GMT EIGHT - OPPORTUNITIES IN CHINA

New Stock News | Huada BeiDou submits Listing Application to Hong Kong Stock Exchange

According to the disclosure on June 26 by the Hong Kong Stock Exchange, Shenzhen Hi-Target Navigation Technology Co., Ltd. (referred to as Hi-Target) has submitted an application for listing on the main board of the Hong Kong Stock Exchange. This is the company's third time submitting documents to the Hong Kong Stock Exchange, with CICC and Ping An Securities (Hong Kong) acting as its joint sponsors.

New stock news | Dah Qin Shuneng delivers table Hong Kong Stock Exchange

According to the disclosure of the Hong Kong Stock Exchange on June 26, Daqin Digital Energy Technology Co., Ltd. (referred to as: Daqin Shuneng) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Guotai Junan International as its exclusive sponsor.

New Stock News | United Technologies Submits Application to Hong Kong Stock Exchange

According to the disclosure by the Hong Kong Stock Exchange on June 26th, Shanghai Lian Tai Technology Co., Ltd. (referred to as Lian Tai Technology) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Haitong International as its exclusive sponsor.

SpaceX (SPCX.US) will be included in the Nasdaq 100 on July 7, expecting $4.3 billion in passive fund inflows.

The exchange operator NASDAQ confirmed on Friday that the rocket and AI giant SpaceX, owned by Elon Musk, will officially be included in the NASDAQ 100 Index, which is mainly comprised of technology stocks, on July 7th.

Insurance brokerage giant Hub International secretly submitted an application for a US IPO, planning to raise funds for debt repayment.

Insurance brokerage company Hub International Holdings Inc., supported by private equity firm Hellman & Friedman, has secretly submitted an IPO application to the U.S. Securities and Exchange Commission (SEC), with proceeds from fundraising expected to be used to reduce the company's debt burden.

After the IPO, the issuance of a large amount of bonds "upset" the market, SpaceX (SPCX.US) bonds are approaching "junk" levels, and the speed of the decline surprises traders.

After SpaceX's $25 billion bond issuance, it experienced intense selling pressure within 48 hours, with the spread on the 10-year bonds widening to over 1.6 percentage points. The long-term bond spread approached junk level, resulting in a paper loss of approximately $400 million. This sharp decline was triggered by arbitrage exits, continued losses by the company, and governance risks. This reflects a broader hidden risk in the technology debt bubble, with AI-related debt issuances increasing by 357% year-on-year, putting pressure on the credit market.

Signed an agreement, but still no use? Trump: If Europe dares to impose a digital tax, we will impose a 100% tariff.

Trump warned on Friday that any country imposing a digital services tax on American companies will immediately face a 100% tariff, and that this tariff will take precedence over any trade agreement. He said several European countries are close to implementing such taxes. The European Union has said it will react "rapidly and decisively." The White House plans to cite Section 301 of the 1974 Trade Act as legal basis for this action, seen as an alternative path to bypassing a Supreme Court ruling on unconstitutionality.

SpaceX and Charter are in talks to collaborate on mobile phone services, with the satellite giant accelerating its entry into the consumer-level communication market.

SpaceX (SPCX.US) and the largest home internet service provider in the United States, Charter Communications Inc. (CHTR.US), have held executive-level discussions and are exploring potential cooperation in the consumer mobile phone business.

"Passing the Test" Successfully: Mythos 5 is granted approval by the US government, $90 billion AI unicorn faces a turning point before going public.

Anthropic PBC has received approval from the US government to partially restore conditional access to its high-performance AI model Mythos 5.

The "core logic" of the continuous decline in US stocks: the downfall of the "maximum weight" Mag 7.

This week, Mag 7 plummeted by 6%, dragging down the Nasdaq by about 4%. At the same time, the market value of Mag 7 evaporated by about $3 trillion this month, and related ETFs dropped by 13% in June, marking the worst monthly performance in history. Despite high investment in AI, the returns are uncertain, and the rise of sectors such as chips and computing power, which benefit from AI, is putting pressure on Mag 7's leadership position. Analysts say this seems more like a liquidation of crowded positions rather than a comprehensive risk-off move, but volatility is expected to continue.

National Bureau of Statistics: From January to May, the profit of the electronic industry increased by 103.9%, contributing 43.1% to the overall profit growth of all large-scale industrial enterprises.

Yu Weining said that the electronic industry's support role is obvious. From January to May, the profits of large-scale equipment manufacturing industry increased by 14.1% year-on-year, driving overall profits of all large-scale industrial enterprises to increase by 5.2 percentage points.

National Bureau of Statistics: Profits of industrial enterprises above designated size in China increased by 18.8% from January to May.

In May, in terms of the profits of the main industries, the profits of non-ferrous metal smelting and rolling processing industry increased by 117.1% year-on-year, the computer, communication and other electronic equipment manufacturing industry increased by 103.9%, the chemical raw materials and chemical products manufacturing industry increased by 71.6%, and the coal mining and washing industry increased by 33.5%.

Apple Inc. (AAPL.US) suffers another major loss: Vision Pro executive joins OpenAI, escalating the competition for talent in the AI field.

Apple Inc. (AAPL.US) core executive in charge of the Vision Pro headsets and smart glasses business, Paul Meade, is set to resign and join OpenAI.

Computer prices are on the rise: Prices of many popular computer models have been significantly increased.

Apple recently announced price increases of up to 16% to 25% in several global markets for certain laptop and tablet models. Prices of popular computer models in the domestic market have also seen significant hikes. At a computer retail store in Huaqiangbei, Shenzhen, the manager introduced a hot-selling gaming laptop to a reporter from CCTV Finance. The retail price of this laptop was around 7,000 yuan when it was launched in July or August last year, but now the price has exceeded 10,000 yuan at the terminal. It was found during the reporter's visit that not only the prices of popular gaming laptops had increased, but also the prices of regular business laptops had generally gone up. Models priced below 4,000 yuan last year are now hard to find, and the price increase for mid to high-end laptops ranges from 500 to 1,500 yuan. Since the fourth quarter of last year, prices of core components such as memory, hard drives, CPUs, and graphics cards have generally risen due to the surge in global demand for AI computing power. Faced with the manufacturers' price adjustment notifications, many distributors have had to frequently adjust terminal retail prices this year.

U.S. technology stocks are collectively under pressure. Is the market replaying the DeepSeek-style shock script?

Jefferies strategist pointed out that the GLM5.2 model launched by SmartBook "performs almost as well as Anthropic, but at only one-fourth of the cost per token", describing the past week as "another DeepSeek moment". The analysis suggests that low-cost AI models will impact enterprise client choices, while shaking the investment logic of AI infrastructure.

Nasdaq announces that SpaceX (SPCX.O) will be included in the Nasdaq 100 Index but needs to meet final eligibility requirements. Funds tracking this index are expected to start buying its stocks after the close on July 6th, before officially being included. SpaceX is expected to enter this tech-heavy index with a weight of less than 1%.

HK Bull/Bear Outstanding Qty Ratio(55:45) | June 27th

As of June 27, the latest bull-bear ratio of the Hang Seng Index is 55:45.

After the US and Iran signed an agreement, the US military fired for the first time, claiming the airstrikes on Iran were in response to attacks on commercial ships in the Strait of Hormuz. The Iranian side claimed to have thwarted the US attack and will respond harshly.

The US military stated that Iran's attack on commercial ships apparently violates the ceasefire agreement, and the US military will continue to provide support for the safe navigation of merchant ships to ensure the "comprehensive and effective" implementation of the agreement. Crude oil prices narrowed their decline, with US oil falling by less than 3%. Iranian media reported that there were explosions at the port in the southern Iranian city of Sirik on Friday night. The Iranian military said they will respond quickly and decisively to the US attacks, and any new "foolish actions" will be met with a harsh response.

Overnight US stocks | The US military launches attacks on Iran, causing the three major indices to fall. Oracle Corporation (ORCL.US) has its worst weekly performance since the bursting of the internet bubble in 2001.

As of the close, the Dow Jones Industrial Average fell 44.51 points, a decrease of 0.09%, to 51,876.11 points; the Nasdaq fell 60.99 points, a decrease of 0.24%, to 25,297.62 points; the S&P 500 index fell 3.47 points, a decrease of 0.05%, to 7,354.02 points.

Goldman Sachs former partner warns: US stock valuations are too perfect, and signs of weakness are emerging in the job market.

Former Goldman Sachs partner and current Columbia Business School professor Abby Joseph Cohen says that the current high valuation of US stocks may be masking the real risks that investors should be paying attention to, especially the signs of weakness in the US job market.

AI market downturn deals heavy blow to speculative products, multiple ETFs plummet. Analyst: Using leverage is no different from "playing with fire."

This week's technology stock plunge not only ended the hottest AI trading trend of the year, but also exposed another side of modern financial market speculation mechanisms. When market sentiment reverses, high leverage investment products built around hot topics will simultaneously amplify the decline.

The stock price of Strategy (MSTR.US) has evaporated by over 80% from its high point, causing its valuation to fall below its holding value. Its financing model is facing a test.

Once considered the most successful bitcoin investment experiment on Wall Street, it is now facing more and more investors' doubts.

OpenAI's plan to postpone its IPO has caused concerns about a cooling of the heat in the AI capital market. Shares of Morgan Stanley (MS.US) and Goldman Sachs Group, Inc. (GS.US) dropped more than 4% at one point.

Morgan Stanley and Goldman Sachs stock prices fell more than 4% on Friday.

AI computing power demand continues to be hot! Amazon.com, Inc. (AMZN.US) Cloud computing business AWS once again raised GPU capacity reservation service prices.

Amazon's cloud computing business AWS announced that it will increase the prices of machine learning-specific EC2 Capacity Blocks reserved capacity services starting from July 1st, involving multiple cloud computing instances equipped with NVIDIA GPUs.

US Stock Market Move | The concept stock of optical communication is falling across the board, with Lumentum (LITE.US) dropping over 9%.

On Friday, stocks related to the concept of optical communication plummeted, with Lumentum (LITE.US) falling more than 9%.

US Stock Market Move | Popular Chinese concept stocks have risen across the board, with shares of CHA.US rising more than 5%.

On Friday, the Nasdaq Golden Dragon China Index rose by 1.05%, popular Chinese concept stocks generally rose, NetEase (NTES.US) rose by over 6%, and HUYA Inc. (CHA.US) rose by over 5%.

US Stock Market Move | IBM (IBM.US) rose nearly 4% with the launch of the world's first sub-1 nanometer chip manufacturing process technology.

On Friday, IBM (IBM.US) surged nearly 4%, closing at $268.35.

Oppenheimer: Physics AI is expected to become the next growth engine. SpaceX (SPCX.US) target price is $250.

Oppenheimer has given SpaceX a target price of $250, which is significantly higher than its current stock price of around $150, suggesting ample room for growth.

A-share evening hotspots | The heaviest penalty in the history of private equity is released! The CSRC strictly deals with illegal cases of Jiuying Asset and Tengchuang Investment.

Recently, the China Securities Regulatory Commission imposed administrative penalties on Shenzhen Qianhai Jiuying Asset Management Co., Ltd., Shenzhen Qianhai Tengchuang Investment Co., Ltd., and related personnel for illegal and irregular behaviors.

US Stock Market Move | Microsoft Corporation (MSFT.US) rose more than 3%, with major bear Burry actively singing praises.

On Friday, Microsoft (MSFT.US) rose more than 3%, closing at $364.45.

Gasoline prices falling ease inflation pressure, US consumer confidence index rose to 49.5 in June, still at historically low levels.

With the falling gasoline prices easing some household spending pressure, consumer confidence in the United States improved in June.

US Stock Market Move | Circle (CRCL.US) rises nearly 6% and will collaborate with Nomura Securities on stablecoin settlement business.

On Friday, Circle (CRCL.US) rose nearly 6%, closing at $72.86.

US Stock Market Move | Netease Inc Sponsored ADR (NTES.US) rose more than 5% as new game "The Forgotten Sea" is expected to be released in July, potentially becoming a catalyst for the stock price to rise.

On Friday, NetEase (NTES.US) rose more than 5%, closing at $120.97.

The Federal Reserve's policy space is being squeezed again! The unexpected increase in the U.S. goods trade deficit in May reached a one-year high, and the second quarter GDP is feared to be dragged down.

Affected by the increase in imports, the U.S. goods trade deficit expanded significantly in May.

US Stock Market Move | Chip stocks fell in general, with SanDisk (SNDK.US) dropping over 7%.

On Friday, chip stocks fell across the board, with SanDisk (SNDK.US) dropping more than 7% and Western Digital (WDC.US) falling more than 6%.

The Philadelphia Semiconductor Index opened down 4%.

SpaceX (SPCX.US) faces pressure from a large new bond issuance, with spreads widening and book value losses exceeding $300 million.

SpaceX's record-breaking bond issuance is rapidly deteriorating in the secondary market, traders say. There are few recent memories of a trade that has seen such a sharp widening of spreads after listing.

AI trading enters "shift period"! Wedbush and Goldman Sachs both speak up: the chip sector is too crowded, and tech giants see a good opportunity for layout.

Wedbush describes the current market as entering a "fuzzy zone," but at the same time points out that opportunities are emerging. Goldman Sachs also indicates that amid the recent intense volatility in semiconductor stocks, large-cap tech stocks may be becoming a more attractive investment theme in AI.

New Stock News | Fosun Pharma Submits Application to Hong Kong Stock Exchange with Focus on Vaccine Business, No Turnaround in Losses during Reporting Period

According to the disclosure on June 26 by the Hong Kong Stock Exchange, Fosun Pharma (Chengdu) Biotechnology Co., Ltd. has submitted an application for listing on the main board of the Hong Kong Stock Exchange.

A-share announcement selection | WuXi AppTec (603259.SH): Completed repurchase of shares totaling 1 billion yuan at an average repurchase price of 103.08 yuan per share.

Yao Ming Kangde announced that the company completed the share repurchase on June 25, 2026, with a total of 9.7012 million A-shares repurchased through centralized bidding trading, accounting for 0.33% of the company's total share capital, and a total fund of 1 billion yuan (excluding transaction costs).

New stock news | Bonesteel Technology's Hong Kong Stock IPO approved by China Securities Regulatory Commission, adding another benchmark for hard technology going abroad.

With the mutual empowerment of capital and technology, the company will rely on the international capital platform of the Hong Kong stock market to continue deepening the research and development of robot bodies and underlying power technologies, and promote the deep implementation of direct drive technology and wheeled robot technology in the field of embodied intelligence.

OpenAI's first self-developed AI chip makes its debut. Wedbush warns that large-scale commercial use will require multiple rounds of design iteration.

This Wednesday, OpenAI released its first custom AI inference chip, Jalapeo. Wedbush Securities believes that this is just the beginning of its multiple self-developed chips.

Unilever PLC Sponsored ADR (UL.US) is considering a potential $4 billion acquisition of the health supplement giant Thorne as part of its health transformation strategy.

Unilever is considering acquiring health supplement manufacturer Thorne for up to $4 billion.

New stock news | Fosun Antaeus filed with Hong Kong Stock Exchange

According to the Hong Kong Stock Exchange on June 26, Fosun Pharma (Chengdu) Co., Ltd. has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and Fosun International Capital as its joint sponsors.

Legendary investor Grantham sounds the AI alarm: evacuate from US stocks, an epic crash is imminent.

Legendary investor and co-founder of Boston asset management company GMO, Jeremy Grantham, has once again issued a warning about market bubbles, stating that the current situation is experiencing "the largest bubble in American history".

New stock news: Edtech Technology and Sino Medical Sciences Technology Inc. (688108.SH) and other Hong Kong IPOs have submitted their materials to the China Securities Regulatory Commission.

Yuanxin Technology, AideTai Technology and other Hong Kong IPO materials have been accepted by the China Securities Regulatory Commission.

DraftKings (DKNG.US) launches "Sports + Predictions" super app, seizing the betting opportunities of the World Cup and NFL season.

DraftKings launches "betting + prediction" super app, Wall Street analysts bullish on it.

New stock news | HozTech plans to list on the Hong Kong stock exchange. The China Securities Regulatory Commission requires an explanation on the situation of controlling shareholders' equity held by representatives.

The China Securities Regulatory Commission requires Xia Technology to provide a detailed list explaining the situation of stock rights held in trust by the controlling shareholder in the past. This list should include the names of both parties involved in the trust, the percentage of stock ownership held in trust, the start and end dates of the trust, and whether there are any major ownership disputes concerning the stock rights held by the controlling shareholder.

New stock news | Xintianxia plans to list on the Hong Kong stock market. The China Securities Regulatory Commission requires supplementary explanations on the pricing basis for previous capital increases and equity transfers.

The China Securities Regulatory Commission requires Xintianxia to provide additional explanations on the prices and pricing basis of each previous capital increase and equity transfer, whether there are any abnormal stock entry prices, and whether there is any profit transfer.

New Stock News | Jing Solid Control Plans to List in Hong Kong, China Securities Regulatory Commission Requires Explanation for Withdrawing A-share ChiNext Listing Application

The China Securities Regulatory Commission requires Jian Shi Testing and Control to provide supplementary explanations for the reasons of withdrawing the A-share listing counseling record and submitting the listing application to the Shenzhen Stock Exchange ChiNext board in advance, whether there is any significant impact on the issuance and listing in this case, etc.

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