A-share evening focus | TSMC starts "4-year consecutive growth" plan! 5nm chip increase exposure

1. Huang Renxun: We underestimated China, which produces millions of AI chips every year Importance: Nvidia CEO Huang Renxun said on November 3 that the United States initially underestimated China's potential in the development of the technology industry. Now, China is able to rely entirely on its own industry rather than U.S. technology. According to reports, Huang Renxun said, "We underestimated China's ability to accelerate the development of its own technology industry. They now produce millions of artificial intelligence (AI) chips annually." Comment: We should acknowledge the progress made by China, but also recognize that there are still some gaps between us and advanced industries abroad. Therefore, it is important to listen to both positive and negative opinions and focus on developing ourselves. 2. TSMC initiates "4-year consecutive price increase" plan, response received Importance: Recently, there have been reports that TSMC has been informing customers since September of a plan to increase prices consecutively for four years starting in January 2026 for advanced processes below 5 nanometers, with an average increase of about 3%-5%. On November 3, TSMC responded to inquiries by stating that the company does not comment on market rumors and pricing issues. However, TSMC also reiterated that the company's pricing strategy is always guided by strategy rather than opportunism, and they will continue to work closely with customers to provide value. Comment: This long-term pricing strategy adopted by TSMC has led many investors to believe that the storage sector can continue to thrive. The early initiation of price negotiations by TSMC is attributed to the continuous supply and demand gap for AI and computing chips. 3. Gold price fluctuations combined with tax adjustment, ICBC savings gold business temporarily suspended and restored in one day Importance: On the evening of November 3, Industrial and Commercial Bank of China announced that it has resumed accepting applications for the Yousi gold savings business, including account opening, active savings, new regular savings plans, and applications for physical withdrawals. The bank had just issued a notice earlier in the day to temporarily suspend the acceptance of related products. Similarly, China Construction Bank Corporation also announced the suspension of services such as Easy Gold; and China Minsheng Banking Corp., Ltd. adjusted the trading hours for savings gold. Comment: The suspension in the morning and the restoration in the evening seem like a sudden change. While system adjustments are necessary, banks should communicate these changes in advance to minimize potential impacts on investors.