A-share pre-market broadcast | Dow rises 1.02% Data Group forms intelligent computing power to increase 146%

Pre-market highlights

1. The three major US stock indices closed with mixed gains and losses, with biopharmaceuticals and diet pills leading the way by 1.02%

Type: Market Sentiment Impact: Neutral

The Dow rose 1.02% to 52495.88 points, the NASDAQ fell 0.02% to 26424.82 points, and the S&P 500 rose 0.29% to 7712.57 points. Most of the big tech stocks fell, with Apple, Google, and Meta falling more than 1%, SK Hynix falling more than 2%, and Tesla rising more than 1%. The biopharmaceuticals and diet pills sector had the highest gains, with Eli Lilly and Amgen rising more than 3%, AstraZeneca rising nearly 3%, and Novo Nordisk and Pfizer rising more than 2%. The semiconductor equipment and materials, and oil and gas sectors declined, with Kelei falling by more than 2%, applied materials by nearly 2%, and Asmat by nearly 1%. Livermore's leading Chinese securities index closed up 0.59%.

2. The State Assets Administration Commission establishes National Data Group Co., Ltd., and the State Assets Administration Commission performs the duties of a funder

Type: Macro Sentiment Impact: Positive

With the approval of the State Council, National Data Group Co., Ltd. was established. The State Council's State-owned Assets Supervision and Administration Commission performs funder duties on behalf of the State Council, and is included in the list of enterprises where the State Council's State-owned Assets Administration Commission performs funder duties. The group was officially established on October 20. According to its positioning, the company will lead data technology, prosper the data industry, serve artificial intelligence, and build a digital China.

3. The scale of intelligent computing power reached 2592, an increase of 146% over the same period last year. The Ministry of Industry and Information Technology will speed up the expansion and quality of computing power facilities

Type: Industry sentiment Impact: Positive

Xie Ding, director of the Information and Communications Administration Bureau of the Ministry of Industry and Information Technology, said at the press conference of the State Information Office that by the end of September 2026, China's intelligent computing power had reached 2,592 EFLOPS, an increase of 146% over the previous year. In the next step, the Ministry of Industry and Information Technology will plan and implement a number of strategic, guiding, and breakthrough major engineering projects to accelerate the expansion and quality of computing power facilities; forwardly lay out 6G technological innovation to deepen 5G industrial Internet application innovation; support more eligible enterprises to apply for commercial testing of satellite IoT services; and further expand the pilot opening of value-added telecommunications services in due course.

4. Tianqi Lithium expects net profit of 5.1 billion yuan to 6 billion yuan for the first three quarters, an increase of 2734.97% to 3235.26% year-on-year

Type: Company Sentiment Impact: Positive

Tianqi Lithium announced its results forecast for the first three quarters of 2026. Net profit attributable to shareholders of listed companies is estimated to be 5.1 billion yuan to 6 billion yuan, compared to 180 million yuan for the same period last year; net profit after deducting non-recurring profit and loss is 5,030 billion yuan to 5.930 billion yuan, compared to 71.2758 million yuan for the same period last year. According to the company, revenue during the reporting period increased sharply compared to the same period last year, and the average sales price of major lithium products increased significantly compared to the same period last year. This performance forecast has not been pre-audited by a certified public accountant.

Investment calendar

On October 21, Nvidia CEO Huang Renxun delivered a speech at the Nvidia GTC Berlin conference

Institutional views

1. Huafu Securities: The flexibility of coal supply is limited. Rising costs support the bottom of coal prices, and coal prices are in a new upward cycle.

2. SDIC Securities: Investment and sales in the industry are still bottoming out, but housing prices have continued to improve marginally, and the market is accumulating steady momentum.

3. Zhongtai Securities: AI film projects are being implemented at an accelerated pace, and they are optimistic about positive changes in content supply from the year-end to Lunar New Year and Spring Festival programs.

Positive and negative outlook

1. A 7-day reverse repurchase of 56 billion yuan expires today

Type: Policy Focus

Cathay Pacific Haitong: The Financial Street Forum clarified that policy interest rates were selected to replace overnight repurchase interest rates, established large redemption liquidity tools for non-banks, and expanded the scope of SLF applicable institutions to domestic and foreign corporate banks.

2. Nvidia GTC Berlin Conference was held, and Huang Renxun delivered a keynote speech

Type: Hot Market Discussion

CITIC Securities: 26Q4 is expected to be a critical point for the enterprise-level implementation of overseas models. After October, Anthropic ARR is expected to regain its upward trend and fix pessimistic expectations for the AI sector.

3. The 93rd National Drug Fair was held in Beijing from October 21 to 23

Type: Agency Hot Reviews

Guojin Securities: Innovative drug cutting-edge technology accelerates iteration. IO2.0, ADC iteration, self-immunity and long-term dual antibodies are reshaping the treatment pattern, and the internationalization of China's original research assets has entered the harvest period.

Announcement Express

Positive announcements

1. Pengding Holdings: Proposed repurchase of 300 million yuan to 500 million yuan, with a maximum repurchase price of 80 yuan/share

2. Overseas Chinese Bank Co., Ltd.: Pre-bid for the integrated rural sanitation project in Anxin County, Hebei, with an amount of 77.31 million yuan, operating period of 3 years

3. Lanqi Technology: The net profit for the third quarter is expected to be 1.2 billion yuan to 1.3 billion yuan, an increase of 153.6% to 174.7% over the previous year

Negative announcements

1. Tiansheng New Materials: Ending the issuance of shares to specific targets in 2026, and simultaneous termination of changes in controlling shareholders and actual controllers

2. Jinlong shares: termination of the purchase of 29.3151% shares of Shenzhen Benmao Technology

3. *ST Outstanding: The market value closed at 192 million yuan on October 20, falling below 300 million yuan for 14 consecutive trading days. There is a risk of termination of listing

Overseas markets

The three major US stock indices closed with mixed gains and losses. The Dow rose 1.02% to 52495.88 points, the NASDAQ fell 0.02% to 26424.82 points, and the S&P 500 index rose 0.29% to 7712.57 points. International oil prices surged high and fell, and the oil and gas and semiconductor equipment sector fell, and Kelei fell by more than 2%; the biopharmaceuticals and diet pills sector led the way, with Eli Lilly and Amjin rising more than 3%. Most of the big tech stocks fell, with Apple, Google, and Meta falling more than 1%. Livermore's leading Chinese securities index closed up 0.59%, Xiaopeng Group rose more than 7%, and Ideal Auto rose more than 5%.