GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | Optical communication concept stocks rise broadly; Marvell Technology, Inc. (MRVL.US) gains over 7%.

On Monday, optical communication concept stocks rose broadly, with Marvell Technology, Inc. (MRVL.US) gaining over 7%.

US Stock Market Move | To partner with Samsung to produce HBM base chips Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) rises over 3%

On Monday, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) rose over 3% to $425.84.

Five major catalysts could drive the stock price up 40%! Morgan Stanley names Amazon.com, Inc. (AMZN.US) a top pick, raises price target to $350.

In its latest research report, Morgan Stanley named Amazon.com, Inc. a top pick, raised its price target from $335 to $350, and maintained an "Overweight" rating.

A-share Evening Highlights | "One Central Bank and Two Commissions and One Regulatory Body" Make Major Statements on Capital Markets, Monetary Policy, and More

The 2026 Financial Street Forum Annual Conference opened this afternoon. Pan Gongsheng, Ding Xiangqun, Wu Qing, and Zhu Hexin attended the 2026 Financial Street Forum Annual Conference and delivered keynote speeches.

US Stock Market Move | Merger rumors with SpaceX heat up, Tesla, Inc. (TSLA.US) rises over 3%.

On Monday, Tesla (TSLA.US) rose over 3% to $366.23.

Strong AI demand drives upward revision of growth expectations! Bernstein upgrades Datadog (DDOG.US) to "Outperform" with price target raised to $350.

Bernstein upgrades cloud monitoring and security software company Datadog (DDOG.US) to "Outperform" and sharply raises its price target from $237 to $350.

AI agent adoption may be constrained by compute bottlenecks; Morgan Stanley remains bullish on Meta's (META.US) long-term commercialization prospects, raises target price to $820 and maintains "Overweight" rating.

Although massive infrastructure demands mean AI agent adoption may be slower than market expectations, Morgan Stanley remains bullish on Meta's long-term commercialization potential, raising its target price from $775 to $820 and maintaining an "Overweight" rating.

US Stock Market Move | Moderna (MRNA.US) rises 5%, with its stock price approaching an all-time high.

On Monday, Moderna (MRNA.US) rose more than 8% in early trading, and as of press time, its gain narrowed to 5%, at $229.69.

Philadelphia Semiconductor Index Finally Rebounds After Eight Consecutive Declines! "AI Computing Power Surge" Drives Semiconductor Capacity Expansion, Morgan Stanley Outlines a $280 Billion Equipment Spending Blueprint

After enduring a sustained multi-day decline, the semiconductor sector staged a broad rebound, with the Philadelphia Semiconductor Indexwhich tracks global chip giants such as Nvidia, AMD, Intel, and Micronsurging about 3% in early U.S. trading.

US Stock Market Move | Memory chip concept stocks rise broadly; SanDisk (SNDK.US) gains over 5%.

On Monday, memory chip concept stocks rose broadly, with SanDisk (SNDK.US) and Western Digital (WDC.US) gaining more than 5%.

Morgan Stanley: SpaceX (SPCX.US) Q3 earnings are just an "appetizer"; Starship's 15th flight and the "physical intelligence economy" are the real catalysts for the stock price.

Ahead of SpaceX's third-quarter earnings release, scheduled for after the U.S. market close on Tuesday Eastern Time, Morgan Stanley published a research report maintaining its "Overweight" rating and $300 price target on SpaceX.

AI investment boom combined with insufficient savings! Yardeni says neutral rate has risen to 4.25%-4.50%, and the Fed may need to raise rates by another 50 basis points.

Yardeni Research believes that AI construction, high energy prices, and deglobalization are pushing up commodity prices, while scarce savings and strong investment are driving up the neutral rate, and the Fed may need to raise rates by another 50 basis points to return to neutral.

After the stock and bond selloff, Goldman Sachs Group, Inc. and JP Morgan came out in support of CoreWeave (CRWV.US): Strong returns on AI infrastructure projects, and the new cloud leader has been unfairly beaten down by the market.

The bull-bear debate thus centers on whether projects with long-term returns can secure sufficient funding to bridge the gap between construction and cash collection. New contract pricing, cash returns per megawatt, and actual financing terms therefore matter more than headline order totals in determining the scope for a re-rating.

Musk's Starlink is at the doorstep, and Europe's four major telecom giants are teaming up to fight back by bidding for satellite spectrum.

Several major European mobile operators have reached a consensus to form an industry consortium to bid for satellite spectrum and launch direct-to-cell satellite services, in a bid to counter the competitive pressure from Elon Musk's Starlink.

RIBOLIFE-B (06938) intends to acquire the remaining 49.71% equity interest in Ribocure Pharmaceuticals AB.

RIBOLIFE-B (06938) announced that on October 16, 2026, the Company entered into share exchange agreements with the minority shareholders, pursuant to which, subject to and in accordance with the terms and conditions of the share exchange agreements, the Company has conditionally agreed to acquire, and the minority shareholders have severally and conditionally agreed to sell, the target shares (representing in aggregate 49.71% of the total issued shares of the target company), such that the Company will hold the entire equity interest in the target company. As at the date of this announcement, the Company holds approximately 50.29% of the total issued shares of the target company. Upon completion, the target company will become a wholly-owned subsidiary of the Company.

HENLIUS (02696) H-Drug ESMO 2026 Preview: U.S. Bridging Study to Be Presented Orally, Adding New Evidence for the World's First Anti-PD-1 Monoclonal Antibody in First-Line Lung Cancer Treatment

On October 19, 2026 local time, the European Society for Medical Oncology (ESMO) Annual Congress released research abstracts. A total of 10 studies on HENLIUS' (02696) core product, the innovative anti-PD-1 monoclonal antibody H-drug Hansizhuang (serplulimab, European trade name Hetronifly), were selected for this year's congress.

Tesla, Inc. (TSLA.US) Shareholder Meeting Preview: Musk's Compensation and Director Re-election in Focus, Merger Rumors with SpaceX Heat Up

Tesla submitted its 2026 annual shareholder meeting proxy statement to the U.S. Securities and Exchange Commission (SEC) on Monday.

LEADS BIOLABS-B(09887): Six study abstracts to be presented at ESMO 2026

LEADS BIOLABS-B (09887) announced that the full abstracts of six studies (covering clinical research, translational research, and meta-analysis) on its independently developed Vilixin (opamtisumimab, an anti-PD-L1/41BB bispecific antibody) and LBL-034 (a GPRC5D/CD3 bispecific T-cell engager, TCE) have been published on the official website of the 2026 European Society for Medical Oncology Annual Meeting (ESMO 2026).

A-Share Announcement Highlights | CXMT Corporation (688825.SH) Expects Net Profit Attributable to Shareholders of RMB 131 Billion to RMB 132.5 Billion for the First Three Quarters, Turning Profitable Year-on-Year

CXMT Corporation (688825.SH) announced that it expects revenue of approximately RMB 265 billion to RMB 270 billion for the first three quarters, compared with RMB 32.084 billion in the same period last year.

Roadster takes flight: Can Tesla, Inc. (TSLA.US) spark another rally? Robotaxi and Optimus commercialization become the focus of earnings reports.

The Roadster is responsible for showcasing Tesla's formidable engineering capabilities, while Optimus (the "Optimus Prime" humanoid robot) and Cybercab (the Robotaxi fully autonomous taxi) carry Tesla's core vision for breaking through the automotive industry's valuation framework.

GCL TECH (03800) may acquire approximately 81.91% equity interest in Sichuan GCL Lithium Technology

GCL TECH (03800) announced that on October 19, 2026, the Company and the seller (GCL Group Limited) entered into a non-legally binding memorandum of understanding regarding the intention to potentially acquire approximately 81.91% equity interest in Sichuan GCL Lithium Technology Co., Ltd.

Can Democrats retake Congress? Four scenarios for the U.S. midterm elections and a forward look at the economic impact

The U.S. midterm elections will be voted on November 3, with Democrats expected to retake the House of Representatives while the Senate remains too close to call; regardless of the outcome, a battle over the debt ceiling and government funding in 2027 is likely unavoidable.

State Post Bureau: From January to September, the postal industry's cumulative business revenue reached 1,389.31 billion yuan, a year-on-year increase of 5.8%.

The State Post Bureau announced the operational status of the postal industry from January to September 2026.

The State Taxation Administration has issued a reminder notice regarding tax filing for offshore trusts.

The reporter learned from the State Taxation Administration on October 19 that the administration's website issued a notice that day reminding relevant taxpayers to promptly review their offshore trust arrangements, declare and pay taxes in accordance with the law during the transition period, and avoid late payment surcharges and other related risks. According to the Announcement on Matters Concerning Individual Income Tax on Offshore Trusts issued by the Ministry of Finance and the State Taxation Administration on July 24, taxpayers with offshore trusts are required to declare and pay individual income tax on offshore trust income. The announcement granted taxpayers a 90-day transition period, during which those who complete declaration and tax payment will not be charged late payment surcharges. The notice clarified that tax authorities will provide taxpayers with detailed tax guidance and tax services to help taxpayers fulfill their tax obligations in accordance with the law and safeguard their own rights and interests.

ZIJIN GOLD INTL(02259) Profit attributable to owners of the parent for the first three quarters was US$2.015 billion, up 123% year on year.

ZIJIN GOLD INTL (02259) announced that for January-September 2026, revenue was US$5.809 billion, up 70% year on year; profit attributable to owners of the parent was US$2.015 billion, up 123% year on year.

Preview of US Stock Market | The three major stock index futures are mixed. Tech giants' earnings reports are set to make a major impact this week. NVIDIA's GTC Berlin conference is about to kick off.

October 19 (Monday) pre-market: U.S. stock index futures are mixed.

New Stock News | Yuaxin Energy Storage Passes HKEX Hearing, Ranks Tenth in China's Energy Storage System Solutions Industry

According to a disclosure by the Hong Kong Stock Exchange on October 19, Shenzhen Yuaxin Energy Storage Technology Co., Ltd. has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with CMBI as its sole sponsor.

Ministry of Finance: Nationwide lottery sales in September totaled 67.389 billion yuan, up 27.3% year on year.

In September, nationwide lottery sales totaled 67.389 billion yuan, an increase of 14.457 billion yuan year on year, up 27.3%.

S.F. Holding (06936) reported combined revenue of RMB 28.719 billion in September from its express logistics business, supply chain and international business, up 6.34% year on year.

S.F. Holding (06936) announced that in September 2026, the combined revenue from its express logistics business, supply chain and international business amounted to RMB 28.719 billion, up 6.34% year on year. Among this:

SHENZHEN INVEST (00604) third-quarter contracted sales of approximately RMB 1.814 billion

Shenzhen Investment (00604) announced its major business progress for the third quarter of 2026.

Report: HKMA Reorganizes Senior Management Functions: Chen Weimin to Oversee Reserve Management, Li Dazhi to Take Over Monetary Management Duties

According to people familiar with the matter, the Hong Kong Monetary Authority has once again adjusted senior management positions, a move aimed at preparing for a new generation of leadership in the coming years.

BAY AREA DEV(00737): The Guangzhou-Shenzhen-Zhuhai Company has entered into subsequent civil engineering construction contracts for the Shenzhen section reconstruction and expansion project of the Beijing-Hong Kong-Macao Expressway with the respective winning bidders.

Bay Area Development (00737) announced that, following certain public tender and bidding procedures conducted through the Guangzhou Public Resources Trading Center, on October 19, 2026, the Guangzhou-Shenzhen-Zhuhai Company (regarded as a subsidiary of the Company) entered into the following Shenzhen section construction contracts (TJ1, TJ3-TJ7 sections) with the respective winning bidders:

New Stock News | Chuangzhi Xinlian Passes HKEX Hearing, a Coating Materials Manufacturer and Coating Service Provider

According to the disclosure by the Hong Kong Stock Exchange on October 19, Shenzhen Chuangzhi Xinlian Technology Co., Ltd. has passed the listing hearing for the Main Board of the Hong Kong Stock Exchange, with Haitong International and CCB International as joint sponsors.

CSRC: Explicitly supports and encourages the implementation of advance compensation

On October 19, the China Securities Regulatory Commission (CSRC) publicly solicited opinions on the "Guiding Opinions on Advance Compensation in the Securities Market," with the deadline for feedback set at November 18, 2026.

MABWELL-B(02493): Will present 9MW2821 clinical data as an oral presentation at the 2026 European Society for Medical Oncology (ESMO) Congress

MABWELL-B(02493) announced that the company will present, in an oral presentation at the 2026 European Society for Medical Oncology (ESMO) Congress to be held in Madrid, Spain, from October 23 to October 27, 2026, Phase II clinical study data of its innovative Nectin-4-targeting ADC for patients with locally advanced or metastatic triple-negative breast cancer (TNBC) who have previously received treatment with an ADC carrying a topoisomerase I inhibitor payload:

After the sharp declines in the Philadelphia Semiconductor Index and the Nasdaq, Morgan Stanley says "get ready to add positions"

Morgan Stanley's Michael Wilson said investors should be prepared to increase portfolio risk exposure as the significant multi-month correction trajectory across most of the stock market nears its end.

Is the Roadster Just an Appetizer? Well-Known Investor Predicts SpaceX (SPCX.US) Acquisition of Tesla, Inc. (TSLA.US) May Be Officially Announced Within Weeks at $420 per Share

Gary Black, Managing Director of Future Fund, recently tweeted a prediction that SpaceX may announce an all-stock acquisition of Tesla within weeks, and views the launch of the flying Roadster as an opportunity to integrate Elon Musk's companies together.

The China Securities Regulatory Commission issues the "Implementation Rules for Administrative Penalties in Cases of Illegal Transfer of Securities"

On October 19, the China Securities Regulatory Commission issued the "Implementation Rules for Administrative Penalties in Cases of Illegal Transfer of Securities," effective December 1, 2026.

NATURAL FOOD IH (01837) plans to repurchase company shares.

Natural Food IH (01837) announces that the board of directors has resolved and approved the implementation of a plan to repurchase the company's ordinary shares on the open market. The repurchase is conducted pursuant to the general mandate approved and granted to the directors by the company's shareholders at the annual general meeting held on May 22, 2026, under which the directors may repurchase up to 10% of the ordinary shares (excluding treasury shares) in issue on the date the resolution was passed.

METIS TECHBIO-P(07666): Enters into Strategic Collaboration with Lilly to Advance Next-Generation Tissue-Specific LNP Delivery Technology

METIS TECHBIO-P (07666) announced that the Company has entered into a strategic collaboration with Eli Lilly and Company (Lilly) focused on the research and discovery of novel lipid nanoparticle (LNP) delivery solutions aimed at achieving tissue-specific delivery of therapeutic modalities. Under the terms of the agreement, METIS TECHBIO will receive an upfront payment of over ten million US dollars and will be eligible to receive development, regulatory, and commercial milestone payments totaling up to approximately US$1.1 billion. In addition, METIS TECHBIO will be eligible to receive tiered royalty payments at a single-digit percentage based on the annual net sales of products resulting from the collaboration.

Bloom Energy (BE.US) rebounded over 5% in pre-market trading at one point! Retail investors remain bullish, and Wall Street is optimistic about doubling growth in Q3 results.

Ahead of the release of its latest quarterly earnings, Bloom Energy's stock rose more than 5% at one point in pre-market trading on Monday. The market expects its quarterly results to highlight its rapid growth in the AI infrastructure power supply sector, while retail investors are betting that the earnings report to be released on Thursday could revive the stock's momentum.

HANSOH PHARMA(03692): Enters into a Strategic Collaboration and License Agreement with Roche

Hansoh Pharma (03692) announced that on October 17, 2026, its wholly-owned subsidiaries Shanghai Hansoh Biomedical Co., Ltd., Changzhou Hengbang Pharmaceutical Co., Ltd., and Hansoh Bio, LLC (collectively "Hansoh") entered into a strategic collaboration and license agreement with F. Hoffmann-La Roche Ltd (Roche).

SF Holding: Total revenue from express delivery and logistics business in September was 28.719 billion yuan, up 6.34% year on year.

SF Holding announced that in September 2026, the company's express logistics business and supply chain and international business together generated revenue of RMB 28.719 billion, up 6.34% year on year. Of this, express logistics business revenue was RMB 20.835 billion, down 0.09% year on year, with volume of 1.395 billion parcels, down 7.25% year on year, and revenue per parcel of RMB 14.94, up 7.71% year on year; supply chain and international business revenue was RMB 7.884 billion, up 28.13% year on year.

Tencent Cloud will raise the prices for .com domain registration, renewal, and transfer.

On October 19, Tencent Cloud issued a notice: it has received a notification from the .com domain registry Verisign that the wholesale price of .com domain names will increase globally starting November 1, 2026. Due to the upstream cost change, Tencent Cloud will adjust the sales price of .com domain names accordingly. The registration, renewal, and transfer prices for the .com suffix will increase, while the redemption price will remain unchanged; prices for other domain suffixes will also be unaffected.

TCL ELECTRONICS (01070) expects adjusted net profit attributable to parent for the first three quarters to increase by approximately 45% to 55% year-on-year.

TCL ELECTRONICS (01070) announced that the Group is expected to record revenue of approximately HK$91.0 billion to HK$97.7 billion for the first three quarters of 2026, representing a year-on-year increase of approximately 10% to 18%; and adjusted net profit attributable to parent for the first three quarters of 2026 of approximately HK$2.11 billion to HK$2.25 billion, representing a year-on-year increase of approximately 45% to 55%.

PBOC and other departments: Leverage the cross-border synergy advantages of the Guangdong-Hong Kong-Macao Greater Bay Area

The People's Bank of China and other departments have issued the "Guiding Opinions on Financial Support for Building Beijing, Shanghai, and the Guangdong-Hong Kong-Macao Greater Bay Area into International Science and Technology Innovation Centers." Among other points, it states: Build an open science and technology finance system. Give play to the leading role of the "Shenzhen-Hong Kong-Guangzhou" science and technology innovation cluster, strengthen high-level financial interaction and regulatory alignment among Guangdong, Hong Kong, and Macao, and promote the integration of industrial innovation and scientific and technological resources to unleash greater effectiveness. Focusing on enhancing the innovation capacity of the Greater Bay Area Comprehensive National Science Center, support key areas such as Shenzhen Guangming Science City, Dongguan Songshan Lake Science City, and Guangzhou Nansha Science City in carrying out cross-regional collaborative innovation among industry, academia, and research. Support major cooperation platforms such as Qianhai, Hetao, Nansha, and Hengqin in piloting first, actively promote greater use by institutions in the two places of the mainland's fintech innovation regulatory tools and their connection with Hong Kong's fintech regulatory sandbox, deepen Guangdong-Hong Kong-Macao cross-border credit cooperation, and explore mechanisms such as cross-border flow of data elements and cross-border transformation of intellectual property. Implement the Closer Economic Partnership Arrangement between the mainland and Hong Kong and Macao, support licensed institutions in Hong Kong and Macao in cooperating with mainland financial institutions, and explore improving science and technology financial services on cooperation platforms in accordance with laws and regulations. Support enterprises in making good use of the "two markets" and "two types of resources" at home and abroad to list on the capital market, and promote Greater Bay Area companies listed in Hong Kong to list in Shenzhen in accordance with regulations.

CR HOLDINGS (01911) subsidiary successfully assisted Xinai Technology, a leading domestic supplier of high-end IC packaging substrates in the AI field, in completing its Series A2 financing round.

CR Holdings (01911) announced that its controlled subsidiary, CR Securities Co., Ltd. (CR Securities), acting as sole financial advisor, successfully assisted Xinai Technology (Nanjing) Co., Ltd. (Xinai Technology), a leading domestic supplier of high-end IC packaging substrates in the AI field, in completing its Series A2 financing round.

SHANDONG XINHUA (00719): Nimodipine Tablets Pass Generic Drug Consistency Evaluation

SHANDONG XINHUA (00719) announced that recently, the Company received the "Drug Supplementary Application Approval Notice" for Nimodipine Tablets approved and issued by the National Medical Products Administration, and the product has passed the generic drug quality and efficacy consistency evaluation.

IDREAMSKY (01119) Reaches RMB 200 Million Strategic Investment Cooperation with Zhanxintou, Launches YouTuobang, Jointly Supporting the Development of Nanshan's Gaming Industry

According to disclosures from both parties, this cooperation will focus on two main directions: ecosystem cultivation and industrial collaboration.

Street flames spread to the bond market, pushing France's fiscal predicament to the brink of the cliff.

France's weekend violent riots dealt a heavy blow to the bond market, with the France-Germany spread approaching the 150-basis-point red line for a debt crisis and the euro falling to the bottom among G10 currencies; Friday's Moody's rating review and downgrade risk have intensified market concerns.

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