Group 1: New Listings - On July 14-20, one company listed on the Shanghai Stock Exchange main board, while no companies listed on the Shenzhen Stock Exchange [2] - China Huadian New Energy, focused on wind and solar power generation, saw its stock price rise over 125.79% on its first trading day, closing at 7.56 CNY per share, a 137.74% increase from the issue price of 3.18 CNY, with a total market capitalization of approximately 309.7 billion CNY [3] Group 2: Companies Passing Review - One company passed the review on the Shanghai Stock Exchange's Sci-Tech Innovation Board during the same period, while no companies passed on the Shenzhen Stock Exchange [4] - Shenzhen Beixin Life Technology Co., Ltd. specializes in innovative medical devices for cardiovascular disease diagnosis and treatment [5] Group 3: Terminated Listing Reviews - No companies terminated their listing reviews on the Shanghai Stock Exchange during this period, while one company on the Shenzhen Stock Exchange main board and one on the ChiNext did [7] - Guangdong Zhengyang Sensor Technology Co., Ltd. in the automotive manufacturing industry and Guizhou Duocai New Media Co., Ltd. in telecommunications both terminated their listing reviews [8] Group 4: Hong Kong Stock Exchange Activities - No new companies listed on the Hong Kong Stock Exchange during July 14-20 [9] - Three companies submitted applications for main board listings: Hunan Maijizhi Biotechnology Co., Ltd., Aux Electric Co., Ltd., and Shanghai Zhida Technology Development Co., Ltd. [12][13] - Hunan Maijizhi is a clinical-stage biopharmaceutical company focused on innovative biological agents for allergic and autoimmune diseases [14] - Aux Electric is one of the top five air conditioning providers globally, with a market share of 7.1% as of 2024 [16] - Shanghai Zhida Technology is the largest supplier of home electric vehicle charging solutions globally [19] Group 5: Financial Data and Fundraising - Hunan Maijizhi reported revenues of 8.72 million CNY and a net loss of 253 million CNY for 2023, with projections for 2024 showing a revenue of 2.4 million CNY and a net loss of 178 million CNY [14] - Aux Electric's revenues are projected to grow from 19.528 billion CNY in 2022 to 29.759 billion CNY in 2024, with net profits increasing from 1.442 billion CNY to 2.910 billion CNY [16] - Shanghai Zhida's revenues are expected to decline from 697 million CNY in 2022 to 593 million CNY in 2024, with net losses increasing from 25.147 million CNY to 236 million CNY [21]

智通财经7月21日电，威瑞森电信在收窄财年每股收益预测后，盘前股价涨超4%。威瑞森预计2025财年 调整后每股收益增长1.0% 至3.0%；调整后息税折旧摊销前利润增长2.5%至3.5%。 ...

Core Viewpoint - Verizon Communications has narrowed its fiscal year earnings per share forecast, leading to a pre-market stock price increase of over 4% [1] Financial Performance - Verizon expects adjusted earnings per share growth of 1.0% to 3.0% for the fiscal year 2025 [1] - The company anticipates adjusted EBITDA growth of 2.5% to 3.5% [1]

Group 1 - Chinese tech giants like ByteDance, Huawei, and Alibaba are increasingly playing significant roles in Dubai's growing tech industry as the UAE seeks economic diversification away from oil dependence [1][2] - Dubai Internet City serves as a tech hub attracting global giants such as Microsoft, Google, and Amazon, while also welcoming Chinese competitors [1] - ByteDance has established a substantial presence in Dubai, with hundreds of employees and a commitment to business expansion and recruitment [1][2] Group 2 - Huawei has set up a regional office in Dubai Internet City, aiming to establish Dubai as a center for telecommunications, cloud services, and consumer electronics in the Middle East [2] - Alibaba has opened a data center in Dubai and launched a training center for the Middle East and Africa, while its platform continues to supply a variety of Chinese goods to the region [2] - The automotive sector is witnessing a notable trend with Chinese brands like BYD, NIO, and Zeekr establishing showrooms alongside luxury brands, indicating a competitive market landscape [2][3] Group 3 - A report by Roland Berger highlights the high growth potential for Chinese automotive companies in the Middle East, comparing it to the boom of the Chinese automotive market in the early 21st century [3] - Xiaoma Zhixing, a Guangzhou-based company, has partnered with Dubai's Road Traffic Authority to launch a pilot for autonomous taxis, aiming for commercial operation of fully driverless vehicles [3]

Group 1: Guangdong Zhengyang Sensor Technology Co., Ltd. IPO - The IPO application for Guangdong Zhengyang was terminated due to the withdrawal of the application by both the issuer and the sponsor [1][3] - The company focuses on the research, production, and sales of various sensors and components related to SCR post-treatment systems, with a comprehensive product system [5][6] - The actual controllers of the company are Taiwanese nationals, holding 94.88% of the voting rights [7] - The company reported a net profit of 1.236 billion yuan in the first half of 2024, with a projected revenue of 2.009 billion to 2.456 billion yuan for the full year [8][9] - The company plans to raise 1.2 billion yuan through the IPO, with significant investments in technology upgrades and new energy product development [13] Group 2: Guizhou Duocai New Media Co., Ltd. IPO - Guizhou Duocai's IPO application was also terminated after the issuer and sponsor withdrew the application, despite having received approval in March 2023 [1][14] - The company operates IPTV integrated broadcasting services under the exclusive authorization of Guizhou Radio and Television Station, which is also its controlling shareholder [16][18] - The company reported a net profit of over 200 million yuan in 2022, with a steady increase in revenue over the years [19][21] - The company has a high customer concentration, primarily serving three major telecom operators, which poses potential risks [23][24] - The planned fundraising amount for the IPO is approximately 897.68 million yuan, aimed at enhancing research and development capabilities [25]

Market Overview - The S&P 500 index increased by 0.6% this week, while the Nasdaq rose by 1.5%[3] - Growth stocks outperformed value stocks, with Russell 1000 Growth up by 1.5% and Russell 1000 Value down by 0.2%[3] Sector Performance - The automotive and auto parts sector led gains with an increase of 4.3%, followed by semiconductors at 3.1% and software and services at 2.1%[3] - The energy sector experienced the largest decline, down by 3.8%, followed by healthcare equipment and services at -2.9%[3] Fund Flows - Estimated fund inflows for S&P 500 components were $4.55 billion this week, reversing last week's outflow of $0.57 billion[4] - Semiconductor products and equipment saw the highest inflow at $2.35 billion, while healthcare equipment and services faced an outflow of $1.37 billion[4] Earnings Forecast - The dynamic F12M EPS forecast for S&P 500 components was revised up by 0.6% this week, following a 0.3% increase last week[5] - The banking sector saw the most significant upward revision at +2.7%, while healthcare equipment and services were revised down by -1.0%[5] Risk Factors - Key risks include uncertainties in economic fundamentals, international political situations, U.S. fiscal policy, and Federal Reserve monetary policy[5]

Group 1 - The total telecommunications business volume in China increased by 9.3% year-on-year in the first half of the year, with total telecommunications revenue reaching 905.5 billion yuan [1] - Emerging businesses such as 5G new calls, live short videos, and cloud gaming have seen significant growth, with mobile internet traffic increasing by double digits for six consecutive months [1] - As of the end of June, China had built over 1.85 million "5G + industrial internet" projects, with 5G base stations totaling 4.55 million and 5G mobile phone users reaching 1.118 billion, resulting in a user penetration rate exceeding 79% [1] Group 2 - The electronic information manufacturing industry demonstrated strong resilience, with the added value of the computer, communication, and other electronic equipment manufacturing industries increasing by 11.1% year-on-year [2] - The software and information technology service industry has made solid progress in high-quality development, with software business revenue reaching 557.88 billion yuan in the first five months, a year-on-year increase of 11.2% [2] - Cloud computing and big data services generated revenue of 585.5 billion yuan, also reflecting a year-on-year growth of 11.2% [2]

Core Viewpoint - The industrial and information technology sectors in China are expected to see steady growth in key economic indicators by the first half of 2025, with significant advancements in manufacturing and digital technologies [1][13]. Industrial Growth - In the first half of 2025, the industrial added value above designated size increased by 6.4% year-on-year, demonstrating strong resilience following a good start in the first quarter [3][14]. - The manufacturing value added accounted for 25.7% of GDP, remaining stable [3][14]. - Manufacturing investment grew by 7.5% year-on-year, supported by major engineering projects under the 14th Five-Year Plan [14]. Equipment Manufacturing - The equipment manufacturing sector continued to show robust growth, contributing 35.5% to the total industrial added value [16]. - The added value of the equipment manufacturing industry increased by 10.2% year-on-year, driving a 3.4 percentage point increase in overall industrial growth [18]. - Key products in the equipment manufacturing sector saw significant production and sales increases, with shipbuilding metrics indicating a global market share of 51.7% for completed orders, 68.3% for new orders, and 64.9% for hand-held orders [20]. Digital Technology Development - Digital technologies, including 5G and AI, are rapidly advancing, with the digital industry achieving a business revenue growth of 9.3% year-on-year, an increase of 3.4 percentage points compared to the previous year [11][16]. - The number of mobile internet users has shown double-digit growth for six consecutive months, with 5G applications integrated into 86 out of 97 major categories of the national economy [45]. Green Transformation - The deep green transformation of traditional industries is a primary task for low-carbon industrial development, focusing on steel, non-ferrous metals, petrochemicals, and building materials [24]. - The goal is to increase the proportion of recycled materials in raw materials by 2027, targeting 22% for scrap steel, 30% for scrap copper, and 25% for scrap aluminum [26]. Financial Support for Manufacturing - The national financial cooperation platform has facilitated over 1.2 trillion yuan in financing for manufacturing enterprises, with an average of nearly 34 million yuan in support per company [37]. - The A-share market raised 148.8 billion yuan for industrial enterprises through various financial instruments, marking a year-on-year increase of 51.6% [41]. Telecommunications Sector - The telecommunications sector maintained stable operations, with a 9.3% year-on-year growth in total telecom business volume, reaching 905.5 billion yuan in revenue [40][44]. - By the end of June, the number of 5G base stations reached 4.55 million, with 5G mobile phone users totaling 1.118 billion, achieving a penetration rate of over 79% [44].

Economic Growth and Consumption - Consumption has contributed approximately 60% to economic growth during the "14th Five-Year Plan" period, highlighting its role as a main engine for growth [1][3] - The total retail sales of consumer goods in China is expected to exceed 50 trillion yuan this year, reflecting strong domestic consumption [2][3] Trade Performance - China's goods trade scale remains the largest globally, with export and import market shares stable at over 14% and 10% respectively [5][6] - The service trade scale ranks second globally, surpassing 1 trillion USD for the first time last year [6] Foreign Investment - China has completed its foreign investment target of 700 billion USD six months ahead of schedule, with actual foreign investment reaching 708.73 billion USD by mid-2023 [8][9] - The negative list for foreign investment access continues to shrink, with all restrictions in the manufacturing sector eliminated [9] Consumption Structure and Innovation - Service consumption has seen rapid growth, with an average annual increase of 9.6% from 2020 to 2024 [3][4] - New consumption models, such as "artificial intelligence + consumption" and "IP + consumption," are emerging as new growth points [3][4] International Trade Relations - The diversification of trade partners is evident, with ASEAN being China's largest trading partner for five consecutive years [7] - The proportion of trade with countries involved in the Belt and Road Initiative is expected to exceed 50% by 2024 [7]

Core Viewpoint - The FCC is proposing new rules to accelerate investment in submarine cable construction while ensuring protection against threats from foreign adversaries, particularly China [1][2] Group 1: Proposed Rules and Measures - The FCC plans to adopt measures to protect submarine cables from foreign adversaries, including presumptive denial of applications from foreign-controlled entities and restrictions on capacity leasing agreements [1] - The proposed rules will also prohibit the use of equipment from entities listed on the "Covered List" and establish requirements for network and entity security [1] - The FCC aims to streamline the licensing approval process to facilitate faster deployment of submarine cables [1] Group 2: Encouragement of Domestic Resources - The FCC is encouraging the use of U.S. submarine cable repair ships and the adoption of trusted technology for overseas operations [2] - A proposal is under consideration to exempt license applications that meet high-security standards from Team Telecom review, which was established to assess national security and law enforcement risks [2]