Pre-market report on A-shares: Chinese assets surge in the late night, Tencent ADR jumps more than 7%.

Pre-market News 1. S&P, Nasdaq hit new highs again! Tencent ADR surges over 7%, igniting enthusiasm in Chinese concept stocks trading Category: Market Sentiment Impact: Positive Overnight, the U.S. stock market S&P, Nasdaq hit new highs again, with the Dow just a step away from its historical high. Chinese concept stocks surged for a second consecutive day, with the Nasdaq Golden Dragon China Index closing up 2.08%. Tencent ADR, which released its financial report, surged 7.4%, while Alibaba rose by 3.63%, NetEase by 3%, and Baidu by 3.69%. 2. After a six-year hiatus, an insurance company makes a move on another insurance company! Ping An Insurance acquires a stake in China Pacific Insurance H shares, industry interpretation Category: Company Sentiment Impact: Positive Recently, Ping An Insurance increased its holdings in China Pacific Insurance H shares by approximately 1.74 million shares, with a total amount of approximately HK$55.839 million. Following the increase, Ping An Insurance's stake in China Pacific Insurance H shares accounted for about 5.04% of its total H share capital, meeting the acquisition conditions. Industry insiders suggest that Ping An Insurance's move on China Pacific Insurance is similar in logic to a bank's acquisition, primarily driven by financial considerations. 3. End of July, social financing scale grows by 9% YoY, M2 increases by 8.8% - Analyst interpretations Category: Macroeconomic Sentiment Impact: Positive Central bank data shows that by the end of July, social financing scale, broad money (M2), and RMB loans increased by 9%, 8.8%, and 6.9% respectively compared to the same period last year, continuing to outpace economic growth. Analysts indicate that, under multiple influencing factors, the pace of credit growth slowed in July, but with loan interest rates trending downward, reflecting ample credit supply, meeting the financing needs of the real economy effectively. 4. Two departments seek opinions: Assisted driving should not be equated to automatic driving! Unauthorized OTA upgrades not allowed Category: Industry Sentiment Impact: Neutral The State Administration for Market Regulation and the Ministry of Industry and Information Technology jointly issued a document stating that in the naming and marketing of combined driving assistance systems or functions, companies should not imply to consumers that they can be considered as automatic driving systems, with functionality that they do not actually possess, to prevent drivers from misusing them. Unauthorized OTA upgrade activities are not allowed, and untested software versions cannot be pushed to users. Investment Calendar State Council Information Office introduces the development of Digital China Investment Tips In the long history of speculation, there has not been a single success story without adhering to common sense. Buffett and Soros are examples of this. Those who try to see through the "truth" of the market at a glance, and attain the "Holy Grail" of trading, ultimately cannot escape the fate of failure and ruin. Book Recommendation: "Wide Awake" by Scott Patterson Institutional Views 1. CICC: This round of the market has the potential to be an "enhanced version of 2013", suggesting a focus on high prosperity and solid performance sectors. 2. Minsheng Securities: The future market may continue in two ways, either the slow-bull route of technology or transitioning from growth to cyclical value. 3. Orient: In the short term, the market continues to maintain a strong trend, from an investment perspective, tracking opportunities brought by industrial changes. Future Prospects of Positive and Negative Factors 1. Apple plans to make waves in the AI field, intending to launch new products such as Siasun Robot & Automation and security cameras Category: Market Hot Topic Huaxin Securities: With a strong revival momentum in its product line, combined with the continuous expansion of its service ecosystem, Apple is accelerating the consolidation of its leadership position in the global high-end intelligent hardware market. Pay attention to the synergistic effects of Apple's localization of its supply chain and AI technology innovation. 2. World Humanoid Siasun Robot & Automation Games to open on the 14th! Yushu, Tiangong, and others confirmed to participate Category: Market Hot Topic Soochow: As core models continue to iterate, training systems gradually improve, and application scenarios expand, the intelligent entity industry is expected to experience a substantial surge in capabilities and accelerated development period. It is recommended to focus on the industry chain of Intelligent Origin and Yushu. 3. Acceleration of Multi-Modal Medical Big Model Implementation, Expanding New Space for Innovative Drug Payment Models Category: Institutional Hot Review Founder: "Artificial Intelligence +" is driving revolutionary development in the medical industry, AI in medicine is entering a blossoming period, with high-end innovative equipment such as brain-machine interfaces and surgical robotics accelerating implementation and application expansion. It is estimated that by 2030, the market size of surgical robotics in China will exceed 700 billion. Announcement Dispatch Slightly Positive Announcements 1. Shanghai Gentech: Intends to acquire 62.2318% stake in Hanking Semiconductor for 1.12 billion yuan 2. Guizhou Yongji Printing: Planning to acquire controlling stake in Nanjing Tenafly Electronics Technology Co., Ltd., stock is halted 3. Guangdong Dongfang Precision Science & Technology: Net profit in the first half of the year increased by 143% year-on-year Slightly Negative Announcements 1. Shanghai Anlogic Infotech: State Integrated Circuit Industry Investment Fund plans to collectively reduce shareholding by no more than 3.25% 2. Biwin Storage Technology: State Integrated Circuit Fund Phase II plans to reduce shareholding by no more than 2% 3. Beijing YanDong MicroElectronic: State Integrated Circuit Fund holding ratio decreased to 6.99% Overseas Market Expectations of Fed rate cuts drive the continuation of the upward trend in the U.S. stock market, Nasdaq, S&P hitting new highs, with most large tech stocks falling; Tencent ADR surged over 7% sparking enthusiasm in Chinese concept stock trading, with the Chinese concept stock index rising by over 2%. This article is reprinted from "Tencent Stock Selection", GMTEight Editor: Xu Wenqiang.