B[OpenSpace open source space ecology releases the first phase of the open source computing constellation with 2,600 satellites planned] "Science and Technology Innovation Board Daily" reported on the 17th that on October 17, 2026, at the 2026 Kaiyun Aerospace AOE Ecology Conference, the OpenSpace open source space ecology was officially released. Beijing Kaiyun United Information Technology Group Co., Ltd., together with representatives from industry-university-research funding units such as Oriental Space, Galaxy Aerospace, Beijing University of Aeronautics and Astronautics, China Space Foundation, China Business Hui Investment (Shenzhen) Private Equity Fund Management Co., Ltd., University of Aerospace Engineering, Zhejiang Branch of China People's Property Insurance Co., Ltd., the nine parties jointly launched the OpenSpace open source space ecosystem and open source community, and witnessed the release of the open source computing constellation plan. The open source computing constellation released simultaneously deeply integrates general computing, intelligent computing, super computing, edge computing and quantum computing to build satellites into on-orbit "space servers". The first phase of the constellation plans to launch 2,600 satellites, including 1,000 general computing satellites, 1,000 intelligent computing/supercomputing satellites, 500 edge computing satellites, and 100 quantum computing satellites. (Kechuangban Daily reporter Li Mingming) A[Welgo: Net profit in the third quarter increased by 462% year-on-year. Orders for AI server power supply AC-DC products grew rapidly] On October 16, Welgo (301251.SZ) announced that its operating income in the third quarter was 877 million yuan, a year-on-year increase of 115.24%; net profit was 138 million yuan, a year-on-year increase of 461.86%. Operating income in the first three quarters was 1.856 billion yuan, a year-on-year increase of 65.41%; net profit was 182 million yuan, a year-on-year increase of 161.43%. Since 2026, the demand for AI server power supplies has exploded. The company's thick copper plate flagship products have continued to iterate. Ultra-thick copper, high multi-layer, and HDI technology and process capabilities have been further improved. Overseas production capacity layout has gradually taken shape. The company's AI server power supply AC-DC product orders have grown rapidly, with a significant increase compared with the same period last year. In terms of DC-DC high-end products, it has obtained supply qualifications from key large customers, and is simultaneously promoting certification and introduction for multiple customers. The talent system has been improved and small batch delivery has been achieved. During the reporting period, AI server power products accounted for approximately 63% of the main business revenue. Xiaocai Note: The company’s Q3 net profit was 138 million, and Q2 net profit was 37 million. Based on this calculation, Q3 net profit increased by 268% month-on-month. B[CITIC Securities: It is recommended to pay attention to the investment opportunities of companies in the HDD, DRAM, and NAND tracks] On October 16, CITIC Securities reported that the recent global memory chip stock price fluctuations have intensified, and their performance has been significantly weaker than other sectors since October. In addition to the disturbance of macro factors (increased crude oil price fluctuations, inflation and interest rate expectations have resurfaced), the industry has also become more concerned about the progress of Changxin Technology’s 4F² technology. The main reason is that the market is worried that China's local wafer fabs will form an effective technological breakthrough in the high-margin server DDR5 market, and the narrative logic of overseas giants maintaining ultra-high bargaining power through monopolizing production capacity will be shaken. From the perspective of industry progress, the current DRAM technology is still dominated by 6F² unit structure. The implementation of 4F² technology depends on the progress of Samsung Electronics and Changxin Technology. At present, 4F² technology is still in the early verification stage. It is still necessary to observe the company's yield, output, gross profit margin, downstream customer certification and other indicators in this field. It will have a relatively small impact on the short- and medium-term storage industry. It is recommended to pay attention to the investment opportunities of companies in the HDD, DRAM, and NAND tracks. B[Xiechuang Data: There is no "substantial control" situation as reported] An investor asked Xiechuang Data. Media reports used "paper carnival" and "hidden paths" to characterize the company's 32.2 billion yuan in purchases and 850 million yuan in related sales, which has impacted the stock price and shareholder interests. The company must initiate a special inspection and respond item by item; proactively correct any deficiencies and hold those accountable, etc.
Xiechuang Data stated on the interactive platform that after the company paid attention to the relevant media reports, it immediately carried out internal special verification on core matters such as related transactions and business authenticity involved in the reports. The relevant situation is now unified as follows: The equity transfer of Metabes is based on the company’s business development In line with the market-oriented operating decisions made in the plan, the company has completed the external transfer of all the equity of Metabes in February 2026. Before the transfer, at the end of 2025, the total number of insured persons in Metabes and its branches was 21. After the transfer, Metabes will no longer be included in the company's consolidated statements. Based on the principle of prudence, the company identified Metabes within 12 months after the equity transfer as a related party, and fulfilled complete board review procedures and information disclosure obligations for relevant daily related transactions. After the completion of the transaction, the company only carried out business cooperation in accordance with related party rules, and there was no "substantial control" situation as reported.
The company's related procurement with Qishuo Technology and its related sales with Metabes have all gone through board review and information disclosure procedures in accordance with legal requirements; the two transactions belong to different business links in the upstream and downstream of the supply chain, and the transaction counterparties, contract subjects, and pricing logic are independent of each other. The pricing follows the principle of market fairness and has a real business background. There is no artificially designed closed-loop transaction or benefit transfer. During the period of controlling Metabase, the amount of the company purchasing servers from Qishuo Technology and selling computing power services to Metabase accounted for a relatively small proportion of the company's overall scale of similar purchases and similar sales during the same period, and would not have a significant impact on the company's overall operating performance.
At present, all the company's businesses are progressing normally, and production and operations are proceeding in an orderly manner. The company always attaches great importance to business compliance and the protection of investors' rights and interests, strictly abides by various regulatory regulations, and actively accepts supervision and investor supervision. In the future, the company will continue to strengthen compliance management of the entire business process to ensure the steady development of the company's operations and effectively safeguard the interests of all shareholders. B[Shanghai Electric Co., Ltd.: Net profit is expected to increase by 100.54%-109.74% year-on-year in the first three quarters of 2026] On October 14, Shanghai Electric Co., Ltd. (002463.SZ) announced that the net profit attributable to shareholders of listed companies in the first three quarters of 2026 is expected to be 5.450 billion yuan-5.700 billion yuan, a year-on-year increase of 100.54%-109.74%. The change in performance is mainly due to the structural demand in application fields such as high-speed switches, AI servers, high-performance computing and smart cars. Superimposed on the continuous optimization of the company's product structure, operating income and net profit have grown rapidly; the Thai subsidiary has entered a large-scale operation period from a production capacity ramp-up period, achieving a turnaround from losses to profits. Xiaocai Note: The company’s Q3 net profit is expected to be 2.527 billion-2.777 billion, and Q2 net profit is 1.681 billion. Based on this calculation, Q3 net profit is expected to increase by 50%-65% month-on-month. B[Agency: It is estimated that the total CSP capital expenditure in 2027 will exceed US$1.5 trillion, and the rising volume and price of AI servers will drive the annual output value to increase by more than 90%] "Science and Technology Innovation Board Daily" reported on the 14th, according to TrendForce Consulting's latest AI Server (AI server) industry research shows that as ultra-large cloud service providers (CSPs) expand their investment in servers and AI infrastructure, it is expected that the total capital expenditures of the world's top nine CSPs will exceed US$957 billion in 2026, with an annual increase of 106%; in 2027, it is expected to exceed US$1.5 trillion, with an annual increase of 60%, both of which are better than previous expectations. It is estimated that next year, in addition to the overall server output value will exceed 1 trillion US dollars for the first time, the AI server output value will also jump to nearly 920 billion US dollars, with an annual growth rate of more than 90%, and the proportion of the overall server output value will increase to about 81%. B[General Administration of Customs: Chinese enterprises provide solid support to cope with the growth of global computing power and electricity demand] On October 14, Wang Jun, deputy director of the General Administration of Customs, said at a press conference of the State Council Information Office that China relies on its complete industrial system and technological innovation capabilities to provide solid support to cope with the growth of global computing power and electricity demand.
In terms of computing power, China's exports of integrated circuits increased by 99.1% in the first three quarters, computer parts and accessories increased by 2.1 times, and storage components such as solid-state drives increased by 1.3 times, ensuring a stable supply of intermediate products in the global computing power industry chain. Exports of data processing equipment such as servers increased by 7.2%, supporting the construction of global computing infrastructure.
In terms of electricity, product exports have made great efforts in the first three quarters. In the smart field, exports of photovoltaic products increased by 10.3%, and wind turbines and their parts increased by 22.4%, continuing to fill the global clean energy supply gap; in the energy transmission field, exports of wires and cables increased by 28.1%, and transformers increased by 22.5%; in the energy storage field, exports of various storage batteries increased by 34.8%, and are exported to more than 200 countries and regions around the world.
From fingernail-sized high-speed optical communication modules to tons of AI computing power server cabinets; from a household wire to ultra-high voltage converter transformers for long-distance, large-capacity power transmission; from portable power banks to large-scale industrial and commercial energy storage equipment; from single small batteries to container-type integrated energy storage systems... Thousands of Chinese companies are providing practical, feasible, mature and reliable Chinese products, Chinese experience and Chinese solutions for global computing power construction, stable operation of power grids, and safe power supply. B[Xiechuang Data: There is no "channelized self-purchasing and self-sales" or harm to the interests of the company and shareholders] On October 13th, an investor asked that today, media reports raised three questions about your company: the 32.2 billion yuan server purchase announcement did not include a corresponding computing power sales contract; an estimated 850 million yuan related sales to Metabase, which has a net asset of less than 200,000 yuan and 1 insured person (134 million yuan has occurred in half a year); and a 300 million yuan related purchase from Qishuo Technology. Based on this, the market suspects that the transaction is "channelized self-purchasing and self-selling". Xiechuang Data stated on the interactive platform that the company's server procurement is mainly used for cloud computing services. The procurement scale is carefully determined based on customer orders, project planning, funding arrangements and delivery pace. It is a front-end investment in the construction of computing infrastructure; there is no one-to-one correspondence between the estimated purchase amount and the actual sales contract, and cannot be deduced based on this. The transactions between the company and Metabes and Qishuo Technology are all based on real business needs, using market prices as the pricing principle, and have completed related transaction review, related director avoidance and disclosure procedures;
As of June 30, 2026, a total of 134.1236 million yuan was incurred in the sale of computing power services to Metabase, and a total of 93.7719 million yuan was incurred in purchasing servers from Qishuo Technology. Neither of them exceeded the approved quota, and there was no major difference between the transaction price and the market reference price. There is no matter that the company should disclose but fails to disclose, and there is no so-called "channelized self-purchasing and self-sale" or any situation that harms the interests of the company and shareholders. For information that is inconsistent with the facts, the company will take necessary measures in accordance with the law to safeguard the legitimate rights and interests of the company and investors. B[Shanghai: Improve the entry threshold for energy efficiency of data center projects and the energy utilization efficiency of new computing facilities shall not exceed 1.2] On October 13, the General Office of the Shanghai Municipal People's Government issued the "Shanghai 15th Five-Year Plan for Energy Saving, Carbon Reduction and Circular Economy Development." It pointed out that the construction of green data centers should be steadily and orderly promoted, supporting integrated applications such as liquid cooling technology, efficient servers, green energy, and energy-saving intelligent control models based on artificial intelligence, and exploring the construction of undersea data centers in combination with offshore wind power. Strictly manage the access to new data centers, improve the energy efficiency access threshold for data center projects, and ensure that the energy utilization efficiency of new computing facilities does not exceed 1.2. Promote the energy-saving and carbon-reducing transformation of infrastructure such as computing power, communication base stations and computer rooms, promote the optimization and upgrading of equipment selection, cooling architecture, cabinet power density, system intelligent operation strategies, etc., and continue to improve energy efficiency per unit of computing power and energy efficiency per unit of information flow. A[Selected evening news on October 12]
1. The Ministry of Finance and the State Administration of Taxation announced that starting from April 1, 2027, the export value-added tax rebate rate for new energy vehicles will be reduced from 13% to 9%.
2. Wu Qing, chairman of the China Securities Regulatory Commission, will attend the 2026 Financial Street Forum Annual Meeting and deliver a keynote speech. In addition, many leaders of the China Securities Regulatory Commission and heads of relevant departments and system units will also attend activities related to the forum’s annual meeting.
3. Wang Li, deputy director of the General Office of the China Securities Regulatory Commission, said that exploring systems and practices that are more suitable for innovative small and medium-sized enterprises will better support the construction of a financial power and high-quality economic development.
4. Goldman Sachs recently raised its December Brent crude oil price forecast by US$5 to US$90 per barrel, citing continued supply risks in the Middle East.
5. Company news: ① Yuanjie Technology: Net profit is expected to increase by 579%-660% year-on-year in the third quarter. ② Lianxun Instruments: Net profit in the first three quarters is expected to increase by 1866%-2073% year-on-year. ③ Xingyun Technology: Increased the total amount of the computing power service contract to 3.357 billion yuan, an increase of approximately 9.96% from the original contract. ④ Thalys: 17.5357 million shares have been repurchased, with a cumulative repurchase amount of 983 million yuan. ⑤Hongxin Electronics: The subsidiary signed a 2.983 billion yuan purchase contract for high-performance server computing power chips. ⑥JAC: Sales of new energy passenger vehicles fell by 18.85% year-on-year in September. ⑦ Ultrasonic Electronics: Q3 net profit is expected to increase by 181%-206% month-on-month, with sufficient orders for copper-clad laminate products and rising prices. B[Guanghe Technology: Net profit is expected to increase by 100%-107% year-on-year in the first three quarters of 2026] On October 9, Guanghe Technology (001389.SZ) announced that the net profit attributable to shareholders of listed companies in the first three quarters of 2026 is expected to be 1.450 billion yuan-1.500 billion yuan, a year-on-year increase of 100.33%-107.23%. The change in performance is mainly due to the company seizing the market opportunities brought by the surge in demand for computing power hardware, firmly focusing on the computing power PCB market such as general servers, AI servers, switching products, and accelerator cards, and operating performance has steadily improved; the overseas factory Thailand Guanghe has completed core customer certification, gradually released production capacity, and achieved profitability during the reporting period; the subsidiary Huangshi Guanghe continued to promote cost control and product structure optimization, and profitability increased year-on-year. Xiaocai Note: The company’s Q3 net profit is expected to be 494 million to 544 million, and Q2 net profit is 563 million. Based on this calculation, Q3 net profit is expected to decrease by 3% to 12% month-on-month. 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[WTO raises global trade in goods growth forecast for 2026] On October 8, the World Trade Organization released its latest global trade outlook report on the 8th, saying that due to supply chain adjustments and strong investment in the field of artificial intelligence, global trade in goods is expected to grow by 3.9% in 2026, higher than the 1.9% forecast in March, and is expected to grow by 4.1% in 2027. The report also shows that due to the impact of the war in the Middle East on transportation and international travel, global services trade is expected to grow by 3.3% in 2026, lower than the 4.8% forecast in March, and will grow by 6.4% in 2027. WTO Director-General Iweala said that in the face of shocks, an integrated world economy and a rules-based trading system provide economies with flexibility so that essential goods can continue to flow to businesses and households who need them. However, she also pointed out that not all economies can seize new opportunities such as artificial intelligence, so it is necessary to ensure that the rules-based trading system can continue to withstand shocks, bridge gaps, and enable opportunities to be shared. The report shows that in the first half of this year, global trade in goods grew by 3.5%, exceeding expectations, indicating that the supply chain is capable of coping with the impact of the war in the Middle East on the energy, fertilizer and transportation markets. At the same time, artificial intelligence-related demand is strong, and trade in artificial intelligence-related commodities such as semiconductors and servers has increased by 67% year-on-year, with the growth rate further accelerating compared with 2024 and 2025. (Xinhua News Agency)
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