B[The number of companies with a market value of tens of billions in the North Exchange has increased to 8] On September 2, data showed that as of now, the number of listed companies on the North Exchange has reached 339, and the total market value has increased from about 300 billion yuan at the beginning of the market to about 840 billion yuan, and the number of companies with a market value of 10 billion has increased from 4 to 8. The average daily trading volume of the Beijing Stock Exchange has increased from less than 1 billion yuan at the beginning of the market to about 20 billion yuan currently. At present, more than 60% of the companies listed on the Beijing Stock Exchange have become national-level specialized and special new "little giant" enterprises, distributed in industrial chain segments such as robotics, new energy, aerospace, semiconductors, and automobiles. Over the past five years, the Beijing Exchange has provided a total of approximately 80 billion yuan in financing for small and medium-sized enterprises, with an average of approximately 200 million yuan per company. More than 80% of the funds raised have been invested in green and low-carbon, digital economy, high-end equipment manufacturing, new materials and other fields. (CCTV Finance) B[The China Association of Automobile Manufacturers held a special symposium and exchange meeting on Sino-Spanish new energy vehicle industry cooperation in Beijing] On September 2, the China Association of Automobile Manufacturers held a special symposium and exchange meeting in Beijing, organizing representatives of car companies and the third deputy speaker of the Spanish House of Representatives, Ms. Esther Gil de Reboleño, and her party to conduct exchanges on Sino-Spanish new energy vehicle industry cooperation. Relevant leaders from the International Department of the Central Committee of the Communist Party of China attended the meeting. At the symposium, the International Department of the CPC Central Committee introduced the background of the delegation’s visit to China; the delegation introduced the comprehensive advantages of Cadiz, Spain, including its location, ports, land, industry and supporting services, and expressed its willingness to welcome Chinese companies to invest and carry out all-round cooperation; the China Association of Automobile Manufacturers shared the development of China’s new energy vehicle industry; representatives of car companies made exchanges and speeches focusing on the company’s international layout and cooperation intentions with Spain. The two parties conducted in-depth discussions on Spanish industrial policies, investment environment and cooperation opportunities. B[National Energy Administration: Accelerate the research and development and application of new power grid technologies such as artificial intelligence+, flexible network construction, intelligent regulation, and long-term energy storage to develop new productivity] September 2nd, the National Energy Administration held a new power grid construction work deployment meeting on September 1st. The meeting emphasized that during the "15th Five-Year Plan" period, China's electricity demand will still maintain an average annual growth of about 5%, the proportion of new energy will further increase, the demand for green and high-quality electricity from high-end industries will grow steadily, new models and new business forms will emerge at an accelerated pace, and competition in core technologies will intensify, putting forward higher requirements for the construction of new power grids. The construction of new power grids is a profound change in new architecture, new technologies, and new services, which requires overall planning and systematic implementation of policies. The first is to focus on consolidating the longboards of infrastructure and building a new architecture for main distribution and micro-collaborative power grids that improves the security and stability of large power grids, gives full play to the role of a public platform for distribution grids, and promotes flexible and diverse interactions in smart microgrids. The second is to strive to play the leading role of innovation, accelerate the research and development and application of new power grid technologies such as artificial intelligence +, flexible network construction, intelligent regulation, and long-term energy storage, and develop new quality productivity.
The third is to focus on strengthening multiple support guarantees and upgrading new energy grid services that are friendly and adaptable to new formats such as efficient grid connection and consumption of new energy, high-quality power supply, and computing and power coordination, so as to better meet the needs of industrial development and the people. The fourth is to focus on keeping the bottom line of safe operation, ensuring the safe and stable operation of large power grids, strengthening project safety and quality management, improving the power grid's disaster prevention and emergency response capabilities, and enhancing safety resilience. B[The National Energy Administration held a new power grid construction work deployment meeting] On September 1, the National Energy Administration held a new power grid construction work deployment meeting. The meeting emphasized that during the "15th Five-Year Plan" period, China's electricity demand will still maintain an average annual growth of about 5%, the proportion of new energy will further increase, the demand for green and high-quality electricity from high-end industries will grow steadily, new models and new business forms will emerge at an accelerated pace, and competition in core technologies will intensify, putting forward higher requirements for the construction of new power grids. The construction of new power grids is a profound change in new architecture, new technologies, and new services, which requires overall planning and systematic implementation of policies. The first is to focus on consolidating the longboards of infrastructure and building a new architecture for main distribution and micro-collaborative power grids that improves the security and stability of large power grids, gives full play to the role of a public platform for distribution grids, and promotes flexible and diverse interactions in smart microgrids. The second is to strive to play the leading role of innovation, accelerate the research and development and application of new power grid technologies such as artificial intelligence +, flexible network construction, intelligent regulation, and long-term energy storage, and develop new quality productivity.
The third is to focus on strengthening multiple support guarantees and upgrading new energy grid services that are friendly and adaptable to new formats such as efficient grid connection and consumption of new energy, high-quality power supply, and computing and power coordination, so as to better meet the needs of industrial development and the people. The fourth is to focus on keeping the bottom line of safe operation, ensuring the safe and stable operation of large power grids, strengthening project safety and quality management, improving the power grid's disaster prevention and emergency response capabilities, and enhancing safety resilience.
The meeting pointed out that the construction of new power grids is connected to the construction of upstream projects such as new energy power generation, and to the electricity consumption of downstream industrial, commercial, residential and other users. It drives strong correlation effects and huge investment scale, and plays an important supporting role in current investment promotion and long-term structural adjustment. The first is to speed up the approval and construction of major power grid projects such as transmission channels. Power grid enterprises must promote project construction in a lean manner and give full play to the driving role of major project investment, and local energy authorities must speed up the processing of various support requirements. The second is to do a good job in overall planning and promotion of new power grid construction. Local energy authorities should sort out the province's new power grid projects and task lists, consolidate responsibilities at all levels, and guide local power grid enterprises to increase the construction of the province's main power grid and distribution network projects. The third is to increase policy support and implementation efforts. The National Energy Administration will work with relevant ministries and local energy authorities to give full play to the role of regular monitoring, dispatching and docking working mechanisms for key energy projects, and coordinate to solve major problems in project implementation.
Support the majority of private enterprises to actively invest in new power grid construction and share new opportunities and new dividends. B[Li Lecheng met with a delegation from the Board of Directors of the U.S.-China Business Council] September 1, according to the Ministry of Industry and Information Technology, on September 1, Minister of Industry and Information Technology Li Lecheng met in Beijing with a delegation led by John McCain, Chairman of the Board of Directors of the U.S.-China Business Council. The two sides exchanged views on strengthening cooperation in the fields of new energy vehicles, information technology, artificial intelligence, medicine and health.
Li Lecheng said that President Xi Jinping and President Trump jointly determined the new positioning of "China-US constructive strategic and stable relationship" and provided important strategic guidance for China-US relations in the next stage. The Ministry of Industry and Information Technology is willing to work with the United States to implement the consensus reached at the meeting between the two heads of state, strengthen practical cooperation, and create more solid support for the development of bilateral relations. It is hoped that the U.S.-China Business Council will continue to serve as a bridge of communication and dialogue between the two countries and create good conditions for the healthy development of Sino-U.S. industrial cooperation and economic and trade exchanges. We also welcome more U.S.-funded companies to strengthen their confidence in developing in China, continue to deeply explore the Chinese market, give full play to their own advantages, deepen industrial chain and supply chain cooperation, and achieve mutual benefit and win-win results.
McCain thanked the Ministry of Industry and Information Technology for its long-term support for U.S.-funded companies doing business in China, and said that he would actively guide member companies to continue to expand cooperation with China and make greater efforts to promote Sino-U.S. economic and trade cooperation.
The heads of relevant departments and bureaus of the Ministry of Industry and Information Technology attended the meeting. B[2-connected board Jitai Co., Ltd.: Liquid-cooled silicone oil is currently in the critical verification stage before commercial application and has not yet formed large-scale orders and sales revenue] On September 1, Jitai Co., Ltd. (002909.SZ) announced abnormal fluctuations in stock trading. In the first half of 2026, the company's overall sales revenue from the new energy field business was 28.4545 million yuan, accounting for 5.88% of the company's operating revenue, which is a low proportion. The operating conditions of this business are affected by factors such as changes in downstream industry policies and market demand, market competition, customer verification progress, etc. There is uncertainty in future business development and its impact on the company's operating performance. The company's liquid cooling silicone oil is currently in the critical verification stage before commercial application. It has not yet formed large-scale orders and sales revenue, and has not had a significant impact on the company's current operating performance. There are uncertainties in the verification cycle and results of related products, subsequent order acquisition and large-scale sales. B[Sales: New energy vehicle sales in August were 24,244 units 43.96% year-on-year decrease] On September 1, Cyrus announced that in August 2026, the production of new energy vehicles was 24,742 vehicles, a year-on-year decrease of 42.55%; the sales volume was 24,244 vehicles, a year-on-year decrease of 43.96%; the cumulative output this year was 229,700 vehicles, a cumulative year-on-year decrease of 13.22%; the cumulative sales volume was 227,300 vehicles, a cumulative year-on-year decrease of 12.58%. B[Chery Group sold 280,000 vehicles in August, a year-on-year increase of 15.4%] September 1, according to Chery Group news, in August 2026, Chery Group sold 280,128 vehicles, a year-on-year increase of 15.4%. Among them, the group exported 196,984 vehicles, a year-on-year increase of 52.1%; the group sold 120,909 new energy vehicles, a year-on-year increase of 69.8%, exceeding 100,000 vehicles for five consecutive months. B[Zhonghuan New Energy’s revenue in the first half of 2026 increased by 56.3% year-on-year, accounting for nearly 20% of AI computing power business] On September 1, Central New Energy (01735)’s 2026 interim results showed that it achieved revenue of approximately HK$6.33 billion in the first half of the year, a year-on-year increase of 56.3%; gross profit was approximately 130 million yuan, a year-on-year increase of 50.0%. The income structure has undergone a qualitative change. As the second growth curve, the AI computing power business has soared to 1.047 billion yuan in revenue during the period, accounting for nearly 20%. This marks that the company's growth logic is evolving towards a "new energy + AI + computing power" compound growth model. Relying on the clean power base of photovoltaics and energy storage, Zhonghuan New Energy has extended its business upwards to AI data centers and computing centers, and further deployed AI Token factories to make bidirectional efforts in the field of AI software and hardware. From green electricity production to computing power empowerment, the company has risen to become a "clean smart energy leader" with comprehensive capabilities in AI underlying energy infrastructure construction and upper-level strategic planning. Based on a series of layouts, Zhonghuan New Energy will build irreplaceable competitive advantages in key areas of the AI industry chain. A[Ministry of Commerce and other 7 departments: Accelerate the removal of unreasonable restrictive measures in the field of automobile circulation and consumption and expand automobile consumption throughout the chain] On August 31, seven departments including the Ministry of Commerce issued implementation opinions on promoting the expansion and upgrading of commodity consumption. It pointed out that the pilot reform of automobile circulation and consumption should be further promoted, the elimination of unreasonable restrictive measures in the field of automobile circulation and consumption should be accelerated, the automobile usage management model should be innovated, and automobile consumption should be expanded throughout the chain. Promote relevant regions to optimize car purchase restrictions to better meet residents’ car purchase needs. Cultivate and expand the automobile aftermarket, support the development of automobile modification, repair and maintenance, sports events, and RV camping, and establish a traditional classic car identification and management system. Improve the information sharing mechanism between departments and establish an information exchange system covering the entire life cycle of automobiles, including automobile sales, registration, maintenance, insurance, and scrapping. Improve the second-hand car circulation management system, promote the mutual recognition of unified invoices for second-hand car sales, and implement hierarchical and classified management of second-hand car business entities. Implement three-year actions to promote the high-quality development of small and micro bus rentals and improve the quality and efficiency of rental services.
Improve the scrapped motor vehicle recycling system and strengthen the qualification certification management of scrapped recycling and dismantling enterprises. Improve the construction of new energy vehicle energy replenishment infrastructure along highways and transportation hubs, and promote balanced coverage of public charging piles, urban parking lots and other facilities to match supply and demand. Promote the quality improvement and upgrading of highway service areas, carry out work such as the renovation of charging facilities and the aging-friendly renovation of public restrooms, and create a number of high-standard car stations and consumer clusters along transportation lines. A[New version of mandatory national standards involving new energy, smart driving, etc. operational safety released] On August 31, the State Administration for Market Regulation (National Standards Administration) approved the release of the "Technical Conditions for Motor Vehicle Operation Safety" (GB 7258-2026) mandatory national standard. The new version of the standard will be implemented from July 1, 2027. The first is to improve the intrinsic safety of large and medium-sized passenger trucks. Expand the range of models equipped with automatic emergency braking, electronic stability control, and electronically controlled braking systems, and add requirements for tire pressure monitoring and lane departure warning systems to reduce safety risks such as vehicle rollover and brake failure. The second is to standardize the safety requirements for the application of new technologies such as new energy and smart driving. Standardize the requirements for "single-pedal" braking, virtual control parts, in-vehicle entertainment system applications, and new energy vehicle start-up acceleration performance, power cutoff function after collision, etc. It is added that new energy passenger vehicles should have the function of inhibiting accidental pedal depression and acceleration, and it is proposed that vehicles equipped with combined driving assistance systems should have functional requirements such as activation condition confirmation, hand-eye separation detection and operation abnormality detection. The third is to improve the safety technical requirements for vehicle registration management.
Further tighten the requirements for vehicle identification number engraving and the structure of the cargo area, and increase the space requirements for enlarging the license plate number and the safety technical requirements for special motor vehicles and wheeled special mechanical vehicles. The fourth is to increase the technical requirements for safety risk prevention of typical vehicle accidents. In response to problems such as large vehicle blind spots, driver fatigue, low occupant seat belt wearing rates, and poor nighttime visibility, the application requirements for panoramic image monitoring systems or blind spot monitoring systems and driver attention monitoring systems are added, the application scope of seat belt wearing reminder devices is expanded, and requirements for the affixing of reflective markings on the body of three-wheeled cargo motorcycles are added. (CCTV News) A[The "Outer Dimensions, Axle Loads and Quality Limits of Cars, Trailers and Car Trains" Mandatory National Standard Released] August 31st. Recently, the State Administration for Market Regulation (National Standards Administration) approved the release of the "Outer Dimensions, Axle Load and Quality Limits of Cars, Trailers and Car Trains" (GB 1589-2026) mandatory national standard, which will be implemented from July 1, 2027. This standard stipulates the limits for the outer dimensions, axle loads, and mass of cars, trailers, and car trains. This revision focuses on the following aspects: In terms of intelligent network connection technology adaptation, new exemption rules for outer size of sensing communication components such as radars, cameras, and V2X antennas are relaxed, and local protruding size restrictions are relaxed to meet the use needs of vehicle blind spot monitoring, autonomous driving environment perception, vehicle-road collaboration, and over-the-horizon safety communication.
In terms of the rationality of the axle load distribution of new energy commercial vehicles, the maximum allowable axle load limit for a single tire on each side of a single axle is increased from 7,000 kilograms to 8,000 kilograms, which effectively alleviates the front axle overload problem of new energy commercial vehicles caused by concentrated battery loads and provides greater design margin for the axle load distribution and structural layout of new energy vehicles. In terms of innovation in energy-saving models, the terms definitions of streamlined semi-trailer tractors and streamlined articulated trains have been added, and the length limit of streamlined articulated trains has been clarified to be 18.1 meters, which is suitable for the development of low-wind resistance energy-saving models and helps commercial vehicles reduce carbon emissions. In terms of container transportation convenience, the length limit of articulated trains transporting 45-foot containers will be increased from 17.1 meters to 17.3 meters. At the same time, the maximum distance corresponding to the central axis of the semi-trailer's traction pin to the rear end of the vehicle will be 12.2 meters. This will improve the convenience of matching the main trailer of container transportation vehicles and selecting three-axle tractors. It will respond to the development trend of improving the total mass of containers and take into account the efficiency of multimodal transportation and ease of use. A[Henan: Strive to reach 1 million new energy vehicle production throughout the year] On August 31, the General Office of the Henan Provincial People's Government recently issued the "Notice on Key Tasks and Measures to Resolutely Win the Summer and Autumn Battle of Economic Development and Promote the Continued Economic Development in the Second Half of 2026", which mentioned the consolidation and expansion of the rapid development momentum of emerging industries. Promote the expansion of capacity and efficiency in emerging industries such as new energy vehicles, electronic information, and new materials, promote the production of 12-inch large silicon wafers and diamond heat sink wafers, complete and put into production projects such as liquid-cooled servers, pickup trucks, passenger car technical modifications, and power batteries, and strive to achieve annual production of new energy vehicles to 1 million units. A[R&D vitality bursts, A-share semi-annual report outlines innovation picture] August 31st, in the first half of 2026, a group of A-share industry leaders continued to irrigate the soil of innovation with R&D "living water", and R&D investment accelerated into corporate performance growth. Many companies delivered outstanding results in hard technology tracks such as AI computing power, new energy, and innovative drugs. According to incomplete statistics, as of August 30, more than 5,500 A-share listed companies disclosed their R&D investment in the first half of the year, with a total R&D investment of more than 810 billion yuan, a year-on-year increase of more than 7%. In terms of R&D scale, more than 1,200 companies have invested more than 100 million yuan in R&D, and more than 900 companies have invested more than 10% in R&D investment in operating income (referred to as "R&D intensity"). Judging from the increase in R&D investment, more than 2,800 companies have achieved year-on-year growth in R&D investment, accounting for more than 50% of the total. Among them, more than 1,200 companies have increased R&D investment by more than 20%. (Shanghai Securities News) A[Reminder of important events in the capital market next week: China’s official PMI data for August will be released on Monday; US non-agricultural data for August will be released on Friday; Suiyuan Technology will open subscriptions on Wednesday. The “Four Domestic GPU Tigers” will gather in the capital market]
1. On August 31, China’s official PMI data for August was released, including manufacturing PMI, non-manufacturing business activity index, etc. Previously, China's manufacturing PMI was 49.2% in July.
2. The August non-farm employment report will be released on Friday (September 4). Nonfarm payrolls unexpectedly dropped by 23,000 in July, the worst rate of the year, and the market expected an increase of 55,000 in August. This data can reflect the stability of the job market and whether high inflation is transmitted to wages. Investors will use this to judge the possibility of the Federal Reserve raising interest rates as early as September.
3. From August 31 to September 1, under the auspices of the Kyrgyz Republic, the meeting of the Council of Heads of Member States of the Shanghai Cooperation Organization will be held in Bishkek. The heads of state will review current international and regional hot issues, discuss the development of multilateral cooperation, and the prospects for cooperation in areas such as political security, economy and trade, transportation, energy, digitalization, artificial intelligence, people-to-people and cultural exchanges, and sustainable development.
4. The G20 Finance Ministers and Central Bank Governors Meeting will be held from August 31 to September 1 in Asheville, North Carolina, USA, and will be chaired by Bessant. This is also the first major appearance of the United States re-leading the multilateral agenda after eschewing the South African-led G20 process last year.
5. Three new stocks will be issued next week (August 31st to September 6th), including 2 on the Science and Technology Innovation Board and 1 on the Beijing Stock Exchange. Specifically, Baimeike was issued on August 31; Suiyuan Technology was issued on September 2; and Sinovac was issued on September 3. Among them, Suiyuan Technology, Moore Thread, Muxi Technology, and Biren Technology are collectively known as the "Four Little Dragons of Domestic GPUs." Previously, the closing gains of Moore Thread, Muxi Shares, and Biren Technology on the first day of listing were 425.46%, 692.95%, and 75.82% respectively.
6. The MSCI index will take effect after the closing of August 31 after the August index review and adjustment results. Among them, the MSCI China Index newly included 33 targets such as Zhipu, and excluded 32 targets such as GCL Technology and Kingdee International. Of the 33 stocks included this time, 31 are from A shares.
7. Broadcom’s financial report performance next week will affect artificial intelligence (AI) trading trends. Other companies worthy of attention include Dell Technologies, HP Enterprise, Lululemon, Medtronic, etc. Chinese concept stock NIO will also release results.
8. Shein is scheduled to IPO in Hong Kong on September 1. Documents show that Shein will raise US$1.7 billion through the Hong Kong IPO and issue approximately 280 million shares at a price of HK$48.56 per share.
9. Baidu’s dual primary listing on the Hong Kong Stock Exchange and Nasdaq will take effect on September 1. According to the company's announcement, this move has improved the liquidity and financing flexibility of the two places. The return of Chinese concept stocks to the benchmark continues to have significance. Pay attention to the sentiment of the Hong Kong stock technology sector.
10. Next week (August 31-September 6), a total of 31 companies will gradually lift their restricted shares. Calculated based on the closing price on August 28, the top three companies in terms of market value after the release of the ban are: Aerospace Intelligent Manufacturing (6.05 billion yuan), Honghe Technology (3.46 billion yuan), and Juren New Materials (1.13 billion yuan).
11. The 2026 World Power Battery Conference will be held in Yibin, Sichuan from September 3 to 4. It aims to promote global green, low-carbon and sustainable development and accelerate the high-quality development of the power battery and new energy vehicle industries.
12. The 2026 China International Consumer Electronics Expo will be held in Qingdao from September 4th to 6th. With the theme of "AI Leading the Intelligent Future", the expo aims at the forefront and future trends of today's global consumer electronics industry.
13. The 14th Semiconductor Equipment Materials and Core Components Exhibition (CSEAC2026) will be held in Wuxi from August 31 to September 2. It is an exhibition in the field of semiconductor equipment materials and core components. The exhibition planning exceeds 70,000 square meters and gathers more than 1,300 domestic and foreign companies, covering wafer manufacturing equipment, packaging and testing equipment, core components and materials, and other fields. Overseas exhibitors account for 16%.
14. The G20 Science and Technology Ministerial Meeting will be held in North Carolina, USA, from September 1st to 2nd. Technology giants such as Musk, Huang Jensen, and Altman will attend.
15. The Federal Reserve will release the latest Beige Book on economic conditions on September 3. At the same time, many members of the Federal Open Market Committee will speak on the economic outlook and monetary policy. The market will pay attention to its hints on the timing of interest rate cuts.
16. Tesla will release Cybercab, a self-driving model without a steering wheel and pedals, in Austin on September 3, local time. A[Intelligent Robot Ecological Overseas Conference held in Liuzhou, the robot industry accelerates its deployment in ASEAN overseas markets] August 29th, August 28th to 29th, the Intelligent Robot Ecological Overseas Conference was held in Liuzhou. This conference focuses on the agglomeration of robot ecology and overseas market development, relying on location advantages to seize cooperation opportunities in ASEAN, and promote the overseas expansion of industries and the development of new productivity. The conference completed the signing of a memorandum of cooperation on the ASEAN intelligent robot industry service platform, and signed a number of cooperation contracts. Orders and projects cover the ASEAN and Russian markets, covering complete machine manufacturing, core components, new energy, display devices, intelligent technology and other fields. Nearly 40 companies and higher vocational colleges gathered on site, exhibiting more than 100 robots and intelligent equipment products in six categories: industrial, humanoid, special, health care, agriculture, and inspection. Liuzhou has a complete range of industrial categories and rich application scenarios. Key enterprises such as Youbixuan and Jimu Robot have already established their presence, and their products are widely used in automobile manufacturing. The unique geographical advantage provides natural conditions for docking with ASEAN. The conference gathers resources from across the country and relies on the joint construction of an ASEAN-oriented intelligent robot industry service platform to continue to make up for the shortcomings in innovation, standard certification, and cross-border services, help domestic robots explore the global market, and create a new highland for openness and cooperation. A[National Data Bureau: The computing power network forms a deep coupling with the “Five Networks”] On August 29, the 2026 Data Expo is being held in Guiyang, Guizhou. Today, the relevant person in charge of the National Data Administration said at the "Integration of Data and Computing to Drive the Future" exchange event that the computing power network, water network, new power grid, new generation communication network, urban underground pipe network, and logistics network are organic wholes that are deeply coupled, mutually empowering, and collaboratively supported. According to reports, the computing power network serves as the "brain" to facilitate intelligent dispatching of new power grids and new energy consumption; collaborates with new generation communication networks to promote data circulation, model training and application innovation; empowers water networks to achieve accurate forecasts of water conditions in river basins and dynamic allocation of water resources; supports urban underground pipe networks to drive real-time monitoring, risk warning and emergency linkage of lifeline projects such as gas, drainage, and heating; connects the logistics network to promote cost reduction and efficiency improvement throughout the supply chain. The latest data released at the meeting showed that as of the end of July, the total scale of intelligent computing in the country reached 2.45 million PFLOPS (FP16). Eight national computing power hubs and three computing and computing collaborative development zones have built intelligent computing scale, accounting for more than 85% of the country's total.
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