[Selected morning news on November 2] 1. According to reporters on November 1, industry insiders revealed that the central bank will convene a meeting with major banks on Monday with the State Administration of Financial Supervision and the China Securities Regulatory Commission to study and optimize stock repurchase, holdings, and re-lending policies. Industry speculation is that this meeting is likely to be the financial management department preparing to further stabilize the market. 2. Reporters learned from relevant channels on November 1 that a large state-owned bank recently plans to add loan quotas for stock repurchases and holdings increase to two central enterprises, China Guoxin and China Chengtong. The new quota for a single company may reach 100 billion yuan. 3. Wu Qing, Secretary and Chairman of the Party Committee of the China Securities Regulatory Commission, presided over the Party Committee (enlarged) meeting on October 30. The meeting called for efforts to stabilize the market and expectations, deepen comprehensive reforms in investment and financing, improve the full-chain supervision system, and continue to enhance the resilience and confidence of the capital market. 4. Pan Gongsheng, Secretary of the Party Committee and Governor of the Central Bank, presided over the Party Committee meeting. The meeting emphasized that we should continue to implement a moderately loose monetary policy and comprehensively use a variety of monetary policy tools to maintain sufficient liquidity. 5. Nvidia recently publicly demonstrated its next-generation co-packaged optics (CPO) technology, called OOI (optics-on-interposer integration). Nikolay Nedovich, chief research scientist at NVIDIA Research Institute, said that this solution uses a larger-area interposer to replace the current organic packaging substrate. NVIDIA has now obtained prototype samples. OOI is still in the research stage and there is no timetable for commercialization. 6. The DeepSeek Harness team published a technical article "Super-agent Design Exploration: Toward a More Autonomous Agent System" on the evening of October 31, releasing a new Agent architecture. 7. The central bank announced that in order to further optimize the short-end interest rate control mechanism, starting from November 2, 2026, bidding for overnight reverse repurchase operations will be conducted every working day, using fixed interest rates and quantity bidding. The current operating interest rate is 1.25%. 8. Data from the National Bureau of Statistics show that in October, the manufacturing purchasing managers index (PMI) was 49.3%, a decrease of 0.8 percentage points from the previous month, and the prosperity level of the manufacturing industry has declined. 9. It is reported that relevant U.S. regulatory agencies have decided to ban all Chinese laboratories from testing smartphones and other U.S. electronic equipment. In response, Foreign Ministry spokesperson Guo Jiakun responded on October 30 that the United States is unreasonably suppressing Chinese companies, and China is firmly opposed and strongly dissatisfied. 10. According to incomplete statistics, as of October 31, nearly 40 A-share listed companies received new investments or increased positions from China Guoxin and China Chengtong in the third quarter. Among them, Guoxin Investment Q3 became the seventh largest shareholder of FiberHome Communications, and China Minmetals Development became the third largest shareholder. Guoxin Hongsheng became the eighth largest shareholder of China Shipbuilding Industry in Q3. 11. As of October 31, 5,224 listed companies on the Shanghai and Shenzhen stock exchanges disclosed their third quarter reports for 2026, and 73% of the listed companies achieved profits. In the first three quarters, companies listed on the Shanghai and Shenzhen stock exchanges achieved operating income of 56.6 trillion yuan and net profit of 5.1 trillion yuan, a year-on-year increase of 5.8% and 8.5% respectively. Both scale and growth rate reached new highs since 2022. 12. Changxin Technology announced that its net profit in the third quarter was 54.4 billion yuan, a year-on-year increase of 3%, a year-on-year increase of 3%, and the sales volume and sales price of DRAM products increased significantly. The company plans to repurchase shares for 1 billion to 2 billion yuan, of which no less than 50% of the actual total repurchase amount will be used for cancellation. 13. ICBC announced that its net profit attributable to the parent company in the third quarter was 111.958 billion yuan, a year-on-year increase of 9.97%. Agricultural Bank of China announced that its net profit in the third quarter was 90.165 billion yuan, a year-on-year increase of 10.84%. Bank of China announced that its net profit attributable to parent companies in the third quarter was 63.888 billion yuan, a year-on-year increase of 6.36%. 14. The net profits of many companies in the third quarter increased significantly month-on-month or year-on-year. Specifically, Yuanjie Technology announced that Q3 net profits increased by 599% year-on-year and decreased by 2% month-on-month. Dongshan Precision announced that Q3 net profit increased by 401% year-on-year and 26% month-on-month. YOFC announced that its net profit in the third quarter increased by 1,742% year-on-year and 31% month-on-month. Muxi Shares announced that Q3 net profit after non-attributed profits increased by 470.37% month-on-month. Cambridge Technology announced that Q3 net profit increased by 213% year-on-year and 106% month-on-month. High-speed optical module business revenue accounted for more than 50%, and it plans to expand optical module production with HK$1.769 billion. Kweichow Moutai announced that its net profit in the third quarter was 19.951 billion yuan, a year-on-year increase of 3.78% and a month-on-month increase of 15%. 15. Some companies’ net profits in the third quarter dropped from the previous quarter, or they suffered losses. Specifically, Sungrow announced that third-quarter net profit fell 68% year-on-year and 54% quarter-on-quarter. LONGi Green Energy announced that its net loss in the third quarter was 1.029 billion yuan, a continued loss from the previous quarter. Yangtze Power announced that its third-quarter net profit fell 23% year-on-year. Huatian Technology announced that Q3 net profit fell 9% year-on-year and 60% month-on-month. BOE A announced a net loss of 996 million yuan in the third quarter, and the shipment of small and medium-sized display products was obviously under pressure. 16. China Microsystems announced that its net profit excluding non-recurring gains and losses in the third quarter was 500 million yuan, a year-on-year increase of 43.77% and a month-on-month decrease of 22.43%. 17. Kexiang Co., Ltd. announced that it plans to invest 2 billion yuan in the construction of high-end AI computing power PCB substrate projects, 3.5 billion yuan in the construction of AI computing power printed circuit board projects, and 3 billion yuan in the construction of AI computing power server projects. TCL Zhonghuan announced that it plans to purchase a minority stake in Zhonghuan Leading Semiconductor Technology Co., Ltd., and the stock is suspended today. Gao Zhengmin announced that it plans to purchase 51% of the equity of Ziyuan Copper and 100% of the equity of Shengyuan Mining. The stocks will resume trading today. BGI Jiutian announced that it plans to acquire no more than 51% of the equity of Qijie Technology to fill the shortcomings of digital logic optimization design EDA tools. 18. Aojing Medical announced that it was suspected of falsely recording financial data such as regular reports, and the company was placed on file by the China Securities Regulatory Commission. 19. According to a reporter from the Science and Technology Innovation Board Daily on October 31, Apple and Alibaba announced a cooperation to integrate Qianwen into Apple smart phones. Chinese users can directly use Qianwen’s text and image understanding, content generation and other capabilities in Siri, writing tools and visual intelligence. These features will be rolled out to Chinese users in December when iOS 27.3 is officially released. 20. BYD announced on the Hong Kong Stock Exchange that sales of new energy vehicles in October were 490,200 units, a year-on-year increase of 11%. 21. U.S. stocks closed sharply lower last Friday, with the Dow Jones Index falling 1.09%, the S&P 500 Index falling 1.82%, and the Nasdaq Composite Index falling 2.86%. Chip stocks suffered heavy losses. The Philadelphia Semiconductor Index fell 7.2%, the largest single-day decline since June. Intel fell 28.58%, the largest single-day decline in more than 40 years. SanDisk fell more than 13%, Qualcomm fell more than 11%, AMD fell more than 10%, ARM fell more than 9%, Seagate Technology, Western Digital, and Applied Materials fell more than 7%. ASML and Ram Research fell more than 6%. TSMC and Broadcom fell more than 5%. 22. It is reported that OpenAI has cut its latest financing target by US$10 billion and is now seeking to raise approximately US$20 billion at a valuation of US$1.25 trillion. 23. It is reported that Trump plans to resume attacks on Iran on the day after the mid-term elections. The United States notified Gulf countries to prepare for an attack as early as November 4. 24. Iran’s Supreme Leader Mujtaba Khamenei issued an order to the senior commanders of the Iranian Armed Forces on October 31, local time. Mujtaba said that effective measures should be taken immediately to deal with enemy threats.