Mini Program: Quick News Brief on A-Share Pre-Market Highlights
Important News
1. The Shanghai Stock Exchange issued a notice to brokers strengthening the management of trading business units.
Today, the Shanghai Stock Exchange issued a notice to securities firms strengthening the management of trading units. The exchange clearly requires securities firms to immediately initiate a comprehensive self-inspection of all trading units, with non-compliant configurations to be rectified within three months. The exchange mandates that trading units must be properly allocated internally, treating all investors fairly and safeguarding the legitimate rights and interests of investors, particularly retail investors, while strictly prohibiting special privileges for individual investors. Securities firms must ensure that the cleanup and rectification process proceeds smoothly and orderly, and should prioritize using cleared trading units to enhance the trading experience for ordinary investors. A securities industry insider explained that this move primarily targets quantitative clients, eliminating dedicated trading channels to reduce trading inequities. In theory, it aims to level the playing field among proprietary trading units, retail investor units, and high-frequency quantitative trading units, ensuring retail investors are not disadvantaged by speed disparities. It is understood that previously, a small number of institutions gained speed advantages of up to a thousandfold in microseconds through dedicated server locations and independent trading units, resulting in ordinary investors’ orders being overtaken or front-run.
2. Central Bank: On June 5, a 500-billion-yuan outright reverse repurchase operation with a term of three months will be conducted.
To maintain adequate liquidity in the banking system, the People’s Bank of China will conduct a 500-billion-yuan outright repurchase operation on June 5, 2026, using a fixed-quantity, interest-rate-bidding, multiple-price-winning approach. The term is three months (92 days), with a maturity date of September 5, 2026 (extended if it falls on a holiday).
3. Shenzhen: Plan and initiate projects to strengthen investment in new infrastructure, accelerating the construction of computing power networks and next-generation communication networks.
On June 4, the Shenzhen Municipal Party Committee convened a special meeting to analyze the situation of industrial investment in Shenzhen and to plan and deploy next steps. The meeting emphasized seizing the critical window of opportunity, focusing on key areas to strategically plan and layout major projects, and improving the industrial ecosystem. It called for advancing projects and strengthening investment in the planning and construction of new infrastructure, accelerating the development of computing networks and next-generation communication networks to drive new investment and foster emerging industries. It urged proactive project planning and investment in strategic emerging industries to achieve parallel and leading positions, developing industry maps and meticulously planning specific investment initiatives for each industrial cluster, striving to build a hub for the integrated circuit industry, and accelerating the growth of intelligent connected new energy vehicles, pharmaceuticals, and medical devices to cultivate more emerging pillar industries. It stressed forward-looking planning and investment in future industries by strengthening basic and applied research, accelerating the industrialization and commercialization of frontier technologies, and establishing mechanisms for increased investment and risk-sharing in future industries. It called for project planning and investment in the deep upgrading of traditional industries by vigorously promoting technological transformation investment and driving high-end and branded development. It emphasized project planning and investment in AI empowerment across all sectors by accelerating the full-chain development of the AI industry and comprehensively implementing the “AI+” initiative. It also urged project planning and investment in green and low-carbon development in manufacturing by accelerating green and low-carbon technological upgrades and actively promoting technical innovation and equipment renewal. (Securities Times)
4. Ministry of Commerce: Opposes U.S. Trade Restrictions Against China Based on Allegations of Forced Labor
At a regular press conference on the 4th, Ministry of Commerce spokesperson He Yongqian responded to a question regarding the U.S. proposal to impose tariffs on economies alleged to engage in forced labor, stating: Regarding the Section 301 investigation, China’s position has been consistent. China opposes all forms of unilateral restrictive measures, including a series of trade restrictions imposed on China under the pretext of “forced labor,” and has repeatedly expressed its firm stance on this matter. We urge the U.S. to work with China to jointly safeguard the stability of China-U.S. economic and trade relations. (Xinhua News Agency)
5. The price of high-end optical fiber preforms has risen by nearly 550%; industry insiders say the short-term supply shortage of preforms will remain periodically constrained.
The optical preform, also known as an "optical rod," is the raw material that determines the performance of optical fibers. Optical rods are categorized into three main types: A, B, and C. Among these, Class A2 optical preforms, as a high-end product category, are experiencing explosive demand. Industry insiders note that as an upstream material for optical cable products, optical preforms account for 70% of industry profit distribution. Currently, the most sought-after optical rod product is the "Class A2 optical preform," which produces fibers with strong bending resistance and is widely used in AI computing infrastructure and home broadband applications. Data shows that the price of Class A2 preforms has surged from 22 to 30 yuan per equivalent core-kilometer at the beginning of 2025 to 160 yuan per equivalent core-kilometer in 2026—an increase of nearly 550%. Industry experts indicate that expanding optical rod production capacity typically requires 18 to 24 months; in the short term, the supply shortage of optical rods will remain structurally constrained. Companies with optical rod production capacity will be the primary beneficiaries of this market trend, while smaller manufacturers may face supply shortages, reliance on contract manufacturing, and compressed profit margins. (CCTV Finance)
6. The Ministry of Industry and Information Technology has launched a provincial-ministerial collaborative pilot initiative to promote innovation and development in 6G.
The Office of the Ministry of Industry and Information Technology issued a notice on launching a provincial-ministerial collaborative pilot initiative for 6G innovation and development, stating that by 2029, this initiative will further stimulate innovation vitality among local governments and enterprises, generate a number of independently developed 6G technical solutions, cultivate promising new business application scenarios, and produce a diverse range of innovative terminal products, providing strong support for the commercial deployment of 6G.
7. Futu: Starting June 12, suspend buying (opening positions) transactions for existing accounts within mainland China.
Futu Holdings announces that, in order to comply with industry regulatory requirements for a two-year concentrated rectification period and to promote the standardized development of cross-border securities business, adjustments will be made to services provided to existing investors in mainland China. Effective June 12, 2026 (Beijing Time): For trading services in mainland China, all buy (opening) transactions for stocks and other instruments will be suspended; sell (closing) transactions will remain unaffected. For fund transfer services in mainland China, fund inflows will be suspended.
8. China Chamber of Commerce in the EU Responds to Questions from the Press on the European Commission’s Proposal for the “European Technological Sovereignty Package”
The China-EU Chamber of Commerce notes the European Commission’s newly proposed “Package on European Technological Sovereignty,” which covers semiconductors, artificial intelligence (AI), cloud services, open-source technologies, and the digitalization of energy. These initiatives are closely linked to the development of Chinese enterprises operating in Europe and have significant implications for trade, investment, and cooperation prospects in the digital economy between China and the EU. The China-EU Chamber of Commerce states that, as two of the world’s most important digital markets, China and the EU should strengthen connectivity and collaboration rather than move toward market fragmentation and technological fragmentation, in order to jointly promote innovation, enhance industrial competitiveness, and achieve sustainable growth. (CCCEU)
Individual stock news
1. The Shenzhen Stock Exchange has issued a concern letter to Weiteou, requesting clarification on how the company’s current main products are applied in each of the three key stages of optical module production.
The Shenzhen Stock Exchange issued a "Notice of Concern" to Shenzhen Vitek New Materials Co., Ltd., noting that the company's stock price has risen significantly, reaching a severe abnormal fluctuation on May 20 and hitting the daily price limit on June 4. Between April 25 and May 21, the company conducted frequent investor roadshows, releasing seven investor relations records and repeatedly mentioning related businesses in hot areas such as optical modules and advanced packaging during Q&A sessions. The exchange requires the company to clarify: the amount of solder paste used in each stage of the production process of optical modules and their components by optical module manufacturers, along with the corresponding unit price and total amount, and the proportion of these costs relative to the price of optical module products; and to detail how the company’s current main products are applied across the three major stages of optical module production, including the names of key customers in each stage, sales revenue and gross margin achieved in the most recent fiscal year and latest period, and the value of outstanding orders.
2. Bojie Co., Ltd.: Plans to raise no more than RMB 1.503 billion through a private placement for projects including the construction of production capacity for server testing equipment and heat dissipation module components.
Bojie Co., Ltd. (002975.SZ) announced that its board of directors has approved a plan to issue A-shares to specific investors, with a proposed total fundraising amount not exceeding RMB 1.503 billion, to be used for the construction of production capacity for server testing equipment and cooling module components, the development of an advanced R&D center and platform, and working capital supplementation. The number of issuing investors will not exceed 35, and the number of shares issued will not exceed 62.4392 million. The company has already established stable, long-term partnerships with global core computing power providers such as NVIDIA and Google, and order certainty continues to strengthen. The company’s current production lines are unable to fully meet delivery demands, becoming the primary bottleneck restricting business expansion. This project will comprehensively enhance the scale and flexibility of production capabilities for server testing equipment and cooling components through plant upgrades and equipment modernization, enabling rapid line changeovers and efficient delivery for small-batch, high-mix orders. Upon completion, the project will effectively alleviate production constraints, further increase market share among core customers, consolidate competitive advantages, and fully capitalize on strategic opportunities in global computing infrastructure development.
3. Cathay Securities & Futures: Plans to increase capital contribution to Cathay Securities & Futures Financial Holding Co., Ltd. by RMB 9 billion
Cathay Securities & Futures announced that its 15th meeting of the 7th Board of Directors (an extraordinary meeting) was held on June 4, 2026, via written resolution. The meeting approved the proposal on the company’s capital increase to Cathay Securities & Futures Financial Holdings Co., Ltd., agreeing to increase the company’s capital contribution by RMB 9 billion (or an equivalent amount in other currencies) to further advance its international business development and continuously strengthen its cross-border financial advantages. The company’s management team is authorized to implement the capital increase and related matters, either in a single transaction or in multiple installments, based on actual circumstances.
4. Yitasong officially becomes an Intel 2026 Solutions Aggregator
Recently, Shenzhen Yitong Supply Chain Co., Ltd. upgraded its strategic partnership with Intel and was designated as an Intel 2026 Official Solution Aggregator. Leveraging this partnership qualification, Yitong distributes the full range of Intel chips and OEM/ODM customized products under the Intel ecosystem. (Yitong)
5. Gree Electric Appliances: Zhuhai Mingjun reduced its stake in the company by 42.7931 million shares through block trading.
Gree Electric Appliances announced that its shareholder, Zhuhai Mingjun Investment Partnership (Limited Partnership) (“Zhuhai Mingjun”), reduced its stake in the company by 42,793,100 shares via block trading on June 4, representing 0.7640% of the company’s total shares and 0.7662% of the total shares excluding treasury shares. Prior to this transaction, Zhuhai Mingjun and its concert party, Dong Mingzhu, collectively held 1.015 billion shares, accounting for 18.1177% of the company’s total shares and 18.1705% of the total shares excluding treasury shares. After this transaction, Zhuhai Mingjun and its concert party, Dong Mingzhu, collectively hold 972 million shares, representing 17.3537% of the company’s total shares and 17.4043% of the total shares excluding treasury shares, with their equity change reaching an integer multiple of 1%.
6. HuaDian Co., Ltd. responds to rumors of overseas orders: If there are significant orders, we will disclose them promptly; currently, there is no information requiring disclosure.
On June 4, reports emerged that Huaqin Technology secured a significant order from a海外AI giant’s server division. Fueled by these rumors, Huaqin’s stock hit its daily trading limit during the session. As of the close on June 4, the company’s share price stood at CNY 140.82 per share, up 8.49% for the day, with a total market capitalization of CNY 271 billion. In response, Huaqin Technology stated that it cannot comment on specific customer details, but if a single order meets the disclosure threshold, it will be disclosed regardless of whether the specific vendor is named. (China Securities Journal)
7. Dongshan Precision: The future operating performance of Solux Optoelectronics is uncertain due to multiple factors.
Dongshan Precision (002384) announced that the company’s stock price has risen by more than 20% cumulatively over three consecutive trading days, constituting abnormal price fluctuation. Soluxeo Photonics has been included in the company’s consolidated financial statements since October 2025, and its production and business operations are currently stable and proceeding normally. For the fiscal year 2025 and the first quarter of 2026, revenue from Soluxeo Photonics accounted for 3.58% and 16.02% of the company’s consolidated revenue, respectively, while its profit contributed 22.69% and 52.92% to the company’s consolidated profit. Due to various factors, including industry conditions and changes in downstream customer demand, Soluxeo Photonics’ future operating performance remains uncertain. Investors are advised to invest rationally and be aware of investment risks.
8. Zhongji Xuchuang: The first vesting period of the reserved portion of the third restricted stock incentive plan will be listed for trading on June 8, with a vesting price of RMB 35.16 per share.
Zhongji Xuchuang (300308.SZ) announced that the vesting conditions for the first vesting period of the reserved portion of its third restricted stock incentive plan have been met. A total of 324,000 shares, representing 0.03% of the company’s total outstanding shares, will be vested to 69 individuals at a price of RMB 35.16 per share. The raised funds of approximately RMB 11.4077 million will be used to supplement working capital, and the shares will be listed and tradable on June 8, 2026.
9. Zhishang Technology: Has consistently received purchase orders from a U.S.-based fiber optic connectivity solutions provider, with a cumulative order value of approximately RMB 460 million.
Zhi Shang Technology announces that, from January 1, 2026, through the date of this announcement, the company has continuously received purchase orders from a U.S.-based fiber optic connectivity solutions provider, with a cumulative order value of approximately $66.40 million, equivalent to about RMB 460 million. The orders are for fiber optic connectors and constitute routine operational orders, requiring no review or approval by the Board of Directors or shareholders. If successfully executed, these orders are expected to have a positive impact on the company’s operating performance.
10. Jianghai Corporation: No business in multilayer ceramic capacitors (MLCC)
Jianghai Co., Ltd. (002484) has issued an announcement regarding abnormal stock price fluctuations, stating that the company's current scale and revenue contribution from supercapacitors and MLPCs, as well as their application in AI server power supplies, are relatively small. Additionally, the company does not have a business in multilayer ceramic chip capacitors (MLCCs) and has no plans to commence MLCC production. Investors are urged to invest rationally and be aware of investment risks. The demand for the company’s products in downstream applications such as server power supplies may be affected by macroeconomic conditions and policies, potentially falling short of expectations. Furthermore, industry competition may intensify, leading to mismatches between production capacity and demand. In addition, certification cycles for emerging market customers are lengthy, and the timing of current and new order fulfillment remains uncertain.
11. Wantong Development: The PCIe 6.0 switch chip is currently in development and has not yet been taped out.
Wantong Development (600246) has issued an announcement regarding unusual stock price fluctuations. The company has noticed that investors on the e-Interactive platform are inquiring about the progress of tape-out for PCIe 6.0 switch chips. Currently, the PCIe 6.0 switch chip is in the research and development phase and has not yet undergone tape-out.
12. Tongding Interconnection: The project company and operating company for the annual production of 600 tons of optical preforms and 20 million fiber-kilometers have completed industrial and commercial registration.
Tongding Interconnection (002491.SZ) announced that progress has been made on its external investment project to build an annual production capacity of 600 tons of preforms and 20 million fiber-kilometers of optical fiber. The project company, Tongding Optics (Shaoguan) Co., Ltd., and its wholly owned operating company, Tongding Information & Communication (Shaoguan) Co., Ltd., have completed their industrial and commercial registration and obtained their business licenses. The registered capital of the project company is RMB 800 million, and the registered capital of the operating company is RMB 100 million.
13. Huate Gas: The selling prices of helium-related products have shown a clear downward trend since reaching their peak.
Walter Gases (688268.SH) has issued an announcement regarding abnormal fluctuations in stock trading, abnormal fluctuations in the trading of "Walter Convertible Bonds," and risk warnings. According to relevant decrees of the Government of the Russian Federation, helium has been included in a list of designated commodities, which explicitly requires special approval from senior Russian government officials for the export of helium to regions outside the Eurasian Economic Union. To date, the company understands that such approvals must be applied for on a monthly basis; the company obtained the necessary permit for helium procurement in this region in May 2026, while the special permit for June is still under application. It is possible that monthly applications will continue in the future, and the approval outcomes remain uncertain. If subsequent policies do not improve or if the required special permits and customs procedures cannot be obtained, there is a risk that the company’s supply of relevant gas raw materials may be restricted, production schedules adjusted, and costs significantly increased, thereby affecting the company’s operating performance. As of the date of this announcement, the company has become aware of market rumors regarding price adjustments for helium products. Upon verification, the company confirms that, to date, the sales prices of helium-related products have shown a clear downward trend from their recent highs. Prices are subject to significant volatility due to geopolitical factors and global supply conditions, and further price declines remain possible. Investors are urged to view such market rumors rationally and avoid overestimating the impact of price fluctuations in any single product on the company’s financial performance.
14. Four consecutive daily limit-up days for Tianyang New Materials: The adhesive for fixing optical module lenses in electronic adhesives, which involves semiconductor business, is a newly developed product; currently, monthly revenue from this product accounts for less than 1% of the group’s total monthly revenue.
Tianyang New Materials (603330) announced that the company's stock experienced abnormal price fluctuations, with cumulative closing price increases exceeding 20% over two consecutive trading days on June 3 and 4, 2026. Among its electronic adhesive products, the adhesive used for securing optical modules in semiconductor applications is a newly developed product; currently, its monthly revenue accounts for less than 1% of the group’s total monthly revenue and is not expected to significantly impact the company’s performance, with potential uncertainties regarding future supply.