GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | Biotech company City Therapeutics (CTY.US) debuts on the U.S. stock market, rising nearly 24% after the open.

As of press time, the stock is up nearly 24%, at $22.315.

US Stock Market Move | Selloff Continues as Nasdaq 100 Plunges 1.3%, Most Star Tech Stocks Fall

On Friday, the selloff continued, with the Nasdaq 100 plunging 1.3% and most star tech stocks falling.

AI data center construction demand remains strong; Morgan Stanley is bullish on the outlook for Ethernet and optical communications, favoring Lumentum (LITE.US) and Coherent (COHR.US) amid the stock pullback.

Morgan Stanley noted in its latest research report that although the expansion of artificial intelligence (AI) data centers still faces multiple challenges such as power supply, network connectivity, and infrastructure efficiency, the demand for computing power from hyperscale cloud providers remains strong.

QINGLING MOTORS (01122) Signs Capital Reduction Agreement to Fully Control Qingling Mould

QINGLING MOTORS (01122) announced that on October 16, 2026 (after trading hours), the Company, Qingling Group, and Qingling Mould entered into a capital reduction agreement, pursuant to which Qingling Group intends to reduce its approximately 49.4% equity interest in Qingling Mould, with a capital reduction consideration of approximately RMB 202 million, whereby the registered capital of Qingling Mould will be reduced from approximately RMB 309 million to approximately RMB 156 million, with a corresponding reduction in registered capital of approximately RMB 153 million. Upon completion of the capital reduction, the Company's shareholding ratio in Qingling Mould will increase from approximately 50.6% to 100%, and Qingling Mould will remain a subsidiary of the Company, with its financial results continuing to be consolidated into the Group's consolidated financial statements.

STRONG PETRO (00852) subsidiary intends to sell all equity in Nantong Runde Petrochemical for US$12.5 million

STRONG PETRO (00852) announced that on 16 October 2026 (after trading hours), Team Energy, an indirect wholly-owned subsidiary of the Company, entered into a sale and purchase agreement with Yantai Jincheng, an independent third party, pursuant to which Team Energy has agreed to sell and Yantai Jincheng has agreed to acquire the entire equity interest in the target company, Nantong Runde Petrochemical Co., Ltd., at a consideration of US$12.5 million (equivalent to approximately HK$97.5 million).

GOGOX (02246): Proposed disposal of the entire equity interest in GGEx Holdings Limited; proposed change of Chinese name to "GOGO Technology"

GOGOX (02246) announced that on 16 October 2026, the Company proposed to sell the entire issued share capital of the target company GGEx Holdings Limited to the buyer Crestpoint Investment Limited for a consideration of RMB1.00. Upon completion, the Company will no longer hold any issued share capital of the target company, and the target company will cease to be a subsidiary of the Company. Accordingly, the financial results of the target group will no longer be consolidated into the consolidated financial statements of the Group.

Shandong Gold Mining (01787) plans to jointly contribute capital with its controlling shareholder to establish a Hong Kong treasury company, further strengthening the centralized management of the company's overseas funds.

Shandong Gold Mining (01787) announced that on October 16, 2026, the board of directors approved the establishment of a Hong Kong treasury company jointly funded by Mining Hong Kong, a wholly-owned subsidiary of the company, and Yacheng Company, a wholly-owned subsidiary of Gold Group Company, the controlling shareholder of the company. The Hong Kong treasury company is a proposed newly established company in Hong Kong, mainly engaged in the centralized operation and management of overseas funds.

US Stock Market Move | May Face Removal from MSCI Global Index; Major Bitcoin Holder Strategy (MSTR.US) Drops Over 4%

On Friday, major Bitcoin holder Strategy (MSTR.US) fell over 4% in early trading, now at $145.06.

EMPEROR INT'L (00163) subsidiary intends to sell land in Sai Kung, New Territories, Hong Kong for HK$161.8 million.

EMPEROR INT'L (00163) announced that on 16 October 2026, the vendor (Diamond Faith Limited, an indirectly wholly-owned subsidiary of the Company) intends to sell the land to the purchaser (Ming Wang Limited) at a consideration of HK$161.8 million (with reference to the valuation of the land as at 30 September 2026 of HK$161.8 million). The land refers to Lot No. 581 in Demarcation District No. 210, Sai Kung, New Territories, Hong Kong.

Traders Maintain Expectations That the Fed Will Hold Rates Steady in October; U.S. Stocks Diverge; Nasdaq 100 Expected to Fall More Than 3.5% This Week

U.S. stocks diverged in early trading on Friday. Fed Chair Warsh's latest remarks reinforced market expectations that the Fed will hold rates steady in October, providing some support for U.S. stocks.

US Stock Market Move | First foldable phone iPhone Duo sells out instantly at launch; Apple Inc. (AAPL.US) rises over 1% in early trading.

On Friday, Apple (AAPL.US) rose over 1% in early trading, up 27% year-to-date, now at $344.78.

MOBVOI (02438) grants a loan of RMB 12 million.

MOBVOI (02438) announces that on October 16, 2026, Mobvoi Information Technology (a wholly-owned subsidiary of the Company) entered into a loan agreement with the borrower Dr. Li Zhifei, pursuant to which Mobvoi Information Technology agreed to provide a loan with a principal amount of RMB 12 million to the borrower. The loan term is 12 months from the date of loan drawdown.

US Stock Market Move | Memory sector falls broadly; SK Hynix (SKHY.US) drops over 5%.

On Friday, the memory sector fell broadly.

Don't rush to turn bearish amid the AI selloff! Right-tail risk could trigger a strong rebound, and higher rates favor quality stocks.

On Friday morning in the U.S. stock market, the decline in tech and semiconductor stocks continued, with market sentiment remaining tense amid AI valuation concerns and elevated interest rates. However, strategists are sending a subtle signal: being overly bearish could be equally dangerous.

US Stock Market Move | The "flying" Roadster officially makes its debut. Tesla, Inc. (TSLA.US) opens up over 2%.

On Friday, Tesla, Inc. (TSLA.US) opened up over 2%, currently at $367.57.

AI trading enters the "crunching the numbers phase"! As NVIDIA Corporation (NVDA.US) GTC Berlin conference approaches, can it write a new logic for the computing power supercycle?

The GTC Berlin conference is likely to become an important "stress test" for the AI industry during this round of adjustment.

GDC (08271) subsidiary Jinggangshen Innovation and Technology Accelerator successfully selected for Hong Kong's "Innovation and Technology Accelerator Pilot Scheme"

GDC (08271) announced that on October 14, 2026, the Innovation and Technology Commission of the Hong Kong Special Administrative Region Government announced the assessment results of the "Innovation and Technology Accelerator Pilot Scheme." Jinggangshen Innovation and Technology Accelerator Limited, an indirectly wholly-owned subsidiary of the Company, was successfully selected, becoming one of nine professional innovation and technology enterprise service institutions chosen from the first batch of more than fifty applicant institutions. The application for this project received strong support from Shougang Holdings (Hong Kong) Limited (the controlling shareholder of the Company), an overseas investment and financing platform under Shougang Group Co., Ltd. (Shougang Group, the ultimate controlling shareholder of the Company), the largest shareholder of the Company.

US Stock Market Move | Credit risk concerns persist, AI cloud service providers continue to decline, CoreWeave (CRWV.US) drops over 6%.

On Friday, AI cloud service providers continued to decline.

Wedbush: Anthropic's slowing revenue growth does not mean AI spending is slowing

Although Anthropic's third-quarter revenue may disappoint some investors, Wedbush Securities believes this is not a signal of slowing AI spending.

Apple Inc.(AAPL.US)'s first foldable iPhone Duo pre-orders sell out in seconds: shipping already pushed to January 2027, with 6 million units expected to be sold this year.

Apple iPhone Duo orders see shipping times pushed back to as late as 2027 amid pre-order frenzy.

Paul Chan: Financial development must serve the real economy; Hong Kong will focus on building the "four centers and one highland."

Hong Kong Financial Secretary Paul Chan continued his visit in Bangkok, Thailand today, attending the plenary session of the International Monetary Fund (IMF) and World Bank Group Annual Meetings as a member of the Chinese delegation.

Hong Kong Housing Bureau: All 13 Light Public Housing projects to be completed by first quarter of next year, providing about 30,000 units.

All 13 Light Public Housing projects will be completed within just over four years, and applications are being accepted for all about 30,000 Light Public Housing units.

The Hong Kong Securities and Futures Commission has approved that starting from November 2, Bond Connect bonds and others can be used as non-cash collateral.

This optimization further implements the arrangements announced by the SFC, the Hong Kong Monetary Authority, and the People's Bank of China on July 7, accepting Bond Connect bonds as eligible non-cash collateral for the Hong Kong derivatives market.

Morningstar: Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) stated it will "not leave food on the table," signaling increased investment in AI chips.

Morningstar still believes TSMC's fair value is $534, leaving about 26.5% upside from Thursday's closing price.

YIDA CHINA (03639) contracted sales amount for the first 9 months was approximately RMB 390 million, a year-on-year decrease of 31.82%.

Yida China (03639) announced that in September 2026, the Group's contracted sales amount was approximately RMB 61 million, and the Group's attributable contracted sales amount was approximately RMB 46 million. During the same period, the Group's sales area was 7,316 square meters and attributable sales area was 4,611 square meters. The Group's average selling price was approximately RMB 8,402 per square meter, and the attributable average selling price was approximately RMB 9,928 per square meter.

Domestic futures night session opens.

Lithium carbonate fell 4.20% for consecutive sessions, apple fell 3.32% for consecutive sessions, coking coal fell 2.69% for consecutive sessions, palladium rose 1.90% for consecutive sessions, and fuel oil rose 1.89% for consecutive sessions.

Roadster's showmanship ignites the AI narrative: Ives says the probability of a merger between Tesla, Inc. (TSLA.US) and SpaceX has reached 80%.

Tesla, Inc. (TSLA.US) held a highly anticipated Roadster demonstration event at the SpaceX test site near Waco, Texas.

CHI MER LAND (00978) intends to acquire a 50% equity interest in Foshan Yiyun Real Estate Co., Ltd.

China Merchants Land (00978) announces that on 16 October 2026, Guangzhou China Merchants Real Estate Co., Ltd. (Guangzhou China Merchants), an indirectly wholly-owned subsidiary of the Company, entered into an equity transfer agreement with Wharf Real Estate (Guangzhou) Limited (Wharf Guangzhou) and Foshan Yiyun Real Estate Co., Ltd. (the Target Company), pursuant to which Wharf Guangzhou agreed to transfer to Guangzhou China Merchants its 50% equity interest in the Target Company at a consideration of approximately RMB938 million, together with approximately RMB185 million of creditor's rights that Wharf Guangzhou holds against the Target Company's project company, while Guangzhou China Merchants will assume approximately RMB1,008 million of debts owed by Wharf Guangzhou to the Target Company. Upon completion of the acquisition, the Target Company will become an indirectly wholly-owned subsidiary of the Company.

Four departments: Over 30 automakers convened for discussion to strengthen management of automotive product R&D, testing, and validation

The meeting required that automobile manufacturing enterprises thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council, carry out the requirements of the special action for quality improvement, resolutely resist irrational competition, strengthen innovative design and R&D testing and validation management of automotive products, and firmly safeguard the bottom line of product safety.

Robotechnik Intelligent Technology (03757) actual controller, chairman and CEO proposes share repurchase of the company

Robotechnik Intelligent Technology (03757) announced that on October 16, 2026, the company received a letter from Mr. Dai Jun, the company's actual controller, chairman and CEO, proposing a share repurchase of Robotechnik Intelligent Technology Co., Ltd. Mr. Dai Jun proposed that the company use its own funds or self-raised funds to repurchase part of its issued RMB ordinary shares (A shares) through the Shenzhen Stock Exchange trading system by way of centralized bidding, with the total amount of funds for the share repurchase not less than RMB 50 million (inclusive) and not more than RMB 100 million (inclusive).

MSCI to remove Strategy (MSTR.US) from its indexes: $2.8 billion in passive selling pressurewhat's truly frightening is the "buy-Bitcoin flywheel" stalling?

Under the new rules, Strategy faces the risk of being removed from MSCI indexes, putting billions of dollars in passive holdings at risk.

AI neoclouds enter a period of divergence: financing model becomes key, CoreWeave (CRWV.US) and IREN (IREN.US) under pressure while Nebius (NBIS.US) gains support

CoreWeave (CRWV.US) is becoming a microcosm of the bull-bear divergence in the AI trade. In premarket trading on Friday, the stock fell more than 5%, leading declines in the neocloud sector.

A-Share Announcement Highlights | Fluorochemical leader's net profit expected to surge 12-fold; ST Konka A to be delisted within 5 trading days.

Yongtai Technology: Net profit for the first three quarters increased 1221.81% year on year, with lithium battery sales growing significantly.

Is the risk of "reckoning" approaching? After the midterm elections, congressional control may change hands. Apple, Palantir, and other US companies are preparing for a Democratic "subpoena storm."

The business community views the impending head-on confrontation as a crisis and is pouring in money as if responding to an emergency.

FORTIOR (01304) Issues Profit Alert, Expects Net Profit Attributable to Parent of Approximately RMB 284 Million for First Three Quarters, Up 69.69% Year-on-Year

FORTIOR (01304) has issued an announcement, expecting operating revenue for the nine months ended September 30, 2026 (the reporting period) to be approximately RMB 842 million, representing a year-on-year increase of 50.88% compared with approximately RMB 558 million for the same period last year; total profit for the reporting period is expected to be approximately RMB 311 million, representing a year-on-year increase of 78.56% compared with approximately RMB 174 million for the same period last year;

UK bank tax storm: Fiscal gap-filling and financial stability caught in a dilemma, the game between Chancellor Healey and Central Bank Governor Bailey escalates.

UK Chancellor John Healey plans to raise taxes on banks in the October 28 budget to fill a fiscal buffer that has shrunk sharply due to war-driven borrowing costs.

ILUVATAR COREX (09903) proposes to implement full circulation of H shares.

ILUVATAR COREX (09903) announces that on October 16, 2026, the Company submitted a filing application to the CSRC in relation to the conversion of 27.647 million unlisted shares of the Company with a par value of RMB1.0 each held by certain domestic shareholders of the Company into H shares of the Company with a par value of RMB1.0 each, representing approximately 3.42% of the total issued share capital of the Company as at the date of this announcement.

Preview of US Stock Market | U.S. stock index futures mixed, Tesla rises premarket, Warsh boosts market expectations that the Fed will hold steady in October

On Friday, October 16, before the U.S. stock market opened, the three major U.S. stock index futures were mixed.

Centaline: CCL falls 0.71% week-on-week, hitting a more than two-month low; new launches and rate hikes weigh on secondary transactions.

The latest Centaline City Leading Index (CCL) stands at 160.05 points, down 0.71% week-on-week, hitting a 10-week (more than two-month) low since early August 2026.

BofA: Bull & Bear Indicator falls back to 7.4, sell signal ends but short-term stance remains defensive

BofA Bull & Bear Indicator falls back, ending the market sell signal previously triggered.

U.S. steel prices hit a more than four-year high! Trump's tariffs tighten imports, steel mill stocks benefit while data center developers and others come under pressure.

Trump's tariff policies took effect, pushing U.S. steel prices to a four-year high.

WEIGAO GROUP (01066) will distribute an interim dividend of HK$0.0996 per share on November 20.

WEIGAO GROUP (01066) has announced that it will distribute an interim dividend of HK$0.0996 per share for the six months ended June 30, 2026, on November 20, 2026.

Trading Alert: Chung Yeung Festival Holiday Approaching, Hong Kong Stocks to Close for One Day on October 19

October 19 is the Chung Yeung Festival holiday in Hong Kong. The Hong Kong stock market will be closed for one day on October 19 (Monday) and will resume trading on October 20 (Tuesday).

GON TECHNOLOGY (02768): Profit alert materializes + cross-industry pressure mounts, goodwill and cash flow challenges await resolution.

The misalignment between profit alerts and hidden concerns.

AUSTRAX HLDGS (02680) issues a profit warning, expecting a mid-term loss attributable to shareholders and total comprehensive expenses of approximately HK$4.8 million to approximately HK$5.9 million, turning from profit to loss year-on-year.

AUSTRAX HLDGS (02680) announced that the Group is expected to record a loss attributable to shareholders and total comprehensive expenses of approximately HK$4.8 million to approximately HK$5.9 million for the six months ended 31 August 2026, as compared to a profit attributable to shareholders and total comprehensive income of approximately HK$18.3 million for the six months ended 31 August 2025.

New Stock News | Youibot's Hong Kong IPO and Full Circulation of Domestic Unlisted Shares Filed with the CSRC

On October 16, the International Cooperation Department of the China Securities Regulatory Commission issued the "Filing Notice on the Overseas Issuance and Listing of Hefei Youibot Robotics Co., Ltd. and the 'Full Circulation' of Domestic Unlisted Shares."

SCIENTECH (02291) repurchased 50,000 shares for approximately HK$661,100 on October 16.

SCIENTECH (02291) announced that on October 16, 2026, it repurchased 50,000 shares for approximately HK$661,100.

MSCI downgrade warning sparks fears of foreign capital flight! Indonesia hit by triple sell-off in stocks, bonds, and currency; stock market suffers worst decline in nearly 30 years.

After index compiler MSCI said it was considering downgrading Indonesia's stock market rating and removing it from its global indexes, sparking fears of capital outflows, Indonesia was hit by a triple sell-off in stocks, bonds, and the currency.

Lens Technology (06613) plans to acquire a 59.7805% stake in PMG International for US$25 million.

Lens Technology (06613) announced that on October 16, 2026, the company (the buyer) signed a Share Purchase Agreement regarding 59.7805% of the shares of PMG International Co., Ltd. with Mr. Lu Songshou (the seller), PMG International, Yuanshi Technology, and Lu Shaohua, pursuant to which the company conditionally agreed to purchase approximately 2.989 million ordinary shares of PMG International held by Mr. Lu Songshou, representing 59.7805% of the entire issued share capital of PMG International, for a consideration of US$25 million.

RONSHINECHINA (03301) total contracted sales for the first 9 months were approximately RMB 1.88 billion, a year-on-year decrease of 37.33%.

Ronshine China (03301) announced that for the month ended September 2026, (i) the Group's total contracted sales were approximately RMB 149 million, a year-on-year decrease of 50.66%; (ii) the Group's contracted gross floor area was approximately 15,200 sq.m.; and (iii) the Group's average contracted selling price was approximately RMB 9,791 per sq.m.

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According to Axios, John Felton, Chief Financial Officer of Amazon's (AMZN.O) cloud service (AWS), said that spending on AI infrastructure and services is sustainable because the related investments are driving substantive innovation. Felton said AWS's AI capital expenditures are generating returns, and companies should view AI as a tool for boosting productivity, not just as a means of cutting costs. Felton also said that as of the second quarter, AWS's order backlog was close to $500 billion, with customers ranging from large enterprises and AI labs to small and medium-sized businesses, so he is "comfortable" with the company's capital expenditure arrangements, and stressed: "The demand is real." He also said that the payback period for AWS's AI server investments is less than three years. As for whether AI investments can continue to generate returns, Felton said AWS's internal data shows an "approximately linear relationship" between token usage and productivity gains. AWS is currently achieving "significant return on investment and productivity gains," and plans to further expand related investments.

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