Here is a summary of the main headlines from China's leading financial newspapers for Tuesday, June 23, 2026.
China Securities Journal
Two companies have forecasted their first-half profits to more than double, raising questions about whether a mid-year earnings rally is on the horizon. On the evening of June 22, Changchuan Technology and Satellite Chemical both released impressive semi-annual performance forecasts. Changchuan Technology expects its first-half net profit attributable to shareholders to be between 9 billion and 10 billion yuan, representing a year-on-year increase of 110.76% to 134.18%. Satellite Chemical anticipates its first-half net profit to be in the range of 60 billion to 70 billion yuan, a surge of 118.68% to 155.13%.
Suzhou Sunwoda Technology Co., Ltd. (Saiwu Technology) has denied rumors that it is under investigation. On June 22, the company's stock opened sharply lower, briefly hitting the daily limit-down, and closed down 8.69% with a turnover rate of 9.03% and a trading volume of 5.17 billion yuan. The previous trading day, on June 18, its stock also fell by the daily limit. In an announcement regarding abnormal stock price fluctuations released on the evening of June 22, the company stated that its stock price had deviated by more than 20% over two consecutive trading days. It clarified that, after self-inspection and verification with its controlling shareholder, there are no significant undisclosed matters.
Four A-share companies are set to be delisted. On the evening of June 22, Guohua and Yanshi, both in the delisting process, announced that their delisting consolidation periods had ended on June 22. The Shanghai Stock Exchange will delist their shares on June 29. Similarly, Panda and Huarong, also undergoing delisting, announced the end of their consolidation periods, with their shares scheduled for delisting on June 26.
While awaiting their IPOs, several banks are actively seeking to replenish capital. No new bank has been listed on the A-share market in over four years, with five small and medium-sized banks still in the queue. During this waiting period, these banks continue to seek capital injections. Dongguan Bank recently completed a procurement tender for an asset evaluation project related to its 2026 capital increase and share expansion. Meanwhile, Hubei Bank has included a new round of capital increase and share expansion plan in the agenda for its shareholders' meeting in early May.
Shanghai Securities News
The AI-driven momentum is accelerating, with more semiconductor segments entering an upward cycle. The supply-demand balance for memory chips is not expected to show signs of improvement until 2027. Meanwhile, AI-driven demand is spreading, with tight supply for power and analog chips anticipated to continue in the second half of the year. Industry experts note that AI is providing increasingly strong growth momentum for the semiconductor industry, radiating to more specialized fields.
Beneath the market exuberance, global capital is using leverage to bet on semiconductors. The sustained heat in the global semiconductor sector has fueled the popularity of related leveraged ETFs. However, data reveals that the investor base for these instruments is distinctly retail-oriented. Analysts warn that leveraged ETFs are a double-edged sword, amplifying gains during market upswings but also magnifying losses during downturns. With market divergence intensifying and multiple uncertainties at play, the potential risks of these ETFs are becoming more pronounced, warranting high caution from investors.
Major stock indices rose amid fluctuations, with trading volume approaching a historical single-day peak. Analysts suggest the overall upward trend for the A-share market remains intact. On the first trading day after the Dragon Boat Festival holiday, major A-share indices closed higher, indicating a clear bullish sentiment. The Shanghai Composite Index closed at 4163.10 points, up 1.78%; the Shenzhen Component Index rose 2.13% to 16372.50 points; the ChiNext Index gained 2.52% to 4359.39 points, setting a new high; and the STAR 50 Index also hit a new high of 1948.93 points, up 1.96%.
Driven by computing infrastructure and communication network upgrades, demand for high-purity silicon tetrachloride has been recovering this year, with its market outlook improving.
Securities Times
The Summer Davos Forum, focusing on "Innovation at Scale," commenced today. The World Economic Forum's 17th Annual Meeting of the New Champions is being held in Dalian from June 23 to 25. The event has attracted over 1,700 registered participants from more than 90 countries and regions. With the theme "Innovation at Scale," the forum reflects a shared aspiration to bridge technological divides and trade barriers, transforming scientific and technological innovations into tangible productivity.
The computing power rental sector presents a mixed picture, with stark performance contrasts between industry leaders and new cross-sector entrants. Since the beginning of 2026, the computing power rental sector has sparked a capital frenzy in the A-share market. Over 70 concept stocks span 15 industries, ranging from established giants with market capitalizations in the hundreds of billions to smaller companies with primary businesses in tourism, dyes, or landscape design, all entering the computing power arena. Amidst the supply-demand mismatch driven by exploding AI inference demand and a severe shortage of high-end GPUs, some players with first-mover advantages and massive orders have seen their performance and market value soar. Others, however, have faced supply chain disruptions, funding shortages, or difficulties adapting to a new sector, leading to delivery defaults and stalled projects.
Amidst sharp fluctuations in gold prices, banks have collectively raised margin requirements for precious metal products. On June 22, China Guangfa Bank, Hua Xia Bank, and Bank of China successively announced increases in the margin ratios for their agency businesses in Shanghai Gold Exchange's deferred precious metal contracts for individual clients. Statistics show that since June, at least seven banks, including the big four state-owned banks and China Merchants Bank, have adjusted these margin ratios. Several institutions have raised the ratio from around 100% to 120%, with some even as high as 140%.
KNOWLEDGE ATLAS's market value surpassed one trillion Hong Kong dollars, as domestic large language models command a scarcity premium. On June 22, Hong Kong-listed KNOWLEDGE ATLAS saw its stock surge over 42% intraday, hitting a high of HK$2,980 per share, corresponding to a market capitalization of HK$1.27 trillion. By the close, the stock settled with a 15.09% gain at HK$2,410 per share, giving it a market cap of HK$1.07 trillion. Since its listing less than six months ago, its market value has skyrocketed from HK$52.8 billion to over a trillion Hong Kong dollars, a cumulative increase exceeding 1900%.
Securities Daily
TGV glass substrates are poised to become the next-generation advanced packaging material. As large language model parameters scale towards the trillions, AI chips are growing in size and generating more heat, causing traditional silicon-based substrates to warp easily. In this context, TGV (Through Glass Via) glass substrates have recently garnered widespread attention. The industry views TGV glass substrates, with advantages such as low loss, resistance to warping, support for large-panel-level production, and significantly lower material costs compared to traditional silicon substrates, as an ideal choice for next-generation advanced packaging.
Shifts in the supply-demand dynamics for the minor metal zirconium have attracted capital to related A-share stocks. Data shows that on June 22, the zirconium concept sector gained traction. By the close, core leaders in the sector, including Sanxiang Advanced Materials Co., Ltd. and Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd., saw their stocks hit the daily limit-up, while several other related stocks rose over 5%.
The brokerage sector experienced a long-awaited broad rally on Monday, with four stocks hitting the daily limit-up. On June 22, the A-share brokerage sector witnessed a comprehensive surge. The sector index rose over 6%, with a full-day trading volume reaching 90.882 billion yuan. All stocks in the sector closed in positive territory. East Money Information Co., Ltd. led the gains with a 12.74% increase. China Securities Co., Ltd., GF Securities Co., Ltd., Changjiang Securities Company Limited, and Caitong Securities Co., Ltd. all hit the daily limit-up. Major players like Huatai Securities Co., Ltd. and China CITIC Securities Company Limited also rose more than 7%.
The property market in core cities has continued its recovery trend since June. Since the beginning of June, the secondary housing market in core cities has maintained its recovery momentum. The latest data from the China Index Academy shows that from June 1 to 20, transactions of pre-owned homes in 20 key cities totaled 88,000 units, a year-on-year increase of 10.9%. During the Dragon Boat Festival holiday, markets in core cities like Beijing, Shanghai, and Shenzhen remained highly active. Listing volumes in many cities have continued to decline from previous highs, indicating a marginal improvement in the supply-demand balance.
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