A-share pre-market report | New policies in the real estate market go viral! Expert interpretation; Changxin LPDDR6 memory begins mass production globally.

Pre-market News 1. New policies in the real estate market are trending! How impactful is this "combination punch"? Expert analysis is here. Type: Industry Sentiment Impact: Positive Recently, favorable policies for real estate have emerged: The CSRC supports reasonable financing for real estate development companies; The central bank extends housing loan terms to a maximum of 40 years; The Financial Regulatory Authority issues five management measures related to real estate financing; Three departments release a notification on improving the sales system for commercial housing. Experts indicate that this policy "combination punch" represents a full-chain institutional reconstruction covering commercial housing sales, credit management, and capital market financing, aiming to guide the industry away from high leverage and rapid turnover development paths. 2. Changxin LPDDR6 memory achieves global mass production, breaking the long-standing monopoly of Samsung and SK Hynix. Type: Company Sentiment Impact: Positive Changxin's LPDDR6 memory has officially entered mass production. It is reported that the first device to support Changxin's LPDDR6 is Xiaomi's 18 Fold. Xiaomi CEO Lei Jun posted on Weibo, saying, "Congratulations to Changxin for achieving mass production of LPDDR6 memory, truly remarkable!" This marks the first time a Chinese memory company has broken the long-standing product monopoly held by overseas manufacturers such as Samsung and SK Hynix in the high-end memory standard, achieving global mass production for the first time. 3. Federal Reserve Chairman Wallers hawkish debut leads to a crash in gold prices! Institutions debate the trend of gold prices. Type: Macro Sentiment Impact: Neutral Federal Reserve Chairman Waller's hawkish debut at Jackson Hole hinted that insufficiently rapid inflation reduction would lead to interest rate hikes, emphasizing a steadfast 2% inflation target. The market reignited expectations for a rate hike in September, causing gold prices to plummet; spot gold quickly fell after Waller's speech, closing down 2.95%. Analysts pointed out that around $4458 might become a critical battleground for bulls and bears; if this support is breached, it could further point to $4320. 4. A-share mid-year reports are in! The Science and Technology Innovation Board saw profits soar by 438%, with electronics and non-ferrous metals showing high profit growth. Type: Company Sentiment Impact: Positive The mid-year reports for A-shares in 2026 were disclosed, with 5550 A-share companies reporting by August 30, collectively achieving revenue of 37.68 trillion yuan, a year-on-year increase of 7.63%. The Science and Technology Innovation Board achieved a net profit attributable to shareholders of 144.887 billion yuan, a staggering year-on-year increase of 438.45%. Electronics, non-ferrous metals, and non-bank financials rank in the top three for profit growth. In the ranking of net profits attributable to shareholders, the Industrial and Commercial Bank of China, China Construction Bank Corporation, and Agricultural Bank Of China occupy the top three spots. Investment Calendar Official manufacturing PMI for August released. Investment Tip Determining whether stock price increases are driven by corporate earnings or purely psychological factors is exceedingly difficult. [American] Lyricat Ahmed "The Financial King: Bankers Who Destroyed the World" Institutional Insights 1. Founder: Capital rotation is switching, focusing short-term on semiconductors & AI hardware, innovative pharmaceuticals, and low-position cyclical stocks. 2. Zhongtai: Growth ETFs such as the Science and Technology Innovation 50 are receiving funding amid sharp declines, indicating that a right-side bottom is forming. 3. Zheshang: The market may continue its intermediate rebound in a pattern of range fluctuations and gradually rising focus. Positive and Negative Outlook 1. Big news from the super highway! China achieves bi-directional high-speed laser communication between the Earth and the Moon for the first time. Type: Market Buzz CICC: Inter-satellite laser links are becoming standard for large constellations, and as satellite internet construction advances, the development of the laser communication industry is expected to accelerate, with investment opportunities in core component suppliers and downstream terminal manufacturers. 2. Soaring by 260%! High-end copper foil orders are surging globally, and demand continues to amplify. Type: Institutional Commentary Soochow: AI-driven high-end electronic copper foil sees both volume and price surging, while overseas high-end copper foil leaders are expanding conservatively, leading to order overflow to China. Thinness and high-end quality are the trends, and industry capacity utilization is rebounding to full production, with significant profit elasticity projected for the sector in 2026. 3. Climate and war impact global Shenzhen Agricultural Power Group, wheat and corn reach a three-year high. Type: Market Buzz Tianfeng: Focus on investment opportunities in four segmented areas: seeds, planting and downstream, agricultural materials, and water conservation. Global weather and international trade uncertainties are reshaping the global supply chain of the Shenzhen Agricultural Power Group, highlighting the importance of national food security and accelerating commercial planting. Announcement Express Positive Announcements 1. Muxi Co., Ltd.: Net profit for the first half year reaches 612 million yuan, turning losses into profits with significant growth in GPU product shipments. 2. Zhejiang Wazam New Materials: Net profit for the first half year increases by 305% year-on-year, with rising prices and sales of copper-clad boards. 3. Wuhan Yifi Laser Corporation: Signs a contract worth approximately 222 million yuan for the assembly line of lithium battery equipment. Negative Announcements 1. Guangdong Cellwise Microelectronics: Net profit in the first half year stands at 31.1654 million yuan, a year-on-year decline of 20.79%. 2. Wafer Works: Net profit for the first half of 2026 is 26.7366 million yuan, a year-on-year decrease of 55.22%. 3. Meinian Onehealth Healthcare Holdings' semi-annual report shows that Zhang Jianping has exited the list of top ten shareholders, after being ranked as one of them in the quarterly report. Overseas Market Self-selection tip: After the Federal Reserve reaffirmed its stance against inflation, the market has become more cautious, and expectations for future interest rate hikes have risen, leading to a collective decline in the three major indices. The chip sector weakened, with Nvidia dropping over 4%; major tech stocks saw most rising, with Amazon up over 3% and Microsoft and Apple nearly 2%; the NASDAQ Golden Dragon China Index rose by 0.44%, with Alibaba increasing by over 2%. This article is reprinted from "Tencent Self-Selected Stocks," edited by Chen Siyu.