A-shares Pre-Market Report | NVIDIA's performance significantly exceeds expectations! Revenue and profit have doubled, and model manufacturers reveal a series of positive developments.

Pre-Market News 1. NVIDIA's performance greatly exceeded expectations! Q2 revenue and profits both doubled, with projected revenue growth of 70% for the next fiscal year. Type: Company | Sentiment Impact: Positive NVIDIA announced its Q2 results for fiscal year 2027, reporting revenue of $96.22 billion, a 106% year-on-year increase, and adjusted earnings per share of $2.22, both exceeding market expectations. Although the stock price initially plunged in after-hours trading, it quickly rebounded due to optimistic statements from company executives. NVIDIA projects a revenue growth of about 70% for fiscal year 2028, significantly higher than the previous market estimate of 45%. 2. U.S. stock market slightly declines, PCE inflation slightly exceeds expectations, optical communication sector strengthens, gold and silver prices drop. Type: Market | Sentiment Impact: Neutral The three major U.S. stock indices closed slightly lower, as the latest PCE inflation data came in slightly above expectations. Chip stocks were active, with Western Digital up more than 4%, and the optical communication sector showed strength, with Lumentum rising over 6% and Corning increasing more than 3%. The NASDAQ Golden Dragon China Index fell 0.61%, with most component stocks weakening. Spot gold dropped $64.19, falling below the $4600 mark. 3. Shanghai releases new document on strategic emerging industries! Comprehensive enhancement of the integrated circuit industry level. Type: Macro | Sentiment Impact: Positive On August 26, Shanghai issued the "15th Five-Year Plan for the Development of Strategic Emerging Industries in Shanghai." The plan proposes enhancing the strategic guiding capabilities of three major leading industries, including integrated circuits, biomedicine, and artificial intelligence. It aims to promote the integrated development of satellite internet with BeiDou, 6G, and AI, accelerating the large-scale application of satellite internet and BeiDou; and to speed up breakthroughs in key technologies such as end-side AI chips. 4. Super "bull investor" position changes revealed! Ge Weidong remains committed to semiconductors, and Zhang Jianping aggressively targets optical communications. Type: Industry | Sentiment Impact: Positive As of August 26, Ge Weidong's family's position at the end of Q2 had a reference market value of up to 26.834 billion yuan, spanning several industries including semiconductors, computing power, and automotive. Since the 2018 mid-term report, Ge Weidong has ranked among the top ten circulating shareholders of GigaDevice Semiconductor Inc. for 33 consecutive reporting periods. The Zhang Jianping family has significantly increased its engagement in optical communications while fully retracting from cyclical stocks. In Q2, they entered the top ten circulating shareholders of three major optical communication targets: Zhongji Innolight, Hengtong Optic-Electric, and Hangzhou Cable. Investment Calendar Profit data from industrial enterprises above designated size. Investment Tips Panic often makes everyone appear weak and powerless, just as frenzied bubbles make everyone seem so wise. Timothy F. Geithner, "Reflections on the Financial Crisis" Institutional Views 1. Founder: After the second bottom-finding in the A-share market, a rebound is expected in September, with a focus on opportunities in technology growth and other directions. 2. Kaiyuan Securities: The market is more likely to enter repeated fluctuations, and the potential and sustainability of a rebound should not be overly optimistic. 3. China Galaxy: The market will focus on structural rotation and recovery, seizing structured opportunities around verifying prosperity. Positive and Negative Outlooks 1. Positive news for large models! Z.AI launches GLM-5.3-Flash, and MiniMax's token consumption in July soars to 20 times that of the beginning of the year. Type: Institutional Comments Huayuan Securities: Domestic AI large models are entering a period of accelerated development, which may lead to growth in the domestic computing power market and increased penetration. They maintain a positive outlook on the high prosperity of the domestic computing power sector. It is recommended to focus on domestic chips, CPUs, ODM manufacturers, and IDC, among others. 2. Apples fall event scheduled for September 9: First foldable iPhone to be launched. Type: Market Discussion Caitong: Apple's first foldable phone inventory target has been raised to 10 million units, an increase of nearly 30% compared to market expectations. The global foldable phone market is at a critical turning point towards mainstream adoption, and the iPhone Ultra is expected to rapidly activate the high-end user base. 3. Beijing-Tianjin-Hebei issues work plan to advance the construction of quality brain-computer interface landmark projects. Type: Policy Focus Industrial: 2026 will be a key year for the brain-computer interface industry to transition from technological exploration to industrial implementation, with multiple resonances in industry-driven elements. The underlying architecture of various technical routes for brain-computer interfaces has basically been established. Announcement Briefs Mostly Positive Announcements 1. Hua Hong Grace Semiconductor: Net profit for the first half of 2026 was 399 million yuan, a 436.69% year-on-year increase. 2. Shenzhen SDG Information: Net profit for the first half of 2026 was 62.067 million yuan, a 1007.52% year-on-year increase. 3. Semight Instruments: Net profit for the first half of 2026 was 567 million yuan, a 903% year-on-year increase. Mostly Negative Announcements 1. Beijing Centergate Technologies: 8.23% of the company's total share capital held by the controlling shareholder, Gome Holdings, will be subjected to judicial auction. 2. Inner Mongolia Yili Industrial Group: Net profit for the first half of 2026 was 5.759 billion yuan, a 20.02% year-on-year decrease. 3. Qingdao Topscomm Communication: Wang Tianyu and Yuan Zhishuang plan to reduce their holdings of the company by no more than 3.00% and 0.32%, respectively. Overseas Markets PCE inflation slightly exceeds expectations, and the three major U.S. indices close slightly lower. The "Tech Giants" showed mixed results: Apple rose 1.15%, Meta increased 1.07%, Google fell 1.23%, and Tesla dropped 1.26%; NVIDIA provided an optimistic outlook for fiscal year 2028, rising over 5% in after-hours trading; the NASDAQ Golden Dragon China Index declined 0.61%, and among popular Chinese concept stocks, NTES fell 4.2%. This article is reproduced from "Tencent Self-Selected Stocks," edited by GMTEight: Xu Wenqiang.