Flash News

TREE NEWS update: Wang Li, deputy director of the China Securities Regulatory Commission’s general office, said on October 12 at a press conference for the 2026 Financial Street Forum that the CSRC will explore systems and practices better suited to innovative small and medium-sized enterprises. Over the past five years, he said, the regulator has pushed forward high-quality market development, with the Beijing Stock Exchange operating safely and stably and its functions effectively brought into play.

TREE NEWS update: Micro-Nano Nano announced a plan to issue A-shares to no more than 35 specific investors, raising up to RMB 4.944 billion. Proceeds would fund RMB 729 million for a Wuxi advanced semiconductor equipment industrialization upgrade, RMB 289 million for a central China semiconductor equipment project, RMB 3.225 billion for a cutting-edge thin-film deposition R&D center, and RMB 700 million for working capital. The issuance still requires shareholder approval, Shanghai Stock Exchange review and CSRC registration.

TREE NEWS update: Hengtong plans to inject RMB330 million in cash into its wholly owned subsidiary Hengtong Precision Copper Foil Technology (Deyang), lifting the unit’s registered capital from RMB900 million to RMB1.23 billion. The subsidiary will remain wholly owned and manufactures specialized electronic materials.

TREE NEWS update: Cambricon, the Chinese AI chip developer, said it currently has no cooperation with Megmeet on power supplies, responding to an investor question on an exchange platform. The company said it has focused since inception on R&D and innovation in AI chip products, with its main business being the design and sale of AI core chips for cloud servers, edge computing devices and terminals.

TREE NEWS update: HSBC plans to reform its compensation system for senior bankers so that pay is tied more closely to performance. The change covers the bank’s top-level banking staff, with the aim of tightening the link between remuneration and results.

TREE NEWS update: Cambricon said its general-purpose AI chips are designed for a wide range of artificial intelligence applications, responding to an investor question about whether the company has actual business cooperation with DeepSeek. The investor asked why the DeepSeek-V4 preview release only mentioned the Ascend 950 supernode and not Cambricon’s products. The company’s October 12 reply did not confirm any partnership with DeepSeek.

TREE NEWS update: Solana treasury company SkyAI (SKYA) plans a cash tender offer to buy up to 95% of its outstanding common shares and warrants at $3 each, covering roughly 46.4 million shares and 20.7 million warrants for a maximum total of about $201 million. The company said it expects to fund the offer with existing cash and proceeds from selling its Solana holdings. The tender is expected to launch Thursday and run for 10 business days, subject to extension or early termination.

TREE NEWS reports: Hong Kong’s Hang Seng Index closed 0.25% higher, while the Hang Seng Tech Index fell 0.67%. Property and materials names led the declines: R&F Properties dropped about 13%, Shimao Group about 16%, Ganfeng Lithium about 7%, Laopu Gold about 8%, YOFC about 7%, Zhongji Innolight about 7% and Xiaomi Group about 6%.

TREE NEWS update: Shenzhen-listed Ultrasonic Electronics said it expects net profit of 340 million to 360 million yuan for the first three quarters of 2026, up 90.78% to 102.00% from 178 million yuan a year earlier. Non-recurring net profit is forecast at 335 million to 355 million yuan, up 89.14% to 100.43%, with basic EPS of 0.6073 to 0.6431 yuan. The company cited a strong copper-clad laminate market, full order books, rising prices and higher capacity utilization at its PCB business.

TREE NEWS update: Cambricon reported its first full-year profit for 2025, with revenue of 6.497 billion yuan, and said first-half 2026 revenue rose 108.13% year-on-year to 5.996 billion yuan. Net profit attributable to shareholders in the period reached 2.311 billion yuan, up 122.61%. The company was responding to an investor question about chip delivery progress and a 25% year-to-date share price drop below its placement price.

TREE NEWS update: UK bitcoin treasury company The Smarter Web Company raised $13.25 million through a preferred share issuance. Its $MORE shares will begin trading on the London Stock Exchange main market on Wednesday, with the first weekly dividend scheduled for November 9. Of the proceeds, 47.93% is earmarked for buying additional bitcoin, 46.08% for working capital and general corporate purposes, and 5.99% for business growth.

TREE NEWS update: Jinduicheng Molybdenum reported preliminary results for the first three quarters of 2026, with revenue of 12.446 billion yuan, up 14.34% year-on-year, and net profit attributable to shareholders of 2.994 billion yuan, up 30.94%. The company attributed the profit growth mainly to higher molybdenum product prices versus a year earlier, alongside tighter cost controls and expanded new product and market development.

TREE NEWS reports: Thirteen of 16 new funds listed on the Hong Kong stock market between Sept 28 and Sept 30 were 60/40 structure ETFs. Industry participants say institutions are actively positioning in these ETFs because they qualify for inclusion in ETF Connect, which would draw more capital into Hong Kong’s ETF market once access is granted.

TREE NEWS reports: Combined turnover on the Shanghai and Shenzhen stock exchanges totaled 1.537831 trillion yuan on October 12. The Shanghai market accounted for 714.910 billion yuan, while the Shenzhen market contributed 822.921 billion yuan. The ChiNext board recorded 394.480 billion yuan in turnover.

TREE NEWS reports: European equity benchmarks opened higher, with the Euro Stoxx 50 up 0.4%, Germany’s DAX up 0.4%, the UK’s FTSE 100 up 0.4% and France’s CAC 40 up 0.3%. The broad-based gains put all four major indices in positive territory at the open.

TREE NEWS reports: China’s ChiNext Index closed down 2.61% on thin volume, leading a broad A-share decline that saw more than 4,300 stocks fall across the Shanghai, Shenzhen and Beijing exchanges. Shanghai Composite slipped 0.43% and the Shenzhen Component fell 2.03%, with combined turnover at 1.55 trillion yuan. Bank shares bucked the trend, with Bank of China, ICBC, China Construction Bank and CITIC Bank hitting record highs, while Kweichow Moutai regained its position as the market’s most valuable stock.

TREE NEWS reports: China’s benchmark Shanghai Composite closed 0.43% lower at 3,797.24, while the Shenzhen Component fell 2.03% to 12,384.87 and the ChiNext Index dropped 2.61% to 2,963.82. The CSI 300 slipped 0.68% to 4,287.98, and the STAR 50 declined 2.10% to 1,426.72. The CSI 500 lost 2.18% to 7,093.02 and the CSI 1000 fell 1.88% to 7,021.47.

TREE NEWS reports: Broadcom CEO said most companies are not getting a return on their investment in AI computing. The remark, made by the head of the US chipmaker, questions whether the massive capital being poured into AI data centers and compute infrastructure is paying off for corporate buyers.

TREE NEWS reports: Billion-yuan private fund founder Liang Hong said an insurance asset management giant bought heavily into tech stocks at July highs and then sharply cut positions in late September, triggering the recent tech sector selloff. In his weekly report, Liang attributed the decline to capital flows rather than fundamentals, calling the large institution’s chase-high, sell-low behavior puzzling.

TREE NEWS reports: Kweichow Moutai rose nearly 2% intraday, retaking the title of China’s most valuable listed stock, while Lianxun Instruments fell more than 7.5% on the day and briefly lost the 1,285 yuan level, pushing its total market capitalization below 200 billion yuan. The two moves marked a sharp reversal in the battle for the A-share market’s top spot.