GuShiio.com ① China International Capital Corporation and China Galaxy responded to merger rumors ②DeepSeek lowered the API call price, with a drop of up to 75% during off-peak periods ③ Global Market ④ China Securities Data Company took the lead in disclosing the daily data of the two companies, with a total of 18 data items in four categories ③ Goer Shares: The controlling shareholder plans to increase its stake in the company by 500 million yuan to 1 billion yuan.
There are no new shares listed today and no new shares are subscribed for.
macro news
1. From February 25 to 26, the 2025 Taiwan Work Conference was held in Beijing. Wang Huning said that we must adhere to the one China principle and the “1992 Consensus,” unite the broad masses of Taiwan compatriots, firmly support the patriotic unified forces on the island, resolutely crack down on provocative acts of “Taiwan independence”, and shape the general trend of inevitable reunification of the motherland. It is necessary to promote cross-Strait exchanges and cooperation, expand cross-Strait personnel exchanges, support the development of Taiwanese businessmen and enterprises in the mainland, deepen cross-Strait integrated development, and allow Taiwan compatriots to share the opportunities and achievements of China’s modernization development.
2. The Institute of Finance of China Academy of Social Sciences held a press conference on the fourth quarter report of “China Macrofinancial Analysis” in 2024. The report pointed out that Trump 2.0 ‘s series of policy measures will negatively affect China’s economic growth, reduce capital inflows, and bring short-term depreciation pressure on the RMB exchange rate. Zhang Peng, a postdoctoral fellow at the Institute of Finance of China Academy of Social Sciences, believes that after Trump issued a 10% tariff on China, there have been no significant changes in the China market. This shows that China has long expected Trump’s tariff policy. China’s economy is expected to stabilize and recover in 2025. The RMB exchange rate has no probability of long-term depreciation, and the probability of falling below 7.5 is low.
3. At the regular press conference of the Ministry of Foreign Affairs yesterday, some media asked that the Trump administration had recently unfrozen US$5.3 billion in “foreign aid funds”, including US$870 million in military aid to Taiwan. In response, Foreign Ministry Spokesperson Lin Jian said that China urges the United States to stop arming Taiwan and stop undermining peace and stability across the Taiwan Strait. China will pay close attention to the development of the situation and firmly defend national sovereignty, security and territorial integrity.
4. Foreign Ministry Spokesperson Lin Jian held a regular press conference yesterday. A reporter asked questions about the US tariff increase. Lin Jian said that China firmly opposes the unilateral imposition of tariffs by the United States, and both sides should resolve their respective concerns through equal and mutual respect dialogue and consultation. China will continue to take necessary measures to firmly safeguard its legitimate rights and interests.
5. The State Administration of Financial Supervision and the National Development and Reform Commission held a pilot symposium on equity investment in financial asset investment companies. The meeting proposed that the State Administration of Financial Supervision will strengthen coordination and cooperation with the National Development and Reform Commission, promote the optimization of the equity investment environment, and mobilize more funds and resources to support the pilot.
industry news
1. The State Financial Supervision and Administration issued a notice on matters related to Hong Kong and Macao financial institutions ‘participation in insurance companies. In October 2024, the mainland signed agreements with Hong Kong and Macao respectively, which adjusted the qualification requirements for Hong Kong and Macao financial institutions to invest in domestic insurance companies. Starting from March 1, 2025, financial institutions in Hong Kong and Macao will no longer implement the rule of “total assets at the end of the most recent year shall not be less than US$2 billion.”
2. China Securities Financial Bureau no longer discloses the data of the two financial markets, which has attracted market attention. A reporter from the Financial Union learned that the daily data of the two financial markets is now disclosed by the official website of China Securities Data Co., Ltd., and historical data is also simultaneously migrated to the same sector. According to the official website of China Securities Data, the scope of its disclosure statistics covers a total of 18 specific indicators in four categories: “margin margin trading balance, margin trading, securities company business and collateral”. The disclosure information is more detailed and comprehensive.
3. DeepSeek announced yesterday that starting from now on, DeepSeek will launch peak-shifting special activities on its open platform during the night idle hours from 00:30 to 08:30 Beijing time every day. During this period, the price of API calls has been significantly reduced: DeepSeek-V3 has dropped to 50% of the original price, and DeepSeek-R1 has dropped to 25%.
4. It is reported that Yu Donglai, founder of Pangdonglai, Yu Minhong, founder of New Oriental, and Zhang Wenzhong, founder of Wumart Group, appeared in Pangdonglai Angel City, Xuchang on the evening of the 25th to inspect the business format. Yu Minhong said that in the future, Dongfang Selection and Pangdonglai may cooperate, and the quality of Dongfang Selection’s products must be matched by Pangdonglai.
5. With the popularity of DeepSeek, many tens of billions of quantitative private placements have also joined the AI battle. Quantitative giant Kuande recently released a talent recruitment notice for the intelligent learning laboratory, claiming that the laboratory “will set sail towards the entire sea of stars of artificial intelligence.” Kuande said that the laboratory will be committed to realizing super technology assistants, gathering top AI talents, and focusing on the development of universal super assistants.
6. According to the information released by “Fuyang Release” yesterday afternoon, on November 13, 2023, the Fuyang District Government issued the “Relevant Policies on” Improving Confidence, Expanding Consumption, and Promoting Development “in Fuyang District, Hangzhou City. According to relevant regulations, the processing of real estate support policy (transportation subsidy) subsidies in Fuyang District will be accepted from March 1, 2025. The content of this subsidy is that the minibuses under the name of the buyer and his spouse will enjoy the transportation subsidy policy within 5 years after acceptance in accordance with the principle of “one room, two cars”.
7. According to the main person in charge of the Department of Natural Resources of Hubei Province, the largest niobium ore in the country was discovered in Zhushan County and Zhuxi County, Shiyan City in 2024. The niobium oxide resource in this deposit reaches 2.538 million tons, accounting for 54% of the country’s total reserves. As a key strategic mineral resource, niobium plays an indispensable role in high-end industries such as aerospace and atomic energy.
company news
1. Yesterday afternoon, there were rumors that CICC and China Galaxy Securities would merge. In the evening, both companies issued clarification announcements stating that they had not received any written or verbal information from government departments, regulatory agencies or company shareholders about merger rumors, and that the controlling shareholder had no plans for rumored mergers.
2. Wuzhou New Year announcement that the company’s self-inspection production and operations are normal, and the Mexican factory’s 2024 performance falls short of expectations.
3. Goer shares announced that the controlling shareholder plans to increase its shareholding in the company by 500 million yuan to 1 billion yuan.
4. Jiangsu Wuzhong announced that it had been filed by the China Securities Regulatory Commission on suspicion of illegal information disclosure.
5. Zongshen Power announced that shareholder Xizang Guolong Technology plans to reduce its shares in the company by no more than 3%.
6. Nanshan Zhishang announced that ultra-high molecular weight polyethylene fiber tendon rope products are in the market development stage and no relevant orders have been formed yet.
7. Maixinlin released a performance report, and its net profit in 2024 will increase by 197% year-on-year.
8. Zhejiang Zhongcheng announced that the current revenue generated by SEPS series products accounts for a small proportion of the company’s total revenue.
9. Genesis announced that some products can be used in low-altitude economic fields, but related business revenue accounts for less than 0.1%.
10. Daye announced that due to intensified competition in the rubber skeleton materials industry, the company’s profitability is relatively limited.
11. *ST Boxin announced that the company’s shares will be terminated and delisted on March 5.
12. Zhongke Shuguang released a performance report, with a net profit of 1.914 billion yuan in 2024, a year-on-year increase of 4.26%.
13. Tengjing Technology announced that it plans to purchase control of Xunte Communications, and its stock will be suspended starting today.
14. Hangzhou Steel Co., Ltd. announced that it does not involve the research and development of core computing power technologies.
15. Xuelong Group announced that the company has no form of business cooperation with Yushu Technology.
global market
1. The three major U.S. stock indexes closed mixed, with the Dow down 0.43%, the Nasdaq up 0.26%, and the S & P 500 up 0.01%. Popular Chinese stocks generally rose, with the Nasdaq China Golden Dragon Index closing up 3.66%.
2. The settlement price of WTI crude oil futures fell 0.45% to US$68.62/barrel; the settlement price of Brent crude oil futures fell 0.67% to US$72.53/barrel.
3. COMEX gold futures closed up 0.44% at US$2,931.7 per ounce;COMEX silver futures closed up 1.31% at US$32.545 per ounce.
4. Nvidia’s fourth-quarter revenue was US$39.3 billion, a year-on-year increase of 78%; net profit was US$22.091 billion, a year-on-year increase of 80%.
Investment opportunity reference
1. DeepSeek is accelerating the launch of its R2 artificial intelligence model. The organization says DeepSeek is accelerating the empowerment of all industries
According to media reports, sources said DeepSeek is accelerating the launch of its R2 artificial intelligence model, which was originally planned to launch in May, but is currently working to launch as soon as possible.
DeepSeek’s localized deployment continues to expand and achieve large-scale applications in multiple fields. Shanghai Securities believes that with DeepSeek’s high-performance and low-cost open source features, it will bring technological upgrades and efficiency improvements to all walks of life, benefiting the explosion of AI applications.
2. Wanxiang, open source! Alibaba Open Source’s Wensheng video model Wanxiang 2.1
Alibaba Cloud’s video generation model Wanxiang 2.1 (Wan) is heavily open source. This open source uses the Apache 2.0 protocol. All inference codes and weights of the two parameter specifications 14B and 1.3B are all open source. It also supports Wensheng videos and graph students video tasks. Developers around the world can download and experience it in Github, HuggingFace, and Magic communities. It is noteworthy that Wanxiang has developed a new causal 3DVAE architecture specifically designed for video generation, and combined multiple strategies to improve spatio-temporal compression, reduce memory usage, and ensure temporal causality. Based on the mainstream DiT and linear noise trajectory FlowMatching paradigm, the Universal Phase Large Model has achieved significant improvements in generation capabilities through a series of technological innovations. Including self-developed and efficient causal 3DVAE, scalable pre-training strategies, large-scale data link construction, and automated evaluation indicators, these innovations together improve the final performance of the model.
Machine vision is one of the basic application technologies of artificial intelligence. By simulating the human visual system, it gives machines the ability to see and recognize. Guoyuan Securities Research News pointed out that machine vision is one of the most important cutting-edge technologies of artificial intelligence. It has obvious advantages in improving quality, increasing efficiency, and reducing costs, and can help industrial automation and intelligent development. Domestic manufacturers are accelerating the localization of machine vision core components and are expected to gradually realize import substitution, focusing on machine vision core components and equipment manufacturers.
3. Xiaomi’s new model will be officially launched. Agencies say that the model’s performance is expected to exceed expectations under the brand + ecological advantages
Xiaomi SU7Ultra will be officially launched on February 27. The car had been pre-sold before, with a pre-sale price of 814,900 yuan. Lei Jun said that Xiaomi’s SU7 Ultra product strength is very strong, the team is full of confidence, and the annual sales target of 10,000 units is 90% certain.
On October 29, 2024, Xiaomi officially launched the production version of the Xiaomi SU7 Ultra at the new product launch conference, with a pre-sale price of 814,900 yuan. This model is positioned as a high-end performance vehicle with a powerful power system. It only takes 1.98 seconds to accelerate from 0 to 100 kilometers per hour and can reach a top speed of 350 kilometers per hour. Soochow Securities believes that SU7 ‘s performance exceeded expectations under the brand + ecological advantages and is optimistic about Xiaomi Group and Xiaomi’s automobile industry chain. Haitong International Securities believes that Xiaomi Automobile’s first SUV has attracted high market attention. After the official launch, the overall sales volume of Xiaomi Automobile is expected to rise significantly. Benefiting from the scale effect, Xiaomi Automobile’s performance is expected to grow.
4. Deepseek innovation may bring opportunities to this chip field, which is developing rapidly.
On February 28, 2025, the “Open·Connect” 2025 Xuantie RISC-V Ecological Conference will be grandly held at the Hyatt Regency Wangjing Beijing. The official agenda shows that the chief scientist of the Dharma Institute will give a keynote speech entitled “Opportunities for RISC-V from Deepseek Innovation” and will also release the “core” of the XuanTie RISC-V group.
Meng Jianyi, chief scientist of Aridamo Institute and CEO of Zhihe Computing, pointed out that the RISC-V computing architecture that takes advantage of the AI era express train is the best choice for the computing power base of the new generation of digital infrastructure. It can not only meet the needs of high energy efficiency and high performance, but also It has the characteristics of safety, reliability, high cost performance, and scalability. Therefore, more and more manufacturers are beginning to use the RISC-V architecture, making continuous breakthroughs in their application scenarios, and gradually moving from Internet of Things devices and edge computing to AI computing, high-performance computing and other fields, with rapid development. Comparing the number of open source projects on GitHub for ARM architecture, X86 architecture and RISC-V architecture, RISC-V architecture projects have grown rapidly in the past few years, reaching more than 10,000. The gap with the other two continues to narrow, and it has great potential. It is expected that by 2030, the compound annual growth rate of RISC-V architecture product shipments will reach more than 40%, and the penetration rate in the entire industry will further deepen.
