A-share Pre-market Briefing | OpenAI revenue warning drags down U.S. AI concept stocks; several A-share companies see sharp increases in Q3 earnings

Pre-market Briefing 1. OpenAI's annualized revenue below previous reports! AI concept stocks under pressure, Nasdaq falls over 1% Type: Market Sentiment impact: Negative Overnight, the three major U.S. stock indices closed mixed, with the Dow up 0.1% and the Nasdaq down 1.25%; OpenAI's annualized revenue scale is $20 billion lower than the level the company previously disclosed, causing AI-related stocks to decline broadly, with storage and semiconductor sectors leading the losses. Intel fell over 5%, SanDisk, Micron Technology, and SK Hynix fell over 4%, AMD and Marvell Technology fell over 3%, and Nvidia fell nearly 3%. 2. Central Bank: No preset target for RMB exchange rate, focus on preventing short-term disruptive overshooting Type: Macro Sentiment impact: Positive On October 8, the People's Bank of China issued the "Policy Position of the People's Bank of China on the RMB Exchange Rate," which includes: adhering to letting the market play a decisive role in exchange rate formation, the People's Bank of China does not preset target levels for the exchange rate, does not intervene in long-term exchange rate trends, and maintains exchange rate flexibility and two-way floating; China's trade development is rooted in the improvement of industrial international competitiveness. China has no need and no intention to gain trade competitive advantage through currency depreciation, and never engages in competitive currency devaluation. 3. Net profit up as much as over 190 times! Multiple A-share companies report positive Q3 earnings Type: Company Sentiment impact: Positive On October 8, multiple A-share companies released Q3 earnings forecasts after market close. Among them, Shandong Dongyue Silicone Material expects net profit for the first three quarters of RMB 547 million to RMB 567 million, a year-on-year increase of 19,050%-19,750%; Xingyun Technology expects net profit for the first three quarters to increase 569%-716% quarter-on-quarter, with computing power business, especially server sales business, achieving explosive growth. 4. Trump: Will not attack Iran before midterm elections Type: Market Sentiment impact: Positive Signs of a subtle easing in U.S.-Iran tensions have emerged, but military and diplomatic maneuvering between the two sides is still advancing in parallel. According to Xinhua News Agency, U.S. President Trump posted on social media on October 8 that the United States and Iran are conducting "productive" consultations, and the United States will not launch an attack on Iran before the congressional midterm elections. 5. Regarding rate hikes, Fed Governor Waller's latest remarks Type: Market Sentiment impact: Neutral On October 8 local time, Fed Governor Waller delivered a public speech at the Economic Forum in Istanbul, Turkey. Waller said that to curb inflation, further rate hikes may still be needed in the future to prompt inflation to fall back to the policy target level of 2% as soon as possible. This statement is similar to views recently expressed by other senior Fed officials. Multiple officials have said the Fed still has time to assess economic conditions before considering the next rate hike. Investment Calendar 2026 Mining Full Industry Chain Conference held Investment Tips Investment Tips: Taking risks is blameless, but at the same time remember never to bet everything on one throw. George Soros Institutional Views 1. Huaan: Expect short-term continued volatility, but a wave of upside opportunities can still be expected toward year-end; position in technology. 2. Founder: Rebound and repair opportunities are worth anticipating; wait for strong sectors to form and for signals of stable and expanding trading volume. 3. Orient: Current overall market sentiment is one of strong wait-and-see, and dividend sectors such as utilities are worth anticipating. Positive and Negative Outlook 1. Xinwen Lianbo: During National Day, revenue of key monitored commercial districts nationwide rose 4.7% year-on-year Type: Hot market discussion Huatai: Cross-border travel and emotional consumption performed prominently during the holiday. Technology consumption grew impressively under the drive of continued policy support and supply innovation. It is recommended to focus on three major directions: technology and smart consumption, emotional and experiential consumption, and the rise of domestic brands and brand globalization. 2. During the National Day holiday, average daily charging volume for new energy vehicles on expressways increased 51.42% year-on-year Type: Hot institutional commentary Huafu Securities: Recommend paying attention to charging pile operation targets Qingdao TGOOD Electric and Zhejiang Wanma, as well as charging pile module and complete charging pile companies with overseas channels such as Shenzhen Sinexcel Electric and Shenzhen Kstar Science & Technology, and components such as Shenzhen Woer Heat-shrinkable Material. 3. Crude oil inflation burns through the supply chain, shipping giant Maersk urgently adjusts fuel surcharges Type: Hot market discussion Shenwan Hongyuan Group: Available capacity on many routes for very large crude carriers (VLCCs) is scarce, which is expected to strongly support VLCC freight rates. High freight rates are expected to continue through year-end. Announcement Express Positive announcements 1. Jiangsu Allfavor Intelligent Circuits Technology: Net profit for the first three quarters increased 190%-335% year-on-year, with revenue share from high-layer-count PCB products such as high-multilayer boards rising 2. Amlogic: Q3 net profit expected to increase 223%-248% year-on-year, full-year revenue expected to exceed RMB 10 billion 3. Guangdong Xiongsu Technology Group: Plans to acquire no more than 80% equity of Xinyuan New Materials Negative announcements 1. Nanjing Wavelength Opto-Electronic Science & Technology: The company and its chairman and others were publicly prosecuted on charges of smuggling goods prohibited from import and export by the state 2. Zhe Jiang Li Zi Yuan Food: Independent director Xiao Zuoping is under disciplinary review and supervisory investigation 3. Guangdong High Dream Intellectualized Machinery: Shareholder Zheng Jinkang plans to reduce holdings by no more than 3% of the company's shares Overseas Markets Editor's note: The three major U.S. stock indices closed mixed on Thursday, with the Dow up 0.1% and the Nasdaq down 1.25%; storage and semiconductor sectors declined, with Intel down over 5%, and SanDisk, Micron Technology, and SK Hynix down over 4%; the Nasdaq Golden Dragon China Index closed down 0.62%. This article is reprinted from "Tencent Self-Selected Stocks." GMTEight editor: Jiang Yuanhua.