A-share Pre-Market Report | U.S. Treasury Department Steps In! U.S. Stocks End Three-Day Decline, Pharmaceutical Leader Moderna (MRNA.US) Soars 176%

Pre-Market News 1. U.S. Treasury Intervenes! U.S. Stocks End Three-Day Decline; Moderna Soars 176% Type: Market Sentiment Impact: Positive As the U.S. Treasury intervenes to address the "U.S. debt crisis," U.S. stocks have temporarily halted their previous "three-day decline." In sector news, the "cancer vaccine" has made breakthrough progress, with Moderna surging 176.97% in a single day, igniting the entire pharmaceutical sector. The market capitalization of the world's top four pharmaceutical companiesEli Lilly, Johnson & Johnson, AbbVie, and Merckreached record closing highs, while the NASDAQ Biotechnology Index soared 6.39%, setting a new historical high. 2. National Development and Reform Commission Holds Meeting on "Six Networks" Major Project Coordination Mechanism to Improve "Six Network Coordination" Work Promotion Mechanism Type: Industry Sentiment Impact: Positive On August 19, the National Development and Reform Commission's party members and deputy director, Yue Xiuhu, presided over a meeting concerning the coordination and scheduling mechanism for major projects under the "Six Networks," studying the establishment of a coordination mechanism involving the computing power network, new power grid, and a new generation communication network ("2+3+N," with 2 power grid companies, 3 telecommunication operators, and N computing-power related enterprises) to enhance coordination efforts and establish a unified work force to jointly promote the accelerated construction of major projects. 3. Fed Minutes Signal Hawkish Stance: Many Officials Retain Rate Hike Option Type: Macro Sentiment Impact: Negative In the early hours of Thursday (Beijing time), the Federal Reserve released meeting minutes indicating that a considerable number of officials believe it would be necessary to raise interest rates if inflation does not show progress in its decline. Meanwhile, the officials also highlighted discussions regarding the financial risks arising from the AI boom, cautioning against the transmission of high valuations and expanding borrowing into the credit system. 4. Trump Announces "The Harshest Economic Actions" Against Iran Type: Macro Sentiment Impact: Negative On August 19, local time, U.S. President Trump stated on his social media platform "Truth Social" that Iran failed to seize the opportunity to reach an agreement; therefore, he announced the implementation of "the most severe economic actions ever taken against any country," proclaiming it would be an unprecedented "economic war and isolation." Trump warned that any country allowing its financial institutions, businesses, airports, or governmental entities to provide support to Iran would face "severe economic consequences." 5. SK Hynix Surges 5%! Plans to Buy Back 40 Trillion Korean Won in Stock; Samsung May Follow Suit Type: Company Sentiment Impact: Positive On Wednesday, SK Hynix announced plans to repurchase and cancel stock worth 40 trillion Korean Won (approximately $28.6 billion), and promised that at least 50% of the free cash flow generated between 2025 and 2027 would be used for shareholder returns. The company plans to disclose more details regarding shareholder returns during its third-quarter earnings announcement. Overnight, SK Hynix's U.S. stock soared nearly 5% at one point, closing with an increase of 0.35%. Investment Calendar Loan Market Quotation Rate Announcement Investment Tips On the magician's stage, we see some things that originally did not exist, just as when we buy stocks, we see certain things that arent real. [U.S.] John Mauldin, "The Psychology of Stock Market Trading" Institutional Opinions 1. Orient: This adjustment is a disturbance in short-term sentiment and trading; after the risk is released, it will regain an upward trend. 2. Guotai Haitong: Successful intervention by stabilizing forces has effectively blocked tail-end risks, and the Chinese stock market will gradually enter a "golden autumn market." 3. Shenwan Hongyuan Group: Funds are slowly cycling back to states seen at the end of June; the computing power chain and small-cap AI are more flexible directions. Prospective Good and Bad News 1. Spot Gold Surges 4.35% Surpassing $4500/Ounce Type: Market Discussion CITIC SEC: It is expected that the situation in the Strait of Hormuz will shift its influence on gold prices from suppression to promotion, and the Federal Reserve's monetary policy may be more optimistic than market expectations; combined with the U.S. military spending surge increasing the deficit, gold prices are expected to return to an upward channel within the year. 2. Shanghai Advances 6G Trial Network for Smart Collaboration and Commercial Deployment Type: Policy Focus Galaxy Securities: Chinas 6G technology research and development continues to accelerate, with a dense release of supporting industrial policies. The industry is driven by satellite communications, integrated air, space, and ground development, and ubiquitous connectivity, with broad long-term growth potential in this track. We recommend focusing on the investment leads within the operator, 6G main equipment manufacturers, and satellite internet industrial chains. 3. Samsung Raises Chip Manufacturing Prices, with Increases up to 15% Type: Institutional Commentary CMSC: It is recommended to pay attention to storage, computing power, and foundries benefiting from tight supply and demand, and equipment materials in the expansion cycle. We also suggest focusing on key constituents of various tech innovation indices and semiconductor indices. Announcement Dispatch Positive Announcements 1. Foxconn Industrial Internet: First repurchase of 2.4144 million shares, costing 149 million yuan 2. Advanced Micro-Fabrication Equipment Inc. China: Net profit in the first half of 2026 reaches 2.825 billion yuan, a year-on-year increase of 300.22% 3. Hunan Yuneng New Energy Battery Material: Net profit in the first half of 2026 hits 2.91 billion yuan, a year-on-year increase of 853.51% Negative Announcements 1. Infotmic Co., Ltd: Received a decision letter indicating no further review from antitrust operators. 2. Jiangsu Huifeng Bio Agriculture: Received a warning letter for inaccurate information disclosure in the 2023 and 2025 periodic reports. 3. Beijing Wantai Biological Pharmacy Enterprise: Reports a net profit loss of 128 million yuan in the first half of 2026. Overseas Markets Self-selected News Alert: The U.S. Treasurys urgent intervention in the "U.S. debt crisis" saw all three major indices close positively, and the gold, silver, and precious metals sectors surged collectively. Among the "Seven Tech Giants," all but Nvidia recorded gains; the storage and optical communication sectors declined, with Seagate Technology falling over 7% and Coherent dropping over 6%; the NASDAQ Biotechnology Index surged 6.4%, achieving the largest increase in six years. This article is reprinted from "Tencent Self-selected Stocks," edited by GMTEight: Jiang Yuanhua.