B[*ST Infineon: Signed a Reorganization Investment Agreement with Reorganization Investors] On September 17, *ST Infineon (002528.SZ) announced that the company signed a "Reorganization Investment Agreement" with 6 reorganization investors including China Science Holdings. The reorganization investors will subscribe for converted shares at 2.61 yuan per share, with a total investment of approximately 2.841 billion yuan. Among them, Guoke Holdings, as the lead investor, will gain control of the company. The investment funds from this restructuring are planned to be used to pay off debts, supplement working capital, etc., and strive to achieve an overall repayment rate of 80% of ordinary claims. The company reminded that there is still uncertainty about whether it can enter the reorganization process. If the reorganization fails, the company's shares will face the risk of being terminated from listing. Guoke Holdings is an industrial holding platform deeply involved in the field of integrated circuits. It has built a semiconductor manufacturing industry ecosystem with Hunan Guoke Microelectronics Co., Ltd. as the core, covering chip design, semiconductor materials, packaging and testing and other aspects. B[Analysis of listed stocks on September 16: The promotion rate of listed stocks exceeds 40%, Mindong Electric Power advanced to 6 consecutive boards] A total of 89 stocks hit the daily limit today, and the total number of listed stocks is 12, including 3 stocks with three consecutive boards or above. On the previous trading day, there were a total of 7 stocks listed on continuous boards, and the promotion rate of listed stocks was 42.85% (excluding ST shares and delisted stocks). In terms of individual stocks, more than 4,100 stocks in the market rose, and more than 100 stocks rose by their daily limit or by more than 10%. However, most of the old cycle high stocks still had severe negative feedback. Guofang Group and Guilin Tourism fell by the limit for two consecutive times, Sino-Singapore fell by the limit, Longban Media fell by more than 9%, and Jinjian Rice Industry fell by more than 7%. Mindong Electric Power exceeded expectations and advanced to the 6th consecutive board, which led to the speculation of a new theme-Fujian local stocks, with Pingtan Development, Zhangzhou Development, Fujian Jinsen and other stocks rising to the limit. In addition, Bohui Technology stepped out of the 20cm3 board, which to a certain extent stimulated the enthusiasm of funds for mass entrepreneurship and innovation stocks. In terms of sectors, computing power hardware stocks strengthened across the board, PCB concept stocks Aohong Electronics 4-link board, Xilong Science 2-link board, Beizi Technology 2-link board, optical communication concept stocks Tongding Internet 2-link board, Rhema Precision 3-day 2-link board, Yuanwang Valley 4-day 2-link board, semiconductor material concept stocks Zhongjing Technology 2-link board, Del Future 2-link board. A[Review: The Science and Technology Innovation 50 Index rebounded from shocks and rose by more than 4%, and more than 4,100 stocks in the market rose] On September 16, the market rebounded from shocks, with the GEM Index rising by nearly 2%, and the Shenzhen Component Index rising by more than 1%. The turnover of Shanghai and Shenzhen stock markets was 1.84 trillion, which was 226.4 billion higher than the previous trading day. More than 4,100 stocks across the market rose. On the market, hot spots rotated rapidly, and the concept of computing power hardware fluctuated and rose. PCB Aohong Electronics 4-connected board, Ruifeng High-tech, Zhongyan Dadi, and Weigao hit the limit; the optical fiber concept was active, Huamai Technology, and Yongding shares hit the limit; CPO Dongtian rose slightly by more than 14% hit a record high, with Guangxun Technology and Tsingshan Paper hitting their daily limit; liquid-cooled servers Taifu Pump Industry and Xinghui Shares both hit their daily limit of 20CM; the semiconductor materials sector strengthened during the session, with Zhongjing Technology 2-Link, Leon Micro, Youyan Silicon, and Youyan New Materials hitting their daily limit. In terms of decline, the construction machinery sector was weak, with Sany Heavy Industry, Shantui Co., Ltd., Liugong, Hengli Hydraulics, etc. all falling. As of the close, the Shanghai Stock Exchange Index rose 0.71%, the Shenzhen Component Index rose 1.26%, and the ChiNext Index rose 1.96%. A[Afternoon Commentary: The Science and Technology Innovation 50 Index rose 4.5% in half a day, and the computing hardware and semiconductor industry chains collectively strengthened] On September 16, the market fluctuated and rebounded in early trading, with the GEM index rising by more than 2%. The half-day turnover of the Shanghai and Shenzhen stock markets was 1.17 trillion, 108.2 billion higher than the previous trading day. More than 4,200 stocks across the market rose. On the market, hot spots rotated rapidly, and the computing power hardware concept fluctuated and rose. PCB Aohong Electronics 4-link board, Zhongyan Dadi and Weigao hit the daily limit; fiber optic concepts were active, Huamai Technology and Yongding shares hit the daily limit; CPO Dongtian slightly increased by more than 10% to hit a record high, Guangxun Technology hit the daily limit; the semiconductor materials sector strengthened during the session, Zhongjing Technology 2-link board, Youyan Silicon and Youyan New Materials hit the limit. On the downside, the construction machinery sector fluctuated and adjusted, with Sany Heavy Industry approaching its daily limit, and Shantui Co., Ltd., Liugong, and Hengli Hydraulics following the decline. As of the close, the Shanghai Stock Exchange Index rose 0.57%, the Shenzhen Component Index rose 1.42%, and the ChiNext Index rose 2.35%. B[Semiconductor materials sector fluctuated and strengthened, Youyan Silicon rose more than 10%] On September 16th, the semiconductor materials sector fluctuated and strengthened during the session, and Youyan Silicon rose more than 10%. Previously, Zhongjing Technology had two consecutive boards, Tianyue Advanced, Shanghai Hejing, Youyan New Materials, Leading Base, and Shengong Shares followed suit. On the news, CITIC Securities predicts that heavy-doped silicon wafers, which are in relatively short supply, are expected to continue to rise in the second half of the year, and relevant companies may increase next year's long-term contract prices from September to October. This means that the price increase cycle will continue until at least 2027. A[More than a dozen A-share listed companies disclosed the latest announcements on mergers, acquisitions and restructuring this week Shengong Co., Ltd. intends to wholly own the semiconductor materials company Fujian Seiko] September 6th, according to incomplete statistics, as of press time, this week (August 31-September 6), 13 A-share listed companies including Sihuan Biology, Shengong Co., Ltd., Youyan Silicon, Shengtun Mining, Youcai Resources, Gansu Nenghua, Huafeng Chemical, Jinzhong Co., Ltd., Agricultural Products, Shaanxi State Investment A, Sichuan Jiuzhou, Xiangshan Co., Ltd., and Guizhou Gas have disclosed the latest announcements on the progress of mergers and acquisitions. Among them, Zhongjingxin, a wholly-owned subsidiary of Shengong Co., Ltd., plans to acquire 20.0002% equity of its holding subsidiary Fujian Precision Industry for RMB 195 million. After the acquisition is completed, Fujian Precision Industry will become a wholly-owned subsidiary of Zhongjingxin Technology. A[September 4 morning news selection]
1. Huang Ling, spokesperson of the Ministry of Commerce, said at a regular press conference held on the 3rd that the United States has repeatedly sanctioned Chinese companies and citizens on the grounds of involvement in Iran, despite China’s repeated representations. China is strongly dissatisfied with this and firmly opposes it. China urges the United States to immediately correct its wrongdoings and lift sanctions on relevant Chinese companies and citizens. China will firmly safeguard the legitimate rights and interests of our companies and citizens.
2. Ten departments including the Ministry of Industry and Information Technology issued the "15th Five-Year Plan for Promoting the Development of Small and Medium-sized Enterprises", which proposed that by 2030, the per capita operating income of small and medium-sized enterprises above designated size will increase by about 15% cumulatively; vigorously develop venture capital, and establish the second phase of the National Small and Medium-sized Enterprise Development Fund to drive social capital to invest in early, small, long-term, and hard technologies.
3. Shenzhen Securities Information Co., Ltd. is scheduled to release the GEM Chip Index on September 4. The GEM Chip Index (code 970096) selects the top 50 GEM stocks with average daily total market capitalization in the past six months as index samples among the GEM stocks whose companies are involved in chip-related fields such as semiconductor materials and equipment, chip design, chip manufacturing, chip packaging and testing.
4. At the "2026 World Power Battery Conference" held yesterday, the Equipment Industry Development Center of the Ministry of Industry and Information Technology released the "Power Battery Industry Development Index (2026)". Qu Guochun, director of the Equipment Industry Development Center, said that in the medium to long term, sodium batteries will replace some low-end lithium batteries, and the popularity of all-solid-state batteries depends on cost control in the industry chain.
5. We learned from a number of pharmaceutical companies that the 2026 national basic medical insurance drug catalog negotiation and bidding and the commercial insurance innovative drug catalog price negotiation will be launched on September 5 at the National People's Congress Conference Center.
6. Many banks have expressed that the "lender's age + loan term" should not exceed the threshold of 75 years. This also means that if this standard is followed, borrowers born before 1991 will no longer be able to apply for a 40-year personal mortgage loan when they apply for a new mortgage.
7. The IPO review status of Yangtze Memory Holdings Co., Ltd.’s initial public offering of shares and listing on the Science and Technology Innovation Board was changed to “inquiry”.
8. TSMC executives said that there are close to 20 wafer factories under construction around the world, and TSMC’s demand for chip manufacturing tools has almost doubled since the end of last year, a rate not seen in 30 years.
9. Xingyun Technology announced that it has signed a computing power leasing agreement worth 922 million yuan. Changdian Technology announced that it plans to raise no more than 6.5 billion yuan in additional capital for high-performance computing high-end advanced packaging platform expansion projects. Jingzhida announced that it recently signed a 1.576 billion yuan semiconductor testing equipment purchase agreement with a customer.
10. Jinlong Shares announced that it has reached preliminary intention to transfer 20% of Dongguan Securities shares.
11. Montage Technology announced that CXL3.2 chip will be imported into Samsung SK Hynix and PCIeSwitch will be taped out within the year.
12. Fosu Technology announced that it plans to invest 7.158 billion yuan to build two green high-end separator projects.
13. 4-Day 3-Board Jindi Co., Ltd. announced that the two liquid cooling projects of its subsidiary have not yet formed mass production capabilities, and no formal orders or agreements have yet been formed.
14. The three major U.S. stock indexes collectively closed higher, with the Dow Jones Industrial Average rising 1.18%, the Nasdaq Composite Index rising 1.4%, and the S&P 500 Index rising 1.06%. Cryptocurrency concept stocks and gold mining stocks strengthened; Tesla rose by more than 5%, and SpaceX rose by more than 6%.
15. Fed Governor Waller said that the CPI and PPI are expected to be "at reasonable levels" next month; the current interest rate setting can bring the United States back to the 2% inflation level; to give inflation a chance to fall back, we can wait for an interest rate meeting before making a decision.
16. Ukrainian President Zelensky said that the United States has confirmed that it will hold talks in Moscow and Kiev respectively, and Ukraine expects that the talks in Kiev will be held in the near future.
17. U.S. mortgage interest rates climbed to 6.71%, the highest level since July 2025.
18. According to data from the American Association of Investment Companies, the size of U.S. money market funds hit a record high of $7.98 trillion.
19. NVIDIA announced that the NVIDIA Rtx Spark Windows PC will be available in October 2026.
20. Volkswagen said that a survey as the basis for its 2030 strategic plan showed that the company will adjust its employee size within the group, involving the reduction of approximately 50,000 positions. A[Morning News Selection on August 31st]
1. The People's Bank of China and the State Administration of Financial Supervision jointly issued the "Opinions on Reforming and Improving Real Estate Credit Management and Promoting the Acceleration of the Construction of a New Real Estate Development Model". Regarding personal housing loan policies, there are these changes: 1. The maximum term of personal housing loans is extended to 40 years; 2. Existing floating-rate mortgages can negotiate interest rate adjustments or loan replacements; 3. Personal housing loan issuance timing requirements; 4. Repayment difficulties can be negotiated to adjust the repayment plan.
2. The China Securities Regulatory Commission has formulated the "Opinions on Capital Market Support for the Construction of a New Real Estate Development Model" to support the refinancing of listed real estate companies and the comprehensive use of issuance of shares, directional convertible bonds, cash and other tools to acquire real estate-related assets.
3. The Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission issued an announcement on regulating individual income tax policies for the transfer of restricted shares of listed companies. It is proposed that the income obtained by individuals from the transfer of restricted shares of listed companies shall be subject to personal income tax at a tax rate of 20% as "income from property transfer".
4. The Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, and the State Administration of Financial Supervision jointly issued the "Notice on Improving the Commercial Housing Sales System". The "Notice" clarifies that all localities must vigorously and orderly promote the sales of existing commercial housing to achieve "what you see is what you get", fundamentally prevent delivery risks, and safeguard the legitimate rights and interests of home buyers.
5. Liu Liehong, director of the National Data Administration, said at the 2026 China International Big Data Industry Expo that it is necessary to study and explore business models such as word value-added subscription and pay-for-performance based on major national economic scenarios.
6. According to the National Data Administration, more than 20 computing power dispatching entities have officially settled in the national integrated computing power network monitoring and dispatching test verification platform to comprehensively improve computing power dispatching operation service capabilities. According to reports, the National Integrated Computing Power Network, as one of the "Six Networks", is a major project proposed in the "15th Five-Year Plan".
7. Kingboard Laminated Board, a copper-clad laminate manufacturer, has raised prices for the seventh time this year, with a uniform price increase of 10% for all thickness FR-4 copper-clad laminates; PP prepreg prices have been adjusted according to specifications, with thick cloth PP above 7628 (inclusive) increasing by 10%, and thin cloth PP below 7628 increasing by 20%.
8. It was learned from the Space Application Engineering and Technology Center of the Chinese Academy of Sciences that China recently made an important breakthrough in the Earth-Moon laser communication test mission, successfully establishing a two-way laser link over a distance of more than 400,000 kilometers from the Earth and the Moon, and achieving two-way high-speed laser communication between the Earth and the Moon for the first time.
9. Changxin Storage announced that Changxin LPDDR6 memory has been officially mass-produced, and Xiaomi 18 Fold new folding flagship mobile phone will be launched for the first time.
10. Changxin Technology announced that in the first half of the year, it achieved operating income of 150.31 billion yuan, a year-on-year increase of 873.64%; the net profit attributable to shareholders of listed companies was 77.605 billion yuan, turning losses into profits year-on-year. The company said that looking forward to the second half of 2026, the global supply shortage of DRAM products will continue.
11. BYD’s revenue in the first half of the year was 344.82 billion yuan, a year-on-year decrease of 7.13%; its net profit in the first half of the year was 12.33 billion yuan, a year-on-year decrease of 20.5%.
12. Wuliangye announced that in the first half of the year, it achieved operating income of 28.417 billion yuan, a year-on-year increase of 20.87%; net profit attributable to shareholders of listed companies was 8.753 billion yuan, a year-on-year increase of 89.3%.
13. PetroChina achieved operating income of 1,527.491 billion yuan in the first half of the year, a year-on-year increase of 5.3%; net profit attributable to shareholders of the parent company was 103.936 billion yuan, a year-on-year increase of 22.0%.
14. Ganfeng Lithium Industry announced that in the first half of the year, it achieved operating income of 23.097 billion yuan, a year-on-year increase of 175.75%; the net profit attributable to shareholders of the listed company was 4.257 billion yuan, turning a loss into a profit year-on-year.
15. Walter Gas announced that it plans to raise no more than 700 million yuan for the construction project of Jiangsu Walter’s semiconductor material production base. Youyan Silicon announced that it plans to acquire the equity interests of Shandong Youyan Ace and Shandong Youyan Semiconductor, which is expected to constitute a major asset reorganization.
16. Zhongjian Technology announced that it plans to invest 1.2 billion yuan to build an intelligent robot industrialization project. Shengyi Electronics announced that its wholly-owned subsidiary plans to invest 2.257 billion yuan to build the "Core Computer Intelligent Link" high-speed interconnection circuit board manufacturing project.
17. 2nd Lianban Xiangjiang Holdings announced that its wholly-owned subsidiary signed a computing power technology service contract of no more than 970 million yuan. Haixing Shares announced that it plans to raise no more than 2.1 billion yuan in additional capital for high-performance high-voltage electrode foil projects for AI computing power supplies.
18. LONGi Green Energy achieved operating income of 27.045 billion yuan in the first half of the year, a year-on-year decrease of 17.58%; the net profit attributable to shareholders of the listed company was a loss of 3.684 billion yuan.
19. Huazheng New Materials’ net profit attributable to shareholders of listed companies in the first half of the year was 173 million yuan, a year-on-year increase of 305.28%. Inspur Information announced that the net profit attributable to shareholders of listed companies in the first half of the year was 2.952 billion yuan, a year-on-year increase of 269.59%.
20. *ST Yuandao announced that the stock will be suspended from trading on August 31 due to forced delisting due to major violations of the law. Wanlishi announced that the company and the actual controller were placed on file by the China Securities Regulatory Commission for suspected violations of information disclosure.
21. The three major U.S. stock indexes closed collectively lower on Friday, with the Dow Jones Industrial Average falling 0.02%, the Nasdaq Composite Index falling 0.52%, and the S&P 500 Index falling 0.25%. That week, the Dow rose 0.53%, the Nasdaq rose 0.85%, and the S&P 500 rose 0.49%.
22. Federal Reserve Chairman Warsh said that inflation data did not show a significant improvement in inflation trends; if the inflation rate cannot reach 2% quickly, there is still work to be done.
23. Iran’s Islamic Revolutionary Guard Corps announced on social media in the early morning of the 31st that Iran launched missiles at a US military base. Earlier, explosions were heard near Iran's Larak Island.
24. Iranian President Pezhechiyan said that Iran is currently working hard to ensure that if the Strait of Hormuz is reopened under a specific framework, the United States must also fulfill its obligations.
25. “Big Short” Michael Burry posted that he was shorting Nvidia, but he also bought call options on Nvidia. He believes that Nvidia's monopoly position will last only a limited time and profit margins will decline in the future.
26. Anthropic plans to publish its IPO prospectus after September 7 and may be listed in the United States in late September or early October. According to reports, the company hopes to raise at least US$130 billion in the IPO to expand its computing power.
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