A【October 9th Evening News Selection】
1. The Central Committee of the Communist Party of China and the State Council issued the "Opinions on Developing New Productivity". The opinions deploy 19 key measures, covering five aspects: vigorously promoting technological innovation, promoting the deep integration of technological innovation and industrial innovation, focusing on promoting innovation in development methods, solidly promoting innovation in systems and mechanisms, and deepening innovation in talent work mechanisms.
2. Vice Premier He Lifeng met with European Commission Commissioner for Trade and Economic Security Sefcovic in Beijing on the afternoon of the 9th. The two sides exchanged views on China-EU economic and trade relations. He Lifeng said that China has always attached great importance to developing economic and trade relations with the EU and is willing to work with the EU to implement the important consensus reached by leaders of both sides.
3. Minister of Commerce Wang Wentao co-chaired the second regular meeting of the China-EU Trade and Investment Consultation Mechanism in Beijing with European Commission Trade and Economic Security Commissioner Sevcovic and issued a joint statement. The two sides agreed to continue to maintain communication and consultation on market access issues, gradually promote the resolution of mutual concerns such as medical devices, agricultural and food products, and inverter financing bans, and continue to promote an upward balance in China-EU trade. Both sides agreed to further strengthen the China-EU export control dialogue mechanism, continue to strengthen policy communication, promote the resolution of individual concerns of both parties, and study the possibility of introducing facilitation measures.
4. For the first time in 12 years, the China Securities Regulatory Commission revised and issued the "Measures for the Operation and Management of Publicly Offered Securities Investment Funds (Draft for Comments)", which plans to lower the establishment threshold of equity funds, hybrid funds, and FOF from 200 million yuan to 50 million yuan, and plans to lift the mandatory liquidation line of "200 million yuan in three years" for sponsored funds and level the exit conditions with ordinary funds.
5. The Ministry of Finance released a report on China’s fiscal policy implementation in the first half of 2026, proposing to effectively and effectively implement more proactive fiscal policies to support the all-round expansion of domestic demand.
6. The Ministry of Finance recently arranged to use local government debt balance limit of 550 billion yuan to improve counties and districts’ general public budget security capabilities and support local governments to expand effective investment.
7. According to calculations by the data center of the Ministry of Culture and Tourism, during the seven-day National Day holiday, there were 826 million domestic trips across the country, and the total domestic travel expenditure was 738.375 billion yuan, an increase of 6.3% and 4.3% respectively year-on-year in 2025 on a comparable basis (daily average).
8. As the cost of memory chips has risen sharply, forcing Apple to raise prices and suppressing consumer demand, Apple has asked some suppliers to reduce component production for the newly released iPhone 18 Pro and iPhone 18 Pro Max.
9. Company announcements: ① Tianfu Communications responded to rumors of overseas import and export policy restrictions: Currently, relevant policies do not restrict optical device products and do not affect the company’s business; ② Bohai Leasing: A subsidiary of its holding subsidiary Avolon plans to purchase 140 B737 MAX series aircraft from Boeing The total value does not exceed US$26.953 billion; ③ Guanghe Technology: Net profit is expected to increase by 100%-107% year-on-year in the first three quarters; ④ Jingwang Electronics: Net profit in the third quarter is expected to increase 205%-265% year-on-year; ⑤ Hongfuhan: In the first three quarters Net profit is expected to increase by 108%-145% year-on-year; ⑥ China Jushi: Net profit in the first three quarters is expected to increase by 100%-110% year-on-year; ⑦ Luxshare Precision: No overseas control-related matters have been found to have a significant adverse impact on the company's overall production and operations. A[Overview of U.S. stock market pre-market news: Lumentum said optical component production capacity has been sold out until early 2029; Apple cuts production of iPhone 18 Pro series components due to weak demand; Nvidia may use Intel's Foveros packaging technology] October 9th, the financial news in the U.S. stock market that investors need to focus on is as follows:
1. The three major U.S. stock index futures collectively rose. Dow Jones futures rose 0.14%, S&P 500 futures rose 0.36%, and Nasdaq 100 futures rose 0.73%.
2. International oil prices fluctuated and fell. WTI crude oil futures prices fell 0.55% to US$90.987/barrel; Brent crude oil futures prices fell 1.36% to US$102.864/barrel.
3. International gold and silver spot prices both rose. Spot gold prices rose 1.24% to US$4,184.51 per ounce; spot silver prices rose 2.27% to US$60.49 per ounce.
4. The three major European stock indexes rose across the board. Britain's FTSE 100 index rose 1.12%, France's CAC40 index rose 0.98%, and Germany's DAX30 index rose 1.31%.
5. Hurlston, CEO of U.S. optical communications leader Lumentum, said on Friday local time that the company’s optical device production capacity has been sold out until early 2029.
6. As the cost of memory chips soared, Apple was forced to raise prices, leading to a decline in consumer demand. Apple has told some suppliers to cut component production for its newly launched iPhone 18 Pro and iPhone 18 Pro Max.
7. A report pointed out that Intel’s packaging technology is receiving continued recognition from the market, and Nvidia may adopt Intel’s Foveros chip technology in 2028, when the technology will also be put into mass production.
8. SpaceX announced an agreement to acquire a set of 800MHz low-band spectrum licenses covering the United States to further expand direct-connect satellite and mobile communication services for mobile phones.
9. The Zimbabwean government stated that manufacturers have sufficient preparation time and there is no reason to postpone the lithium concentrate export ban originally scheduled to take effect in January next year. This move is aimed at obtaining higher added value from the country's natural resources.
10. The Japan Meteorological Agency said that the El Niño phenomenon has increased to the strongest on record. The agency predicts that the possibility of the El Niño phenomenon continuing throughout the northern hemisphere winter is 100%, which is consistent with the outlook of the U.S. Climate Prediction Center.
11. UBS said that gold may test the support level of $4,000 in the short term, and a pullback is an opportunity to add positions. UBS predicts that gold prices will reach US$4,600 in December this year and rise to US$5,000 in March 2027. B[Most U.S. AI hardware stocks rose before the market, ASML, Broadcom, and ARM rose more than 2%] On October 9, most U.S. chip stocks rose before the market opened. Lumentum rose 3.81%, Coherent rose 3.52%, ASML rose 2.71%, Arm Holdings rose 2.37%, Broadcom rose 2.10%, Micron Technology rose 2.05%, SanDisk rose 2.05%, and SK Hynix rose 2.22%. Nvidia rose 1.69%, TSMC rose 1.36%, and the Philadelphia Semiconductor Index remained unchanged. A[GEM Index fell more than 3%, computing power hardware led the decline] On October 9, the index weakened, the GEM Index fell more than 3.00%, the Shanghai Stock Exchange Index fell 1.19%, and the Shenzhen Component Index fell 2.39%. Computing hardware, semiconductor chips, medicine and biology, robotics, and military industry were among the top decliners, with nearly 4,400 stocks falling in Shanghai, Shenzhen, and Beijing. A[The GEM Index fell more than 2%, nearly 4,300 stocks fell in the three cities] On October 9, the index weakened, the GEM Index fell more than 2.00%, the Shanghai Index fell 0.73%, and the Shenzhen Component Index fell 1.55%. Computing hardware, semiconductor chips, medicine and biology, robotics, and military industry were among the top decliners, with nearly 4,300 stocks falling in Shanghai, Shenzhen, and Beijing. B[CPO concept rebounded in shock, Liante Technology rose more than 10%] On October 9th, the CPO concept rebounded in early trading, Liante Technology rose more than 10%, Fuxin Technology, Shijia Photonics, Sinopec Technology, Tengjing Technology, Dekeli, etc. followed suit. On the news, a source from Changguang Huaxin Securities told a reporter from the Science and Technology Innovation Board Daily that the "FCC 65%" relevant provisions mentioned in the Morgan Stanley report are informal regulations, and domestic 800G/1.6T optical chips are still in extremely short supply in the short term. A[Bidding to see the leader] On October 9th, market focus stocks Xinhua Media (8 boards) bid at the daily limit, battery industry chain Era Wanheng (4 boards) bid at the daily limit, Zizhu Hi-Tech (3 boards) bid at the daily limit, Chuanyi Technology (3 boards) opened lower by 0.97%, Shanghai Xiba (3 boards) (Board) opened flat, the large consumer sector Joyoung Holdings (4th board) opened 4.00% higher, the M&A and restructured Yuanlin Holdings (3rd board) bid at the daily limit, the real estate sector Lujiazui (2nd board) opened 0.81% higher, and the chip industry chain Industrial Co., Ltd. (2nd board) opened 4.87% higher. A【October 8th Evening News Selection】
1. The spokesperson of the Ministry of Foreign Affairs announced that French President Diplomatic Advisor Bonne will come to China from October 9 to 13 to hold a new round of China-France strategic dialogue with Wang Yi, member of the Political Bureau of the CPC Central Committee and director of the Foreign Affairs Office of the CPC Central Committee.
2. The People's Bank of China issued an article stating that China's trade development is rooted in the improvement of the international competitiveness of its industries. China has no need or intention to gain trade competitiveness through exchange rate depreciation and has never engaged in competitive currency depreciation.
3. According to the Ministry of Industry and Information Technology, in the first eight months of this year, China’s software business revenue exceeded 10 trillion yuan, a year-on-year increase of 8.8%, and the total software industry profit increased by 1.3% year-on-year; software business exports were US$45.99 billion, a year-on-year increase of 12.5%.
4. The Ministry of Human Resources and Social Security issued the "Measures for the Protection of Workers' Rights and Interests in New Employment Forms (Draft for Comment)", which stipulates basic labor rights and interests such as equal employment and free choice of employment, labor remuneration, rewards and punishments, working hours and labor intensity, rest, labor safety and health, protection from severe weather, vocational training, social insurance, personal information protection, collective consultation, etc., and sets the bottom line for labor conditions for workers in new employment forms.
5. Zunjie Auto released a statement stating that the Zunjie braking system has completed the entire process development and verification in accordance with requirements that are higher than national standards (GB 21670-2025 / GB 7258-2026) and higher than industry standards (QC/T 788-2018). In actual usage scenarios, the brake pedal bracket base did not break. The design of this component will be further optimized and free upgrades will be provided to users.
Iranian Foreign Minister Araghchi said that negotiations between Iran and the United States are still continuing. Iran is still evaluating the US response to the proposal to "reopen the Strait of Hormuz within seven days" and will respond within a few days.
6. Company news: ① Dongshan Precision responded to rumors related to optical chip procurement restrictions: some of the optical chips used in the optical module business are self-developed and self-produced, and the overall compliance space is sufficient; ② Xingyun Technology: Q3 net profit is expected to increase by 569%-716% month-on-month. The computing power business, especially the server sales business, has achieved explosive growth; ③ Wavelength Optoelectronics: The company and its chairman were prosecuted for smuggling goods prohibited from import and export by the country; ④ Xiongsu Technology: plans to acquire no more than 80% of the equity of Xinyuan New Materials; ⑤ Jingchen shares: third quarter net profit is expected to increase by 223%-248% year-on-year Preliminary estimates are that this year's revenue is expected to exceed 10 billion yuan; ⑥ Benchuan Intelligent: Net profit in the first three quarters is expected to increase by 190%-335% year-on-year. The revenue share of high-end high value-added PCB products such as high-end multilayer boards and high-end HDI has increased; ⑦ Dongyue Silicon Materials: Net profit in the first three quarters is expected to increase by 19050%-19750% year-on-year. Prices of major products have increased; ⑧ Dieffenbachia: It was clarified that Chairman Ou Xiantao was not involved in the rumors of the China Eastern Airlines flight conflict and has been reported to the police. B[More than 30 positive announcements were issued on the Science and Technology Innovation Board in a single day, and multiple measures were taken to convey development confidence] "Science and Technology Innovation Board Daily" reported on the 8th. A reporter from the "Science and Technology Innovation Board Daily" noticed that today, companies on the Science and Technology Innovation Board intensively disclosed positive announcements, covering multiple categories such as performance forecasts, share repurchases and major orders, releasing positive signals to the market. In terms of performance, chip design company Jingchen Technology released a performance forecast, predicting net profit in the first three quarters of this year to be 1.26 billion to 1.31 billion yuan, a year-on-year increase of 80.58% to 87.74%, showing strong profit growth momentum. Relying on the launch of multiple product lines and the continued expansion of domestic and overseas customers, the company's operating income is initially estimated to exceed 10 billion yuan this year. In terms of repurchases, according to preliminary statistics, more than 30 science and technology innovation board repurchase progress announcements were unveiled tonight, with the total repurchase amount exceeding 3.2 billion yuan. Among them, the cumulative repurchase amount of Tebao Biotech has reached 407 million yuan, and the cumulative repurchase amount of Canadian Solar is 365 million yuan. The repurchases of listed companies with "real money" fully demonstrate their firm confidence in their own value. In addition, Wasion Information and Wanders respectively disclosed recent project bidding results, providing strong support for subsequent performance. (Kechuangban Daily reporter Zeng Le) B[Changguang Huaxin: Morgan Stanley related reports informal regulations domestic 800G/1.6T optical chips are still in extreme short supply in the short term] "Science and Technology Innovation Board Daily" reported on the 8th, regarding the "FCC 65%" related clauses mentioned in Morgan Stanley's report, and the impact that the company's stock price may have today, a person from Changguang Huaxin Securities Department told the "Science and Technology Innovation Board Daily" reporter that the report is a policy scenario deduction report, not an officially implemented regulation or clause, but just "one family's words." Secondly, the optical module and its materials involved in the report are 3.2T, but the domestic 3.2T industry is currently in its infancy, and it is not expected to be large-scale until 2028-2029. The main products shipped this year and next are still 800G/1.6T. Products with these two speeds are still in extremely short supply, and domestic optical chips will still grow rapidly in the short term.
He believes that the global AI industry chain is deeply interactive. Even if the global geopolitical game will have an impact, industries are not "decoupled if they want to". Finally, he said that domestic manufacturers will also make arrangements for relevant situations in advance, such as building factories overseas. (Kechuangban Daily reporter Huang Xiumei) A[The GEM Index fell more than 3% and the Science and Technology Innovation 50 Index fell nearly 4.5%] On October 8, the index weakened, the GEM Index fell more than 3.00%, the Science and Technology Innovation 50 Index fell nearly 4.5%; the Shanghai Index fell 0.75%, and the Shenzhen Component Index fell 1.87%. Pharmaceutical biology, semiconductor chips, computing hardware, and robotics were among the top decliners, with nearly 3,600 stocks falling in Shanghai, Shenzhen, and Beijing.
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