A-share pre-market report | Global assets plummeted! Gold and silver collectively sharply decline. The two sessions open today! Institutional outlook with three major highlights.

Pre-market news 1. Global assets plummet, European and American stock markets close lower! Gold and silver collectively plunge, Chinese concept stock index drops more than 3% Type: Market Sentiment impact: Negative Overnight, major US and European stock indices closed lower, with the US Chinese concept stock index falling more than 3%. Most large technology stocks fell, with the Nasdaq China Golden Dragon Index falling by 3.3%. On Wednesday morning, the Nikkei 225 index fell below 55,000 points, with an intraday decrease of 2.31%. The South Korean KOSPI index's decline expanded to 6%. Spot gold fell by more than 4%, while spot silver dropped by 8.17%. The US State Department issued six evacuation orders early on the 3rd, requiring non-essential government personnel in Jordan, Bahrain, Iraq, and other countries to evacuate. 2. The Two Sessions open today! What are the highlights of the National Two Sessions in 2026? Three major points of institutional foresight Type: Macro Sentiment impact: Positive Liu Jiye, the spokesperson for the National Committee of the Chinese People's Political Consultative Conference, introduced that the fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference will open at the Great Hall of the People at 3 pm today and close in the morning of March 11, with a duration of 7 days. Three major points of institutional foresight: first, institutions generally expect the GDP growth target to be 4.5% to 5.0%; second, they expect to continue to exert efforts to expand domestic demand and promote consumption; third, they will continue to strengthen the governance of "involution" competition. 3. Concerns about crude oil! Exchanges take action to cool down, "Three Oil Giants" and other stocks issue batch risk warnings Type: Industry Sentiment impact: Neutral In recent times, the international crude oil market has been affected by multiple factors such as geopolitical conflicts, leading to a significant short-term increase in international oil prices. On the evening of March 3, the Shanghai Futures Exchange, Shanghai International Energy Exchange, and Zhengzhou Commodity Exchange issued announcements regarding the latest market operation of crude oil, fuel oil, low-sulfur fuel oil, shipping index (European line), and methanol futures, and implemented relevant risk control measures. Petrochina, China Petroleum & Chemical Corporation, CNOOC Limited, and other stocks have successively issued risk warning announcements. 4. Trump orders to protect maritime trade in the Gulf region, narrowing the oil price increase in the market Type: Market Sentiment impact: Negative US President Trump announced a dual measure to respond to the energy supply crisis caused by the US military strikes against Iran, pledging to provide political risk insurance to commercial ships passing through the past Gulf region, and to deploy the navy to escort oil tankers through the Strait of Hormuz when necessary. After the news was announced, US oil quickly narrowed its gains. However, market participants remain cautious about whether these measures can restore normal oil flow through the Strait of Hormuz in the short term. Investment Calendar Official Manufacturing PMI for China in February Investment Tips Investment Tips: We may never know where to go, but it's best to understand where we are. - Howard Marks, "The Most Important Thing about Investing" Institutional Views 1. Orient Securities: Do not be shaken by short-term fluctuations and adjustments, the A-share market still has room for expansion. 2. Changjiang Securities: The market in March is the second half of the "spring frenzy", with the market likely to maintain a trend of oscillating upside. 3. Orient Securities: The medium-term trend of the Shanghai Composite Index is still in a box consolidation, and the market will continue to challenge the vicinity of 4200 points after repeated fluctuations. Positive and Negative Prospects 1. Mitsubishi Gas Chemical raises prices of copper foil CCL and other products by 30%, sector valuation expected to improve 2. Strong demand for AI, US invests $750 billion in "ultra-high voltage power transmission" 3. Qianwen App surpasses 200 million monthly active users, institutions focus on benefiting from the industrial chain Announcement Express Slightly positive announcements 1. Biwin Storage Technology: Estimated profit for January-February is 1.5 billion to 1.8 billion yuan, storage industry in short supply 2. Jiangsu Hengrui Pharmaceuticals: Spends 3398.21 million yuan on repurchasing 630,000 shares of A-shares on March 3 3. China Jushi Co., Ltd: Shareholder Zhenshi Group's increase holding plan is completed, cumulative amount of increase holding is 1.1 billion yuan Slightly negative announcements 1. Xinjiang Zhundong Petroleum Technology, which has had two consecutive rises, and its subsidiaries have no oil and gas production business or overseas business 2. Haimo Technologies Group Corp.: Middle East region's operating income accounted for 41.31% from January to September 2025, continued tension in the Middle East may have an adverse impact on performance 3. Xinjiang Hongtong Natural Gas: Shareholder Tian Hui reduced its stake by 1% Overseas Markets Selected Brother's Reminder: Escalating Middle East conflict raises inflation concerns, leading to a collective decline in the three major US stock indices. On the market, most large technology stocks fell, with Micron Technology falling by about 8% and Intel falling by over 5%; the Chinese concept stock index fell by more than 3%, with Alibaba dropping by nearly 5%. This article is reprinted from "Tencent Stock Selection". Editor: Jiang Yuanhua.