WARSH: FINANCIAL ASSETS HAVE BENEFITED FROM FED BALANCE SHEET

Key News 1. White House: US and Iran are on the "edge" of reaching an agreement. 2. Domestic oil prices have been lowered for the first time this year; filling a 50-liter tank with 92-octane gasoline will cost 22 yuan less. 3. Ministry of Industry and Information Technology: Research and standard-setting on computing-computer synergy policies are underway; support is being given to forward-looking research on space computing technology. 4. Ministry of Industry and Information Technology: All 31 provinces achieved positive growth in industrial added value above designated size in the first quarter. 5. National Committee of the Chinese People's Political Consultative Conference: Further enhance the forward-looking coordination of macroeconomic policies and implement a more proactive fiscal policy. 6. Shanghai: Accelerate the pilot application and productization of technologies such as brain-computer interfaces, 6G mobile communication, and quantum computing. 7. my country's independently developed quantum computer, "Origin Wukong," has achieved artificial intelligence computing capabilities. Individual Stock News 1. According to data on main capital flows, N Shenghe saw the largest net inflow of main capital at 4.306 billion yuan, followed by CATL, Zijin Mining, GigaDevice, and Dongshan Precision. Luxshare Precision saw the largest net outflow of main capital at 1.198 billion yuan, followed by Runze Technology, Tianfu Communication, BlueFocus, and Inspur Information. 2. Liquid cooling leader Invic responded to a sharp decline in performance after its stock price hit the daily limit down, citing pressure on gross profit margins, bad debt provisions, and exchange losses as dragging down its performance. 3. North China Electronics: The company's equipment can cover various equipment technology needs of DRAM and NAND memory production lines. 4. Aidite: Emphasizes supply chain security and stability, and has backup plans to cope with extreme situations. 5. GCL System Integration: The company's perovskite multilayer products are in the R&D stage and have not yet achieved mass production. 6. Xiechuang Data: Will continue to increase investment in computing power business this year, and currently has a sufficient order backlog. 7. Nanjing University Optoelectronics: In 2025, ArF photoresist revenue exceeded 20 million yuan, but it did not reach full production capacity.

CHINA STATE COUNCIL ISSUES GUIDANCE ON ADVANCING EXPANSION AND QUALITY UPGRADING OF THE SERVICES SECTOR