Mini Program: Quick News Update on A-Share Pre-Market Market
Important News
1. National Development and Reform Commission: Fully implement the "AI+" initiative and thoroughly address "cutthroat" competition.
On June 10, Zheng Zhanjie, Director of the National Development and Reform Commission, chaired a symposium with economic experts. Zheng stated that the NDRC will earnestly implement the decisions and arrangements of the CPC Central Committee and the State Council, fully utilize macroeconomic policies, and leverage the combined effects of existing and new policies; strengthen the planning and construction of water networks, new power grids, computing networks, next-generation communication networks, urban underground utility networks, and logistics networks, promoting close integration of investment in infrastructure and investment in people, and effectively implementing policies to encourage the replacement of old consumer goods with new ones; accelerate the development of a modern industrial system and comprehensively advance the "AI+" initiative; continuously strengthen reform and innovation, further promote the construction of a unified national market, and thoroughly address "inward-looking" competition; enhance the security of energy and resource supplies and implement a comprehensive conservation strategy; firmly safeguard basic living standards and fully promote employment for key population groups; meanwhile, promptly research and prepare a set of targeted, actionable policy tools to be issued and implemented as needed, continuously consolidating the foundation for sustained and steady economic growth.
2. The Office of the State Council Safety Committee, in conjunction with three ministries and commissions, held a meeting with China Communications Construction Company Limited and China Electric Power Construction Corporation Limited.
On June 10, the State Council Safety Committee Office, the Ministry of Housing and Urban-Rural Development, the Ministry of Transport, and the State-owned Assets Supervision and Administration Commission of the State Council jointly held a meeting with the chairmen of China Communications Construction Company Limited and China Electric Power Construction Corporation Limited, along with key leaders of their subordinate second-tier companies. The meeting emphasized that China Communications Construction Company Limited and China Electric Power Construction Corporation Limited must deeply learn from the lessons of disaster incidents, significantly raise their political stance, and truly prioritize workplace safety; they must implement the “two closed-loop” requirements of accident investigations, adhere to a problem-oriented approach, and take decisive action to rectify falsification and cost-cutting practices; they must strictly manage subcontracting and completely resolve the issues of “subcontracting instead of managing” and “subcontracting without oversight”; they must thoroughly conduct hazard identification and remediation to comprehensively enhance risk management levels. With the increased frequency of extreme weather events this flood season, they must remain highly vigilant and strengthen workplace safety with greater determination, stronger efforts, and more concrete measures.
3. Hong Kong SFC: Licensed companies in Hong Kong may continue to serve existing mainland clients, but cannot provide services within mainland China.
On June 10, the Hong Kong Securities and Futures Commission provided further clarification on the circular issued on May 22. Question (9) in the circular states that licensed Hong Kong firms may continue to open new accounts for investors from mainland China (i.e., investors using a Chinese resident ID card and/or Chinese passport as identification), provided all account opening requirements are met. The SFC clarified that licensed Hong Kong firms may continue to serve existing mainland Chinese clients, as long as such services are not provided within mainland China and the firms have complied with all relevant laws and regulatory requirements in Hong Kong and applicable jurisdictions. The SFC also noted that, on May 22, 2026, mainland Chinese authorities jointly issued a notice whose requirements also apply to financial institutions in other jurisdictions (not limited to Hong Kong) when providing services to mainland Chinese investors. (Securities Times)
4. China responds to EU sanctions on Russia that may involve Chinese companies: It will closely monitor developments and take necessary measures.
On June 10, Foreign Ministry spokesperson Lin Jian presided over a regular press briefing. A foreign journalist asked whether China had any comment on EU High Representative for Foreign and Security Policy Kallas’s statement that the EU’s new round of sanctions against Russia might include enterprises in countries such as China, Turkey, and India. Lin Jian responded that China has always firmly opposed illegal unilateral sanctions lacking a basis in international law and authorization from the UN Security Council, and has repeatedly raised solemn representations with the EU, urging it to correct its erroneous actions and withdraw the illegal unilateral sanctions. “China will closely monitor developments in this regard and take necessary measures to resolutely safeguard its legitimate rights and interests,” Lin Jian said. (Beijing Daily)
Individual stock news
1. Moore Threads MusaCoder Open-Sourced: The First Code Large Model Trained on a Domestic Full-Function GPU Stack
Recently, Moore Threads officially released and open-sourced MusaCoder, a specialized large language model for generating GPU low-level operators. This is the first open-source code large model in the industry to complete end-to-end training and validation on a domestic GPU computing foundation, with its entire post-training process carried out on the Kuai'e AI Computing Cluster built on MTTS 5000. In rigorous evaluations on KernelBench, MusaCoder-27B-RL achieved an OverallPass@8 of 93.2% and an Avg.@8 of 88.60%, surpassing leading SOTA code models such as Claude Opus 4.7, DeepSeek-V4 Pro, GLM-5.1, and Kimi K2.6, reaching industry-leading performance levels.
2. Biwin Storage: Plans to jointly participate in the strategic placement of Zhenbao Technology with an affiliate
Biwin Storage (688525.SH) announced that its wholly-owned subsidiary, Hainan Nanbai Suan, plans to use its own funds to participate in the strategic placement of Zhenbao Technology’s initial public offering, with an allocated amount of RMB 20.8606 million. This transaction constitutes a related-party transaction, as the National Integrated Circuit Fund II, a related party, holds a 3.94% equity stake in Zhenbao Technology. Zhenbao Technology specializes in the manufacturing of vacuum components for dry etching and chemical vapor deposition equipment in the semiconductor industry, as well as component cleaning and regeneration services.
3. Eoptolink: Planning to issue H-shares and list on the Hong Kong Stock Exchange
Sino-Optics announced that its 14th meeting of the Fifth Board of Directors approved the proposal to issue H-shares and list them on the Main Board of the Hong Kong Stock Exchange. This move aims to enhance capital strength and overall competitiveness, as well as increase international visibility. The matter remains subject to approval by the shareholders’ meeting, as well as filing with the China Securities Regulatory Commission and approval from the Hong Kong Stock Exchange and the Securities and Futures Commission of Hong Kong, and is therefore subject to uncertainty.
4. Zhongji Xuchuang: The company has been listed on the U.S. Department of Defense’s 1260H list; this designation and its basis are inconsistent with objective facts.
Zhongji Xuchuang announces that the company has become aware of the U.S. Department of Defense's inclusion of the company on the "1260H List." The company confirms that the designation and basis for including Zhongji Xuchuang on this list are inconsistent with objective facts; Zhongji Xuchuang is neither a Chinese defense enterprise nor a military-civil fusion company. The company will engage in effective communication using sufficient factual evidence and take appropriate measures to safeguard its interests. This incident has not had a material impact on the company’s operations; order acquisition, production, and supply chain activities continue normally.
5. BYD: Demand for second-generation Blade Batteries exceeds supply; orders surge after the launch of flash-charging technology.
In its investor relations activity record, BYD (002594.SZ) disclosed that after launching its second-generation Blade Battery and flash-charging technology in March, the company experienced explosive order growth, with current production unable to meet demand. The company is actively ramping up production capacity for the second-generation Blade Battery to fulfill order requirements. Once the expanded capacity for the second-generation Blade Battery comes online next year, BYD will simultaneously strengthen its presence in both domestic and international markets, while rolling out its flash-charging ecosystem globally. On the intelligence front, the company unveiled its first 4nm Xuanji A3 chip, with over 3.15 million vehicles equipped with advanced driver-assistance systems generating more than 200 million kilometers of data daily. BYD has comprehensively prepared the necessary chips, algorithms, data, and ecosystem for L3-level autonomous driving, and has established global driving training centers across Europe, South America, Southeast Asia, the Middle East, and other regions, ready to accelerate deployment upon regulatory approval. In overseas markets, BYD sold 1.05 million vehicles abroad in 2025 and is confident of achieving or exceeding its original sales targets in 2026. Its international strategy has established a dominant pattern of “leading in Latin America, breaking through in Europe, and multi-point expansion across Asia.”
6. Power Diamond: Plans to invest RMB 1.028 billion in a diamond functional materials project, focusing on high-end applications such as thermal management materials and optical materials.
Liqiang Diamonds (301071.SZ) announced that its board of directors has approved a proposal to change the use of part of the proceeds from its fundraising. The company plans to redirect the remaining RMB 1.028 billion from the previously planned project, “Shangqiu Liqiang Diamonds Technology Center and Synthetic Diamond Smart Factory Construction Project,” to a new project: “Diamond Functional Materials Production and R&D Project.” The implementing entity will remain the wholly owned subsidiary, Shangqiu Liqiang Diamonds Technology Center Co., Ltd. The new project focuses on the large-scale, standardized production of high-end diamond functional materials, including thermal management materials, optical materials, and acoustic diaphragms, comprehensively expanding the entire industrial chain from single-crystal and polycrystalline diamond growth and precision processing to final product supply.
7. ST Xinhua Jin clarifies: The transaction between its subsidiary Shanghai Lizhi and Xinhua Jin Textile does not require related-party transaction approval procedures, and no new fund occupation has occurred.
ST Xinhua Jin (600735.SH) announces that it has become aware of media reports regarding the company’s “three-phase transformation,” and hereby clarifies the related matters. The transaction between the company’s subsidiary, Shanghai Lizhi, and Xinhua Jin Textile does not require approval procedures for related-party transactions or disclosure obligations; the issue of fund appropriation has been fully rectified, and no new instances of fund appropriation have occurred as of the date of this announcement; the performance compensation case involving Wang Liyang and Ke Yi was heard on June 9, 2026, and the final outcome is pending subsequent court rulings and announcements.
8. Tianyu Digital Science: No physical AI business, and no business cooperation relationship with the 2026 World Cup
Tianyu Digital Technology (002354) has issued an announcement regarding abnormal stock price fluctuations. The company notes that recent media discussions have referenced the concepts of "Physical AI" and the "World Cup" in relation to its business. To date, the company has no Physical AI business and has not generated any related revenue; it has no business cooperation with the 2026 World Cup, has not provided any marketing services for the 2026 World Cup on any online platform, and has not generated any related revenue.
9. Kangda New Materials, with two consecutive daily price limits: Revenue from its electronic-grade epoxy resin business at Dalian Qihua accounted for approximately 1.2% of the company’s total revenue in 2025.
Kangda New Materials (002669) has issued an announcement regarding unusual fluctuations in stock trading. The company has noted online discussions concerning PCB-related concepts and electronic-grade resin products. The company’s core business consists of three segments: adhesives and special resin new materials, electronic information materials, and electronic technology. Among these, the adhesives and special resin new materials segment dominates revenue, with products primarily applied in wind turbine blade manufacturing and packaging materials. In 2025, adhesive revenue accounted for 89.74% of the company’s total revenue. The company’s synthetic resin business is conducted by its controlled subsidiary, Dalian Qihua, whose electronic-grade epoxy resin-related operations generated only 1.2% of the company’s total revenue in 2025—a relatively minor share with no significant impact on the company’s performance. Additionally, the “30,000-ton/year polyarylene ether project” invested in by the company’s wholly-owned subsidiary is still in the engineering design phase and has not yet generated any revenue.
10. Oriental Cable: Recent project wins total approximately RMB 5.231 billion, with deep-sea technology projects totaling approximately RMB 762 million in wins.
Dongfang Cable (603606.SH) announced that the company and its wholly-owned subsidiary, Dongfang Offshore Research Institute, have recently received multiple notice of award notifications confirming their successful bids for projects in green power transmission, new energy power, and deep-sea technology, with a total awarded amount of approximately RMB 5.231 billion. Specifically, the green power transmission projects were awarded approximately RMB 3.356 billion, the new energy power projects approximately RMB 1.113 billion, and the deep-sea technology projects approximately RMB 762 million. These wins will lay a foundation for the company’s performance growth during the 15th Five-Year Plan period; however, there remains uncertainty regarding contract execution and fulfillment.
11. Dashi Intelligence: The first, second, and fifth largest shareholders plan to collectively reduce their holdings by no more than 4.09%.
Dashi Intelligent (002421.SZ) announced that its controlling shareholder, Changdu Dashih, along with its actual controller Liu Pang, and directors Cheng Pengsheng and Su Junfeng, plan to collectively reduce their holdings by no more than 86.626 million shares (representing 4.09% of the company’s total share capital) within three months following 15 trading days after the announcement, through block trading or centralized bidding. The reduction is motivated by funding requirements.
12. Tianqi Lithium: Local fire occurs at Talison’s Phase 3 chemical-grade lithium concentrate facility
Tianqi Lithium announces that the company received a report from its controlled subsidiary, Talison Lithium Pty Ltd (“Talison”), regarding a localized fire incident that occurred during maintenance at its third-stage chemical-grade lithium concentrate facility in Australia. The fire in the affected area was promptly and effectively extinguished, all personnel on-site were safely evacuated, and there are no reports of injuries. Some individual equipment has been damaged, but main equipment and production lines remain unaffected. Following the incident, Talison immediately activated its emergency response plan, and an investigation into the event has been initiated. As of the date of this announcement, Talison is assessing the losses, impacts, and remediation efforts required. This incident may slightly affect the ramp-up schedule of Talison’s third-stage chemical-grade lithium concentrate facility; the specific impact will be determined following further evaluation. Operations at Talison’s other active lithium concentrate facilities are unaffected by this incident.
13. Xingfa Group: Demand and prices for sodium hypophosphite used in storage components rose simultaneously; prices increased by 15%-20% quarter-over-quarter in the second quarter.
Xingfa Group stated on its interactive platform that the company currently has an annual production capacity of 20,000 tons of sodium hypophosphite for storage components. This product primarily supplies electroplating solution manufacturers such as Uemura Chemical, and after further processing into electroplating solutions, enters the supply chains of PCB and storage companies. Affected by increased demand in the storage and semiconductor markets this year, the volume and price of the company’s sodium hypophosphite for storage components have both risen. In the first quarter of 2026, sales volume increased by approximately 24% year-over-year, and the average selling price rose by about 15%. After entering the second quarter of 2026, the product price has increased to RMB 23,000–25,000 per ton, up approximately 15%–20% compared to the first quarter, significantly enhancing profitability.