Core Viewpoint - The "Tianfu Casting Network - 2025" emergency drill for network security assurance during the Chengdu Universiade was conducted, involving various provincial departments and telecom operators to enhance cybersecurity capabilities [1] Group 1: Event Overview - The drill was organized by multiple provincial authorities including the Provincial Internet Information Office, the Provincial Communication Administration, the Economic and Information Technology Department, and the Public Security Department [1] - Participants included local telecom operators, industrial internet companies, and cybersecurity institutions such as China Academy of Information and Communications Technology and Aisino Security [1] Group 2: Focus Areas - The exercise focused on typical scenarios related to network security for the Chengdu Universiade, addressing threats such as cross-province denial-of-service attacks, webpage tampering, data leakage, and industrial internet security [1] - Emphasis was placed on real-world scenarios, collaborative defense, and the use of AI agents to assist in attack and defense decision-making [1] Group 3: Outcomes and Future Actions - The drill served as a comprehensive review of the network security assurance efforts for the Chengdu Universiade, with participating units effectively responding to simulated emergencies [1] - Relevant departments will summarize experiences, optimize emergency plans, enhance capability building, and improve practical response abilities to complex network attacks [1]

英伟达发言人声明表示，“网络安全对我们至关重要。英伟达的芯片中不存在‘后门’，不会让任何人通过远程方式访问或控制芯片。” ...

Domestic News - The National Internet Information Office of China has interviewed NVIDIA regarding the security risks associated with the H20 computing chip, which has been reported to have serious vulnerabilities [2] - In the first half of 2025, the export volume of new energy commercial vehicles from China increased by 230% year-on-year, with an estimated total sales of around 450,000 units outside China this year [3] - The growth of charging infrastructure in China saw a 99.2% year-on-year increase in the first half of 2025, with a total of 3.282 million new charging points added [4] - Beijing's government has introduced measures to support multi-child families in obtaining small car licenses, enhancing transportation guarantees [5] International News - India expressed disappointment over the U.S. decision to impose a 25% tariff on Indian goods, stating it will take necessary measures to protect its national interests [6] Corporate News - Rolls-Royce reported a 50% increase in operating profit for the first half of the year, reaching £1.7 billion, and raised its full-year profit guidance to between £3.1 billion and £3.2 billion [7] - BMW's second-quarter sales fell by 8.2% year-on-year to €33.93 billion, with a pre-tax profit decline of 31% [8] - Renault appointed Francois Provost as the new CEO, effective July 31, 2025, succeeding the interim CEO Duncan Minto [10] - Nissan China and Dongfeng Group have entered a public consultation period for a new joint venture focused on vehicle and parts exports [11] - Liu Weidong, former deputy general manager of China Weaponry Equipment Group, was expelled from the party and public office due to serious violations [12] - BYD reported a total sales figure of 2,145,954 vehicles in the first half of 2025, with overseas sales of passenger cars and pickups reaching 470,086 units [13] - Leap Motor announced the production of its 10,000th unit of the B01 model, which was launched on July 24, 2025 [14] - Avita Technology plans to launch its first co-created product with Huawei in the second half of next year, with a total of 17 new products planned by 2030 [15] - Lantu Automotive has completed the acquisition of the Wuhan Yunfeng factory for 723 million yuan, which has a production capacity of 150,000 units per year [16]

1. Report Industry Investment Rating There is no information about the industry investment rating in the provided report. 2. Core Viewpoints of the Report - The report presents the latest price changes of various commodities, including chemical and agricultural products, and analyzes the market trends of different sectors such as agriculture, energy - chemical, industrial metals, and option finance [4][13][14]. - It also covers macro - economic news, including policy changes, international trade policies, and economic data, which have an impact on the commodity and financial markets [7][8][9]. 3. Summary by Relevant Catalogs 3.1 Chemical and Agricultural Product Price Changes - **Chemical Products**: On August 1, 2025, compared with July 31, 2025, prices of some chemical products like coking coal increased (9.326% increase), while others such as natural rubber decreased (-0.172% decrease) [4]. - **Agricultural Products**: For agricultural products, the price of yellow soybean No.1 increased by 0.048%, and the price of rapeseed meal decreased by 0.815% [4]. 3.2 Macro - Economic News - **Regulatory and Policy News**: The National Cyberspace Administration of China interviewed NVIDIA regarding the security risks of its H20 computing chips. New regulations such as the "Stablecoin Ordinance" in Hong Kong came into effect on August 1, 2025 [7][8]. - **International Trade News**: The US will resume collecting so - called "reciprocal tariffs" on August 1, 2025, and is still in negotiation with multiple economies [8]. - **Economic Data**: The core PCE price index in the US rose 2.8% year - on - year in June, higher than the expected 2.7%. In 2024, China's "Three New" economic added value was 24.29 trillion yuan, with a year - on - year increase of 6.7% [8][9]. 3.3 Main Commodity Market Analysis 3.3.1 Agricultural Products - **Peanuts**: The peanut market is in a pattern of weak supply and demand, with prices expected to be in a narrow - range shock. It may be strongly shocked in the short - term but will not change the downward trend [13]. - **Oils and Fats**: The oils and fats market lacks driving forces and is expected to be weakly shocked [13]. - **Sugar**: The domestic sugar price is supported by low inventory, but attention should be paid to the supply pressure brought by the concentrated arrival of processed sugar in August. The international raw sugar lacks directional driving forces [13]. - **Corn**: The price of corn has broken through the lower edge of the previous shock range. It is recommended to short at high prices in the short - term, but beware of the rebound risk caused by policy support and weather speculation [13]. - **Pigs**: The pig market is in a situation of supply exceeding demand, and the price is expected to be in a range - bound shock [15]. - **Eggs**: After the price correction, the possibility of a sharp decline in egg prices is not high. For the 08 contract in the delivery month, it is recommended to avoid long positions and try short positions [15]. - **Cotton**: The cotton price has fallen recently due to the lack of fundamental support and capital promotion, as well as the cautious market sentiment. It is recommended to observe the support level at 13,350 yuan/ton in the short - term [15]. 3.3.2 Energy and Chemical Products - **Urea**: The supply of urea is in a state of phased reduction, and the demand is mixed. The futures price may continue to be weakly shocked in the short - term, but there is an improvement expectation for autumn fertilizers and export demand [15]. - **Caustic Soda**: The caustic soda has strong support below. It is recommended to pay attention to the 9 - 11 reverse spread [17]. - **Coking Coal and Coke**: The coking coal and coke are under short - term pressure and are running weakly [17]. 3.3.3 Industrial Metals - **Copper and Aluminum**: The copper price is under pressure due to the US tariff policy and the Fed's interest - rate decision. The aluminum price is expected to continue the high - level adjustment due to factors such as supply increase and consumption off - season [17]. - **Alumina**: The alumina market is in an oversupply pattern, but the spot price is relatively firm. Pay attention to the impact of macro - sentiment [17]. - **Steel Products**: The steel market is affected by factors such as macro - sentiment cooling and raw material price decline, and the price is expected to continue the weak trend in the short - term [19]. - **Ferroalloys**: The ferroalloy market is mainly affected by macro - expectations. It is recommended to operate with a shock - range mentality [19]. - **Lithium Carbonate**: The lithium carbonate market is in a pattern of strong supply and weak demand. It is recommended to hold short positions but beware of the support at 67,000 yuan/ton [19]. 3.3.4 Option Finance - **Options**: On July 31, the A - share market declined, and the volatility of options increased. Trend investors can pay attention to the strength - weakness arbitrage opportunities between varieties, and volatility investors can buy straddles to bet on increased volatility [20].

7月29日，江苏省淮安市洪泽区委网信办联合区公安分局 走进洪泽城南实验小学暑托班开展"e起护网·共筑网络安 全防线"主题活动。民警通过互动问答、发放《未成年人 网络安全知识》手册、观看网络安全视频等方式，向学生 们讲解网络安全知识，倡导学生提高网络安全意识，加强 个人信息保护，度过一个快乐安全的暑假。图为学生在阅 读《未成年人网络安全知识》手册。 殷 潮摄（人民图片） 7月30日，小朋友在湖南省科学技术馆体验科普设备，感 受科技魅力，丰富暑期生活。 林道辉摄（人民图片） (责编：郝孟佳、李昉) ...

Group 1 - The State Intellectual Property Office of China granted a patent to multiple companies under the name "Code Processing, Business Response Method and Device, Computer Equipment, Storage Medium" with the announcement number CN113986224B, applied for on November 2021 [1] - Hubei Tianrongxin Network Security Technology Co., Ltd. was established in 2000 in Wuhan, focusing on software and information technology services, with a registered capital of 30 million RMB [1] - Beijing Tianrongxin Network Security Technology Co., Ltd. was founded in 1995 in Beijing, also focusing on software and information technology services, with a registered capital of 350 million RMB [1] Group 2 - Beijing Tianrongxin Technology Co., Ltd. was established in 2003 in Beijing, primarily engaged in technology promotion and application services, with a registered capital of approximately 75.76 million RMB [2] - Beijing Tianrongxin Software Co., Ltd. was founded in 2012 in Beijing, focusing on software and information technology services, with a registered capital of 50 million RMB [2] - The companies have participated in numerous bidding projects, with Beijing Tianrongxin Network Security Technology Co., Ltd. involved in 5000 projects and Hubei Tianrongxin Network Security Technology Co., Ltd. in 19 projects [1][2]

Group 1: Global Service Trade Overview - In Q1 2025, global service trade growth slowed to 5% year-on-year, approximately half of the growth rates in 2024 and 2023 [1] - The slowdown is attributed to the appreciation of the US dollar against the euro and other currencies, along with increased economic uncertainty [1] - Service exports from Europe and North America grew by only 3% year-on-year, down from 8% and 11% in Q1 2024, while Asia maintained a strong growth rate of 9% [1] Group 2: Key Sectors Impacting Service Trade - The primary reason for the overall slowdown in service trade is the "other business services" category, which includes a variety of services delivered mainly in a digital format [3] - In Q1 2025, exports of "other business services" from the US grew by 4%, down from 8% in the same period of 2024, while EU exports remained flat in USD terms but grew by 4% in euro terms [3] - Financial services exports grew by only 3% year-on-year, reflecting reduced investment activity due to global economic uncertainty, with EU and US exports growing by 2% and Swiss exports declining by 3% [3] Group 3: Construction and Travel Services - Global construction exports fell by 15% in Q1 2025, partially offsetting a strong 25% growth in the same period of 2024, indicating weakness in major economies like China, South Korea, and the EU [4] - Despite economic challenges, international travel grew by 5% year-on-year in Q1 2025, with Asia seeing a 13% increase in travel revenue, led by significant growth in China (96%) and other countries [5] Group 4: Regional Performance - In the first five months of 2025, Asian economies showed double-digit growth in service trade exports, with China growing by 13%, India by 12%, and Japan by 11% [6] - In North America, the US service exports grew by 5%, while Canada experienced a decline of 6% [7] - The EU saw a 3% increase in service exports to non-member countries, with the UK showing significant growth in both exports (9%) and imports (13%) [7]

Core Viewpoint - NVIDIA has responded to serious security concerns regarding its computing chips, asserting that there are no "backdoors" allowing remote access or control of these chips [1]. Group 1 - NVIDIA emphasizes the importance of cybersecurity and denies the existence of vulnerabilities in its chips [1]. - Recent reports indicated that U.S. lawmakers are calling for advanced chips exported from the U.S. to include "tracking" capabilities [1]. - Experts in the U.S. artificial intelligence sector have stated that NVIDIA's technology for "tracking" and "remote shutdown" is already mature [1].

当前，全球地缘政治和国际贸易格局正面临重大变化。中国—东盟自贸区3.0版谈判的全面完成，彰显 双方正以实际行动支持自由贸易和多边主义。正如新加坡总理黄循财所说，升级自由贸易协定是一个重 要举措，特别是在全球保护主义日益抬头的背景下，这一举措将向全世界发出一个明确且重要的信号， 那就是自由贸易和互惠的市场合作至关重要。 从内容上看，中国—东盟自贸区3.0版包含数字经济、绿色经济、供应链互联互通、海关程序与贸易便 利化等9个新增章节，将为双方在新形势下加强合作、促进产供链深度融合注入新动能。3.0版通过促进 双方产品、服务、投资等要素自由流通，有助于打造更具韧性的区域产业链网络，尤其是在绿色经济和 数字经济等新兴领域，为双方企业创造更加稳定和可预期的营商环境。在数字经济领域，3.0版致力于 促进无纸化贸易、电子发票、数字身份、电子支付等，有助于双方企业拓展在人工智能、网络安全和金 融科技等领域的合作空间。通过优化海关程序与贸易便利化，3.0版将进一步加强海关规则标准合作， 有助于推进区域"软联通"。 中国—东盟自贸区覆盖人口超过20亿，占全球人口的1/4。双方经济总量超过全球的1/5，是当前世界经 济复苏的重要引 ...

Core Viewpoint - Recent reports indicate serious security issues with Nvidia's computing chips, prompting U.S. lawmakers to call for advanced chips exported from the U.S. to include "tracking" features [2] Group 1 - Nvidia's computing chips have been found to have vulnerabilities related to security backdoors, raising concerns about network and data safety for Chinese users [2] - U.S. AI experts have revealed that Nvidia's "tracking" and "remote shutdown" technologies are already mature [2] - The National Internet Information Office of China has requested Nvidia to explain the security risks associated with the H20 computing chip sold to China and to submit relevant proof materials by July 31, 2025 [2]