Macro News - The Central Committee of the Communist Party of China issued an opinion on strengthening financial trial work, emphasizing the need to punish financial crimes such as market manipulation and insider trading, and to improve rules for handling disputes in emerging financial fields like digital currency and internet finance [5][6] - The People's Bank of China announced a 14,000 billion yuan reverse repurchase operation to maintain reasonable liquidity in the banking system, with 8,000 billion yuan for 3-month and 6,000 billion yuan for 6-month terms [2][5] - China's foreign trade report for the first half of 2025 showed a total import and export value of 21.79 trillion yuan, a year-on-year increase of 2.9%, with exports reaching 13 trillion yuan, marking a 7.2% growth [6] Market Trends - The broad money supply (M2) in China reached 330.29 trillion yuan at the end of June, growing by 8.3% year-on-year, while the narrow money supply (M1) increased by 4.6% [9] - In the first half of the year, new loans in renminbi increased by 12.92 trillion yuan, with household loans rising by 1.17 trillion yuan and corporate loans increasing by 11.57 trillion yuan [9] Company Dynamics - NIO's sub-brand, Lido, launched the Lido L90 SUV with a starting price of 279,900 yuan, which is expected to lead in the high-end SUV market [15] - Huahong Technology anticipates a net profit of 70 to 85 million yuan for the first half of 2025, representing a year-on-year growth of over 3,000% [11] - State Grid Corporation of China reported that Chongqing's power grid consumed 3.179 billion kWh of renewable energy in the first half of the year, a year-on-year increase of 34.25% [7] - CATL and BYD signed memorandums of understanding with BHP to collaborate on electric mining equipment and battery systems [17]