A-shares Pre-Market Report | Easing of US-Iran Diplomacy Leads to a Plunge in Oil Prices, Optical Communication and Storage Concepts Counterattack, Alibaba's US Stocks Surge Temporarily

Pre-Market News 1. U.S.-Iran diplomatic easing significantly affects oil prices, optical communication and storage concepts rebound, Alibaba's U.S. stocks briefly surge Type: Market Sentiment Impact: Positive The three major U.S. stock indices collectively closed up, with tech stocks rebounding from the previous trading day's sell-off. NVIDIA rose 2.2%, ending the longest streak of declines since 2022. Most stocks in the optical communication and storage sectors rose, with Lumentum up over 6%, and Seagate Technology and Western Digital both up over 3%. Alibaba's U.S. stocks briefly increased by more than 2% as founder Jack Ma has been continuously buying Alibaba's Hong Kong stocks, totaling over 600 million Hong Kong dollars. The U.S. and Iran have reached a consensus on the terms of a ceasefire agreement, including the free navigation of the Strait of Hormuz, causing Brent crude oil to drop by as much as 6%. 2. National Development and Reform Commission holds a key meeting to accelerate the construction of the "six networks" Type: Industry Sentiment Impact: Positive On August 25, Deputy Director of the National Development and Reform Commission, Yue Xiuhu, hosted a meeting to coordinate the "six networks" collaboration. The meeting focused on improving the diversified investment and financing models for the "six networks," categorizing and refining support policies in finance, investment, and other areas, and promoting the establishment of a sound investment and financing mechanism suitable for different fields and types of engineering projects to provide strong support for the accelerated construction of major engineering projects. 3. Surging over 124%! PCB leader reports positive results; Wus Printed Circuit and Jiangxi Redboard Technology disclose semi-annual reports Type: Company Sentiment Impact: Positive On August 25, A-share PCB leader Wus Printed Circuit disclosed its financial report, showing a net profit growth of over 73% year-on-year in the first half of the year. Additionally, "PCB star stock" Jiangxi Redboard Technology reported a significant net profit growth of over 124% year-on-year for the first half of 2026, with a quarter-on-quarter net profit increase of 235% in the second quarter. Meanwhile, semiconductor equipment leader NAURA Technology Group also revealed its semi-annual report, showing a 24.9% year-on-year revenue increase and a 5.05% rise in net profit attributable to the parent company. 4. Shanghai issues document to expand transaction scale of metals like copper and aluminum, supports micro-short drama enterprises going abroad Type: Macro Sentiment Impact: Positive Shanghai has issued the "15th Five-Year Plan for Accelerating the Construction of Shanghai's International Trade Center." This plan mentions the acceleration of expanding the transaction categories of bulk commodities, increasing the transaction scale of key metals such as copper and aluminum, and accelerating the improvement of futures varieties for emerging metals like lithium, cobalt, and nickel. It also supports micro-short drama enterprises to enhance their cultural "new three samples" overseas capabilities through overseas platforms. 5. Q2 net profit plummets nearly 80%! Luzhou Laojiao's performance faces significant pressure, sales of mid-to-high-end liquor decline impacting revenue Type: Company Sentiment Impact: Negative On August 25, Luzhou Laojiao released its 2026 semi-annual report. In the first half of the year, the company reported revenue of 10.472 billion yuan, a year-on-year decline of 36.35%; net profit attributable to the parent company was 4.339 billion yuan, a year-on-year decrease of 43.37%. Notably, the second quarter saw a dramatic decline in performance, with net profit down 79.45% year-on-year. The company explained that this was "mainly due to the decrease in product sales during this period." Industry analysts believe that the sharp performance decline of Luzhou Laojiao is a direct result of the collision between the company's "volume control and price support" strategy and competitors' "price cuts and volume increases" strategy. Investment Calendar Press conference held by the State Council Information Office Investment Insights Market rationality depends on the players, who are often irrational. Therefore, rather than fixating on the market's rationality, it is more productive to invest energy in studying the mentality and behavior of the players. This is the key to determining investment success or failure. "U.S." Jim Rogers, "Crisis Era" Institutional Views 1. CMSC: U.S. bond yields still have the potential for further high-level fluctuations; pay attention to structural opportunities in A-shares. 2. Industrial: September will be an important decisive window for technology; the economic environment is still the core clue for allocation. 3. Orient: The first round of "overdue rebounds" for non-tech and tech sectors has been completed; the market is waiting for the "starting gun" for the rebound amid reduced trading volume. Preview of Positive and Negative Factors 1. For the first time, autonomous driving is written into law, marking a shift from "patchwork corrections" to "systematic restructuring" Type: Market Discussion Huatai: 2026 is a crucial year for the global Level 4 autonomous driving industry; the clarification of the U.S. federal legislative framework combined with the landing of China's Level 3 pilot projects and acceleration of Level 4 commercialization suggests focusing on key targets in the autonomous driving supply chain. 2. Musk draws up a $100 billion "pie"! SpaceX announces plans to build the world's largest launch site Type: Institutional Commentary Guotai Haitong: Commercial space is expected to drive the collaborative development of multiple industries like low-orbit internet constellations, satellite navigation, and satellite communication; policies being rolled out in various regions are likely to catalyze China's commercial aerospace industry into the "fast lane." 3. Huawei Mate 90 set to debut, with active cooling potentially being the biggest highlight Type: Market Discussion Guosheng: Liquid cooling is moving from expectation to actual volume; from an industrial landscape perspective, the focus of competition in liquid cooling has shifted from technological superiority to supply chain access and project delivery capabilities, emphasizing leading companies with full-chain capabilities deeply integrated with mainstream computing platforms. Announcement Quick Dispatch Positive Announcements 1. OKE Precision Cutting Tools: Net profit for the first half of 2026 is 371 million yuan, up 47734.24% year on year. 2. Ji'an Mankun Technology: Plans to repurchase shares worth 50 million to 100 million yuan for employee stock ownership or equity incentives. 3. Actblue Co., Ltd.: Signed a contract for 1.109 billion yuan for computing resource services. Negative Announcements 1. Visual China Group: Shareholder Liang Jun plans to reduce holdings of no more than 3% of the companys shares. 2. Luzhou Laojiao: Net profit for the first half of 2026 is 4.339 billion yuan, down 43.37% year on year. 3. Shenzhen Coship Electronics: The company's 150 million yuan investment lawsuit has been officially filed for trial. Overseas Markets Oil prices and U.S. bond yields retreat, with the three major indices collectively closing up. NVIDIA rose over 2%, ending its longest decline since 2022, as the market awaits its earnings report post-market on Wednesday; most stocks in the optical communication and storage sectors rose, with Lumentum up over 6%, SK Hynix and Micron Technology up over 2%; the NASDAQ Golden Dragon China Index rose 1.11%. This article is reprinted from Tencent Stock Selection, edited by GMTEight: Xu Wenqiang.