The Polish Civil Aviation Authority stated that Lublin and Rzeszów airports were closed due to military aviation operations.

1. iPhone 18 Pro / Pro Max ① Chip: Powered by the A20 Pro chip, built on a 2nm process; features a new-generation C2 modem; ② Camera: The main camera supports variable aperture for the first time, with upgraded video capabilities; ③ Battery: The iPhone 18 Pro can charge to up to 50% in approximately 15 minutes; the Pro Max offers up to 43 hours of video playback. ④ Other: The Live Island feature is smaller, supporting simultaneous display of three live events; two new colors are added: Glacier Blue and Burgundy Red; ⑤ Price: The iPhone 18 Pro starts at RMB 9999; the iPhone 18 Pro Max starts at RMB 10999; pre-orders begin September 12th, and sales begin September 18th. 2. Foldable iPhone Duo ① Chip: Powered by the A20 Pro chip; ② Screen: Features a 7.6-inch nano-textured inner screen, making it the thinnest iPhone ever when unfolded, along with a 5.4-inch outer screen; both screens support ProMotion, always-on display, and up to 3000 nits of outdoor brightness; ③ Camera: Equipped with a 48MP main camera and a 48MP ultra-wide-angle camera. The foldable design supports selfies using the rear camera and live preview on the outer screen; the inner screen uses an under-display FaceTime camera; ④ Battery Life: Up to 44 hours of video playback using the outer screen, and up to 31 hours using the inner screen; ⑤ Other: Titanium body, IP68 dust and water resistant; Touch ID integrated into the side button; weighs 254 grams; available in Midnight and Starlight White colors; supports Apple Pencil; eSIM only; ⑥ Price: iPhone Duo starts at 15,999 yuan. Pre-orders begin October 16th, and it will be available from October 23rd. 3. Other ① AirPods 5: Reduces noise by up to 50% compared to AirPods 4; base model priced at 999 yuan, wireless charging version priced at 1149 yuan; ② Apple Watch Series 12 and Apple Watch Ultra 4: Introduces persistent Siri and "Audio Intelligence" capabilities, along with the "Live Rewind" feature. Apple Watch Series 12 starts at 2999 yuan, Ultra 4 starts at 6499 yuan. ③ The standard iPhone 18 was not released at this event, nor was any further information provided. After the event, the official website showed that the iPhone 17, 17e, and Air models all increased in price by 800 yuan compared to their launch prices; ④ This event was the first product launch hosted by Apple's new CEO, Tenus. Cook made a brief appearance in the opening video before the camera focused on Tenus.

On September 9th, the Buffett Indicator (CSI 300 market capitalization/GDP) rebounded to 92.67%, having maintained a narrow range of fluctuation recently. The equity risk premium (ERP) of the CSI 300 Index, a stock-bond ratio indicator, was 5.67%, remaining near the high point of August 15, 2025. From a longer-term perspective, this indicator has gradually moved from the lower end of its five-year fluctuation range towards the middle, suggesting that the current advantage of stocks relative to government bond yields has increased, returning to a neutral level. -------- Note: 1. The Buffett Indicator compares the total market capitalization of the stock market to GDP to determine whether the stock market is currently overvalued. Generally, 70-100% is considered a normal valuation; below this range is considered undervalued, and above is considered overvalued. 2. The risk premium (ERP) of the CSI 300 Index is mainly compared with the returns of the CSI 300 and the yield of government bonds. Statistics from the past 10 years show that this indicator has a clear inverse relationship with the stock index. Every time the stock market is in the bottom area, the risk premium exceeds 6%. That is, when ERP ≥ 6%, the stock market has investment value, while when ERP ≤ 4%, the stock market is often close to or at a stage high, the investment value is low, and there is even a risk of correction.