A-share pre-market broadcast | Artificial intelligence+full implementation of NASDA+1.05% Nvidia (NVDA.US) production expansion
Pre-market highlights
1. The Central Office and the State Office issued opinions on the deep integration of scientific and technological innovation and industrial innovation, and fully implemented the “Artificial Intelligence +” campaign
Type: macro
Emotional impact: positive
The opinions focus on six areas, including promoting the seamless connection between the innovation chain and the industrial chain, supporting the construction of a modern industrial system with high-quality technology supply, and strengthening enterprise-led integration and innovation in industry, education, research, and innovation. Among them, it is proposed to fully implement the “Artificial Intelligence +” campaign to promote artificial intelligence to empower all industries in all aspects; promote decisive breakthroughs in key core technology research in key areas such as integrated circuits, industrial machines, high-end instruments, advanced materials, and biomantry. Explore diverse technology routes, typical application scenarios, and viable business models in cutting-edge fields such as quantum technology, biomantry manufacturing, hydrogen energy and nuclear fusion energy, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communications, and accelerate the industrialization and commercialization of cutting-edge technologies.
2. The three major US stock indices collectively closed higher, the NASDAQ rose 1.05%, and SpaceX rose more than 7%
Type: Market
Emotional impact: positive
The Dow rose 0.69% to 52856.09 points, the NASDAQ rose 1.05% to 26702.86 points, and the S&P 500 rose 0.58% to 7757.17 points. Most popular technology stocks rose, SpaceX surged more than 7%, Tesla rose more than 3%, and Nvidia, Micron Technology, and SK Hynix rose more than 2%. The semiconductors, cryptocurrency concepts, and computer hardware sectors registered the highest gains. Ultramicrocomputers rose more than 9%, Dell Technology rose more than 5%, and Nanowei Semiconductors and Circle rose more than 4%. Lithium concept stocks and the packaged food sector declined, General Mills fell more than 2%, and America's Abbott fell more than 1%.
3. Nvidia and supply chain partners expand production capacity for substrates, packaging and testing
Type: industry
Emotional impact: positive
Nvidia announced that it will expand substrate production capacity with supply chain partners such as Ibi Electric, Samsung Electric, and Xinxing Electronics, and plans to increase board production capacity for related products to 2.5 times the current level in the next three years. Among them, Ibi Electric's target production capacity will reach 3 times the current level after expanding production at the Ono Plant in Japan, and the additional production capacity is expected to start climbing in the first quarter of 2028. The company also plans to double the total semiconductor testing capacity from 2026 to 2027, and launch large-scale test production in Singapore in February 2027; and Silicon Precision plans to increase the production capacity of co-packaged optical light engines to 15 times the current level in mid-2027. Anjiao Technology plans to increase advanced packaging production capacity by more than 300% by the end of 2028.
4. Changchuan Technology's net profit for the first three quarters increased 98.17% to 109.73%
Type: Company
Emotional impact: positive
The company announced that net profit attributable to shareholders of listed companies for the first three quarters of 2026 is 1,715 billion yuan to 1,815 million yuan, compared to 865 million yuan for the same period last year. The changes in performance are mainly due to continued growth in market demand in the semiconductor industry, strong customer demand, abundant product orders, sharp year-on-year increase in sales revenue, further prominent scale effects, and an increase in net profit margin. Net profit after deducting non-recurring profit and loss is estimated to be 1,667 billion yuan to 1,767 billion yuan, an increase of 111.39% to 124.07% year over year.
Investment calendar
On October 22, the 2026 Financial Street Forum Annual Meeting was held, and the State Administration of Foreign Exchange hosted a special event
Institutional views
1. Huayuan Securities: Q3 economic momentum bottomed out and rebounded. There was little pressure to achieve the target for the whole year, and market downside risks or marginal mitigation
2. Cathay Pacific Haitong: National Data Group was established, and professional data service providers are expected to participate in data resource development through ecological cooperation
3. CITIC Securities: Domestic and overseas demand ushered in an inflection point in growth, and tenders and orders are expected to recover first in 2027
Positive and negative outlook
1. A 7-day reverse repurchase of 45 billion yuan expires today
Type: Policy Focus
Guosheng Securities: Since September, the deep correction in the stock market has triggered a clear “fixed income +” retreat. The decline in equity has caused bonds to be sold off, and the bond market has adjusted accordingly.
2. The Hubei Gesheng Intelligent Industry Innovation Conference was held on October 22
Type: Agency Hot Reviews
SDIC Securities: The TPT model of central control has moved industrial AI from a single-point tool to full-stack value. Currently, industrial AI is moving from single-point verification to large-scale application.
3. 2026 iFLYTEK Global 1024 Developer Festival kicks off on October 22
Type: Hot Market Discussion
Huafu Securities: AI comics took over reality skits and became the core growth of the industry. The big video model was iterated along the main line of “cost reduction, ability, and efficiency”, and supply-side production capacity was quickly released.
Announcement Express
Positive announcements
1. Guangzhi Technology: The subsidiary won the bid for the pilot (Qingdao) Optoelectronics Industrial Park production line and supporting system project and signed a contract, with an amount of 1,114 billion yuan including tax
2. Jinchen shares: It is planned to repurchase shares through centralized bidding, with a total capital of 50 million yuan to 100 million yuan
3. Haitong Development: It is proposed to repurchase shares through centralized bidding, with a total capital of 40 million yuan to 80 million yuan, all of which will be used to cancel and reduce registered capital
Negative announcements
1. *ST Zhuoran: Closing market value of 157 million yuan on October 21, falling below 300 million yuan for 15 consecutive trading days. Risk warning on termination of listing was issued for the 7th time
2. American Health: The actual controller acted in concert to reduce their holdings by 206.66 million shares and completed the implementation, accounting for 0.53% of the total share capital
3. Dongmu Co., Ltd.: Two contract disputes were filed and accepted by the court. The amounts involved were RMB 31.02 million and RMB 1.914,200
Overseas markets
The three major US stock indices collectively closed higher. The Dow rose 0.69% to 52856.09 points, the NASDAQ rose 1.05% to 26702.86 points, and the S&P 500 index rose 0.58% to 7757.17 points. Nvidia announced that it will expand production capacity for substrates and packaging with partners such as Samsung Electric and Xinxing Electronics, and strengthen the computing power hardware chain. Ultramicrocomputers have increased by more than 9%, Dell Technology has increased by more than 5%, and Tesla has increased by more than 3%. The lithium ore and packaged food sector declined, and America's Yabao fell more than 1%. Livermore's leading Chinese securities index closed down 1.12%, Xiaopeng Group fell more than 5%, and Alibaba fell more than 3%.