A-share evening hot spots | PBOC's heavyweight report! Continue to implement a moderately loose monetary policy well.

1. Central Bank: Continue to implement moderate easing monetary policy Importance: The Central Bank issued the China Monetary Policy Implementation Report for the fourth quarter of 2025. The report pointed out the importance of continuing to implement a moderately loose monetary policy. Promoting stable economic growth and reasonable price increases are important considerations for monetary policy. Based on the domestic and international economic and financial situation and the operation of the financial market, the policy implementation should grasp the intensity, pace, and timing. Flexibly and efficiently use various policy tools such as reserve ratio cuts and interest rate cuts, maintain ample liquidity and relatively loose social financing conditions, guide the rational growth of financial aggregate and balanced credit allocation, and ensure that the growth of social financing scale and money supply matches the economic growth and expected target of the overall price level. 2. Five departments issued a major announcement, favoring the low-altitude economy! Revealing potential stocks with outstanding performance and undervaluation Importance: The Ministry of Industry and Information Technology and five other departments (secretariat, comprehensive bureau, comprehensive department) issued the "Implementation Opinions on Strengthening the Information Communication Industry Capacity Building to Support Low-Altitude Infrastructure Development." It mentioned continuously enhancing the technical basic capabilities, industrial supply capabilities, network support capabilities, and security support capabilities of the information and communication industry, promoting the orderly construction of low-altitude scenario communication networks, expanding and enriching perception technology tools, assisting in improving navigation accuracy, and supporting the construction of a low-altitude intelligent network system to provide a solid foundation for the development of the low-altitude economy. Southwest believes that the national "14th Five-Year Plan" proposed accelerating the development of the aviation and aerospace industries and the low-altitude economy. The country's strategy focuses on the new track of the low-altitude economy, with various regions successively issuing policy outlines for the development of the low-altitude economy, and state-owned enterprises have set up low-altitude economic companies. From the application scenarios perspective, low-altitude logistics and low-altitude tourism are the leading application scenarios. Orders from leading eVTOL manufacturers are gradually being finalized, with rapid overseas expansion and clear development trends in the low-altitude economic industry chain. Additionally, according to iFinD data, self-selected stocks have compiled a list of low-altitude economic concept stocks with doubled annual performance expectations, which is for reference only. 3. Semiconductor Manufacturing International Corporation: Net profit in the fourth quarter was 1.223 billion, a year-on-year growth of 23.2% Importance: On February 10th, Semiconductor Manufacturing International Corporation released its performance report, indicating that during the reporting period, the company achieved operating income of 17.813 billion, a year-on-year growth of 11.9%; net profit attributable to the shareholders of the listed company was 1.223 billion, a year-on-year growth of 23.2%; basic earnings per share were 0.15 yuan. The company expects sales revenue in the first quarter of 2026 to be flat compared to the previous quarter, with a gross profit margin between 18% and 20%. Regarding the reasons for the performance changes, the announcement mentioned that it was mainly due to an increase in wafer sales volume, an increase in production capacity utilization, and changes in product mix. The announcement also mentioned that looking forward to 2026, for Semiconductor Manufacturing International Corporation, the opportunities brought by the return of the industrial chain coexist with the challenges brought by the storage mega-cycle. Considering various factors, the company's guidance for the first quarter is: flat sales revenue compared to the previous quarter, with a gross profit margin between 18% and 20%. Assuming no major changes in the external environment, the company's guidance for 2026 is: sales revenue growth higher than the average of comparable peers, with capital expenditure roughly the same as in 2025. 4. Hengdian Entertainment, Jiamei Food Packaging, and other major stocks urgently warn of risks Importance: Multiple major stocks issued risk warning announcements in the evening. Among them, Hengdian Entertainment announced that the company's stock price has shown a deviation of a cumulative 100% in the closing price for the past 10 trading days (from January 28, 2026, to February 10, 2026). If the stock price continues to abnormally rise, the company may apply for a trading halt for investigation. As of now, the company has invested in the production of three Chinese New Year films, "Crazy Car Life 3," "Boonie Bears: Bound for the Happy Rings," and "Stars in Dreams." The company is a co-investor in all three films with a relatively low investment percentage, and the market box office for these films still has uncertainties. Jiamei Food Packaging announced that the price has risen by 567.11% from December 17, 2025, to February 10, 2026, and has experienced multiple instances of abnormal stock trading fluctuations during this period. The company has conducted trading halts for investigation on January 7, 2026, and January 26, 2026, and disclosed the investigation results and resumed trading on January 12, 2026, and February 2, 2026. If the company's stock price continues to abnormally rise, the company may once again apply for a trading halt for investigation to the Shenzhen Stock Exchange. The regulatory updates published by the Shenzhen Stock Exchange website on February 6, 2026, show that the company's stock has been under close monitoring by the exchange in the recent period. 5. ByteDance responds to privacy controversy amid popularity: Limited real face uploads Importance: Recently, ByteDance's latest video generation model Seedance 2.0 entered internal testing in products like Zimeng, Dou Bao, and Little Skylark. Seedance 2.0 has gained popularity on the internet, attracting wide attention. However, along with the popularity, controversies have emerged, with many users expressing concerns about the privacy implications of generating "real" videos using large models. In response to this, ByteDance has limited the upload of real human faces. 6. Ge Weidong subscribes to 1 billion yuan of Anhui Jianghuai Automobile Group Corp., Ltd. additional shares Importance: Anhui Jianghuai Automobile Group Corp., Ltd. disclosed a report on the issuance of additional shares, with the company issuing a total of 70.1684 million shares to 8 investors including Yao Zhichao and Ge Weidong at a price of 49.88 yuan per share, raising a total of approximately 3.5 billion yuan. Among them, Ge Weidong, a major private equity investor, has subscribed to 20.0481 million shares for approximately 1 billion yuan. After the completion of the issuance of shares to specific entities, the shares subscribed by the entities shall not be transferable for a period of six months from the date of the issuance. 7. BYD Company Limited sues the US government, demanding tax refunds Importance: According to reports from various media outlets, the U.S. International Trade Court disclosed that the U.S. subsidiary of BYD Company Limited filed a lawsuit on January 26, accusing the U.S. government's tariff policy of being illegal and demanding tax refunds. In the lawsuit, BYD Company Limited stated that the company designs and manufactures electric buses and trucks in the United States, and to maintain business operations, it has paid significant tariffs on imported materials. Over 1000 corporate entities have filed similar lawsuits, including Kai Shi Ke, Goodyear Tire, Toyota, Kawasaki Heavy Industries, and others. From market attention investments, self-selected stocks have found that artificial intelligence is a popular area. 1. National Development and Reform Commission and eight other departments: Accelerate the promotion and application of artificial intelligence in the bidding and tendering field The National Development and Reform Commission and other departments issued the "Implementation Opinions on Accelerating the Promotion and Application of Artificial Intelligence in the Field of Bidding and Tendering." It proposes achieving full coverage application of key scenarios such as bidding document detection, intelligent assisted evaluation, and encirclement tag identification in some provinces and cities by the end of 2026; by the end of 2027, more key scenarios will be promoted and applied nationwide to establish a set of model training, scenario application, mechanism guarantee, and other experiences to effectively promote the standardized and healthy development of the bidding and tendering market. Dongxing believes that the artificial intelligence industry is currently at a stage of three-dimensional resonance in policy, technology, and demand, combined with the policy empowerment and potential funding support brought from the top-down by the "Artificial Intelligence+" action, domestic leading chip and cloud computing companies will gradually verify their performance, and the continued capital expenditure of large companies will raise the industry's development certainty. The industry's prosperity has room for upward trend, and its leading position in the field of technology investment is difficult to shake. In addition, the following sectors are also worth paying attention to: 2. Autonomous Driving | Shanghai has opened over 5200 kilometers of autonomous driving testing roads and will expand the opening range as needed. 3. Film Industry | The National Copyright Administration and four other departments have launched a special action to protect film copyrights, vigorously promote the transformation of film and television IP value and industry integration and upgrade. 4. Consumer Goods | Many regions issued Spring Festival consumption vouchers: some provinces have allocated a specific fund of 7.5 billion. 5. Computing Power | Zhejiang: Explores the construction of a computing power system integrating general computing, intelligent computing, supercomputing, and quantum computing. In terms of announcements with a positive tone, self-selected stocks recommend paying attention to China Railway Construction Corporation winning major projects totaling over 45 billion; in terms of announcements with a negative tone, be aware of Hunan Silver being reduced by 28.23 million shares, among other announcements. Positive Announcements: 1. China Railway Construction Corporation: Recently won major projects totaling 451.42 billion 2. Titan Wind Energy: New signing or winning offshore orders totaling around 8.7 billion 3. Dong-E-E-Jiao: Plans to invest 1.485 billion in the construction of a health consumer goods industrial park project 4. Henan Senyuan Electric: Expected to win a total value of 272 million in Southern Power Grid project materials 5. Hanma Technology Group: Two subsidiaries increased capital by 575 million and transferred all their shares Negative Announcements: 1. Hunan Silver: Chenzhou Guokong reduced by 28.23 million shares, accounting for 1% of the company's total share capital 2. Beijing YanDong MicroElectronic: National Integrated Circuit Fund reduced below 5% and is no longer a shareholder holding more than 5% 3. Jiawei Renewable Energy: Shareholder Shanghai Chu Guangfu forced to reduce by 0.73% 4. Shanxi C&Y Pharmaceutical Group: The company's largest shareholder Zhao Qun had his shares frozen by the court 5. Huiyu Pharmaceutical: Shareholder Huang Ganyi was forced to reduce by 0.307% This article is a reprint from "Tencent Self-Selection Stock", GMTEight editor: Xu Wenqiang.