Core Viewpoint - The news reports that CaiXun Co., Ltd. (300634) has denied claims of establishing strategic partnerships with Moer Line and Suiyuan Technology for the domestic AI computing chip and server localization efforts [1] Group 1 - An investor inquired about the alleged strategic cooperation between CaiXun Co., Ltd. and key domestic AI computing chip companies [1] - CaiXun Co., Ltd. confirmed that the claims regarding partnerships with Moer Line and Suiyuan Technology are not true [1]

Group 1: Market Overview - The Hang Seng Index rose by 0.49%, gaining 119 points to close at 24,627 points, while the Hang Seng Tech Index increased by 0.93%. The morning trading volume in Hong Kong was HKD 126.5 billion [1] Group 2: Gold Stocks - Gold stocks experienced a collective rise due to weaker-than-expected U.S. non-farm payroll data, which led to a significant rebound in gold prices. Analysts suggest that interest rate cut expectations are supporting gold prices. Lingbao Gold (03330) rose by 4%, Chifeng Jilong Gold (06693) increased by 8.7%, and Shandong Gold (01787) saw an 8.8% rise. Laopu Gold (06181) rebounded by 5.5% after a profit warning, with Morgan Stanley predicting strong performance in the second half of the year [1] Group 3: Semiconductor Stocks - Semiconductor stocks led the gains, driven by regulatory concerns over H20 safety risks and the acceleration of domestic AI computing chip production. Hua Hong Semiconductor (01347) rose by 6.46%, Shanghai Fudan (01385) increased by 5.92%, and SMIC (00981) gained 2.8%. InnoCare Pharma (02577) surged over 12% following a partnership with NVIDIA to promote the large-scale implementation of 800 VDC power architecture in AI data centers [1] Group 4: Healthcare Sector - Zhaoke Ophthalmology-B (06622) rose over 7% after its drug Mephalan received orphan drug designation from the U.S. FDA [2] Group 5: Company Performance - Juxing Legend (06683) increased by 4% as the company launched a collaboration plan with numerous trendy artists and formed a strategic partnership with Yushu Technology. China Shipbuilding Defense (00317) rose by 4.3%, supported by verified profit releases from domestic shipbuilding companies and strong new ship order reserves at Huangpu Wenchong [3] - Xinyi Glass (00868) fell over 3% post-earnings due to a continuous decline in the average selling price of float glass products, resulting in a 59.6% year-on-year drop in mid-term net profit [4] - China Resources Medical (01515) dropped by 15.8% after issuing a profit warning, expecting a year-on-year decline of approximately 20% to 25% in mid-term profit attributable to shareholders [5]

Core Viewpoint - The recent security issues surrounding Nvidia's H20 computing chip highlight the ongoing tech rivalry between China and the U.S., which may impact domestic capital expenditures in the short term but could ultimately drive the development of a self-sufficient AI ecosystem in China [1]. Group 1: Stock Performance - Chip stocks have shown significant gains, with Huahong Semiconductor rising by 5.2% to HKD 41.5, Shanghai Fudan increasing by 3.94% to HKD 32.48, SMIC up by 3.1% to HKD 51.6, and China Electric Power Technology gaining 2.11% to HKD 1.45 [1]. Group 2: Regulatory Developments - The National Internet Information Office of China has summoned Nvidia to explain the security risks associated with the H20 chip sold to China, in accordance with the Cybersecurity Law, Data Security Law, and Personal Information Protection Law, with a deadline for submission of relevant materials set for July 31, 2025 [1]. Group 3: Industry Implications - Open Source Securities suggests that the incident reflects the broader U.S.-China tech competition, which may suppress short-term capital investments by domestic internet firms but could lead to a more stable and healthy development of China's AI industry in the long run [1]. - Huaxi Securities believes that the combination of the U.S. chip security legislation and the H20 incident may accelerate the domestic production of AI computing chips, such as Huawei's Ascend and Cambricon, clarifying the long-term growth trajectory for the industry [1].

Core Viewpoint - The recent security issues surrounding Nvidia's H20 computing chip highlight the ongoing technological competition between China and the United States, which may impact domestic capital expenditure in the short term but could ultimately drive the development of a self-sufficient AI industry in China [1] Group 1: Stock Performance - Semiconductor stocks have shown significant gains, with Huahong Semiconductor rising by 5.2% to HKD 41.5, Shanghai Fudan increasing by 3.94% to HKD 32.48, SMIC up by 3.1% to HKD 51.6, and China Electric Power Technology rising by 2.11% to HKD 1.45 [1] Group 2: Regulatory Actions - The National Internet Information Office of China has summoned Nvidia to explain the security risks associated with the H20 chip sold to China, in accordance with the Cybersecurity Law, Data Security Law, and Personal Information Protection Law, with a deadline for submission of relevant materials set for July 31, 2025 [1] Group 3: Industry Implications - Open Source Securities suggests that the incident reflects the broader context of Sino-U.S. technological competition, which may suppress domestic internet companies' capital expenditures in the short term but will push for a more stable and healthy development of China's AI industry in the long term [1] - Huaxi Securities believes that the combination of the U.S. chip security legislation and the H20 incident will accelerate the domestic production of AI computing chips, such as Huawei's Ascend and Cambricon, making the long-term growth trajectory more certain [1]

Core Viewpoint - The recent security issues surrounding Nvidia's H20 computing chip highlight the ongoing tech rivalry between China and the U.S., which may impact domestic capital expenditure in the short term but could lead to a more stable and self-sufficient AI industry in China in the long run [1]. Group 1: Stock Performance - Semiconductor stocks are experiencing significant gains, with Huahong Semiconductor up 5.2% to HKD 41.5, Shanghai Fudan up 3.94% to HKD 32.48, SMIC up 3.1% to HKD 51.6, and China Electric Power Technology up 2.11% to HKD 1.45 [1]. Group 2: Regulatory Actions - The National Internet Information Office of China has summoned Nvidia to explain the security risks associated with the H20 chip sold to China, in accordance with the Cybersecurity Law, Data Security Law, and Personal Information Protection Law, with a deadline for submission of relevant materials set for July 31, 2025 [1]. Group 3: Industry Implications - According to Open Source Securities, the incident reflects the broader context of U.S.-China tech competition, which may suppress domestic internet companies' capital expenditures in the short term but will ultimately drive the development of a self-controlled "technology-security-ecosystem" in China's AI industry [1]. - Huaxi Securities suggests that the U.S. chip security legislation and the H20 incident may accelerate the domestic production of AI computing chips, such as Huawei's Ascend and Cambricon, indicating a clearer long-term growth trajectory for these companies [1].