Investment Rating - The industry investment rating is "Positive" and maintained [7] Core Viewpoints - The agreement on the "Technology Prosperity Agreement" between the UK and the US marks a new phase of cooperation in key emerging technologies, including AI and quantum technology, with over £31 billion committed by tech giants like Microsoft, NVIDIA, Google, and OpenAI to enhance AI infrastructure and quantum technology in the UK [2][4] - The agreement is expected to accelerate the development of quantum technology, suggesting a focus on the entire quantum technology supply chain, particularly leading companies in quantum computing and quantum communication [2][4] Summary by Relevant Sections Event Description - On September 16, the UK and the US reached an agreement on the "Technology Prosperity Agreement," indicating a generational cooperation in AI, quantum technology, and nuclear energy [4] Event Commentary - The agreement is anticipated to drive significant investment in quantum technology, with major companies like NVIDIA and Microsoft committing substantial resources to enhance the UK's AI and quantum computing capabilities [9] - The collaboration will elevate quantum technology to a national strategic level, emphasizing its importance in national security and economic prosperity [9] - The agreement is likely to lead to a multi-billion dollar investment in quantum technology, with specific commitments from major tech firms to develop advanced computing infrastructure [9]

Investment Rating - The investment rating for the computer industry is "Recommended" [2][20]. Core Insights - The AI industry continues to show high prosperity, with a confirmed turning point for industry recovery [3]. - Huawei has launched new supernode products, Atlas 950 SuperPoD and Atlas 960 SuperPoD, which significantly outperform competitors in key metrics [4][12]. - Alibaba's upcoming Cloud Summit is expected to focus on AI infrastructure and applications, with strong growth in AI-related revenues [18][19]. Summary by Sections Recent Developments - Huawei's new supernode products support 8192 and 15488 Ascend cards, respectively, and are set to meet the growing domestic demand for computing power [4][12]. - The Atlas 950 supernode is expected to launch in Q4 2026, with performance metrics significantly exceeding those of NVIDIA's upcoming products [14][17]. Financial Performance - Alibaba's cloud intelligence group reported a 26% year-on-year revenue growth, with AI-related products achieving triple-digit growth for eight consecutive quarters [18][19]. - Alibaba's capital expenditure reached 38.676 billion RMB, a 220% increase year-on-year, maintaining a target of 380 billion RMB for AI hardware infrastructure over the next three years [18][19]. Investment Recommendations - The report suggests focusing on AI infrastructure companies such as Zhongke Shuguang, Digital China, Inspur Information, and others, as well as Alibaba's partners [20]. - The shift in AI competition from single-card performance to system-level efficiency is highlighted, with a recommendation to monitor developments in AI infrastructure [20].

Core Viewpoint - Hengwei Technology's acquisition of 75% of Shuhang Technology marks the first case of a listed company in the A-share market planning to acquire an AI RaaS (Result as a Service) target, indicating a shift in AI industry competition from computing power to application implementation [2] Group 1: Acquisition Details - Hengwei Technology is planning to acquire 75% of Shuhang Technology, a leading enterprise-level AI solution provider, which has shown rapid growth in revenue and profit over the past three years [3][4] - Shuhang Technology's S-GPT AI engine integrates business strategies with localized deployment, enabling the application of large model technology in various industry scenarios [3][4] Group 2: AI RaaS Model - The AI RaaS model, which focuses on quantifiable business outcomes, is becoming a new trend in the industry, allowing companies to provide scenario-based AI solutions that help businesses achieve digital transformation [5][6] - Traditional AI services often fail to deliver clear business returns, leading to a cautious approach from enterprises; AI RaaS changes this by holding service providers accountable for business results [5][6] Group 3: Market Implications - The acquisition signals a growing interest among listed companies in AI RaaS due to its potential to directly drive performance growth, with AI RaaS capable of tapping into 20%-60% of core profit pools compared to just 1%-2% for traditional SaaS [6] - The shift in AI competition is moving towards application capabilities, with a focus on model efficiency and industry-specific needs, as seen in Shuhang Technology's ability to address diverse industry demands [7][9] Group 4: Strategic Importance - The acquisition is not just about business expansion; it aims to build a "computing power + application" ecosystem, leveraging Shuhang's industry experience to explore new markets while reducing client costs through deep integration of hardware and AI models [8][9] - Successful integration of resources, technology collaboration, and market development will be crucial for the success of this acquisition and the broader AI industry [9]

Core Viewpoint - The article discusses the potential for Amazon to become the first public company to reach a $5 trillion market capitalization, surpassing current leaders like Alphabet, Nvidia, Apple, and Microsoft. Group 1: Current Market Landscape - Only 11 companies globally have reached a nominal trillion-dollar valuation, including the "Magnificent Seven" and others like Broadcom and Saudi Aramco [2] - Alphabet recently became the fourth public company to exceed the $3 trillion mark, joining Nvidia, Apple, and Microsoft [4] Group 2: Competitors and Growth Potential - Palantir and Oracle are mentioned as popular AI stocks, but neither is seen as a strong candidate to reach a $5 trillion valuation due to high price-to-sales ratios and trust issues with investors [7][11][13] - Palantir has shown potential for sustained growth with a projected annual growth rate of 20% to 30%, but its price-to-sales ratio is unsustainable at 125 [9][12] - Oracle's future growth is promising, with a 359% increase in remaining performance obligations, but it has struggled to meet profit projections [10][13] Group 3: Amazon's Unique Position - Amazon is identified as the most logical candidate for a $5 trillion valuation, currently valued at $1.77 trillion, with a significant gap to close [15] - Amazon holds a 37.6% share of U.S. online retail sales, but its higher-margin ancillary operations are crucial for its profitability [16][17] - Amazon Web Services (AWS) is a key driver of growth, accounting for 32% of global cloud infrastructure spending and responsible for nearly 58% of Amazon's operating income [18][19] Group 4: Future Projections - Amazon's cash flow per share is projected to increase from $11.04 in 2024 to $24.32 by 2027, supporting the potential for a $5 trillion valuation at a 20X cash flow multiple [23]

PRESS RELEASE                                         Wolters Kluwer nominates Rose Lee and Hikmet Ersek for appointment to the Supervisory Board Alphen aan den Rijn – September 22, 2025 - Wolters Kluwer, a global leader in information solutions, software and services, today announces the nominations of Ms. Rose Lee and Mr. Hikmet Ersek for appointment to its Supervisory Board. The proposals will be submitted to an Extraordinary General Meeting (EGM) of Shareholders on November 3, 2025. Both candidates are ...

Core Points - Wolters Kluwer has nominated Ms. Rose Lee and Mr. Hikmet Ersek for appointment to its Supervisory Board, with proposals to be submitted at an Extraordinary General Meeting on November 3, 2025 [2][3] - Both candidates bring extensive managerial and board experience from complex industries, which will enhance the Supervisory Board's capability to support the company's strategic direction for long-term value creation [3][4] Candidate Background - Ms. Rose Lee is the former CEO and Board member of Cornerstone Building Brands, Inc., and has held leadership roles at DuPont, Saint Gobain, Booz Allen & Hamilton, and Pratt & Whitney [4] - Mr. Hikmet Ersek is the former CEO and Board member of The Western Union Company, with prior leadership positions at GE Capital, GE Corporation, and Mastercard [4] Company Overview - Wolters Kluwer reported annual revenues of €5.9 billion for 2024 and operates in over 180 countries, employing approximately 21,900 people [6] - The company is headquartered in Alphen aan den Rijn, the Netherlands, and is listed on Euronext Amsterdam, included in the AEX, Euro Stoxx 50, and Euronext 100 indices [7]

香港交易及結算所有限公司、香港聯合交易所有限公司與證券及期貨事務監察委員會對本 申請版本的內容概不負責，對其準確性或完整性亦不發表任何意見，並明確表示概不就因 本申請版本全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Shenzhen Xunce Technology Co., Ltd. 深圳迅策科技股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員 會（「證監會」）的要求而刊發，僅用作提供資料予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱 覽本文件，即代表 閣下知悉、接納並向本公司、其保薦人、整體協調人、顧問或包銷團 成員表示同意： 90718 \ (Project Fountain_Redacted) \ 22/09/2025 \ L01 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的。投資者不應 根據本文件中的資料作出任何投資決定； (b) 在聯交所網站登載本文件或其補充、修訂或更換附頁，並不引 ...

Group 1 - The core viewpoint of the article emphasizes three key changes that Tencent's ima AI will adapt to in the era of intelligent media [1] - The event took place at the Beijing Cultural Forum, focusing on the dual empowerment of culture and technology [1] - The discussion was led by Yao Yuan, a senior operations expert from Tencent ima AI, highlighting the importance of knowledge management in the evolving landscape [1]

Investment Rating - The report maintains a "Recommended" rating for the computer industry, indicating a positive outlook for the sector [5]. Core Insights - The computer industry is experiencing pressure on IT spending from government and enterprise clients due to macroeconomic factors, but a new growth trend driven by the AI technology revolution is emerging. The domestic computing power sector is showing significant turning points, and financial technology innovation is becoming an important industry trend [3][10]. - Key areas of focus include domestic AI computing demand, AI terminals and applications, beneficiaries of financial technology innovation, and high-growth segments within the industry [3][10]. Market Review - During the week of September 15-19, the CSI 300 index fell by 0.44%, while the small and medium-sized board index rose by 1.99%, and the ChiNext index increased by 2.34%. The computer sector (CITIC) saw a slight increase of 0.16% [19]. - The top five gainers in the sector were Information Development (+25.71%), Kaipu Cloud (+16.08%), Huijin Co. (+13.83%), Neusoft Group (+10.57%), and Suoling Co. (+9.07%). The top five decliners were *ST Dongtong (-65.05%), Zhongke Jincai (-10.53%), Anbotong (-9.87%), Feilixin (-9.36%), and Langxin Group (-9.01%) [19][24]. Company Dynamics - Guoneng Rixin plans to invest 42.53 million yuan to acquire a 25% stake in Tibet Dongrun Digital Energy Co., which has recently completed its business registration changes [15]. - Softcom Power has announced a share reduction plan by its controlling shareholder, intending to reduce holdings by up to 19.06 million shares, representing no more than 2% of the total share capital [16]. Weekly Insights - The report suggests focusing on companies with strong growth potential, including Cambrian, Haiguang Information, Inspur Information, and China Great Wall in the AI computing demand segment. In AI terminals and applications, companies like Kingsoft Office, Zhuoyi Information, and Keda Xunfei are highlighted. Beneficiaries of financial technology innovation include Zhongke Jincai, Jingbeifang, and Yuxin Technology [3][10].

Core Insights - SS&C Technologies Holdings, Inc. is recognized as a tech stock with one of the lowest P/E ratios and has extended its service agreement with The Private Office, a leading independent financial planning firm in the UK [1] Group 1: Service Agreement and Platform Support - The management of SS&C supports TPO's digital-first wealth management platform, which includes customer service, dealing, custody, settlement, and regulatory support [2] - TPO utilizes SS&C's Hubwise platform to assist over 50 advisors serving 2,900 clients with assets totaling $2.8 billion, facilitating services such as pensions management, investing, tax planning, and cash management [2] Group 2: Development of New Platform - As part of the agreement, SS&C will develop TPO Invest, an adviser platform that features a user-friendly digital interface and access to various investment products [3] - SS&C provides software and services that automate complex business processes specifically for the financial services and healthcare industries [3]