A wave of positive news emerged on the evening of January 15, as numerous A-share companies released their 2025 annual performance forecasts, with many indicating strong results. Preliminary data reveals that a significant number of enterprises are projecting substantial net profit growth. Notably, SAIC Motor announced the highest year-on-year increase at 558%, while companies like Sirnaomics and Zhenghai Magnetic Materials forecasted growth exceeding 200%. This trend reflects both a recovery in certain sector conditions and the positive outcomes of corporate efforts to enhance quality and efficiency. The drivers behind this performance improvement are diverse, encompassing factors such as the commissioning and scaling of new projects, increases in product sales volume and prices, successful market expansion, and adjustments to prior-year base figures.
Jiamei Packaging, a stock that has doubled in value, announced plans for an early redemption of its convertible bonds, urging investors to be aware of the associated risks. In a January 15 evening announcement, the company stated that its stock price had met or exceeded 130% of the current conversion price of the "Jiamei Convertible Bonds" for 15 out of 30 consecutive trading days from December 19, 2025, to January 15, 2026, thereby triggering the redemption clause. The board of directors decided to exercise the right of early redemption, planning to redeem all unconverted bonds at their face value plus accrued interest after the close of the redemption record date, and authorized the management to handle all subsequent redemption matters.
Trading suspensions for two popular stocks have concluded, with both resuming trading today. On January 15, *ST Chengchang and Zhte New Materials separately issued announcements regarding the resumption of trading. Both companies had suspended trading due to recent abnormal stock price volatility. With the verification work now fully completed, their shares are set to resume trading at the market open on Friday, January 16.
A delisting warning has been triggered as a stock price fell below 1 yuan. On January 15, *ST Aowei announced that its closing stock price for the day was 0.99 yuan per share. Should the company's stock close below 1 yuan for 20 consecutive trading days, it faces termination of its listing on the Shenzhen Stock Exchange. Additionally, as of January 15, 2026, the company's total market capitalization has remained below 5 billion yuan for 10 consecutive trading days. If this condition persists for 20 consecutive trading days, the stock will also be subject to delisting by the exchange.
The People's Bank of China (PBOC) started the year by delivering a substantial package of monetary and financial policies to support the real economy, with four specific measures taking effect last night. Analysts suggest there remains room for further reserve requirement ratio (RRR) cuts and interest rate reductions within the year. At a press conference held by the State Council Information Office on January 15, officials from the PBOC and the State Administration of Foreign Exchange outlined the effectiveness of monetary and financial policies in supporting high-quality economic development. The conference announced a batch of policies to be implemented early in the year, comprising eight specific measures, including lowering interest rates on structural monetary policy tools and reducing the minimum down payment ratio for commercial property loans.
The National Financial Regulatory Administration (NFRA) has outlined its key tasks for 2026, emphasizing the forceful, orderly, and effective resolution of risks associated with small and medium-sized financial institutions. On January 15, the NFRA convened its 2026 regulatory work conference to systematically review the work of 2025 and coordinate arrangements for the key tasks of 2026. Marking the beginning of the 15th Five-Year Plan period, the conference stressed the importance of proactively addressing existing risks, resolutely curbing the emergence of new risks, and firmly holding the bottom line to prevent "explosive" incidents. It also highlighted efforts to normalize the urban real estate financing coordination mechanism, support the development of a new model for the real estate sector, legally and compliantly assist in resolving local government financing vehicle debt risks, and strictly prevent, crack down on, and punish illegal financial activities.
Financial data for 2025 has been released, showing high growth in aggregate financing to the real economy (AFRE) and M2 money supply, alongside a significant rise in the proportion of direct financing. Data released by the PBOC on January 15 indicated that, based on preliminary statistics, the outstanding AFRE reached 442.12 trillion yuan by the end of 2025, a year-on-year increase of 8.3%. The outstanding balance of RMB loans stood at 271.91 trillion yuan, up 6.4% year-on-year, while the broad money supply (M2) balance was 340.29 trillion yuan, growing 8.5% compared to the previous year.
State Grid Corporation of China has announced plans to increase its investment during the 15th Five-Year Plan period to 4 trillion yuan, with ultra-high voltage projects remaining a key focus area. In a statement released on January 15, State Grid revealed that its fixed-asset investments during the "15th Five-Year Plan" period are projected to reach 4 trillion yuan, a 40% increase compared to the "14th Five-Year Plan" period. This initiative aims to drive high-quality development across the new power system industrial and supply chains by expanding effective investment. Energy industry experts and analysts specializing in power equipment and new energy sectors suggest that State Grid's 4 trillion yuan investment, combined with the investment scale of China Southern Power Grid, implies that average annual grid investment nationwide during the "15th Five-Year Plan" could exceed 1 trillion yuan. Ultra-high voltage projects are expected to remain a primary investment focus. Given the structural shortage of grid equipment globally leading companies in the sector are poised for significant growth in both domestic and international markets over the coming years.
The People's Bank of China has launched a "combination punch" of policy optimizations, introducing eight measures to bolster economic support. To continue implementing an appropriately accommodative monetary policy, the PBOC commenced 2026 with a suite of adjustments to its structural monetary policy tools. At a State Council Information Office press conference on January 15, the central bank announced that, effective January 19, it would lower interest rates on various structural monetary policy tools by 0.25 percentage points, while also refining these tools and enhancing their support intensity.
Deutsche Bank's Xiong Yi suggests that China's pace of catching up in the artificial intelligence race has exceeded expectations. As the first year of the "15th Five-Year Plan" unfolds, assessing China's long-term and short-term economic trends and structural changes has become a key focus for many macroeconomists. In an interview, Xiong Yi, Chief Economist for Greater China at Deutsche Bank, noted that, from a supply-side perspective, international perceptions of China's innovation capability and competitiveness within the global trade system have shifted over the past year.
Securities companies' asset management arms are facing a major transformation test, seeking breakthroughs through "fixed-income plus" strategies and alternative assets. Two significant industry developments in recent years have profoundly reshaped the business landscape for securities asset management: the conclusion of the transformation of participating large-collection products by the end of 2025, and the obstacles encountered in applying for public fund licenses. Amid the growing pains of these traditional business changes, securities asset managers are under pressure to accelerate their transformation and identify new growth drivers.
The coverage of enterprise annuities is set to expand, allowing employees to benefit from tax deferral policies. On January 15, the Ministry of Human Resources and Social Security and the Ministry of Finance jointly issued the "Opinions on Further Improving Enterprise Annuity Work." The document aims to enhance the inclusiveness and flexibility of the enterprise annuity system through measures such as expanding coverage, simplifying establishment procedures, and optimizing contribution mechanisms, thereby enabling more employees to share the benefits of supplementary pension security.
The People's Bank of China will introduce eight measures to enhance support through its structural monetary policy tools. At a press conference held by the State Council Information Office on January 15 to discuss the effectiveness of monetary and financial policies in supporting high-quality real economy development, PBOC Deputy Governor Zou Lan stated that, based on current economic and financial conditions, the central bank will first launch policy measures in two key areas. The first involves lowering interest rates on various structural monetary policy tools to boost banks' enthusiasm for lending in critical sectors. The second focuses on refining these structural tools and increasing support to further facilitate economic structural transformation and optimization.
The Qwen App has been fully integrated into Alibaba's ecosystem of services. On January 15, Alibaba Group Holding Limited announced the full integration of its Qwen App with core business platforms within the Alibaba ecosystem, including Taobao, Alipay, and Taobao Flash Sales. This integration enables AI-powered functions such as ordering food delivery, shopping, and booking flight tickets, and the app is now open for testing to all users. This upgrade introduces over 400 AI-powered task functionalities, transforming the Qwen App into an AI assistant capable of handling complex real-life tasks and leading the AI industry's transition from a "chat and conversation" era to an "action and task" era.
SF Holding and J&T Express Group have reached a strategic cross-shareholding agreement. On January 15, SF Holding Co., Ltd. and J&T Express Global Limited jointly announced that they have entered into a strategic cross-shareholding agreement. The agreement involves a mutual issuance of new shares to each other, with the total investment value of the transaction nearing HKD 8.3 billion.
Multiple regions are actively promoting the upgrade of their cross-border e-commerce industries. Since the beginning of 2026, cross-border e-commerce has become a focal point in the economic work deployments of various local authorities. On January 13, the General Office of the Hunan Provincial Government released measures aimed at achieving a stable economic start in the first quarter of 2026, which included strengthening the construction of comprehensive cross-border e-commerce pilot zones. On January 12, the Yunnan Provincial Department of Commerce publicized a list of companies proposed for support in the third batch of cross-border e-commerce projects. On January 9, the Henan Provincial Department of Commerce released the second batch of its "Source Factory" directory for cross-border e-commerce industrial belts. On January 7, the Shanxi Provincial Department of Commerce announced the selection results for third-party service agencies for its cross-border e-commerce data aggregation and governance project.
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