B[Lyon: Optimistic about Korean semiconductors’ key position in Agentic AI supply chain Rating SK Hynix “highly confident of outperforming the market”] On September 22, Lyon published a research report stating that agent-based AI transforms a single inference of a large AI model into a long-term tool usage cycle that requires multiple rounds of execution for each task, putting pressure on memory capacity, bandwidth and rack-scale integrity, far beyond simple Computational problems require the cooperation of high-bandwidth memory (HBM), low-power double data rate (LPDDR)/small compressed add-on memory module (SOCAMM), enterprise-class solid-state drive (eSSD)/high-bandwidth flash memory (HBF), advanced packaging, testing, and front-end shrinkage. The bank pointed out that South Korea has an extensive end-to-end layout in key AI semiconductor processes such as AI memory, bonding, substrate, testing and front-end processing. The bank believes that with the support of structural Agentic AI demand and tight supply, K-enablers' fundamentals have improved and their positioning has been strengthened. SK Hynix, Samsung Electro-Mechanics and EO Technics have all been given a "highly confident outperform" rating, and Samsung Electronics, Hanmi Semiconductor, HPSP Eugene and ISC have been given an "outperform" rating. B[Minister of the Ministry of Ecology and Environment Huang Runqiu went to Hubei Province to investigate ecological and environmental protection work] On September 17th, Minister of Ecology and Environment Huang Runqiu went to Jingzhou City, Hubei Province to investigate ecological and environmental protection work. Black and smelly water bodies in counties and townships are a prominent ecological and environmental problem around the people, which directly affects the production and life of residents. Huang Runqiu successively visited Maoshi Town and Hongcheng Township, Jianli City, Jingzhou, to investigate the treatment of black and odorous water bodies in counties and townships, and inspected on-site the treatment of small and micro water body pollution and the collection and treatment of domestic sewage. He pointed out that we must adhere to environmental protection for the people, deepen the application of the experience of the "Ten Million Project", and strengthen investigation and rectification of black and smelly water bodies, ponds and ditches in county and rural tributary water bodies, so as to achieve early action and early results. It is necessary to reduce the generation of pollutants from sources such as production, life, and breeding front-end, ensure that black and smelly water bodies are long-term and clean, and continuously enhance the people's sense of ecological and environmental gain, happiness, and security. B[Hubei: Implementing the "First Subsidy and Second Share" Reform of Provincial Fiscal Science and Technology Funds] On September 15th, Hubei held a press conference on "Deepening Fiscal and Financial Collaboration to Empower Technological Innovation and High-Quality Development". According to the Hubei Provincial Department of Finance, it will improve the fund's comprehensive performance evaluation system and implement government investment income distribution; improve the due diligence exemption mechanism, increase the loss tolerance rate of seed funds invested in the "0 to 1" stage from 50% to 80%, and the maximum loss tolerance for a single project is 100%; implement differentiated assessments, and "not judge heroes by revenue" for the performance of early-stage funds such as seed funds, focusing on the quantity and quality of seed projects, and encouraging funds to "be able to invest, willing to invest, dare to invest, and invest well." This year, the provincial-level fiscal science and technology funds "first subsidize and then share" reform will be implemented. A single science and technology innovation project can be supported up to 3 million yuan. It adopts the method of free subsidy first and then market-oriented equity conversion. The joint seed fund continues to fill the front-end funding gap for the transformation of scientific and technological achievements. B[The State Administration of Financial Supervision and relevant departments convened a meeting of financial consumer and investor protection supervision liaison officers to discuss and exchange diversified solutions to financial disputes] September 11th, the State Administration of Financial Supervision, in conjunction with the People's Bank of China and the China Securities Regulatory Commission, recently held the fifth meeting of financial consumer and investor protection supervision liaison officers. The meeting emphasized that financial management departments must continue to improve the diversified resolution mechanism for financial consumer disputes. Strengthen the governance of the source of financial disputes, comprehensively use a variety of regulatory methods, and urge financial institutions to embed consumer and investor protection into the entire operation process and chain. Cooperate with relevant departments to deepen the "headquarters-to-headquarters" litigation and mediation docking and arbitration and mediation docking mechanism, unblock channels for enhancing the effectiveness of mediation agreements, improve supporting connection processes, and promote the front-end and substantive resolution of conflicts and disputes. Increase the publicity of diversified resolution of financial disputes, form a multi-level and multi-channel joint publicity pattern, focus on explaining to the public the advantages of non-litigation dispute resolution methods, use cases to explain the law and examples to demonstrate reasoning, and jointly create a social atmosphere in which disputes are resolved in accordance with the law and mediation takes precedence. B[The New Deal is Gradually Implemented, There are Positive Signs in the Real Estate Market in Beijing, Shanghai, and Shenzhen] September 3rd, reporters recently conducted field visits in Beijing, Shanghai, and Shenzhen and found that, driven by a number of policies, the local real estate market has heated up significantly in the short term. Data reflects the temperature of the property market. From the front-end viewing volume and consultation volume to the back-end transaction volume, all types of data send out warming signals. Experts believe that with the gradual implementation of the New Deal and the start of the "Golden Nine" market in the Beijing, Shanghai and Shenzhen property markets, the demand for rigid and improved housing is expected to be further released. (China Securities Journal)
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