1. The Ministry of Commerce held an expanded party group meeting in Beijing on December 20, emphasizing efforts to boost consumption, expand high-quality goods and services, and unleash the potential of service consumption.
2. Researchers at Shanghai Jiao Tong University have made a breakthrough in next-gen optical computing chips, achieving the first all-optical computing chip supporting large-scale semantic media generation models. The findings were published in *Science* on December 19.
3. The Cyberspace Administration of China (CAC) and the China Securities Regulatory Commission (CSRC) have intensified efforts to combat online misinformation related to capital markets, cracking down on accounts spreading rumors and illegal stock recommendations. The CAC warned that spreading false information disrupts market stability and will face legal consequences.
4. The National Development and Reform Commission, State Administration for Market Regulation, and CAC jointly issued the *Internet Platform Pricing Behavior Rules*, prohibiting platforms from forcing merchants to lower prices or engage in promotions through discounts or rebates.
5. Moore Threads unveiled its next-gen GPU architecture "Huagang" on December 20, featuring a new instruction set, 50% higher computing density, 10x energy efficiency gains, and support for AI clusters exceeding 100,000 cards.
6. Alibaba’s DingTalk has initiated a secret project codenamed "Plan D," potentially involving AI hardware development.
7. The People’s Bank of China’s Fujian branch released a financial support plan for tech innovation and strategic emerging industries, continuing the "Tech Revitalizes Fujian" initiative.
8. The Guangzhou Futures Exchange announced position limits for lithium carbonate futures contracts, effective December 23, capping daily open positions at 800 lots for LC2602-LC2605 and 2,000 lots for LC2606-LC2612.
9. Commerce Minister Wang Wentao met with AMD Chair and CEO Lisa Su on December 18 to discuss the company’s China operations and cooperation.
10. The PBOC issued the *Financial Institution Beneficial Ownership Identification Rules*, effective January 20, 2026, requiring verification through reliable supporting materials.
11. China Shenhua Energy announced a RMB133.598 billion asset acquisition from parent company China Energy Group and subsidiary Western Energy.
12. Guizhou Bailing (002424) and Funeng Oriental (300173) will be labeled "ST" due to false financial disclosures in annual reports.
13. Key corporate updates: - Zhongyuan Nei Power’s subsidiary signed a humanoid robot cooperation framework with Ningbo Puzhi. - Jifeng Auto secured a RMB9.8 billion auto seat project. - Shenzhen Chengxin Lithium Group secured a 200,000-ton lithium supply deal with CALB (2026-2030).
14. Supezet (688121) and its controller are under investigation for disclosure violations.
15. Qingdao Port plans RMB15.7 billion investments in two port projects, while Jinggong Technology will invest RMB426 million in smart manufacturing for aerospace and humanoid robot components.
16. Yangtze Optical Fiber stated its new data center-related fiber products account for a small market share.
17. Notable trading halts/resumptions: - Discovery Dream Science (301213) halted for asset acquisition planning. - *ST Dongyi’s restructuring plan approved by court. - Bohai Chemical (600800) and Oriental Intelligence (002175) resumed trading.
18. Yongding Group terminated its减持 plan early, having sold 18.967 million shares with 24.8927 million remaining.
19. Yuexin Semiconductor’s创业板 IPO application was accepted, targeting RMB7.5 billion financing.
20. Guokong Military-Civilian Integration confirmed cooperation with Lingkong Tianxing on solid rocket engine tech.
21. MiniMax and Beijing ZhiPu HuaZhang passed HKEX hearings for IPOs.
22. Biren Tech announced plans to issue 247+ million shares in its HK IPO, priced up to HK$19.6, with trading expected to start on January 2, 2026.
23. U.S. markets rose Friday: Dow +0.38%, Nasdaq +1.31%, S&P 500 +0.88%. Tech stocks led gains—Oracle, Micron, AMD up >6%; Nvidia +4%, Broadcom +3%.
24. Former U.S. President Trump announced drug pricing agreements with nine pharma companies, offering tariff relief in exchange for lower medication costs.
**Trading Halts/Resumptions** - Halted: Tianshi Fashion (603608), Guizhou Bailing (002424), Funeng Oriental (300173), *ST Weihai (002596), Tianpu (605255), Discovery Dream Science (301213). - Resumed: Bohai Chemical (600800), China Hi-Tech (600730), Oriental Intelligence (002175), *ST Mingjia (300506).
**Key Announcements** - Discovery Dream Science halted for asset acquisition planning (≤10 trading days). - *ST Dongyi’s restructuring approved; execution phase begins. - Shengtong Energy warned of correction risks after 6 straight limit-ups (+77.22%). - Shangfeng Cement’s investee Yuexin Semiconductor’s创业板 IPO filed (indirect 1.4957% stake). - Jindalai to invest RMB30 million in medical robot firm Zhongke Hongtai (10% stake). - LianChuang Electronics extended halt for potential control change. - Healthgen’s NS-041片 approved for depression trials (dual epilepsy/depression targeting). - Xihua Tech to list on SSE主板 December 23 (100 million shares). - *ST Mingjia resumed post 730 million share capital increase (reference price: RMB3.16).
**Shareholder Actions** - Kairuide: Nonggu Group plans ≤3%减持. - Delinhai: Vice Chair Ma Jianhua to sell ≤196,000 shares. - Zhongchuang Zhiling: Chair and VPs plan减持. - Mercury Home Textile: Controller-affiliated parties to sell ≤1.72%.
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