Group 1 - Shenzhen aims to attract international talent by leveraging the Guangdong-Hong Kong-Macao Greater Bay Area to create a technology special zone and establish a talent list tailored to their needs [1] - The city has a total of 26,200 high-level talents and 220,000 returnees from studying abroad, with over 7 million various talents, and ranks first in China's 95 post-90s talent attraction for two consecutive years [1][2] - Shenzhen's R&D investment reached 223.66 billion yuan, with an 18.9% year-on-year growth, maintaining double-digit growth for nine consecutive years, and the R&D intensity is at 6.46% [2] Group 2 - Shenzhen is committed to innovation-driven development, focusing on strategic emerging industries such as artificial intelligence, low-altitude economy, biomanufacturing, quantum technology, and 6G [2] - The city plans to integrate resources from leading enterprises, universities, and government to form innovation alliances, enhancing the international technology innovation center in the Greater Bay Area [2][3] - Future plans include deepening cooperation with Hong Kong's Northern Metropolis to create a collaborative innovation pattern, leveraging national strategic platforms [3]

Group 1: Market Performance - As of February 28, 2025, the North Exchange 50 Index closed at 1306.98 points, reflecting a weekly decline of 2.85%[28] - The average PE ratio for North Exchange A-shares increased to 43.69X, while the PE ratios for the Sci-Tech Innovation Board and the ChiNext decreased to 54.52X and 37.77X, respectively[23] - The average daily trading volume for North Exchange A-shares reached 34.541 billion yuan, up 7.41% from the previous week[24] Group 2: Fund Performance - Multiple North Exchange theme funds reached new net asset value highs, with 12 funds achieving this milestone on February 27, 2025[14] - The average return for North Exchange theme funds in 2025 has reached 24.16%, significantly higher than the 2024 annual return of 14.52%[18] - The average returns for passive index funds related to North Exchange 50, Sci-Tech Innovation 50, CSI 300, and ChiNext were 28.01%, 12.64%, 1.13%, and 5.35%, respectively[20] Group 3: IPO and Valuation Insights - As of February 28, 2025, there were 122 companies on the North Exchange with a PE TTM exceeding 45X, accounting for 46.21% of the total[32] - The number of companies with a PE TTM in the range of 0-30X decreased by 6 compared to the previous peak in November 2024[32] - One company terminated its IPO registration, while another company has completed its registration as of February 28, 2025[4]