Pre-market report on A-shares | Trump starts his visit to China, accompanying CEOs of companies exposed. US chip stocks generally pull back.

Pre-Market News 1. Trump kicks off his visit to China, U.S. media reveals list of accompanying corporate executives: including Cook, Musk Category: Macro Sentiment impact: Neutral From May 13th to 15th, Trump kicked off his visit to China. U.S. media revealed the business leaders who accompanied Trump to China, including Apple CEO Cook, Tesla founder Musk, and Boeing CEO Kelly Ortberg. Previously, Reuters disclosed the name Huang Renxun was not on the list, while Musk, who is rarely discussed in the outside world, made it onto the list. 2. Inflation heats up and pressure on the market from the Iran situation causes a general pullback in chip stocks and optical communication concepts in U.S. stocks Category: Market Sentiment impact: Negative Due to higher-than-expected inflation data for April in the U.S., as well as the increasingly fragile ceasefire situation between the U.S. and Iran, the three major U.S. stock indices have mixed ups and downs. The chip and semiconductor equipment sectors generally fell on Tuesday, with the Philadelphia Semiconductor Index falling by over 3%, with a drop of nearly 7% at one point. Qualcomm fell by over 11%, marking its worst single-day performance since March 2020; optical communication stocks collectively pulled back, with Lumentum and Credo falling by over 5%. 3. MSCI China Index Adjustment: New additions include Advanced Fiber Resources, Yangtze Optical Fibre And Cable Joint Stock, while excluding OFILM Group Co., Ltd Category: Company Sentiment impact: Neutral The international index compilation company MSCI announced the results of its quarterly index adjustment for May 2026, which will take effect after the close on May 29th. Of note, the MSCI China Index new additions include Advanced Fiber Resources, Yangtze Optical Fibre And Cable Joint Stock, and Shengke Communication among 22 stocks; while OFILM Group Co., Ltd, Shenzhen Goodix Technology, and Goneo Group are among 24 stocks being removed. 4. SASAC deploys focus of Central Enterprises' "14th Five-Year Plan" work, deploying a batch of landmark projects in forward-looking industries among other directions Category: Macro Sentiment impact: Positive The Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held a special meeting to review and deliberate on the preparation of the "14th Five-Year Development Plan for Central Enterprises." The meeting emphasized strengthening project traction, deploying a batch of landmark projects in directions such as strengthening the foundation and filling the shortcomings in the industrial chain, ensuring energy and resource security, and layout in forward-looking industries in stages to cultivate new driving forces for high-quality development. Investment Calendar U.S. President Trump visits China Investment Tips Investment tip: Success is not about perseverance. The key to success lies in choosing the right things to persevere with and quitting other things. by Anne Duke, "Mastering Timing" Institutional Views 1. China Securities Co., Ltd.: Seize structural themes in differentiated recovery, focusing on consumer, technology, and resource security investment opportunities. 2. Huajin Securities: Policy support and the upward trend of the technology cycle may continue to favor some cyclical industries in May-June. 3. China Galaxy: The overall upward trend remains unchanged, and the rotational structural market within the sector will continue to be the main operational feature. Positive and Negative Expectations 1. POP MART's performance explodes! Revenue growth reaches 80%, recommended by Duan Yongping before Category: Market hot topic CITIC SEC: Bullish on the continuous advancement of the AI industry and the drive of IP commercialization on the media sector, recommending a focus on topics such as rice economy, AI toys, and animated films. 2. Tech giants compete for space computing power! Google reportedly in talks with SpaceX to launch orbit data centers Category: Market hot topic Huafu Securities: 2026 is expected to be a critical turning point for the industrialization of space computing power. Launching and networking precede operational services, so the revenue and profit realization rhythm in upstream manufacturing, launch, payload, etc., typically occur earlier than downstream platforms. 3. Anthropic is reportedly seeking $300 billion in financing, with a pre-investment valuation of over $900 billion Category: Market hot topic In the mid-term, high prosperity areas such as technology growth in industry trends remain important directions. With policy support and resonance in industrial breakthroughs, AI technology continues to be the mainline industry in A-shares, with attention to AI applications, computational hardware, and upstream energy and power sectors. Announcement Express Slightly Positive Announcements 1. Beijing Hengyu Datacom Aviation Equipment: Intends to purchase 100% equity of satellite navigation company Shendao Technology, with stock resumption 2. Jiangsu Ankura Intelligent Electric: Signs a solid-state transformer (SST) research and development cooperation agreement with Xingchen Waterfall 3. Jangho Group: Wins the bid for approximately 865 million yuan for the second phase of Binhai Bay Sands Hotel and the curtain wall project in Shenzhen Qianwan area Slightly Negative Announcements 1. Leedarson IoT Technology Inc.: Shareholders and executives intend to collectively reduce their holdings by no more than 2.99% of the company's shares 2. Jiangsu Seagull Cooling Tower: Cooling tower business from the nuclear power sector did not generate revenue in 2025 3. Metro Land Corporation: The target company that is proposed to be acquired is still in a loss state for the 2025 fiscal year and the first quarter of 2026 Overseas Market Self-selected Brothers Reminder: Inflation heating up and pressure from the Iran situation are affecting the market, with the three major stock indices showing mixed results. On the market, most tech giants are trending lower, with Tesla down by 2.6%, Microsoft down by 1.18%; optical communication, chip, and semiconductor equipment sectors generally falling, Qualcomm dropping by over 11%, Intel, and SanDisk down by over 6%, Lumentum, and Credo down by over 5%. This article is a reprint from "Tencent Self-selected Stock," edited by Jiang Yuanhua.