GMT EIGHT - Stocks - China Stock

Sinolink: Focus on Three Core Devices as Optic Modules Evolve towards High-Speed Rates and CPOadvancements.

The optical module is evolving towards high data rates and integrated packaging with photonics components, emphasizing three core equipment - coupling, testing, and mounting.

Guosheng: PIC reshapes the optical communication industry landscape and is expected to open up the entire scene of optical interconnection space.

PIC is the inevitable path for the long-term development of the optoelectronics industry, and its design capability and process accumulation will become the core barrier.

Guosheng: Liquid cooling transitions from expectations to mass production, opening a double inflection point for NV + CSP.

Liquid cooling has moved from the expected stage to the landing and delivery stage. It is recommended to focus on liquid cooling manufacturers who have a stable share in the NV platform and top CSP supply chain, and have system-level delivery capabilities.

CITIC SEC: In March, housing prices in many areas stopped falling and rebounded, and the industry's prosperity cycle is expected to restart.

In March 2026, in 70 large and medium-sized cities, prices of new and second-hand homes in more than 10 cities increased compared to the previous month. Although it will take some time to digest the supply, the real estate market has sent a positive signal, which is of great significance in boosting confidence among home buyers.

CITIC SEC: AI drives the rise in both quantity and price of laser chip, focusing on new opportunities for domestic production.

The laser chip industry will benefit from the increase in value brought about by the Scale-out/Scale-up network super node expansion and technological generational changes, ushering in enormous development opportunities.

Shareholders of HuNan Boyun New Materials (002297.SZ), Hunan Xiangtou Gaichuang Investment's shareholding ratio dropped to below 5%.

Boyun New Materials (002297.SZ) announced that the company's shareholder Hunan Xiangtou Gaoke Technology Venture Investment Co., Ltd. (referred to as "Gaoke Investment") has reduced its holdings of the company's shares by 4.072 million shares through centralized bidding trading from April 14, 2026 to April 16, 2026, accounting for 0.71% of the company's total share capital. After this equity change, Gaoke Investment holds 28.6552 million shares of the company, accounting for 4.999993% of the total share capital, no longer being a shareholder holding more than 5% of the company's shares.

Selected A-share announcement | China Northern Rare Earth (600111.SH) net profit in 2025 was 2.3 billion yuan, a year-on-year increase of 124%.

Jinlongyu (300999.SZ): The net profit for the fiscal year 2025 is 3.153 billion yuan, a year-on-year increase of 26.01%.

Due to false records in the annual report and fraudulent issuance, Gao Hong Corporation was fined 135 million by the Securities Regulatory Commission, and relevant personnel were banned from the market.

Due to false records in the annual report and fraudulent issuance, Gao Hong Co., Ltd. was fined 135 million by the China Securities Regulatory Commission, and related personnel were banned from the market.

The controlling shareholder of Lens Technology (300433.SZ), belonging to the Qunxin company, plans to increase its holdings by at least 100 million yuan.

BlueThink Technology (300433.SZ) announced that on April 17, 2026, the company received a written notice from Changsha Qunxin Investment Consulting Co., Ltd., controlled by the actual controlling shareholders Ms. Zhou Qunfei and Mr. Zheng Junlong. Qunxin Company intends to increase its A-share holdings of the company through centralized bidding, with a minimum amount of 1 billion yuan and no price range set. The implementation of this plan will be completed within 6 months from the disclosure date.

EverProX Technologies (300548.SZ) terminated the acquisition of equity in Shanghai Honghui Guangli Communication.

Changxin Bochuang (300548.SZ) announced that the company previously announced its intention to acquire 93.8108% of the shares of Shanghai Honghui Optical Communication Technology Co., Ltd. (referred to as "Honghui Optical Communication") held by Shanghai Honghui Guang liantong Technology Co., Ltd.

CSRC approves Zhensheng Technology to list on the Shanghai Stock Exchange Science and Technology Innovation Board for IPO registration.

On April 17th, the China Securities Regulatory Commission issued the "Approval of the Chongqing Zhenbao Technology Co., Ltd.'s initial public offering of shares registration."

Guotai Haitong: The race of self-redemption worth billions welcomes the intergenerational succession, MNC accelerates to seize the next generation pipeline.

Self-protection medication is a key cornerstone of MNC's current business; as patents are about to expire, MNC is accelerating the deployment of the next generation of self-protection pipeline.

Huachuang Securities: One-time endoscope has differentiation advantage, penetration rate improvement drives market expansion.

According to Ambu's calculation, the global market space for disposable endoscopes is estimated to be around 8 billion US dollars in the long term (corresponding to a penetration rate of 70% in respiratory, urology, and otolaryngology disposable endoscopes).

Hunan Junxin Environmental Protection (301109.SZ) won the bid for the construction project of the West Bank Municipal Solid Waste Incineration Power Plant in Changsha City.

Jiuxin Co., Ltd. (301109.SZ) announced that the company has received the "Bid Notification" from the Urban Management and Comprehensive Law Enforcement Bureau of Wangcheng District, Changsha City, confirming the company as the winning bidder for the "Changsha Hexi Household Waste Incineration Power Plant Project (including the franchise rights for household waste incineration power generation)" with a total estimated investment of 2.852 billion yuan.

Yiwu Huading Nylon's shareholder, Yiwu Economic Development Zone, plans to transfer 6% of the company's shares through public tendering.

Huading Group (601113.SH) announced that its shareholder, Yiwu Economic and Technological Development Zone Development Co., Ltd. (referred to as "Yiwu Development Zone"), intends to transfer 66.2554 million unrestricted tradable shares of the company through public solicitation of transferees, accounting for 6.00% of the total share capital of the company.

Zhongjin: The year-on-year decline in March's new home sales narrowed, and the supply side of the second-hand housing market in core cities performed better than the same period last year.

In March, the year-on-year decline in new home sales narrowed, while second-hand home transactions were active.

LUSTER LightTech (688400.SH) participated in the listing of its holding company, Chuangxin Technology, on the Hong Kong Stock Exchange on April 17th.

Lingyun Guang (688400.SH) announced that the company's affiliate, Changchun Changguang Chenxin Microelectronics Co., Ltd. (referred to as "Changguang Chenxin"), was officially listed on the Hong Kong Stock Exchange on April 17, 2026. The company holds a total of 37.829 million shares in Changguang Chenxin, accounting for 8.69% of its total shares issued after the listing (excluding the impact of the over-allotment option).

Huabei Mining Holdings (600985.SH) resumes production at Xinhuhu Coal Mine in Bozhou.

Huai Bei Mining (600985.SH) announced that the previously affiliated Anhui Bozhou Coal Industry Co., Ltd. ("Bozhou Coal Industry") experienced water inflow at the 815 working face of the Xinhui Coal Mine, forcing the mine to suspend production. On April 14th-15th, 2026, the Bozhou Municipal Development and Reform Commission, together with the Anhui Energy Bureau, the Anhui Bureau of National Mine Safety Supervision, the Bozhou City Natural Resources and Planning Bureau, the Bozhou City Public Security Bureau, and relevant experts conducted on-site acceptance of the resumption of work and production at the Xinhui Coal Mine. On April 16th, 2026, the Xinhui Coal Mine received a notice from the Bozhou Municipal Development and Reform Commission approving the resumption of work and production at the Xinhui Coal Mine starting from April 16th, 2026.

Guosen: The holiday season is helping to boost sector prosperity, and we continue to have a positive outlook on high-quality companies in niche markets.

The current policy is making efforts to boost the development of domestic demand by optimizing holidays, expanding scenarios, and increasing capacity in multiple dimensions.

Caitong: Power grid investment sees a good start as direct current infrastructure construction accelerates.

Grid investment plays a countercyclical regulatory role, and ultra-high voltage investment remains a current priority.

A-share closing review: Shanghai Composite Index fell by 0.1%, market style divided, computing power hardware stocks surged.

As of the closing, the Shanghai Composite Index fell 0.10% to 4051.43 points, with a turnover of 1.0135 trillion yuan; the Shenzhen Component Index rose 0.60% to 14885.42 points, with a turnover of 1.4121 trillion yuan.

Minmetals Securities: China's industrial and energy metal mines have relatively high external dependence. In 2026, the emphasis will be on core metal varieties.

China holds an important position in the production of basic metals, but still faces significant challenges in terms of resource sustainability.

HAITONG INT'L: Zimbabwe lifts ban on lithium concentrate exports, quota system to temporarily ease supply constraints.

The Zimbabwean government recently made an important adjustment to its lithium ore export policy, granting export quotas to six large lithium concentrate producers, while "softly lifting" the export ban implemented in February of this year.

GF SEC: Domestic sales of excavators increased by 23.5% year-on-year in March. The electrification of engineering products has further developed iteration.

In every cycle of construction machinery, there are new changes and new logic. The basic trend of the industry both domestically and internationally is on the rise, while incremental logic such as mining machinery, electrification, and cash flow will further reshape enterprise valuations.

Open source Securities: The fundamentals of the real estate industry are still at the bottom, and first-tier cities are leading the way in stabilizing.

With the continuous implementation of loose policies and the concentrated launch of new properties by real estate companies, it is expected that the decline in sales data will continue to narrow. The second quarter may be a window of opportunity for the industry's fundamentals and policies to resonate, and sector valuation is expected to continue to improve.

Guosheng: Steel production declined in the first quarter, and direct steel exports fell.

In the first quarter, direct exports of steel fell, while indirect exports remained strong.

Shenwan Hongyuan Group: Increasing demand for AI computing power exacerbates power supply gap, opening up growth opportunities in the gas engine market.

The structural electricity gap in North America's AIDC is worsening, and a high-reliability, fast-response, and distributed deployment of power supply is the key to breaking the deadlock.

Pacific Securities: The performance of non-mining sales in March has shown differentiation, and exports overall maintain a relatively high growth rate.

Looking ahead, the bank believes that with the continued favorable policies in the industry and the overlapping renewal cycle of construction machinery, it continues to be optimistic about the future domestic demand.

A-share market midday report | The ChiNext Index rose 0.82% in half a day! How to respond to the style change from "drinking and drug use" to "embracing computing power"?

The three major stock indexes in China have mixed movements, with the Shanghai Composite Index weakly fluctuating and the ChiNext Index rising more than 1% during intraday trading.

GF SEC: In the aviation industry, the passenger load factor in the first quarter of 2026 was impressive. The demand in April continued to show resilience, while the supply was marginally tightening.

In March, the industry's demand growth rate exceeded the supply growth rate, and the passenger load factor increased to a high level year-on-year, especially the growth rate of domestic routes expanded, while the supply-demand gap widened further on international routes.

Guosen: Continues to be optimistic about the performance of the gaming and IP industry, focusing on the opportunities at the bottom of the AI application.

GEO reconstructs traffic and content service ecosystem, accelerates the progress of multimodal technology, and reduces costs and increases efficiency in fields such as AI animation, games, etc.

Huachuang Securities: Public Fund Industry will continue the trend of multiple businesses progressing simultaneously in 2026, and investment opportunities are expected to increase.

The industry believes that the development of actively managed equity public funds in China has taken three completely different paths: first, focusing on core tracks and firmly acting as tools, with the IP value of products starting to outweigh the IP value of "star fund managers"; second, continuing to adhere to pricing for talent, refining the stock selection capabilities of fund managers across the market; and third, comprehensive industrialization and balance, building a complete product container system.

Orient: Hainan outlying island duty-free shopping continues to warm up, optimistic about the duty-free sales performance in the second and third quarters.

Due to the off-peak season for tourism and duty-free sales in Hainan from April to September, the bank believes that this year's Q2-Q3 will still benefit from the lower base effect due to weak consumption during the same period last year.

HuaYuan Securities: Focus on the opportunity of new substrates in the molecular degradation glue track, the increase lies in new target proteins and differentiated disease areas.

The company believes that the CRBN-IKZF1/3 pathway has been largely targeted by multinational pharmaceutical companies, with China or possibly more being the focus of the competition.

Soochow: The sanitation industry actively laying out intelligent and unmanned operations, with the potential to accelerate growth in 2026-27.

The main driving factors for reducing equipment costs include technological changes in hardware, scale production, domestic substitution, and the dilution of software/algorithm development costs after scale.

Haitong: The path to a trillion self-immune race welcomes intergenerational change, with MNCs accelerating their entry into the next-generation pipeline.

Even though the first generation of self-dosing single products have many limitations in terms of efficacy and compliance, they still maintain good sales performance in the global market, giving birth to several billion-dollar blockbuster products, demonstrating the excellent development potential of the self-dosing market.

China Galaxy Securities: High-speed optical module volume expands, optimistic about core testing instruments.

Domestic manufacturers of electrical testing instruments are expected to fully benefit from the incremental market space brought by the commercialization and scale production of high-speed optical modules.

A-share opening express | A-share differentiation, Growth Enterprise Board continues to rise! Style switch in progress, "new king" and "old god" competing

On April 17, the three major A-share indexes opened with mixed gains and losses, with the ChiNext Index continuing its upward trend. The market style is changing, with a showdown between the "new king" and the "old god."

Sinolink: 2-nitro-3-methylbenzoic acid is included in the list of hazardous chemicals. The industry chain may face accelerated reshuffling.

For production enterprises, future investments in safety equipment, personnel training, storage and transportation costs of hazardous chemicals may increase overall. At the same time, production capacity will concentrate towards compliant leading companies, which may indirectly lead to passive contraction in the downstream supply of chloroacetanilide industries. This will optimize the industry's supply and demand structure while also benefiting the recovery of product prices and economic prosperity.

Guosen: Clothing retail in March continues the high prosperity trend, optimistic about the brand targets with high domestic demand prosperity and high dividends.

Suggest focusing on high-quality contract manufacturing leaders with historically low valuations. The negative impact of subsequent tariffs, exchange rates, and rising raw material prices is expected to be alleviated, leading to a recovery in the market.

CICC: Penetration rate of freshly made tea beverages continues to increase, with controllable competition intensity in the short to medium term.

Some top brands are expected to achieve better performance than the industry in the same store and realize certain new store openings, while small and medium-sized brands and individual businesses are facing a trend of continued clearance due to weaker overall operational capabilities.

Soochow: The sales of power batteries and energy storage are booming, and production and sales are continuing to rise with increasing benefits.

In 26 years, global electric vehicle sales have increased to 23.3 million units, a year-on-year growth of +10%. Taking into account the increase in the energy capacity of each vehicle, the bank predicts that the demand for power batteries will be over 1700GWh, maintaining a growth of over 20% year-on-year.

GMTEight List of A-share restricted sales and lifting restrictions | April 17th

Je suis dsol, je ne parle pas franais.

Pre-market report of A-shares | First quarter performance skyrockets! Technology stock batch reported good news, 90 billion computing power leader exploded.

On the evening of April 16, technology stocks received a series of positive news, with first-quarter performances exploding collectively.

CITIC SEC: Major adjustment on drug pricing mechanism, intensive period of policy reform in medical and health industry.

The policy reform of the healthcare industry has entered a intensive period. It is recommended to continue to pay attention to the investment opportunities in the healthcare industry driven by policies.

Victory Giant Technology (300476.SZ): The final price for the issuance of H shares is 209.88 Hong Kong dollars per share.

Shenghong Technology (300476.SZ) announced that the company has determined the final price of the H-share issuance to be 209.88 Hong Kong dollars per share (excluding 1% brokerage commission, 0.0027% Securities and Futures Commission trading levy in Hong Kong, 0.00565% Hong Kong Stock Exchange trading fee, and 0.00015% Hong Kong Financial Reporting Council trading levy). The H-shares issued this time are expected to be listed on the Main Board of the Hong Kong Stock Exchange and start trading on April 21, 2026.

CITIC SEC: Copper clad laminate prices continue to rise, optimistic about future profit growth elasticity.

Copper-clad laminate is a sector that combines both price increases and AI demand logic. From the second quarter of 2026 to the second half of the year, there is a potential for price increases and duration that exceed expectations.

Brokerage Morning Meeting Highlights | The explosion of token volume has led to a shortage of computing power. Domestic computing power is accelerating penetration in the inference end.

Citic Securities believes that the explosion of tokens has led to a shortage of computing power, and domestic computing power is accelerating breakthroughs in the inference end.

A-share evening hotspots | First quarter performance skyrockets! Zhongji Innolight and other technology bull stocks report good news in batches.

Zhongjixuchuang released its first quarter report, the company achieved a net profit of 5.735 billion yuan in the first quarter, a year-on-year increase of 262.28%, and a quarter-on-quarter growth of 56.45%.

Selected A-share Announcements | Yonghui Superstores (601933.SH) net profit in the first quarter increased by over 90%. Biwin Storage Technology (688525.SH) multiple shareholders intend to reduce their holdings.

Baiwei Storage announced that shareholders Sun Jing, Shenzhen Baiseng, Shenzhen Baitai, Shenzhen Taidesheng, and Shenzhen Fangtailai plan to reduce their holdings in the company.

Seeking Coverage

Being Writer

Exploring Cooperation