GMT EIGHT - OPPORTUNITIES IN CHINA

Zheshang: How should we view the 10-year U.S. Treasury yield breaking above 5%?

After the Fed's September rate hike was implemented, the U.S. Treasury market stabilized in the short term, but the issues driving the rise in Treasury yields have not been fundamentally resolved.

As the Bank of Japan raises interest rates, hedge funds turn bullish on the yen for the first time in over a year.

Hedge funds turned net long on the yen for the first time since July 2025, only to be blindsided by the Bank of Japan's dovish stance.

New Stock News | Zhejiang Jingxin Pharmaceutical (002020.SZ) Files Again with HKEX, Has Successfully Launched Class 1 Innovative Drug Didaxini

According to a disclosure by the Hong Kong Stock Exchange on September 18, Zhejiang Jingxin Pharmaceutical Co., Ltd. (referred to as Jingxin Pharmaceutical, 002020.SZ) has once again submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor.

New Stock News | Zhejiang Jingxin Pharmaceutical (002020.SZ) Files Again with the Hong Kong Stock Exchange

According to a disclosure by the Hong Kong Stock Exchange on September 18, Zhejiang Jingxin Pharmaceutical Co., Ltd. (referred to as Jingxin Pharmaceutical, 002020.SZ) has once again submitted an application for listing to the Main Board of the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor.

Cui Dongshu: Auto exports reached $129.1 billion in January-August, up 53%; China's auto industry is highly dynamic.

Auto exports reached $129.1 billion in January-August 2026, up 53%; auto exports in August were $18.3 billion, up 43%. China's auto industry is highly dynamic.

CITIC SEC: Ultimate Heat Dissipation Arrives, Diamond Ushers in Its First Year of Industrialization

Driven by three factorsthe steep rise in AI chip power consumption, traditional metal heat dissipation approaching its physical limits, and the continuous optimization of diamond preparation technologies and processesthe diamond heat dissipation industry is poised to embrace investment opportunities in its first year of industrialization.

CITIC SEC: Huawei Connect Conference releases new AIDC energy infrastructure products, accelerating upgrades in energy storage and liquid cooling.

Huawei releases multiple new AIDC energy infrastructure products: high-voltage direct current, multi-layer energy storage, and liquid cooling become important evolution directions.

CITIC SEC: Ascend 960 release moved up; the entire domestic computing power industry chain will benefit.

Huawei's 2026 Connect Conference shows that domestic computing power has escalated from "single-card" competition to full-stack competition based on "system-level solutions," and the entire domestic computing power industry chain will benefit.

SanDisk (SNDK.US) surged 11%, storage and chip stocks saw massive volume in "short-term options," has the "AI stock god" made a move again?

Two-week contracts leave almost no margin for error.

Alphabet Inc. Class C (GOOGL.US) joins the ranks of AI intrusion disclosures: Gemini guessed passwords during testing and accessed three real enterprise systems.

Google joins OpenAI, Anthropic, and Meta in disclosing AI agent intrusion incidents.

US stock index adjustments take effect next Monday: Bloom Energy (BE.US) and Everpure (P.US) among others to be added to the S&P 500, with changes also seen in small- and mid-cap stocks.

Bloom Energy, Illumina, and Everpure will be added to the S&P 500 index, while several other companies will be added to the S&P 100, S&P MidCap 400, and S&P SmallCap 600 indices.

Hedge funds turn bullish on the yen for the first time in 14 monthsis a reversal signal emerging for carry trades?

Hedge funds turned bullish on the yen for the first time since July 2025 and began betting on a stronger yen.

Is the Fed repeating its 2022-style rate hikes? Bank of America warns: predicts rates returning above 5%, recommends shorting two-year Treasuries.

Bank of America warns: A Fed led by Warsh may hike rates above 5%, repeating 2022.

Overnight US stocks | The three major indices closed mixed; Bitcoin broke through $80,000; Strategy (MSTR.US) rose over 16%.

As of the close, the Dow fell 95.39 points, or 0.18%, to 51,682.64, down 1.69% for the week; the S&P 500 rose 12.74 points, or 0.17%, to 7,650.50, down 0.08% for the week; the Nasdaq rose 104.24 points, or 0.39%, to 26,522.54, up 0.72% for the week.

Hedge funds turn bullish on the yen for the first time in over a year, with net long positions rising to about $1.6 billion; forex volatility intensifies after Japan and U.S. rate hikes.

The latest data from the U.S. Commodity Futures Trading Commission shows that hedge funds have turned bullish on the yen for the first time since July 2025.

U.S. stocks approach record highs, yet retail investors grow increasingly pessimistic! Survey shows bearish sentiment rises to 53.3%, with a notable increase in cash allocations.

The latest weekly survey released by the American Association of Individual Investors on Friday shows that, against the backdrop of oil prices remaining high and the Federal Reserve raising interest rates for the first time since 2023, investor bearish sentiment has risen to its strongest level since 2025.

AI "neocloud" operator Nscale (NSCL.US) races toward U.S. IPO, seeking to raise up to $3 billion; Anthropic splashes $45 billion to lock in computing power.

AI data center developer Nscale has filed for an initial public offering with the U.S. Securities and Exchange Commission, planning to list on the New York Stock Exchange under the ticker symbol "NSCL."

Federal Reserve signals continued interest rate hikes, dollar posts largest weekly gain in over three months.

After the Federal Reserve signaled that it will continue raising interest rates in the future, the dollar strengthened significantly this week, posting its largest weekly gain in more than three months.

China's semiconductor equipment investment boom is expected to continue! Morgan Stanley: Wafer fabrication equipment spending is expected to keep growing in 2027 and 2028, and the localization process may further accelerate.

Morgan Stanley released its latest research report, stating that the strong growth momentum in China's wafer fabrication equipment market is expected to continue through 2027 to 2028.

US Stock Market Move | Popular Chinese concept stocks rose broadly, with Alibaba Group Holding Limited Sponsored ADR (BABA.US) gaining more than 4%.

Popular Chinese concept stocks rose broadly, with Kingsoft Cloud (KC.US) gaining more than 5% and Alibaba (BABA.US) gaining more than 4%.

WEB3 META (08093) issues profit warning, expects annual loss attributable to shareholders of approximately HK$29 million to HK$31 million

WEB3 META (08093) issues an announcement that the Group is expected to record a loss attributable to owners of the Company of approximately HK$29 million to HK$31 million for the year ended 30 June 2026, compared to a loss attributable to owners of the Company of approximately HK$20 million for the year ended 30 June 2025.

CHINA ECOTOUR (01371) issues a positive profit alert, expecting annual profit attributable to shareholders of approximately HK$95 million to HK$105 million, turning from loss to profit year-on-year.

China Ecotour (01371) announced that, compared with the loss attributable to owners of the Company of approximately HK$72.4 million recorded by the Group in the prior year, the Company expects to record a profit attributable to owners of the Company of between approximately HK$95 million and HK$105 million for the year ended 30 June 2026.

AI agents compete for the $30 trillion consumer market! Morgan Stanley: Meta(META.US), Apple Inc.(AAPL.US), Amazon.com, Inc.(AMZN.US) and others are poised to benefit; Alphabet Inc. Class C(GOOGL.US) faces a business model test

Morgan Stanley believes that AI agents are accelerating their evolution into consumer transaction gateways and are expected to unlock a consumer market of approximately $30 trillion in the future. Meta, Apple, Amazon, and others may benefit, while Google and industries such as ride-hailing face pressure to reshape their business models.

SINOPHARM TECH (08156) issues profit warning, expecting annual loss attributable to shareholders of HK$9 million to HK$11 million

SINOPHARM TECH (08156) issued an announcement that the Group expects to record a loss attributable to owners of the Company of between HK$9 million and HK$11 million for the year ended 30 June 2026, as compared to a loss attributable to owners of the Company of approximately HK$0.8 million for the year ended 30 June 2025. The Board considers that the increase in loss attributable to owners of the Company during the Reporting Period was primarily due to (i) a significant year-on-year decline in revenue from the Group's supply chain services business; and (ii) an increase in selling and distribution expenses during the Reporting Period compared to the same period in 2025, which was attributable to increased product promotion costs.

CHINA HONGGUANG (08646) Establishes Joint Venture Subsidiary to Advance the Implementation and Production of the Semiconductor TGV Glass Substrate Industry Chain

CHINA HONGGUANG (08646) announced that on September 18, 2026, in order to accelerate the Group's strategic layout in the semiconductor TGV glass substrate new materials industry chain and promote the industrialization and large-scale production of TGV glass substrate-related technologies, the Company, together with Dream Buddha Resources Group Co., Ltd. (USA) (Dream Buddha USA) and Dongguan Yanguang Technology Co., Ltd. (Yanguang Company), jointly contributed capital to establish a joint venture subsidiary, Hongmeng Xincai (Shenzhen) Semiconductor Technology Co., Ltd. (Hongmeng Xincai); Hongmeng Xincai plans to establish the Hongmeng Xincai Wuhan Branch in Wuhan as a semiconductor TGV glass substrate materials industrialization production base to carry out research and development, pilot testing, and formal production operations.

Shenyang Public Utility Development (00747) plans to sell 100% equity of Shenzhen Jusheng Chuangjian Investment Development for RMB 2 million.

Shenyang Public Utility Development (00747) announced that on September 18, 2026, the company (as seller) entered into a share transfer agreement with the buyer, Shenzhen Castle Century Trading Co., Ltd., to sell 100% equity of the target company, Shenzhen Jusheng Chuangjian Investment Development Co., Ltd., to the buyer for a consideration of RMB 2 million.

US Stock Market Move | Cryptocurrency-related stocks rose broadly, with Strategy (MSTR.US) up over 9%.

On Friday, cryptocurrency-related stocks rose broadly, with Strategy (MSTR.US) up over 9%.

CHINA PPT INV (00736) proposes to issue a total of 53.433 million subscription shares at a premium of approximately 5.6%

China PPT INV (00736) announces that on September 18, 2026 (after trading hours), the Company entered into seven separate subscription agreements with seven individual third parties, pursuant to which the Company has conditionally agreed to allot and issue, and the subscribers have conditionally agreed to subscribe for, a total of 53.433 million subscription shares at a price of HK$0.188 per subscription share.

SMART DIGI TECH (01159): "Hong Kong Remote Sensing Satellite Constellation System Construction Project Feasibility Study Report" Passes Expert Review

Smart Digi Tech Group (01159) announced that on September 18, 2026, the Group conducted an assessment of the feasibility of the "Hong Kong Remote Sensing Satellite Constellation System Construction Project Feasibility Study Report." Experts unanimously agreed that the technical solution is reasonable and feasible, the construction and implementation conditions are basically complete, and the analysis of economic and social benefits is comprehensive. The experts unanimously approved the review, and the Group will revise and improve the report in accordance with the experts' opinions.

GRAND MING (01271) intends to sell its data center development project.

Grand Ming Group Holdings (01271) announced that on September 18, 2026, the vendors (being two indirectly wholly-owned subsidiaries of the Company) entered into the agreements with the purchaser, pursuant to which the vendors have conditionally agreed to sell, and the purchaser has conditionally agreed to purchase, the properties for a minimum total consideration of HK$2.179 billion, plus a potential further additional amount of up to HK$266 million, with a maximum total consideration of HK$2.445 billion.

ANDRE JUICE (02218) plans to acquire a 62.0611% stake in Ningbo Yongqiang Technology for RMB 793 million.

ANDRE JUICE (02218) announced that on September 18, 2026, the company entered into asset purchase agreements with the relevant transferors and the target company (Ningbo Yongqiang Technology Co., Ltd.) respectively. Accordingly, the company intends to acquire an aggregate 62.0611% equity interest in the target company in cash, for a total consideration of RMB 793 million. Upon completion of this transaction, the company will become the controlling shareholder of the target company, and the target company will become a non-wholly-owned subsidiary of the company, with its financial data to be consolidated into the group's consolidated financial statements.

JINGCHENG MAC (00187) controlling subsidiary Beiyang Tianqing receives the CSRC's Notice of Filing

JINGCHENG MAC (00187) announced that on September 18, 2026, the company received a report from its controlling subsidiary Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd. that Beiyang Tianqing had received a Notice of Filing issued by the China Securities Regulatory Commission (CSRC Filing No. 0392026058). As Beiyang Tianqing was the target of an asset restructuring and is suspected of providing information during the restructuring process that contained false records, misleading statements, or material omissions, the CSRC has decided to file a case against Beiyang Tianqing in accordance with the Securities Law of the People's Republic of China, the Administrative Penalty Law of the People's Republic of China, and other laws and regulations.

Inflation and interest rate concerns intensify! Global equity funds see largest weekly net outflow in 9 months; U.S. equity funds suffer outflows for a fourth consecutive week.

Rising crude oil prices have intensified inflation concerns, while market expectations of a Federal Reserve rate hike have also made investors more cautious ahead of its policy decision, resulting in a net outflow of $23.21 billion from global equity funds in the week ended September 16.

MiniMax (00100) Code CLI is officially open-sourced, closing up over 18%.

MiniMax (00100) Code CLI v0.4.12 is now officially available to developers worldwide and has been officially open-sourced under the MIT License.

YUNFENG FIN (00376) Restructures Licensed Entity Framework, to Sell Entire Issued Share Capital of YFML

YUNFENG FIN (00376) announced that on September 18, 2026, the Company (as seller) entered into a sale and purchase agreement with Mega (as buyer), YFML (the target company), and Mr. Yu Feng (as guarantor), pursuant to which the Company agreed to sell and the buyer agreed to purchase the sale shares, representing the entire issued share capital of YFML.

Goldman Sachs: Industrials Are "Even More Expensive" Than Tech Stocks; Global Sector Pricing Logic Has Shifted

The industrials sector's 12-month forward price-to-earnings ratio is now higher than that of the tech sector, indicating a shift in relative valuations across global equity market sectors.

New Stock News | Weiyi Intelligent Manufacturing's Hong Kong IPO and Full Circulation of Domestic Unlisted Shares Filed with the CSRC

On September 18, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice of Filing for Overseas Issuance and Listing and Full Circulation of Domestic Unlisted Shares of Changzhou Weiyi Intelligent Manufacturing Technology Co., Ltd."

S.F. Holding (06936) reported combined revenue of RMB 25.489 billion in August from its express logistics business, supply chain, and international business, up 2.83% year-on-year.

S.F. Holding (06936) announced that the company's combined revenue from its express logistics business, supply chain, and international business in August 2026 amounted to RMB 25.489 billion, representing a year-on-year increase of 2.83%. Among this:

BANK OF GUIZHOU (06199) plans to issue no more than 2.473 billion domestic shares and no more than 43,900 H shares.

Bank of Guizhou (06199) has announced that, in order to improve the Bank's capital adequacy ratio, ensure that the capital adequacy ratio meets regulatory requirements, and enhance its ability to withstand risks, on September 18, 2026, the Board resolved to propose, under a special mandate, the issuance of no more than 2.473 billion domestic shares and no more than 43,900 H shares to qualified subscribers. The net proceeds from this issuance, after deducting relevant issuance expenses, will be used entirely to replenish the Bank's core tier-one capital. This issuance will be carried out under the special mandate. The Bank will convene an extraordinary general meeting and class shareholders' meetings to seek shareholders' approval for the granting of the special mandate to carry out this issuance.

FIRST TRACTOR (00038) will distribute an interim dividend of HK$0.08 per share on November 13.

FIRST TRACTOR (00038) announced that it will distribute an interim dividend of HK$0.08 per share for the six months ended June 30, 2026, on November 13, 2026.

Lagarde: Rising energy prices will not automatically trigger a rate hike; the ECB will make decisions based on a comprehensive assessment of inflation and growth.

ECB President Christine Lagarde told eurozone finance ministers that a jump in energy prices does not automatically monetary tightening.

TIAN TU CAPITAL (01973) will distribute an interim dividend of HK$1.738755 per 10 shares on November 9.

TIAN TU CAPITAL (01973) announced that it will distribute an interim dividend of HK$1.738755 per 10 shares for the six months ended June 30, 2026, on November 9, 2026.

RICH GOLDMAN (00070) issues profit warning, expects annual loss of approximately HK$21 million

RICH GOLDMAN (00070) issued an announcement that the Group is expected to record a loss of approximately HK$21 million for the financial year ended 30 June 2026 (FY2026), compared with a loss of approximately HK$102 million for the financial year ended 30 June 2025 (FY2025).

Cofoe Medical Technology (01187) will distribute an interim dividend of HK$6.95502 per 10 shares on November 16.

Cofoe Medical Technology (01187) has announced that it will distribute an interim dividend of HK$6.95502 per 10 shares for the six months ended June 30, 2026, on November 16, 2026.

TAI PING CARPET (00146) will distribute a final dividend of HK$0.12 per share on December 30.

TAI PING CARPET (00146) has announced that it will distribute a final dividend of HK$0.12 per share for the year ended June 30, 2026, on December 30, 2026.

TAI PING CARPET (00146) Announces Annual Results, Profit Attributable to Shareholders HK$46.522 Million, Up 6.26% Year-on-Year

TAI PING CARPET (00146) announced its annual results for the year ended June 30, 2026, with revenue of HK$696 million, up 5.66% year-on-year; profit attributable to shareholders of HK$46.522 million, up 6.26% year-on-year; basic earnings per share of 21.93 HK cents. A final dividend of 12 HK cents per share is proposed.

A-share Announcement Highlights | Trillion-market-cap giant Foxconn Industrial Internet (601138.SH) completes 1 billion yuan share buyback.

Foxconn Industrial Internet announced that the company has completed its share buyback plan, having repurchased a cumulative 15.8334 million shares, accounting for 0.08% of total share capital, with an actual buyback amount of 1 billion yuan and a buyback price range of 59.91 yuan per share to 66.40 yuan per share.

Buffett steps down as Berkshire (BRK.A.US) chairman; his son Howard takes over to "guard" the culture, while Abel leads operations.

Berkshire Hathaway announced on Friday that 96-year-old Warren Buffett is stepping down as chairman effective immediately and will become chairman emeritus, with his son Howard G. Buffett taking over as chairman.

Preview of US Stock Market | All three major stock index futures are rising together, oil prices are edging slightly lower, and triple witching day arrives tonight, potentially bringing a test of liquidity.

On Friday, September 18, before the U.S. stock market opened, futures for the three major U.S. stock indexes rose together.

HUAYAN ROBOTICS (01021) High-Precision Optical Coupling Platform: Providing Diversified Precision Motion Solutions for High-End Optical Communication Manufacturing

In the field of optical communications and optical module manufacturing, fiber coupling and precision alignment impose extremely stringent requirements on the accuracy, stability, and dynamic response of motion platforms.

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52 m ago

Commander of U.S. Central Command: Oil and cargo shipments over the past two weeks reached their highest level in the past six months.

1 h ago

U.S. Energy Secretary Wright ordered the continued operation of two coal-fired power plants in Indiana, requiring Nipsco, CenterPoint Energy, and MISO to take action.

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German business daily Handelsblatt reported on Saturday that Volkswagen's large-scale turnaround plan is expected to involve further job cuts of more than 4,000 at Porsche. Relevant documents show that Volkswagen's supervisory board recently approved an agreement aimed at advancing Volkswagen's largest restructuring plan to date. The documents propose that the Porsche brand cut "around 4,100 employees" to offset an indirect cost gap of about 700 million euros. These layoffs will be "on top of existing agreements." In July, Porsche management and labor representatives agreed to add another 5,000 layoffs on top of the previously determined 4,000 job cuts. Volkswagen on Friday lowered its full-year profit margin target and now expects it to be only 1% at most, compared with the previous target range of 4.0% to 5.5%. The adjustment mainly stems from asset impairments at Porsche. Porsche CEO Michael Leiters is currently under pressure to propose a recovery strategy to cope with a sharp decline in market sales and the high costs brought about by the automaker's reversal of its electric vehicle strategy.

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Market news: Porsche may cut another 4,000 jobs.

3 h ago

New Stock News | Jingxin Pharmaceutical (002020.SZ) Files Again with HKEX, Has Successfully Launched Class 1 Innovative Drug Dimdazenil

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