Mini Program: Quick News Update on A-Share Pre-Market Market
Important News
1. Eight central financial enterprises will increase their capital by a total of 360 billion yuan.
On September 6, eight central financial enterprises, including Industrial and Commercial Bank of China, each announced capital increase plans to supplement their core Tier 1 capital. According to statistics, these eight central financial enterprises collectively plan to raise 360 billion yuan, which will further enhance their ability to operate stably, withstand risks, and serve the real economy. According to the announcements, China’s two largest state-owned commercial banks, Industrial and Commercial Bank of China and Agricultural Bank of China, intend to issue A-shares to specific investors—the Ministry of Finance, China National Tobacco Corporation, and its related subsidiaries—with planned fundraising amounts not exceeding 100 billion yuan and 160 billion yuan, respectively. In addition, the Ministry of Finance will inject 30 billion yuan and 10 billion yuan into the two policy financial institutions, China Export-Import Bank and China Export & Credit Insurance Corporation. On the same day, four state-owned commercial insurance companies also announced capital increase plans. People’s Insurance Company of China plans to issue A-shares to the Ministry of Finance as a specific investor, with planned fundraising not exceeding 15 billion yuan. The Ministry of Finance will inject 35 billion yuan and 7 billion yuan into China Life Insurance Group and China Taiping Insurance Group, respectively. China Reinsurance plans to have the Ministry of Finance subscribe to its domestic shares in cash, with planned fundraising of 3 billion yuan. (Xinhua News Agency)
2. The central bank will conduct a 500-billion-yuan outright reverse repurchase operation today.
The People's Bank of China: On September 7, 2026, the People's Bank of China will conduct a 500 billion RMB outright reverse repurchase operation with a fixed quantity, interest rate bidding, and multiple-price winning method, with a term of three months (89 days), maturing on December 5, 2026.
3. The Cyberspace Administration of China and six other departments: Explore 800V high-voltage DC power supply architectures for computing power facilities, and promote single-rack deployments exceeding 100 kW.
The Implementation Plan for Promoting the Coordinated Digital and Green Transformation and Development (2026–2030) highlights the green and low-carbon development of computing infrastructure. It strengthens green design of computing facilities, supports technological innovation and application of liquid cooling, waste heat recovery, and low-power chips, explores 800V high-voltage DC power supply architectures for computing facilities, and promotes single-rack deployments exceeding 100 kW. It optimizes green operational models for computing facilities by focusing on key technologies such as digital twin simulation and multimodal sensing, deepening innovative applications of AI algorithms in green operation scenarios, and building an intelligent management system covering the entire lifecycle of computing facilities to enable real-time monitoring, prediction, and dynamic adjustment of energy efficiency, as well as intelligent data center operations. It promotes coordinated development between computing and power systems by aligning green electricity demand for computing facilities with renewable energy absorption needs, guiding computing resources to cluster in regions rich in wind, solar, and hydropower resources, advancing technologies and standards for coordinated scheduling of computing and power, direct green electricity connectivity, and efficient, long-duration, large-capacity new energy storage solutions, and promoting green certificate and green electricity trading to significantly increase the proportion of green electricity used by computing facilities. It accelerates the update and transformation of outdated, small-scale, and dispersed computing infrastructure equipment, promotes advanced and applicable energy-saving and carbon-reduction technologies and equipment, conducts energy conservation inspections and energy-saving and carbon-reduction diagnostic services, and encourages energy-efficient upgrades of computing facilities.
4. Private placement individual qualified investor threshold: Financial assets of at least 5 million RMB, or an average annual income of at least 500,000 RMB over the past three years.
The China Securities Regulatory Commission is seeking public comments on the "Measures for the Supervision and Administration of Private Fund Raising," aiming to further strengthen oversight of private fund raising activities. The Measures propose that individuals be recognized as qualified investors if they have at least two years of investment experience in securities, funds, futures, equity, or similar assets, and either household financial assets of no less than RMB 5 million, household financial net assets of no less than RMB 3 million, or an average annual personal income of no less than RMB 500,000 over the past three years, along with the corresponding ability to identify and bear risks. For private funds whose primary assets are invested in real estate project company equity, single targets, overseas assets, over-the-counter derivatives, etc., individual investors must have at least four years of investment experience, household financial assets of no less than RMB 10 million, and household financial net assets of no less than RMB 6 million.
5. National Energy Administration: In July, a total of 4,276 newly registered new energy power generation projects (excluding residential photovoltaic) were added nationwide.
The National Energy Administration has released an announcement regarding the status of newly registered new energy power generation projects (excluding residential photovoltaic) nationwide in July 2026. In July 2026, a total of 4,276 newly registered new energy power generation projects (excluding residential photovoltaic) were added nationwide, including 38 wind power projects, 4,236 photovoltaic power projects (29 utility-scale photovoltaic projects and 4,207 commercial and industrial distributed photovoltaic projects), and 2 biomass power projects. (National Energy Administration)
Individual stock news
1. Agricultural Bank of China: Plans to introduce China Tobacco and its subsidiaries as strategic investors
The Agricultural Bank of China announced that its board of directors approved a proposal to introduce China National Tobacco Corporation and its related subsidiaries as strategic investors through the issuance of A-shares to specific parties, and to sign conditional effective strategic cooperation agreements and conditional effective share subscription agreements. The Ministry of Finance plans to subscribe for RMB 130 billion, China National Tobacco Corporation for RMB 10 billion, Jiangsu Tobacco, Zhejiang Tobacco, and Hubei Tobacco each for RMB 5 billion, Beijing Tobacco for RMB 3 billion, and Shuangwei Investment for RMB 2 billion. The net proceeds from this issuance, after deducting related issuance expenses, will be used entirely to supplement core Tier 1 capital. (Xinhua News Agency)
2. Industrial and Commercial Bank of China plans to raise no more than RMB 100 billion to supplement its capital.
ICBC announced that it plans to issue A-shares to specific investors, including the Ministry of Finance of the People's Republic of China, China National Tobacco Corporation, and its related subsidiaries, with an intended fundraising amount not exceeding RMB 100 billion. The net proceeds, after deducting relevant issuance expenses, will be used entirely to supplement core Tier 1 capital. This capital increase is subject to internal and external approval procedures before implementation. (Xinhua News Agency)
3. Zhongji Xuchuang: Controlling shareholder releases pledge of 1.35 million shares
Zhongji Xuchuang (300308.SZ) announced that its actual controller, Wang Weixiu, has released 1.35 million shares from pledge through Guangfa Securities, accounting for 1.94% of his total holdings and 0.11% of the company’s total share capital. As of the announcement date, Wang Weixiu and his concert parties have collectively pledged 5.328 million shares, representing 2.76% of their combined holdings.
4. Zijin Mining issues a statement addressing errors in its financial report text
Recently, numerous basic textual errors in Zijin Mining's 2026 interim report sparked widespread discussion. On September 5, Zijin Mining issued an announcement titled "Correction Notice Regarding Certain Textual Errors in the Financial Statement Notes of the Periodic Report." The announcement stated that, after verification, these errors did not involve any financial data, accounting items, or operating metrics in the periodic report and would not materially affect the truthfulness, accuracy, or completeness of any previously disclosed periodic reports. Zijin Mining expressed, "We sincerely apologize to investors and relevant parties. Moving forward, the company will further improve its internal information disclosure management system, strictly enforce review and approval procedures, and enhance communication and coordination with the annual audit accounting firm to prevent such issues from recurring."
5. XCMG: Gross profit margin is expected to continue growing year over year.
XCMG Machinery stated in its investor relations activities that the company is actively enhancing profitability through a “one stabilization, one reduction, four adjustments” system—stabilizing product pricing, reducing costs across procurement, R&D, and production, and simultaneously optimizing the four structural areas: products, industries, markets, and customers. The company expects its gross margin to continue growing year-over-year through 2026 and for an extended period thereafter.
6. Huawei Guanggong Technology: Huawei Guangyuan’s 100G SFP112 optical module will be unveiled at CIOE 2026
Huagong Technology's subsidiary, Huagong Zhengyuan, has announced that it will dynamically showcase a 100G SFP112 optical module at CIOE 2026, offering the world’s smallest-form-factor 100G optical module solution for 5G-A/6G wireless fronthaul and high-bandwidth Ethernet interconnect scenarios. The SFP112 form factor is compatible with the SFP+ MSA standard. Compared to traditional QSFP28 solutions, it enables more 100G ports to be deployed in the same panel space, with lower power consumption and cost, while significantly improving density and total bandwidth.
7. Changying Precision: In the first half of the year, approximately 860,000 humanoid robot components were delivered, exceeding last year’s full-year total.
Changying Precision recently stated during an institutional investor briefing that it is a Tier 1 supplier to leading global humanoid robot OEMs. For the full year of 2025, the company delivered approximately 690,000 humanoid robot components, and in the first half of 2026, deliveries reached about 860,000 units—exceeding the total for the entire previous year. The company expects order growth to accelerate further in the second half of this year and the first half of next year.
8. Meggitt Intelligence: Plans to jointly establish a joint venture with StarYuan Photonics, a photonic chip company, to engage in businesses such as optical components and optical engines.
Megi Intelligent (002881.SZ) announced that the company plans to jointly establish Meige Guangxin (Shanghai) Technology Co., Ltd. with ZhaoGe Venture and Xingyuan Optoelectronics, with a registered capital of RMB 100 million. The company will contribute RMB 70 million, holding a 70% stake; ZhaoGe Venture will contribute RMB 20 million, holding a 20% stake; and Xingyuan Optoelectronics will contribute RMB 10 million, holding a 10% stake. The joint venture will develop, design, and package optical components, optical engines, and related modules and subsystems based on Xingyuan Optoelectronics’ advanced InP laser chips, while integrating core resources such as electronic chips across the supply chain to develop and manufacture optical communication modules for data centers.
9. Weixing Shares: In the long term, the concentration of the apparel accessories industry will gradually increase.
Recently, Weixing Co., Ltd. stated during an institutional investor briefing that the apparel trim industry exhibits regional clustering with differentiated development, featuring relatively few large-scale enterprises and low market concentration, with intense competition—particularly in the mid- to low-end product segments. In the long term, as international orders continue to shift and industry competition intensifies, leading companies with early international expansion and strong overall competitiveness will gain a distinct advantage, leading to a gradual increase in market concentration within the apparel trim industry.
10. Xingye Technology: The China Securities Regulatory Commission has decided to open an investigation into the company for suspected violations of information disclosure regulations.
Xingye Technology (002674.SZ) announced that on September 4, 2026, the company received a Notice of Investigation from the China Securities Regulatory Commission (CSRC) due to suspected violations of information disclosure regulations. The CSRC has decided to initiate an investigation against the company. During the investigation, the company will actively cooperate with the authorities and fulfill its information disclosure obligations as required. Currently, the company’s production and business operations are proceeding normally, and this matter is not expected to have a material impact on its operations.
11. *ST Cuihua: Failure to disclose the 2025 annual report before September 6 triggers a compliance-related delisting condition; the Shenzhen Stock Exchange will decide to terminate the company’s stock listing.
*ST Cuihua (002731.SZ) announced that its stock will be subject to delisting risk warning effective from the opening of trading on July 7, 2026, due to the company’s failure to disclose its 2025 annual report, certified by a majority of directors as true, accurate, and complete, within two months of being imposed with the delisting risk warning (before September 6, 2026). This constitutes a compliance-related delisting condition, and the Shenzhen Stock Exchange will decide to terminate the listing of the company’s stock. The company’s stock will remain suspended effective September 7, 2026. The Shenzhen Stock Exchange will make a decision on whether to terminate the stock listing within the prescribed period after the occurrence of the compliance-related delisting condition. If the stock is ultimately subject to a termination decision, starting from the trading day immediately following the expiration of five trading days after the announcement of the termination decision by the Shenzhen Stock Exchange, the stock will enter the delisting consolidation period.