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Iranian delegation suspends Iran-US talks in protest against Trump's threatening remarks.
On the same day, Trump warned on social media that Iran must immediately cease its "proxy" actions in Lebanon, or the US would launch strikes against Iran again, "and more fiercely."
According to Iranian media reports, the Iranian delegation protested the above remarks to the US side, left the venue, and suspended the talks that had been ongoing for 80 minutes, turning to internal consultations. The report stated that Iran is formulating an appropriate response plan.
Simultaneously, the head of the Iranian delegation, Speaker of the Iranian Parliament Mohammad Bagher Ghalibaf, posted on social media, "They had better watch their words, our armed forces are ready to respond to them in different ways."
Regarding this incident, Lebanon's "Al-Mayadeen" TV reported that Iran's response is clear: the Iranian delegation will not return to the negotiating table unless Trump apologizes for his threatening remarks and Israeli forces withdraw from southern Lebanon.
Latest on US-Iran Negotiations
At 7:00 AM on June 22, negotiations were suspended. International oil prices surged nearly 3%, gold fell below $4150, and US stock index futures collectively declined.
At 7:30 AM on June 22, US officials stated that US-Iran negotiations are expected to continue late into the night.
Behemoth IPO Arrives
A new energy giant is here! According to the schedule, China Resources New Energy Holdings Company Limited will commence its subscription on June 22, with the subscription code "001248". The company's issue price is 10.11 yuan per share, with an online subscription上限 of 632,000 shares, requiring a top-tier subscription配深市市值 of 6.32 million yuan.
Data shows that China Resources New Energy Holdings Company Limited's IPO plans to raise 24.5 billion yuan, marking the largest IPO in the history of the Shenzhen Stock Exchange.
Seven Departments Jointly Issue Document on Computing Power Resource Opening
Seven departments, including the Ministry of Industry and Information Technology, recently jointly issued the "Action Plan for Promoting the Coordinated Development of Large, Medium, and Small Enterprises in the Platform Economy (2026-2028)".
In the field of computing power, the "Action Plan" proposes promoting the opening of computing power resources. It calls for in-depth implementation of the action plan for high-quality development of computing power infrastructure and computing power interconnection. Efforts will be made to open computing power resources, carry out work on computing power pooling and interconnection, guide platform enterprises to connect distributed computing resources and management platforms, and improve the efficiency of computing power resource allocation. The construction of a national integrated computing power monitoring and scheduling service platform will be advanced. The普惠 service capability of platform enterprises' tokens (Tokens) will be enhanced, and intelligent agent services will be optimized for the common needs of small and medium-sized enterprises to lower the barriers for their access and application.
Property Market Heats Up in Beijing, Shanghai, and Shenzhen
In Shanghai and Shenzhen, the new home sales market is also showing strong vitality. Reporters visiting Shanghai found that most new homes within the Middle Ring Road are selling well, with clients still viewing properties during holidays. Popular projects have no inventory concerns, and most developments are choosing to release units in small batches and multiple rounds. In Shenzhen, real estate agent Mr. Guo from Nanshan District told reporters that recent home viewing热度 has持续攀升, and new home transaction volumes have increased.
"Entering the second quarter, home improvement buyers have集中入市, significantly speeding up the pace of new home transactions," Gao Yuan, Dean of Beijing Lianjia Research Institute, told reporters. The commonality of popular new home projects lies in their updated product design, better贴合居住需求, and more competitive pricing compared to previous products.
Improvement demand is accelerating its entry into the market. Taking Beijing as an example, data from Beijing Lianjia Research shows that in May, Beijing's new commodity住宅成交 3,628 units, a year-on-year increase of 20%. Transactions of初步改善型住宅 priced between 5 million and 10 million yuan grew by about 40% year-on-year.
Will Billions in "Market Support" Funds Flow into A-Shares?
Listed companies are intensively launching share buybacks and增持 plans. Within the month, over 160 A-share companies have disclosed related plans, including leading companies like WuXi AppTec and Sinopec. Among them, WuXi AppTec disclosed a buyback report on June 9, with a total planned buyback amount of nearly 10 billion yuan, and swiftly completed a 1 billion yuan portion of it by June 11.
According to Wind data, calculated based on the lower limit of buyback amounts, the cumulative buyback amount of the above-mentioned hundred-plus companies exceeds 11 billion yuan. If calculated based on the upper limit, it is预计 to exceed 20 billion yuan.
Share增持 and buybacks are typically seen as positive news, and whether listed companies can fulfill their commitments is also closely watched. Reporters noted that in this wave of增持 and buybacks, many companies have high execution capabilities, implementing部分增持 simultaneously with disclosing their plans. Furthermore, some companies are employing a combination of "增持 + buyback" strategies.
Foreign Investment Giants Hold Mid-Year Outlook Meetings: AI Upgraded to Economic "Underlying Logic"
Recently, global asset management giants such as BlackRock, Fidelity International, and Invesco密集举办 2026 mid-year investment outlook meetings to研判下半年投资风向.
At these foreign investment giants' outlook meetings, AI unsurprisingly continued to占据议题核心, being widely regarded as the most certain structural investment opportunity in the current global market. Simultaneously, "China" also became a frequently mentioned keyword. With valuation advantages and巨大潜力 for商业化落地, the A-share AI sector is jointly positioned as a rare "value洼地" in the global technology race.
Apple's Product Explosion Over Next Two Years
According to MacRumors, tech journalist Mark Gurman recently revealed that Apple plans to launch about 20 new products from the second half of this year to 2027, covering multiple product lines including iPhone, Mac, iPad, Apple Watch, smart home, and AI wearable devices. Among them, the most anticipated new products in the second half of 2026 include the iPhone 18 Pro, iPhone 18 Pro Max, and Apple's first foldable phone, the iPhone Ultra.
Paired with iOS 27 optimized for foldable screens, the iPhone Ultra will also support multi-tasking functions similar to the iPad, such as app split-screen.
The iPhone 18 Pro series is expected to be equipped with the A20 Pro chip and feature a smaller Dynamic Island, a variable aperture lens, and Apple's self-developed C2基带.
US Chip Stocks Strengthen Again
After the US and Iran reached a memorandum of understanding on a ceasefire, market risk偏好明显回升. Following news that the Strait of Hormuz resumed commercial shipping, the three major US stock indices collectively closed higher, with the Nasdaq Index rising 1.91% and the Philadelphia Semiconductor Index surging 6.42%. Individual stock performances were even more亮眼. Intel rose over 10%, Micron Technology gained over 8%, while TSMC and Qualcomm both advanced over 6%. SanDisk surged over 11%, with its total market capitalization突破 $320 billion, and its year-to-date cumulative涨幅已经超过 800%.
Money Market Fund Yields Widespread Below 1%
Against the backdrop of widespread declines in money market fund yields, many funds have frequently triggered the "fee reduction" clauses in their contracts. Moreover, as yields fluctuate daily, the management fees of these products have exhibited "反复横跳" under the mechanisms stipulated in the contracts.
Notably, statistics show that the current全市场货基综合持有成本 is approaching 0.4%, with the high management fees of some products蚕食 investors'微薄收益. Multiple industry insiders and fund managers predict that受同业存单供需变化及政策利率下调等因素影响, money market fund yields maintaining a low base and窄幅波动 for a relatively long period may become the现实. Faced with the持续的低收益常态, industry fee reductions to benefit investors已成大势所趋.
Shareholders of 7 Semiconductor Stocks Reduce Holdings, Cashing Out Over 67 Billion
The emergence of this round of semiconductor减持 is directly related to the recent火热行情 in tech stocks. Since May, sectors like AI computing power, semiconductor equipment, and memory chips have轮番上涨, with many semiconductor牛股股价翻倍甚至上涨数倍, resulting in丰厚账面浮盈 for持股. Looking at the减持主体, there are产业资本 like the National Integrated Circuit Industry Investment Fund, as well as venture capital institutions, company executives, and concerted行动人等不同类型的股东,呈现多路资金集体兑现的特征.
Hong Kong to Launch 5-Year RMB Treasury Bond Futures
The Hong Kong Securities and Futures Commission recently announced it will soon launch上市交易 for 5-year RMB Treasury bond futures. Including this move by Hong Kong to推出人民币国债期货, multiple measures such as establishing境外央行类机构回购工具 and conducting离岸人民币外汇交易试点 are expected to become important支撑 for人民币国际化.
Reporters learned that both the People's Bank of China and the China Securities Regulatory Commission have expressed support for Hong Kong to正式推出 the 5-year RMB Treasury bond期货产品 in the near future. This move is conducive to further丰富国际投资者风险管理工具,提升人民币资产吸引力,巩固提升香港离岸人民币枢纽地位, and增强长期配置型投资者投资中国的意愿和信心.
Dong Ximiao, Chief Economist of Zhaolian, believes that in the context of global geopolitical tensions, RMB assets have already become an important option for non-US dollar asset配置. Data from the People's Bank of China Shanghai Headquarters shows that as of the end of May 2026,境外机构 held 2.00 trillion yuan of国债 in the interbank bond market, accounting for 62.3%. International investors have a旺盛 demand for interest rate风险管理工具.
Decarbonization Roadmaps Set for 9 Major Industries
The National Development and Reform Commission and other departments recently jointly issued the "Notice on Carrying out the Three-Year Action for Energy Conservation and Carbon Reduction Transformation in Key Industries." Focusing on nine industries including steel, electrolytic aluminum, cement, flat glass, oil refining, ethylene, synthetic ammonia, methanol, and coal-fired power, it aims to comprehensively implement energy conservation and carbon reduction transformation within 3 years and provides different decarbonization paths for each industry. Experts believe that in the next three years, energy conservation and carbon reduction transformation in these key industries will enter a stage of全面提速.
Featured Companies
GigaDevice's解禁股人均盈利 reaches 19.28 million yuan! This week, A-share解禁市值达 54.908 billion, testing multiple tech牛股.
Data shows that this week (June 22-26), 49 A-share companies will have restricted shares解禁, with a total解禁数量 of 2.763 billion shares. Based on the latest closing prices, the total解禁市值 reaches 54.908 billion yuan.
Among them, 15 companies have解禁市值 exceeding 1 billion yuan each, with a combined解禁市值 of approximately 48.593 billion yuan. Zhucheng Technology and Xinheng Hui have解禁市值 both exceeding 5 billion yuan, ranking at the top.
Four A-Share Companies Remove ST Designations
Four companies were suspended from trading for one day on June 18 and will resume trading on June 22 (today),同时 "摘星脱帽". Previously, all four companies had been subject to退市风险警示 due to触及财务类退市红线.
*ST Jinbi: From June 22, the退市风险警示 will be撤销, and the stock简称 will be变更为 "Jinfa Labe". *ST Jinbi (002762.SZ) announced that its shares will be suspended from trading for one day starting from the market open on June 18, 2026, and will撤销退市风险警示 and resume trading from the market open on June 22, 2026. The company's证券简称 will change from "*ST Jinbi" to "Jinfa Labe", with the证券代码 remaining "002762".
Gree's Major Shareholder Zhuhai Mingjun Reduces Holdings, Cashing Out Nearly 1.6 Billion Yuan
On June 21, Zhuhai Gree Electric Appliances Inc. of Zhuhai announced that the company received a "Notice on the Expiration of the Reduction Plan and the Results of the Reduction" from Zhuhai Mingjun on June 18, 2026. The announcement显示: On June 4, 2026, Zhuhai Mingjun reduced its holdings of 42,793,100 shares via大宗交易, with an average减持均价 of 37.13 yuan per share, representing 0.764% of the total share capital. Based on this calculation, Zhuhai Mingjun's减持共计套现 approximately 1.589 billion yuan from this reduction.
Sector Highlights
Despite亮眼成果,股价背离; over a hundred pharmaceutical companies掀起超百亿回购.
Copper foil market demand持续扩容;产业链上市公司积极布局.
AI glasses密集上新;行业迎来市场良机.
Active pharmaceutical ingredient industry陷周期低谷: some药企高管 have been on高强度出差 over the past 3 months,跑遍全球抢订单.
Market Strategy
Ten major institutions on the后市: the market有望重拾动力;科技成长结构性行情延续; focus on 3 major clues for the中报行情.
The AI-driven行情 this year is a "bottleneck trade" driven by massive infrastructure investment, more akin to the 2006-07 bull market driven by investment and heavy-asset companies rather than the internet bubble行情. Interest rate hikes are unlikely to affect the valuation of "AI类周期股" unless they truly impact AI's终端需求,商业化假设, and capital expenditure增速. Globally, the加息进程率先影响到的是需求增长相对偏弱的板块; the K-shaped divergence between AI and non-AI成立 globally. However, due to the simultaneous回归 of the强势美元叙事 and the market整体呈现存量资金调结构的格局, A-share non-AI cyclical sectors are明显更弱 compared to their overseas counterparts. Despite the same K-shaped divergence, the宽度 of the A-share行情相对海外有所不足. Changing the弱势 of non-AI sectors still requires their own narratives to see some positive changes in the future or a shift in资金面, rather than waiting for AI to调整.
Today's New Listings
New share提示: China Resources New Energy Holdings Company Limited and益坤电气 on the Beijing Stock Exchange commence subscription today.
Announcements Summary
Trading Halts
600777 *ST Xinchao
002217 Hetai
Trading Resumptions
000793 *ST Huawen
002762 Jinfa Labe
300159 Xin Yan Shares
002076 Xingguang Shares
300313 Tianshan Bio
Key Corporate Events
Kweichow Moutai: Plans to implement 2025年度权益分派, with the股权登记日为 June 25.
Great Star: Intends to acquire a 1.54% stake in MYbank for 325 million yuan.
Shenzhen Zowee Technology: Plans to purchase servers and supporting equipment in batches for a total not exceeding 4 billion yuan.
Xingye Technology: Signs framework agreement to acquire indium phosphide business-related assets.
Wus Printed Circuit: To absorb and merge wholly-owned subsidiary Pujiang Storage to统一规划产能扩建工作.
Zhongju Chemical: Company股价可能存在短期上涨过快出现的下跌风险.
Performance Review
China National Chemical Engineering: Contract amount for Jan-May reaches 153.102 billion yuan.
Shareholding Changes
Jingquanhua: Yuanzhi Gaoxin plans to减持公司不超3%股份.
Major Contracts
Qinglong Pipe Industry: Wins 557 million yuan PCCP pipe procurement project.
China International Engineering: Wholly-owned subsidiary signs 1.127 billion yuan energy storage station EPC contract.
Refinancing
Beijing Lier High-Temperature Materials: Adjusts private placement plan,拟募资额调减至不超1.025 billion yuan.
Zhongchao Holding: Again extends the validity period of the resolution for the 2023年度向特定对象发行股票.
Shandong Molong: Plans非公开发行不超200 million yuan corporate bonds.
Shijia Technology: Plans to定增募资不超403 million yuan for projects including new energy electrical precision enclosure & system integration.
Other Announcements
Boyun New Material: Commercial aerospace products暂未确认销售收入 in 2026.
Eastern Shenghong: 16 million tons/year盛虹炼化一体化项目装置 to undergo routine maintenance from end of June.
Huihuang Technology: Wholly-owned subsidiary拟参设合伙企业,后者专项投资三启万物.
Shunna Shares: Zhang Yijun resigns as Chairman and General Manager.
Jilin Chemical Fiber: Receives 9.55 million yuan government subsidy.
Zhongguancun: Succinate Metoprolol Sustained-Release Capsules上市许可申请获受理.
Fengjing Shares: First-phase 2GWh project for new titanium酸锂电池项目已全面建设完成.
ST Bailing: Products including护肝片中选全国中成药采购联盟集中带量采购.
Yifan Pharmaceutical:强力枇杷露中选全国中成药采购联盟集中采购.
Gaozheng Minbao: Obtains special loan commitment letter for share buybacks not exceeding 180 million yuan.
Demeter Chemical: Subsidiary拟750万美元出售境外三处土地资产.
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