Core Insights - The company has a strong focus on data replication, disaster recovery, and data management, leveraging its proprietary software technology system [1] - The company collaborates with major domestic manufacturers like Huawei and Zhongke Longxin to develop integrated disaster recovery solutions and data protection solutions for critical industries [1] - The company's main business direction remains centered on software-based data replication and resilience solutions, with future evaluations on hardware collaboration based on market demand [1] Company Strategy - The core competitive advantage lies in the company's self-controllable software technology, which includes dynamic file replication, database replication, and continuous data protection (CDP) algorithms [1] - The development strategy emphasizes "software-defined, ecological collaboration," aiming to meet the needs for autonomy, security, and high reliability in sectors such as finance, government, and energy [1] - The company will assess the potential for enhancing overall solution performance and cost competitiveness in the hardware sector through ecological cooperation and joint research and development [1]

Group 1 - The "Great Beauty" Act, signed by Trump on July 4, 2023, will lead to further fiscal easing in the U.S., providing short-term support for economic growth but potentially causing secondary inflation risks and delaying Fed rate cuts, raising concerns about U.S. fiscal sustainability [1][10][12] - The final version of the "Great Beauty" Act has a larger deficit compared to the House version, with changes including the removal of Clause 899, an increase in the federal debt ceiling, and tightened conditions for Medicaid eligibility [1][10] - The Act is expected to have significant long-term effects across various industries, providing tax and subsidy advantages to traditional energy, manufacturing, real estate, military, and agriculture sectors while cutting benefits for clean energy, electric vehicles, healthcare, and food sectors [10][11] Group 2 - The Act will allow for the resumption of oil and gas leasing auctions on public lands and waters, and it maintains policies for real estate companies to fully deduct property improvement costs [11] - A budget of approximately $150 billion will be allocated over the next five years for large military projects, including shipbuilding and missile defense systems [11] - The semiconductor industry will see an increase in tax credits from 25% to 35% for new factories built in the U.S., with projects needing to commence by the end of 2026 [11] Group 3 - The "Great Beauty" Act represents a significant expansion of U.S. fiscal policy, which may require rate cuts to support this expansion amid high deficits and debt concerns [12][15] - The current fiscal expansion differs from previous cycles due to unexpected fiscal growth, changes in economic fundamentals, tariff uncertainties, and cracks in dollar credit [12][15] - The narrative around major asset classes is expected to fluctuate between "economic weakness," "data resilience," and "fiscal risk," impacting pricing for U.S. Treasuries, equities, the dollar, gold, and oil [15]