China's General Office of the Communist Party of China Central Committee and the General Office of the State Council have jointly issued the "Comprehensive Evaluation and Assessment Measures for Carbon Peak and Carbon Neutrality." A relevant official from the National Development and Reform Commission stated in an interview that the "15th Five-Year Plan" period is crucial for achieving the carbon peak target. The measures establish an indicator system comprising five control indicators and nine supporting indicators. During the "15th Five-Year Plan" period, the National Development and Reform Commission, together with relevant departments, will formulate an action plan to ensure carbon peak is achieved by 2030. Targets include reducing carbon intensity by over 65% compared to 2005, increasing the share of non-fossil energy consumption to 25%, achieving peaks in coal and petroleum consumption, rationally controlling coal power capacity and generation, and striving for annual new clean energy generation to gradually cover新增 electricity demand.
The Nasdaq Golden Dragon China Index fell 2.47%. Overnight, the Dow Jones Industrial Average dropped 179.71 points, or 0.36%, to close at 49,310.32. The S&P 500 index declined 29.5 points, or 0.41%, to 7,108.4. The Nasdaq Composite Index decreased 219.07 points, or 0.89%, to 24,438.5. Major tech stocks were mostly lower, with Oracle down nearly 6%, Microsoft down nearly 4%, and Tesla falling over 3%. The semiconductor sector led gains, with Texas Instruments up over 19%, STMicroelectronics up over 10%, and ON Semiconductor up nearly 10%. Intel surged over 20% in after-hours trading. ARM and AMD followed with gains of about 6%. Rare earth concepts, application software, and cryptocurrency concepts led the declines, with Salesforce down over 8% and Robinhood down over 5%. Most popular Chinese stocks declined. The Hang Seng Index ADR fell 94.84 points, or 0.37%, proportionally calculated to 25,820.36 points. NYMEX WTI crude oil futures for the current month rose $4.04, or 4.35%, to $97.0 per barrel. COMEX gold futures for the current month fell $44.40, or 0.93%, to $4,708.6 per ounce.
Former US President Donald Trump stated on social media that the US has "full control over the Strait of Hormuz." He said the strait would be "tightly sealed" until an agreement is reached with Iran, and no vessel could pass without US approval. International traders believe Federal Reserve policy is largely locked in. The upcoming meeting may be Jerome Powell's last as Fed Chair. Rate futures indicate only a 15% chance of a change to the current 3.5%-3.75% rate setting by the end of September, and a 30% chance of a hike or cut by year-end. Bets for 2026 lean towards further rate cuts rather than hikes, though some analysts expect the Fed may provide more neutral guidance at next week's April meeting.
CATL announced that major shareholder Ningbo Lianchuang reduced its stake to 4.96% via a block trade, selling 58 million shares at 410.34 yuan per share, totaling 23.8 billion yuan. Consequently, Ningbo Lianchuang is no longer a major shareholder. This change does not affect the controlling shareholder or actual controller and will not significantly impact corporate governance or operations. The buyers are restricted from transferring the acquired shares for six months.
Tianjin Capital Environmental Protection (01065) reported Q1 revenue of 1.149 billion yuan, up 4.22% year-on-year. Net profit attributable to shareholders was 276 million yuan, an increase of 8.49%. Basic earnings per share were 0.176 yuan.
Wai Chi Holdings (01729) proposed to acquire the remaining 51% equity in Time Interconnect Singapore Pte. Ltd. for $12.7 million. Upon completion, the target will become a wholly-owned subsidiary. The target group's main clients are leading global automotive parts suppliers and it operates ten production facilities across several countries with a total floor area of approximately 291,000 square meters.
Dongyangguang Pharmaceutical (06887) presented three innovative drug candidates at the 2026 AACR Annual Meeting, showcasing its diversified pipeline in tumor immunotherapy and precision targeted therapy. The presentations featured a CDH17/4-1BB bispecific antibody, an oral Pan-RAS molecular glue inhibitor, and an oral small molecule PD-L1 inhibitor.
Ping An Healthcare and Technology Company (01833) reported Q1 revenue of 1.159 billion yuan, up 9.1% year-on-year. Adjusted net profit reached 84.4 million yuan, an increase of 45.8%, driven by deepened integration of healthcare and insurance services and rapid growth in corporate health management business.
Aluminum Corporation of China (02600) announced Q1 revenue of 58.494 billion yuan, up 4.85% year-on-year. Net profit attributable to shareholders was 5.527 billion yuan, a significant increase of 56.35%. Basic earnings per share were 0.323 yuan.
Innocare (09969) released its Q1 2026 report, recording revenue of 529 million yuan, up 38.65% year-on-year. Net profit attributable to shareholders was 106 million yuan, a substantial increase of 488.93%. Basic earnings per share were 0.06 yuan.
Kingboard Holdings (00148): The supply-demand tension for CCL is being directly driven by exploding AI computing demand, which boosts downstream PCB demand and subsequently increases CCL demand. Since April, leading CCL companies have issued multiple price increase notices, enhancing visibility for steady improvements in CCL profitability. Notably, affected by comprehensive price hikes in CCL and upstream materials, Taiwan Union Technology notified customers of CCL price increases effective April 25, with some product series rising 20% to 40%. Shanxi Securities noted that the accelerated penetration of AI server applications is driving surging demand for upstream materials like electronic glass fabric and HVLP copper foil. Kingboard recently issued a notice increasing prices for all laminate and prepreg materials by 10%. Other high-end CCL suppliers have also communicated price increases. The brokerage believes the AI-driven super cycle has strong sustainability, expecting high growth for the next 3-5 years, providing sustained robust demand for high-end CCL. The tight CCL supply-demand balance is anticipated to persist until at least 2027.
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