Pre-market highlights: China announced five countermeasures against the US on August 5, impacting sectors like drones, printing equipment, third-party testing certification, and applied DNA science. Analysts suggest these measures signal a critical push for self-reliance in key technologies, infrastructure, and supply chain links. The direction is clear: strategic control must be secured domestically.
SpaceX shares tumbled 13.6% after releasing its first post-IPO earnings report. Investor concerns over the company's ability to sustain massive spending on artificial intelligence investments dragged down the broader tech sector, ending the Nasdaq's winning streak.
Memory chip giants SanDisk and Western Digital both reported quarterly results. SanDisk's fiscal Q4 2026 revenue hit $8.96 billion, a 372% year-over-year surge, while Western Digital's Q4 2026 revenue reached $3.75 billion, up 44% annually. Despite the strong numbers, both stocks fell in after-hours trading, with SanDisk dropping over 5% and Western Digital plunging more than 11%.
Investment Calendar
China International Animation Industry Expo.
Investment Wisdom
"The important thing is to build the ark, not to predict the rain." 鈥?Warren Buffett, investor, entrepreneur, and philanthropist.
Institutional Views
Zhongtai Securities believes the market will remain in a consolidation and bottoming phase until mid-August, with the key swing factor still being the global AI cycle. Bank of China International Securities notes that a temporary shift toward balance does not equal a style rotation, and the tech growth theme remains the dominant trend for the year. Orient Securities recommends positioning around recovery and growth, highlighting the AI supply chain and domestic semiconductor equipment as core themes.
Positive & Negative Outlook
Spot gold broke through $4,200 per ounce. CITIC Securities says gold remains in a major bull market, driven by accelerating US fiscal deficits, deepening geopolitical rifts under deglobalization, and sustained central bank buying. Current pullbacks have approached historical extremes, and the $4,000 level likely represents a bottom for this cycle.
ChangXin Memory Technologies (CXMT) has refused to yield to Apple's price pressure, insisting on pricing no lower than Samsung and SK Hynix. Southwest Securities notes that high-end HBM memory chips face long cleanroom construction periods and yield ramp-up challenges, keeping short-term supply tight. With demand exploding under rigid supply constraints, CFM Flash Market expects overall memory prices to continue rising in 2026.
Unitree Technology will hold its IPO online roadshow on August 7. China Securities points out that Google DeepMind's new robot model continues to improve robotic "brain" capabilities, potentially accelerating deployment in end scenarios. Unitree's IPO pricing date is approaching, Tesla's Optimus is moving toward mass production, and supply chain feedback has been positive, creating multiple catalysts for the sector.
Announcement Highlights
Positive Announcements
1. China Merchants Energy Shipping plans to build five Aframax oil tankers with a total value of approximately 2.485 billion yuan.
2. BeiGene reported a first-half net profit of 3.271 billion yuan, up 627% year-over-year.
3. Sinocera reported a 9.36% increase in first-half net profit and proposed a dividend of 0.5 yuan per 10 shares.
Negative Announcements
1. Muyuan Foods reported July commercial hog sales revenue of 8.897 billion yuan, down 23.56% year-over-year.
2. Wuxi Rural Commercial Bank shareholders plan to collectively reduce their holdings by no more than 1.96% of the company's shares.
3. Sino-Agri Leading Biosciences shareholders plan to cut their holdings by no more than 2% of the company.
Overseas Markets
Note: Post-earnings plunges in SpaceX and AMD dragged the Nasdaq lower, while the Dow hit another record high. On the session, SpaceX fell over 13%, wiping out $225 billion in market cap; AMD dropped over 7%; Google declined over 4%; Nvidia rose over 3% for its fifth consecutive daily gain, hitting its highest level since early June. The Nasdaq Golden Dragon China Index closed lower, with most popular Chinese ADRs declining.
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