Zhitong Hong Kong stocks have long been known | Powell: US stock prices are relatively high, Innovation Airlines (03931) raised next year's shipment forecast

[Today's headlines]

Ministry of Industry and Information Technology: The penetration rate of the new passenger car market with integrated driver assistance systems exceeds 60%

The reporter learned from the Ministry of Industry and Information Technology that since this year, sales of new passenger cars equipped with integrated driver assistance systems have exceeded 60% of the market penetration rate. According to the latest data, from January to July 2025, sales of new passenger cars with integrated driver assistance systems in China were 7.76 million units, with a penetration rate of 62.6%, an increase of 5.7 million units or 40 percentage points over the same period in 2021. Combined driver assistance systems have become a highlight of new models on the market and an important consideration for consumers in purchasing. Relevant officials from the Ministry of Industry and Information Technology said that the mandatory national standard for integrated driver assistance systems has been publicly solicited for comments, and discussions will be held on the safety issues of intelligent connected vehicles at the 2025 World Intelligent Connected Vehicle Conference hosted by the Ministry of Industry and Information Technology, the Ministry of Transport, and the Beijing Municipal People's Government in the middle of next month.

At the same time, relevant officials said that China has clearly adopted intelligent connected vehicles as one of the eight major areas where the core competitiveness of the manufacturing industry has been enhanced. Over the past five years, China has introduced the “New Energy Vehicle Industry Development Plan” to deepen the direction of electrification, connectivity, and intelligent development, and has established a complete industrial chain system covering smart cockpits, autonomous driving, and connected cloud control. Hong Kong stocks in the smart driving-related industry chain include Baidu Group-SW (09888), Horizon Robotics (09660), Black Sesame Intelligence (02533), Sagiteng Juchuang (02498), Hesai-W (02525), and Youchao Innovation (02431).

[General outlook]

The Nasdaq China Golden Dragon Index closed down 2.22%

Overnight, the Dow Jones Industrial Average fell 88.76 points to close at 46292.78 points, or 0.19%; the S&P 500 stock index fell 36.83 points, or 0.55%, to close at 6656.92 points; and the Nasdaq Composite Index fell 215.51 points to close at 22573.47 points, or 0.95%. Major technology stocks generally fell, with Oracle falling more than 4%, Amazon by more than 3%, Nvidia by more than 2%, and Microsoft by more than 1%.

Popular Chinese securities generally fell, and the Nasdaq China Golden Dragon Index closed down 2.22%. Baidu fell more than 8%, Zhihu fell more than 5%, Bilibili fell more than 4%, Good Future, New Oriental fell more than 3%, and JD fell nearly 3%. The Hang Seng Index ADR declined. On a proportional basis, it closed at 26109.58 points, down 49.54 points, or 0.19%, from the Hong Kong closing.

International gold prices reached another record high. COMEX gold futures rose by 40.60 US dollars in the same month, an increase of 1.08%, to 3815.7 US dollars/ounce.

[Hot Topics Preview]

Powell: Monetary policy is still moderately restrictive, and stock market prices are relatively high

On Tuesday (September 23) local time, Federal Reserve Chairman Powell said that even after cutting interest rates last week, he still believes that the Fed's current monetary policy stance is “moderately limited,” which means that if policymakers continue to judge that the recent weakness in the labor market is more worrisome than a rebound in inflation, then there is room for further interest rate cuts this year. He pointed out that if interest rates are cut too fast and too large, inflation may continue to hover around 3% rather than the Fed's 2% target; conversely, if the austerity policy is maintained for too long, it may unnecessarily suppress the labor market. Powell responded, “We do pay attention to the overall financial environment and ask ourselves if our policies affect the financial environment in the way we expect. But you're right. Judging from many indicators, such as stock market prices, it's actually relatively high right now.”

Postbank (01658): Will absorb and merge its wholly-owned subsidiary Yuhui Wanjia Bank

The Postbank announced that in order to further optimize its management and business structure, the company will absorb and merge its wholly-owned subsidiary China Post Huiwanjia Bank Co., Ltd. After the merger was completed, the independent legal personality of Yuhui Wanjia Bank was cancelled in accordance with law, and all of its business, assets, debts and other rights and obligations were taken over by Postbank. The relevant rights and obligations of customers are not affected, and contracts and agreements that have been lawfully signed will continue to be valid. The merger still needs to be submitted to the shareholders' meeting for review and approval by the China Financial Supervisory Authority before it can be implemented.

Jinshan Cloud (03896): Plans to issue 282 million shares 80% of the capital to support artificial intelligence business

The Jinshan Yungang Stock Exchange announced that on September 23, 2025/September 23, 2025, it plans to sell 282 million shares of the Company's common shares to non-Americans by offshore trading outside the US in accordance with Regulation S under the 1933 US Securities Act; this placement will be limited by market conditions and other factors. The Company currently plans to use the net proceeds from the placement as follows before December 31, 2022:80% of the proceeds from the placement will be used to support the artificial intelligence business, including expanding infrastructure and enhancing cloud service capabilities, and 20% of the proceeds from the placement will be used to supplement working capital and other corporate purposes.

Weimeng Group (02013) established Weimeng to go overseas and became Genstore.ai's exclusive strategic partner in China

Zhitong Finance App News, Weimeng Group (02013) issued an announcement. The Group officially announced the establishment of a new “Weimeng Overseas” business unit (Weimeng Overseas) and became the “Genstore.ai Exclusive Strategic Partner in China”.

China Heart to Heart Fertilizer (01866): Jiangxi base industrial chain extension project successfully put into operation

China Xinlianxin Chemical Fertilizer announced that the industrial chain extension project of the subsidiary Jiangxi Xinlianxin Chemical Industry Co., Ltd. was successfully put into production on September 23, 2025, with a design capacity of 600,000 tons of synthetic ammonia and 1.2 million tons of controlled release fertilizer per year. The project will give full play to the market and location advantages of the Jiangxi base, improve capacity utilization, consolidate cost leadership, continue to contribute incremental cash flow, help the company achieve high quality and sustainable development, and enhance its overall competitiveness and brand influence.

Jiufang Smart Investment Holdings (09636) subscribes to EXIO Group Limited shares to accelerate overseas digital asset business layout and market expansion

According to Zhitong Finance App, Jiufang Smart Investment Holdings (09636) announced that on September 23, 2025, JF SmartTrade (BVI) Limited (JF SmartTrade), a wholly-owned subsidiary of the Company, signed a share subscription agreement with EXIO Group Limited (EX.IO or the “target company”), and JF SmartTrade agreed to subscribe for EX.IO shares (subscription matters).

Yuanda Pharmaceutical (00512): New specifications for triprostenil injections were approved domestically

Yuanda Pharmaceutical announced that the company's new specifications for triprostenil injections were issued a drug registration certificate by the State Drug Administration on September 22. According to reports, triprostinil injection is a medical insurance catalogue product. It is a first-line medication for clinical PAH treatment and basic use in targeted drug combination treatment plans, and is the only prostacyclin drug that can be used to treat PAH subcutaneously and intravenously in China. The product's 20ml:20mg specification was approved for sale in March 2023.

IPO News | China Micro Semiconductor (688380.SH) reports that the Hong Kong Stock Exchange ranks first in MCU shipments in China in 2024

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on September 23, Zhongwei Semiconductor (Shenzhen) Co., Ltd. (688380.SH)) submitted a listing application to the main board of the Hong Kong Stock Exchange, and CITIC Construction Investment International is the sole sponsor.

[Individual stock prices are clear]

China Airlines (03931): Group raised its shipment forecast for next year

China Innovation Aviation's battery loading volume has maintained strong growth since the second quarter. The loading volume in the first six months reached 21.8 GWh, higher than the 19.5 GWh market statistics. According to market research, the Group's performance remained strong in July, and its market share rose further to 8.4% in a single month.

In terms of energy storage, China Airlines achieved strong growth in the first half of the fiscal year. In addition to more diversified domestic customers, the Group also obtained new orders from Europe. With the release of more production capacity and the increase in the proportion of new customers and direct supply in the future, the energy storage business is expected to maintain a high growth rate. It is expected to achieve the annual shipping target of 45 GWh for the whole year, and reach the level of about 70 GWh next year. At the same time, profit margins are also expected to improve.

The Group raised its shipment forecast for next year, and the new power battery project and demand for energy storage batteries will support the Group. In particular, the Group's energy storage batteries are currently in short supply and will be able to contribute more to the Group after production capacity is released. In terms of cost reduction, the Group's input-output ratio and yield increased significantly, offsetting the impact of increased R&D expenses.