Columbia Threadneedle Investments, an investment management company, released its “Columbia Seligman Global Technology Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The US equities strongly rebounded in the second quarter following a turbulent first quarter. The fund’s Institutional Class shares returned 19.52% in the quarter, compared to a 23.18% return for the MSCI World Information Technology Index-Net. In addition, you can check the fund’s top 5 holdings for it ...

Core Viewpoint - Yitang Semiconductor Co., Ltd. has filed a lawsuit against Applied Materials for illegally obtaining and using its trade secrets, claiming damages of 99.99 million yuan [1][4]. Group 1: Legal Action - The lawsuit was filed in Beijing Intellectual Property Court, with a claim amount of 99.99 million yuan [1]. - Yitang Semiconductor alleges that Applied Materials has violated the Anti-Unfair Competition Law of the People's Republic of China by disclosing and claiming ownership of its trade secrets through a patent application [4]. - The company has made six requests in the lawsuit, including a demand for Applied Materials to cease using the trade secrets and to compensate for economic losses with punitive damages [4]. Group 2: Technology and Expertise - Yitang Semiconductor's key technology involves the use of high-concentration, stable, and uniform plasma for wafer surface treatment, which is critical for its semiconductor processing equipment [1]. - The two employees involved in the case had previously worked for Yitang's wholly-owned subsidiary, Mattson Technology, Inc., and had signed confidentiality agreements regarding the trade secrets [1][4]. - Evidence suggests that after being hired by Applied Materials, these employees submitted a patent application that disclosed Yitang's trade secrets [1]. Group 3: Company Position and Impact - Yitang Semiconductor emphasizes its commitment to original research and development and the importance of protecting intellectual property [4]. - The company asserts that the lawsuit is a legitimate measure to protect its rights and maintain fair market competition, stating it will not significantly impact its operations [4][5]. - The actual impact of the lawsuit on the company's profits cannot be determined until the court reaches a final judgment [5].

Group 1 - The core viewpoint of the news highlights the performance of Jingji Group, which saw a stock price increase of 16.22% on May 16, closing at HKD 0.129 per share, despite a year-to-date decline of 14.62% [1] - Jingji Group's total revenue for the year ending December 31, 2024, is projected to be CNY 527 million, reflecting a year-on-year growth of 7.09%, while the net profit attributable to shareholders is expected to be a loss of CNY 33.42 million, a decrease of 145.41% year-on-year [1] - The company's gross profit margin stands at 6.36%, with a debt-to-asset ratio of 34.95% [1] Group 2 - Jingji Group, established in 1988 in Singapore, specializes in contract manufacturing, particularly in producing equipment, machinery, subsystems, precision tools, and components for the semiconductor industry [2] - The company's products are primarily used as components in semiconductor processing equipment, either manufactured by original design manufacturers or procured by end-users [2] Group 3 - Currently, there are no institutional investment ratings for Jingji Group [1] - The average price-to-earnings (P/E) ratio for the industrial engineering sector is 14.62 times, with a median of 2.48 times, while Jingji Group's P/E ratio is -2.83 times, ranking it 161st in the industry [1]