The U.S. and Iran have finally agreed to negotiate. According to foreign media reports cited by Xinhua, Iran's Supreme Leader Mujtaba Khamenei has approved talks with the United States. U.S. Vice President Vance is scheduled to depart for Islamabad, Pakistan, on the morning of April 21 Eastern Time (evening of April 21 Beijing time) to hold discussions with Iran. On the 20th, former President Trump stated that he would be willing to meet with senior Iranian leaders if the negotiations achieve a breakthrough. The outcome itself is less important than the fact that talks are happening, which is a positive signal. Today, the Hong Kong stock market rose 0.48% amid fluctuations.
Kevin Warsh, the nominee for Federal Reserve Chair, is set to attend his confirmation hearing before the Senate Banking Committee. A preview of his opening statement obtained by foreign media shows a deliberate avoidance of core issues such as monetary policy and balance sheet reduction, with very limited text addressing policy stance. This is understandable, as his primary goal is to secure confirmation smoothly. Furthermore, the direction of the Powell case remains unresolved; his true stance will likely only become clear after he officially takes office. He is widely expected to be confirmed. As Trump's chosen candidate, he is likely to align with Trump's thinking, which is generally positive for the stock market.
Optimism in the tech sector continues. The Shanghai Municipal Government Office issued the "Implementation Plan for the National Digital Economy Innovation Development Pilot Zone (Shanghai)": upgrading and expanding intelligent computing infrastructure, and deploying high-performance domestic intelligent computing clusters. Combined with major cloud computing providers' investments in AI computing power, capital expenditure from the world's top eight cloud service providers is projected to reach $602 billion in 2026, a 40% year-on-year increase, directly driving demand for high-speed optical modules. Larger GPU clusters require more and faster optical modules for "communication" between them. Technological iteration is accelerating, with products ranging from 800G to 1.6T and even higher speeds moving from the lab to data centers. Those who can first deliver stable and reliable products in volume will gain a significant advantage. CIG (06166) stated on an interactive platform that the company, focusing on silicon photonics technology in the high-speed optical module field, has achieved volume shipments of 800G and small-batch shipments of 1.6T to key overseas customers. In terms of capacity, production at its Jiashan and Malaysia plants is gradually ramping up, and it is promoting capacity construction at its Mexico production base. The stock rose over 10% today. With packaging accounting for 12% of value, ASMPT (00522) gained nearly 7%. PCBs continued to rise with the tide: KB LAMINATES (01888) and KINGBOARD HLDG (00148) both rose over 7%. Memory concept stock GIGADEVICE (03986) increased over 4%. Google-concept stock INNOSCIENCE (02577) rose nearly 8%.
A major shareholder of Contemporary Amperex Technology (03750) conducted a block transfer of 58 million A-shares at a 5.1% discount, attracting 50 institutional investors with a subscription multiple of 2.1 times. Compared to the average 16% discount for similar transactions, this discount was very low. Institutions' willingness to lock up shares for six months at near-market prices is a strong endorsement of its fundamentals and medium-to-long-term value, alleviating concerns about selling pressure from the减持. The stock rose nearly 5% today.
Sentiment in the lithium battery sector was reignited. Tianqi Lithium Industry (09696) also reported impressive results: its first-quarter net profit attributable to shareholders was 1.7-2.0 billion yuan, compared to 104 million yuan in the same period last year, a staggering increase of 1530.31%-1818.01% year-on-year. However, the stock experienced a high-open, low-close pattern due to significant profit-taking. Lithium battery equipment supplier Lead Intelligent Equipment (00470) stands to benefit the most, as the company has achieved full-process, whole-line capability coverage across multiple technology routes. Its solid-state battery equipment has successfully entered the supply chains of leading domestic and international battery manufacturers and well-known automakers, completing volume deliveries and securing repeat orders. The stock rose over 6% today.
There was also news in the consumer sector. The State Council recently issued the "Opinions on Promoting the Expansion and Quality Improvement of the Service Industry." The document specifies that by 2030, the total scale of the service industry will reach the 100 trillion yuan threshold, cultivating more "China Service" brands, significantly enhancing the global competitiveness and influence of the service industry, and continuously improving the sense of gain among the people. This timing is suitable for focusing on consumer stocks, as the May Day holiday is approaching. According to the latest booking data released by Tuniu, bookings for packaged domestic tours during the May Day period have increased 10% year-on-year. Furthermore, primary and secondary school spring breaks in Hangzhou, Ningbo, Wenzhou, Jiaxing, Huzhou, Quzhou, and other places in Zhejiang province are connected with the May Day holiday, creating another "3+5" super-long holiday after the Spring Festival, greatly stimulating local residents' enthusiasm for travel.
Ready-to-drink tea, as the largest sales category, performed strongly. On the performance front, subsidy wars and promotional activities on food delivery platforms in 2025 have also brought significant benefits to ready-made tea drink brands. Mixue Group (02097) reported 2025 revenue of 33.56 billion yuan, a year-on-year increase of 35.2%; net profit was 5.93 billion yuan, up 33.1% year-on-year. The stock rose over 6% today. The strongest performer recently has been Auntie Shanghai (02589): last year's revenue was 4.466 billion yuan, up 36.0% year-on-year; net profit was 501 million yuan, a significant increase of 52.4% year-on-year. Crucially, it announced that all pre-IPO shareholders, including the controlling shareholder, have voluntarily extended their share lock-up periods, directly boosting market confidence. The stock surged nearly 15%. The catering sector also benefits from the short holiday. Xiaocaiyuan (00999) announced that it will pay a final dividend of HKD 0.2425 per share for the year ended December 31, 2025, on May 11, 2026. The bottom-fishing stock rose over 7%.
Bottom-fishing toy stock Buluke (00325) successfully turned a loss into a profit, focusing on its "three-all" strategy of globalization, all price points, and all demographics, with resources倾斜 towards brick cars, the 16+ adult line, and overseas markets. The correct strategy makes a later turnaround worth anticipating. The stock surged over 11%.
According to the National Bureau of Statistics, China's March monthly retail sales growth rate for cosmetics was 8.3%, with a Q1 cumulative growth rate of 5.9%, comprehensively outperforming the overall retail sales market. Giant Biogene (02367) has seen several of its Class III medical device products, such as "Recombinant Type I α1 Subtype Collagen Lyophilized Fiber" and "Recombinant Type I α1 Subtype Collagen and Sodium Hyaluronate Compound Solution," successively approved. Its aesthetic medicine products are about to enter the commercialization stage, potentially opening a second growth curve. Additionally, the company announced the cancellation of 9.2 million repurchased shares on April 20, 2026. The bottom-fishing stock rose nearly 8%; Maogeping (01318) also rose nearly 5% from the bottom.
On April 19, the Chery Group's premium brand Exeed launched the Exeed EX7, the inaugural model of its 3.0 era. The new vehicle is positioned as a "performance luxury large five-seat SUV," offering both pure electric and extended-range powertrains across six variants, with an official guide price of 199,900 yuan to 263,900 yuan. The main highlight is its advanced autonomous driving capabilities, featuring standard Falcon 700 (Orin-Y + 27 sensors)接近 the first tier, and the world's first application of aviation-grade EMB line-controlled braking, with a 90ms response time and 100-0km/h braking distance of 33 meters. Blind orders are reportedly over 82,000 units, indicating strong competitiveness. Chery Automobile (09973) rose nearly 5% today.
Apple supply chain supplier FIH Mobile (02038): its subsidiary Lingfu recently plans to further inject capital into Vietnam Fushan, with a total amount of $58.324 million, expected to be completed by the end of June 2026 or earlier. This injection likely reflects positive expectations for upcoming significant increases related to Apple's first foldable phone. The stock surged over 16% today.
The State Council issued opinions on promoting the expansion and quality improvement of the service industry. The opinions pointed out the need to deepen the large-scale application of the fifth-generation mobile communication (5G), promote the development of 5G-Advanced networks, strengthen R&D for sixth-generation mobile communication (6G) technology,适度超前建设 mobile Internet of Things, and develop satellite internet application services. This primarily benefits the three major telecom operators China Mobile (00941), China Telecom (00728), and China Unicom (00762); as well as China Tower (00788) and ZTE (00763).
Junda Shares (02865): SpaceX's IPO provides a positive stimulus;太空算力 orders are full. SpaceX plans to conduct an IPO in late June, aiming to raise $75 billion with a valuation target of $1.75 trillion, potentially becoming the largest IPO in history. The company's 2026 Q1 revenue was 1.694 billion yuan (-9.63% YoY); net profit attributable to shareholders was 14.16 million yuan (up 113.38% YoY); gross margin was 13.54% (up 7.66 ppts YoY). Analysis: SpaceX's IPO provides a positive stimulus for the company. The company's太空钙钛矿 has completed in-orbit verification and delivered samples to SpaceX. The company is the global TOPCon leader, actively布局 commercial aerospace +太空光伏, creating new growth points. The company holds stakes in Xingyi Xinneng and cooperates on perovskite and CPI film. Using its subsidiary Jietai Aerospace as a vehicle, it is accelerating the technological R&D and pilot line construction for products combining CPI film and perovskite-crystalline silicon tandem cells. It is布局 perovskite +太空光伏. Ground perovskite: laboratory tandem efficiency reaches 33.53% (industry-leading).太空钙钛矿: has completed in-orbit verification. 1) In December 2025, it acquired a 16.67% stake in Shangyi Photoelectric (Xingyi Xinneng) - backed by the Shanghai Institute of Optics and Fine Mechanics, CAS, focusing on太空钙钛矿 + CPI film technology. 2) In February 2026, it acquired a 60% equity stake in Shanghai Fuyao Xinghe, gaining control of Xuntian Qianhe, a commercial satellite whole-star manufacturer (domestically leading), with a team from the Aerospace Science and Technology Group, capable of producing 50 satellites annually. Currently in the stages of order landing, capacity building, and whole-star development. 2026: will begin contributing少量 revenue; significant volume is expected in 2027. The company plans to launch 20 satellites in 2026, with half being compute satellites. It has ample orders on hand. Traditional photovoltaics (core business) - overseas long-term orders are full. Overseas bases: Oman 5GW (already operational), Turkey 5GW (already producing wafers in April). It has long-term volume lock-ins with leading module manufacturers in North America and Europe. 2026 Q1 shipments were 5GW, with overseas accounting for 70%. Production is scheduled beyond Q3. The Turkey base exclusively supplies the US, with orders already locked in. 太空光伏 (new growth), 2026 orders on hand are approximately 3 billion yuan (doubling year-on-year). Satellite orders: about 100 satellites, covering 2026-2027. Potential orders: verification with SpaceX and other overseas companies is progressing. Strong overseas demand, capacity expansion, high export ratio, further布局 in Europe and Southeast Asia, volume increase in太空光伏, mass production of perovskite, high growth in satellite orders. Traditional photovoltaics +太空光伏 dual-drive growth.
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