Pre-market report on A shares: Central Huijin increased its holdings in white liquor and chemical industry ETFs in the first half of the year. Institutions believe that the bottom features of the liquor industry are evident.

Pre-market news 1. The roadmap for high-quality development of Chinese cities was announced, with the goal of building a modernized people's city by 2035. Type: Industry Emotional impact: Positive The "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the High-Quality Development of Cities" were announced. The opinions proposed that by 2035, the modernized people's city will be basically built; developing industries such as first-mover economy, silver economy, ice and snow economy, low-altitude economy, cultivating new consumer scenes, accelerating the construction of a new model for real estate development, accelerating the construction and transformation of urban underground pipeline networks, and implementing urban ecological restoration projects in depth. 2. Central Huijin increased holdings of baijiu and chemical ETFs in the first half of the year, institutions say baijiu industry shows clear signs of bottoming out Type: Industry Emotional impact: Positive In the volatile market of the second quarter of this year, Central Huijin increased holdings of several industry ETFs against the trend, including purchasing 121 million shares of Penghua Liquor ETF. Pacific Securities believes that as the pressure on liquor companies' financial reports gradually eases and channel inventory continues to be disposed of, there are clear signs of industry bottoming out, waiting for a turning point. 3. Several banks announced a reduction in RMB deposit interest rates, with a decrease of 10 to 20 basis points Type: Macroeconomics Emotional impact: Neutral Recently, several small and medium-sized banks such as Bank of Jiangsu and Bank of Nanjing announced a reduction in RMB deposit interest rates, with a decrease of 10 to 20 basis points. Experts believe that looking at future development trends, deposit interest rates still face downward pressure. For residents, it is necessary to achieve better returns based on their investment experience, investment capabilities, and risk preferences. 4. Ministry of Commerce of China: Chinese trade negotiation representatives will meet with relevant American officials in the U.S. Type: Macroeconomics Emotional impact: Positive The Ministry of Commerce spokesperson introduced that Li Chenggang, the international trade negotiation representative and deputy minister of the Ministry of Commerce, will lead a team to visit Canada from the 24th to the 27th, co-chair the China-Canada Economic and Trade Joint Committee with the Canadian side, and then Li Chenggang and his team will visit the United States to meet with relevant American officials. China is willing to work together with the U.S. to continue playing a positive role in the China-U.S. economic and trade consultations. Investment Calendar 2025 Global Battery Recycling Summit Investment Tips Panic often makes everyone look weak and helpless. Similarly, rampant speculation makes everyone look so wise. Timothy Gaeta's "Stress Test" Institutional Views 1. Changjiang: Monetary and fiscal support policies may still be on the way, and with the slow recovery of fundamentals, the stock market is expected to rebound. 2. Huaan: The market has strong inertia and resilience, focusing on growth technology with the greatest elasticity and mainline supported by performance. 3. Orient: In the short term, there is still potential for stock index to rise, and "high and low switch" may be the main investment strategy in the recent market. Optimistic and Pessimistic Prospects 1. Director of the National Bureau of Statistics: A dozen industrial policies such as data property rights will be launched this year Type: Policy focus Minsheng Securities: Recently, heavyweight policies in the data element field continue to land, and industries enter a period of rapid development. As a national strategy, the important value released by public data operations and other links is of great significance to economic and social development as well as improving the asset structure of local governments. 2. Nvidia teams up with Google to lead investment! Controlled Nuclear Fusion Startup CFS receives $863 million in financing Type: Market hot discussion BOC International: With continuous technological breakthroughs, especially the large-scale application of high-temperature superconducting materials, commercialization of controlled nuclear fusion is gradually approaching, and the industrial chain may enter a period of rapid development. Superconducting magnets as the core components of magnetic confinement controllable nuclear fusion devices are expected to benefit fully. 3. Reports say new prices for photovoltaic glass in September are expected to increase, Flat Glass Group says it is discussing prices with customers Type: Market hot discussion Minsheng Securities: The continuous fermentation of "anti-internal enclosure", the reversal point of the bottom of the photovoltaic industry is approaching, prices in various links are beginning to rise, and profit recovery is imminent. The investment mainline recommends focusing on silicon material leaders on the left side of the cost curve, leading companies in the photovoltaic main chain, BC, and efficient TOPCon enterprises. Announcement Express Slightly positive announcements 1. Cambricon: Expected to achieve operating income of 5 to 7 billion yuan for the full year in 2025 2. CITIC Securities: Net profit for the first half of the year was 13.719 billion yuan, a year-on-year increase of 29.80% 3. Guolian Minsheng: Net profit for the first half of the year was 1.127 billion yuan, a year-on-year increase of 1185.19% Slightly negative announcements 1. Hua Hong Semiconductor: Net profit for the first half of the year was 74.3154 million yuan, a year-on-year decrease of 71.95% 2. Aojet Technology: Shareholder Alibaba Networks plans to reduce its shareholding in the company by no more than 3% 3. Ningbo TIP Rubber Technology: Net profit for the first half of the year was 11.298 million yuan, a year-on-year decrease of 16.08% Overseas Market The market believes that Nvidia's financial report further confirms the artificial intelligence boom, with all three major U.S. stock indices closing higher, with S&P and the Dow hitting new highs, and most of the seven tech giants closing higher; popular Chinese stocks were mixed, with Alibaba falling over 2%. This article is reprinted from "Tencent My Stock", GMTEight Editor: Xu Wenqiang.