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Market Dynamics
Israeli officials say the US and Israel are consulting on plans to strike Iran. On the 15th local time, according to Israeli sources citing Israeli security officials, Israeli and Western intelligence indicate that Iran is taking "extreme measures" on the military front, so Israeli Prime Minister Netanyahu spoke by phone with US Secretary of State Rubio that day to discuss plans for a military strike on Iran. However, the report said officials from both Israel and the US stated that both sides assess the current situation has not yet reached a level requiring immediate military action. Previously, US President Trump said he would not attack Iran before the US midterm elections on November 3, and Netanyahu also said he would not act before Israel's parliamentary elections on October 27.
The US may use the "Mother of All Bombs" to strike Iran. Multiple US officials revealed that the US military has formulated a new strike plan against Iran, including considering the use of the GBU-43/B Massive Ordnance Air Blast bomb (MOAB), known as the "Mother of All Bombs," to strike Iran's energy infrastructure and nuclear facilities. Current signs indicate that the possibility of resolving the issue through negotiations between the US and Iran is very low. The MOAB is the largest non-nuclear bomb in the US military's arsenal, weighing approximately 21,600 pounds (about 9.8 tons), and can destroy an area equivalent to 9 city blocks. However, US military insiders have expressed doubts about the bomb's actual effectiveness, believing it may be difficult to penetrate and destroy Iran's underground facilities.
Ministry of Finance: Precisely and Effectively Implement a More Proactive Fiscal Policy
On October 15, the G20 held its third Finance Ministers and Central Bank Governors Meeting of the year in Bangkok, Thailand. Finance Minister Lan Fo'an attended the meeting and stated in his speech that this year is the opening year of China's "15th Five-Year Plan," and China's economy continues to maintain overall stability and is developing in a new and improved direction. We will precisely and effectively implement a more proactive fiscal policy, promote sustained new and improved economic development, and inject confidence and certainty into the world economy. The meeting mainly discussed topics including the global macroeconomic situation, financial sector development, G20 finance track cooperation progress, and work outlook.
Central Bank Governor: Global Imbalances Cannot Be Adjusted Through Exchange Rates
People's Bank of China Governor Pan Gongsheng stated at the meeting that regarding global imbalances, all parties should have a more comprehensive analytical perspective. It is not enough to only look at the current account; attention should also be paid to financial channels. Especially as global financial integration deepens, greater emphasis should be placed on the impact of capital flows and other financial factors on imbalances. Global imbalances cannot be adjusted through exchange rates. Exchange rates are affected by multiple factors including economic growth, monetary policy, financial markets, geopolitics, and sudden risk events, and do not have a simple linear relationship with the current account. Deficit countries and surplus countries should work together to achieve dynamic balance in the global economy. Pan Gongsheng stated that intensifying geopolitical conflicts remain the biggest uncertainty for the global economy. All parties should fully utilize the G20 finance cooperation platform, strengthen macroeconomic policy coordination, and jointly address global risks and challenges. China's high-quality economic development continues to maintain a positive trend, and the People's Bank of China will continue to implement an appropriately accommodative monetary policy.
Ministry of Commerce: China's Foreign Direct Investment Equity Stock Reaches 26.8 Trillion Yuan, Ranking Second Globally
Recently, the Ministry of Commerce, together with relevant departments, completed the compilation of 2025 foreign investment information report annual data. Ministry of Commerce spokesperson He Yadong disclosed a set of data at a regular press conference on the 15th: in 2025, a total of 461,000 foreign-funded enterprises submitted annual reports, a year-on-year increase of 5.7%. China's foreign direct investment equity stock reached 26.8 trillion yuan, achieving growth for six consecutive years and ranking second globally.
Ministry of Commerce Responds to So-Called Overcapacity Argument
If certain economies take restrictive measures against Chinese products under the name of "overcapacity," how will China retaliate? At the regular press conference held by the Ministry of Commerce on October 15, spokesperson He Yadong stated that China has repeatedly clarified its position, opposing certain countries politicizing economic and trade issues and using the so-called "overcapacity" as a pretext for trade protectionism. If relevant economies use this as an excuse to take measures that harm China's interests, China will make a firm and necessary response.
Three Departments Jointly Investigate Vehicle Brake Pedal Bracket Fracture Issue
In response to online reports of the "Zunjie V800 brake pedal bracket fracture issue," the Ministry of Industry and Information Technology, the Cyberspace Administration of China, and the State Administration for Market Regulation attached great importance to it. Building on preliminary investigation work, they established a joint investigation team to conduct verification and handle the matter in accordance with laws and regulations. Relevant information will be released in a timely manner. Cui Dongshu, Secretary-General of the China Passenger Car Association, told Securities Times reporters that moving regulation forward is conducive to reshaping industry competition rules and concentrating resources in enterprises with complete verification capabilities.
Four Departments Release Investigation Results on Formamide Issue in Diapers
Supervision and spot checks were carried out on infant diaper products. After the public opinion incident, the National Disease Control and Prevention Administration organized local disease control departments to conduct comprehensive spot checks on all 168 infant diaper production enterprises in China (including OEM enterprises), sampling a total of 368 batches of finished diaper samples from 180 brands, and commissioned authoritative testing institutions such as the Chinese Center for Disease Control and Prevention and the China Quality Inspection and Testing Science Research Institute to conduct testing. At the same time, 32 batches of part-specific testing were carried out on key parts such as waistbands and adhesive fasteners of some key brand infant diapers. According to the test results, no formamide was detected in all 368 batches of finished samples and 32 batches of part-specific samples.
Topic Companies
Zunjie Auto Responds to MIIT Investigation: Actively Respond, Fully Obey, and Will Fully Cooperate
On October 15, Zunjie Auto issued a statement saying that on October 15, the MIIT and two other departments issued a notice on a joint investigation into the vehicle brake pedal bracket fracture issue. "We actively respond, fully obey, and will fully cooperate with the work of the joint investigation team, resolutely safeguard the legitimate rights and interests of consumers, and resolutely safeguard the overall development of the new energy vehicle industry."
Eoptolink, T&S Communications, Biwin Storage: A-Shares See Another Batch of Buybacks
Eoptolink announced that the company received a proposal from controlling shareholder, actual controller, and chairman Gao Guangrong to repurchase the company's A-shares through centralized bidding using its own or self-raised funds, with a total repurchase amount of no less than 800 million yuan and no more than 1 billion yuan. The repurchased shares will be used for equity incentives or employee stock ownership plans. The repurchase price shall not exceed 150% of the average stock trading price for the 30 trading days before the board of directors approves the repurchase plan, and the repurchase period shall be within 12 months from the date of approval by the board of directors.
Cook: Apple Intelligence to Launch Test Version in China by End of October
On October 15, Apple Executive Chairman Cook revealed in an interview with reporters in Shanghai that Apple Intelligence has been approved in China. A test version will be available later in October, with initial features including real-time translation, writing tools, and image removal. Siri AI is not included.
Longsys Forecasts Over 18-Fold Increase in Net Profit for First Three Quarters: Q3 Non-GAAP Net Profit Declines Sequentially
On October 15, storage leader Longsys released its performance forecast for the first three quarters of 2026. The company expects to achieve operating revenue of 38 billion yuan to 40 billion yuan in the first three quarters, a year-on-year increase of approximately 127% to 139%; net profit attributable to shareholders of the listed company of 14 billion yuan to 14.9 billion yuan, a year-on-year increase of 1,864.55% to 1,990.84%. Net profit after deducting non-recurring gains and losses is expected to be 13.8 billion yuan to 14.8 billion yuan, a year-on-year increase of 2,782.36% to 2,991.23%.
CK Hutchison Issues Statement on "Li Ka-shing Death" Rumors
At noon on the 15th, CK Hutchison issued a statement regarding market rumors of "Li Ka-shing's death." The statement said that in response to media today reprinting a mainland self-media outlet falsely claiming that Hong Kong Ta Kung Pao reported the death of CK Hutchison senior advisor Li Ka-shing, "the Group hereby solemnly declares 'absolutely no such thing.'"
98-Year-Old Li Ka-shing's Latest Photos Revealed, Video Meeting with Singapore Prime Minister Lawrence Wong a Week Ago
According to China Qiaowang, 98-year-old CK Hutchison and Hutchison Whampoa founder and senior advisor Li Ka-shing has rarely appeared in public since retirement. A self-media outlet cited rumors claiming Li Ka-shing had passed away. Forbes magazine published a review of its event held last Wednesday and Thursday (the 7th and 8th) on the afternoon of October 15, and published Li Ka-shing's latest "recent photos."
Industry Hotspots
From "Supporting Facilities" to "New Infrastructure": The Role of the Energy Storage Industry Is Being Reshaped. Electronic cloth prices continue to rise, high-end capacity is expected to be released. Lithium battery listed companies' performance in the first three quarters is generally positive. The full-chain industrialization of hydrogen energy continues to advance.
Market Strategy
Shenwan Hongyuan Securities research report believes that the brokerage sector is expected to receive dual catalysts from performance and policy in the second half of the year, and the current sector valuation safety cushion is sufficient. First, the third-quarter report disclosure window is approaching, and performance disclosure in late October is expected to provide fundamental support for the valuation repair of high-quality brokerages; second, the fourth-quarter policy window is approaching, and as a sector highly sensitive to policy, brokerages have the opportunity to benefit first.
Today's New Stock Subscriptions
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Announcement Summary
Performance
Longsys: First three quarters net profit expected to increase 1,864.55%–1,990.84% year-on-year. Hengyi Petrochemical: First three quarters net profit expected to increase 3,318.59%–3,405.13% year-on-year. Photop Technology: First three quarters net profit expected to increase 142%–162% year-on-year. Han's Laser: First three quarters net profit expected to increase 145.55%–157.13% year-on-year. Tongkun Group: First three quarters net profit expected to increase 332.64%–358.47% year-on-year. Fudan Microelectronics: First three quarters net profit expected to increase 187.63%–248.18% year-on-year. Han's CNC Performance Express: First three quarters net profit of 1.544 billion yuan, a year-on-year increase of 214.03%. Raytron Technology: First three quarters net profit expected to increase 218%–232% year-on-year. MetaX: First three quarters expected profit of 587 million yuan to 717 million yuan, turning profitable year-on-year. Ganfeng Lithium: First three quarters net profit of 5.012 billion yuan, a year-on-year increase of 19,540.5%. Sugon: First three quarters net profit of 1.724 billion yuan, a year-on-year increase of 78.48%. Hygon Information: First three quarters net profit expected to increase 38.16%–51.93% year-on-year. Meinian Onehealth: First three quarters net profit expected to increase 75.47%–92.83% year-on-year. Huafon Chemical: First three quarters net profit expected to increase 98.42%–118.95% year-on-year.
Buybacks
Ugreen: Plans to repurchase company shares for 50 million yuan–100 million yuan. Shandong Hi-Speed: First repurchase of 2 million shares, total payment of 22.18 million yuan. Colorlight: Chairman proposes repurchase of company shares for 50 million yuan–100 million yuan. Changxin Bode: Chairman proposes repurchase of company shares for 200 million yuan–300 million yuan. Eoptolink: Chairman proposes repurchase of company shares for 800 million yuan–1 billion yuan. Wens Foodstuff: Chairman proposes repurchase of company shares for 50 million yuan–100 million yuan. T&S Communications: Controlling shareholder proposes repurchase of company shares for 100 million yuan–150 million yuan. Biwin Storage: Controlling shareholder proposes repurchase of company shares for 200 million yuan–250 million yuan. Sanxin Medical: Plans to repurchase company shares for 30 million yuan–60 million yuan. Changchuan Technology: Chairman proposes repurchase of company shares for 50 million yuan–100 million yuan. Avary Holding: Chairman proposes repurchase of company shares for 300 million yuan–500 million yuan. Piotech: Chairman proposes repurchase of shares for 200 million yuan–300 million yuan.
Increases in Holdings
Luwei Optoelectronics: Actual controller plans to increase holdings of company shares for 20 million yuan–40 million yuan. Kailun Shares: Sicaiguang Electronics plans to increase the increase amount to 140 million yuan–280 million yuan. Loongson Technology: Controlling shareholder plans to increase holdings of company shares for 5 million yuan–6 million yuan.
Contract Awards
Pudong Construction: Subsidiary wins multiple major projects, with bid-winning amount of 1.388 billion yuan. Shanghai Construction Group: New contract amount for January–September was 165.489 billion yuan. Fawer: In the third quarter, the company added 64 new orders on a consolidated basis, with total expected lifecycle revenue from obtained orders of 12.33 billion yuan. Guangzhi Technology: Subsidiary pre-wins a 1.114 billion yuan project.
Other
CICC: The equity registration date for the share swap absorption merger of Dongxing Securities and Xinda Securities is October 16. Yuanjie Technology: The first batch of production equipment for the second phase of the optoelectronic communication semiconductor chip and device R&D and production base project is expected to enter the factory soon.
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