A-share Evening Highlights | Performance Reveals Strong Signals: Semiconductor Manufacturing International Corporation and Other Chip Giants Report Positive News

1. Strong performance signals are emerging, with chip giants like Semiconductor Manufacturing International Corporation reporting significantly positive results. Is the semiconductor rebound gaining momentum? Importance: On the evening of August 13, Semiconductor Manufacturing International Corporation, Hygon Information Technology, Hua Hong Grace Semiconductor, and several other chip giants announced their earnings, all exceeding expectations. Specifically: Semiconductor Manufacturing International Corporation achieved a total sales revenue of $3.006 billion in the second quarter, a quarter-on-quarter increase of 20%. This marks the first time Semiconductor Manufacturing International Corporation's quarterly sales revenue has surpassed $3 billion. The increase in revenue was mainly due to a rise in wafer sales, increased average selling prices, and changes in product mix. Hua Hong Grace Semiconductor reported a gross margin of 16.5% in the second quarter, up 5.6 percentage points year-on-year and 3.5 percentage points quarter-on-quarter; sales revenue reached $775 million, a year-on-year increase of 26.8% and a quarter-on-quarter increase of 6.6%; profits attributable to shareholders of the parent company amounted to $38.6 million, a year-on-year increase of 385.9% and a quarter-on-quarter increase of 84.6%. Additionally, Hygon Information Technology released its semi-annual report for 2026, reporting an operating income of 9.099 billion yuan, a year-on-year increase of 66.52%; the net profit attributable to shareholders was 1.798 billion yuan, up 49.69% year-on-year. Yinhe Securities stated that as we are currently in the performance disclosure window, the strong earnings from important companies and optimistic guidance for the next quarter support a rebound in the semiconductor sector, particularly focusing on semiconductor equipment and materials, as well as domestic advanced packaging capabilities. 2. The central bank made a significant move last night, maintaining a fixed amount of 1 trillion yuan in reverse repos, exceeding brokerage expectations. Importance: On August 13, the central bank announced that on August 14, the People's Bank of China would conduct a 1 trillion yuan fixed-amount reverse repo operation using a multi-price bidding method, with a term of 6 months (185 days) and a maturity date of February 15, 2027 (extended for holidays). According to public data, 1 trillion yuan of reverse repos from June will expire on the 14th (this Friday), which means that the central bank's equal maintenance of the 6-month reverse repos results in zero net funding and zero withdrawal of funds. Previously, some brokerages analyzed that with expectations for overnight repo operations, it was likely that the reverse repos would decrease in volume, providing potential space for a rate cut in September's important event window. However, the central bank did not choose to reduce the volume this time but instead continued with an equal 1 trillion yuan maintenance, which exceeded previous brokerage expectations. 3. Negative news hits, leading to an 18% drop for AI chip leader in the U.S. stock market, with Wall Street raising alarms. Importance: On August 13, shares of AI chip manufacturer Cerebras Systems dropped over 18% due to disappointing latest earnings reports. Cerebras Systems released its second-quarter earnings for 2026. The company's core revenue grew 103% year-on-year to $209.9 million, with core cloud and other service revenue growing 287% year-on-year to $127.7 million; GAAP total revenue increased by 74% year-on-year to $180.1 million, which fell short of market expectations. Meanwhile, the U.S. stock market strongly rebounded from a significant deleveraging in July, as investors rushed to buy, and volatility indicators rapidly fell to near calm levels. However, Wall Street traders and strategists are warning: beneath the surface calm, market structures are hiding vulnerabilities, and any external catalyst could trigger a rapid and self-reinforcing directional shock. 4. China Mobile Limited's operating income in the first half of the year fell 1.1% year-on-year, while AIDC revenue surged by 486%. Importance: In the first half of 2026, China Mobile Limited continued to expand its computing capabilities and intelligent services, showing outstanding cash flow performance despite pressure on earnings, providing critical support for the strategic transformation of the world's largest telecom operator. The company announced that for the six months ending June 30, 2026, shareholders' profit was 79 billion yuan, down 6.3% year-on-year; operating income was 538 billion yuan, a year-on-year decrease of 1.17%. Earnings per share were 3.64 yuan. The company stated that after excluding the impact of adjustments to the VAT item policy, both operating revenue and profit attributable to shareholders achieved positive growth on a comparable basis. Outside the heavily pressured telecom services sector, computing service revenue increased by 14% year-on-year to 52.9 billion yuan, with AIDC (Artificial Intelligence Data Center) revenue skyrocketing by 486%, and intelligent service revenue increasing by 130%. The company declared an interim dividend of 2.51 yuan per share, up 0.3% year-on-year. Free cash flow saw a significant year-on-year increase of 11.6% to 53.9 billion yuan, indicating operational resilience. 5. News broadcast article: "Computing metals" prices soar, strategic value increasingly highlighted. Importance: A report from the news broadcast stated that in the first half of the year, China's non-ferrous metals industry profits saw a year-on-year increase of 94%, with one of its core drivers being the sustained release of demand from artificial intelligence. These metals, closely related to AI computing, are referred to as "computing metals." Driven by AI computing demand, the prices of these rare metals have shown significant increases. Over the past six months, tin prices have risen about 40%, tantalum prices by 60%, and tantalum prices have surged by 158%. In the future, competition in the field of artificial intelligence will not only depend on software development and algorithm innovation capabilities but also on hard strengths such as resource reserves, energy security, and manufacturing. 6. Stock prices soar straight up as a shipping giant announces an upgraded annual earnings outlookwhat does it signal? Importance: On August 13, Maersk's stock momentarily surged by over 8%. The news indicated that Maersk's latest financial performance far exceeded expectations, and the company raised its annual performance outlook for 2026. As the world's largest container shipping company, Maersk's performance is often seen as a barometer for global trade; the company stated that it expects the global container market size to grow by about 4% this year. Maersk's CEO Vincent Clerc indicated that global container transport demand remains strong. 7. Yushu Technology faced a buyback of 8,734 shares; a single subscription could yield over 200,000 yuan in profit? Importance: On the evening of August 13, Yushu Technology announced that the number of shares subscribers paid for online was 9,698,266, with 8,734 shares abandoned; the number of shares subscribed by offline investors was 22,650,148, with zero shares abandoned. According to the issuance announcement, the issue price for Yushu Technology was 150.80 yuan per share, corresponding to a market capitalization of approximately 60.993 billion yuan, with a post-issue price-to-earnings ratio reaching 219 times. The total amount raised from the initial public offering was approximately 6.1 billion yuan; investors' one subscription is for 500 shares, requiring a payment of 75,400 yuan. Data shows that, since 2026, the average first-day gain for new shares listed in the A-shares market has reached 276.04%. If this estimation holds, the profit for a single subscription in Yushu Technology could exceed 200,000 yuan; if it aligns with the average first-day gain of 466.61% for the new shares listed on the STAR Market this year, the profit for a single subscription could reach 351,800 yuan. The market analysis of investment opportunities highlights a focus on computing and its related sectors. 1. A favorable development for computing: DeepSeek announces an API price adjustmentwhat segments will benefit first? On August 13, DeepSeek announced an API price adjustment, stating that DcepSeek API prices would be updated and adjusted with peak and off-peak pricing, where the price during off-peak hours would be half of the peak hour price. Peak hours are defined as 9:00-12:00 and 14:00-18:00 Beijing time (all other times are off-peak). The new prices will take effect at 00:00 on August 17, 2026, Beijing time. The peak price for outputting a million tokens at deepseek-v4-pro could reach 27 yuan. This is likely to favor sectors including: computing rental, computing hardware, AI chips, and large AI models. In its outlook for the computing industry supply chain, Bank of China International noted that domestic large models are undergoing concentrated iterations, and the logic of domestic computing continues to strengthen. As the competitiveness of domestic models improves and applications continually penetrate enterprise production processes, the benefiting chain is expanding from GPUs to CPUs, AI servers, storage, switches, optical modules, PCBs, liquid cooling, data centers, and power infrastructure, further reinforcing the prosperity logic of the entire domestic computing industry chain. Aside from this, the following sectors are also worth noticing: 2. Optical communication | News bulletin: China accelerates the construction of a new generation communication network. 3. Film and television | Summer box office surpasses 9.2 billion, "Welcome to Dragon Restaurant" breaks 400 million. 4. Submarine cables | Global submarine cable industry pattern accelerates adjustment, with over $19 billion in investments over the next five years. 5. Steel | The "Iron Resource Development Plan" conference on domestic iron ore projects convened. 6. AI Security | IBM collaborates with OpenAI to accelerate secure AI deployment in core business operations. In terms of positive announcements, attention is drawn to Grace Fabric Technology, which saw its semi-annual profit surge over 3.4 times; on the negative side, notable is Hunan Nucien Pharmaceutical Co., Ltd. being fined 5 million due to inflated revenue. Positive announcements: 1. Grace Fabric Technology: 2026 semi-annual profit increased by 341.6% year-on-year. 2. Dawning Information Industry: Net profit in the first half of the year increased by 34% year-on-year, with strong performance from its shareholding subsidiaries. 3. Sharetronic Data Technology: Net profit of 1.863 billion yuan in the first half of 2026, up 331.11% year-on-year. 4. Jiangsu Aidea Pharmaceutical Group: Actual controller Fu Helang increased holdings by 730,100 shares, totaling 11.3047 million yuan. 5. Hefei Chipmore Technology: The general manager proposed to repurchase shares worth 75 million to 150 million yuan. Negative announcements: 1. Hunan Nucien Pharmaceutical Co., Ltd.: Fined 5 million yuan for inflating income by 64.68 million yuan in annual reports by the Hunan regulatory bureau. 2. Henan Huanghe Whirlwind: 8.82% of shares held by shareholder Huanghe Group are completely frozen. 3. Shanghai Geoharbour Construction Group Co., Ltd.: Major shareholder prematurely terminated the reduction plan, having reduced 3.453 million shares. 4. Zhejiang Starry Pharmaceutical: Actual controller Hu Jinsheng completed share reduction, totaling 2.57% of shares. 5. Xinjiang Baodi Mining: Jiaxing Baoyi reduced 110,000 shares, and Jiaxing Baorun reduced 600,000 shares. This article is reprinted from "Tencent Self-Selected Stocks," edited by GMTEight: Li Fo.