GuShiio.com ① Li Qiang: To unleash the consumption potential of artificial intelligence terminal products ② The Supreme People’s Procuratorate and the China Securities Regulatory Commission will hold a press conference today to “Strictly crack down on securities crimes in accordance with the law and promote the healthy development of the capital market” ③ The Nasdaq China Golden Dragon Index closed up 1.6%④ Supervision and many foreign banks: Allowing mainland branches of Hong Kong and Macao banks to open bank card business does not mean that they can open overseas cards ② Alibaba released its third quarter results for the fiscal year 2025.
macro news
1. On February 20, the State Council held the 12th special study with the theme of “Adhere to the combination of promoting consumption and benefiting people’s livelihood, and vigorously boost consumption and expand domestic demand.” When presiding over the study, Premier Li Qiang of the State Council emphasized that it is necessary to thoroughly implement the decisions and arrangements of General Secretary Xi Jinping and the Party Central Committee on expanding domestic demand, shift the focus of economic policies more to benefiting people’s livelihood and promoting consumption, and use greater intensity and more precise measures to boost consumption and continue to enhance the fundamental role of consumption in economic development.
2. The Party Committee of the People’s Bank of China conveyed and learned from the spirit of General Secretary Xi Jinping’s important speech at the private enterprise symposium. The meeting required that a moderately loose monetary policy should be implemented and 25 measures to implement detailed financial support for the private economy should be implemented. The meeting emphasized the need to further smooth the three financing channels of stocks, bonds and loans, increase investment in various financial resource elements, strive to solve the problem of difficult and expensive financing for private enterprises, and provide strong financial support for the healthy development of the private economy and the strengthening, better and bigger private enterprises.
3. Foreign Ministry Spokesperson Guo Jiakun held a regular press conference yesterday. A reporter asked that US President Trump said that he believes there is a high possibility of reaching a trade agreement with China. In this regard, Guo Jiakun said that China has stated its position on Sino-US economic and trade issues many times. There are no winners in the trade war and tariff war, and what harm is the interests of people of all countries.
4. Foreign Ministry Spokesperson Guo Jiakun held a regular press conference yesterday. A reporter asked that Trump also expressed the hope that China leaders would visit the United States. Guo Jiakun said that China’s policy toward the United States is consistent and clear. We are willing to work with the United States to promote stable, healthy and sustainable development of Sino-US relations based on the principles of mutual respect, peaceful coexistence, and win-win cooperation. It is hoped that the United States will conscientiously implement the important consensus reached by the two heads of state over the phone and move towards China.
5. The People’s Bank of China held the 2025 macro-prudential work conference. The meeting called for improving the macro-prudential policy system, innovating macro-prudential policy tools, promoting the continued recovery of the economy, and maintaining the stable operation of the financial market. Improve real estate financial management, help the real estate market stop falling and stabilize, and support the construction of a new real estate development model.
6. On the afternoon of February 20, the Ministry of Commerce held a regular press conference in response to the US plan to implement so-called reciprocal tariffs. He Yadong, spokesperson of the Ministry of Commerce, said that China urges the United States not to wield a “tariff stick” and use tariffs as a tool to engage in coercion everywhere. There is no way out in the tariff war and there will be no winners. The United States should correct its wrong practices and work with other countries to find solutions to problems through equal consultations.
industry news
1. The State Financial Supervision and Administration yesterday issued a notice on “Matters Related to the Opening of Bank Card Business by Hong Kong and Macao Banks in Mainland China”, which lifted the restriction that mainland branches of Hong Kong and Macao Banks are not allowed to operate bank card business. The “Notice” will be officially implemented from March 1, 2025. A reporter from the Financial News Agency learned from the supervision and many foreign banks that the bank card business in this round of liberalization is mainly for domestic cards, not the liberalization of restrictions on opening accounts of overseas cards.
2. Since the beginning of this month, a large number of false “good news” have spread and spread on several major investor exchange platforms in the form of AI Q & A screenshots. A group of account “vest” misled the AI model to give wrong answers by spreading rumors such as “a company has invested in DeepSeek” and “a company provides technical services for DeepSeek”, using AI as a new tool for setting up an “information trap” to deceive shareholders. According to statistics from Cailian reporters, five listed companies, including Cixing, Tiancheng, Parallel Technology, Chengmai Technology and 360, have recently been used by “black mouths” to fabricate and disseminate false information using AI questions and answers.
3. The Supreme People’s Procuratorate and China Securities Regulatory Commission are scheduled to jointly hold a press conference on “Strictly Combating Securities Violations and Crimes in accordance with the Law and Promoting the Healthy Development of the Capital Market” in the Multi-Function Hall of the Supreme People’s Procuratorate at 15:00 pm today. Ge Xiaoyan, Deputy Prosecutor General of the Supreme People’s Procuratorate, and Li Ming, Vice Chairman of the China Securities Regulatory Commission, will attend the press conference and answer questions from reporters.
4. Recently, there was market news that “the scale of quantitative management of magic squares has shrunk extremely, reaching more than 10 billion yuan.” A reporter from the Financial Union learned from many insiders that the current quantitative management scale of magic squares is about 50 billion yuan.
5. The People’s Government of Guangdong Province issued “Several Measures for Guangdong Province to Promote High-Quality Development of Service Consumption.” It mentioned that we should vigorously develop digital consumption. Promote the layout of new business formats such as e-sports, Social commerce, Live streaming eCommerce, unmanned retail stores, and self-delivery cabinets, support Live streaming eCommerce platforms to innovate cargo delivery models and scenarios such as virtual anchors and 3D live broadcast rooms, and link communities and business districts to implement refined operations.
6. The “Notice on the Implementation Rules for Direct Equity Investment of the Science and Technology Innovation and Venture Capital Fund of Guangzhou Development Zone (Huangpu District)” was officially released. The “Notice” shows that seed direct investment, angel direct investment, and industry direct investment of state-owned parent funds are allowed to incur losses of up to 50%, 40%, and 30% of the total investment of each category respectively. Seed direct investment and angel direct investment are allowed to incur a maximum of 100% losses.
7. The Grok APP of Musk’s AI company xAI rose to the top spot in the US App Store for free apps, surpassing ChatGPT.
company news
1. SMIC announced that on February 19, China Securities Exchange Science and Technology Innovation Board 50 Index Fund reduced its holdings of 2.81 million shares of the company.
2. Alibaba’s revenue for the third quarter of fiscal year 2025 (the quarter ended December 31, 2024) was 280.15 billion yuan, a year-on-year increase of 8%. The company’s cloud business revenue returned to double-digit growth of 13%. Alibaba Group CEO Wu Yongming said at the earnings conference that Alibaba will soon release an in-depth reasoning model based on Qianwen Qwen2.5-MAX.
3. *ST ICT announced that relevant verification work has been completed and trading will resume today.
4. Sichuan Jinding announced that relevant procedures for the transfer of equity in Kaiwu Information are being processed.
5. Wen’s shares released a performance report, with a net profit of 9.245 billion yuan in 2024, a year-on-year loss.
6. Yunzhongma announced that the company’s current shareholding in Zhongxi New Materials (Anhui) Co., Ltd. is small and will not have a significant impact on the company’s performance.
7. Dongpeng Beverage announced that Kunpeng Investment plans to reduce its shareholding by no more than 1.3786%.
8. Zhongding announced that it has signed a strategic cooperation agreement with Zhongqing Robot to cooperate on humanoid robot-related products.
9. Hangzhou Chi Qianjin announced that the “Highly Integrated and High Power Density Joint Component Technology” project undertaken will not generate sales revenue in 2025.
10. Jinfa Technology announced that the company has a penetration shareholding of 0.42% in Hangzhou Yushu Technology Co., Ltd., and the company’s indirect shareholding in Yushu Technology is extremely low.
11. Inner Mongolia Huadian announced that it plans to purchase assets by issuing shares and paying cash to resume trading in the company’s shares.
12. Shuanglin announced that the company’s roller screw products have only completed relevant sample research and development and have not yet achieved operating income.
13. Hangzhou Steel Co., Ltd. announced that shareholder Chengtong Financial Holding plans to participate in the redemption of shares of the China Securities 500ETF.
14. Guiguang Network announced that its indirect controlling shareholder has changed its name and plans to reorganize and integrate it with Colorful Guizhou Network.
15. Wuhan Holdings announced that it planned to issue shares and pay cash to purchase assets, and its shares were suspended.
global market
1. The three major U.S. stock indexes collectively closed down, with the Dow down 1.01%, the Nasdaq down 0.47%, and the S & P 500 down 0.43%. AppLovin fell about 9%, its worst one-day performance since December last year. Most popular Chinese stocks rose, with the Nasdaq China Golden Dragon Index closing up 1.6%. Alibaba and Beili increased by more than 8%. Most major European stock indexes closed down, with Germany’s DAX30 index down 0.53%.
2. The settlement price of international crude oil futures closed up slightly. WTI March crude oil futures rose 0.44%, and Brent April crude oil futures rose 0.58%.
3. COMEX gold futures rose 0.67%, once setting an intraday record high;COMEX silver futures rose 1.2%.
Investment opportunity reference
1. Shenzhen Hospital introduces DeepSeek technology to help the development of smart medical care
Shenzhen People’s Hospital has successfully realized the localized deployment of DeepSeek technology and plans to conduct in-depth exploration in smart services, smart medical care and smart management. Ding Wanfu, director of the hospital’s Information Technology Department, said that the current application of AI in smart medical care is mainly concentrated in the field of assisted diagnosis. The AI large model pre-consultation service developed in cooperation with Tencent has been applied in hospitals, helping patients receive pre-consultation push after registration and helping doctors quickly generate electronic medical records. This measure aims to solve the problem of short medical treatment time and improve the efficiency of medical services. At the same time, Luohu District is also actively promoting the implementation of “AI+ medical” application scenarios to further increase the penetration rate of artificial intelligence in the medical and health field.
“AI+ medical” has significant advantages over traditional medicine research and development. It builds a moat in the closed-loop algorithm + data + clinical scenarios. The global market size is expected to increase from US$13.7 billion in 2022 to US$155.3 billion in 2030, with a compound growth rate of 35.5%. The pharmaceutical team of China Post Securities believes. “AI+ medical” is expected to be used in drug research and development, cancer diagnosis, medical imaging, surgical robots and other fields, and the industry may usher in tremendous changes.
2. China Academy of Information and Technology officially launched a special test for AI glasses
According to media reports, the Tell Terminal Laboratory of China Academy of Information and Technology, in conjunction with S-Dream Lab, conducted comprehensive and objective functions, performance, usability and reliability tests on the main usage scenarios and functions of RayBan-Meta Wayfarer smart glasses from 7 modules: basic configuration, audio, image, anti-shake, interaction, battery life, and security and privacy, aiming to provide reference evaluation indicators for the AI glasses industry and promote technological innovation and upgrading. and industrial standardization process. Promote the sound and sustainable development of the industry ecology.
AVIC Securities believes that according to WellsonXR forecast, displayless AI will officially move towards large-scale growth in 2025 and rapidly penetrate into traditional glasses; by 2035, global sales of AI+AR smart glasses will reach 1.4 billion pairs, which is equivalent to the scale of smartphones, becoming the next generation of universal computing platforms and terminals. Hybrid AI provides a new interactive way for smart glasses, AI glasses or end-to-side AI important landing scenes. In the future, as AR technology matures and the comprehensive cost of products declines, the combination of AI+AR glasses may also bring more development opportunities to related industries.
3. First, Lenovo will deploy the DeepSeek model locally in AIPC
Lenovo Group announced that it will deploy the DeepSeek large model locally on the end-side of AIPC, marking the company as the first PC manufacturer in the world to deploy DeepSeek on the end-side.
Guotai Junan Shudi said that the recent Deepseek open source model has lower hardware adaptation costs and excellent reasoning performance. The distilled model can be deployed locally on the PC through Anything LLM and Olama, which not only protects data privacy, but also can be customized and optimized according to needs. Compared with other terminals, PCs have the attributes of productivity tools, and users are more pursuing performance experience. They are the first choice terminal to host larger-scale local models.
4. Empowered by intelligent applications such as AI, the rigidity of demand for such hardware is expected to continue to grow
According to media reports, the open source DeepSeek model has become popular, and the online education industry has caused waves. Recently, leading companies such as Xueersi, Netease Youdao, Zhonggong Education, Ape Tutoring, and Homework Help have intensively announced access to the DeepSeek model. Xueersi CTO Tian Mi said that Xueersi’s intelligent education hardware products will be connected to DeepSeek, and grayscale testing has been launched on the flagship learning machine.
In recent years, with the surge in demand for online education, the learning machine market has achieved explosive growth. According to the “2024 China Educational Intelligent Hardware Industry Development Trend Report”, the scale of China’s educational intelligent hardware market has exceeded 100 billion yuan, and intelligent learning hardware is gradually becoming the “standard” for tens of millions of families. Zheshang Securities pointed out that according to Luotu Technology’s forecast, all-channel sales of learning tablets in China are expected to reach 5.88 million units in 2024, an expected year-on-year increase of 24.6%. Empowered by intelligent applications such as AI, the rigidity of consumer demand for educational hardware is expected to continue to grow, which in turn will drive the continued growth of the learning machine market.
