Zhitong Hong Kong stocks have known for a long time | Three departments release mortgage interest rate discount policies, the central bank includes the “Six Zhang Network” in the field of PSL support

[Today's headlines]

Ministry of Finance: Residential mortgage interest rate discount policy will be implemented from October 1

On September 29, the Ministry of Finance, the People's Bank of China, and the General Financial Supervisory Administration issued a notice on implementing interest rate discount policies for residents' home purchase loans. Among them, it was mentioned that households that take out loans to purchase commercial housing and meet the following conditions can enjoy the central government's interest rate discount policy support. The policy will be implemented on October 1, 2026. The implementation period is tentatively set for 1 year. During this period, the managing bank will issue a new commercial personal housing loan for the first eligible home. The financial department will provide interest rate discount support of 1 percentage point annualized for a period of not more than 5 years based on the loan principal amount. The maximum loan size that a single household can enjoy at interest rates is 1 million yuan. Interest rate discount funds are borne by central finance and local finance at 90% and 10% respectively. Among them, the financial sharing ratio at the provincial level and below is determined independently by the provincial finance department, taking into account actual conditions.

[General outlook]

Overnight, the Dow Jones Industrial Average fell 131.59 points from the previous trading day, or 0.26%, to close at 51349.92 points; the S&P 500 stock index fell 12.85 points, or 0.17%, to close at 7670.84 points; and the Nasdaq Composite Index fell 22.84 points to close at 26797.54 points, or 0.09%.

The “Big Seven Tech” had mixed ups and downs. Meta rose 3.24%, Amazon rose 0.21%; Apple led the decline by 2.66%, Tesla fell 1.29%, AI hardware stocks generally rose, Lumentum rose more than 5%, and Corning and Mywell Technology rose more than 4%.

The Nasdaq China Golden Dragon Index closed down 1.55% to 5662.29 points, with the mobility and NEV sector leading the decline. The Hang Seng Index ADR rose. On a pro rata basis, it closed at 24529.21 points, up 5.64 points or 0.02% from the Hong Kong closing.

WTI crude oil futures on the New York Mercantile Exchange fell $3.66 for the month, closing at $88.94 per barrel, or 3.95%. COMEX gold futures rose by 46.60 US dollars in the same month, or 1.12%, to 4215.0 US dollars/ounce.

[Hot Topics Preview]

Central Bank: Incorporate the construction of “six networks” such as new power grids, computing power grids, and next-generation communication networks into PSL support areas

The People's Bank of China adjusted and improved a number of monetary policy instruments and expanded the area of mortgage supplementary loan (PSL) support. Integrate “six networks” construction such as water grids, new power grids, computing power networks, next-generation communication networks, urban underground pipelines, and logistics networks into the field of mortgage supplementary loan support, guide policy banks to increase financial support for the “six networks” construction, help expand effective investment, and further tap the potential of domestic demand.

Four departments: Support the renewal of new energy buses and power batteries in conjunction with the implementation of large-scale equipment renewal policies

With the approval of the State Council, the Ministry of Transport, the National Development and Reform Commission, the Ministry of Finance and the Ministry of Human Resources and Social Security jointly issued the “Guiding Opinions on Promoting the Deepening Reform of Urban Public Transport Enterprises” in order to implement the decisions and arrangements of the Party Central Committee and the State Council, promote the deepening of the reform of public transport enterprises, improve urban public transportation security capabilities and service levels, and better meet the basic travel needs of the masses. Among them, it is mentioned that the government subsidy compensation system is strictly implemented. Support the renewal of new energy buses and power batteries in conjunction with the implementation of large-scale equipment renewal policies.

5.5 GW Inner Mongolia Alashan Photovoltaic Sand Control Project Announced, CGN, China Power Construction, and Huaneng Obtained

On September 28, the Inner Mongolia Autonomous Region Energy Administration announced the implementation list of the Alxa League photovoltaic sand control test project. There are 5 photovoltaic sand control experimental projects, with a total implementation scale of 5.5 million kilowatts and 220,000 mu of sand control tasks. Project implementers include project companies under CGN, Huadian, China Power Construction, and Huaneng.

Jiang Bolong (09976): The relationship between supply and demand in the storage industry will remain tight

On September 28, Jiang Bolong released a record sheet of investor relations activities. It points out that at present, the physical limitations of the “memory wall” and the high cost of memory have become important obstacles to the widespread application of AI on the end side of large models. The company's end-side AI storage solution can achieve optimal solutions for NandFlash and DRAM overall storage solutions in terms of cost and technology optimization on the premise of ensuring that the customer experience remains basically the same, and has extremely broad market application prospects. The company is working with important partners to promote commercialization and marketing of related technologies.

Regarding future trends in storage prices, the company said that based on information released by third party agencies, the implementation of AI in the cloud and on the terminal side is a clear industry trend and will bring about a huge increase in storage demand; due to past cycles, overseas original manufacturers still maintain relatively prudent NAND capital expenditure plans and achieve relatively moderate NAND supply growth through technological upgrades, so the supply and demand relationship in the storage industry will remain tight.

In response to the introduction of mSSD products, the company explained that MSSD products use SiP packaging technology to integrate integrated circuits with different functions such as main control chips, memory chips, and passive components into one package to achieve a product volume of 20 x 30 x 2.0 mm, which is far smaller than traditional PCBA SSDs. MSSD product performance meets PCIe's high standards, and by simplifying the complex production process of traditional PCBA SSDs, it has obvious comprehensive cost advantages. mSSD is highly in line with the demanding requirements of AI PCs for extreme performance and compact form. The company is focusing on promoting mSSD as a next-generation product standard, and has now achieved large-scale commercial applications in many of the world's leading PC manufacturers.

Shanghai Pharmaceutical (02607): Sale of Zeus shares worth US$397 million

Shanghai Pharmaceutical announced that in 2016, Shangshi Medical, a wholly-owned subsidiary of the company, and a wholly-owned subsidiary of Chunhua Capital jointly established Zeus Investment Limited and completed the privatization of Vitaco. The company plans to jointly sell shares in Zeus Investment Limited and its subsidiaries with Chunhua Capital. Dehong Capital is the intended transferee, and the trading company is worth 397 million US dollars. The board of directors of the company has reviewed and approved it, and the parties signed the transaction contract on September 29, 2026.

FMR LLC increased its holdings of Kingsley Biotech (01548) by 6.846 million shares at a price of approximately HK$40.25 per share

According to the latest data from the Hong Kong Stock Exchange, on September 24, FMR LLC increased its holdings of Kingsley Biotech by 6.846 million shares, at a price of HK$40.2549 per share, for a total amount of about HK$276 million. After the increase in holdings, the latest number of shares held was approximately 120 million shares, and the latest shareholding ratio was 5.26%.

Benmao Technology (06731) signed a strategic cooperation agreement with China Science and Technology Innovation to promote deep coupling between new rare earth materials and robot terminal applications

According to the strategic cooperation agreement, the two sides will establish a normalized technical exchange mechanism and jointly carry out research and development of high-performance magnetic materials such as NdFeB, polymagnetic rings, radiation magnetic rings, etc., and develop high-performance magnetic products suitable for direct drive motors in line with upstream rare earth resources and the technical requirements of motor application scenarios.

IPO dark market | Huanchuang Technology (06802) dark market closed up 1.87 percent

The Zhitong Finance App learned that the “first high-precision AI space positioning stock” Huanchuang Technology undercover transaction is underway. According to market information, this public sale recorded 3,551 times oversubscription. Nearly 160,000 investors participated, and the participation capital was nearly HK$250 billion. It ranked among the top four Hong Kong stock market overpurchases in the second half of the year, and the market popularity remained high.

Huanchuang Technology will be listed in Hong Kong on September 30 (Wednesday). Undermarket trading showed a closing price of HK$169, up 187% from the offering price of HK$58.85, or 100 shares per lot.

Tongcheng New Materials (09607): Zhang Ning plans to increase its H share holdings by 6.5 million to 13 million shares

Tongcheng New Materials announced that the actual controller and chairman, Zhang Ning, has increased the company's H shares by 773,400 shares for the first time, with an increase of HK$29.3692 million, accounting for 0.11% of the total share capital; it is planned to continue to increase its holdings of 6.5 million to 13 million H shares through centralized bidding on the Hong Kong Stock Exchange within 12 months from September 30, 2026, with capital from its own or self-raised funds.

[Individual stock prices are clear]

Cornerstone Pharmaceutical-B (02616): ESMO data update is imminent, executives continue to increase their holdings, demonstrating confidence in development

The latest clinical data of CS2009 (PD-1/VEGF/CTLA-4 tri-specific antibodies), a core asset of Cornerstone Pharmaceuticals, will be disclosed in the form of two quick oral reports at the European Society of Medical Oncology (ESMO) annual meeting to be held in October 2026. In addition, Yang Jianxin, CEO of the company, CEO of R&D and executive director, purchased a total of 496,000 shares of the company on the open market with personal capital from September 17 to 22, at a total cost of over HK$2.7 million.

According to reports, since becoming CEO in August 2022, Dr. Yang Jianxin has purchased more than 14.21 million shares of the company on the open market. This share purchase fully demonstrates Dr. Yang's long-term commitment to the company and his firm confidence in the company's future business prospects.