Macro News
He Shaojun, Deputy Director of the Ministry of Commerce's Foreign Trade Department, stated at a State Council Information Office press conference on the 28th that, according to customs statistics, China's exports of AI-related products like industrial robots and 3D printers have shown strong performance in the first half of the year, with year-on-year growth of 18.6% and 109.3% respectively, establishing them as new "name cards" of Chinese foreign trade.
In response to the recent US Section 301 investigation into capacity issues, Lin Weilong, Director of the Ministry of Commerce's Policy Research Office, stated at the same press conference that this is a typical act of unilateralism, severely disrupting the international economic order. China urges the US to correct its erroneous practices and return to the correct path of resolving issues through dialogue and consultation. China will closely monitor the situation's progress and reserves the right to take necessary measures to resolutely defend its legitimate rights and interests.
The People's Bank of China released its statistical report on financial institution loan disbursement for the second quarter of 2026. At the end of Q2 2026, the balance of RMB real estate loans stood at 50.74 trillion yuan, a year-on-year decrease of 4.9%. At the end of Q2, the balance of consumer loans excluding individual housing loans was 20.83 trillion yuan, a year-on-year decrease of 1.7%.
Iran's Deputy Foreign Minister stated, "We have never requested negotiations with the United States, nor have we submitted a ceasefire request to the US." He added that Tehran proposed to Oman that Iran manage one-way shipping traffic on one side of the Strait of Hormuz, while Oman manages the other side.
Discussions between the US and Ukrainian presidents at the White House focused on the production of Patriot interceptor missiles. Trump also held a meeting with Netanyahu, centering on the Iranian nuclear issue.
According to sources in Iran, the US has conveyed a message to Tehran via Oman, promising not to launch an attack.
Industry News
MSCI Inc announced that Changxin Technology will be included in the MSCI China All Shares Index due to its IPO, effective August 10th.
The Shanghai Municipal Party Committee’s Financial and Economic Affairs Commission held a meeting yesterday morning to study work related to building an international consumption center city and promoting the development of future industries during the "15th Five-Year Plan" period. The meeting pointed out that cultivating future industries is crucial for seizing the high ground in technology and industry, developing new quality productive forces, deepening the construction of the "five centers," and enhancing the city's core competitiveness. It emphasized focusing on building an industrial ecosystem to accelerate the development of future industries and continuously achieve new breakthroughs and advantages in frontier and strategically necessary fields.
The Ministry of Finance released data showing that in June, national lottery ticket sales totaled 75.978 billion yuan, an increase of 21.496 billion yuan year-on-year, or 39.5%. This growth was primarily driven by the rise in competitive lottery ticket sales during this year's football World Cup season.
Yesterday afternoon, the trading volume of broad-based ETFs showed a significant increase. By the close of yesterday's trading session, the trading volume of the ChiNext ETF from E Fund reached 127.93 billion yuan, marking another instance above the 100 billion mark since July 21st. The trading volume of the STAR 50 ETF from China Asset Management also reached 109.59 billion yuan. The trading volumes of the CSI 300 ETF from Huatai-PineBridge, the CSI 500 ETF from China Southern, the CSI 1000 ETF from China Southern, and the A500 ETF from Huatai-PineBridge all exceeded 50 billion yuan.
Within just three days, the market saw multiple reports regarding NVIDIA's computing ecosystem transactions, including a potential $50 billion lease in Texas, guaranteeing and financing procurement for OpenAI, and a $5 billion investment in SSI. Market concerns are rising that NVIDIA is deeply integrating the AI computing ecosystem through capital and credit, and this cyclical financing expansion model could trigger chain risks.
According to reports, South Korea's financial regulatory authorities have decided to introduce additional regulatory measures, such as individual investment limits, if the investment frenzy in single-stock leveraged products fails to subside. Authorities are currently focusing on a plan to limit individual leveraged stock investment to within 20% of total financial investment product investment. Statistics previously released by South Korean officials show that, as of July 13th, cumulative forced liquidation for July reached 344.2 billion won (approximately 1.57 billion yuan), with over 1.2 million leveraged retail accounts hitting margin call thresholds.
South Korea is considering investing approximately $19.8 billion to build a liquefied natural gas combined-cycle power plant in Encinal, Texas. This would be South Korea's first investment project in the US under trade agreement commitments.
The Banking Wealth Management Registration and Custody Center released the "China Banking Wealth Management Market Semi-Annual Report (First Half of 2026)" yesterday. The report shows that, as of the end of June 2026, a total of 153 banking institutions and 32 wealth management companies had outstanding wealth management products. The total number of products was 51,200, an increase of 10.58% from the beginning of the year and a year-on-year increase of 22.49%. The outstanding scale was 33.66 trillion yuan, an increase of 1.11% from the beginning of the year and a year-on-year increase of 9.75%.
Company News
BOE A announced that its controlling shareholder, Beijing Electronics Holding Co., plans to increase its holdings of the company's A-shares by 500 million to 1 billion yuan.
Kingsoft Office announced that it expects a net profit attributable to the parent company for the first half of the year of 2.316 billion to 2.719 billion yuan, a year-on-year increase of 210% to 264%.
Hailiang Co., Ltd. announced that its controlling shareholder plans to increase its holdings of the company's shares by 600 million to 1 billion yuan.
Yandong Microelectronics announced that a party acting in concert with its controlling shareholder plans to increase its holdings of the company's shares by 150 million to 300 million yuan.
*ST Energy Saving announced the revocation of the delisting risk warning, and its stock abbreviation will change to "Shenwu Energy Saving".
China State Construction announced the signing of a contract for the Kuwait North Kabd Sewage Treatment Plant and supporting project, with a contract amount of approximately 22.4 billion yuan.
*ST Tianjian announced that its controlling shareholder and a shareholder holding more than 5% of shares plan to transfer 14.77% of the company's shares through a block trade agreement.
Beijing Jiuzhou Yigui Environmental Technology Co., Ltd. announced that its wholly-owned subsidiary plans to invest 630 million yuan to build an advanced semiconductor wafer laser stealth dicing industrialization project.
Wuliangye Yibin Co., Ltd. announced the dismissal of Zhang Xin from the position of Secretary of the Board of Directors and the appointment of Li Jianwei as the new Secretary of the Board of Directors.
Cambricon Technologies announced a plan to propose a restricted stock incentive plan for 5 million shares, with a grant price of 750 yuan per share. The performance assessment target is cumulative revenue of no less than 100 billion yuan for the years 2026-2028.
Zhongji Innolight announced that its chairman has proposed a share buyback of 4 billion to 8 billion yuan.
Global Markets
The three major US stock indexes closed mixed, with the Dow Jones up 1.03%, the S&P 500 up 0.21%, and the Nasdaq down 0.22%. The Philadelphia Semiconductor Index fell 4.49%, and the Roundhill Memory & Storage ETF (DRAM) closed down 8.89%. The optical communication and storage sectors saw significant declines, with Kioxia ADR and SanDisk down over 14%, Corning down over 12%, and Coherent down over 10%. Apple rose nearly 1%, hitting a new high. The Livermore China Concept Stock Index closed down 0.52%. Most major European stock indexes closed higher, with the German DAX 30 index up 0.52%. International crude oil futures settlement prices fell sharply by over 4%. WTI crude oil futures for September delivery closed down 4.06%, and Brent crude oil futures for September delivery closed down 4.83%. COMEX gold futures fell 1.11% to $4,090.4 per ounce. COMEX silver futures fell 2.5% to $57.335 per ounce. Seagate Technology reported Q4 fiscal revenue of $3.65 billion, a year-on-year increase of 48%; analysts expected $3.49 billion. The company expects Q1 fiscal revenue of $4.0 billion to $4.2 billion, compared to analysts' estimate of $3.79 billion. NXP Semiconductors reported Q2 revenue of $3.5 billion, compared to an analyst estimate of $3.46 billion; the company expects Q3 revenue of $3.65 billion to $3.85 billion, compared to an analyst estimate of $3.71 billion.
Investment Opportunity Reference
NVIDIA announced the formation of the Open Safety AI Alliance with multiple tech giants to promote AI safety and security. Founding members include leaders in cloud computing, cybersecurity, enterprise software, open-source foundations, and AI research. As AI technology rapidly deploys across industries, novel AI-native security risks such as prompt injection, model jailbreaks, and training data leakage are becoming increasingly prominent. Recently, Bank of America also raised price targets for four cybersecurity companies: Cloudflare, Palo Alto Networks, SentinelOne, and CrowdStrike. BofA expects each of these companies to maintain revenue growth of around 20% or higher, as the widespread application of AI drives data volume surges, expands attack surfaces, and makes security systems more complex, thereby supporting continuous spending demand across the industry.
Morgan Stanley strategists stated that as more US companies integrate artificial intelligence (AI) into their operations, these companies are expected to achieve higher profit margins in the current earnings season. Morgan Stanley predicts that by 2027, AI applications will drive a cumulative increase of approximately 100 basis points in corporate net profit margins. Central China Securities stated that AI computing power supply and demand are robust, and AI applications are promising for the future. On one hand, global tech giants are increasing capital expenditures for computing infrastructure, establishing a clear upward industry cycle and providing hardware infrastructure support for the large-scale implementation of AI applications. On the other hand, the content industry supply-side changes, market size expansion, and gradual implementation of AI applications driven by the iteration of AI multimodal technology capabilities could become a key driver for the next cyclical growth of the media sector. Related sectors are also expected to see performance improvements and growth, providing support for valuation recovery and upward valuation center adjustment.
Trading Halts and Resumptions
Trading Halt
000820 *ST Energy Saving
Resumption
None
Announcement Express
Hot Topics
Two consecutive daily limit ups for Dongfang Xinneng: The company states it is not involved in tourism, sponge city, or Beijing urban planning related businesses.
Juchen Co., Ltd.: Has resubmitted an application for an H-share listing and trading.
*ST Energy Saving: Will revoke the delisting risk warning from July 30th.
Huadian Power International: Chairman proposes an interim dividend for 2026 of 0.9 yuan per 10 shares.
Qianyuan Power: Chairman proposes an interim dividend for 2026 of 1 yuan per 10 shares.
Ningbo Port: Chairman proposes an interim dividend for 2026 of no less than 30% of distributable profits.
Yuxin New Materials: Actual controller proposes an interim dividend for 2026 of no less than 30% of the first-half net profit.
Haohua Energy: Chairman proposes an interim dividend for 2026 of no less than 20% of the previous year's net profit.
ST Dashen: Plans debt restructuring and signing of a settlement agreement, with expected gains of approximately 56.7021 million yuan.
Luyang Energy-Saving Materials: The indirect controlling shareholder's bankruptcy reorganization process is expected to be completed within approximately 60 days.
Liyang Technology: Plans to issue shares to raise no more than 255 million yuan for investment in AI computing resource pool projects and others.
Sanyou Chemical: The controlling subsidiary plans to acquire a 31% stake in Sanyou New Materials, increasing its shareholding to 51%.
*ST Tianjian: The controlling shareholder and a shareholder plan to transfer a combined 14.77% of the company's shares through a block trade agreement.
Operating Performance
Zhonghong Medical: Expected net profit for the first half of the year is up 2338% to 3557% year-on-year.
Kingsoft Office: Expected net profit for the first half of the year is up 209.98% to 263.89% year-on-year.
Haibo Sichuang: Expected net profit for the first half of the year is up 96.3% to 121.63% year-on-year.
Sanweixin'an: Expected net loss of 12.5616 million yuan for the first half of the year, a year-on-year reduction in loss.
Bio-Thera Solutions: Expected net loss of 230 million to 290 million yuan for the first half of the year.
Liliang Diamond: Net profit for the first half of the year was 90.0816 million yuan, a year-on-year increase of 247.61%.
Hesheng New Materials: Net profit for the first half of the year was 136 million yuan, a year-on-year increase of 40.42%.
Universal Scientific Industrial: Net profit for the first half of the year was 822 million yuan, a year-on-year increase of 28.85%.
Tapai Group: Net profit for the first half of the year was 219 million yuan, a year-on-year decrease of 49.6%.
Shareholding Changes and Buybacks
BOE A: Controlling shareholder plans to increase holdings of company shares by 500 million to 1 billion yuan.
Hailiang Co., Ltd.: Controlling shareholder plans to increase holdings of company shares by 600 million to 1 billion yuan.
Yandong Microelectronics: The controlling subsidiary of the controlling shareholder plans to increase holdings of company shares by 150 million to 300 million yuan.
Zhonghao High-Tech: Controlling shareholder plans to increase holdings of company shares by no less than 30 million yuan.
Guocheng Mining: Plans to repurchase shares for 300 million to 600 million yuan.
Kedali Industry: Plans to repurchase shares for 150 million to 300 million yuan.
Shuangyi Technology: Plans to repurchase shares for 30 million to 50 million yuan.
Chongqing Port: Plans to repurchase shares for 20 million to 30 million yuan, and the indirect controlling shareholder plans to increase holdings.
Vanchip Technology: Plans to repurchase shares for 80 million to 100 million yuan.
Polylet: The actual controller promises not to reduce holdings of company shares for one year.
Dongyi Risheng: Shareholder Tianjin Morning has not yet reduced holdings and has terminated the reduction plan early.
Winning Contracts
China State Construction: Signed contract for Kuwait North Kabd Sewage Treatment Plant project, contract amount approximately 22.4 billion yuan.
Sheng Hui Integrated: Won a major engineering project bid for 858 million yuan.
Other
Beijing Jiuzhou Yigui Environmental Technology Co., Ltd.: Plans to invest no more than 630 million yuan to build an advanced semiconductor wafer laser stealth dicing industrialization project.
Wanma Group: Subsidiary plans to invest in building a 100,000-ton annual capacity cable material boutique factory and a Qingdao submarine cable insulation material project.
Aladdin: Terminates the planned investment and construction of the Aladdin pharmaceutical research reagent innovation R&D and production base project.
Jinpu Titanium: Wholly-owned subsidiary Xuzhou Titanium will temporarily suspend production for rectification.
Dongjian Technology: Has received a refund of US tariffs and interest amounting to $3.3927 million.
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