Next week will be the most intensive week for interim reports of Chinese concept stocks, with Tencent Holdings (August 12, 20:00) and JD.com (August 13, 20:00) leading the release of their Q2 earnings reports. The market will focus on their AI capital expenditure, recovery of the gaming business, and commercialization progress of Video Accounts. On the A-share side, companies such as SMIC (after market close on August 13), Hua Hong Semiconductor, Hygon Information, and Kweichow Moutai will also release their reports. US tech earnings reports will be highly concentrated on the AI infrastructure chain, with leading optical module company Lumentum, AI hashrate leasing company CoreWeave, Super Micro Computer, Cisco, Coherent, and Applied Materials continuously releasing their financial reports, forming a stress test for the entire AI infrastructure chain.