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Real-time News
June 29th – The first China-Shanghai Cooperation Organisation (SCO) Science and Technology Innovation Cooperation Conference was held in Qingdao, Shandong Province on June 29th. The conference, themed "Smart SCO, Shared Future – Building a New Ecosystem of Open and Inclusive International Science and Technology Cooperation," brought together government officials, renowned scientists, technology business leaders, and young science and technology pioneers from SCO member states to conduct in-depth and multi-dimensional dialogues and industry matchmaking on key topics such as artificial intelligence applications, cutting-edge technology transfer, and innovation resource sharing. During the conference, a series of activities were held, including the release of 100 scientific and technological achievements and 100 technological needs between China and SCO member states, the signing of SCO member states science and technology innovation cooperation projects, and the SCO Member States Youth Innovation and Entrepreneurship Competition.The China Earthquake Networks Center officially measured a 3.1-magnitude earthquake at 10:20 a.m. on June 29 in Haixi Prefecture, Qinghai Province (37.81 degrees north latitude, 95.55 degrees east longitude), with a focal depth of 10 kilometers.June 29th - According to reports, Apple is considering using a 1.4nm process in its flagship smartphone SoC as early as 2028, which means that the lifespan of flagship chips manufactured using a 2nm process may only be about two years.On June 29, Nomura Securities issued a report maintaining its "Buy" rating on Lenovo Group (00992.HK). Based on a 20x multiple of its 2027 fiscal year earnings per share forecast, the target price was significantly raised from HK$16 to HK$35, implying a 46% upside. In its previous report on Lenovo published in May, Nomura emphasized that the momentum of its general-purpose server business might far exceed expectations. Although Lenovos share price has risen by more than 100% since May, Nomura believes this outperformance may continue because it believes that: (1) the market has not yet fully reflected the potential of Lenovos server business; (2) Nomuras earnings forecast for fiscal year 2027/28 is now about 10% higher than the market consensus; and (3) Lenovo is currently in the process of revaluation, with its main peer Dell (DELL.N) trading at a 30x one-year forward P/E ratio, which Nomura believes creates room for Lenovos revaluation. The bank raised its 2027/28 fiscal year earnings forecast for Lenovo Group by 12%.The Japanese governments economic policy blueprint shows that its goal is to ensure annual real economic growth of more than 1%.
