Pre-market update on A-shares: Chinese assets surge in the late night, with the Chinese concept stock index rising more than 4%. Gold and silver both skyrocket to refresh highs.

Pre-market News 1. Dow, S&P hit new highs! Chinese assets strengthen, Chinese concept stocks index rises more than 4%, Alibaba rises more than 10% Type: Market Sentiment impact: Positive On Monday, U.S. stocks hit new closing highs driven by the strength of technology stocks, as investors shrugged off concerns over the criminal investigation by the U.S. Department of Justice into Federal Reserve Chairman Powell. The Dow Jones Industrial Average and S&P 500 Index both reached new closing highs. Apple announced a major upgrade to Siri with Gemini, and Google's market value broke $4 trillion for the first time. Space concept stock Planet Labs rose more than 12% to hit a new high. The Nasdaq Golden Dragon Index rose by 4.26%, and Alibaba rose over 10%. 2. Gold and silver soar to new highs, U.S. Fed turmoil triggers safe-haven trades Type: Industry Sentiment impact: Positive During the New York session on Monday, precious metal prices surged. Spot silver rose by 8%, surpassing $86, and spot gold rose by 2.4% to exceed $4600 per ounce, both setting new historical records since December 2025. Analysts believe that the primary factor driving the strength of precious metals is the "Trump administration's increased attacks on the Federal Reserve," leading investors to reduce their investments in U.S. assets. 3. AI applications, commercial space stocks warn of risks! Nearly 30 companies issue profit warning announcements Type: Company Sentiment impact: Negative On the evening of January 12th, multiple stocks related to AI applications and commercial space warned of risks, with companies like Inly Media Co., Ltd., Geovis Technology Co., Ltd., China Spacesat, etc., announcing the risk of stock prices diverging from fundamentals. At the same time, nearly 30 listed companies concentratedly issued profit warnings for 2025, including Zhongfu Straits and other 2025 big winners. Institutions unanimously believe that the A-share market will continue its slow bullish trend in 2026, but returns will depend more on profit growth, with profit being the key driver of investment. 4. China suspends review of export permits for rare earths to Japan? Ministry of Foreign Affairs responds Type: Industry Sentiment impact: Neutral On January 12th, Foreign Ministry spokesperson Mao Ning hosted a regular press conference. Regarding China's export permits for rare earths to Japan, it was reported that the review of rare earth export permits to Japan, including for civilian purposes, has been suspended. Chinese companies have notified some Japanese companies that they will no longer sign new rare earth contracts. In response, Mao Ning stated that China's measures are entirely legitimate and in accordance with the law. Investment Calendar US December CPI data Investment Tips Investment Tip: Excellent character is more important than a big brain, strict control of irrational emotions, remain calm and disciplined, be indifferent to losses and misfortunes, and don't let excessive joy cloud your judgment. - Charlie Munger Institutional Perspectives 1. Huatai: The spring market may still have room for growth under the strong momentum effect, but the probability of the market turning to rotation is increasing. 2. Huaxi: Seize the opportunity to go long, the bull market trend may continue, focusing on the diffusion of the technology theme trend. 3. Orient: Historically, increased trading volume can lead to market fluctuations, caution against the risk of hotspots falling back. Bullish and Bearish Forecast 1. Zhejiang plans to follow up on the construction of the fourth generation Beidou system, with the industry scale continuing to expand Type: Policy Focus Guotai Haitong: The Beidou system, with its technological leadership and continuous policy drive, has developed energy potential in multiple fields. Optimistic about the integration of "Beidou+" innovative technologies to construct differentiated digital intelligence enterprises in specialized fields. 2. Li Hong No. 1 spacecraft completes its first sub-orbital flight test, returnable payload cabin lands successfully and completes recovery Type: Institutional Hot Comment Sinolink: China has explicitly listed aviation and aerospace as a key direction for the development of strategic emerging industry clusters in the "14th Five-Year Plan". Recently, the intensive launch of reusable rockets, the trend of commercial space industry has reached a pivotal moment. 3. News suggests that Qiang Nao Technology has submitted a Hong Kong IPO application, a person close to the company confirms: it is true Type: Market Hot Topic Guosen: Brain-computer interface has entered a key point of "technological breakthrough to commercialization transition," anchoring the three main lines of "policy + technology + scene." The expectation of Neuralik's mass production combined with domestic clinical breakthroughs is expected to lead to explosive market growth. Announcement Express Slightly positive announcements 1. WuXi AppTec: It is expected that the net profit for 2025 will be 19.151 billion yuan, a year-on-year increase of approximately 103% 2. Wus Printed Circuit: Plans to invest $300 million in high-density optoelectronic integrated circuit board project 3. Shenzhen Vital New Material: Signs a strategic cooperation agreement with Siasun Robot & Automation Slightly negative announcements 1. Hainan Drinda New Energy Technology: Controlling shareholder Jindi Technology plans to reduce its holding of the company's shares by no more than 3% 2. China Nuclear Engineering Corporation: Shareholder CHINA CINDA sold 7.8666 million shares from January 7th to 9th 3. Nanxing Machinery: As of January 12th, the controlling shareholder Nanxing Investment collectively reduced its holding by 3.669 million shares Overseas Markets Self-selected Brother Tip: U.S. stocks closed higher on Monday, driven by the strength of technology stocks and retail giant Walmart's share price, with both the Dow and S&P setting new closing highs. Google Class A rose by 1%, closing the market value above $4 trillion; Chinese concept stocks index rose more than 4%, with Alibaba surging 10%. This article is reproduced from "Tencent Self-selected Stocks", GMTEight Editor: Li Fo.