Day One of the 2026 National Reimbursement Drug List Negotiations: Representatives from Multiple Companies Display Visible Joy as Traditional Chinese Medicine and Chronic Disease Drugs Take Center Stage
The annual national medical insurance catalog negotiations have once again entered the stage of on-site bargaining.
Listed companies in the traditional Chinese medicine sector see declining revenue and profits amid rising R&D spending: Is the marketing logic shifting?
① In the first half of the year, listed companies in the traditional Chinese medicine (TCM) sector generally exhibited a trend of declining revenue, net profit, and marketing expenses, coupled with counter-cyclical growth in R&D spending; ② These shifts in financial indicators signal that the TCM industry is moving away from extensive, marketing-driven growth and entering a new development phase centered on innovation and compliance.
Interim dividend activity on the STAR Market heats up: 81 companies plan to distribute approximately RMB 6.7 billion in cash, with industry leaders topping the payout list.
① Under the combined influence of normalized regulatory guidance, the demonstrated resilience of listed companies' earnings, and sustained improvements in cash flow, enthusiasm for interim dividends in the A-share market continues to rise; ② A total of 81 companies listed on the STAR Market have announced their 2026 interim dividend plans, with a total dividend distribution amounting to approximately RMB 6.7 billion.
ChiNext computing power and fintech ETFs approved: How will incremental capital affect the market?
① The two indices have diverged in performance year-to-date. Industry analysts attribute this to sector divergence within the market and a lack of catalysts driving the rally. ② Looking ahead, both the ChiNext Computing Power ETF and the ChiNext Fintech ETF present investment opportunities worth monitoring.
"Supernatural Action Team" Drives Core Growth; Giant Network's H1 Net Profit Nearly Triples Year-on-Year | Financial Report Analysis
1) Flagship IPs such as "Supernatural Action Team" and "Zhengtu" continue to drive growth momentum; Giant Network's revenue for the first half of the year increased by 182.08% year-on-year, with net profit attributable to shareholders reaching RMB 2.144 billion, a year-on-year increase of 175.96%. 2) The company plans to distribute a cash dividend of RMB 8 for every 10 shares to all shareholders in the first half of the year, with the total cash dividend amounting to approximately RMB 1.515 billion.
As the AI Application Ecosystem Conference approaches, industrial chain implementation is accelerating, with these stocks frequently subject to institutional surveys.
The 2nd Shanghai AI Application Ecosystem Conference will be held from September 21 to 22, 2026.
Breaking: Trading suspension for regulatory review of optical communication concept stocks has been completed; trading to resume next Monday | After-hours Announcement Roundup
Zhongji Innolight: H1 net profit surged 242% year-on-year; proposes cash dividend of RMB 12 per 10 shares. Demand for high-end optical modules, including 800G and 1.6T models, has grown significantly.
[Daily Market Close] The three major indices closed slightly higher on shrinking volume and sideways trading, with over 4,000 stocks rising across the market as the pharmaceutical and biotechnology sector surged broadly.
① The market experienced full-day volatility and consolidation, with the three major indices ultimately closing slightly higher; combined trading volume for the Shanghai and Shenzhen markets shrank by more than RMB 400 billion compared to the previous day. ② In terms of sector performance, the pharmaceutical and biotechnology sector surged collectively, with vaccines, cellular immunotherapy, recombinant proteins, and gene editing leading the gains; precious metals and real estate also showed active trading.
Breakthrough in Therapeutic Vaccines: Can China’s mRNA Industry Chain Take the Baton?
1. Moderna's personalized mRNA cancer vaccine achieved positive progress in Phase III clinical trials, causing its stock price to surge by 176.97%; A-share vaccine stocks rallied collectively due to sentiment spillover. 2. Multiple domestic vaccine companies reported to journalists that they have established mRNA platforms, with some therapeutic vaccine pipelines entering early-stage clinical trials. 3. Segments of the industrial chain, including sequencing, AI-based neoantigen prediction, and LNP delivery, are expected to benefit; however, there remains a gap before commercial realization in China.
How are private equity funds with assets under management exceeding RMB 10 billion adjusting their portfolios? Twenty-one firms appear among the top ten shareholders of 31 A-share stocks.
① As of August 18, 21 private equity funds with assets under management exceeding RMB 10 billion appeared among the top ten tradable shareholders of 31 listed companies, holding a combined stake worth RMB 18.731 billion; ② Gaoyi Asset Management has reduced its holdings in Hikvision for seven consecutive quarters, while two products under the Chongyang Investment umbrella continued to increase their positions in the second quarter; ③ In the second quarter, these large-scale private equity funds established new positions in 19 stocks. Hongshida received simultaneous new investments from three institutions, with significant holdings concentrated in sectors such as machinery equipment and electronics.
Online rumors of "collective punishment" for drug discontinuation sound another alarm! As new regulations take effect and cases multiply, the pharmaceutical compliance crackdown enters a critical phase.
① A widely circulated coordination letter from the Second Xiangya Hospital regarding the "suspension of certain drugs" has drawn attention; Allist Pharmaceuticals stated it is verifying the authenticity of the document, while the hospital pharmacy reported that three of the mentioned drugs are currently out of stock; ② Since 2026, multiple cases of commercial bribery and penalties for academic promotion in the pharmaceutical sector have been continuously disclosed, with regulatory oversight extending from investigating kickbacks to covering the entire marketing process; ③ The implementation of new regulations, coupled with stricter compliance requirements, has accelerated adjustments in certain medical representative roles.
STAR Market Evening Wrap | Pinzhun Laser’s Top Floating Profit Reaches RMB 556,600; Purui Shares’ H1 Net Profit Surges 1,930% Year-on-Year
1. Allist responds to rumors that Xiangya Second Hospital has suspended procurement of furmonertinib mesylate tablets: The company is verifying the authenticity of the reports; 2. Espressif Systems: The actual controller proposes a share buyback program worth RMB 100 million to RMB 200 million; 3. Bluetrum Technology: Net profit for the first half of the year reached RMB 480 million, a year-on-year increase of 265.77%.
Stock price surges 12%! First interim report since state-owned capital took control: Revenue and net profit both rise. Has Kanghua Biological emerged from the trough? | Financial Statement Analysis
① Driven by core products such as the rabies vaccine, both revenue and net profit increased, while cash flow and return on equity (ROE) improved; ② Completed the first phase of investment in Nameixin, bolstering the mRNA platform and establishing synergistic R&D centers in Sichuan and Shanghai; ③ Following the change in control to state-owned capital, the strategy has been upgraded from “organic growth” to a dual-engine model of “industrial operations + industrial investment.”
Shanghai Industrial Capital’s RMB 1.5 Billion Phase II Fund Successfully Closed! Exclusive Interview with Liu Dawei on Decoding Investment "Blind Boxes"
① With the recent completion of the first closing of the Shanghai Biopharmaceutical Fund Phase II, raising RMB 1.5 billion, Shanghai Industrial Capital has effectively established a closed-loop investment framework covering the entire lifecycle of the biopharmaceutical sector. ② Each fund employs distinct strategies. As Liu Dawei stated, “Appetizers, hot soups, and desserts are prepared separately, with each dish requiring precise control of heat.” ③ Liu Dawei also provided insights into the future outlook and trends of the vaccine industry.
Weekend News Summary: Beijing Adjusts Home Purchase Policies; Unitree Technology Opens IPO Subscription on the 10th
① Apple's China website has removed the Apple Intelligence integration guide for Alibaba's Qwen; ② Longsys completed a RMB 3.7 billion private placement at an issue price of RMB 560 per share, representing a 45% premium over its latest closing price; ③ Is gold about to stage a comeback? Wall Street investment banks say now is an excellent time to buy.
The 'Chuang Series' index products expand, with 16 ETFs filed simultaneously, targeting computing power and financial technology.
① Ten asset managers have filed applications for ChiNext Computing Power ETFs, and six have filed for ChiNext Fintech ETFs; ② The two specialized indices provide investors with precise benchmarks for allocating capital to strategic emerging industries; ③ The related ETF products will offer institutional investors with medium- to long-term investment horizons differentiated asset allocation tools.
Has gold successfully found a floor at USD 4,000? Geopolitical risks combined with central banks' buying spree may propel gold prices back into an upward trajectory this year.
① On August 5, spot gold closed at USD 4,167 per ounce, up 2.09%, following a 0.56% gain on August 4 to close at USD 4,077 per ounce. ② Shares of multiple gold mining companies rose by more than 6%, with Sichuan Gold hitting the daily trading limit; most gold ETFs gained over 2%; and major jewelry retailers quoted gold prices above RMB 1,230 per gram. ③ Global total gold demand in Q2 2026 stood at 1,269 tonnes, unchanged year-over-year, while total demand for the first half of the year reached a record high.
Hangzhou’s visual industry surpasses RMB 1 trillion in revenue: How will China Vision Valley turn “seeing” into the next growth curve? | Vitality China Field Research
① At the boundary between Xiaoshan District and Binjiang District in Hangzhou, a 13.48-square-kilometer area is undergoing a quiet industrial transformation; ② This wave of industrial growth no longer merely involves installing more cameras, but rather enabling machines to move beyond image capture toward generating data and participating in decision-making; ③ The platform capabilities of leading firms, combined with the specialized technologies of niche enterprises, form an advantage in Hangzhou’s computer vision industry that is difficult to replicate.
Live from Day 1 of ChinaJoy: Generate a game prototype with one sentence; measure how 'hooked' you are via brainwaves
① Today, the 23rd China Digital Entertainment Expo (ChinaJoy) opened at the Shanghai New International Expo Centre; ② Companies including Tencent, Century Huatong, and Migu Games launched dedicated AI zones, showcasing in-depth applications of AI in game development and creative processes; multiple game publishers such as NetEase, Giant Network, and Perfect World also presented their popular IPs.
Deye Co., Ltd. (SHA: 605117) has submitted its IPO prospectus to the Hong Kong Stock Exchange, with CICC, CITIC Securities, and CMB International serving as joint sponsors | A-share company listing in Hong Kong
On July 28, 2026, Ningbo Deye Technology Corporation (hereinafter referred to as "Deye Technology"), an A-share listed company based in Beilun District, Ningbo, Zhejiang Province, submitted a prospectus to the Hong Kong Stock Exchange, seeking a listing on the Hong Kong Main Board. This marks its second application following the lapse of its initial submission on January 27, 2026. Deye Technology (SHA: 605117) was listed on the Shanghai Stock Exchange on April 20, 2021, and as of the close of trading on July 28, 2026, had a total market capitalization of approximately RMB 105.1 billion. Deye Technology