A-share pre-market report | Semiconductor Manufacturing International Corporation and other chip giants report good news; the U.S. will impose tariffs on imported drones and parts.

Pre-market News 1. S&P Hits New High, Storage Sector Strengthens; SanDisk Rises Over 13% Type: Industry Sentiment Impact: Positive U.S. PPI data eases interest rate hike pressure, with all three major U.S. stock indices rising collectively, including the S&P 500 index closing at a historical high. Storage concept stocks strengthened across the board, with SanDisk rising by 13.67%, SK Hynix by 7.29%, and Micron Technology by 4.23%. During its Investor Day event, SanDisk stated that it expects a gross margin of 80% by 2030, fully returning the remaining cash to shareholders post-investment. 2. Up to 100%! The U.S. Will Impose Tariffs on Imported Drones and Components Type: Industry Sentiment Impact: Negative On August 13 local time, the White House issued a statement announcing that President Trump signed an announcement to impose tariffs of 10% to 100% on imported drones and parts over national security threats. The announcement stipulates a 100% tariff on drones with high sensitivity in specific sizes or functions, as well as docking stations and certain key components for such drones. This category includes drones with a maximum takeoff weight exceeding 25 kilograms and those equipped with thermal imaging capabilities. 3. Central Bank to Continue 100 Billion Yuan Repos, Far Exceeding Brokerage Expectations Type: Macro Sentiment Impact: Positive On August 13, the central bank announced that on August 14, the People's Bank of China will conduct 100 billion yuan reverse repos through a fixed amount, interest rate bidding, and multiple pricing approaches, with a term of six months (185 days). CITIC Securities' chief economist Mingming analyzed that this overnight reverse repo operation covers the day before the tax payment period, as well as T+0 to T+2 funds out, combined with the overnight funding term, reflecting the policy intent to meet short-term funding needs. 4. Strong Signals from Earnings Reports; Semiconductor Giants Like Semiconductor Manufacturing International Corporation Announce Positive Results Type: Company Sentiment Impact: Positive On the evening of August 13, multiple semiconductor giants, including Semiconductor Manufacturing International Corporation, Hygon Information Technology, and Hua Hong Grace Semiconductor, announced earnings that exceeded expectations. Galaxy Securities stated that during the earnings disclosure window, important companies earnings surpassing expectations and optimistic guidance for the next quarter support the semiconductor sector's recovery rebound, focusing on semiconductor equipment and materials, advanced packaging, and domestic computing power directions. Investment Calendar Optical Communication Technology and Applications Conference Investment Insights The most important thing is to save money to buy what you need or will need in the future, rather than waste money on a giant weather balloon that requires running after it for three or four minutes. Joel Greenblatt, "The Little Book That Still Beats the Market" Institutional Insights 1. China Galaxy: Structural market trends are expected to remain the main line; suggest balanced allocation, focusing on semiconductor and its industrial chain. 2. Orient: Short-term technical adjustments do not affect future upward movements; the tech sector and innovative medicines are worth holding onto. 3. Founder: The market is in a "volume adjustment + style transition" window; focus on innovative medicines and high-dividend stocks. Prospective Outlook on Good and Bad Factors 1. News Broadcast: China Accelerates New Generation Communication Network Construction Type: Market Discussion Changjiang: The communication network is driven by technological iteration to expand infrastructure, with self-controlled supply chains ensuring security, likely opening a new round of capital expenditures and performance realization cycles under the "14th Five-Year Plan" policies and the resonance of integrated demands across air, land, and sea. 2. Fresh Boost for Computing Power; DeepSeek Announces API Pricing Adjustments Type: Institutional Commentary Bank of China International: As the competitiveness of domestic models continues to rise and applications penetrate enterprise production processes, the benefiting chain is expanding from GPUs to CPUs, AI servers, storage, switches, optical modules, PCBs, liquid cooling, data centers, and power infrastructure, with the bullish logic of the entire domestic computing power industrial chain continuing to strengthen. 3. Ministry of Commerce: Continues to Impose Anti-dumping Duties on Imports of Single-mode Optical Fibers Originating from India Type: Policy Focus Kaiyuan Securities: North American AI giants continue to ramp up capital expenditures on computing power, with clear AI business expansion plans, confirming the sustainability of trends in the optical communication industry. Companies like Yangtze Optical Fibre And Cable Joint Stock are reporting better-than-expected results, with demand for optical fibers both domestically and overseas still showing clear certainty. Announcement Dispatch Slightly Positive Announcements 1. Grace Fabric Technology: Semi-annual profits for 2026 increased by 341.6% year-on-year. 2. Dawning Information Industry: Net profit in the first half of the year increased by 34% year-on-year; investment income increased due to better operational performance of affiliated subsidiaries. 3. Sharetronic Data Technology: Net profit in the first half of 2026 reached 1.863 billion yuan, up 331.11% year-on-year. Slightly Negative Announcements 1. Zhejiang Zhongjian Technology: Suspected of violating information disclosure laws and received a pre-penalty notice from the Zhejiang Securities Regulatory Bureau. 2. Jiangsu Chuanzhiboke Education Technology: The companys stock has been closely monitored by the Shenzhen Stock Exchange and may apply for suspension for investigation. 3. Changchun Zhiyuan New Energy Equipment: Joint actioner Wang Ran has cumulatively reduced holdings by 5.2477 million shares. Overseas Market U.S. PPI data eases interest rate hike pressure, with all three major indices rising collectively, including the S&P 500 index closing at a historical high. The storage sector surged, with SanDisk up over 13%; the optical communication sector declined, with Coherent falling about 8%; computer hardware stocks rose, with HP up more than 6%; the Nasdaq Golden Dragon China Index dropped by 1.84%, with most popular Chinese concept stocks declining. This article is reproduced from Tencent Stock Selection, edited by GMTEight: Xu Wenqiang.