GuShiio.com ① The European Union launches a 20 billion euro fund to support artificial intelligence super factories ② Goldman Sachs: Global hedge funds bought China stocks last week ③ Tesla fell more than 7%④ Huawei and SAIC cooperation model is basically confirmed ② Ningde Times New Energy Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange.
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macro news
1. On February 11, nine units including the Ministry of Commerce, the Ministry of Culture and Tourism, and the China Railway Group publicly released the “Action Plan on Opening More Silver Tourist Trains to Promote the Development of Service Consumption.” It is proposed to include the aging-friendly, green and comfortable transformation of silver-haired tourist trains into the scope of large-scale equipment updates and consumer goods trade-in support. Liu Ming, director of the Social Development Department of the National Development and Reform Commission, said that in the application for large-scale equipment renewal projects, silver-haired tourist trains will be the focus of support in the field of culture and tourism, and financial support for ultra-long-term special treasury bonds will be increased.
2. The Shanghai City Government held a symposium on foreign-funded financial institutions to listen to the opinions and suggestions of foreign-funded financial institutions, and study work related to further optimizing the business environment and promoting high-level opening up of the financial industry. At the symposium, the heads of foreign financial institutions introduced their respective business developments in Shanghai. They generally believed that the opening up of China’s financial industry has been steadily advanced in recent years. Shanghai is deepening the reform and opening up of the financial industry, optimizing the business environment, and improving financial data. A series of measures have made positive progress in managing cross-border flows.
3. The text of the executive order signed by U.S. President Trump shows that a 25% tariff on all steel and aluminum imported into the United States will take effect on March 12. On February 10, local time, U.S. President Trump signed an executive order announcing a 25% tariff on all steel and aluminum imported into the United States. Trump also said on the same day that there were “no exceptions or exemptions” to the relevant requirements.
4. Goldman Sachs said in its latest research report that global hedge funds have been buying large amounts of China stocks for most of this year. As the global capital market formed a “DeepSeek Consensus”, capital inflows last week erupted even more.
industry news
1. The reporter learned from industry insiders close to Huawei yesterday that the cooperation between Huawei and SAIC in the smart car model has been basically confirmed. Currently, Huawei’s smart car team has settled in SAIC Group. Huawei announced the registration of the “Shangjie” trademark on February 7 this year.
2. European Commission President Von der Leyen launched the “Artificial Intelligence Investment” initiative at the Artificial Intelligence Action Summit, aiming to raise 200 billion euros for artificial intelligence investment, including 20 billion euros for the new European fund for artificial intelligence super factories. The EU’s investment fund will provide funding for four future artificial intelligence super factories.
3. In order to meet the needs of enterprises for privatization and localization deployment, China Telecom Tianyi Cloud officially launched the Xirang Intelligent Computing All-in-One Machine-DeepSeek version, providing intelligent computing solutions with excellent performance, security and controllability for all walks of life.
4. Data released by the Passenger Federation Branch on the 11th showed that in January 2025, the retail sales of the national passenger car market were 1.794 million, a year-on-year decrease of 12.1% and a month-on-month decrease of 31.9%. In January, retail sales of new energy passenger vehicles reached 744,000 units, a year-on-year increase of 10.5% and a month-on-month decrease of 42.9%.
5. Yesterday morning, the commissioning ceremony of Tesla’s Shanghai Energy Storage Super Factory was held in Lingang, Shanghai. A relevant person in charge of Tesla said that Tesla’s energy storage super factory may bring industrial chain aggregation like Tesla’s Shanghai super factory.
6. Many banks, including Bank of Jiangsu and Bank of Beijing, have recently lowered their US dollar deposit rates. Previously, the US dollar deposit interest rates of these banks were at a relatively high level in the industry, generally reaching more than 4%. After this adjustment, the interest rates have dropped to 3% and below.
7. According to the Ministry of Industry and Information Technology, from January to December 2024, leather, fur, feather and their products and footwear enterprises above designated size achieved operating income of 853.32 billion yuan, a year-on-year increase of 3.7%; the total profit was 46.09 billion yuan, a year-on-year increase of 1.6%.
8. The agency released a report saying that in 2024, the Southeast Asian smartphone market rebounded strongly, with manufacturers shipping reaching 96.7 million units, a year-on-year increase of 11%, ending two consecutive years of decline. OPPO led the market for the first time, accounting for 18% of the market with shipments of 16.9 million units, a year-on-year increase of 14%.
9. The General Office of the People’s Government of Guangdong Province issued the “Several Measures on Promoting the Deep Integrated Development of Manufacturing and Producer Services”, which proposed to promote manufacturing enterprises and universities, scientific research institutes, etc. Jointly build a number of concept verification and pilot verification platforms around key industries such as integrated circuits, low-altitude economy, intelligent robots, and new materials.
company news
1. Ningde Times New Energy Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange. The sponsors include Bank of America, China International Capital, JP Morgan Chase, Goldman Sachs, UBS, etc.
2. SMIC released a performance report, with net profit of 3.699 billion yuan in 2024, a year-on-year decrease of 23.3%. It was announced on the same day that revenue in the first quarter of 2025 is expected to increase by 6% to 8% month-on-month, and gross profit margin is 19%-21%.
3. *ST Longjin announced that the listing of the company’s shares may be terminated.
4. Haitong Securities announced that the Shanghai Stock Exchange accepted the application for termination of the listing of the company’s A-shares.
5. Guokewei announced that the shareholding ratio of shareholder integrated circuit funds has dropped below 5%.
6. Meige Intelligent announced that it has carried out model adaptation and end-side deployment work for DeepSeek related models, and its impact on the company’s operating results is uncertain.
7. Sishuang Medical Technology announced that the company has no relevant cooperation with DeepSeek.
8. Changjiang Power announced that the controlling shareholder, China Three Gorges Group, plans to transfer 4% of the company’s total share capital to Changjiang Environmental Protection Group free of charge.
9. Yongxin Zhicheng announced that the company’s AI model platform has been connected to the DeepSeek series of models, and related business income accounts for a very small proportion of operating income.
10. Longruan Technology announced that the company has realized DeepSeek access and application in some products, but has not yet generated performance revenue.
11. Runjian announced that the company has not signed a service cooperation agreement with DeepSeek.
12. *ST Jiayu announced that there is a risk that the stock may be terminated because the stock price is lower than the par value.
13. Auride announced that the company has no business cooperation with DeepSeek’s development company.
14. Good Products Store announced that shareholder Dayong Limited plans to reduce its shares in the company by no more than 3%.
15. Hangzhou Steel announced that the company has nothing to do with core technologies such as the development and application of the DeepSeek system.
global market
1. Federal Reserve Chairman Powell reiterated that there is no need to rush to adjust interest rates and that the inflation target will remain at 2%. The three major U.S. stock indexes closed mixed, with the Dow rising 0.28%, the S & P 500 rising 0.03%, and the Nasdaq falling 0.36%. Tesla fell more than 6%, falling for five consecutive days on the daily line, hitting a new low since November 14 last year and the largest one-day decline since December 18. Intel rose more than 6%, the largest one-day gain since January 21. Most popular Chinese stocks fell, with the Nasdaq China Golden Dragon Index closing down 1.66%. European stocks closed higher across the board, while German and British stock markets continued to hit record highs.
2. The settlement price of international crude oil futures rose by more than 1%. WTI crude oil futures rose 1.39% in March, while Brent crude oil futures rose 1.49% in April.
3. COMEX gold futures fell 0.26%, hitting a new high during the session. COMEX silver futures fell 0.71%.
Investment opportunity reference
1. DeepSeek explodes or accelerates the implementation of this type of AI applications, and a number of new AI products are planned to be released in the first half of this year
Institutional research reports pointed out that DeepSeek is accelerating the implementation of AI glasses applications. Recently, DeepSeek has successively released a number of large open source models. Through technology cost reduction, its reasoning capabilities have officially reached the level of leading overseas models at extremely low cost. As of February 4, DeepSeek’s daily activity has exceeded 20 million; the “open source + low price + distillation” model is expected to promote the improvement of the AI ecosystem and the implementation of applications.
Media reports said that if the plans of various manufacturers advance as scheduled, consumers will see a batch of AI glasses launched in a concentrated manner in the first half of this year. Huaxi Securities pointed out that AI glasses are blooming everywhere and have huge potential in the future market space. Pan-AI smart glasses (AI audio/video glasses +AR glasses) are expected to match mobile phone shipments in the long term. Looking to the future, with the enrichment of product forms, the continuous downward exploration of costs, the iterative upgrading of optical display solutions, and the improvement of AI end-side computing power, AI glasses are expected to become the next consumer electronics terminal with shipments exceeding 100 million, and the potential market in the future is huge. It is recommended to focus on core links with a relatively high value.
2. Such products are becoming increasingly critical and can provide efficient AI computing capabilities on edge devices
NXP announced that it has reached a final agreement with fringe NPU company Kinara and plans to acquire the latter for US$307 million in cash. The transaction is expected to complete in the first half of 2025, subject to customary closing conditions including regulatory approval. NXP says Kinara’s innovative NPU and comprehensive software support can provide energy-efficient AI performance in a range of neural network applications to meet the rapidly growing AI needs of the industrial and automotive markets.
As a processor specifically targeted at artificial intelligence computing, NPU (Neural Processing Unit) has become increasingly critical with the rapid development of AI technology. It can efficiently process neural network computing tasks, greatly improve computing efficiency and reduce energy consumption, providing strong hardware support for AI applications. With the advent of AI PCs and AI mobile phones, as well as the introduction of artificial intelligence into smart AR glasses and smart driving cars, large AI models are gradually being optimized to adapt to edge devices, and NPU can specifically accelerate these optimized models to provide better performance and efficiency.
3. AI’s empowerment of the consumer e-commerce industry chain has begun to show results
According to media reports, a recent executive meeting of the State Council studied work related to boosting consumption. The meeting pointed out that we should promote the renewal and upgrading of bulk consumption, increase support for the replacement of old consumer goods, better meet housing consumption needs, and extend the automobile consumption chain. Strengthen the leadership of consumer brands, support the accelerated development of new consumption, promote “artificial intelligence + consumption”, etc., and continue to create new consumer products, new scenarios and new hotspots.
Soochow Securities stated that e-commerce/cross-border e-commerce belongs to an industry with a long industrial chain, many participants, rich information presentation forms, and a very large data volume and market scale. AI+ e-commerce is a very large application scenario, which is important to the industry. All players in the chain will bring experience and efficiency improvements. After more than a year of exploration by important players at home and abroad, the AI model has begun to show results in empowering the e-commerce industry chain.
4. Play Deepseek! Giant holds cloud talk AI seminar
Volcano Engine and Big Bean Bag Models held an online AI seminar with the theme of Deepseek on the Fire Mountain Engine! The topics involve API calls DeepSeekR1, low-code, HiAgent, etc. on the Volcano Ark.
Previously, Byte’s cooperation cases in various industries not only demonstrated the widespread application of its volcano engine cloud service and bean bun AI model, but also reflected the important role of digitalization and AI technology ecology in promoting industry innovation and intelligent transformation. It also demonstrates the company’s determination to use AI technology as a strategic development. Guodu Securities believes that the current AI model is accelerating its iteration, and the demand for computing power continues to increase. Some overseas AI applications have already been implemented in the B-side commercial model. Domestic manufacturers such as Byte are making every effort to add AI, and the overall AI industry has broad room for future development.
