishment of the Liaoning Software and Information Technology New Industrialization Institute aims to enhance the integration of software with the real economy and promote modernization of the industrial chain [1][2] - The institute is a collaborative effort involving the Liaoning Provincial Department of Industry and Information Technology, Northeast University, the Liaoning Software Association, Shenyang International Software Park, and leading industry enterprises [1] Group 1 - The institute will focus on building four core platforms to stimulate new momentum in industrial development [2] - A digital talent cultivation platform will be established to train composite software talents and provide high-quality graduates, along with employee skills training based on enterprise needs [2] - An industrial software technology innovation platform will be created to break through key core technologies and incubate technology-driven innovative enterprises [2] Group 2 - An industry empowerment service platform will leverage the technical advantages of software companies to assist in digital transformation and advance standardization efforts [2] - A provincial collaborative innovation platform will facilitate the transfer and transformation of university patent achievements to enterprises and organize technology docking activities between schools and enterprises [2] - The initiative aligns with national strategies for new industrialization and aims to seize opportunities in the digital economy [1]

Core Insights - The 2025 GDP ranking of cities shows that the Yangtze River Delta, Pearl River Delta, Chengdu-Chongqing, and Beijing-Tianjin-Hebei economic zones occupy 22 out of 30 positions, accounting for over 80% of the list, reflecting China's economic resilience and regional coordinated development strategy [1] Group 1: Yangtze River Delta - The Yangtze River Delta holds 10 positions in the top 30, with Shanghai leading at a GDP of 57,073.36 billion yuan and a growth of 5.84%, contributing 3,146.65 billion yuan to the total increment [2] - Hangzhou leads the new first-tier cities in the Yangtze River Delta with a growth rate of 5.90%, where the digital economy's core industries account for 37% of its GDP [3] Group 2: Pearl River Delta - The Pearl River Delta has 6 cities in the top 30, with Shenzhen achieving a GDP of 39,025.67 billion yuan and a growth rate of 6.04%, marking it as a dual champion [4] - Dongguan, with a GDP of 12,888.04 billion yuan, shows resilience in its transformation from a "world factory" to a "smart manufacturing hub" [5] Group 3: Chengdu-Chongqing - The Chengdu-Chongqing region has 3 cities in the top 30, with Chengdu leading at a growth rate of 6.25% and an increment of 1,470.05 billion yuan [7] - Chongqing's GDP stands at 33,816.36 billion yuan with a growth rate of 5.04%, indicating challenges in traditional industrial transformation [7] Group 4: Beijing-Tianjin-Hebei - The Beijing-Tianjin-Hebei region has 3 cities in the top 30, with Beijing's GDP at 52,781.23 billion yuan and an increment of 2,938.13 billion yuan [8] - Tianjin shows steady growth at 3.31%, with its biopharmaceutical industry revenue exceeding 800 billion yuan [8] Group 5: Overall Economic Insights - The data reflects the comprehensive results of regional strategic positioning, industrial layout, and infrastructure investment, showcasing differentiated growth across the four economic zones [11]

Core Viewpoint - AXS Esoterica NextG Economy ETF (WUGI) aims for capital appreciation by investing in companies benefiting from the digital economy, focusing on next-generation connectivity, cloud infrastructure, semiconductors, AI-enabled software, and internet platforms [1] Investment Strategy - The portfolio is research-driven and concentrated across global innovators of varying market caps, allowing for the pursuit of emerging leaders alongside established platforms [1] - The fund's focus can lead to pronounced growth and momentum tilts, with risks characterized by higher idiosyncratic and sector volatility [1] Performance Drivers - WUGI may excel when innovation and productivity narratives drive earnings revisions, while defensive or rate-shock regimes can challenge performance and compress multiples [1] - Practical roles for the fund include serving as a satellite growth sleeve to amplify exposure to digital transformation and as a thematic mandate for targeted innovation exposure [1] Target Investor Profile - Suitable for return-seeking allocators comfortable with active, concentrated tech exposure and multi-manager strategies using it as a high-conviction complement [1] Risk Considerations - A key risk to monitor is concentration at both industry and single-issuer levels, which can magnify drawdowns during factor rotations [1]

Core Insights - The 2026 provincial data work conference in Jiangsu highlighted significant achievements in public data resource system construction and market-oriented data factor allocation reforms, with the introduction of the first provincial data regulation following the "Twenty Data Articles" [1][2] - Jiangsu ranked first nationally with seven projects selected as national trusted data space innovation development pilots, showcasing the province's leadership in data industry development [1] Group 1: Achievements in 2025 - Jiangsu made breakthroughs in public data resource system construction, leading the nation in data factor marketization reforms [1] - The province's data industry development has gained momentum, with data labeling and high-quality data set construction ranking among the best in the country [1] Group 2: 2026 Key Tasks - High-quality planning for the construction of a digital Jiangsu and the development and utilization of data resource systems [2] - Completion of the three-year action plan for public data and enhancement of operational efficiency in public data scenarios [2] - Acceleration of market-oriented data factor allocation reforms and establishment of a unified data property registration system [2] - Promotion of data technology innovation and integration with industrial innovation, fostering specialized data industry clusters [2] - Advancement of the national digital economy innovation development pilot zone and enhancement of monitoring and evaluation mechanisms [2] - Development of a digital society with 200 typical application scenarios and promotion of city-wide digital transformation trials [2] - Strengthening data empowerment for artificial intelligence development through infrastructure upgrades and algorithm model innovations [2] - Enhancement of digital government construction and high-level operation of the "Su Zheng Yuan" platform [2] - Improvement of government service efficiency and optimization of the "One Form" system application [2] - Ensuring data work safety and enhancing awareness and skills [2]

Group 1 - ARK Invest, led by Cathie Wood, is increasing its stake in Roblox (RBLX) across multiple funds, indicating a strategic shift towards long-term innovation themes [1] - Roblox has a market capitalization of $58 billion and operates a user-generated gaming platform that is popular among younger demographics, with a 33% stock price increase over the past year, although it remains 45% below its all-time highs [2] - The platform is seen as having significant potential in the metaverse and digital economy, with efforts to expand its user base beyond children and improve monetization through virtual goods [3] Group 2 - Roblox reported a 70% year-over-year increase in daily active users (DAUs) to 151.5 million in Q3, with bookings also rising 70% to $1.92 billion [5] - Users aged 13 and older now represent two-thirds of total DAUs, with this demographic growing 89% annually, and international expansion has led to a doubling of bookings in the Asia-Pacific region [6] - Management has increased developer exchange rates by 8.5%, which is expected to boost annual creator earnings by $95 million, with total creator payouts surpassing $1 billion in the first nine months of 2025 [7]

Core Insights - The data enterprises are identified as the "main force" in the development of the data industry, with Jiangsu Province announcing its first batch of data enterprises for cultivation, including 2,110 operating entities across six core areas [1][2] Group 1: Purpose of Data Enterprise Cultivation - The cultivation of data enterprises aims to clarify the "assets" of data companies in the province and establish a comprehensive cultivation system that includes policy guidance, resource matching, precise empowerment, and demonstration-driven initiatives [2] Group 2: Characteristics of the First Batch of Enterprises - The first batch of data enterprises in Jiangsu showcases a "full-chain coverage" characteristic, highlighting the integrity and vitality of the province's data industry ecosystem [3] - In the data resource supply sector, companies like Shurong Zhili (Xuzhou) Information Technology operate over 3 billion high-quality data assets, with an annual data call volume exceeding 1 billion [3] - In data technology innovation, Suzhou Tangyuan Technology's "Yuta" intelligent driving data platform reduces data processing and training costs by 80%, facilitating the large-scale production of L2+ and L4 autonomous driving technologies [3] - In data application services, Suwen Electric (300982) has built a structured data resource pool exceeding 10 billion, serving various users 9 million times [3] Group 3: Data Security and Highlights of Enterprises - Jiangsu Yuntian Network Security Technology Co., Ltd. achieves millisecond-level automated response to security incidents, reinforcing the data industry's security defenses [4] - The enterprises cover 13 districts, with Nanjing, Suzhou, and Wuxi accounting for 58% of the total, forming core growth poles in the data industry [5] - The enterprises span multiple key industries, including intelligent manufacturing, biomedicine, modern transportation, and artificial intelligence, clearly demonstrating the development line of "data empowering the real economy" [5] - Among the registered enterprises, 54% are above designated size, and 39% have data business revenues accounting for over 80% of total revenue, indicating that data elements are becoming a significant revenue pillar for many companies [5]

Core Insights - Argentinian cryptocurrency exchange Lemon has launched a Bitcoin-collateralized Visa credit card, allowing users to access financing in pesos without selling their BTC holdings [1][2] Group 1: Product Overview - The Bitcoin-backed Visa credit card allows users to deposit 0.01 Bitcoin (valued at over $900) as collateral to receive a credit card with a limit of $1,000,000 pesos [3] - The card is designed to hold Bitcoin as collateral without selling or converting it, emphasizing Bitcoin's value as a store of wealth [3][6] Group 2: Future Developments - In the next phase, users will have the ability to configure their own backup and credit limits, and Lemon is working on enabling dollar-denominated purchases using stablecoins like USDT and USDC [4] Group 3: User Benefits - Users will enjoy commission-free purchases of various cryptocurrencies and exclusive benefits such as early access to new features and market information [5] - The initial three months of card maintenance will be waived, with a subsequent fee waiver for users purchasing over $150 worth of cryptocurrency monthly [5] Group 4: Market Position - Bitcoin is the most held asset among Lemon users, surpassing the crypto dollar and the peso, indicating a strong preference for Bitcoin as a savings tool [6]

Core Insights - The integration of digital economy and physical economy has made Alibaba's platform a crucial space for businesses to expand online channels and enhance brand value [1] - Many enterprises, especially small and medium-sized ones, struggle with independent store operations due to complex platform rules and fierce competition, leading to the rise of professional Alibaba store operation service providers [1] - These service providers act as a bridge between businesses and the platform, utilizing data analysis, visual design, marketing promotion, and supply chain collaboration to reduce trial and error costs and improve operational efficiency [1] Industry Overview - The Alibaba store operation service market is evolving towards specialization, segmentation, and technological advancement, with a focus on professional capabilities that align with the specific needs of businesses [14][15] - Companies are encouraged to assess service providers based on their core competencies, industry characteristics, and strategic goals rather than solely on price or promises [15] Recommended Service Providers - **Guangdong Wanhe E-commerce Co., Ltd.**: Rated five stars with a score of 9.99, this company focuses on providing one-stop e-commerce operation solutions for SMEs, emphasizing data-driven strategies and a strong operational team [4][5] - **Zhongshan Xinggu Information Technology Co., Ltd.**: Also rated five stars with a score of 9.99, this innovative company combines technology development with e-commerce operations, offering intelligent and efficient store management solutions [6][7] - **Shenzhen Huaki Network Technology Co., Ltd.**: Rated five stars with a score of 9.99, this company excels in brand building and integrated marketing, helping clients enhance their professional image and trustworthiness on the Alibaba platform [8][9] - **Hangzhou Guangyun Technology Co., Ltd.**: Rated four stars with a score of 9.8, this leading e-commerce SaaS provider integrates software tools with operational services to address efficiency bottlenecks [9][10] - **Shanghai Baozun E-commerce Co., Ltd.**: Rated four stars with a score of 9.7, this well-known brand e-commerce service partner focuses on multi-channel strategies and supply chain management for domestic and international brands [10][11] - **Zhejiang Haibo Network Technology Co., Ltd.**: Rated four stars with a score of 9.6, this company is known for its solid operational foundation and stable traffic acquisition capabilities, particularly in industrial categories [11][12] - **Beijing Huibo Yuntong Technology Co., Ltd.**: Rated three stars with a score of 9.5, this company combines e-commerce operation services with digital transformation consulting, suitable for medium to large enterprises undergoing digital transitions [13] Selection Guide - Businesses should clarify their core needs when selecting an Alibaba store operation service provider, whether it is for rapid sales growth or brand image enhancement [14] - The choice between service providers like Guangdong Wanhe E-commerce and Zhongshan Xinggu Information Technology should be based on specific operational and technological needs [15]

Group 1 - The A-share market shows a mixed performance in the morning session, with software concept stocks leading the gains, including Zhongke Xingtou, Weining Health, and Hehe Information, which all rose over 13% [1] - The software ETF (159852) saw an intraday increase of over 6%, reflecting the positive sentiment in the software sector [1] - Artificial intelligence is becoming the core engine of a new round of technological transformation, fundamentally reshaping the form, architecture, and industrial ecology of software [1] Group 2 - Domestic leading companies are expected to accelerate their layout in industrial large models and intelligent systems, driven by continuous policy support, which will promote innovation and upgrading in industrial software [1] - The dual drive of localization and intelligence, combined with ongoing domestic policy enhancements, is likely to usher in a period of rapid development for China's industrial software industry [1] - In the context of increasing global technological competition, the autonomy and controllability of basic software are essential for national security and sustainable industrial development [1] Group 3 - The software ETF (159852) tracks the CSI Software Service Index, which selects 30 listed companies involved in software development and services to reflect the overall performance of the software service industry [2] - Notably, the software ETF (159852) has seen a cumulative net inflow of over 2.7 billion yuan in the past six months, as of January 9 [2]