Mini Program: Quick News Brief on A-Share Pre-Market Highlights
Important News
On May 6, the central bank will conduct a 3-month repurchase operation with a volume of RMB 300 billion.
The central bank has issued a public market outright reverse repurchase auction announcement: To maintain adequate liquidity in the banking system, the People’s Bank of China will conduct a CNY 300 billion outright reverse repurchase operation on May 6, 2026, using a fixed quantity, interest rate bidding, multiple-price award method. The tenor is three months (91 days), with a maturity date of August 5, 2026 (extended if it falls on a holiday).
2. The People's Bank of China and two other departments: Focus on providing financial services to support enterprises in purchasing artificial intelligence equipment and software services, promoting the development of "AI + Industry".
The People’s Bank of China, the National Development and Reform Commission, and the Ministry of Finance jointly issued the "Notice on Expanding the Disbursement of Science and Technology Innovation and Technical Transformation Loans to Further Support Equipment Upgrades." The notice focuses on key links in financial services for science and technology innovation and equipment upgrades, comprehensively optimizing policy measures. It expands the scope of support for science and technology innovation and equipment upgrades by including private small and medium-sized enterprises with high levels of R&D investment into the scope of relending policy support, and extends the scope of loan support for technical transformation and equipment upgrades to 14 sectors, including electronic information, artificial intelligence, facility agriculture, and consumer commercial facilities. It enhances the quality and efficiency of loan services by prioritizing financial support for enterprises purchasing artificial intelligence equipment and software services to promote the development of "AI + Industry." It also optimizes the disbursement and management of relending to improve the efficiency of policy implementation.
3. Central Bank, General Administration of Customs: Further optimize the "not one permit per shipment" management of permits for the import and export of gold and gold products
To further streamline administration, promote trade facilitation, and improve the business environment, the People’s Bank of China and the General Administration of Customs have decided to further optimize the “not one batch, one permit” management system for permits for the import and export of gold and gold products. Legal entities with frequent gold and gold product import and export activities may apply for a “not one batch, one permit” People’s Bank of China Permit for Import and Export of Gold and Gold Products, in accordance with the conditions and approval procedures set forth in the Measures for the Administration of Import and Export of Gold and Gold Products. The “not one batch, one permit” system will be implemented at the following 15 customs offices: Beijing, Shanghai, Guangzhou, Nanjing, Qingdao, Shenzhen, Tianjin, Chengdu, Wuhan, Xi’an, Xiamen, Ningbo, Sanya, Chongqing, and Nanning. All other customs offices will continue to operate under existing regulations. The “not one batch, one permit” permit shall be valid for nine months from the date of issuance and shall automatically expire thereafter. Within the validity period and within the specified quantity limit, the permit may be used for multiple customs declarations without restriction. This announcement shall take effect on June 1, 2026.
Four departments will support local efforts to conduct commercial storage of frozen pork.
To thoroughly implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, and the Ministry of Commerce will jointly guide local authorities to comprehensively utilize relevant fiscal funds to conduct commercial storage of frozen pork, promoting stable market operations.
5. Yi Huiman, former vice chairman of the Economic Affairs Committee of the 14th National Committee of the Chinese People's Political Consultative Conference, has been expelled from the Party and dismissed from public office.
With the approval of the Central Committee of the Communist Party of China, the Central Commission for Discipline Inspection and the National Supervisory Commission initiated an investigation into serious violations of discipline and law by Yi Huiman, a member of the 20th Central Committee and former vice chairman of the Economic Committee of the 14th National Committee of the Chinese People's Political Consultative Conference. Following deliberation by the Standing Committee of the Central Commission for Discipline Inspection and review by the Political Bureau of the Central Committee, it was decided to expel Yi Huiman from the Party, remove him from public office by the National Supervisory Commission, terminate his status as a delegate to the 20th National Congress of the Communist Party of China, confiscate his illicit gains from disciplinary and legal violations, and transfer his suspected criminal offenses, along with related assets, to the people’s procuratorate for legal review and prosecution. The decision to expel him from the Party shall be ratified at a plenary meeting of the Central Committee.
6. In response to the explosion accident at the Liuyang fireworks factory, a State Council accident investigation team will be established.
In response to the explosion accident at the fireworks factory in Liuyang City, Hunan Province, a State Council accident investigation team will be established to thoroughly determine the cause and responsibility of the accident in accordance with the "four non-let-go" principle, strengthen coordination between administrative and criminal proceedings, and strictly pursue accountability. (Xinhua News Agency)
Individual stock news
1. Wuliangye: Net profit of RMB 8.954 billion in 2025, a year-over-year decline of 71.89%; net profit of RMB 8.063 billion in Q1 2026
Wuliangye (000858.SZ) released its 2025 annual report, reporting revenue of RMB 40.529 billion, a year-over-year decrease of 54.55%; net profit attributable to shareholders of the listed company amounted to RMB 8.954 billion, a year-over-year decline of 71.89%. The company plans to distribute a cash dividend of RMB 2.578 per 10 shares (inclusive of tax), based on a total of RMB 3.882 billion, with no bonus shares or capitalization of reserves. In the first quarter of 2026, revenue reached RMB 22.838 billion, and net profit attributable to shareholders of the listed company was RMB 8.063 billion. The adjusted net profit attributable to shareholders of the listed company in the first quarter of 2025 was RMB 4.416 billion, compared to RMB 14.86 billion before adjustment. The performance change is primarily due to a lower base in the same period last year, resulting in year-over-year growth.
2. Seres: New energy vehicle sales increased by 5.22% year-over-year in April 2026.
Seres (601127.SH) released its production and sales report for April, showing sales of 35,461 vehicles in April, a year-over-year decrease of 0.78%; cumulative sales from January to April reached 123,900 vehicles, up 19.02% year-over-year. Of these,新能源汽车 sales in April totaled 33,132 units, up 5.22% year-over-year; cumulative新能源汽车 sales from January to April reached 111,600 units, up 29.74% year-over-year.
3. BYD: Sales of 321,100 units in April, compared to 380,100 units in the same period last year.
BYD (002594.SZ) released its production and sales report, showing April sales of 321,100 units, compared to 380,100 units in the same period last year. Cumulative sales from January to April reached 1,021,600 units, a 26.02% year-over-year decline. In April, the company exported a total of 135,100 new energy vehicles; the total installed capacity of new energy vehicle batteries and energy storage batteries amounted to approximately 20.977 GWh, with a cumulative installed capacity of approximately 81.192 GWh through 2026.
4. Dongyang Guang: Subsidiary signs framework agreement for AI computing power service procurement, with an expected total value of RMB 16 billion to RMB 19 billion
Dongguang Yang announced that its controlled subsidiary, Dongguan Dongguang Yunzhi Computing Technology Co., Ltd., has signed a Framework Agreement for the Purchase of Computing Power Services with Company A. The estimated total contract value ranges from RMB 16 billion to RMB 19 billion (inclusive of tax). The contract term is 60 months from the date of order acceptance, with service fees payable monthly. This collaboration aims to strengthen the company’s presence in the AI computing power and high-performance server support services sectors; however, it is subject to multiple uncertainties, including regulatory policies,履约能力, and funding acquisition, making the impact on the company’s future performance uncertain.
5. SMIC: The Shanghai Stock Exchange's Review Committee for Mergers and Acquisitions will convene a review meeting on May 11 to examine the company’s issuance of shares to acquire assets and related-party transactions.
SMIC announces that the company intends to issue shares to purchase the combined 49% equity interest in SMIC Northern Integrated Circuit Manufacturing (Beijing) Co., Ltd. held by the National Integrated Circuit Industry Investment Fund Co., Ltd., Beijing Integrated Circuit Manufacturing and Equipment Equity Investment Center (Limited Partnership), Beijing Yizhuang International Investment & Development Co., Ltd., Zhongguancun Development Group Co., Ltd., and Beijing Industrial Development Investment Management Co., Ltd. According to the announcement published on the Shanghai Stock Exchange website, "Announcement of the 5th Meeting of the Shanghai Stock Exchange M&A Review Committee in 2026," the M&A Review Committee of the Shanghai Stock Exchange will convene its 5th meeting of 2026 on May 11, 2026, to review the company’s share issuance for asset acquisition and related-party transaction matters.
6. CATL: Completed the H-share placement at an issue price of HK$628.20, generating total proceeds of approximately HK$39.2 billion.
CATL announced that all conditions precedent set forth in the placement agreement have been satisfied, and the placement has been completed on April 30, 2026. A total of 62,385,000 new H shares—representing approximately 28.58% of the total issued H shares after the issuance of the placed shares—were successfully issued and allotted on April 30, 2026, at a placement price of HK$628.20 per placed share to no fewer than six placement subscribers, all of whom and their ultimate beneficial owners are independent third parties (to the best of the directors’ knowledge, information, and belief after making all reasonable inquiries). Immediately following the completion of the placement, no placement subscriber became a substantial shareholder of the Company (as defined in the Listing Rules). The aggregate gross proceeds from the placement amounted to approximately HK$39,190.26 million, and the aggregate net proceeds (after deducting placement commissions and other related costs and expenses of the placement) amounted to approximately HK$39,123.27 million.
7. Silex Microelectronics: Plans to acquire a 10% stake in CompoundTek to strengthen and enhance its competitiveness and market position in silicon photonics contract manufacturing.
Siae Microelectronics (300456.SZ) announced that, based on its assessment of the silicon photonics market outlook, and to further strengthen and enhance its competitiveness and market position in silicon photonics foundry services while promoting technological accumulation and future market expansion, its wholly-owned Hong Kong subsidiary, Yuntong Electronics, entered into agreements with IGSS Ventures and CompoundTek regarding the acquisition of a portion of CompoundTek’s equity and the transfer of silicon photonics process technology. Yuntong Electronics will acquire 10% of CompoundTek’s equity held by IGSS Ventures at a valuation of $40 million USD, and CompoundTek intends to transfer its silicon photonics process technology to a designated party of Yuntong Electronics. The transaction will be funded with the company’s own funds, at a consideration of $4 million USD.
8. Giant Network: Received an administrative regulatory measure decision from the Chongqing Securities Regulatory Bureau, issuing a warning letter to Chairman Shi Yuzhu.
Juren Network (002558.SZ) announced that on April 29, it received an Administrative Supervisory Measures Decision from the Chongqing Branch of the China Securities Regulatory Commission (CSRC). The investigation found that the company engaged in non-compliant conduct: in September 2020, the company’s wholly owned subsidiary transferred 100% of the equity of Hefei Lingxi Interactive Network Technology Co., Ltd. to Shanghai Zhuoxian Interactive Network Technology Co., Ltd., and the funds used by Shanghai Zhuoxian to pay for the equity transfer were traced back to the company’s related parties. The related parties provided funding loans to facilitate the completion of this transaction and were co-participants in the transaction. The company failed to comply with the required procedures for reviewing and disclosing related-party transactions. The Chongqing Branch of the CSRC has decided to issue warning letters to the company, Shi Yuzhu, Liu Wei, and Meng Wei, and will record this matter in the Securities and Futures Market Integrity Archive.
9. Jiangxi Copper: Plans to spin off Jiangxi Copper Foil for listing on the Hong Kong Stock Exchange
Jiangxi Copper announces that, to further optimize its industrial layout, expand financing channels, and enhance the core competitiveness of its subsidiary Jiangxi Copper Foil, the company plans to spin off Jiangxi Copper Foil for listing on the Hong Kong Stock Exchange. This spin-off will not result in the company losing control of Jiangxi Copper Foil, which will remain a controlled subsidiary within the company’s consolidated financial statements and will not have a material impact on the operations or development of the company’s other business segments.
10. Hongban Technology: Subsidiary successfully bids for 100% equity of Jiangxi Zhihao, facilitating rapid expansion of the company’s PCB production capacity.
Hongban Technology (603459.SH) announced that its subsidiary, Ji'an Huiyang Electronics Co., Ltd., successfully acquired 100% of the equity of Jiangxi Zhihao Electronic Technology Co., Ltd. through JD Asset Trading Platform at a transaction price of RMB 419 million. This successful acquisition aligns with the company’s strategic development plan, facilitating rapid expansion of the company’s PCB production capacity and optimization of its industrial layout. It also enables the integration of Jiangxi Zhihao’s existing production capacity, customer base, and technological resources, enhancing the company’s market competitiveness. Furthermore, it supports the company’s plan to expand capacity in the mid-to-high-end printed circuit board segment, strengthening its long-term profitability.
11. Keban Software: Under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure regulations.
Kewei Software (300663.SZ) announced that it received a notice of investigation from the China Securities Regulatory Commission (CSRC) due to suspected violations of information disclosure regulations, and the CSRC has decided to initiate an investigation against the company.