GMT EIGHT - OPPORTUNITIES IN CHINA

ROBOSENSE (02498) Q3 LiDAR product sales approximately 595,600 units, up 53.15% quarter-on-quarter.

RoboSense (02498) announced that the Group continued to expand its business footprint during the first three quarters of 2026.

Nearly $500 billion in new debt looms, and tech giants' AI infrastructure financing raises default concerns.

The AI race is pushing the U.S. corporate bond market to a new pressure point. In the over $10 trillion U.S. corporate bond market, investors are growing increasingly uneasy about tech giants' massive financing for AI infrastructure.

New Stock News | Pinnacle Marine Files with Hong Kong Stock Exchange

According to a disclosure by the Hong Kong Stock Exchange on October 8, Pinnacle Marine Holdings Ltd has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with Tongren Financing as its sole sponsor.

Overnight US stocks | AI earnings concerns resurface, Nasdaq falls over 1%, Micron Technology, Inc. (MU.US) drops over 4%

At the close, the Dow Jones Industrial Average rose 52.61 points, or 0.10%, to 51,232.48; the S&P 500 fell 36.35 points, or 0.47%, to 7,765.42; the Nasdaq Composite fell 345.35 points, or 1.25%, to 27,193.34.

OpenAI's latest revenue data sparks market concerns, AI concept stocks broadly decline, NVIDIA Corporation (NVDA.US) falls nearly 3%.

As OpenAI's latest financial data comes to light, the market is once again questioning the relationship between revenue growth and massive capital expenditures in the artificial intelligence industry, and U.S. AI concept stocks have broadly declined.

St. Louis Fed President: Further rate hikes still needed over the next 6 to 9 months; inflation is the top issue for the U.S. economy

St. Louis Fed President Musalem said on Thursday that the Fed still needs to raise interest rates further in order to bring U.S. inflation back to its 2% target in a timely manner.

US Treasury yields surge to 24-year high; US Treasury advisor expects a pullback in the future as AI investment and energy shocks drive up borrowing costs.

David Zervos, a senior advisor to U.S. Treasury Secretary Bessent and a Wall Street veteran, said on Thursday that although U.S. Treasury yields have recently surged to multi-decade highs, current real yields are already clearly elevated relative to historical levels, leaving room for a pullback in the future.

Trump tariffs drive up US consumer costs; New York Fed: prices of affected goods rose nearly 3%, impact may last until 2027

The latest research from the New York Fed shows that the tariff policies implemented by U.S. President Trump have significantly driven up the cost for American consumers of purchasing everyday goods.

Several violent explosions occurred on the southern shipping route of the Strait of Hormuz.

Unnamed military sources said that on Thursday evening, several "violent explosions" occurred in the Strait of Hormuz after "violating oil tankers" struck mines while attempting to sail along the southern route. The sources did not disclose the identity of the vessels involved, nor did they provide details on casualties or damage.

U.S. stocks close: The three major stock indexes closed mixed.

The Dow rose 0.10%, the S&P 500 fell 0.47%, and the Nasdaq dropped 1.25%. Coherent Corp fell 9.62%, Astera Labs Inc dropped 9.25%, CoreWeave declined 7.78%, NBIS fell 7.35%, Costar rose 8.01%, GoDaddy gained 6.20%, and Chipotle rose 6.10%. Among the "Magnificent Seven": Apple rose 1.11%, Meta Platforms fell 0.06%, Google dropped 0.72%, Tesla declined 0.74%, Microsoft fell 1.35%, Amazon dropped 2.25%, and Nvidia fell 2.94%.

Apple plans to launch a touchscreen Mac and iPad Mini by the end of October.

Trump: Will not attack Iran before the US midterm elections.

US Stock Market Move | SuperX AI Technology (SUPX.US) once fell more than 2.5%, hitting an intraday low of $6.46.

SuperX AI Technology's stock price declined, once falling more than 2.5%.

US Stock Market Move | Popular Chinese concept stocks fell broadly, with VNET Group, Inc. Sponsored ADR (VNET.US) dropping nearly 3%.

On Thursday, the Nasdaq Golden Dragon China Index fell 1.15%, with popular Chinese concept stocks declining broadly, and VNET Group, Inc. Sponsored ADR (VNET.US) dropping 2.78%.

US Stock Market Move | NXP Semiconductors NV (NXPI.US) falls over 3% after Citi sharply cuts its target price.

On Thursday, NXP Semiconductors NV (NXPI.US) fell over 3% to $227.35.

US Stock Market Move | Cryptocurrency-related stocks broadly decline, Hut 8 (HUT.US) drops over 7%.

On Thursday, cryptocurrency-related stocks broadly declined, with Hut 8 (HUT.US) dropping over 7%.

US Stock Market Move | Biotech sector broadly declines; Merck & Co., Inc. (MRK.US) falls over 2%.

On Thursday, the biotech sector broadly declined, with Eli Lilly (LLY.US) falling over 3% and Merck & Co., Inc. (MRK.US) dropping more than 2%.

AI infrastructure boom spills over into banking: Wall Street's six largest banks may issue $41 billion in bonds in the fourth quarter.

As artificial intelligence (AI) infrastructure development continues to drive growing financing demand, major Wall Street banks are preparing to extend a months-long bond issuance boom.

CNBM (03323): China United Investment subscribes to 15.9562 million shares of Sinoma Science & Technology

China National Building Material (03323) announces that China United Investment (a wholly-owned subsidiary of the Parent, which is the controlling shareholder of the Company) has entered into a non-legally binding share subscription agreement with Sinoma Science & Technology (a non-wholly-owned subsidiary of the Company listed on the A-share market) in respect of the proposed placement of new shares by Sinoma Science & Technology for a cash consideration.

A-share Evening Hotspots | Another bearish signal from the Middle East, European and U.S. markets plunge across the board! Oil prices surge 5%.

U.S. President Donald Trump said on Wednesday that he no longer wants to reach a deal with Iran. This followed reports that the U.S. military is preparing for a possible military strike against Iran, which could very likely be launched before the U.S. midterm elections.

US Stock Market Move | Chip stocks broadly decline, Intel Corporation (INTC.US) falls over 3%.

On Thursday, chip stocks broadly declined, with Intel Corporation (INTC.US) falling over 3% and SanDisk (SNDK.US) dropping nearly 3%.

U.S. retail funds are flowing back into tech stocks. JP Morgan: NVIDIA Corporation (NVDA.US) attracted $834 million last week, memory chip stocks are in favor.

JPMorgan's latest research report shows that as U.S. stocks entered October, retail investors' trading sentiment began to improve, with funds flowing back into the technology sector.

Shenwan Hongyuan Group (06806) will distribute an interim dividend of RMB0.5 per 10 shares on December 31.

Shenwan Hongyuan Group (06806) has announced that it will distribute an interim dividend of RMB0.5 per 10 shares for the six months ended June 30, 2026, on December 31, 2026.

US Stock Market Move | Optical communication concept stocks fell broadly, with Applied Optoelectronics (AAOI.US) dropping over 5%.

On Thursday, optical communication concept stocks fell broadly, with Applied Optoelectronics (AAOI.US) dropping over 5%.

Jiangsu Lopal Tech. Group (02465): Abnormal fluctuations in A-share stock trading; there are no major matters or information that should be disclosed but have not been disclosed.

Lopal Tech (02465) announced that the closing prices of the Company's A-shares rose by a cumulative deviation of more than 20% over two consecutive trading days on September 30, 2026 and October 8, 2026. In accordance with the relevant provisions of the Shanghai Stock Exchange Trading Rules, this constitutes an abnormal fluctuation in stock trading.

Jiangsu Lopal Tech. Group (02465)'s second-tier controlling subsidiary, Nanjing Lihyuan, signed a Strategic Cooperation Framework Agreement with Jiyao Tongxing.

Lopal Tech (02465) announced that its second-tier controlling subsidiary, Nanjing Lihyuan Nanotechnology Co., Ltd. (hereinafter referred to as "Nanjing Lihyuan"), signed a Strategic Cooperation Framework Agreement (hereinafter referred to as the "Agreement") with Zhejiang Jiyao Tongxing Energy Technology Co., Ltd. (hereinafter referred to as "Jiyao Tongxing"). The Agreement stipulates that, provided the product settlement price is competitive and the delivery cycle, quality, and technology meet requirements, Nanjing Lihyuan and its affiliated production parties shall, during the period from 2026 to 2030, sell a total of 378,600 to 567,800 tonnes of lithium iron phosphate cathode materials to Jiyao Tongxing, with the specific sales volume determined by orders. The specific unit price is subject to fluctuations in the prices of major raw materials and shall be determined monthly by both parties in accordance with the terms of the Agreement.

Realord Group Holdings Limited (01196) subsidiary enters into a memorandum of understanding in respect of a possible artificial intelligence data center development project in Malaysia

Realord Technology Holdings (01196) announced that on October 8, 2026, the Company's indirectly wholly-owned subsidiary, Realord Intelligent Computing Technology Group Limited (Realord Intelligent Computing), entered into a memorandum of understanding with Longma Intelligent Computing Investment Limited (the project promoter) in respect of a possible project in Johor, Malaysia, involving the design, construction, ownership and operation of the Group's artificial intelligence data center.

US Layoff Wave Fails to Materialize: Initial Jobless Claims Fall to 197,000, Lowest Since July

U.S. initial jobless claims fell to 197,000 last week, the lowest since July, staying below 200,000 for a fourth straight week, indicating limited layoffs.

US midterm elections enter the final sprint month: AI regulation, healthcare subsidies, and defense budget become Wall Street's three major trading themeswhich sectors are most at risk?

As the U.S. midterm election campaign enters its final, intense month, government spending on artificial intelligence (AI) regulation, healthcare, and defense is becoming the central focus for stock investors.

DONGYUE GROUP (00189): Shandong Dongyue Silicone Material expects net profit attributable to shareholders for the first three quarters to be RMB 547 million to RMB 567 million, a year-on-year increase.

DONGYUE GROUP (00189) announced the earnings forecast for the first three quarters of 2026 of its non-wholly-owned subsidiary Shandong Dongyue Silicone Material Co., Ltd. The forecast states that for the three months ended September 30, 2026, the net profit attributable to shareholders of Dongyue Silicone Material is expected to be a profit of RMB 547 million to RMB 567 million, compared with a profit of approximately RMB 2.857 million in the same period last year; the net profit after deducting non-recurring gains and losses is expected to be a profit of RMB 589 million to RMB 609 million, compared with a profit of approximately RMB 11.821 million in the same period last year.

Fed Governor Waller strikes a hawkish tone while leaving room: inflation decline needs more rate hike support, no need to move every month.

Federal Reserve Governor Waller said that if the data meet expectations, further rate hikes will be appropriate; core PCE at 3% year-over-year remains too high, and policy will focus on fighting inflation in the near term.

AI rack upgrades enter the "battle for system efficiency"! As the OCP Summit approaches, Jefferies decodes 1.6T volume ramp, memory expansion, and high-voltage power delivery.

AI rack upgrades are entering a "battle for data transmission efficiency": as cluster scale expands, the bandwidth, latency, and energy consumption of high-speed interconnects increasingly affect GPU utilization and overall compute output.

SIHUAN PHARM (00460) makes a strategic investment in Hanteng Biotech to improve the layout of the entire regenerative medical aesthetics industry chain.

SIHUAN PHARM (00460) announced that recently, Meiyan Space Biotechnology (Jilin) Co., Ltd. (Meiyan Space), a subsidiary of the Group, has completed a strategic equity investment in Guangzhou Hanteng Biotech Co., Ltd. (Hanteng Biotech). At the same time, the two parties plan to carry out joint commercialization cooperation around the commercial sales of Hanteng Biotech's full-length triple-helix recombinant human collagen raw material (the raw material). Meiyan Space will develop a series of collagen medical aesthetics formulation products based on the raw material, to improve the Group's layout of the regenerative medical aesthetics business.

Hong Kong Commerce and Economic Development Bureau: Deepen Hong Kong-Mainland economic and trade cooperation, continue to expand international networks.

On one hand, Hong Kong should seize the opportunities brought by the development of the Guangdong-Hong Kong-Macao Greater Bay Area and deepen economic and trade cooperation between Hong Kong and the mainland; on the other hand, it should also continue to expand its international networks, make good use of Hong Kong's advantage as a connector between the mainland and the world, and turn cooperation opportunities into tangible results.

Xie Xiaohua: Continue building the "Greater Bay Area on Rails"; the Hong Kong-Shenzhen Western Railway and Northern Link spur line projects are being advanced at full speed.

Xie Xiaohua mentioned that efforts will continue to build the "Greater Bay Area on Rails." As stated in the Policy Address, the authorities are pressing ahead at full speed with the Hong Kong-Shenzhen Western Railway and the Northern Link spur line projects.

CAAC: Further improve sector flight volume review indicators to guide airlines in reasonably arranging capacity deployment.

CAAC issues the "Optimization Measures for Domestic Route Flight Review."

RIDGE OUTDOOR (02720) subsidiary intends to acquire the operating assets of the UK fishing rod brand Harrison Advanced Rods.

RIDGE OUTDOOR (02720) announced that on September 30, 2026, the Company's subsidiary Harrison Advanced Rods Ltd (the Buyer) entered into an asset purchase agreement with Suremag Limited (the Seller), pursuant to which the Buyer intends to acquire the operating assets of the "Harrison Advanced Rods" brand (Harrison) owned by the Seller.

PLUS GP HOLDING (02486) subsidiary intends to acquire the remaining 40% equity interest in Shanghai Subide and the remaining 40% equity interest in Shanghai Suditong.

PLUS GP HOLDING (02486) announced that on October 8, 2026, PLUS Shanghai, a wholly-owned subsidiary of the Company, entered into the equity transfer agreements with Ms. Wu Yunqiu, pursuant to which PLUS Shanghai conditionally agreed to acquire, and Ms. Wu Yunqiu conditionally agreed to sell, a 40.0% equity interest in Shanghai Subide and a 40.0% equity interest in Shanghai Suditong, for a cash consideration of RMB21.64 million and RMB19.24 million, respectively.

A-share Announcement Highlights | Net profit forecast to rise by more than 190 times at most! Multiple companies report good Q3 results.

BenChuan Intelligence announced that it is expected to report net profit attributable to shareholders of the listed company of RMB 96 million to RMB 144 million for the first three quarters of 2026, a year-on-year increase of 190.24% to 335.36%.

The 2026 Nobel Prize in Literature is announced.

The Swedish Academy announced that the 2026 Nobel Prize in Literature is awarded to Canadian poet Anne Carson, in recognition of "her bold and creative literary work."

National Energy Administration: Average daily charging volume for new energy vehicles on highways during the National Day holiday increased by 51.42% year-on-year.

The National Energy Administration stated in a document that, based on statistical analysis of 62,700 highway charging facilities (guns) included in the national charging facility monitoring service platform, from 0:00 on October 1 to 24:00 on October 7, the total number of charging sessions for new energy vehicles on China's highways was 6.711 million, the charging volume reached 163 million kWh, and the average daily charging volume was 23.2566 million kWh, with the average daily charging volume increasing by 51.42% year-on-year.

NEW SILKROAD (00472): Subsidiary proposes to acquire 224,200 shares of i-Aurora Co., Ltd. and 90,500 shares of &SOUL Co., Ltd. for a total consideration of KRW 5 billion

New Silkroad Holdings Group (00472) announced that on 8 October 2026 (after trading hours), KSR, an indirect non-wholly-owned subsidiary of the Company, entered into the i-Aurora Share Purchase Agreement, the &SOUL Share Purchase Agreement and the Subscription Agreement in respect of the investment, pursuant to which:

Industrial and Commercial Bank of China (01398)'s application for issuing A-shares to specific targets has been accepted by the Shanghai Stock Exchange.

Industrial and Commercial Bank of China (01398) announced that on October 8, 2026, the Bank received the "Notice on Accepting the Application of Industrial and Commercial Bank of China Limited, a Company Listed on the Main Board of the Shanghai Stock Exchange, for Issuance of Securities" (SSE Review (Refinancing) [2026] No. 322) issued by the Shanghai Stock Exchange (the "SSE"). In accordance with relevant regulations, the SSE reviewed the prospectus and related application documents for the issuance of securities by the Bank as a company listed on the main board of the Shanghai Stock Exchange, and considered that the application documents were complete and in compliance with statutory form. The SSE decided to accept the application and conduct review in accordance with the law.

Preview of US Stock Market | All three major stock index futures fell together, oil prices surged over 4%, SpaceX, Broadcom, and Oracle simultaneously pushed forward with chip financing.

On October 8 (Thursday), before the U.S. stock market opened, all three major U.S. stock index futures fell together.

Deutsche Bank is bullish on the U.S. stock market's year-end rally: Q3 earnings growth is expected to remain at 34%, with AI and cyclical growth still strong.

Deutsche Bank expects S&P 500 Q3 earnings growth to remain at a record high of 34%, and is bullish on the earnings season rally and year-end rebound.

XIN YUAN ENT (01748) receives a full cash offer from Ocean Vivo at a premium of approximately 25.57%.

XIN YUAN ENT (01748) announced that on August 19, 2026, the offeror Ocean Vivo Limited notified the Company that it has a clear intention, subject to the fulfillment of preconditions, to make a voluntary conditional full cash offer through ICBC International Financing on behalf of the offeror, in accordance with the terms and conditions, to acquire all shares not already owned by the offeror and its concert parties. The offer price of HK$2.21 per share represents a premium of approximately 25.57% over the closing price of HK$1.76 per share on February 20, 2025.

Samsung and TSMC's blowout earnings fail to ignite an AI rally! U.S. Treasury yields hit a 24-year high, and the AI bull market faces a "computing power cash return stress test"

Samsung Electronics' quarterly operating profit increased nearly ninefold, and TSMC's sales rose 51%, reflecting the returns on sustained investment in AI infrastructure. However, investors are beginning to question how long AI spending can last, especially as rising global borrowing costs put pressure on companies' massive capital expenditure plans.

Costs Keep Rising, Recovery Lags: PepsiCo, Inc. (PEP.US) Lowers Guidance as North American Business Comes Under Pressure

PepsiCo lowered its full-year core earnings per share growth guidance to 1% to 2%, as North American recovery lags expectations and rising costs erode profit margins.

Hong Kong Property: In the first nine months of this year, the transaction value of Hong Kong's first-hand residential properties exceeded HKD 190 billion, a year-on-year surge of about 30.6%.

The year-on-year performance of first-hand transaction value was notable, mainly driven by the year-on-year improvement in transactions of mid-to-high-priced properties.

CONCORD NE(00182) September attributable power generation totaled 594.68GWh, up 4.78% year-on-year.

CONCORD NE (00182) announced that in September 2026, total attributable power generation amounted to 594.68GWh, up 4.78% year-on-year; of which, attributable wind power generation was 487.52GWh; attributable solar power generation was 107.16GWh. For January to September 2026, total attributable power generation was 6,189.36GWh.

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RoboSense (02498.HK) sold approximately 595,600 LiDAR units in Q3, up 53.15% quarter-on-quarter.

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Hainan Provincial Meteorological Observatory issues a yellow warning for maritime thunderstorms and gales

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Jefferies: Lowers Tencent (00700.HK) target price to HK$711, maintains "Buy" rating.

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Nearly $500 billion in new debt looms, and tech giants' AI infrastructure financing raises default concerns.

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