GMT EIGHT - OPPORTUNITIES IN CHINA

CITIC SEC: Upgraded AI computing power facilities driving optimism for the future development and investment opportunities in the glass substrate industry chain.

CITIC Securities released a research report stating that, driven by the demand for upgrading AI computational power facilities, glass-based carrier boards are expected to become an important direction for future packaging substrate upgrades due to advantages such as low coefficient of thermal expansion (CTE), higher flatness, lower warpage, finer TGV aperture/wiring, and higher interconnect density.

Organization of the Petroleum Exporting Countries (OPEC): Seven participating countries have decided to implement a production adjustment of 188,000 barrels per day.

CMSC: How will the A-share market and technology direction evolve under the impact of overseas liquidity?

CMB Securities released a research report stating that, in the short term, if there are temporary disturbances in market sentiment, margin financing funds may flow out, leading to a temporary pause in the direction of clustering and increasing market volatility in the next one to two weeks.

Sinolink: Optimistic about AI copper-clad laminates and core algorithm computing hardware, semiconductor equipment and the Apple supply chain.

Guojin Securities released a research report stating that they are optimistic about AI covering copper boards/PCBs, core computing power hardware, semiconductor equipment, and Apple's supply chain.

New Stock News | Grebo submits an application to the Hong Kong Stock Exchange to stake a claim in the 800V high-voltage electric drive and AI computing power supply track.

According to the disclosure by the Hong Kong Stock Exchange on June 7, Graybo Intelligent Power Technology Co., Ltd. (hereinafter referred to as "Graybo") has submitted an application to the Hong Kong Stock Exchange Main Board, with CICC as its exclusive sponsor.

Source: Since the closure of the Hormuz Strait, OPEC+ is about to raise oil production quotas for the fourth time.

Three OPEC+ sources revealed that despite the ongoing US-Iran conflict leading to several member countries being unable to increase crude oil production, OPEC+ will reach a resolution this Sunday to raise its crude oil production target for the fourth consecutive month. The sources indicated that the seven member countries mentioned above are expected to finalize the plan this Sunday to raise the production target by approximately 188,000 barrels per day starting from July. This increase is consistent with the one in June; the previous monthly increases in April and May were 206,000 barrels per day, but were subsequently reduced to the current level due to the UAE's withdrawal. All sources interviewed requested anonymity and stated that the final resolution has not yet been officially confirmed.

New stock news | Greybo submits a form to the Hong Kong Stock Exchange.

According to the disclosure by the Hong Kong Stock Exchange on June 7th, Grebo Intelligent Power Technology Co., Ltd. (referred to as "Grebo") has submitted its application to the Main Board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited as its exclusive sponsor.

Graybo Intelligent Power Technology Co., Ltd. has submitted its application for listing on the Hong Kong Stock Exchange, with China International Capital Corporation Limited as the sole sponsor.

New Stocks News | Xian Artificial Intelligence undergoes hearing at the Hong Kong Stock Exchange, expected to continue operating at a loss this year.

According to the disclosure by the Hong Kong Stock Exchange on June 7th, Shanghai Xiangong Intelligent Technology Co., Ltd. (referred to as "Xiangong Intelligent") has held a listing hearing on the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited as its exclusive sponsor.

SpaceX is planning to raise money for building a "space data center" through its IPO but is renting computing power at a high price to Google and Anthropic! Netizens are discussing: Why is this happening?

SpaceX is about to sprint towards the largest IPO in US history, seemingly with unlimited glory through signing a $26 billion annual computational power leasing contract with Google and Anthropic. However, critics point out that the pricing of this deal exceeds market value and is suspected of being a "circular financial" transaction. This is nothing but a "bad mess monetization" of xAI due to the confusion in GPU architecture and setbacks in model training. The logical contradiction between the vision of a space data center and renting out idle computational power is causing a hidden narrative of a $75 billion IPO to emerge.

In one year, 66 new A-share companies with a market value of over 100 billion yuan have risen to 201, reshaping the landscape of high-value companies.

As of June 5, 2026, the total number of A-share listed companies with market capitalization exceeding one trillion reached 201, up from 135 just one year ago.

Industrial: How to view Black Friday in the US stock market? How does it affect the A-share market?

Guosen Securities released a research report stating that in terms of allocation strategies, it is emphasized that there is no need to switch just for the sake of switching.

China Galaxy Securities: The continuing differentiation between software and hardware, domestically produced computing power is expected to break through bottlenecks.

China Galaxy Securities released a research report stating that Huawei has proposed the "Tao Law", and domestic computing power is expected to break through bottlenecks. In addition, operators have launched token packages to promote the commercialization of AI and open an era of universal popularization.

Zhongtai: How will overseas liquidity tightening expectations affect A-shares?

Zhongtai Securities released a research report stating that the significant pullback in the technology sector of the US stock market on Friday may exert some pressure on the opening of the A-share market on Monday, but the market around the window of major IPOs may still maintain a certain resilience.

New stock news | Cross-border taxation leader Qingtian Full Tax Pass re-submitted its application to the Hong Kong Stock Exchange. The market penetration rate is approximately 7.5%.

According to the Hong Kong Stock Exchange disclosure on June 5th, Nanjing Qingtian Quanshuitong Information Technology Co., Ltd. (referred to as Qingtian Quanshuitong) submitted an application to the Hong Kong Stock Exchange main board, with Industrial and Commercial Bank International as its exclusive sponsor.

New stock news | Qingtian Quanshuitong submitted another application to the Hong Kong Stock Exchange

According to the disclosure by the Hong Kong Stock Exchange on June 5, Nanjing Qingtian Quanshui Information Technology Co., Ltd. (referred to as: Qingtian Quanshuitong) has submitted an application to the Hong Kong Stock Exchange Main Board, with Industrial and Commercial Bank International as its exclusive sponsor.

Huang Renxun meets with representatives of two major Korean game companies to discuss cooperation on game AI projects.

On the 7th, NVIDIA CEO Huang Renxun visited a internet cafe in the Gangnam district of Seoul and met with the founder and chairman of South Korean gaming company KRAFTON, Jiang Binggui, as well as a representative of game developer NCSOFT, Kim Jecheon. Around 1:20 in the afternoon, Huang Renxun arrived at the entrance of the internet cafe and greeted the citizens waiting on the side of the road. He then shook hands and took photos with Jiang Binggui and several executives from KRAFTON. It is reported that Huang Renxun and Jiang Binggui may have discussed cooperation in the gaming field, such as physical AI and humanoid robots, as well as collaborations based on NVIDIA's recent release of the first AI laptop series "RTX Spark". After the meeting with KRAFTON executives, Huang Renxun moved to another nearby internet cafe to meet with Kim Jecheon and NCSOFT executives. He greeted the players in the cafe and personally learned about NCSOFT's new game "Tower of Eternity 2". NVIDIA has provided the latest graphics technology support for "Tower of Eternity 2". Huang Renxun also participated in a live stream with Kim Jecheon to exchange views on the development direction of the gaming industry and AI technology.

Goldman Sachs metal manager discusses "gold, silver, copper, aluminum": gold and silver are under pressure, copper is risky, aluminum is most certain.

Goldman Sachs' metal trading head, Tony Kim, stated that institutional net selling exceeded $40 billion, yet gold price remained stable at $4,400, which precisely proves that gold has "fulfilled its mission", but breaking through $6,000 is still a "huge challenge".

The Sino-US trade war has been going on for 100 days. Why hasn't oil prices skyrocketed? Will they continue to rise in the future?

The Hormuz Strait has been blocked for over three months, cutting off over 10 million barrels per day of Middle Eastern crude oil supply, leading to the most severe oil supply shock in modern history.

The bond giant buys bonds in preparation for the bursting of the AI bubble.

Credit bond behemoths DoubleLine Capital and Oaktree Capital are positioning themselves ahead of the possible burst of the AI bubble, buying bonds that can survive in a deep credit cycle.

Middle Finger Research Institute: Residential rents in Beijing, Shanghai, and Shenzhen have been rising for three consecutive months.

According to data from the China Research Institute, the overall demand for residential rentals in the country cooled down in May, with rent in 50 cities slightly falling month-on-month, but the decline was at its lowest level in nearly three years. Beijing, Shanghai, Shenzhen, Tianjin, and other cities continue to show the ability to restore rent levels. Since the start of the rental season in March 2026, residential rent in Beijing, Shanghai, and Shenzhen has been rising month-on-month for three consecutive months, with Shanghai leading the way among key cities nationwide. The month-on-month increases in April and May were both above 0.5%, ranking first among key cities. Residential rent in Tianjin has been steadily rising for four consecutive months. As the industry enters its traditional peak season in June, the upward trend in rent in core cities is expected to further consolidate.

Cui Dongshu: In May, the prices of 20 models of cars were reduced, with promotions for new energy vehicles dropping to 9.8% at a medium to high level.

Since 2025, the national passenger car industry has seen promotions and discounts return to rational levels, and market order has significantly improved.

Next week, SpaceX's IPO will debut, and the AI bull market will face a double test.

The highly anticipated SpaceX initial public offering (IPO) will debut next week.

The central bank increased its holdings of gold at an accelerated pace! It has been increasing its holdings for 19 consecutive months, and increased by 320,000 ounces in May compared to the previous month.

China's gold reserves at the end of May reported 74.96 million ounces (approximately 2,331.52 tons), an increase of 320,000 ounces (approximately 9.95 tons) month-on-month. The amount at the end of April was 74.64 million ounces (approximately 2,321.56 tons), marking the 19th consecutive month of increasing gold holdings.

State Administration of Foreign Exchange: As of the end of May 2026, China's foreign exchange reserves amounted to 344.22 billion US dollars.

According to statistics from the State Administration of Foreign Exchange, as of the end of May 2026, China's foreign exchange reserves totaled $344.22 billion, an increase of $31.7 billion from the end of April, representing a growth rate of 0.93%.

The United States plans to use frozen Iranian assets to compensate Gulf countries for their losses, which could become a new stimulus for ceasefire negotiations.

The US government is currently trying to use frozen Iranian assets to repair and rebuild the Gulf countries, in response to the damage caused by Iran's attacks and to prepare for future potential destruction.

Guosen: Will the growth style of technology reverse?

During a bull market, there is often a large divergence in industry performance, followed by a period of rebalancing. However, this does not necessarily result in a reversal of investment style.

Bitcoin broke through $61,000, rising 0.34% intraday.

Hormuz stranded ships densely packed

The Iran-Israel conflict has been going on for 100 days, and a reporter from the central station visited the Strait of Hormuz: the sea is calm and quiet, not even a large commercial ship crossing can be seen. In the anchorage, hundreds of ships are densely packed, mostly cargo ships. Local people introduced that many ships have been stranded for weeks, and the crew still live on the ships, receiving supplies from speedboats. Currently, although some ships have resumed passage, the shipping activity in the Strait of Hormuz has not yet returned to the level before the conflict. At the same time, there are still hundreds of merchant ships and about 20,000 crew members stranded in the Persian Gulf. It is still unknown when the Strait of Hormuz will be fully reopened for navigation.

Bull market or bubble? 1997 is unfolding.

Against the backdrop of a continuous surge in the stock market and historically high valuations, a minor expectation difference triggered concerns in the market about the "overheating AI bubble."

China Securities Co., Ltd.: The tight balance of supply and demand for copper continues, with liquidity and a weak US dollar supporting long-term premium copper prices.

High cost-effective conductive metal copper is deeply involved in global energy transformation and industrial development, and the supply-demand gap is tending to widen.

The "mouthpiece" of the Federal Reserve: from "three rate cuts" to "restarting rate hikes", Powell's first interest rate meeting faces unprecedented challenges.

The strong nonfarm payrolls report on Friday prompted traders to increase their bets on interest rate hikes within the year.

After a bright financial report, the stock price plummeted? Broadcom Inc. (AVGO.US) CEO: Never caring about stock price, sticking to technology customers will not run, bullish on the "Broadcom Inc.-Alphabet Inc. Class C-Anthropic" triangle.

Broadcom CEO first confirmed the progress of the custom AI chip in collaboration with OpenAI is smooth, without the need for Microsoft's approval, it will be put into mass production "later this year.

Guosheng: Is the technology stock really down or just pretending?

Guosheng Securities believes that after the adjustment of technology stocks, it should be an opportunity to lay out again, focusing on four major points: progress in US-Iranian relations and oil price trends, May US CPI data (June 10), major central bank interest rate meetings in mid-June, and the debut statement of the Washington vice chairman (June 18).

In May, OPEC's oil production fell to the lowest level in 37 years. It is expected that the meeting on Sunday will discuss the possibility of increasing production.

Three OPEC+ representatives said they expect major member countries to again slightly increase the July quota target in a video conference on Sunday, with an increase of 188,000 barrels per day.

Why has everyone set their sights on optical chips?

The booming development of artificial intelligence infrastructure in Silicon Valley has brought about a surprising physical problem: the amount of data transmitted through copper wires is limited, and beyond a certain limit, heat, distance, and power consumption become unbearable.

A total of $70 billion! SpaceX has successively signed a large contract for "computing power rental" with Anthropic and Alphabet Inc. Class C (GOOGL.US), with an ARR as high as $26 billion.

Elon Musk's SpaceX, has successively signed huge computing power leasing agreements with Anthropic and Google, totaling more than $70 billion. The annual revenue scale is expected to reach $26 billion, injecting strong fuel into its IPO narrative.

New stock news | Wus Printed Circuit (002463.SZ) submits again to the Hong Kong Stock Exchange, providing PCB solutions for the data communication field.

According to the disclosure by the Hong Kong Stock Exchange on June 5, Hushi Electronics Co., Ltd. has submitted an application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation and HSBC as joint sponsors. The company had previously submitted its listing application to the Hong Kong Stock Exchange on November 28, 2025.

New stock news | Wus Printed Circuit (002463.SZ) once again submits listing application to Hong Kong Stock Exchange

According to the Hong Kong Stock Exchange disclosure on June 5th, Hisun Electronics Limited has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with China International Capital Corporation and HSBC acting as joint sponsors. The company had previously submitted an application for listing on November 28, 2025.

Nine big tech stocks evaporated one trillion dollars in a day! An overview of Wall Street interpretation of Friday's sell-off.

According to statistics, on Friday, nine companies in the US stock market with a market value exceeding one trillion US dollars collectively evaporated 1.1 trillion US dollars in market value. The average stock price dropped by 5.3%, with artificial intelligence giants such as Nvidia, Micron Technology, and AMD experiencing particularly severe declines.

New stock analysis | After two rounds of submission, will the listing of SG Micro Corp on the Hong Kong stock market alleviate supply chain concerns?

As a leading enterprise in the domestic field of simulated chips, Sanbang Corporation, after being listed on the ChiNext board of the Shenzhen Stock Exchange in 2017, is now shifting its focus to the international capital stage.

New Stock News | Xi Hua Technology Once Again Submits Documents to Hong Kong Stock Exchange AI Scaler's Revenue has Ranked First in China for Four Consecutive Years Since 2022

According to the disclosure by the Hong Kong Stock Exchange on June 5, ShenZhen Xihua Technology Co., Ltd. has submitted an application to the Hong Kong Stock Exchange for listing on the main board, with Agricultural Bank International as the sole sponsor.

New stock previewAnnual income of 1 billion but trapped in growth bottleneck: The joy and worry of Fubei Pet's sprinting to the Hong Kong stock market.

Can FuBei Pets truly make the leap from being a "manufacturing giant" to a "strong brand enterprise" through this Hong Kong stock listing, it not only depends on the recognition of the capital market, but also on whether it can regain a steady growth pace in the fierce market competition.

New stock news | XiHua Technology files again with Hong Kong Stock Exchange

According to an announcement by the Hong Kong Stock Exchange on June 5th, Shenzhen A-Huat Technology Co., Ltd. (referred to as A-Huat Technology) has submitted an application to the Hong Kong Stock Exchange main board, with Agricultural Bank International as the sole sponsor.

New stock news | Basic Semiconductor submits to the Hong Kong Stock Exchange for the third time, ranking sixth in the Chinese Silicon Carbide Power Module market by 2024 revenue.

According to the disclosure by the Hong Kong Stock Exchange on June 5, Shenzhen Goodix Technology Co., Ltd. has submitted an initial public offering application to the main board of the Hong Kong Stock Exchange, with Guotai Junan Securities (Hong Kong) Limited and BOC International serving as joint sponsors.

The United States plans to file a lawsuit to block Paramount (PSKY.US) from acquiring Warner (WBD.US).

According to informed sources, California, New York, and several other U.S. states are preparing to file lawsuits to block Paramount's $11 billion acquisition of Warner Bros. Discovery.

Wu Qing: Enhance the ability to accompany the innovation "blank areas", better invest early, invest in small, invest long-term, invest in hard technology.

The China Securities Regulatory Commission issued a speech by Wu Qing at the fourth session of the China Securities Investment Fund Industry Association. Wu Qing pointed out that adhering to functionality is essential to better play the role of nurturing new quality productivity. Promoting the integrated development of technological innovation and industrial innovation requires continuous investment of long-term capital and patient capital. Industry institutions, especially private equity venture capital funds, should adhere to long-termism and professionalism, and better play a strategic and fundamental role in supporting innovation. It is necessary to improve the professional investment research system, focus on national strategies and key areas of the national economy, greatly enhance insight into industrial and technological development trends, strengthen the ability to run alongside in the innovation "no man's land," and better invest in early-stage, small-scale, long-term, and hard technology. It is important to strengthen post-investment empowerment, provide more effective governance optimization, resource integration, and long-term companionship and services for invested enterprises, help them cross cycles and enhance their value. Regulatory authorities and self-regulatory organizations should work together with relevant parties to further improve supporting policies, actively support state-owned funds in building fault-tolerance mechanisms, optimizing assessment standards, complementing social capital advantages, promoting pension funds, insurance funds, AIC institutions, and other entities to increase equity investment efforts, and multiple channels to improve fund exit arrangements, and make greater efforts to promote the smooth circulation of fund-raising, management, and withdrawal.

U.S. consumer borrowing grew significantly for the second consecutive month, marking the largest consecutive increase since 2022.

In April, American consumer borrowing saw strong growth once again, marking the largest consecutive increase since the end of 2022.

Musk signs another mega deal! Alphabet Inc. Class C (GOOGL.US) spends 30 billion dollars to buy SpaceX's computing power.

SpaceX announced a cloud service agreement with Google for access to computing capabilities, including approximately 110,000 Nvidia GPUs, CPUs, memory, and other related components.

Profit threshold not loosened! Super IPOs like SpaceX may take several years to be included in the S&P 500 index.

Standard & Poor's Dow Jones Indices announced on Thursday that its index committee has decided to maintain the current rule that companies must have positive net earnings in the past year (including the most recent quarter).

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