National Energy Administration officials announced that 2026, marking the start of the 15th Five-Year Plan period, will see the implementation of a new energy system and a series of sector-specific energy plans. These initiatives aim to enhance energy security, accelerate the construction of a modern energy system, and support national development goals. Key projects will be prioritized, including major hydropower developments like the Yaxia project, wind and solar power bases in northern and southwestern regions, coastal nuclear and offshore wind power bases, and upgrades to electricity and oil/gas transmission networks. Smaller-scale projects will also be advanced, such as expanding electric vehicle charging infrastructure, building integrated renewable energy and hydrogen/ammonia/methanol production bases, developing concentrated solar power plants, establishing zero-carbon industrial parks, and promoting green transformation of heating systems.
In U.S. markets, the Dow Jones fell 821.91 points (1.66%) to 48,804.06, while the Nasdaq dropped 258.80 points (1.13%) to 22,627.27. The S&P 500 declined 71.76 points (1.04%) to 6,837.75. Precious metals and non-ferrous sectors led gains, while software and IT services declined sharply. IBM shares plunged over 13%, their largest single-day drop since 2000, after AI startup Anthropic revealed its Claude Code tool could help modernize the outdated COBOL programming language. The Nasdaq Golden Dragon China Index fell nearly 1%. Adobe and Oracle dropped approximately 4.6%, Salesforce declined 3.7%, and Microsoft fell 3.2%. Hong Kong's Hang Seng Index ADRs retreated 344.88 points (1.27%) to 26,737.03. COMEX gold futures surged $167 (3.29%) to $5,247.90/oz, while silver futures rose $5.66 (6.87%) to $88.00/oz. Spot gold increased $123.41 (2.42%) to $5,227.75/oz, and spot silver gained $3.55 (4.19%) to $88.20/oz.
Former U.S. President Trump is considering new national security tariffs targeting six industries, following a Supreme Court ruling that invalidated several taxes from his second term. The potential tariffs may cover large-scale batteries, iron castings and fittings, plastic pipes, industrial chemicals, and power grid/telecom equipment. These would be imposed under Section 232 of the Trade Expansion Act of 1962, which grants the president broad authority to levy tariffs based on national security risks. The new tariffs would be separate from other taxes Trump announced after the Supreme Court's decision, including a temporary 15% tariff lasting five months and additional tariffs under Section 301 of the Trade Act.
Industry reports indicate mobile phone panel prices declined across the board in February due to seasonal weakness and rising costs. Upstream memory chip prices continued to climb significantly, increasing overall bill-of-materials costs and prompting device brands to reduce shipment targets.
During the Spring Festival period (February 10-21), offline performances increased 27% year-over-year, according to a report from Orca Entertainment Group. Classic series and documentaries were popular for family viewing. Total box office revenue for the 2026 Spring Festival film season exceeded 55 billion yuan, with Jiangsu, Guangdong, Shandong, Zhejiang, and Henan provinces contributing the highest sales. Tier-3 and Tier-4 cities accounted for 53.4% of total票房, a record high.
AI startup Moon Dark Side has become China's fastest company to achieve decacorn status (valuation exceeding $10 billion), raising over $12 billion in recent funding. Its valuation surged more than 30-fold in just over two years, outpacing the growth trajectories of ByteDance and Pinduoduo. The company's K2.5 large language model, launched less than a month ago, has already generated more revenue in the past 20 days than its total 2025 income, driven by global paid users and API usage, with overseas revenue now exceeding domestic.
During the Spring Festival, Moutai liquor faced supply shortages in multiple markets, while beverage chain CHABAIDAO reported a 4,500% sales increase at some scenic spot locations. Group orders (5+ cups) were 1.5 times higher than usual, with Chongqing, Chengdu, Shanghai, Beijing, and Hangzhou being top-performing cities.
Guofu Hydrogen Energy won a 3.2 million yuan contract to supply an 80K cold box to the Chinese Academy of Sciences' Institute of Plasma Physics, supporting key cryogenic systems for national nuclear fusion research.
51WORLD announced its SimOne 4.0 intelligent driving and robotics simulation platform has been fully adapted and optimized for Moore Thread's MTT S5000 GPU, enabling end-to-end autonomous driving solutions and supporting domestic full-stack simulation and synthetic data generation.
CHINA QINFA issued a profit warning, expecting a net loss of no more than 98 million yuan for 2025, compared to a net profit of approximately 556 million yuan in 2024.
TONGGUAN GOLD projected a substantial increase in profit attributable to owners for 2025, estimated between HK$8.2 billion and HK$8.4 billion, up 289% to 298% year-over-year. After adjusting for non-operating expenses related to financial instruments, adjusted profit is expected to reach HK$8.75 billion to HK$8.95 billion, a 315% to 324% increase, driven by higher production, sales, and average selling prices of mined gold.
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