On June 18, the main contents of the Science and Technology Innovation Board Morning Post are: Shanghai's seven departments: Achieve full coverage of financial services for "chain owners" enterprises by the end of 2025; Microsoft and Apple both reached historic highs; The US Supreme Court agrees to hear a case about Nvidia cryptocurrency mining revenue.

This is Little K, your anchor for the Science and Technology Innovation Board Daily.

Market Dynamics

The Ministry of Industry and Information Technology: Make every effort to promote the steady growth of the raw materials industry and accelerate the cultivation and development of the new materials industry.

On June 16, Wang Jiangping, Deputy Minister of the Ministry of Industry and Information Technology, presided over the National Raw Materials Industry Symposium 2024 in Chongqing. The meeting emphasized the need to fully implement the layout of the new industrialization strategy and systematically promote the key tasks of high-quality development of the raw materials industry. Efforts should be made to promote stable growth of the raw materials industry, carefully implement the key industries stable growth plan, accelerate the construction of major projects, thoroughly implement equipment upgrading and technical transformation projects, focus on expanding the demand of key industries, and ensure the completion of expected growth targets. Efforts should be made to accelerate the cultivation and growth of the new materials industry, aiming to guarantee major application needs and achieve the goal of material-oriented development. The construction of new material big data centers should be systematically laid out, the establishment of new material pilot platforms should be promoted, the policy system for the promotion of the first batch of material applications should be improved, and efforts should be made to address weaknesses, extend strengths and forge new strengths.

By the end of 2025, the supply chain financial services of Shanghai's leading enterprises, "chain owners" enterprises and important industrial chain will be fully covered.

The China Banking and Insurance Regulatory Commission Shanghai Regulatory Bureau and other seven departments issued the Action Plan for the Construction of the Supply Chain Financial Demonstration Zone of Shanghai's Banking and Insurance Industry. It proposes to focus on the key areas of integrated circuits, artificial intelligence, biomedical and other key areas as well as the stability and strengthening of the supply chain for Shanghai's key industrial clusters. It aims to explore innovative service channels, provide comprehensive supply-chain financial services in all aspects, realize the integrated development of industry, science and technology and supply chain finance, comprehensively enhance the ability of financial services industry chain, and explore new modes of integrated development of industrial chain, supply chain and capital chain.

Taiwan Semiconductor plans to increase prices: 3nm may increase by more than 5%, and advanced packaging may increase by 10%-20%.

It is reported that TSMC plans to raise prices. The price increase of 3nm foundry is more than 5%, and the annual quote for advanced packaging next year is about 10%-20%. TSMC's 3nm has received full orders from seven major customers such as Apple and NVIDIA, and the order is expected to be full until 2026.

Microsoft and Apple both reached historic highs.

The three major US stock indexes collectively rose, with Nasdaq up 0.95%, S&P 500 Index up 0.77%, and Dow up 0.49%. Among them, Nasdaq and S&P 500 Index hit new record closing highs again, and Nasdaq achieved six consecutive trading days of new record closing highs. Most large-cap technology stocks were up, with Tesla up over 5%, and Microsoft, Apple, and Intel up over 1%. Netflix, Google, Amazon, and Meta rose slightly; while Nvidia fell slightly. Among them, Microsoft and Apple have both reached historic highs.

The US Supreme Court agrees to hear a case about Nvidia cryptocurrency mining revenue.

The US Supreme Court has agreed to consider raising the bar for shareholder claims of securities fraud. Nvidia is seeking to block an investor lawsuit alleging the graphics chip maker misled investors before a cryptocurrency mining sales slump in 2018. On Monday, the justices said they will hear Nvidia’s argument that the lawsuit lacks enough detail to move forward. Shareholders of Nvidia say that for 2017 and 2018, Chief Executive Officer Huang Renxun concealed the record revenue growth was driven by sales related to the company’s flagship product, GeForce GPU, rather than gaming sales. Investors argue that volatility in the cryptocurrency market meant the risk the company faced was greater than what it disclosed.

Company Overview

Longi Green Energy plans to issue RMB 10 billion corporate bonds, which have been approved at the shareholders' meeting.

Longi Green Energy announced that the proposal on public issuance of corporate bonds worth RMB 10 billion passed by the 2023 Annual General Meeting of Shareholders.

Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. plans to terminate convertible bonds issuance to unspecified objects and withdraw application documents.

Shanghai Bright Power Semiconductor Co., Ltd. announcement: The company plans to terminate the issuance of convertible corporate bonds to unspecified objects ("this issuance") and the listing on the sci-tech innovation board, and apply to the SSE for withdrawal of relevant application documents. The termination of this issuance and the withdrawal of application documents will not have a significant adverse effect on the company's normal business operations and sustained stable development.

Chunli Medical: plans to buy back company shares for 20-40 million yuan.

Chunli Medical announcement: plans to buy back company shares for 20-40 million yuan. The repurchase price will not exceed 28.56 yuan per share.

Shichuang Energy: The component business using interlaced grid technology is still in preparation.

Shichuang Energy has released an announcement about the abnormal changes. The company has recently launched a component using interlaced grid technology. At present, the component business is still in preparation, and there is considerable uncertainty in the future market. Upon self-inspection, the company's current production and operation activities are normal. There have been no major adjustments in market environment and industry policies, and there has been no significant fluctuation in production costs and sales. The internal production and operation order is normal. There is no recent signing or negotiation of major contracts, nor investment in new projects for the transformation and upgrading of non-industrial sectors.

Shenzhen Chipscreen Biosciences: Clinical trial of Sioronii capsules for the treatment of pancreatic cancer has been approved.

Chipscreen Biosciences hereby announces that the company and its wholly-owned subsidiary, Chengdu Chipscreen Medicine, have recently received the Approval Letter for Clinical Trial of Drugs issued by the National Medical Products Administration. The phase II clinical trial application of Sioronii capsules in combination with albumin bound paclitaxel and gemcitabine for the first-line treatment of advanced pancreatic cancer has been approved.

Kexing biopharm: the first subject has been enrolled in the phase I clinical trial of GB08 injection.

Kexing Biopharm announcement: The first subject of the I phase clinical trial of "GB08 injection" developed by the wholly-owned subsidiary Shenzhen Kexing Pharmaceutical Co., Ltd. has successfully completed entry and medication. GB08 injection is the company's first independently developed class I innovative drug, a long-acting growth hormone Fc fusion protein autonomously developed by the company based on the clinical needs of patients and the lack of growth hormone in children. The company's GB08 injection is declared as an innovative biological product of class I for therapeutic use.

Cutting-edge Technology

Fastest chipsets help build the next generation of wireless systems.

According to research by researchers from the National Institute of Information and Communications Technology and the Tokyo Institute of Technology in Japan, a new D-band silicon complementary metal oxide semiconductor (CMOS) transceiver chipset with a 56GHz signal link bandwidth achieved a wireless peak transfer rate of 640 Gbps. The achievement was announced at the 2024 IEEE VLSI Technology and Circuit Symposium held in Honolulu, USA.

Shanghai experts have developed a super-fast convolutional optical neural network to help artificial intelligence imaging.

A research team led by Professor Zhang Qiming of the School of Intelligent Technology, Shanghai University of Technology, and Academician Gu Min of the School of Intelligent Technology and the Light Computing Institute of Zhangjiang Laboratory, has developed a super-fast convolutional optical neural network (ONN), which can efficiently and clearly image objects after scattering media without relying on optical memory effects. This not only subverts traditional optical imaging technology, but also demonstrates the potential application of convolutional networks in artificial intelligence.

Solid-state battery technology research has made breakthroughs.

TDK Corporation of Japan recently announced that it has successfully developed a new all-solid-state battery material that provides an energy density of 1,000 watt-hours per liter, which is about 100 times higher than the battery currently mass-produced by TDK. This revolutionary progress is expected to bring unparalleled endurance experience to small electronic devices such as smart watches and hearing aids.