Mini Program: Quick News Brief on A-Share Pre-Market Highlights
Important News
1. The State Administration of Foreign Exchange holds a mid-year 2026 foreign exchange management work exchange meeting
On August 1, the State Administration of Foreign Exchange held a video conference on the exchange of foreign exchange management work for the second half of 2026. The meeting outlined key priorities for foreign exchange management in the second half of 2026, including steadily expanding institutional openness in the foreign exchange sector. It emphasized advancing trade facilitation reforms, introducing a comprehensive set of measures to optimize foreign exchange management for current account transactions, fully promoting high-level openness policies for cross-border trade foreign exchange receipts and payments, supporting the development of new trade forms such as cross-border e-commerce, optimizing foreign exchange settlement for service trade, and enhancing support for intermediate goods trade. The meeting also called for the orderly advancement of high-level openness in capital accounts, launching a package of cross-border investment and financing facilitation policies, nationwide implementation of policies for centralized operation of cross-border RMB and foreign currency funds by multinational corporations, issuing regulations on foreign exchange management for domestic foreign currency loans, and prudently expanding financial market connectivity. Additionally, it stressed strengthening the defense against external shocks by enhancing monitoring of cross-border capital flows, continuously improving macroprudential management and expectations management, and adopting coordinated measures to maintain stability in the foreign exchange market. (State Administration of Foreign Exchange)
2. The People's Bank of China convenes the 2026 second-half work conference: Continue implementing a moderately loose monetary policy.
The People's Bank of China convened the 2026 half-year work conference. The meeting emphasized continuing to implement a moderately loose monetary policy. It called for the comprehensive use of monetary policy tools—including reverse repurchase operations, medium-term lending facilities, and buying and selling government bonds—to provide short-, medium-, and long-term liquidity, maintain ample liquidity, and guide financial institutions to strongly support effective financing needs in the real economy. The mechanism for regulating short-term interest rates will be improved by introducing additional overnight reverse repurchase operation varieties and narrowing the interest rate range for temporary overnight positive and reverse repurchase operations. The implementation and supervision of interest rate policies will be strengthened, urging financial institutions to clearly disclose the comprehensive financing costs of loans and maintain low overall social financing costs. Market communication and expectation management will be enhanced. As of the end of June, the growth rate of total social financing stood at 7.4% year-over-year, and the growth rate of broad money supply was 8.0%. The principle that the market plays a decisive role in exchange rate formation will be upheld, allowing the RMB exchange rate to fluctuate in both directions.
3. State Council Meeting: Effectively expand domestic demand by introducing a series of strong measures in areas with significant potential and strong driving effects.
The State Council’s Standing Committee studied and implemented President Xi Jinping’s important remarks on the economic situation in the first half of the year and on economic work for the second half. The meeting emphasized that thoughts and understanding must be aligned with the Party Central Committee’s scientific assessment of the economic situation, and that more concrete measures should be taken to promote sustained, high-quality economic development toward new, better, and more favorable outcomes, striving for a strong start to the 15th Five-Year Plan. The effectiveness of macroeconomic policies must be genuinely enhanced, fully utilizing existing policies while promptly designing and implementing practical, effective new policies. Domestic demand must be effectively expanded by introducing strong measures in areas with significant potential and strong spillover effects, accelerating the implementation of major projects outlined in the 15th Five-Year Plan, and steadily advancing the planning and construction of the “Six Networks.” Intrinsic growth momentum must be continuously strengthened by introducing more tangible and decisive measures in building a unified market and improving the business environment. Efforts to prevent and resolve risks in key areas must be sustained, with solid work carried out in disaster prevention, mitigation, relief, workplace safety, and support for vulnerable populations to safeguard the basic livelihood safety net.
4. China has newly approved eight nuclear power units, with a total project investment exceeding RMB 170 billion.
In 2026, China will open the approval process for new nuclear power projects. According to a report on CCTV's News Broadcast on July 31, the State Council's executive meeting approved four nuclear power projects, including the Phase I project of Zhuanghe in Liaoning. The newly approved projects include Phase II of the Jinqimen Nuclear Power Plant in Zhejiang (Units 3 and 4), Phase III of the Taipingling Nuclear Power Plant in Guangdong (Units 5 and 6), Phase I of the Zhuanghe Nuclear Power Plant in Liaoning (Units 1 and 2), and Phase I of the Laiyang Nuclear Power Plant in Shandong (Units 1 and 2), totaling eight new units. Nuclear power projects have long been a key driver of effective investment; the total investment for these new projects is estimated to exceed RMB 170 billion. (The Paper)
5. The State Administration for Market Regulation provides price compliance guidance for the photovoltaic industry.
On July 31, the State Administration for Market Regulation conducted price compliance guidance for the photovoltaic industry in Yancheng, Jiangsu Province, implementing the decisions and deployments of the CPC Central Committee and the State Council to thoroughly rectify "cutthroat" competition, promoting a shift among photovoltaic enterprises from competing on price to competing on quality, and fostering high-quality development in the photovoltaic industry. The State Administration for Market Regulation will uphold a balanced approach of regulation and promotion, ensuring alignment between enterprise cost accounting and price supervision and enforcement, and comprehensively employing methods such as reminders, compliance consultations, and administrative guidance to encourage photovoltaic enterprises to engage in standardized price competition. Business entities that are strongly criticized by the industry, severely disrupt market order, and fail to rectify after reminders and consultations will be dealt with seriously in accordance with the law. Representatives from relevant bureaus of the State Administration for Market Regulation, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Commerce, as well as market regulation authorities from Jiangsu, Zhejiang, Anhui, Xinjiang, and other regions, along with representatives from the China Photovoltaic Industry Association and 27 photovoltaic enterprises, participated in the event. (Market Regulation New Voice)
6. Standardize the management of online channel card sales; operators will cease card issuance through third-party internet channels.
On the evening of July 31, China Telecom, China Mobile, and China Unicom released a notice titled "Regulations on Standardizing Online Channel SIM Card Sales." The notice states: To protect user rights and ensure data security, online SIM card ordering services will be uniformly regulated. Starting August 1, 2026, users wishing to order SIM cards via online channels must do so exclusively through official telecom operator apps or websites; third-party online platforms will no longer provide SIM card registration services. (CCTV News)
7. The CSRC imposes fines on multiple securities firms, continuing strict oversight of investment banking activities.
On July 31, the China Securities Regulatory Commission and its local branches publicly disclosed multiple administrative regulatory measures decisions related to investment banking activities, holding several securities firms accountable for violations in their operations and internal controls. The regulatory actions targeted six securities firms: GF Securities, Hongta Securities, Century Securities, Yongxing Securities, Guorong Securities, and Guoyuan Securities. Depending on the severity of each firm’s violations, regulators imposed two types of administrative measures: warning letters and orders to rectify. (CCTV News)
8. Four departments: Strictly prohibit enterprises or individuals with irregular cross-industry operations, excessively high leverage ratios, serious credit violations, or significant legal or regulatory violations from becoming major shareholders or actual controllers of financial institutions.
The Implementation Opinion proposes strictly controlling shareholder eligibility. Establish a firewall between industrial capital and financial capital, prohibiting enterprises or individuals with improper cross-industry operations, excessively high leverage ratios, serious credit defaults, or significant legal or regulatory violations from becoming major shareholders or actual controllers of financial institutions. Conduct transparent identification of major shareholders, actual controllers, and beneficial owners of financial institutions, strengthen reporting obligations for major shareholders and actual controllers, and strictly prohibit concealing control relationships, related-party relationships, or concerted action arrangements. Severely prevent false capital contributions, circular capital injections, and capital withdrawal. (National Financial Supervision and Administration Bureau)
Individual stock news
1. CXMT's LPDDR6 is nearing the end of R&D validation.
Industry insiders revealed that CXMT’s LPDDR6 (sixth-generation low-power double data rate memory standard) is nearing the end of its development and validation phase, a crucial step before mass production. Market reports as early as March this year indicated that CXMT, under the CXMT group, is actively advancing the commercialization of its LPDDR6 product, having already delivered samples to key customers, with expectations for launch and mass production in the second half of 2026. Relevant information indicates that CXMT’s first LPDDR6 product features a design speed of 12,800 Mbps, with a baseline operating speed of 10,667 Mbps when coordinated with SoCs (system-on-chips), a die capacity of 16 Gb, and a POP (package-on-package) configuration using a 1,295-ball BGA package. The design offers significant improvements in power efficiency and RAS (reliability, availability, and serviceability) features compared to LPDDR5X (an enhanced version of LPDDR5). (Yicai)
2. GigaDevice: Plans to repurchase company shares worth RMB 1 billion to RMB 2 billion
GigaDevice announces that within six months from the date the shareholder meeting approves this share repurchase plan, the company intends to repurchase shares with a total amount of RMB 1 billion to RMB 2 billion, at a price not exceeding RMB 750 per share. The funds for the repurchase will come from the company’s own funds and/or raised capital.
3. BYD: Production of new energy vehicles exceeded 420,000 units in July 2026; overseas sales approached 180,000 units.
BYD announced that it exported 180,538 new energy vehicles in July 2026. That month, new energy vehicle production reached 420,249 units, compared to 317,892 units in the same period last year; year-to-date production totaled 2,234,379 units, down from 2,454,925 units in the same period last year, representing an 8.98% year-over-year decline. Sales for the month amounted to 419,211 units, compared to 344,296 units in the same period last year; year-to-date sales totaled 2,227,722 units, down from 2,490,250 units last year, representing a 10.54% year-over-year decline. Overseas sales approached 180,000 units, setting a new all-time high.
4. Fuhang Micro: Net profit for the first half of the year is expected to increase by 1,073% to 1,420% year-over-year, due to rising prices in global electronics storage and tight supply of upstream raw materials leading to product price adjustments.
Fuhang Micro (300613.SZ) announced that it expects its net profit attributable to shareholders of the listed company for the first half of 2026 to range from RMB 270 million to RMB 350 million, representing a year-over-year increase of 1,073% to 1,420%. In particular, both revenue and net profit attributable to shareholders in the second quarter reached all-time quarterly highs. During the first half of 2026, the global electronics industry experienced significant price increases in memory products, while other upstream raw materials—including PCBs, resistors, and capacitors—faced supply shortages and rising prices, prompting the company to raise its product prices. Sales volumes across the company’s three major business segments increased substantially. Coupled with higher product prices, all business lines achieved strong growth in both volume and pricing year-over-year. Through mature supply chain management and diverse product solutions, the company successfully ensured sufficient product delivery to customers. The market response to the company’s new AI-ISP chip has been positive, and customer expansion into new areas such as robotics is progressing steadily. In the long term, edge and endpoint AI applications have been scaled up, with AI technology widely adopted in smart terminals and edge hardware. Markets such as embodied intelligence, robotics, and smart home terminals are gradually gaining momentum, providing strong support for the growth of the company’s core businesses. The company’s Q2 net profit is expected to range from RMB 185 million to RMB 265 million, compared to RMB 85 million in Q1, implying a sequential growth of 117% to 211% in Q2 net profit.
5. Tianli Lithium Energy: The company and its controlling shareholder and actual controller received a notice of investigation from the China Securities Regulatory Commission.
Tianli Lithium Energy (301152.SZ) announced that the company, along with its controlling shareholder and actual controller, Wang Ruiqing, received a Notice of Investigation from the China Securities Regulatory Commission (CSRC) due to suspected violations of information disclosure and other regulations. The CSRC has decided to initiate an investigation against the company and Wang Ruiqing. The company’s daily operations are proceeding normally, and this matter is not expected to have a material impact on its production and business activities.
6. Fuhang Micro: Net profit is expected to increase by 1,072.72% to 1,420.19% year-over-year in the first half of 2026.
Fuhanwei announced that it expects its net profit attributable to shareholders of the listed company for the first half of 2026 to range from RMB 270 million to RMB 350 million, compared to RMB 23.0234 million in the same period last year, representing a year-over-year growth of 1,072.72% to 1,420.19%. The net profit after non-recurring gains and losses is expected to range from RMB 266 million to RMB 346 million, up by 1,640.93% to 2,164.52% year-over-year. Revenue is projected to reach RMB 1.4 billion to RMB 1.5 billion, an increase of 103.48% to 118.01% year-over-year. The growth is primarily driven by a significant rise in storage prices and tight supply of upstream raw materials, prompting the company to raise product prices, resulting in increased volume and pricing across all three business segments.
7. Yibo Technology: Revenue of RMB 709 million in the first half of 2026, net profit up 1,561.55% year-over-year
Yibo Technology announced that, for the first half of 2026, the company achieved revenue of RMB 709 million, a 41.63% year-over-year increase; net profit attributable to shareholders of the listed company amounted to RMB 63.83 million, up 1,561.55% year-over-year; non-GAAP net profit reached RMB 60.05 million, up 3,005.41% year-over-year; and net cash flow from operating activities was RMB 52.76 million, up 401.57% year-over-year. As of the end of the reporting period, the company’s total assets stood at RMB 3.051 billion, an increase of 5.52% compared to the end of the previous fiscal year; and shareholders’ equity attributable to the listed company totaled RMB 2.205 billion, up 2.48% compared to the end of the previous fiscal year.
8. Jiechuang Intelligence: Since 2026, the company has signed projects in the domestic computing power sector totaling approximately RMB 430 million.
Jiechuang Intelligence recently disclosed its investor relations activity record, stating that the company continues to monitor opportunities in the development of domestic computing power industries. Leveraging its "Changqing Cloud" platform, the company is actively advancing compatibility and ecosystem collaboration for domestic software and hardware, providing customers with products and services including general-purpose computing power, intelligent computing power, and private/hybrid cloud solutions.
9. Mingpu Photonics: Plans to raise no more than RMB 1.283 billion through a private placement for projects including high-speed optical module intelligent manufacturing.
Mingpu Optoelectronics (002902.SZ) announced that the company plans to issue A-shares to no more than 35 specific investors, raising a total of no more than RMB 1.283 billion. After deducting issuance expenses, the funds will be used for the intelligent manufacturing project of high-speed optical modules, the industrialization project of high-speed optical devices and advanced passive components, the intelligent manufacturing project of high-speed optical chips, and working capital replenishment. The number of shares issued shall not exceed 30% of the company’s total share capital prior to the issuance, or no more than 70.5027 million shares.
10. Aili Home: Cumulative price increase of 135.77% from July 21 to July 31; trading suspended for review starting August 3.
Aili Home (603221.SH) announced that its stock repeatedly triggered abnormal trading and severe abnormal trading conditions between July 21 and July 31, 2026, with a cumulative price increase of 135.77%. To protect investor interests, the company’s stock will be suspended from trading at the opening on August 3, 2026, and will resume trading after the disclosure of the verification announcement. The company’s underlying fundamentals have not undergone significant changes; however, the stock price has severely deviated from its fundamentals, posing risks of irrational speculation.
11. Jiaoda Angli: Starting August 4, it will be subject to other risk warnings, and its A-share abbreviation will be changed to "ST Jiao Ang".
Jiaotong Angli (600530.SH) announced that it received a Notice of Administrative Penalty from the Shanghai Branch of the China Securities Regulatory Commission (CSRC), due to false statements in its 2023 correction announcement for accounting errors and in its 2024 annual report. The company is suspected of understating its total profit for 2021 by RMB 23.5 million, accounting for 213.52% of the corrected total profit disclosed in the 2021 annual report, resulting in false statements in the 2023 correction announcement. It is also suspected of inflating its total profit for 2024 by RMB 23.5 million, accounting for 60.26% of the total profit disclosed in the 2024 annual report, leading to false statements in the 2024 annual report. The CSRC intends to order the company to rectify the violations, issue a warning, and impose a fine of RMB 4 million; it also plans to issue warnings and impose fines of RMB 2 million, RMB 1 million, and RMB 1 million on the responsible individuals Ji Lin, Ji Min, and Cao Yi, respectively. The company’s stock will be subject to other risk warnings but does not meet the criteria for mandatory delisting due to serious violations. The company’s stock will be suspended for one day on August 3, 2026, and subject to other risk warnings starting August 4, 2026. The A-share abbreviation will be changed to “ST Jiao Ang,” with daily price fluctuation limits set at 10%.