To The Moon

Today's Focus

1. CATL: Repurchased 697,800 shares on October 8, paying 200 million yuan. CATL announced that on October 8, 2026, it repurchased 697,800 shares through the Shenzhen Stock Exchange at a price range of 285.19 yuan to 287.21 yuan per share, with a total payment of 200 million yuan. The repurchased shares are intended to be cancelled. As of September 30, 2026, the company had cumulatively repurchased 10,945,162 A-share shares through the Shenzhen Stock Exchange trading system via centralized bidding, accounting for 0.2482% of the company's current total A-share capital. The highest transaction price was 331.61 yuan per share, the lowest was 286.53 yuan per share, and the total transaction amount was 3,303,155,138.38 yuan (excluding transaction fees).

2. Dongyue Silicon Material: Expected net profit growth of 19,050%-19,750% year-on-year in the first three quarters, driven by rising prices of main products. Dongyue Silicon Material announced that it expects net profit attributable to shareholders of the listed company to be 547 million yuan to 567 million yuan in the first three quarters of 2026, representing a year-on-year increase of 19,050%-19,750%. In the first three quarters of 2026, affected by improvements in the market environment and industry supply-demand dynamics, the prices of the company's main products increased. On the raw material side, the procurement price of industrial silicon declined year-on-year, while prices of methanol and methyl chloride rose year-on-year, leading to an overall decrease in unit production costs and an improvement in the comprehensive gross margin. Meanwhile, the company continued to advance refined management and safety controls, ensuring stable production operations, effectively controlling production costs, and further enhancing profitability. In the third quarter of 2025, due to the "July 20" fire accident, the company incurred a loss of 39.3374 million yuan in that period, resulting in a net profit attributable to shareholders of the listed company of only 2.8567 million yuan for the first three quarters, making the current period's profit indicators not comparable to the same period last year. During the reporting period, the company expects the impact of non-recurring gains and losses on net profit attributable to shareholders of the listed company to be approximately 42 million yuan, mainly from gains and losses on disposal of non-current assets and other items.

3. Haier Smart Home: Confirmed repurchase of 79,392,400 D-shares, all to be cancelled. Haier Smart Home announced that the company has confirmed a voluntary public repurchase of 79,392,400 overseas listed foreign shares, accounting for approximately 0.853% of the company's total share capital. All repurchased shares will be cancelled. The acceptance period for this repurchase offer was from September 4 to September 29, 2026. The relevant repurchase plan has been approved by the company's 2025 annual shareholders' meeting and the 2026 first A-share, D-share, and H-share class shareholders' meetings. As of the date of the announcement, the aforementioned repurchased D-shares have not yet been cancelled, and the company will disclose the share changes after the cancellation is completed.

4. Midea Group: Cumulative repurchase amount reached 9.94 billion yuan as of September 30. Midea Group announced that as of September 30, 2026, the company had cumulatively repurchased 123 million A-share shares through centralized bidding, accounting for 1.61% of total share capital, with a transaction price range of 73.66 yuan to 87.71 yuan per share, and a total payment amount of 9.94 billion yuan. The purpose of this repurchase plan has been changed to cancellation and capital reduction, in compliance with relevant regulations and the established plan.

5. Gree Electric: Cumulative repurchase of 28,319,800 shares as of September 30. Gree Electric announced that the company had previously approved a repurchase plan with a total repurchase fund of no less than 5 billion yuan (inclusive) and no more than 10 billion yuan (inclusive), with the upper limit of the repurchase price adjusted to 54.55 yuan per share; no less than 70% of the repurchased shares are to be used for cancellation and reduction of registered capital, and no more than 30% for employee stock ownership plans or equity incentives. As of September 30, 2026, the company had cumulatively repurchased 28,319,800 shares, with a total payment amount of 1.083 billion yuan (excluding transaction fees).

6. Benchuan Intelligent: Expected net profit growth of 190%-335% year-on-year in the first three quarters, with increased revenue share from high-end, high-value-added PCB products such as high-layer boards. Benchuan Intelligent announced that it expects net profit attributable to shareholders of the listed company to be 96 million yuan to 144 million yuan in the first three quarters of 2026, representing a year-on-year increase of 190.24%-335.36%. The main reasons for the performance change are the company's continuous deepening of its major customer strategy, deep binding with high-quality industry customers, establishment of long-term stable cooperation with numerous leading manufacturers, and consolidation of order foundations through signing strategic cooperation and other agreements. In the face of price fluctuations in upstream raw materials such as copper-clad laminates, the company relied on stable customer relationships and large-scale procurement bargaining power to carry out product price adjustments in an orderly manner, effectively stabilizing product profit margins and ensuring the resilience of profitability. The company proactively optimized its customer structure, gradually phasing out low-margin, low-efficiency orders, and concentrated resources on deeply cultivating high-credit, high-value quality customers. Meanwhile, the revenue share of the company's high-end, high-value-added PCB products such as high-layer boards, high-order HDI, embedded components, and buried copper steadily increased, laying a solid foundation for the company's product structure to leap to high-end and for sustained performance growth.

7. Amlogic: Q3 net profit expected to increase 223%-248% year-on-year, with preliminary estimate that annual revenue is expected to exceed 10 billion yuan. Amlogic announced that it expects operating revenue of 7.08 billion yuan to 7.18 billion yuan in the first three quarters of 2026, a year-on-year increase of 39.61% to 41.59%. It expects net profit attributable to owners of the parent company of 1.26 billion yuan to 1.31 billion yuan in the first three quarters of 2026, a year-on-year increase of 80.58%-87.74%. Among this, the third quarter is expected to achieve net profit attributable to owners of the parent company of 649 million yuan to 699 million yuan, a year-on-year increase of 222.67%-247.52%, and a quarter-on-quarter increase of 48.36%-59.79%. The main reasons for the performance change are the company's smart set-top box SoC chip shipments ranking first globally, smart TV SoC chips continuously being adopted by mainstream global terminal brands, and product structure optimization. The company expects that this year's smart TV SoC chip shipments are expected to reach one-third of the global market. At the operational level, the company preliminarily estimates that annual operating revenue is expected to exceed 10 billion yuan.

8. Wavelength Optoelectronics: Company and chairman among others prosecuted for smuggling goods prohibited from import and export. Wavelength Optoelectronics announced that the company received an indictment from the Third Branch of the Shanghai People's Procuratorate, in which the company and Chairman Huang Shengdi and two others were prosecuted on suspicion of smuggling goods prohibited from import and export. The amount involved is 20.1085 million yuan, with the case occurring from August 2023 to April 2025. The company stated that the litigation is not expected to have a significant impact on its ability to continue as a going concern, that production and operations are currently normal, and that the judgment outcome remains uncertain.

9. Xiongsu Technology: Plans to acquire no more than 80% equity of Xinyuan New Materials. Xiongsu Technology announced that it plans to acquire no more than 80% equity of Shenzhen Xinyuan New Materials Co., Ltd. by cash, with the target company's overall 100% equity valuation tentatively set at no more than 800 million yuan, and the cash consideration at no more than 640 million yuan. Xinyuan New Materials had a net profit of approximately 50 million yuan in 2025 and approximately 30 million yuan in the first half of 2026. The performance commitment period is 2026-2028, with 2026 net profit not less than 58 million yuan and the cumulative three-year total not less than 192 million yuan. This transaction is still in the planning stage and there is uncertainty. Xinyuan New Materials is a technology enterprise centered on high thermal conductivity packaging interconnection materials, focusing on the research and development, production, sales, and technical services of semiconductor heat dissipation packaging materials represented by nano-metal products, providing high heat dissipation and high reliability solutions for power semiconductor packaging and advanced integrated circuit packaging.

10. Shanghai Xiba: Company's solid-state battery-related business has not yet formed long-term stable large-scale revenue. Shanghai Xiba issued a stock trading risk warning announcement stating that the company has noticed high market attention recently on the solid-state battery concept. As of now, the company's related business has not yet formed long-term stable large-scale revenue; meanwhile, based on the uncertainty of product iteration and market development, the testing, matching results, and application prospects of related sample submissions also carry significant uncertainty. Investors are advised to make decisions cautiously.

11. Yonghe Co.: Expected net profit growth of 61.96% to 83.27% year-on-year in the first three quarters of 2026. Yonghe Co. announced that it expects net profit attributable to shareholders of the listed company to be 760 million yuan to 860 million yuan in the first three quarters of 2026, a year-on-year increase of 61.96% to 83.27%; net profit excluding non-recurring gains and losses to be 750 million yuan to 850 million yuan, a year-on-year increase of 64.13% to 86.01%. Net profit in the first three quarters of 2025 was 469 million yuan, and net profit excluding non-recurring items was 457 million yuan. The performance growth was mainly driven by increased profit contribution from the fluoropolymer materials business, growth in product production and sales, and improved gross margins.

12. Veken Technology: Company's sodium-ion battery-related business currently accounts for a relatively small proportion. Veken Technology issued an announcement on abnormal stock trading fluctuations stating that upon verification, the market has recently paid relatively high attention to sodium-ion battery-related concepts. The sodium-ion battery industry as a whole is still in the early stage of industrialization, and technical routes and market promotion progress remain uncertain. The company's sodium-ion battery-related business currently accounts for a relatively small proportion of its business scale, and achieving large-scale commercialization still requires a certain period. The related business's contribution to the company's overall performance for the current period is extremely limited and is unlikely to have a significant impact on the company's operating performance in the short term.

13. Dinglong Co.: Expected net profit of 840 million to 860 million yuan in the first three quarters, a year-on-year increase of 61.72%-65.57%. Dinglong Co. announced that it expects net profit attributable to shareholders of the listed company to be 840 million yuan to 860 million yuan in the first three quarters of 2026, a year-on-year increase of 61.72%-65.57%; net profit excluding non-recurring gains and losses to be 780 million yuan to 800 million yuan, a year-on-year increase of 57.72%-61.77%. Operating revenue for the same period was approximately 2.915 billion yuan, a year-on-year increase of 8%. The performance growth was mainly benefited from the high prosperity of downstream semiconductor and new energy lithium battery industries, increased market share, and strong customer demand. This performance forecast has not been audited.

14. Bright Laser Technologies: Plans to invest approximately 1 billion yuan to build a metal additive manufacturing base. Bright Laser Technologies announced that it plans to register and establish a wholly-owned subsidiary in Taicang High-tech Zone, Jiangsu Province, to invest in the construction of a metal additive manufacturing high-end manufacturing industrial base project, with a total investment of approximately 1 billion yuan, a construction period of approximately 24 months, and plans to acquire approximately 100 mu of land with a total construction area of approximately 104,000 square meters. This matter has been approved by the third meeting of the fourth board of directors and the first meeting of the fourth board strategic committee, and does not need to be submitted to the shareholders' meeting for review.

15. Huashu High-tech: Adjusts private placement plan, plans to raise no more than 2.94 billion yuan for capacity improvement and other projects. Huashu High-tech announced that the company's board of directors approved the adjustment of the 2026 A-share issuance plan to specific targets, with the total raised funds reduced from 3.91 billion yuan to no more than 2.94 billion yuan, and the upper limit of issuance number adjusted from 125 million shares to 125 million shares. The raised funds are intended for the advanced additive manufacturing equipment capacity improvement project of 1.075 billion yuan, the additive manufacturing comprehensive service platform construction project of 1.513 billion yuan, and the global operations center construction project of 352 million yuan. This adjustment does not need to be submitted to the shareholders' meeting for review.

16. Jinlongyu: Company's solid-state battery business is still in the capacity construction and downstream customer development stage. Jinlongyu announced that the company's stock closing price deviation cumulatively exceeded 20% over three consecutive trading days on September 29, September 30, and October 8, 2026, constituting abnormal stock trading fluctuations. The company's solid-state battery business is still in the capacity construction and downstream customer development stage. Although it has obtained small-batch orders, it has not yet formed long-term stable revenue and does not currently constitute a significant impact on the company's overall performance. Affected by factors such as the macroeconomic environment, industry policies, market environment changes, and construction project progress, the project also carries the risk of industrialization and commercialization falling short of expectations.

17. Yuewannianqing: Clarifies that Chairman Ou Xiantao was not involved in flight conflict rumors, has reported to police. Yuewannianqing announced that the company has noticed false statements on online platforms claiming that "passengers involved in the cabin conflict on China Eastern Airlines flight MU6741 on September 28 include the company's chairman Ou Xiantao." Upon verification, the company states the following regarding the above rumors: the online content involving the company's chairman and president Ou Xiantao is entirely untrue. Ou Xiantao never took that flight, and the above information is malicious fabrication without any factual basis, constituting an infringement on the personal reputation of the company's chairman and the company's commercial goodwill. Ou Xiantao has reported to the public security authorities and the case has been accepted. The company has also simultaneously carried out evidence preservation and retention work regarding the relevant disseminated content. The company will, in accordance with relevant laws and regulations, pursue legal liability against entities that fabricate and spread the above false information, and resolutely safeguard the legitimate rights and interests of the company and all investors.

18. Guanghui Energy: Expected net profit growth of 167%-177% year-on-year in the first three quarters, with the midpoint of main product sales prices rising. Guanghui Energy announced that it expects net profit attributable to shareholders of the listed company to be 2.70 billion yuan to 2.80 billion yuan in the first three quarters of 2026, a year-on-year increase of 166.83%-176.71%. The main reason for the performance change is the continued recovery of the domestic energy industry, the rise in the midpoint of the company's main product sales prices, full release of production capacity, and continuous widening of profit margins.

Operating Performance

1. Guiguan Electric Power: Cumulative power generation of 36.970 billion kWh in the first three quarters, a year-on-year increase of 16.08%. 2. Guangzhou Port: Estimated container throughput of 2.396 million TEUs in September, a year-on-year increase of 19.6%. 3. Aonong Biotech: September pig sales of 253,600 head, a year-on-year increase of 54.2%. 4. Daqin Railway: September Daqin Line cargo transport volume of 31.38 million tons, a year-on-year decrease of 5.05%. 5. Yutong Bus: September 2026 sales of 4,158 units, a year-on-year decrease of 12.57%. 6. Shaanxi Coal Industry: September 2026 coal production of 15 million tons, a year-on-year increase of 3.02%. 7. Hanma Technology: September 2026 truck sales of 1,320 units, a year-on-year increase of 8.2%. 8. Guanghui Energy: Expected net profit growth of 167%-177% year-on-year in the first three quarters of 2026. 9. Xiangjia Co.: September 2026 live poultry sales of 3,519,700 units, a year-on-year decrease of 10.14%. 10. Wens Foodstuff: September 2026 broiler sales of 126 million units, a year-on-year increase of 2.72%. 11. Kingkey Smart Agriculture: September 2026 commercial fattening pig sales of 158,200 head, cumulative 1.558 million head. 12. Kemen Food: Controlled subsidiary Xingjiang Muge September pig sales of 58,500 head, a year-on-year increase of 54.63%. 13. Dinglong Co.: Expected net profit of 840 million to 860 million yuan in the first three quarters, a year-on-year increase of 61.72%-65.57%. 14. Changyuan Electric Power: September power generation of 3.253 billion kWh, a year-on-year increase of 18.66%. 15. Changan Automobile: September 2026 sales of 215,400 vehicles, a year-on-year decrease of 19.11%. 16. Zhongtong Bus: September 2026 sales of 1,124 units, a year-on-year increase of 1.63%. 17. Lihua Co.: September 2026 broiler sales of 56,428,800 units, a year-on-year increase of 6.1%. 18. Dongan Power: September 2026 engine sales of 49,111 units, a year-on-year increase of 20.48%. 19. Western Animal Husbandry: September 2026 self-produced raw milk production a year-on-year increase of 17.86%. 20. Giant Star Farming: September 2026 commercial fattening pig sales of 335,000 head, a year-on-year decrease of 3.95%. 21. Pengding Holdings: September 2026 operating revenue of 4.959 billion yuan, a year-on-year increase of 16.38%. 22. Seres: September new energy vehicle sales of 29,271 units, a year-on-year decrease of 34.48%. 23. Dongfeng Motor: September 2026 automobile production of 9,942 units, compared with 6,388 units in the same period of 2025. 24. Yonghe Co.: Expected net profit growth of 61.96%-83.27% year-on-year in the first three quarters of 2026. 25. Jiangling Motors: September 2026 sales of 35,168 vehicles, a year-on-year increase of 2.15%. 26. Milkground: Net profit of 212 million yuan in the first three quarters of 2026, a year-on-year increase of 20.37%. 27. Xingyun Technology: Expected net profit of 240 million to 290 million yuan in the first three quarters, turning losses into profits year-on-year.

Risk Warnings on Abnormal Stock Movements

1. Yuewannianqing: Clarifies that Chairman Ou Xiantao was not involved in flight conflict rumors, has reported to police. 2. Juneyao Airlines: Securities affairs representative Wang Xi resigns. 3. Chinese Online: Terminates issuance of H-shares and listing on the Hong Kong Stock Exchange. 4. Zhaojin Gold: Chairman Weng Zhanbin retires and leaves office, Tang Lei acts as chairman. 5. Veken Technology: Company's sodium-ion battery-related business currently accounts for a relatively small proportion. 6. Jinlongyu: Company's solid-state battery business is still in the capacity construction and downstream customer development stage. 7. Shenghui Technology: Disqualified from high-tech enterprise status for 2021 to 2023. 8. Liziyuan: Independent director Xiao Zuoping receives disciplinary review and supervisory investigation. 9. Shanghai Xiba: Company's solid-state battery-related business has not yet formed long-term stable large-scale revenue. 10. Wavelength Optoelectronics: Company and chairman among others prosecuted for smuggling goods prohibited from import and export. 11. Nenghui Technology: Director and senior management member Song Yueyue plans to reduce holdings by no more than 0.03% of the company's shares. 12. Lujiazui: Company states production and operations are normal.

Repurchases & Increases/Decreases in Holdings

1. Fuda Co.: Fan Fan cumulatively increased holdings by 0.0145%, increase plan completed. 2. Urban Construction Development: Received Huaneng Capital dividend of 23.625 million yuan. 3. Changhua Group: Received dividends from wholly-owned subsidiaries totaling 80 million yuan. 4. Haier Smart Home: Confirmed repurchase of 79,392,400 D-shares, all to be cancelled. 5. Xinhe Co.: Completed absorption merger of wholly-owned subsidiary Xinhe Maoyi in October 2026. 6. Zhongtian Technology: As of the end of September, the company had cumulatively repurchased 2,001,300 shares. 7. Midea Group: Cumulative repurchase amount reached 9.94 billion yuan as of September 30. 8. Chenfeng Technology: Energy storage project filing changed to total investment of 655 million yuan. 9. Gree Electric: Cumulative repurchase of 28,319,800 shares as of September 30. 10. Zhibang Home: Plans to increase capital and invest 200 million yuan in Thailand smart manufacturing base project. 11. Hongjing Technology: Repurchase price upper limit adjusted from 260 yuan per share to 259.9 yuan per share. 12. Conch New Materials: Company plans to publicly list and sell certain assets, with a base price of 41 million yuan. 13. Bank of Xi'an: Acquisition of Shaanxi Luonan Sunshine Village Bank approved by regulators. 14. Zhongheng Group: Lamei Pharmaceutical plans to publicly list and sell assets, with a base price of 31.232 million yuan. 15. Yingqu Technology: Plans to acquire 41% equity of Beiyang Ruiheng for 2.05 million yuan, constituting a related-party transaction. 16. Huada Empyrean: Invests 149 million yuan to take a stake in Xinxingji. 17. Industrial and Commercial Bank of China: Application for A-share issuance to specific targets accepted by Shanghai Stock Exchange. 18. Guolian Minsheng: Controlling shareholder's increase commitment trigger condition met. 19. Sanhua Intelligent Controls: Cumulative repurchase of 198 million yuan of the company's A-shares as of September 30. 20. Jianyan Institute: Hanqi Investment plans partial tender offer for 9.9% of shares, resumption of trading on October 9. 21. Huaming Equipment: Plans to repurchase company shares for 150 million to 250 million yuan. 22. Seres: Has cumulatively repurchased 897 million yuan of shares. 23. Shenyu Co.: Plans to sell no more than 2,904,200 repurchased shares through centralized bidding. 24. CATL: Repurchased 697,800 shares on October 8, paying 200 million yuan. 25. Longquan Co.: Signed agreement to transfer 2.7823% equity of Jingyi Jingce. 26. Haichuan Intelligent: Shareholder Zheng Jinkang plans to reduce holdings by no more than 3% of company shares. 27. Mankun Technology: Has repurchased 575,100 company shares, with total transaction amount of 26.3745 million yuan. 28. Xiongsu Technology: Signed letter of intent to acquire no more than 80% equity of Xinyuan New Materials. 29. Enlight Media: Film "Eight Immortals!" box office exceeds 2 billion yuan. 30. Biwin Storage: Controlled subsidiary Guangdong Xincheng Hanqi signs 600 million yuan capital increase agreement. 31. Kairuide: Nonggu Group reduction plan period expires, reduced 3.546 million shares accounting for 0.96%. 32. Sujiaoke: Fu Guanhua, Wang Junhua and their concerted actors' reduction plan period expires, cumulatively reduced 0.8786% and 0.8094% respectively. 33. Jiansheng Group: Completed repurchase of 20,542,800 shares at prices of 10.27 yuan to 14.55 yuan per share, paying 240 million yuan. 34. STO Express: Deyin Investment completed transfer of 15.4 million shares to Chen Dejun, a change of 1.01%. 35. Yifan Transmission: Liu Jincheng plans to transfer 5% of shares by agreement. 36. Guqi Rongcai: Anhui Agricultural Fund reduction plan implementation completed, shareholding reduced to 6%. 37. Shaanxi Huada: Shaanxi Provincial Industrial Investment Co. reduction plan expired without reduction, no more than 1%. 38. Guancheng New Materials: Controlling shareholder Fengrong Investment completed reduction, shareholding reduced to 29.34%.

Major Contracts

1. Times New Material: Signed 4.394 billion yuan wind power blade sales contract. 2. Kejie Intelligent: Won bid for approximately 75 million yuan Poland intelligent logistics automation project. 3. Far East Smarter Energy: Subsidiaries won bids and signed contracts worth 1.412 billion yuan in September 2026. 4. Sanfeng Environment: Consortium signed Hong Kong integrated waste management facilities Phase II project. 5. Jianghe Group: Wholly-owned subsidiary won bid for Suzhou curtain wall project, amount approximately 353 million yuan. 6. Wonders: Won bid for Luxi Mining high-salinity water treatment project, operating contract amount estimated at approximately 150 million yuan. 7. GigaDevice: As of September 30, 2026, cumulatively repurchased 2,451,900 shares. 8. Yonggui Electric: Won bid for Shanghai Line 19 project, bid amount of 11.4296 million yuan. 9. Mencao Ecology: Signed 95.4 million yuan project construction contract. 10. Zhejiang Construction Investment: Huaying Zhijian won bid for HK$3.1 billion project. 11. Qiaoyin Co.: Won bid for approximately 528 million yuan Maoming sanitation operation service project. 12. Nengke Technology: Wholly-owned subsidiary signed 153 million yuan contract. 13. Longpan Technology: Nanjing Lithium Source signed five-year 378,600-567,800 ton agreement.