A-share pre-market report | Breaking news! The U.S. announces 100% tariffs on patent drugs, and Iran is drafting a agreement on passage of the Hormuz Strait.

Pre-Market News 1. The United States announced that it will impose a 100% tariff on imported patented drugs and pharmaceutical ingredients Type: Industry Emotional Impact: Negative The White House announced on the 2nd that President Trump signed a document on the same day imposing a 100% tariff on imported patented drugs and pharmaceutical ingredients in accordance with Section 232 of the Trade Expansion Act of 1962. This measure provides a path for exemptions or reduced tariffs, aiming to compel pharmaceutical companies to reach agreements with the White House on drug prices and industry reshoring. 2. Action to improve the allocation of computing resources! Ministry of Industry and Information Technology proposes "Algorithm Bank" and "Algorithm Supermarket" for the first time Type: Industry Emotional Impact: Positive The Ministry of Industry and Information Technology launched a special action to empower small and medium-sized enterprises with inclusive computing power. For the first time, the Ministry of Industry and Information Technology proposed exploring innovative businesses such as "Algorithm Bank" and "Algorithm Supermarket". The Algorithm Bank supports small and medium-sized enterprises to "deposit" idle computing resources on the platform, enabling flexible access and off-peak allocation of computing resources. This essentially pools computing resources and operates them in a financialized manner based on the logic of "deposit and loan" in banks. Applications have already been implemented in some cities such as Shanghai and Hangzhou. 3. Good news for the Strait of Hormuz! Iran is drafting a transit agreement, causing US stocks to open low and rise Type: Macro Emotional Impact: Positive Iran announced that it is drafting a transit agreement for the Strait of Hormuz with Oman. The three major US stock indices rose rapidly after a sharp decline, with the S&P 500 closing up 0.11%. Earlier, Trump made a speech about "extremely severe aggression" against Iran, causing the index to drop by over 1%. The NASDAQ closed up 0.18%, after a steep decline of over 2%. A United Nations report stated that if the "blockage" in the Strait of Hormuz continues or worsens, it may lead to long-term high energy prices, causing sustained inflationary pressure. 4. Incremental funds actively entering the market, with new A-share accounts in Shanghai increasing by more than 50% year-on-year in March Type: Market Emotional Impact: Positive Since 2026, the A-share market has remained active, with investors showing high enthusiasm for entering the market. The latest data from the Shanghai Stock Exchange shows that in March of this year, the number of new A-share accounts in Shanghai exceeded 4.6 million, an 82.38% increase compared to the previous month and a 50.10% increase year-on-year. Some securities firms have already released optimistic expectations. Dongguan Securities disclosed in its prospectus that it is expected to achieve operating income of 861 million to 952 million yuan in the first quarter of this year, an increase of 26.62% to 39.95% year-on-year. Investment Calendar US March non-farm employment data and unemployment rate Institutional Views 1. Huaxi: Although market risk appetite is under pressure, the logic of stabilizing the market is still valid, and directly exiting may miss out on the rebound gains. 2. Guotai Haitong: The Chinese stock market is showing an important bottom and turning point, and corrections are opportunities, so it is recommended to actively position oneself. 3. Orient: External uncontrollable factors still exist, and the market rebound will take time, so two main directions can continue to be observed. Upcoming Bullish and Bearish Views 1. Unprecedented! State Grid's fixed asset investment in the first quarter is nearly 130 billion yuan, a year-on-year increase of 37% Type: Market Hot Topic Huatai: With the acceleration of the construction of a unified national electricity market, during the "Fifteenth Five-Year Plan" period, grid investment will maintain a steady growth trend, and there is high demand for ultra-high voltage construction, so the main network investment is expected to continue to grow rapidly. 2. The People's Bank of China adds 12 Digihuman RMB business operating agencies, and the industrial chain is expected to benefit Type: Policy Focus Sinolink: Digihuman RMB plays an important role in promoting the internationalization of the RMB and enhancing international financial discourse. It has a wide range of applications both domestically and internationally, with broad development prospects. Providers of Digihuman RMB-related technologies and products are expected to benefit. 3. Major breakthrough in innovative drugs! China's first original nuclear drug approved Type: Institution Hot Comment Guolian Minsheng: Breakthroughs in innovative drugs are expected to continue, with a long-term positive outlook. The confirmation of the profit turning point brought by outstanding performance reports from biotechnology companies and biopharmaceutical enterprises confirms the logic of "independent innovation + global delivery" of innovative drugs. Announcement Express Slightly positive announcements 1. Zhuzhou Times New Material Technology: Signs a 2.302 billion yuan contract with major wind power turbine manufacturers 2. Youcare Pharmaceutical Group: Innovative drug YKYY018 inhalable aerosol approved for clinical trials on human parainfluenza virus treatment and prevention 3. Xiamen Solex High-Tech Industries: Expected net profit of 91 million to 110 million yuan in the first quarter, a year-on-year increase of 100.20% to 141.99% Slightly negative announcements 1. PKU HealthCare Corp., which experienced two consecutive trading limit up days: the company does not have an innovative drug business 2. Beijing E-Hualu Information Technology: Accumulated overdue debt of 63.4817 million yuan 3. JDM JingDa Machine (Ningbo) Co.,: Net profit in 2025 is 120 million yuan, a year-on-year decrease of 27.03% Overseas Markets Selected Brother's Reminder: Investors still have concerns before the holiday, with mixed movements in the three major U.S. stock indices. In terms of the market, NVIDIA rose by 0.93%, while Tesla's stock price plummeted by 5.4%; popular Chinese concept stocks saw mixed movements, with HeyTea rising by over 10% and NIO and Trip.com rising by over 1%. This article is reproduced from "Tencent My Stock Selection". GMTEight Editor: Huang Xiaodong.