The General Office of the Communist Party of China Central Committee and the General Office of the State Council have issued guidelines to advance energy conservation and carbon reduction at a higher level and quality. The document emphasizes promoting energy-saving and low-carbon initiatives in transportation. It calls for vigorous development of railway and waterway transport, continuous improvement of road transport efficiency and green standards, enhanced efficiency in civil aviation traffic management, and active development of multimodal transport. The guidelines also stress ongoing construction of green transportation infrastructure, upgrading the green and smart capabilities of transport hubs and expressways, and improving networks for charging stations, shore power, and other facilities. The plan includes building zero-carbon transport corridors and promoting energy-efficient, low-carbon vehicles. It proposes reasonable optimization of vehicle energy consumption limits, active development of electric (hydrogen-powered) heavy trucks and green fuel ships, and support for clean, low-carbon fuel blending and substitution. Relevant Hong Kong-listed stocks include Weichai Power (02338), China National Heavy Duty Truck (03808), CIMC Enric (03899), Guofu Hydrogen Energy (02582), and Jingcheng Machinery & Electric (00187).
In market outlook, the Nasdaq Golden Dragon China Index fell 0.05%. Overnight, the Dow Jones Industrial Average rose 340.65 points, or 0.69%, to close at 49,490.03. The S&P 500 gained 73.89 points, or 1.05%, to end at 7,137.9. The Nasdaq Composite increased by 397.61 points, or 1.64%, to settle at 24,657.57. Popular tech stocks generally advanced, with Arm up over 12%, AMD rising more than 6%, and several memory-related stocks hitting record highs, including Micron Technology and SanDisk, both up over 8%, and Seagate Technology gaining more than 3%. Hot Chinese concept stocks were mixed. Hong Kong Hang Seng Index ADRs rose proportionally, closing at 26,189.70, up 26.46 points or 0.10% from the Hong Kong market close. NYMEX WTI crude oil futures for the current month rose $3.20, or 3.57%, to $92.87 per barrel. COMEX gold futures for the current month increased by $38.70, or 0.82%, to $4,758.3 per ounce.
In key developments, the State Council guidelines also call for rational control of coal power capacity and generation, vigorous development of non-fossil energy and new energy storage, accelerated construction of new power systems, scientific layout of pumped storage, innovation in green power direct connection and smart microgrids, promotion of green power consumption, and ensuring new clean energy generation gradually meets new electricity demand. Efforts will focus on improving energy production efficiency, promoting efficient fossil energy extraction technologies, enhancing coal power energy-saving and carbon reduction upgrades, reasonably determining coal power dispatch order and peak-shaving depth, continuously improving wind and solar power efficiency and energy storage conversion rates, and steadily reducing comprehensive grid line loss rates.
Reports indicate that Tencent (00700) and Alibaba (09988) are in preliminary talks to invest in AI startup DeepSeek, with a potential valuation exceeding $20 billion. This marks DeepSeek's first external funding round since its establishment.
Changfei Optical Fiber (06869) announced that the controlling shareholder of its major shareholder, China Huaxin, has changed to China Digital Union Logistics. After the restructuring, China Huaxin becomes a wholly-owned subsidiary of China Digital Union Logistics but continues to directly hold 21.72% of the company's shares. The company remains without a controlling shareholder or actual controller, with no impact on control or operations.
CStone Pharmaceuticals-B (02616) issued 118 million new shares pursuant to a placing agreement dated April 14, 2026, under a general mandate on April 22, 2026.
Connet Optical (02276) signed a legally binding memorandum of cooperation with a globally leading technology company in the smart glasses sector. This designates Connet as the core lens supplier for the partner's flagship smart glasses products, marking a strategic breakthrough.
Dalipal Holdings (01921) subsidiary Dalipal International For Industry entered a strategic cooperation agreement with KUKA Robotics (Guangdong) Co., Ltd. on April 21, 2026. The collaboration focuses on introducing KUKA's AI smart robot technology to advance the intelligent manufacturing base construction for the Saudi project.
Hengrui Pharma (01276) reported first-quarter results, with revenue reaching RMB 8.141 billion, up 12.98% year-on-year. Net profit attributable to shareholders was RMB 2.282 billion, an increase of 21.78% compared to the same period last year. Basic earnings per share were RMB 0.34.
New Oriental-S (09901) announced third-quarter results, with net revenue rising 19.8% to $1.4173 billion. Operating profit increased 44.8% to $180.3 million. Net profit attributable to shareholders grew 45.3% to $126.8 million. For the first nine months ended February 28, 2026, net revenue was $4.1318 billion, up 13.0%, operating profit was $557.5 million, up 27.6%, and net profit attributable to shareholders was $413 million, an increase of 13.3%.
National Technology (02701) launched a dedicated master control MCU for optical modules, the N32H493, tailored for 800G/1.6T high-speed modules. This product breaks foreign monopolies and addresses core control chip shortages in high-speed optical modules, positioning the company to benefit from AI computing infrastructure trends.
JL MAG Rare-Earth (06680) reported preliminary first-quarter results, with revenue of RMB 2.036 billion, up 16.05% year-on-year. Net profit attributable to shareholders was RMB 193 million, an increase of 20.09%, and adjusted net profit rose 65.95% to RMB 176 million.
In individual stock highlights, H&H International Holdings (01112) reported first-quarter total revenue of RMB 4.26 billion, up 34.4% on a reported basis. All business segments maintained positive growth momentum, with particularly strong performance in adult nutrition and care products, as well as infant nutrition and care products, reflecting seasonal Lunar New Year effects and temporary surges in demand for Biostime infant formula due to industry developments.
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