GMT EIGHT - Stocks - China Stock

Orient: The 2026 ASCO Assembly is approaching, Chinese innovative drugs are making a strong breakthrough.

Following the official release of the routine summary on May 21st and the official opening of the conference from May 29th to June 2nd, it is expected to accelerate the clinical progress and authorization for a batch of domestic blockbuster new drugs to go global.

China Securities Co., Ltd.: Tram exports in March continue to grow rapidly, with all models fully recovering.

The expected sales for the full year of 2026 are 18.27 million vehicles, an increase of 11.1% year-on-year.

Guosheng: The banking industry's revenue and profit have both improved compared to the previous year over the past 25 years. Two main themes are highly recommended.

Two main recommendations: first, high-quality regional city commercial banks with strong fundamental certainty and outstanding revenue growth elasticity. Second, state-owned large banks with stable operations and leading interest rate spreads.

A-share market review: Shanghai Composite Index fell by 0.19%, leading companies' performance impressive! Igniting the pharmaceutical industry race.

As of the close, the Shanghai Composite Index fell by 0.19% to 4078.64 points, with a turnover of 1.114 trillion yuan; the Shenzhen Component Index fell by 1.10% to 14830.46 points, with a turnover of 1.4224 trillion yuan.

Guotai Haitong: Large-scale model implementation in the banking industry, financial technology investments embrace new opportunities.

Financial information services and other financial technology related targets have maintained high growth in performance, while their valuations are relatively low. The bank is optimistic about the opportunities in the future of financial technology.

China Securities Co., Ltd.: Carbon Neutrality Assessment Measures Introduced, Catalyzing Further Supply-Side Reforms in the Chemical Industry.

After the impact of the oil price, we are now looking for chemical core assets that have strengthened relative competitive advantages and smooth transmission.

Orient: Ultra-high-voltage secondary bidding drives demand for GIS, firmly optimistic about the high prosperity cycle of power equipment going overseas

Domestic and overseas power equipment companies saw high order volume in the first quarter, optimistic about the supercycle of power equipment going abroad, and the domestic and overseas power equipment sector is expected to resonate.

Western: Financial product network marketing has entered a new era of compliance, with licensed banks expected to continue to gain advantages.

Industry competition winners and losers may shift from traffic monetization capabilities to institutional comprehensive marketing capabilities, with the advantages of top licensed banks expected to continue to grow.

A-share midday report | The three major indices are slightly lower, with the concept of CRO strength, Contemporary Amperex Technology AH shares collectively falling.

In the morning, the A-share market experienced a slight decline in the three major indexes due to volatile adjustments.

Orient: May Day travel is expected to be stable with growth, self-driving tours and lower-tier cities have bright spots.

Holiday catalyzes clarity, travel chain performance has strong certainty, suggesting focusing on leading companies in specific sectors for layout.

CPC Securities: Release of Carbon Reduction Opinions, Focus on Cement and Glass Supply Clearing Opportunities

On April 22, the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the "Opinions on Doing Energy Conservation and Carbon Reduction Work at a Higher Level and Quality". It proposed to strengthen energy conservation and carbon reduction in the industrial sector.

China Securities Co., Ltd: Canceled US-Iran negotiations trigger rise in oil prices, impact on natural gas supply chain may continue.

The damage to facilities in Qatar has delayed the global expansion of gas supply, leading to an increase in mid-term supply gap and a tightening supply-demand balance that may continue until 2027.

Chongqing Afari Technology (601777.SH) started off strong in 2026 with a dual increase in revenue and profits. The "AI+ vehicle" strategy is accelerating value reshaping.

On April 27, 2026, Qianli Technology (601777.SH) released its first quarter financial report for 2026.

Central China: Intensive updates to AI models improve capabilities and bring new application opportunities.

Industry data shows that the domestic game market continues to maintain a relatively high level of prosperity, with an overall growth rate of 13.38% in the first quarter of 2026. Client games grew by 39.38%, international game exports increased by 31.76%, and mobile games grew by 6.28%.

Huachuang Securities: The strong start of life insurance sets the tone for the whole year, and the value of new business is still expected to grow at a double-digit rate.

In terms of property insurance, as the penetration rate of new energy vehicles increases to the middle and later stages, the growth rate of vehicle insurance slows down; in terms of non-vehicle insurance, some types of insurance are under pressure in the short term due to the integration of underwriting and claims, but in the long term, the industry's non-vehicle insurance profitability level is expected to improve.

CMSC: Continuous gap between supply and demand in optical chips, opening up growth opportunities for domestic manufacturers.

Based on comprehensive analysis of supply and demand, it is projected that the global imbalance of supply and demand for high-speed optical chips will continue until 2027.

Sinolink: confidence in the catering industry gradually recovering, waiting patiently for subsequent quarterly validation.

The supply chain disruption and inventory backlog brought about by the 25-year tariff crisis have gradually been absorbed, and export chain companies are now equipped with the necessary conditions for performance elasticity release.

Caitong: Domestic TV brands have a strong position in the domestic market and are expected to expand their market share overseas.

Domestic MiniLED continues to upgrade and sink to the mid-range market, leading in key indicators such as brightness, refresh rate, and partitioning, giving it a competitive edge in product performance.

Orient: The resilience of the liability side of the insurance industry remains strong, waiting patiently for the repair of asset-liability resonance.

Suggested focus: First, top insurance companies with better performance in "opening red envelopes", leading transformation of dividend insurance, and stable channel operation; Second, companies with greater equity elasticity on the asset side, higher percentage of OCI, and better duration matching, have stronger valuation repair and performance elasticity.

Sinolink: Attention on the chemical sector increases, as the improvement in price differentials becomes the main investment trend.

In terms of industrial trends, it is recommended to continue to focus on the material opportunities brought by the acceleration of AI applications.

A-share opening express | Pre-holiday risk aversion sentiment rising? A-shares enter "bottoming" time. Contemporary Amperex Technology A-shares fall together.

On April 28, the three major A-share indexes collectively opened lower, with the ChiNext Index and the Shenzhen Component Index both falling by more than 1%. As of 9:40, the Shanghai Composite Index fell by 0.15%, the Shenzhen Component Index fell by 1.05%, and the ChiNext Index fell by 1.65%.

Orient: Solving the memory bottleneck from the bottom up, gradually advancing the industry.

The traditional von Neumann architecture, proposed by John von Neumann in 1945, is characterized by the separation of computing units and storage units, with data being frequently moved between the processor and memory.

China Securities Co., Ltd.: The Middle East is expected to become an important growth pole for the globalization of Chinese logistics enterprises. Key focus on J&T EXPRESS-W (01519) and JD LOGISTICS (02618).

The Gulf countries' policy support, consumption upgrading, and logistics standardization development will further open up the industry's growth space, and the Middle East is expected to become an important growth pole for the globalization of Chinese logistics companies.

Sinolink: Innovation is King in the Era of Group Procurement, Focus on Investment Opportunities in Domestic New Drugs.

In the context of normalized centralized procurement, pharmaceutical products with strong innovative features and competitive landscape are expected to contribute greater value to companies. It is recommended to continue monitoring investment opportunities related to domestic new drugs.

Sinolink: Large-scale AI cluster drives accelerated development of CPO, optimistic about industry chain companies.

The industry believes that CPO can effectively help large-scale clusters reduce power consumption, increase interconnection density, and enhance transmission stability at high speeds.

GMTEight List of A-share restricted sales and lifting restrictions | April 28th

"Bonjour, comment vas-tu aujourd'hui?" "Hello, how are you today?"

CITIC SEC: Southeast Asia is becoming an important regional market for the global expansion of Chinese brands. Continuously recommending leading companies to go abroad.

Going overseas is a must-do for Chinese companies today, and the Southeast Asian market is often seen as the first stop for going abroad.

Contemporary Amperex Technology (300750.SZ) is issuing new H shares for general authorization at a price of 628.2 Hong Kong dollars per share.

Contemporary Amperex Technology Co., Ltd. (300750.SZ) announced that the board of directors has approved the "Proposal on the Company Exercising General Authorization to Issue Shares on the Main Board of The Stock Exchange of Hong Kong Limited", agreeing for the company to issue new H shares on the Main Board of The Stock Exchange of Hong Kong Limited based on the general authorization.

Highlights of the securities morning meeting: AI computing power demand will increase significantly, semiconductor industry profit is expected to increase.

CICC believes that the demand for AI computing power continues to increase, and the semiconductor industry is expected to continue its high-growth trend in profitability.

A-share pre-market report | Lithium mining performance spikes! Four industry leaders increased by more than 10 times, and commercial aerospace received another heavy catalyst.

On April 27, several A-share companies in the lithium battery industry announced that their first-quarter net profits increased by more than 10 times compared to the same period last year.

GEM Co., Ltd. (002340.SZ) submits updated application for listing on the Hong Kong Stock Exchange.

Greentech (002340.SZ) announced that the company is in the process of applying for the issuance of shares for overseas listing (H shares) and listing on the Main Board of The Stock Exchange of Hong Kong Limited. The company submitted the application for this issuance and listing on September 22, 2025, and the application materials were published on the Stock Exchange's website on the same day. According to the time schedule for this issuance and listing, and the relevant requirements of the Stock Exchange, the company updated the application for this issuance and listing on April 27, 2026, and the updated application materials were published on the Stock Exchange's website on the same day.

Zhongjin: Continues to focus on the improvement of economic cycle as the main trend of CKH HOLDINGS.

CICC believes that in 2026, growth still has advantages, but its relative performance compared to other sectors may converge. After experiencing a three-year cycle of capacity reduction, coupled with policies such as "anti-internal competition" being implemented, more and more cyclical industries are expected to benefit from supply and demand rebalancing.

Guotai Haitong: Deepseek V4 leads domestic models to shine with large-scale model competition extensively upgraded, maintains "hold" rating on computer sector.

Deepseek V4 is released, with performance on par with overseas giants, deep adaptation to domestic computing power, and a significant price drop. Chinese open source large models are officially challenging American closed-source giants in a comprehensive manner.

Evening Focus on A-shares | Lithium battery industry chain performance explodes! Net profit of 4 companies in the first quarter increased more than 10 times.

Multiple A-share listed companies in the lithium battery industry have announced that their net profits in the first quarter have increased by over 10 times compared to the same period last year.

Selected A-Share Announcements | Tianqi Lithjson Corporation (002466.SZ) Q1 Net Profit Increases by Nearly 1700%

Tianqi Lithium announced that in the first quarter of 2026, its revenue was 5.128 billion yuan, an increase of 98.44% year-on-year; net profit was 1.876 billion yuan, an increase of 1,699.12% year-on-year.

"AI + Mobile" drives business improvement. Wondershare Technology Group (300624.SZ) forecasts a revenue of 1.53 billion yuan in 2025, with a 44.2% decrease in net profit attributable to the parent company.

On the evening of April 27, AIGC software A-share listed company Wanxing Technology (300624.SZ) released its annual report for 2025.

DOBOT Technology's GEM IPO has been accepted, and in 2025, collaboration with Siasun Robot&Automation ranks first in global sales volume.

The IPO of Shenzhen Yuexiang Technology Co., Ltd. has been accepted on the Growth Enterprise Market.

Starting with a bang! WuXi AppTec first quarter revenue reaches 12.4 billion, breaking through the profit margin ceiling.

WuXi AppTec reported revenue of 12.4 billion in the first quarter of 2026.

GF Securities: Electronic textiles are in a state of continued high prosperity, and the industrialization of glass substrates is speeding up.

Currently, leading companies have low inventory levels, and prices may continue to rise in the future.

China Securities Co., Ltd: Firmly optimistic about the engine industry chain, the domestic and international sales of construction machinery remain strong.

This line indicates that the high prosperity of lithium batteries continues, and the performance of equipment end is expected to continue to be realized.

CICC International: Anchoring the Target of a 7 Trillion Industry, Exploring the Commercial Potential of Sports Economy

In the domestic provincial super league, a new model has been opened up. In addition to sports industry chain enterprises, it is expected to also spread to urban cultural, tourism and other related companies, and cultural, sports, and tourism targets are expected to benefit.

Zhongjin: Profits in the steel industry are at the bottom, and the sector's valuation and profits are gradually recovering, providing some support.

The bank believes that the easing of cost pressures and the implementation of anti-grind policies are expected to support the gradual recovery of sector valuations and profits.

Founder: The sales volume of live pigs has significantly increased, while the average sale price has decreased.

The bank believes that the current layout stage of the pig farming sector has entered the bottom of the cycle.

A-share closing review | The Shanghai Composite Index closed up 0.16%, with three major positive factors triggering a surge in the semiconductor sector.

As of the closing, the Shanghai Composite Index rose by 0.16% to 4086.34 points, with a turnover of 1.1361 trillion yuan; the Shenzhen Component Index rose by 0.37% to 14995.75 points, with a turnover of 1.4534 trillion yuan.

China Galaxy Securities: The growth rate of total electricity consumption in the whole society is slowing down, while the year-on-year increase in newly installed capacity is declining.

The short-term fundamentals of new energy are still weak, and we are paying attention to the catalytic effect of new industries such as artificial intelligence-electricity synergy on the market.

Guotai Haitong: Research on life insurance reservation interest rates sees rebound, expected to stabilize within the year.

The bank still favors the valuation repair opportunities of high-quality insurance stocks under the expectation of stable interest rate.

CASC Securities: Heavy cooperation in AI medical sector frequently appears to deepening the application scenarios.

AI is upgrading from the role of "technical assistance" to the core driving force of "value reshaping" and "efficiency revolution" in the healthcare industry. Its commercial value is permeating comprehensively from the research and development end to the clinical end, payment end, and patient end.

BoC International: Three major technologies advancing together, optimistic about the potential growth space of the brain-machine interface industry.

Since 2026, funding for brain-computer interface companies has remained active, with companies like BrainStrong Technology and Stepwise Healthcare receiving large amounts of financing. Capital inflows are driving the industrialization of brain-computer interfaces to accelerate.

A-share midday review | What happened? A-share differentiation, ChiNext 50 soars more than 3%! Funds aggressively attack technology and growth.

In the early trading, the market is fluctuating within a narrow range, with the three major indexes showing mixed movements, while the ChiNext Index is up more than 3%.

Guotai Haitong: Tesla's third generation Siasun Robot & Automation to start production in the middle of the year, Glory Siasun Robot & Automation wins half marathon.

As an important competition platform in the global field of humanoid robots, this year's sports meeting not only continues the competitiveness and entertainment, but also highlights the orientation of autonomous competition, nimble operation, and real-world applications, focusing on the comprehensive evaluation of robots' autonomous ability, fine operation ability, and scenario application ability.

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