Core Insights - JD.com is launching its "New Product Surprise Day" on October 23, featuring significant discounts on flagship products like iPhone and Huawei, with ample stock available for immediate purchase [1][3] - The event includes various promotional activities such as zero-yuan draws for new products, one-yuan grabs for popular items, and discounts up to 50% on best-selling products, creating a strong shopping experience [1][8] Product Highlights - The event showcases several highly anticipated tech products, including the iPhone Air, Honor Magic8 Pro, and Xiaomi REDMI K90 Pro Max, all available for immediate purchase [3] - Additional products include Huawei FreeClip 2 and ROG Xbox handheld, catering to digital product enthusiasts [5] - Fashion items like On Cloudmonster 2 shoes and North Face Summit series jackets are also featured, aligning with seasonal consumer needs [5] Promotional Activities - JD.com is offering various incentives such as "1 yuan draws for premium products" and "1 penny grabs for new brand trials," allowing consumers to access high-demand items at minimal costs [10] - The "JD Youth Sales" live streaming event will feature interactive elements, including product showcases and celebrity appearances, enhancing consumer engagement [11][13] Consumer Engagement - The live streaming will include themed segments like "Healing New Moments" and "Technology New Moments," utilizing advanced 3D technology for immersive product presentations [13][14] - Consumers can participate in real-time interactions during the live stream, with opportunities to win exclusive merchandise and discounts [14]

Core Insights - Douyin e-commerce is experiencing a surge in business during the Double 11 shopping festival, with various brands benefiting from the platform's upgraded promotional strategies and incentives [1] Fashion Industry Highlights - In the fashion sector, the top 10 outdoor sports brands achieved sales exceeding 100 million, with Camel, Fila, and Nike leading the pack [1] - The women's fashion category saw several brands surpassing 100 million in sales, with Yaya, Bosideng, and AP taking the top three spots [1] - Men's fashion brands such as Romon, Woodpecker, and Pierre Cardin also reported sales exceeding 100 million, ranking them as the top three in the trend men's fashion category [1] Jewelry and Luxury Goods - The consumption of jewelry and luxury goods continues to rise, with gold being a favorite among consumers; the top three jewelry brands are Lingfeng Gold, Houde Gold, and China Gold [1] - The luxury brand leaderboard is led by Ralph Lauren, ICICLE, and Hugo Boss [1] Fast-Moving Consumer Goods (FMCG) Highlights - There is a strong demand for stockpiling in the FMCG sector, with significant sales increases in beauty, food and health, household cleaning, personal care, pet products, alcoholic beverages, and parenting education brands [4] - Beauty remains a key category for stockpiling during Double 11, with Pechoin, Proya, and THE WHOO ranking as the top three beauty brands [4] - Health food brands are gaining traction, with Nutrend leading the food and health category [4] - Leading brands in household cleaning and personal care include Vinda and Feminine Care, respectively [4] - In the pet product category, emerging brand Jingu leads the rankings, while top alcoholic beverage brands like Moutai, Fenjiu, and Jianan Spring have also surpassed 100 million in sales [4] - The parenting education sector is strong, with brands like Dutch Lady taking the top spot [4] Durable Goods Highlights - Consumers are increasingly purchasing durable goods such as mobile phones, 3C digital products, small appliances, and home goods through Douyin Mall, leading to significant growth for various brands [6] - The top 10 mobile phone brands all exceeded 100 million in sales, with Apple, Huawei, and Xiaomi leading the new mobile phone category [6] - In the 3C digital product category, DJI, Lenovo, and ASUS ranked as the top three brands [6] - The small appliance category is led by Ecovacs, Youwang, and Roborock, while the home goods category features Xilinmen, ZhiHuaShi, and Linshi Home as the top three brands [6] Overall Market Trends - The Double 11 shopping festival on Douyin e-commerce is activating consumer purchasing power, leading to continuous business achievements for merchants [9] - The platform plans to support merchants through traffic assistance, exposure incentives, and logistics guarantees to capitalize on the promotional opportunities [9]

Market Overview - US stock market showed mixed results, with the Dow Jones reaching a new high driven by corporate earnings, while uncertainty in trade impacted tech and small-cap stocks, leading to a decline in the Nasdaq [1] - Apple experienced a three-day rise, hitting a new high before closing up 0.2%. General Motors surged 14.8% post-earnings, and Coca-Cola rose 4%. Meme stocks and Beyond Meat saw a dramatic increase of 146%, accumulating a 600% rise over three days [1] - The Nasdaq Golden Dragon China Index fell by 0.97%, with Daqo New Energy down over 4.4% and Alibaba down over 3.9% [1] Bond and Currency Markets - US Treasury yields fell, with the 10-year yield dropping nearly 2.5 basis points. The US dollar index rose for three consecutive days, increasing by approximately 0.4% [2] - Bitcoin saw a recovery, rising over 6% from its daily low [2] Commodity Markets - Gold prices dropped over 5.7%, marking the largest single-day decline since 2013, while silver experienced an even greater decline of nearly 8% [3] - Oil prices fluctuated upwards, with West Texas Intermediate crude oil rising over 1.2% due to the Trump administration's commitment to purchase 1 million barrels for the Strategic Petroleum Reserve [4] Industry Developments - The zinc market is experiencing a "short squeeze," with available inventory lasting less than a day and spot premiums reaching the highest level since 1997 [5] - Anthropic is in talks with Google for a cloud agreement potentially worth up to $10 billion [6] - The Federal Reserve will hold a "Payment Innovation Conference" on October 21 to discuss how innovative technologies are reshaping payment systems and currency forms in the digital age [7] Domestic Developments - Shanghai government issued a plan to promote high-quality development in the construction industry, encouraging business integration [9] - Guangdong government released an action plan for AI-enabled high-quality development in manufacturing from 2025 to 2027, supporting the establishment of "model vouchers" for industrial model services [9] - The Ministry of Industry and Information Technology is soliciting opinions on the "Computing Power Standard System Construction Guidelines (2025 Edition)" [10] - The world's first offshore wind direct-connected underwater data center demonstration project was completed in Shanghai Lingang [11] Company Announcements - Yingxin Development plans to acquire an 81.8091% stake in Guangdong Changxing Semiconductor Technology Co., Ltd. through cash payment [21] - Greebo secured a significant order from a leading US home improvement retailer for lithium battery outdoor power equipment, with an estimated order value of approximately $60 million [21] - Jindi Co., Ltd. signed a strategic cooperation framework agreement with Inbol to promote the application of electric drive system products [22] - Chengda Bio signed a strategic cooperation agreement with the Institute of Microbiology, focusing on emerging infectious diseases [22] - China Telecom reported a third-quarter net profit of 77.56 billion yuan, a year-on-year increase of 3.60% [22]

Market Overview - US stock market showed mixed results, with the Dow Jones reaching a new high driven by corporate earnings, while tech and small-cap stocks faced pressure due to trade uncertainties, leading to a decline in the Nasdaq [3] - Apple saw a three-day rise, hitting a new high before a slight retreat, closing up 0.2%. General Motors surged 14.8% post-earnings, and Coca-Cola rose 4%. Meme stock Beyond Meat skyrocketed 146%, accumulating a three-day gain of approximately 600% [3] - Gold and silver experienced significant declines, with gold dropping over 5.7%, marking its largest single-day drop since 2013, and silver falling nearly 8% [3] - Crude oil prices rose over 1.2% due to the Trump administration's commitment to purchase 1 million barrels of strategic oil reserves [3] Key Corporate Earnings - Pop Mart reported a Q3 revenue increase of 245%-250% year-on-year, with overseas revenue growing by 365%-370% [7] - Netflix's Q3 earnings fell short of expectations due to tax issues in Brazil, leading to a downward revision of its full-year guidance, with shares dropping 7% in after-hours trading [8] - L'Oréal's Q3 sales also missed expectations, with a notable recovery in high-end demand in China but disappointing performance in North America, causing a significant drop in stock price [9] - General Motors' Q3 adjusted EBIT was $3.4 billion, down 18% year-on-year but exceeding analyst expectations, leading to a pre-market stock increase of over 9% [31] Industry Insights - The zinc market is experiencing a "short squeeze," with available inventory dropping to less than one day's demand, causing spot premiums to soar to their highest levels since 1997 [18] - OpenAI launched the AI browser ChatGPT Atlas, prompting a decline in Google's stock [19] - Samsung reported positive progress in its 2nm chip yield, raising its year-end target from 50% to 70% [20] - The AI storage chip market is entering a strong upward cycle due to surging demand and supply constraints, with DRAM inventory dropping to below two weeks [30] Macro Trends - The US banking sector is facing challenges, with regional banks like Western Alliance Bancorp reporting a 27% year-on-year profit increase, alleviating some investor concerns [22] - The Japanese stock market reached new highs following the election of Fumio Kishida as the first female Prime Minister, although investors are cautious about the sustainability of this rally [26] - The digital currency landscape is evolving, with discussions around its strategic military functions in modern warfare [34]

Core Insights - The MicroLED concept sector saw a rise of 3.03%, ranking 8th among concept sectors, with 48 stocks increasing in value, including ShenKangJia A, which hit the daily limit, and notable gains from InnoLaser, Zhouming Technology, and Lianying Laser, which rose by 11.80%, 8.10%, and 8.08% respectively [1][2] Market Performance - The MicroLED sector experienced a net inflow of 631 million yuan, with 30 stocks receiving net inflows, and 6 stocks exceeding 50 million yuan in net inflow. ShenKangJia A led with a net inflow of 154 million yuan, followed by TCL Technology, Dahua Technology, and Dazhu Laser with net inflows of 124 million yuan, 122 million yuan, and 80.98 million yuan respectively [1][2] Fund Flow Ratios - The top stocks by net inflow ratio included ShenKangJia A at 44.80%, Zhaochi Shares at 15.95%, and TCL Technology at 12.71% [2][3] Stock Performance - Among the stocks, InnoLaser had the highest increase at 11.80%, while GQY Vision experienced the largest decline at 3.69% [1][4]

Market Overview - Global markets showed positive momentum with U.S. stocks rising across the board, driven by easing concerns over U.S.-China relations and regional bank risks, with the Dow Jones up 1.1% to 46,706.6 points[3][10] - European markets also experienced gains, with the Stoxx 600 index rising over 1%, led by defense stocks amid geopolitical tensions[10] Economic Indicators - China's September economic data revealed a divergence in production and demand, with investment growth continuing to decline, falling below market expectations[6] - The Chinese third-quarter GDP data was strong, contributing to a narrowing of investment-grade bond spreads by 1-3 basis points[5][30] Commodity and Currency Trends - International gold prices reached a record high, with New York gold up 3.5% to $4,336.4 per ounce, while copper prices approached historical highs[4][27] - The U.S. dollar index saw a slight increase of 0.2%, while the Japanese yen remained stable amid increased bets on a potential interest rate hike by the Bank of Japan[26][27] Stock Performance - In the Hong Kong market, the Hang Seng Index rebounded significantly, rising 2.42% to 25,858 points, with major tech stocks like Alibaba and NetEase gaining around 5%[12][17] - U.S. tech giant Apple reported a 14% increase in iPhone 17 sales compared to the previous model, boosting its stock price by 3.94%[10] Sector Insights - The consumer sector in China is expected to benefit from new policy measures aimed at expanding service consumption, which may help improve retail sales growth in the fourth quarter[6][19] - The battery manufacturer CATL reported a 41% year-on-year increase in net profit for Q3, indicating strong performance amid rising demand for new battery technologies[15]

Group 1 - Tmall's Double 11 event saw 80 brands surpass 100 million yuan in sales within the first hour, with Apple iPhone series sales exceeding last year's total for the entire day [3] - A total of 30,516 brands doubled their sales compared to last year, and 18,919 brands exceeded last year's first-day sales in the first hour [3] - Notable products like AirPods 4 and Apple Watch S11 also achieved over 10 million yuan in sales within the first hour [3] Group 2 - China's GDP grew by 5.2% year-on-year in the first three quarters, with a total GDP of 1,015,036 billion yuan [6] - The Ministry of Finance announced operations to support the liquidity of government bonds in the secondary market [7] - The Loan Prime Rate (LPR) remained unchanged for five consecutive months, with the one-year rate at 3.0% and the five-year rate at 3.5% [8] Group 3 - In September, China's new energy vehicle production and sales reached historical highs, with production at 1.617 million units and sales at 1.604 million units, marking year-on-year increases of 23.7% and 24.6% respectively [10] - The "Beijing Wind Energy Declaration 2.0" aims for China's annual new wind power installation capacity to reach no less than 120 million kilowatts by 2030 [11] Group 4 - The 22nd China International Agricultural Products Trade Fair concluded with on-site sales exceeding 100 million yuan and over 30,000 attendees [12] - Meituan announced the addition of two new members to its S-team, the highest management decision-making body [26] Group 5 - The A-share market saw 79 companies release their Q3 reports, with 66 reporting profits and 58 showing revenue growth [29] - Institutional investors net bought 16 stocks, with the top three being Innovation Medical, Sifangda, and Haitong Development [30][31]

Report Information - Release Date: October 21, 2025 [3] Market Trends International Futures - International precious metal futures generally closed higher, with COMEX gold futures up 3.82% at $4374.30 per ounce and COMEX silver futures up 2.59% at $51.40 per ounce. Factors include US government shutdown, Fed rate - cut expectations, EU energy policy shift, central bank gold - buying, and Sino - US trade friction [4]. - US crude oil futures' main contract fell 0.38% to $56.93 per barrel, and Brent crude oil futures' main contract dropped 0.57% to $60.94 per barrel. Rising global production, slowing economic growth, and reduced geopolitical risks pressured oil prices [4]. - Most London base metals rose. LME zinc, lead, copper, tin, and nickel increased, while LME aluminum declined. The Fed's signal of a possible slowdown in rate hikes and a weaker US dollar drove the price increase [4]. Domestic Futures - Domestic futures contracts showed mixed performance. Shanghai gold rose over 2%, and Shanghai silver rose over 1%. Some commodities like soybeans and pulp had small increases, while coking coal and soda ash dropped over 2%, and others like glass and coke fell over 1% [6]. Important Information Macroeconomic Information - The People's Bank of China kept the one - year and five - year loan prime rates (LPR) at 3% and 3.5% respectively [8]. - China's GDP in the first three quarters increased by 5.2% year - on - year, with an economic increment of 3967.9 billion yuan, 136.8 billion yuan more than the previous year [8]. - As of October 9, 2025, China's futures market capital exceeded 2 trillion yuan, reaching about 2.02 trillion yuan, a 24% increase from the end of 2024 [8]. - As of October 20, 2025, the Shanghai Export Containerized Freight Index (European route) was 1140.38 points, up 10.5% from the previous period [9]. Energy and Chemical Futures - The EU plans to gradually stop importing Russian oil and gas by January 1, 2028 [11]. - Zhengzhou Commodity Exchange plans to revise the urea futures business rules, adding large - granular urea as an alternative delivery product [13]. - Dalian Commodity Exchange will expand the scope of tradable products for qualified overseas investors, including linear low - density polyethylene, polyvinyl chloride, and polypropylene monthly average price futures, starting from the night session on October 28, 2025 [13]. - As of October 20, 2025, domestic soda ash manufacturers' total inventory was 1.7107 million tons, up 0.60% from the previous week [13]. Metal Futures - The global lithium demand is expected to grow at an average annual rate of about 20% to 4 million tons by 2030, driven by battery demand [15]. - Some polysilicon production bases in Southwest China will gradually reduce raw material input and stop production by the end of October - early November, with an affected capacity of about 320,000 tons per year [15]. - Global primary aluminum production in September 2025 was 6.08 million tons. China's estimated production was 3.644 million tons [15]. - China's tin concentrate imports in September 2025 were 8714 tons, down 15.13% month - on - month but up 10.68% year - on - year [16]. Black - Series Futures - From October 13 - 19, 2025, global iron ore shipments were 33.335 million tons, up 1.26 million tons from the previous week [19]. - In September 2025, China's crude steel production was 73.49 million tons, down 4.6% year - on - year; pig iron production was 66.05 million tons, down 2.4% year - on - year; and steel production was 124.21 million tons, up 5.1% year - on - year [19]. - The Ministry of Industry and Information Technology held a meeting on cement industry stability, emphasizing capacity replacement and standardization [19]. - From now until October 23, 2025, Tangshan's section steel mills will implement production control, with an expected开工率 of 33% and a daily output reduction of about 50,000 tons [20]. - HeSteel Group set the final price of silicomanganese in October at 5820 yuan per ton [21]. - Coal mines in Shuozhou's Shanyin County stopped production on October 20, 2025, with a total capacity of 34 million tons, and are expected to resume on October 24 [22]. Agricultural Futures - In the first three quarters, China's pig slaughter was 529.92 million heads, up 1.8% year - on - year, and pork production was 43.68 million tons, up 3.0% year - on - year [25]. - As of the week of October 17, domestic major soybean oil mills' soybean crushing volume was 2.17 million tons, and it is expected to rise to about 2.3 million tons this week [25]. - As of October 17, 2025, palm oil commercial inventory in key regions increased by 5.13% week - on - week, while soybean oil commercial inventory decreased by 3.25% week - on - week [25]. - Malaysia's palm oil exports from October 1 - 20 increased by 3.4% compared to the same period last month [26]. - China did not import soybeans from the US in September 2025 and is increasing purchases from South American countries [26]. - As of October 15, the national pig ex - factory price was 11.90 yuan per kilogram, down 6.08% from October 8 [26]. - As of last Thursday, Brazil's 2025/26 soybean sowing rate was 24%, and the sowing area of the first - crop corn in the central - southern region reached 51% of the planned area [26]. - As of October 20, the national imported soybean port inventory was 6.96254 million tons, up 314,570 tons from the previous week [28]. - US soybean export inspections in the week ending October 16, 2025, were 1.474354 million tons [28]. - As of October 18, Brazil's soybean sowing rate was 21.7% [29]. Financial Markets Financial - On Monday, A - shares oscillated with reduced trading volume. The Shanghai Composite Index rose 0.63%, the Shenzhen Component Index rose 0.98%, and the ChiNext Index rose 1.98%. Market turnover decreased to 1.75 trillion yuan [31]. - The Hong Kong Hang Seng Index rose 2.42%, the Hang Seng Tech Index rose 3%, and the Hang Seng China Enterprises Index rose 2.45%. Southbound funds had a net sell - off of HK$2.67 billion [31]. - There are rumors that the Shanghai and Shenzhen Stock Exchanges may select a CSI A500ETF as an option underlying asset [31]. Industry - The Ministry of Industry and Information Technology emphasized the implementation of the cement industry's stability plan, including no new capacity, standardizing existing capacity, and eliminating backward capacity [32]. - In the first three quarters, the land transfer fees of 300 cities' residential land increased by 12% year - on - year, but the transaction area decreased by 8%. In the third quarter, the land market cooled [32]. - Shanghai's eighth batch of centralized land auctions had a total transaction amount of 19.877 billion yuan, with a record - high floor price in the Xuhui Riverside area [32]. - The 2025 Beijing International Wind Energy Conference proposed to increase China's annual new wind power installation capacity during the 15th Five - Year Plan period and set long - term installation goals [32]. - As of the end of September, China's electric vehicle charging infrastructure reached 18.063 million units, a 54.5% year - on - year increase [33]. - In September, China's industrial raw coal production decreased by 1.8% year - on - year, while crude oil and natural gas production increased. Crude steel and pig iron production reached new lows since December 2023 [33]. Overseas - The US and Australia signed an agreement on rare earths and critical minerals, planning to invest over $3 billion in the next 6 months and build a gallium processing plant in Western Australia [35]. - Trump claimed that Modi promised to stop buying Russian oil, and threatened to impose "huge" tariffs if India does not fulfill the promise [35]. - The White House's economic advisor said the government shutdown may end this week, and stronger measures may be taken if not [35]. - Argentina's central bank signed a $20 - billion swap agreement with the US Treasury [36]. - The Bank of Korea's governor said the bank has not considered a currency swap with the US Treasury [37]. - The EU supports phasing out Russian natural gas imports by January 2028 [37]. - A hawkish member of the Bank of Japan warned of price - rising risks and said the central bank may raise the benchmark interest rate. The BOJ may slightly raise the 2025 fiscal year's economic growth forecast [37]. - Vietnam's government set a GDP growth target of at least 10% in 2026 and expects an 8% growth this year [38]. International Stock Markets - US stocks rose across the board, driven by Apple's record - high price, hopes of ending the government shutdown, and strong iPhone 17 sales [40]. - European stocks also closed higher, benefiting from better - than - expected Chinese economic data, expectations of Sino - US trade talks, improved corporate earnings, and reduced risk aversion [40]. - Japan's stock market rose strongly after the increased possibility of Takamichi Sanae becoming the prime minister. South Korea's stock market also reached a new high [40]. - Vietnam's stock market tumbled due to reports of corporate bond issuance irregularities in the banking and real - estate sectors [41]. Commodities - On October 9, 2025, China's futures market capital exceeded 2 trillion yuan [42]. - Linear low - density polyethylene, polyvinyl chloride, and polypropylene monthly average price futures will be listed on October 28, 2025, and are open to qualified overseas investors [44]. Bonds - A - share rebound and progress in Sino - US talks led to rising yields in the inter - bank bond market and falling bond futures prices in China. The central bank conducted 189 billion yuan of reverse repurchases and had a net withdrawal of 64.8 billion yuan [46]. - US Treasury yields fell across the board, driven by increased risk aversion and expectations of Fed rate cuts [46]. Foreign Exchange - The on - shore RMB against the US dollar closed at 7.1231 on Monday, up 34 basis points. The central parity rate was 7.0973, down 24 basis points [48]. - The CFETS RMB exchange - rate index and other RMB exchange - rate indices declined in the week of October 17 [48]. - The Reserve Bank of India is taking measures to promote the use of the rupee in trade settlements [48]. - The US dollar index rose 0.07% at the New York close. Most non - US currencies fell, while the Australian dollar and offshore RMB rose [48]. Upcoming Events - At 09:20, 91 billion yuan of reverse repurchases by the People's Bank of China will mature [50]. - At 12:20, Bank of Japan Deputy Governor Ryozo Himino will give a speech [50]. - At 15:00, European Central Bank Chief Economist Philip Lane and President Christine Lagarde will give speeches [50]. - At 21:00, the Federal Reserve will hold a payment innovation meeting, with Governor Christopher Waller giving the opening speech [50]. - At 21:30, European Central Bank Governing Council member Robert Holzmann will give a speech [50]. - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China is being held from October 20 - 23 [50]. - The APEC Finance Ministers' Meeting is being held until October 22 [50]. - Japan will hold a prime - minister nomination election [50]. - US President Trump will announce major tariff measures against Colombia [50]. - UK Chancellor of the Exchequer Rachel Reeves will hold a regional investment summit [50]. - Jushuitan will be officially listed on the Hong Kong Stock Exchange [50]. - China Telecom, Netflix, Coca - Cola, and General Motors will release their financial reports [50]. - At 03:30 the next day, Fed Governor Christopher Waller will give the closing speech at the Fed's payment innovation meeting [50]. - At 06:00 the next day, German Bundesbank President Joachim Nagel will give a speech [50].

Core Points - A total of 4 listed companies in A-shares have disclosed performance forecasts for the first three quarters of 2025, with 3 companies expecting profit increases, resulting in a 75.0% positive outlook [1] - Among the profit-increasing companies, 2 are expected to report net profits exceeding 100 million yuan, with China Shipbuilding, Yinlong Co., and Nairui Radar leading with expected net profits of 5.55 billion yuan, 261 million yuan, and 73 million yuan respectively [1] - As of October 21, 134 listed companies have disclosed performance forecasts for the first three quarters, with 88 companies expecting profit increases, 23 slight increases, and 119 companies in total reporting positive forecasts, accounting for 88.81% [1] Company Performance - 93 companies among those reporting positive forecasts expect net profits exceeding 100 million yuan, and 57 companies anticipate maximum profit growth exceeding 100% [1] - The companies reporting positive forecasts are primarily distributed across the metals, non-metals and mining, chemical, electronic equipment, and instruments and components industries, with 14, 13, and 11 companies respectively [1] Company Challenges - There are 11 companies forecasting profit decreases and 4 companies expecting losses, totaling 15 companies with negative forecasts [1] - Among the companies reporting negative forecasts, 1 is expected to incur a net loss exceeding 100 million yuan, and 8 companies anticipate maximum profit declines exceeding 50% [1] - The industries with companies reporting negative forecasts are mainly in chemicals, machinery, and communication equipment III, with 4, 2, and 2 companies respectively [1]

Group 1 - China's GDP grew by 5.2% year-on-year in the first three quarters of this year [2] - New home prices in Beijing increased month-on-month in September [2] - The Dalian Commodity Exchange is expanding the scope of qualified foreign investors to participate in commodity futures and options trading [2] Group 2 - The Hong Kong Securities and Futures Commission supports market-driven regulatory compliance for digital asset funds and tokenized funds [2] - The "Beijing Wind Energy Declaration 2.0" was released, setting a target to double installed capacity over the next five years [2] - Chow Tai Fook will implement its second price adjustment of the year, raising the price of "one-price" gold products by approximately 12% to 18% [2] Group 3 - Yushutech unveiled its latest robot, which stands 180 cm tall and weighs 70 kg [2] - The three major U.S. stock indices collectively rose, with the Nasdaq up 1.37% and Apple rising nearly 4% to reach a historic high [2] - The Nasdaq China Golden Dragon Index increased by 2.39% [2]