Group 1 - US stock market indices, including Dow Jones, Nasdaq, S&P 500, and Russell 2000, reached both intraday and closing all-time highs, driven by the Federal Reserve's indication of an upcoming interest rate cut cycle, which boosted investor confidence and expectations for accelerated economic growth [1] - Major technology stocks showed mixed performance, with Nvidia rising by 3.49%, Google A up by 1%, and Meta increasing by 0.58%. In contrast, Amazon fell by 0.17%, Microsoft by 0.31%, Apple by 0.46%, and Tesla by 2.12%. Intel surged by 22.77%, marking its best single-day performance in nearly 38 years, following Nvidia's announcement of a $5 billion investment in Intel for joint development of PC and data center chips [1] - The cybersecurity sector saw positive movements, with NetSkope's US IPO first-day gain of 18.37% and CrowdStrike rising by 12.8%, as at least nine investment banks raised their target prices for the stock [1] Group 2 - The Nasdaq Golden Dragon China Index, which tracks Chinese stocks listed in the US, fell by 1.79%, with notable declines in companies such as NetEase (over 4%), Bilibili (over 3%), and others like Weibo, Li Auto, and Alibaba dropping over 2% [1] - The price of West Texas Intermediate (WTI) crude oil for October delivery decreased by $0.48, a drop of nearly 0.75%, closing at $63.57 per barrel [1] - Brent crude oil futures settled down by $0.51, also a decline of 0.75%, closing at $67.44 per barrel [2] - COMEX gold futures fell by 1.08%, trading at $3,677.60 per ounce, prior to the Federal Reserve's announcement of a 25 basis point rate cut [2]

Economic Overview - The U.S. stock market indices reached new highs, buoyed by the Federal Reserve's interest rate cut and Nvidia's investment in Intel, which sparked a rally in chip stocks [1] - The latest data from the U.S. Labor Department indicated a decrease in initial jobless claims, but the overall labor market is showing signs of cooling, with weakened demand and supply for labor [1] - The Federal Reserve cut the federal funds rate by 25 basis points and is expected to maintain a steady rate cut pace through 2025 to support the labor market [1] Market Dynamics - The Dow Jones increased by 124.10 points (0.27%) to close at 46,142.42, the Nasdaq rose by 209.40 points (0.94%) to 22,470.73, and the S&P 500 gained 31.61 points (0.48%) to 6,631.96 [3] - Among the 11 sectors of the S&P 500, 7 sectors saw gains, with the information technology sector up by 1.36% and the financial sector up by 0.6% [3] Company News - Nvidia's stock rose by 3.49%, while Intel surged by 22.77%, marking its best single-day performance in nearly 38 years after Nvidia announced a $5 billion investment in Intel for joint development of PC and data center chips [4] - Microsoft announced plans to invest over $7 billion to build the "world's strongest AI data center" in Wisconsin, with an initial investment of $3.3 billion for the first data center and an additional $4 billion for a second [7] - Google integrated its self-developed AI model, Gemini, into the Chrome browser, enhancing user experience by providing explanations of web pages and integrating with other Google services [7] Sector Performance - Small-cap stocks, represented by the Russell 2000 index, rose by 2.4%, reaching a record high, benefiting from a low-interest-rate environment [1] - The cybersecurity sector saw significant gains, with NetSkope's IPO rising by 18.37% and CrowdStrike increasing by 12.8% after multiple investment banks raised their target prices [4][5]

Core Viewpoint - Tianrongxin (002212) experienced a decline in stock price, closing at 9.9 yuan on September 18, 2025, with a drop of 2.27% and a trading volume of 980,600 shares, amounting to a transaction value of 990 million yuan [1]. Group 1: Company Performance - The stock price of Tianrongxin closed at 9.9 yuan, reflecting a decrease of 2.27% [1]. - The trading volume was 980,600 shares, with a total transaction value of 990 million yuan [1]. - The turnover rate was reported at 8.4% [1]. Group 2: Investor Inquiries - The company is involved in digital currency payment security and has participated in key infrastructure security projects for multiple financial industry clients, providing cybersecurity, data security, and intelligent cloud solutions [1]. - The company has not provided products or services to ByteDance as of the latest inquiry [1]. Group 3: Market Activity - On September 18, the main funds experienced a net outflow of 92.25 million yuan, indicating significant withdrawal by major investors [2]. - Retail investors showed a net inflow of 87.37 million yuan, while speculative funds had a net inflow of 4.879 million yuan [2].

周四，网络安全公司Netskope(NTSK.US)美国IPO首日开盘报23美元，现涨超27%，报24.27美元，总市 值近93亿美元。IPO价格为19美元。Netskope是一家基于云的网络安全公司，成立于2012年，开发有助 于企业保护应用程序、网站和数据的软件。 ...

智通财经APP获悉，周四，网络安全公司Netskope(NTSK.US)美国IPO首日开盘报23美元，现涨超27%， 报24.27美元，总市值近93亿美元。IPO价格为19美元。Netskope是一家基于云的网络安全公司，成立于 2012年，开发有助于企业保护应用程序、网站和数据的软件。 ...

Market Overview - The U.S. stock market opened higher on Thursday, with all three major indices showing gains [1] - As of the report, the Nasdaq Composite Index rose by 1.00%, reaching a new all-time high, while the Dow Jones increased by 0.34% and the S&P 500 climbed by 0.63% [2] Company Highlights - Nvidia shares increased by 2.7%, and Intel's stock surged over 27%, marking its largest intraday gain since October 1987, following news that Nvidia will acquire $5 billion worth of Intel shares [2] - CrowdStrike's stock rose over 10% to $491.49, marking its seventh consecutive day of gains. The company launched Threat AI, the first intelligent threat intelligence system in the industry, aimed at automating complex intelligence workflows. Several major firms raised their price targets for CrowdStrike, with Mizuho increasing it from $430 to $450, Jefferies from $500 to $515, D.A. Davidson from $490 to $515, and Needham from $475 to $535 [2] Cryptocurrency Sector - U.S. cryptocurrency stocks saw an initial rise, with Bullish surging over 10% after reporting its first quarterly profit since going public, exceeding expectations in both performance and guidance. BMNR rose over 10%, Circle increased by over 5%, and Robinhood gained over 3% [2]

Core Viewpoint - The U.S. stock market opened higher, with the Nasdaq Composite Index reaching a new historical high, while the Nasdaq China Golden Dragon Index experienced a decline [1] Group 1: U.S. Stock Market Performance - The Nasdaq Composite Index rose by 1.00%, setting a new historical high [1] - The Dow Jones Index increased by 0.34%, and the S&P 500 Index rose by 0.63% [1] - The Nasdaq China Golden Dragon Index saw a day-to-day decline of 2% [1] Group 2: Notable Company Performances - Nvidia's stock increased by 2.7%, and Intel's stock surged over 27%, marking the largest intraday gain since October 1987, following Nvidia's announcement to acquire $5 billion worth of Intel shares [1] - CrowdStrike's stock rose over 10%, reaching $491.49, marking its seventh consecutive day of gains, driven by the launch of Threat AI, the industry's first intelligent threat intelligence system [1] - Several major banks raised CrowdStrike's target price, with Mizuho increasing it from $430 to $450, Jefferies from $500 to $515, D.A. Davidson from $490 to $515, and Needham from $475 to $535 [1] Group 3: Cryptocurrency Sector Performance - Cryptocurrency-related stocks saw an initial rise, with Bullish surging over 10% after reporting a profitable quarterly result that exceeded expectations [2] - BMNR increased by over 10%, Circle rose by over 5%, and Robinhood gained over 3% [2]

Group 1 - The company Tianrongxin (002212) has not yet provided products and services to ByteDance as of September 18 [1] - The company offers network security products and solutions to its clients [1]

Core Viewpoint - The company is actively advancing research and implementation of post-quantum cryptography and privacy computing solutions, targeting key industries such as banking, insurance, and telecommunications [1] Group 1: Post-Quantum Cryptography - The company is continuously progressing in post-quantum cryptography algorithm research, migration, and industry application [1] - The company has obtained relevant patents for key technologies in post-quantum cryptography [1] - Multiple core products support post-quantum cryptography algorithms, facilitating their replacement and migration in critical business scenarios for clients in banking, insurance, telecommunications, and securities [1] Group 2: Privacy Computing - The company has launched the NetPEC privacy computing platform and secured related technical patents [1] - The platform enables collaborative computing, data fusion, and joint modeling among multiple institutions, enhancing the ability to extract and utilize the immense value of data elements [1] - The company addresses two major issues: data silos and data privacy protection, promoting data security integration and shared circulation in finance, insurance, and government sectors [1] Group 3: Cloud Native Security - The company does not currently offer cloud-native security products, but its existing security products support cloud-native environments [1]

Core Viewpoint - The company, Xinan Century, is actively involved in the digital currency sector, focusing on various cryptographic technologies that support both national and international standards, aligning with financial compliance requirements [1] Group 1: Technological Involvement - Xinan Century's key technologies in the digital RMB field include identity verification, data encryption, communication encryption, PKI/CA, key management, blockchain, and privacy computing [1] - The cryptographic technologies employed by the company are compatible with both national and international algorithms, ensuring they meet financial business applications and compliance standards [1] Group 2: Business Development - The company has been early in exploring and researching digital currency business solutions, which has positioned it well as the digital RMB initiative progresses [1] - Xinan Century has provided cryptographic security products and network security products to business center nodes, six primary issuing banks, and several secondary issuing banks [1]