A-share pre-market report | Yushu Technology successfully passes the science and technology innovation board IPO review, NVIDIA collaborates with Yushu to create humanoid Siasun Robot & Automation.

Pre-market news 1. Milestone Moment! Usun Technology efficiently passed the review in 73 days, Nvidia teamed up with Usun to create the humanoid Siasun Robot&Automation Type: Company Sentiment Impact: Positive On June 1st, the listing committee of the Shanghai Stock Exchange approved Usun Technology's application for initial public offering on the Science and Technology Innovation Board. Usun Technology's IPO, from the acceptance by the Shanghai Stock Exchange on March 20th to the approval on June 1st, took only 73 days. Investors like Sequoia China, Deep Venture Capital, Meituan, Tencent, Alibaba will benefit, with CITIC SEC holding 4.49% of Usun Technology's shares. At the same time, Nvidia CEO Jensen Huang announced that Nvidia has partnered with Usun Technology to launch a new generation humanoid Siasun Robot&Automation reference design H2+. 2. Beijing's first Space Computing Industry Innovation Center established, focusing on six major research directions Type: Industry Sentiment Impact: Positive On June 1st, Beijing's first Space Computing Industry Innovation Center was officially established. The center adopts a "company + alliance" model, focusing on six major research directions in the entire space computing industry chain, including integrated space-ground communication control networking and cloudification, service-oriented and tokenized operation of space computing, integrating "chip, hardware, platform, intelligence, network, application" full-stack collaboration, systematically creating the native space computing industry system. 3. Relaxation of concentration control over real estate loans, several national banks: will no longer report data this year Type: Industry Sentiment Impact: Positive It is reported that the "five-level and two-line concentration control system for commercial bank real estate loans" implemented by several national banks since 2021 has been further relaxed, and relevant departments no longer require specialized reporting of related data at the end of last year. A national commercial bank confirmed that this year the bank did not report the data, as the relevant department had verbally communicated that the data no longer needed to be reported. The relevant department no longer mentions the proportion of real estate loans to banks. 4. Trump says US and Iran may reach an agreement within a week, extending ceasefire and reopening the Strait of Hormuz Type: Macro Sentiment Impact: Positive On June 1st local time, US President Trump stated that he expects to reach an agreement with Iran within the "next week," extending the current ceasefire arrangements and reopening the Strait of Hormuz. Trump said that the negotiations were progressing smoothly, expressing optimism about reaching an agreement. He revealed that he has not formally signed the agreement yet, as he still needs to finalize several key details. Investment Calendar Microsoft Build 2026 Developer Conference Investment Tips We often overestimate our understanding of the world and underestimate the contingency of events. [US] Daniel Kahneman "Thinking, Fast and Slow" Institutional Views 1. Orient: The trend of upward fluctuation of stock indices remains unchanged, the trend of AI high-visibility industries has not ended, and technology remains the main theme. 2. CMSC: A-shares in June are still in the third stage of profit-driven uptrend, focusing on the direction of prosperity and laying out the technology theme. 3. Founder: The index market is far from over, technology is still the main theme, with a focus on technology growth and high dividend yields. Good and Bad Prospects 1. Douba will officially launch paid content at the end of June, and will integrate e-commerce functions to improve payment scenarios in the third quarter Type: Market Hot Topic Guotai Haitong: The development of large models in China has entered a new era, with major players like Tencent, Alibaba continuously investing in model research and computing power. Douba will be the core driver and start a stair-step charging system, unlocking the potential for C-side monetization in the future. 2. The successful maiden flight of the Long March 12 B carrier rocket, continuing to catalyze the commercial aerospace industry Type: Market Hot Topic Huaxi: China's rocket and satellite industry chain is complete, the path for entering commercial aerospace is clear, with the maturity of rocket recycling technology and optimization of rocket launch costs, the industry will grow rapidly under the exploration of constellation networking demands and consumer pathways. 3. KNOWLEDGE ATLAS returns to A-shares! "The world's first stock of large models" rushes to the Science and Technology Innovation Board Type: Institutional Hot Review Huayuan Securities: China's AI large model has entered an accelerated development period, which may bring about growth in the domestic computing market space and penetration rate, continuing to be optimistic about the high prosperity of domestic computing sector. It is recommended to focus on domestic chip manufacturers, CPUs, ODM manufacturers, IDC, etc. Announcement Express Slightly positive announcements 1. Wuliangye Yibin: Repurchased 1.19 million shares of the company, with a total transaction amount of approximately 100 million yuan 2. Chongqing Sokon Industry Group Stock: From January to May, sales of new energy vehicles increased by 15.14% year-on-year 3. Haisco Pharmaceutical Group: Signed a research and development cooperation agreement with Lilly, with a maximum upfront payment of 87 million US dollars Slightly negative announcements 1. China Hi-Tech Group: The stock has been subject to delisting risk warning, with a risk of delisting 2. Beijing E-Hualu Information Technology: The company is suspected of illegal disclosure of information and has been investigated by the China Securities Regulatory Commission 3. Xianheng International Science & Technology: Shareholders Goldman Sachs Asia Strategic and Xianheng Group plan to collectively reduce their shareholding by no more than 3.6142% Overseas Markets On Monday local time, the US stock market closed with slight gains, all three major indices reaching new closing highs. Nvidia rose more than 6%, becoming one of the main drivers of the market's rise. The Nasdaq China Dragon Index rose by 1.47%, KINGOFT CLOUD rose by over 8%, Pony.ai rose by over 7%, and Bilibili rose by 6%. This article is reproduced from "Tencent Stock Selection", edited by Xu Wenqiang.