Mini Program: Quick News Brief on A-Share Pre-Market Highlights
Important News
China successfully launched the ninth batch of satellites for the Qianfan constellation.
At 22:42 on the 17th, the Long March 8 launch vehicle successfully delivered the ninth batch of constellation satellites for the Qianfan constellation into their intended orbit from the Hainan Commercial Space Launch Site; all satellites are functioning normally, and the mission has been completed successfully. (Xinhua News Agency)
2. First domestic transaction: Data center connects to a virtual power plant to participate in electricity spot market trading
On May 14, China’s large-scale data centers participated in the power spot market as virtual power plants, achieving "computing follows electricity"—a first in the country. Three major data center clusters—China Unicom’s Shaoguan Data Center, China Mobile’s Guangzhou and Zhanjiang Data Centers—officially joined spot market energy trading and settlement via the "Yuenengtou Virtual Power Plant Operation Platform" operated by Guangdong Power Grid Energy Investment Co., Ltd., enabling "flexible spot procurement." (China Electric Power News)
3. State Council Meeting: Accelerate the construction of a fertility-friendly society and strengthen support for fertility services.
Premier Li Qiang of the State Council presided over a State Council executive meeting to study work related to population development. The meeting emphasized the need to adapt to new trends in population development, enhance the overall quality of the population, strive to maintain a moderate fertility rate and population size, and promote high-quality population development. It called for accelerating the construction of a society supportive of childbearing, strengthening support for fertility services, improving infant and toddler care services, and establishing a comprehensive policy system to support families. The meeting also stressed the importance of proactively addressing population aging by enhancing social security for the elderly and improving the quality and efficiency of elderly care services. Furthermore, it highlighted the need to refine mechanisms linking land supply and fiscal transfers to population changes, in order to optimize the allocation of public service resources in response to population shifts.
4. The China Securities Regulatory Commission held a symposium on supporting the development of modern service industries and new consumption enterprises.
On May 14, Wu Qing, Secretary and Chairman of the China Securities Regulatory Commission, convened a symposium in Beijing with domestic and international listed companies and enterprise representatives from modern service sectors and new consumption areas, including smart consumption, domestic brand “trendy products,” modern logistics, and IP cultural creativity. He engaged in in-depth discussions and fully listened to their opinions and suggestions. During the symposium, participants put forward specific recommendations focused on further deepening comprehensive reforms in capital market financing and investment, and enhancing the system’s inclusiveness and adaptability. Key proposals included: reforming and improving the issuance and listing rules to better align with the characteristics of modern service and new consumption enterprises; continuously optimizing systems for refinancing, mergers and acquisitions, and equity incentives to support rapid growth and enhance international competitiveness of high-quality enterprises; and persistently guiding medium- and long-term capital into the market. Wu Qing noted that during the 15th Five-Year Plan period, the CSRC will further scientifically plan and introduce more concrete measures to deepen inclusive reforms and promote high-quality development of the capital market, better supporting the growth and strengthening of real economy enterprises across all sectors, including services and consumption.
5. The China Securities Regulatory Commission issues the "Interim Measures for the Supervision and Administration of Derivatives Trading"
On the basis of summarizing practical experience, the China Securities Regulatory Commission has formulated the "Interim Measures for the Supervision and Administration of Derivatives Trading." This is the first departmental regulation issued by the CSRC to regulate the derivatives industry, further clarifying the key institutional rules of the derivatives market. It plays a significant role in standardizing derivatives trading activities, preventing market risks, promoting the steady, healthy, and orderly development of the derivatives market, and protecting the legitimate rights and interests of traders. It also helps enhance the positive role of derivatives trading in risk management, resource allocation, and serving the real economy. The Measures will take effect on November 16, 2026. (CSRC)
6. Wang Yi: President Xi Jinping will make a state visit to the United States this autumn.
Wang Yi briefed the media on the meeting between the Chinese and U.S. heads of state and the consensus reached. The China-U.S. relationship is the most important and complex bilateral relationship in the world, and summit diplomacy serves as the "anchor" for the two countries' relations. Since President Trump took office, the two heads of state have held two meetings, five phone calls, and exchanged multiple letters, providing crucial strategic guidance for the improvement and development of China-U.S. relations and enabling the relationship to remain generally stable despite ups and downs. During this meeting, both heads of state agreed to maintain close contact through further meetings, phone calls, or letter exchanges. At the invitation of President Trump, President Xi Jinping will visit the United States for a state visit this autumn. Both sides should work together to make thorough preparations for the interaction between the two heads of state, foster a favorable atmosphere, and achieve more tangible outcomes. (Xinhua News Agency)
7. Russian President Putin will pay a state visit to China.
The Ministry of Foreign Affairs spokesperson announced: At the invitation of President Xi Jinping, Russian President Putin will pay a state visit to China from May 19 to 20. (CCTV News)
8. ChangXin Technology: Revenue increased by 719.13% year-over-year in the first quarter, with a net profit of RMB 33 billion; expected revenue for the first half of the year is RMB 110–120 billion, with non-GAAP net profit attributable to shareholders of RMB 52–58 billion.
The IPO prospectus (draft for submission) of ChangXin Memory Technologies Group Co., Ltd. on the STAR Market shows that, during January to March 2026, global DRAM products experienced a supply shortage due to sustained growth in global computing power demand and capacity reallocations by major manufacturers worldwide. As a result, DRAM prices have risen significantly since the second half of 2025. Simultaneously, with continuous growth in the company’s production and sales scale and ongoing optimization of its product mix, the company’s revenue increased rapidly. Benefiting from the rapid price increase of DRAM products in the first quarter of 2026, the company’s operating profit, total profit, net profit, EBITDA, net profit attributable to parent company shareholders, and net profit attributable to parent company shareholders after excluding non-recurring gains and losses all increased substantially year-over-year. For January to March 2026, the company’s revenue amounted to RMB 508,001.455 million, representing a 719.13% year-over-year increase; net profit reached RMB 330,115.251 million; net profit attributable to parent company shareholders was RMB 247,620.315 million; and net profit attributable to parent company shareholders after excluding non-recurring gains and losses was RMB 263,407.841 million. The company forecasts its key financial data for January to June 2026 as follows: revenue between RMB 1,100,000 million and RMB 1,200,000 million, representing a year-over-year growth of 612.53% to 677.31%; net profit between RMB 660,000 million and RMB 750,000 million; net profit attributable to parent company shareholders between RMB 500,000 million and RMB 570,000 million; and net profit attributable to parent company shareholders after excluding non-recurring gains and losses between RMB 520,000 million and RMB 580,000 million.
Individual stock news
1. Shanghai Telecom has launched a Token pricing plan, where 1 yuan equals 250,000 quota points, with support for payment via mobile phone bill.
Shanghai Telecom has officially launched Token computing power services for its users, becoming the first operator in Shanghai to offer Token pricing plans. Specifically, users can: (1) purchase on a pay-as-you-go basis, with 1 yuan equivalent to 250,000 quota points (based on the KiMi-K2.5 model, this supports approximately 250,000 input Tokens); and (2) choose according to need—buy only what you use, with discounts available for larger purchases, and payment via phone bill is supported. According to Shanghai Telecom, after purchasing quota points, users can access more than 30 leading large models (text and multimodal) via standard API interfaces, integrating AI capabilities into their own software, scripts, or automated workflows. For example, purchasing 10 yuan worth of 2.5 million quota points can enable a program to automatically summarize approximately 100 e-books, each 100,000 words long. (Shangguan News)
2. China Mobile Shanghai announces the launch of Token universal services: 1 yuan can purchase 400,000 Tokens
On May 17, China Mobile Shanghai held the World Telecommunication Day press conference in Shanghai under the theme “Intelligent Enhancement for Scientific and Technological Innovation in Shanghai.” The core highlights of the event centered on three key dimensions. Among them, intelligent enhancement of public services was emphasized with the official launch of the “AI-Enhanced Shanghai Living Upgrade Plan,” aiming to create a comprehensive digital public service experience encompassing “sky, earth, and human” scenarios. The “Tiantong + Beidou” dual-satellite communication service was introduced to ensure stable connectivity in areas without terrestrial networks; the construction of gigabit home broadband is being accelerated to make “second-level downloads and seamless buffering” standard in every household. Additionally, multiple public service products were unveiled, including Super Portable WiFi, AI-Powered Sports Viewing, and AiJia Lingxi Screen. Embodied intelligent services such as humanoid robots and robotic dogs were also introduced. In collaboration with Tencent, a co-branded WorkBuddy intelligent workstation was launched, offering 400,000 tokens for just 1 yuan, supporting payment via mobile credit and compatibility with multiple models, ushering in a new paradigm for AI-powered work and daily life. (Shanghai Municipal Commission of Economy and Informatization)
3. Yuntian Liling: Shanghai Puyunxin officially inaugurated, advancing the development of AI large-scale computing inference chips and ecosystem collaboration
According to Yuntian Liling, on May 17, its Shanghai subsidiary, Puyuntianxin, was officially inaugurated. Puyuntianxin will leverage the region’s advantages in integrated circuits, artificial intelligence, high-end talent, and industrial ecosystems in the Yangtze River Delta to further enhance the company’s R&D and industrial collaboration capabilities in AI large-scale inference chips, supporting the continuous refinement of its core technology layout for AI inference chips.
4. Ganfeng Lithium: Current inventory days for lithium ore and lithium salts in the industry are at historical lows.
Ganfeng Lithium stated at the 2026 Jiangxi Region Listed Companies Investor Collective Reception Day that it has not seen any reliable industry inventory surveys released; the company believes that current inventory levels of lithium ore and lithium salts in the industry are low, and due to the rapid growth in demand from the lithium-ion battery industry since the beginning of this year, industry inventory days are at historical lows.
5. Gotion High-Tech: Solid-state batteries are rapidly moving toward the "¥1 era"
On May 17, Pan Ruijun, head of solid-state batteries at Gotion High-Tech (002074), stated at the company’s 15th Global Technology Conference that solid-state batteries are rapidly reducing costs; when the price of lithium sulfide drops to RMB 500,000 per ton and the price of solid electrolyte falls to RMB 300,000 per ton, solid-state batteries will enter the “RMB 1 per Wh” era. (Securities Times)
6. CATL deepens strategic cooperation with Xiamen to accelerate the development of a zero-carbon technology city and the low-altitude economy.
Recently, Lin Tao, Member of the Fujian Provincial Party Standing Committee and Secretary of the Xiamen Municipal Party Committee, and Wu Bin, Deputy Secretary of the Xiamen Municipal Party Committee and Mayor of Xiamen, met with Zeng Yujun, Chairman and CEO of CATL. Both sides engaged in in-depth discussions on accelerating the construction of Xiamen’s Zero-Carbon Technology City and deepening comprehensive cooperation across the new energy industry chain, and jointly witnessed the signing of related projects. Under this agreement, CATL will focus on three key areas: First, CATL will establish a regional production base for high-performance automotive and energy storage lithium batteries, integrating full-chain manufacturing of cells, modules, and PACKs to further expand Xiamen’s new energy battery industry cluster. Second, Fengfei Aviation’s eVTOL will strengthen cooperation with the Xiamen municipal government in the low-altitude sector; both parties will build a complete industrial ecosystem centered on “scenario-driven—fleet scaling—infrastructure networking—industrial clustering,” collaborating to create a standardized, routine, and scalable urban air mobility system. Third, both sides will focus on cutting-edge technological research in new energy and the cultivation of high-end talent to provide intellectual support for Xiamen’s new energy industry development.
7. China Mobile: Will strengthen research and development of key core technologies in 5G-Advanced, 6G, and satellite internet.
On the 17th, the World Telecommunication and Information Society Day Conference 2026 was held in Wuhan, Hubei. Chen Huaida, Vice President of China Mobile, introduced at the conference that, in preparation for the "15th Five-Year Plan," China Mobile will strengthen its large-network advantages, renew its businesses in mobile communications, broadband networks, cellular IoT, and satellite connectivity, and build a premium communication network. The company will advance the "Dual Gigabit" network toward a "Dual Ten-Gigabit" network, intensify research and development in key core technologies such as 5G-Advanced, 6G, and satellite internet, enhance security protections for critical information infrastructure, and improve capabilities to mitigate extreme risks. China Mobile is accelerating the construction of the next-generation information infrastructure that integrates communication, sensing, computing, and intelligence, unifies air, space, land, and sea domains, and ensures security and controllability. (Guoshi Direct Line)
8. Juli Suoju: The company has been investigated for suspected misleading statements and violations related to information disclosure.
Juli Rigging announces that on May 15, 2026, the company received a Notice of Initiation of Investigation from the China Securities Regulatory Commission (CSRC), as the company is suspected of making misleading statements in its information disclosure, in violation of relevant laws and regulations including the Securities Law of the People’s Republic of China and the Administrative Punishment Law of the People’s Republic of China. On May 13, 2026, the CSRC decided to initiate an investigation into the company. To date, the company’s operations remain normal. During the investigation, the company will fully cooperate with the CSRC’s efforts, continuously monitor the progress of this matter, and strictly fulfill its information disclosure obligations in accordance with applicable regulations and regulatory requirements.
9. Quzhou Development: Termination of the Acquisition of 95.4559% Shares of Lead Electric Technology
On May 17, Quzhou Development announced that it had previously intended to acquire 95.4559% of Xiantian Electric Science’s shares from its 48 shareholders, including Xiantian Rare Materials, through a share issuance, while also planning to raise accompanying funds by issuing shares to no more than 35 specific investors. However, due to Xiantian Electric Science’s diversified shareholder structure—comprising central state-owned enterprises, local state-owned enterprises, private capital, and industry funds—various shareholders held differing demands and remained unable to reach consensus on transaction pricing and key terms. On the evening of May 15, 2026, Xiantian Rare Materials, the controlling shareholder, sent Quzhou Development a letter titled “Notice of Termination of the Asset Restructuring Transaction with Quzhou Development,” requesting the company to promptly initiate the necessary deliberations and disclosure procedures to terminate the transaction. The company subsequently convened a meeting and approved the resolution “On Terminating the Share Issuance for Asset Acquisition and Accompanying Fund Raising and Related Party Transaction,” agreeing to terminate the proposed share issuance for asset acquisition and accompanying fund raising and related party transaction.
10. Feilingsike: There is currently no product or service collaboration with Hon Hai.
Regarding the question of whether Phicomm directly or indirectly provides AI server ODM/assembly services to Hon Hai, Phicomm responded on the interactive platform on May 16 that, as of now, the company has no related product service cooperation with this enterprise.
11. Haisung Information: Provides computing power support for the First Artificial Intelligence Innovation and Development Exchange Event in the Energy and Power Industry
According to Higon Information, on May 15, the kickoff meeting for the "First Artificial Intelligence Innovation and Development Exchange Event in the Energy and Power Industry," hosted by the Big Data and Artificial Intelligence Branch of the China Electricity Council, was successfully held. At this event, Higon DCUs will provide high-performance computing power, large-capacity storage, and end-to-end large model services to support over 20 research areas, including centralized photovoltaic and wind power generation forecasting, wind turbine blade inspection, power grid maintenance and load forecasting, and coordinated regulation of generation, storage, and load. (E Company)