Core Viewpoint - The recent surge in the ChiNext Composite Index, driven by sectors like photovoltaic and optical modules, highlights its significant elasticity and potential for investment opportunities [1][2]. Group 1: Index Performance and Changes - As of July 11, the ChiNext Composite Index has increased by 47.20% over the past year, outperforming other major indices in the A-share market [1]. - The Shenzhen Stock Exchange announced revisions to the index compilation method, introducing mechanisms for monthly removal of risk-warning stocks and negative ESG-rated stocks [1][2]. - The revised index now includes 1,316 sample stocks, covering 95% of ChiNext-listed companies, with a total market capitalization coverage of 98% [2]. Group 2: Investment Opportunities - The ChiNext Composite Index has shown a cumulative increase of 197.49% since its inception, significantly outperforming the ChiNext Index's 113.51% increase during the same period [3]. - Investment funds tracking the ChiNext Composite Index, such as the Invesco Great Wall ChiNext Composite Index Enhanced Fund, have demonstrated substantial excess returns, with a net value growth rate of 68.33% since its establishment [3]. - The AI industry trend is expected to support the performance of the ChiNext Composite Index, alongside anticipated regulatory reforms aimed at fostering innovation and growth for enterprises [3].

Core Viewpoint - A-share companies are experiencing significant profit growth, with many reporting year-on-year increases exceeding 100%, indicating a strong recovery and potential investment opportunities in the market [1][5][9]. Group 1: Companies with Exceptional Profit Growth - Limin Co. expects a net profit of 260 million to 280 million yuan for the first half of 2025, representing a year-on-year increase of 719.25% to 782.27% due to rising sales and prices of main products [3]. - Sanhe Pile anticipates a net profit of 60 million to 75 million yuan, marking a growth of 3090.81% to 3888.51% compared to the previous year, driven by market demand and improved cost control [4]. - Huayin Power forecasts a profit increase of over 40 times, with an expected net profit of 180 million to 220 million yuan, influenced by increased power generation and reduced fuel costs [3]. Group 2: Other Notable Companies - Spring Autumn Electronics projects a net profit of 90 million to 110 million yuan, reflecting a year-on-year increase of 236.05% to 310.72%, benefiting from the rapid penetration of AI PCs and the growth of the new energy vehicle sector [6]. - Jinqilin expects a net profit of approximately 106 million yuan, with a growth of around 222.36%, attributed to improved order delivery and increased sales [6]. - Beihua Co. anticipates a net profit of 98 million to 111 million yuan, showing a growth of 182.72% to 220.23%, driven by revenue growth and improved product margins [6]. Group 3: Market Trends and Investor Response - Over 100 A-share companies have reported a net profit increase of over 100% for the first half of 2025, indicating a robust market recovery [5][9]. - Following the announcement of significant profit forecasts, companies like Northern Rare Earth saw their stock prices surge, highlighting investor enthusiasm for strong earnings reports [9].

Group 1 - The Shanghai Stock Exchange has officially released the "1+6" policy supporting the reform of the Sci-Tech Innovation Board, which includes three business guidelines and two revised business guidelines aimed at enhancing the inclusiveness and adaptability of the system for technology companies that are in the growth stage and not yet profitable [2] - The guidelines specify that the Sci-Tech Growth Layer will include existing unprofitable companies and newly registered unprofitable companies, with no additional listing thresholds for unprofitable firms [2] Group 2 - The Ministry of Finance has issued a notice to guide state-owned commercial insurance companies to establish a long-term assessment mechanism and improve asset-liability management, emphasizing stable operations and enhanced investment management capabilities [3] Group 3 - The Shenzhen Stock Exchange announced an optimization of the ChiNext Composite Index, introducing mechanisms for monthly removal of stocks under risk warning and ESG negative screening, aimed at improving the quality of sample stocks without altering the index's positioning [4] Group 4 - The China National Railway Group reported that fixed asset investment in railways reached 355.9 billion yuan in the first half of the year, a year-on-year increase of 5.5%, with 301 kilometers of new lines put into operation [5] Group 5 - Meituan reported a record high of 150 million instant retail orders as of July 12, with significant order volumes for its popular services [6] Group 6 - Trump announced a 30% tariff on products imported from Mexico and the EU starting August 1, 2025, which may impact trade dynamics [7] Group 7 - Lanke Technology expects a revenue of approximately 2.633 billion yuan for the first half of 2025, a year-on-year increase of about 58.17%, and a net profit of 1.1 to 1.2 billion yuan, reflecting a growth of 85.5% to 102.36% [10] - The company has submitted an application for H-share listing on the Hong Kong Stock Exchange [10] Group 8 - Zijin Mining expects a net profit of approximately 23.2 billion yuan for the first half of 2025, a year-on-year increase of about 54%, driven by rising sales prices and increased production of gold and copper [13][14] Group 9 - The company Deguang is planning a major asset restructuring to acquire 100% of Haowei Technology, with the issuance of shares and cash payments involved [12] Group 10 - Two companies, Kanghua Biology and Yangdian Technology, announced potential changes in control, with ongoing discussions and no formal agreements yet signed [11] Group 11 - CITIC Securities suggests that the current market environment is favorable for increasing allocations to Hong Kong stocks, while low-priced manufacturing sectors may benefit from increased liquidity and policy expectations [16] - Guotai Junan indicates that a "transformation bull market" is forming, driven by a systematic reduction in discount rates and a shift in economic structure [17] - Zhongtai Securities highlights three core drivers for the current market breakthrough, including sustained policy expectations and a focus on TMT sectors for investment [18]

Core Viewpoint - The article summarizes significant announcements from various listed companies in the Shanghai and Shenzhen stock markets, highlighting changes in control, major asset acquisitions, and performance forecasts for the first half of 2025. Group 1: Control Changes and Stock Suspension - Yangdian Technology is planning a change in control, leading to a stock suspension starting July 14, 2025, for up to 2 trading days [3] - Yuanli Co. is also planning to acquire control of Fujian Tongsheng New Materials Technology, resulting in a stock suspension starting July 14, 2025, for up to 10 trading days [5] - Kanghua Bio is planning a change in control, with stock suspension starting July 14, 2025, for up to 2 trading days [6] - Fuda Alloy is planning to acquire at least 51% of Guangda Electronics, which constitutes a major asset restructuring but will not change the actual controller [7] Group 2: Performance Forecasts - Limin Co. expects a net profit of 260 million to 280 million yuan for H1 2025, a year-on-year increase of 719.25% to 782.27% due to rising sales and prices [9] - Zijin Mining anticipates a net profit of approximately 23.2 billion yuan for H1 2025, a year-on-year increase of about 54% [10] - Chunqiu Electronics forecasts a net profit of 90 million to 110 million yuan for H1 2025, an increase of 236.05% to 310.72% [11] - Jinqilin expects a net profit of around 106 million yuan for H1 2025, a year-on-year increase of 222.36% [12] - Beihua Co. anticipates a net profit of 98 million to 111 million yuan for H1 2025, a year-on-year increase of 182.72% to 220.23% [14] - Guojin Securities expects a net profit of 1.092 billion to 1.137 billion yuan for H1 2025, a year-on-year increase of 140% to 150% [15] - Jiu Yuan Silver Sea forecasts a net profit of 26.49 million to 32.25 million yuan for H1 2025, a year-on-year increase of 130% to 180% [16] - Lankai Technology expects a net profit of 1.1 billion to 1.2 billion yuan for H1 2025, a year-on-year increase of 85.5% to 102.36% [17] - Changcheng Securities anticipates a net profit of 1.335 billion to 1.407 billion yuan for H1 2025, a year-on-year increase of 85% to 95% [18] - Weilan Lithium Core expects a net profit of 300 million to 360 million yuan for H1 2025, a year-on-year increase of 79.29% to 115.15% [19] - Yinlong Co. forecasts a net profit of 161 million to 181 million yuan for H1 2025, a year-on-year increase of 60% to 80% [21] - Aopumai expects a net profit of approximately 37 million yuan for H1 2025, a year-on-year increase of 53.28% [22] - Bailong Dongfang anticipates a net profit of 350 million to 410 million yuan for H1 2025, a year-on-year increase of 50.21% to 75.97% [23] - Shanghai Electric expects a net profit of 1.754 billion to 2.087 billion yuan for H1 2025, a year-on-year increase of 32.18% to 57.27% [24] - Huazhong Securities expects a net profit of 1.035 billion yuan for H1 2025, a year-on-year increase of 44.94% [25] - Bailong Chuangyuan anticipates a net profit of 171 million yuan for H1 2025, a year-on-year increase of 42.68% [26] - Chengyi Pharmaceutical expects a net profit of 107 million to 119 million yuan for H1 2025, a year-on-year increase of 40% to 55% [27] - Jinhai Biological anticipates a net profit of 127 million to 141 million yuan for H1 2025, a year-on-year increase of 40% to 55% [28] - Kanda New Materials expects a net profit of 50 million to 55 million yuan for H1 2025, turning from loss to profit [29] - China Shenhua expects a net profit of 23.6 billion to 25.6 billion yuan for H1 2025, a year-on-year decrease of 8.6% to 15.7% [30] - ST Songfa anticipates a net profit of 580 million to 700 million yuan for H1 2025, turning from loss to profit [31] - Chengxing Co. expects a net profit of 16 million to 23 million yuan for H1 2025, turning from loss to profit [33] - Ningbo Fubon anticipates a net profit of 8 million to 12 million yuan for H1 2025, turning from loss to profit [34] - ST Yundong expects a loss of 100 million to 150 million yuan for H1 2025, worsening from the previous year [35] - Kairuide expects a loss of 15 million to 22 million yuan for H1 2025, turning from profit to loss [36] Group 3: Shareholding Changes - Defu Technology's shareholders plan to reduce their holdings by up to 4.04% [38] - Jinzhen Co.'s shareholders plan to reduce their holdings by up to 3.04% [39] - Shikong Technology's shareholder plans to reduce their holdings by up to 3% [40] - Qilu Bank's shareholder plans to reduce their holdings by up to 1.1% [41] - Zhongci Electronics' shareholder plans to reduce their holdings by up to 1% [42] - Jiamei Packaging's shareholders plan to reduce their holdings by up to 1% [43] - Saike Xide's shareholder plans to reduce their holdings by up to 1% [44] - Gongda High-tech's general manager plans to reduce their holdings by up to 0.3424% [46] - Qingyuan Co.'s shareholder plans to reduce their holdings by up to 273,800 shares [47] Group 4: Major Contracts - Dashijiang expects to win a procurement project worth 122 million yuan [49] - Robotech signed significant daily operational contracts worth approximately 14.18 million USD [50]

Core Viewpoint - The A-share market is experiencing a surge in positive earnings forecasts, with a significant number of companies reporting substantial year-on-year profit increases for the first half of 2025 [2][5]. Earnings Forecasts - A total of 510 A-share companies have released earnings forecasts for the first half of 2025, with 13 companies expecting net profit growth exceeding 800% [2]. - Limin Co. anticipates a net profit of 260 million to 280 million yuan, representing a year-on-year increase of 719.25% to 782.27% [5]. - Spring Autumn Electronics expects a net profit of 90 million to 110 million yuan, reflecting a growth of 236.05% to 310.72% [5]. - Jinjilin forecasts a net profit of 106 million yuan, up 222.36% year-on-year [5]. - Beihua Co. projects a net profit of 98 million to 111 million yuan, indicating a growth of 182.72% to 220.23% [6]. - Jiuyuan Yinhai expects a net profit of approximately 26.49 million to 32.25 million yuan, a growth of 130% to 180% [7]. - Guojin Securities anticipates a net profit of 1.092 billion to 1.137 billion yuan, reflecting a year-on-year increase of 140% to 150% [7]. - Lanqi Technology expects a net profit of 1.1 billion to 1.2 billion yuan, a growth of 85.50% to 102.36% [7]. - Weilan Lithium Core forecasts a net profit of 300 million to 360 million yuan, indicating a growth of 79.29% to 115.15% [7]. Gold Sector Performance - The gold sector is witnessing a significant earnings explosion, with companies like Zijin Mining, Zhongjin Gold, Hunan Gold, and Western Gold reporting substantial profit increases [4][11]. - Zijin Mining expects a net profit of approximately 23.2 billion yuan for the first half of 2025, a year-on-year increase of about 54% [8]. - Zhongjin Gold anticipates a net profit of 2.614 billion to 2.875 billion yuan, reflecting a growth of 50% to 65% [11]. - Hunan Gold projects a net profit of approximately 613 million to 701 million yuan, indicating a growth of 40% to 60% [12]. - Western Gold expects a net profit of approximately 130 million to 160 million yuan, a growth of 96.35% to 141.66% [13]. Market Conditions - The international gold price has been fluctuating at high levels, with COMEX gold closing at $3,370.3 per ounce as of July 11 [14]. - Global geopolitical conflicts are increasing uncertainty in the market, enhancing gold's safe-haven appeal and potentially boosting demand for gold assets [14].

Corporate Announcements - Yangdian Technology is planning a change in control, leading to a suspension of its stock from July 14, 2025, for up to 2 trading days [3] - Degute is planning to acquire 100% of Haowei Technology through a combination of share issuance and cash payment, with stock resuming trading on July 14, 2025 [4] - Yuanli Co. is planning to acquire control of Fujian Tongsheng New Materials Technology, resulting in a stock suspension starting July 14, 2025, for up to 10 trading days [5] - Kanghua Bio is also planning a change in control, with stock suspension from July 14, 2025, for up to 2 trading days [6] - Fuda Alloy is planning to acquire at least 51% of Guangda Electronics, which will constitute a major asset restructuring but will not change the actual controller [7] Performance Forecasts - Limin Co. expects a net profit of 260 million to 280 million yuan for the first half of 2025, a year-on-year increase of 719.25% to 782.27% [9] - Zijin Mining anticipates a net profit of approximately 23.2 billion yuan for the first half of 2025, a year-on-year increase of about 54% [10] - Chunqiu Electronics forecasts a net profit of 9 million to 11 million yuan, an increase of 236.05% to 310.72% year-on-year [12] - Jinqilin expects a net profit of approximately 106 million yuan, a year-on-year increase of 222.36% [13] - Beihua Co. anticipates a net profit of 98 million to 111 million yuan, a year-on-year increase of 182.72% to 220.23% [14] - Guojin Securities expects a net profit of 1.092 billion to 1.137 billion yuan, a year-on-year increase of 140% to 150% [15] - Jiuyuan Silver Sea forecasts a net profit of 26.49 million to 32.25 million yuan, a year-on-year increase of 130% to 180% [16] - Lankai Technology expects a net profit of 1.1 billion to 1.2 billion yuan, a year-on-year increase of 85.5% to 102.36% [17] - Changcheng Securities anticipates a net profit of 1.335 billion to 1.407 billion yuan, a year-on-year increase of 85% to 95% [18] - Weilan Lithium Core expects a net profit of 300 million to 360 million yuan, a year-on-year increase of 79.29% to 115.15% [19] - Yinlong Co. forecasts a net profit of 161 million to 181 million yuan, a year-on-year increase of 60% to 80% [20] - Aopumai expects a net profit of approximately 37 million yuan, a year-on-year increase of 53.28% [22] - Bailong Dongfang anticipates a net profit of 350 million to 410 million yuan, a year-on-year increase of 50.21% to 75.97% [23] - Shanghai Electric expects a net profit of 1.754 billion to 2.087 billion yuan, a year-on-year increase of 32.18% to 57.27% [24] - Huazheng Securities reports a net profit of 1.035 billion yuan, a year-on-year increase of 44.94% [25] - Bailong Chuangyuan expects a net profit of 171 million yuan, a year-on-year increase of 42.68% [26] - Chengyi Pharmaceutical anticipates a net profit of 107 million to 119 million yuan, a year-on-year increase of 40% to 55% [27] - Jinhai Biological expects a net profit of 127 million to 141 million yuan, a year-on-year increase of 40% to 55% [28] - Kangda New Materials forecasts a net profit of 50 million to 55 million yuan, turning from loss to profit [29] - China Shenhua expects a net profit of 23.6 billion to 25.6 billion yuan, a year-on-year decrease of 8.6% to 15.7% [30] - ST Songfa anticipates a net profit of 580 million to 700 million yuan, turning from loss to profit [31] - Chengxing Co. expects a net profit of 16 million to 23 million yuan, turning from loss to profit [32] - Bofubang anticipates a net profit of 8 million to 12 million yuan, turning from loss to profit [33] - ST Yundong expects a loss of 100 million to 150 million yuan, an increase in loss compared to the previous year [34] - Kerryde expects a loss of 15 million to 22 million yuan, turning from profit to loss [35] Shareholding Changes - Defu Technology's shareholders plan to reduce their holdings by up to 4.04% [37] - Jinzhen Co.'s shareholders plan to reduce their holdings by up to 3.04% [38] - Shikong Technology's shareholder plans to reduce their holdings by up to 3% [39] - Qilu Bank's shareholder plans to reduce their holdings by up to 1.1% [40] - Zhongci Electronics' shareholder plans to reduce their holdings by up to 1% [41] - Jiamei Packaging's shareholders plan to reduce their holdings by up to 1% [42] - Saike Xide's shareholder plans to reduce their holdings by up to 1% [43] - Gongda High-Tech's general manager plans to reduce their holdings by up to 0.3424% [44] - Qingyuan Co.'s shareholder plans to reduce their holdings by up to 273,800 shares [45] Major Contracts - Dash Intelligent has been pre-awarded a procurement project worth 122 million yuan [46] - Robotech has signed significant daily operational contracts amounting to approximately 1.418 million USD [48]

Core Insights - The Hong Kong stock market, represented by indices such as the Hang Seng Index and Hang Seng Tech, has significantly outperformed both the US and A-share indices in 2025, capturing the top three positions in year-to-date performance [1][2]. Group 1: Capital Inflow - As of last week, the net capital inflow from the southbound trading has reached 692.1 billion yuan, which is equivalent to 93.02% of the total inflow for the entire year of 2024 [4]. - In the first quarter of 2025, the southbound net inflow reached a historic high of 411.3 billion yuan, indicating strong investor interest [4]. - By the end of February 2025, the southbound inflow had already surpassed the total inflow for the years 2021-2023, and it is expected to exceed the total for 2024 soon [4]. Group 2: Investment Preferences - Prior to 2024, retail investors were the main contributors to southbound capital, but in 2025, institutional investors such as public funds and insurance companies have been the primary drivers, accounting for approximately 60% of the total inflow [6]. - Active public funds have primarily invested in sectors like internet, semiconductors, and innovative pharmaceuticals, while ETFs have also favored internet and innovative pharmaceutical sectors [7]. - Insurance capital has shown a preference for banking and insurance sectors within the Hong Kong market [7]. Group 3: Future Potential - Institutions estimate that there is still room for increased southbound capital allocation in the second half of 2025, with the total net inflow expected to exceed 1 trillion yuan for the year [9]. - Public funds are projected to contribute an additional 200-300 billion yuan in net inflow [13]. - The attractiveness of Hong Kong's scarce assets, particularly those related to the AI industry, is expected to drive further investment, with companies like Xiaomi, Tencent, and Alibaba benefiting from valuation recovery [13]. - The Hong Kong Tech 50 ETF (159750) has a high concentration of core internet stocks and covers various high-tech sectors, indicating a robust investment landscape [15].

Summary of Alibaba's Conference Call Company Overview - **Company**: Alibaba - **Date**: July 8, 2025 Key Points Industry and Business Strategy - Alibaba announced a significant investment of **500 billion RMB** in subsidies for instant retail to enhance order density and user transaction frequency, particularly leveraging high-frequency food delivery to stimulate low-frequency instant retail and activate Taobao APP users [2][3][5] - The company is shifting from a passive to an active role in the instant retail sector through flash purchase scenarios to attract new users and re-engage old customers, indicating a strong focus on instant retail as a driver for traffic growth on its e-commerce platform [2][5] Financial Performance and Market Position - Alibaba's stock price has been under pressure primarily due to performance issues within Taotian Group, leading to the announcement of a **500 billion RMB** subsidy plan to improve order density and reduce average losses [3][5] - Despite short-term profit impacts from the subsidy war, the long-term strategic adjustments are expected to yield higher growth potential, particularly in the context of increasing transaction volumes on the Taobao APP [6][7] Cloud Computing and AI Development - Alibaba Cloud faces supply-side pressures and performance volatility, with revenue growth in Q2 2025 falling below market expectations. However, AI demand and cross-selling of AI agents are anticipated to be core growth drivers moving forward [3][4] - The company holds a leading position in the Asia-Pacific public cloud market, providing comprehensive solutions from computing power to applications, despite losing some market share over the past five years [4][8] - The AI industry is expected to bolster Alibaba Cloud's infrastructure supplier status, with its Qianwen model capabilities ranking globally [9][10] Competitive Landscape - In the instant retail battle, Meituan currently leads in order volume and market share, but Alibaba maintains density economics through its food delivery services, which enhances transaction frequency for low-frequency instant retail users [6][7] - The ongoing investment in instant retail is projected to increase transaction volumes and active user counts on the Taobao APP, reinforcing Alibaba's positioning as a super e-commerce APP [7][11] Future Outlook - The outlook for Alibaba's performance in the coming quarters includes catalysts from AI-related growth and stable performance in traditional e-commerce, despite potential pressures from the summer subsidy war [7] - The company anticipates that reaching a critical point in commercial monetization will significantly enhance its EBITA margin, providing substantial profit growth opportunities for investors [11]

7月8日，A股三大指数集体上涨。沪指收涨0.7%报3497点，深证成指涨1.46%，创业板指涨2.39%。 全天成交1.47万亿元，较前一交易日增量2476亿元，全市场近4300股上涨。 盘面上，光伏行业凝聚起"反内卷"共识，光伏设备板块爆发；PCB、消费电子板块走强，钙钛矿电池、虚拟机器人、游戏、多元金融及CRO等板 块涨幅居前。 另外，电力板块回调，银行股普跌，SPD概念、家用轻工等板块跌幅居前。 | 行业热力图 × | 领流板块 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 证券Ⅱ +1.15% | 电力 -0.47% | 炼化及贸易 +0.61% | 汽车零部件 +1.06% | 工业金属 +0.65% | 爆炭开采 +0.26% | | 化学制品 +1.23% | | 国有大型银行Ⅱ +0.19% | | | | | | 通信设备 | IT服务Ⅱ | 医疗器械 | 光伏设备 | | | | 股份制银行Ⅱ | | | 消费电子 +4.23% | +3.85% | +1.71% ...

Group 1: GaN Power Devices and Innovations - GaNext collaborates with Lenovo to launch a 245W GaN charger, significantly reducing size and weight while supporting high output for gaming laptops [1] - The charger utilizes GaNext's integrated Cascode GaN power devices, including specific models for PFC and LLC switching [1] - GaNext is a leading high-tech enterprise in GaN-on-Si devices, achieving mass production of GaN devices across the full power range [1] Group 2: Medical Device Innovations - True Health Company has two innovative Class III medical devices included in the Guangdong Province Innovation Medical Device Directory, enhancing clinical application prospects [2] - The TH-S system is the first domestic percutaneous puncture surgical robot to receive NMPA Class III registration, with a 100% success rate in over 4000 clinical applications [2] - The TH-XMW system is the first international percutaneous ablation surgical robot to gain NMPA Class III registration, integrating navigation and ablation treatment [2] Group 3: Autonomous Delivery Vehicles - SF Express and JD Logistics have launched autonomous delivery vehicles in Hengqin, marking a new phase in smart logistics [4] - The initial fleet of 9 delivery vehicles is undergoing testing, with operations expected to enhance efficiency by 2-3 times and reduce costs by approximately 23% [4] - The vehicles are designed to operate 24/7, improving service time and reducing labor intensity and traffic safety risks [4] Group 4: AI Training and Development - Lingyan Pavilion Chip Technology and Cas International Group are collaborating to establish an AI industry training base in Macau, focusing on professional AI skills training [5][6] - The partnership will involve co-developing training courses and sharing facilities to create a conducive learning environment for students [6] Group 5: Health and Wellness Industry Alliance - A strategic alliance named "Cultural Business Travel + Health" has been formed between United Life Group and Cas International Group to enhance healthcare and tourism integration [7] - The alliance aims to create a comprehensive service chain for health monitoring and intervention, promoting a "half-hour health living circle" in the Greater Bay Area [7] Group 6: Cultural and Tourism Initiatives - The "Starry Macau Plan" by Discover Macau Technology aims to enhance cultural tourism experiences through a series of themed performances [8] - The initiative focuses on cultural integration in the Greater Bay Area, featuring diverse performances and efficient resource sharing between venues [8] Group 7: Industrial Development Plans - The "Hengqin Guangdong-Macau Deep Cooperation Zone Industrial Development Plan (2025-2029)" outlines strategic directions for industrial growth and integration [9] - The plan emphasizes creating a modern industrial system with international competitiveness, focusing on health, vitality, digitalization, and wealth [9] Group 8: Unicorn Enterprise Policy - The Hengqin Cooperation Zone has initiated the 2024 unicorn enterprise recognition and subsidy application process, with specific criteria for different levels of unicorns [10] - Recognized enterprises can receive substantial financial rewards, promoting innovation and growth in the region [10]