To The Moon

A summary of the top headlines from China's four major securities newspapers on Thursday, August 27, 2026, highlighting market trends, corporate earnings, and policy developments.

China Securities Journal

Leading A-Share Stock Plans Bonus Share Issue

On the evening of August 26, Unicom Instruments, the highest-priced stock on the A-share market, released its 2026 semi-annual report. The company achieved revenue of 1.531 billion yuan in the first half of the year, a year-on-year increase of 208.71%. Net profit attributable to shareholders of the listed company reached 567 million yuan, surging 903% year-on-year. The company plans to distribute 4.8 bonus shares for every 10 shares held to all shareholders, without paying a cash dividend or issuing stock dividends.

New Developments from the Strait of Hormuz

Citing a report from CCTV News, a spokesperson for Iran's Islamic Revolutionary Guard Corps stated on August 26 that the Strait of Hormuz belongs to Iran and Oman. Approximately one month ago, Iran and Oman began negotiations and reached an agreement acceptable to both parties. The spokesperson also indicated that if the U.S. does not accept the relevant conditions, the strait will not be opened.

Social Security Fund Significantly Increases Stakes

As the disclosure period for listed companies' 2026 interim reports draws to a close, the heavy stock positions of the Social Security Fund at the end of the first half and its shareholding changes in the second quarter have surfaced. Wind data shows that as of August 25, over 3,100 A-share listed companies had disclosed their 2026 interim reports. Among them, the Social Security Fund appeared in the top ten circulating shareholder lists of 254 companies. Specifically, in the second quarter, the fund newly entered the top ten circulating shareholders of 73 stocks and increased its holdings in 76 stocks compared to the end of the first quarter.

The $40 Trillion U.S. Debt "Shockwave": Will the Tech Stock Rally End?

Recent market movements have seen tech stocks fluctuate while gold prices rise, two seemingly divergent asset classes linked by a common thread: U.S. Treasuries. The yield on the 30-year U.S. Treasury bond has risen to as high as 5.31%, its highest level since June 2007. With U.S. debt surpassing $40 trillion, Treasury yields have become the "elephant in the room" that markets cannot ignore. Questions arise: Will this end the global tech stock rally? Can gold serve as a safe haven against dollar credit risk? Is the logic of global asset allocation changing?

Shanghai Securities News

Scan of 781 ChiNext Interim Reports: Over 70% Profitable, AI Industry Chain Remains Highly Prosperous

More than half of the ChiNext board companies have disclosed their 2026 semi-annual reports. Overall, these companies have demonstrated rapid revenue growth, enhanced profitability, continued leadership by major players, and notable industry highlights. Statistics show that as of the morning of August 26, 2026, 781 out of 1,403 ChiNext companies had released their interim reports. Their combined revenue reached 1.61 trillion yuan, up 24.04% year-on-year. Aggregate net profit attributable to shareholders reached 148.535 billion yuan, a 43.27% increase, while non-recurring gains and losses deducted net profit totaled 130.177 billion yuan, up 43.90%.

Cement Industry Faces Weak Demand and Price Downturn: Prospects for "Golden September"

The cement industry saw a lackluster first half with declining demand, falling prices, and a turn to losses. Data indicates that national cement output in the first half totaled 736 million tons, an 8% decrease year-on-year. The industry is estimated to have incurred losses of 2 billion to 3 billion yuan in the first half, with a loss ratio of about 60%. Amid overall industry pressure, overseas expansion has become a key strategy for many companies. Overseas production capacity is gradually entering a period of performance realization, turning overseas business into a second growth curve. Companies like Huaxin New Materials have achieved solid performance results.

Shanghai Unveils "15th Five-Year Plan" for Strategic Emerging Industries

On August 26, Shanghai released the "15th Five-Year Plan for the Development of Strategic Emerging Industries in Shanghai." During the 2026-2030 period, Shanghai will focus on enhancing the strategic leadership of three leading industries, strengthening 12 sub-tracks of emerging pillar industries, and making forward-looking arrangements for 10 future frontier technologies. The plan also includes cultivating 8 new service business models and formats to build a strategically important emerging industry cluster with international influence.

U.S. Treasury Intervention's Repercussions: Dollar Index Hovers Near 3-Month Low

Analysts from China Merchants Bank's financial markets department suggest that the market is beginning to reassess U.S. fiscal and Treasury market stability, leading to marginal changes in the dollar's pricing logic. Previously, rising Treasury yields typically stemmed from a strong economy, higher real rates, and a hawkish Fed, which widened U.S. interest rate advantages and supported the dollar. However, if rising yields are more driven by concerns over fiscal sustainability and decreased market stability boosting term premiums, then higher Treasury yields could actually become a negative factor for the dollar.

Securities Times

Shanghai's Strategic Emerging Industries Plan Targets 2.1 Trillion Yuan Added Value by 2030

The General Office of the Shanghai Municipal People's Government issued the "15th Five-Year Plan for the Development of Strategic Emerging Industries in Shanghai" on August 26. According to the plan, by 2030, the added value of strategic emerging industries in Shanghai will reach 2.1 trillion yuan. The total output value of industrial strategic emerging industries will account for over 50% of the total output value of industries above designated size, and the average annual growth rate of the three leading industries' manufacturing sector will exceed 10%. The plan also emphasizes strengthening forward-looking layout and comprehensively enhancing the capabilities of the integrated circuit industry.

Gold Takes the Lead as U.S. Debt Volatility Lifts Long-Term Price Levels

Gold prices have been rising, with the pace accelerating since mid-August. Spot gold in London has once again surpassed the $4,600 mark. Influenced by the 30-year U.S. Treasury yield hitting its highest level since 2007 and the U.S. Treasury Department's intervention in the bond market, concerns over dollar creditworthiness are escalating. As a credit hedge tool, gold is gaining attention from market funds, and its monetary attributes are undergoing a value reassessment.

Observation: Rewarding Shareholders and Reshaping the Ecosystem, Dividends Becoming an A-Share Pricing Anchor

As the A-share interim report season concludes, interim dividends are also being accelerated. Wind data shows that as of August 25, 448 A-share listed companies had announced interim dividends this year, with a total payout exceeding 230 billion yuan. These interim dividends are characterized by broad coverage, significant amounts, and leadership from major companies. Operators, insurance, petrochemicals, nonferrous resources, and brokerages are the main dividend payers, with industry leaders like CATL and Hikvision following suit. Large dividend payouts are highly concentrated among central and state-owned enterprises and industry leaders with strong cash flows. For instance, China Mobile, Ping An Insurance, China Telecom, and Zijin Mining each had total dividend payouts exceeding 10 billion yuan.

5 Trillion Yuan Investment Set for Dense Construction Period

The "15th Five-Year Plan for Urban Renewal" proposes building and renovating approximately 770,000 kilometers of urban underground pipelines during the 2026-2030 period, with a total investment of about 5 trillion yuan. Hanjia Shuzhi Chairman Ye Jun stated in an interview that the period of peak construction intensity and capital deployment is expected to occur between 2028 and 2029, bringing business growth opportunities for companies across multiple segments.

Securities Daily

"Black Tech" Behind the Second World Humanoid Robot Games: Dual Network Integration and Collaborative Intelligence

The second World Humanoid Robot Games concluded on August 26. During the event, humanoid robots displayed agile reactions and smooth movements, with spectators capturing and live-streaming the action. Reports from the event indicate that even in a stadium with thousands of attendees, live streams remained clear and smooth without noticeable lag. Behind this seamless viewing experience and robot performance are multiple "black tech" innovations in communication and artificial intelligence.

Silicone Market Sees Cyclical Reversal, Industry Profitability Recovers

As a key chemical new material, silicone is widely used in construction, photovoltaics, energy storage, new energy vehicles, and electronic semiconductors. After two years of industry winter marked by overcapacity and deeply depressed prices, the silicone market experienced a cyclical reversal in the first half of 2026. Industry profitability continues to recover, and corporate performance has improved significantly.

Humanoid Robots' "Speed Show" is More Than Just Speed

The second World Humanoid Robot Games were held recently in Beijing, with 2,056 robots from 666 teams across 16 countries competing. During the events, humanoid robots developed by Chinese companies broke human world records in the 100m, 400m, and 1500m races, sparking market discussion. This is not just a contest across species but a public demonstration of China's hard power in future industries, opening up more possibilities for the commercial application of humanoid robots.

A-Share Listed Paper Companies Show Mixed Interim Results

Data shows that as of the evening of August 25, 16 A-share listed paper companies had disclosed their first-half results. Overall, the industry is recovering, but structural divergence is evident: packaging paper companies generally saw profit recovery, while cultural paper companies are still bottoming out. Among them, Shandong Sun Paper reported first-half revenue of 20.862 billion yuan, a 9.15% increase year-on-year, and net profit attributable to shareholders of 1.951 billion yuan, up 9.6%, temporarily ranking first in the industry.