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Top News Stories
Iran has stated that its retaliatory actions against U.S. military aggression involved the use of 10 ballistic missiles, destroying a U.S. command center and an air base. The Islamic Revolutionary Guard Corps of Iran issued a declaration on July 9, claiming that the second phase of its response to U.S. aggression utilized 10 ballistic missiles, "destroying the U.S. command center in the West Asia region and the U.S. air base in Azraq, Jordan." The statement warned that if the U.S. military engages in further aggressive actions, other U.S. bases in the region will also face intense artillery fire from Iran.
The United States launched a second consecutive day of strikes against Iran, with the Iranian military announcing it has already targeted U.S. bases in Kuwait and Bahrain. In the early hours of July 9, the U.S. initiated a new round of airstrikes against Iran, expanding the scope of targets to approximately 90 military objectives, reportedly including two railway bridges. Tehran subsequently responded by targeting key facilities at U.S. bases in Bahrain and Kuwait and threatening to broaden the scope of its attacks. Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament, warned on July 9, "Stop waving your fist in vain, or you will only sink deeper." A July 9 report from The New York Times indicated that the U.S.-Iran temporary ceasefire agreement has appeared precarious almost from the moment it was signed last month, and the latest round of mutual strikes seems to have pushed it to the brink of collapse.
Traffic through the Strait of Hormuz has plummeted, nearing a standstill. U.K.-based maritime analytics firm Windward released a report on July 9 stating that due to ongoing exchanges of fire between the U.S. and Iran, shipping traffic through the Strait of Hormuz has sharply declined, with commercial vessel traffic departing the Persian Gulf via the strait essentially coming to a halt.
The report detailed significant recent fluctuations in Strait of Hormuz traffic. On July 7, a total of 51 transits were recorded, with a surge to 35 vessels departing the Persian Gulf. On July 8, 35 transits were recorded, but only two of the 18 departing vessels used the southern lane, indicating that shipping operators chose to avoid the lane closer to Oman following the attacks the previous night. From the night of July 8 to the early morning of July 9, only 5 transits were recorded in the Strait of Hormuz, with just one vessel departing the Persian Gulf.
The State Council has issued the "15th Five-Year Plan" Carbon Peak Action Plan. Recently, the State Council released this plan, which outlines the carbon peaking work for the "15th Five-Year Plan" period (2026-2030). The plan explicitly requires that by 2030, China's carbon dioxide emissions per unit of GDP must be reduced by 17% compared to 2025, and the share of non-fossil energy consumption must reach 25%. This aims to ensure the timely achievement of the carbon peaking goal and lay a solid foundation for meeting the 2035 Nationally Determined Contribution target and advancing carbon neutrality.
A significant development for the retail sector: nine ministries have issued a joint document! The "Pang Donglai" model was mentioned 12 times during a special press conference. On July 9, the Ministry of Commerce and eight other departments jointly released the "Opinions on Accelerating the Innovative Development of the Retail Industry." This document proposes 20 policy measures across areas such as coordinated planning and rational layout, improvement of product and service quality, synergistic optimization of existing and new business, and fair competition between online and offline channels, aiming to promote the accelerated transformation and upgrading of the retail industry.
Regarding specific financing policies, the document supports eligible new and high-quality retail enterprises in going public. It also supports qualified retail operating entities in issuing asset-backed securities and commercial real estate investment trust funds. Furthermore, it supports eligible consumer infrastructure projects, such as department stores, shopping malls, community commercial centers, and farmers' markets, in issuing infrastructure-focused real estate investment trust funds. The Ministry of Commerce's praise for the "Pang Donglai experience" is seen as signaling a shift in industry direction.
China's Consumer Price Index maintained moderate growth in June, with the overall price trend expected to improve in the second half of the year. Latest data released by the National Bureau of Statistics on July 9 shows that in June, the CPI fell by 0.3% month-on-month but rose by 1.0% year-on-year, with the year-on-year increase decelerating by 0.2 percentage points from May. The Producer Price Index for manufactured goods turned from a monthly increase to a decrease, while its year-on-year increase expanded. Experts interviewed noted that the deceleration in the CPI's year-on-year growth and the PPI's monthly decline were influenced by falling international gold and oil prices. In the first half of the year, overall price levels moved out of the bottom range, showing characteristics of mild inflation. For the second half, policies to expand domestic demand are expected to be intensified, and the overall price trend is anticipated to be favorable.
China's new energy vehicle production and sales both exceeded 7 million units in the first half of the year. According to a report on July 9 from the China Association of Automobile Manufacturers, in the first half of 2026, China's production and sales of new energy vehicles reached 7.438 million and 7.446 million units respectively, both achieving year-on-year growth. Among these, the sales share of pure electric vehicles rose to around 67%.
In June alone, production and sales of new energy vehicles were 1.598 million and 1.643 million units respectively, both increasing by over 20% year-on-year. The proportion of new energy vehicle sales to total new vehicle sales further increased, reaching 58.5%.
A fire at a shoe factory in Jinjiang, Fujian province, has resulted in 28 fatalities, and the person in charge has been placed under control. On July 9, a fire broke out at the factory of Huiteng Footwear Co., Ltd. in Jiangtou Village, Chendai Town, Jinjiang City, Fujian. The accident has caused 28 deaths. It has been reported that the enterprise's responsible person and relevant personnel have been placed under control, and the company's accounts have been frozen.
Notable Companies
Shares of Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), a star stock that had seen a ten-fold increase, faced a sell-off of over a million shares, netting approximately 4 billion yuan in proceeds. On July 9, Yangtze Communications announced that as of July 9, the company had sold 999,985 A-shares of YOFC through centralized bidding, with a transaction value of 4.12 billion yuan. The sale price range was between 380.03 yuan and 448.02 yuan per share. The company had previously obtained authorization on February 13 and March 6 to sell up to 1 million YOFC shares at opportune times.
GigaDevice Semiconductor Inc. forecasts a staggering 1099% increase in half-year net profit. On July 9, the A-share "memory chip leader" disclosed its half-year performance forecast.
The company estimates that its net profit attributable to shareholders for the first half of 2026 will be approximately 6.9 billion yuan, representing a year-on-year increase of about 1099%. It also forecasts that its net profit attributable to shareholders after deducting non-recurring gains and losses for the first half of 2026 will be around 4.85 billion yuan, a year-on-year rise of roughly 791%.
Sector Highlights
The 2026 edition of the National Essential Medicines List has been released, benefiting core products of several A-share pharmaceutical companies.
Southbound funds are aggressively buying into the technology sector, with multiple factors converging to initiate a valuation recovery.
The "regular flight" model for commercial spaceflight is pushing for upgrades in industrial machine tools.
New national standards for power batteries have taken effect, leading to a reassessment of the "safety value" of the separator industry.
With product prices operating at high levels, aluminum companies are reporting positive earnings forecasts for the first half of the year.
Market Strategy
Morgan Stanley's Chief China Equity Strategist, Laura Wang, stated in a report: "Most international investors have indicated they are considering increasing their allocation to Chinese equities but are not in a hurry to act." The primary reasons overseas investors are considering increasing their exposure to Chinese assets are diversification needs and potential policy support. Currently, investors generally hold concentrated positions in overseas AI super-cycle related stocks, and in some cases, these positions are beginning to hit allocation limits. Meanwhile, following recent pullbacks, the valuation of the MSCI China Index has become more reasonable.
Today's New Listings
Today, investors can subscribe for the new科创板 (STAR Market) stock Tanomab. Tanomab is issuing approximately 69.08 million shares in total, with around 11.7435 million shares available for online subscription. The subscription code is 787806, the subscription price is 14.46 yuan, the single account subscription上限 is 11,500 shares, and subscriptions must be in multiples of 500 shares.
Announcements Summary
Key Announcements
Zhengbang Technology Co., Ltd. estimates that asset losses caused by Typhoon "Maysak" will exceed 10% of its 2025 net profit.
*ST Huawen has applied to撤销 the delisting risk warning but will continue to be subject to other risk alerts.
Hengshang Energy Saving Technology Co., Ltd., whose stock has risen for eight consecutive trading days, warns of significant short-term price increases and the constant risk of a rapid decline.
Zhejiang Meida Electric Co., Ltd. is planning a change in control; its shares will be suspended from trading starting July 10.
Financing Activities
Shenzhen Clou Electronics Co., Ltd. plans to issue shares to its controlling shareholder, Midea Group, to raise no more than 2.5 billion yuan.
Zhejiang Jinfei Kaida Wheel Co., Ltd. plans to raise no more than 295 million yuan for projects including the intelligent manufacturing of automobile wheel production lines.
Datang International Power Generation Co., Ltd. plans a private placement to raise up to 8 billion yuan for projects including the expansion of several power plants.
Operating Performance
Sunwave Communications Co., Ltd. (002115) forecasts a year-on-year increase in first-half net profit of 1428.58% to 2001.8%.
GigaDevice Semiconductor Inc. forecasts a year-on-year increase in first-half net profit of approximately 1099%, driven by volume and price increases for its memory chip products.
Guangzhou Tinci Materials Technology Co., Ltd. forecasts a year-on-year increase in first-half net profit of 907.84% to 1019.82%.
Yangzhou Midas New Material Co., Ltd. forecasts a year-on-year increase in first-half net profit of 248.45% to 272.08%.
Zhejiang Xinan Chemical Industrial Group Co., Ltd. forecasts a year-on-year increase in first-half net profit of 247.46% to 276.41%.
HANS CNC Technology Co., Ltd. forecasts a year-on-year increase in first-half net profit of 241.85% to 279.84%.
Shenzhen Hongfuhan Technology Co., Ltd. forecasts a year-on-year increase in first-half net profit of 221.13% to 265.13%.
Dalian Electric Porcelain Co., Ltd. forecasts a year-on-year increase in first-half net profit of 200.55% to 286.43%.
Allwinner Technology Co., Ltd. forecasts a year-on-year increase in first-half net profit of 194.73% to 219.55%.
Han's Laser Technology Industry Group Co., Ltd. forecasts a year-on-year increase in first-half net profit of 156.07% to 176.55%.
Shanghai Lisen Industry Co., Ltd. forecasts a year-on-year increase in first-half net profit of 154.22% to 190.54%.
Henan Shenhuo Coal & Power Co., Ltd. forecasts a year-on-year increase in first-half net profit of 152.04%.
Tongyi Oil Chem Co., Ltd. forecasts a year-on-year increase in first-half net profit of approximately 105.98%.
Contract Awards
Liyuan Technology Co., Ltd. has signed a 34.88 million yuan sales contract for condensate polishing equipment.
Sokan New Materials Co., Ltd. has signed an approximately 30 million yuan sales contract for UV inkjet printing equipment for cell insulation.
Guizhou Aviation Technical Development Co., Ltd. has signed a long-term supply agreement worth approximately 240 million yuan for aero-engine rotating parts.
Share Transactions & Buybacks
Brightdairy & Food Co., Ltd.: The actual controller plans to increase their shareholding by 50 million to 100 million yuan.
Shenghang Shipping Co., Ltd.: The controlling shareholder plans to increase their shareholding by up to 3.24% of the company's shares.
Neusoft Corporation plans to repurchase 100 million to 200 million yuan worth of shares for cancellation.
Qingmu Technology Co., Ltd. plans to repurchase 20 million to 30 million yuan worth of its own shares.
Weilong Pipe Co., Ltd.: The actual controller plans to reduce their shareholding by no more than 1.49% of the company's shares.
VeriSilicon Microelectronics (Shanghai) Co., Ltd.: The National Integrated Circuit Industry Investment Fund plans to reduce its shareholding by no more than 0.2% of the company's shares.
Shaanxi Energy Group Co., Ltd.: Chang'an Huitong plans to reduce its shareholding by no more than 2% of the company's shares.
Other Announcements
Sanxia New Building Materials Co., Ltd. plans to collaborate with its indirect controlling shareholder to invest approximately 2.6 billion yuan in a project for automotive and electronic glass in a port area.
Azure Lithium Co., Ltd. plans to invest 290 million USD to build a 5GWh cylindrical lithium battery manufacturing project in Indonesia.
Tiandirenhe Co., Ltd. plans to establish a joint venture company to invest in a project for the production of crystal resonators and oscillators.
Fushite Co., Ltd. has established a strategic cooperative relationship with Longjing Lianhui in the field of mining equipment maintenance.
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