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Industrial and Commercial Bank of China holds a symposium in Shanghai, aiming to promote equity investment to support technological innovation and industrial upgrading, helping to build Shanghai as an international science and technology innovation center. By deepening equity financial deployment and providing comprehensive financial services, ICBC will cooperate with local governments and investment institutions to promote the industrialization of scientific and technological achievements and advance the development of new quality productivity.

April 2nd, gold prices fluctuated upward, closing at $4,758. Trump mentioned Iran's ceasefire request but still favors a pressure strategy, with the stable dollar putting downward pressure on gold. From a technical perspective, gold faces resistance at $4,800, and a pullback risk should be watched carefully. Investors are advised to pay attention to the upcoming non-farm payroll data, and short-term long positions should be approached with caution.

In March 2026, nationwide real estate market supply and transaction data showed that new home supply in the top 50 cities increased month-on-month, but overall remained low. The second-hand housing market was active, with transaction area increasing year-on-year. Land market transaction volume rose, but enthusiasm declined, and overall prices fell, especially in first-tier cities with a noticeable decrease.

Caixin April 2 News (Reporter Li Jie, Intern Feng Zixi) SOHO China (00410.HK) recently released its full-year 2025 performance.
Against the backdrop of continued adjustments in the leasing market, in 2025, SOHO China, although it promoted an increase in occupancy rate through flexible pricing, still faced operational pressure brought by declining revenue, high debt, and historical tax issues.
According to SOHO China’s 2025 annual report, during the reporting period the company achieved operating revenue of 1.37 billion yuan, down 10.9% year-on-year; the annual net loss was 291 million yuan, with losses further widening compared with 2024; after excluding changes in the fair value of investment properties and one-off tax expenses, the underlying net profit was 134 million yuan; overall occupancy rate was 82.8%, up 5.1 percentage points year-on-year.
“One of the reasons for the decline in revenue is that SOHO China proactively adopted a strategy of reducing rents to stabilize occupancy rates

Affected by international geopolitical risks, global oil prices surged, and the A-share market experienced volatility and decline. Brokerage firms recommend energy stocks such as oil and coal, with CATL and China National Offshore Oil Corporation (CNOOC) being particularly favored. It is advised to pay attention to high-dividend yield sectors. The market remains optimistic about energy transition and the development of new energy sources.

The storage chip market is being driven by the investment logic of "buying on the rise, not on the fall," and the spot market for memory modules has "stopped rising and started to fall."
On the news front, on March 25th, Google Research released an AI memory compression algorithm called TurboQuant, claiming it can compress the most memory-intensive KV Cache (key-value cache) in large model inference by at least six times, while also achieving an eightfold performance boost. The U.S. stock storage chip sector plummeted accordingly, and the prices in the storage chip spot market that have been rising since last year have retreated.
However, in Shenzhen Huaqiangbei, this round of memory module price cuts started even earlier. Since mid-March, both DDR4 and DDR5 memory modules have begun to adjust prices, with reductions of 20%-30% so far. A seller in Huaqiangbei told the Beijing News Shell Finance reporter that the reasons behind this are complex, involving both upstream manufacturers' sell-offs and downstream retail investors' panic-driven attempts to offload.

Reprinted from China Securities Journal · China Securities Network
China Securities Journal China Securities Network News (Reporter Meng Peijia) Longhai Co., Ltd. disclosed its 2025 annual report on April 2, showing that the company's operating revenue in 2025 was 3.14B yuan, a year-on-year increase of 17.92%; net profit attributable to shareholders was 326 million yuan, a year-on-year increase of 18.8%.
The annual report indicates that Longhai Co., Ltd. mainly engages in the research and development, production, and sales of glass fibers and their products, as well as glass fiber composite materials. It is a high-tech enterprise focused on this field. The company has a complete industrial chain from "glass fiber yarn—glass fiber products—glass fiber composites," enabling it to provide integrated high-performance composite material solutions for domestic and international customers.
Regarding the reasons for the performance improvement in 2025, Longhai Co., Ltd. stated that it mainly benefits from industry prosperity, capacity release, product structure optimization, and business synergy. In terms of the industry, in 2025

Science and Technology Innovation Bonds have become an important link connecting capital, industry, and technological innovation in the transformation of new and old economic drivers. Recently, Far East Credit and Guohai Securities discussed the development of Science and Technology Innovation Bonds, noting that the "Technology Board" of the bond market is rapidly expanding, with strong market demand. In the future, it is expected to support private enterprises and improve the guarantee system. The issuance scale of Science and Technology Innovation Bonds is projected to reach a new high by 2026, providing support for financing technological innovation.

Jiangsu Shenzhou Semiconductor Technology Co., Ltd. has completed IPO counseling and is preparing to list on the STAR Market. The company focuses on the research and development of core components for semiconductor equipment, with over 400 employees, and has entered the supply chains of many well-known domestic and international companies. Founder Zhu Peiwen holds a 71.21% stake.

On April 2, 2026, Guangdong Qide New Materials Co., Ltd. (Stock Code: 300995) held the 2025 Annual Shareholders' Meeting through a combination of on-site voting and online voting. The on-site meeting was held at 2:30 PM on the third floor conference room of the company office building at No. 323 Lianhai Road, Jianghai District, Jiangmen City, Guangdong Province. The online voting period was on April 2, 2026, with specific voting times on the Shenzhen Stock Exchange trading system from 9:15-9:25 AM, 9:30-11:30 AM, and 1:00-3:00 PM. The internet voting system was available from 9:15 AM to 3:00 PM. The meeting was convened by the company's Board of Directors, chaired by Mr. Rao Desheng, and approved multiple proposals, including the re-election of the Board of Directors.
A total of 56 shareholders attended this meeting, representing 47 shares,

Hefei Hengxin held a shareholders' meeting on April 2, 2026, to review and approve the proposal to change the fundraising project and use oversubscribed funds, receiving 99.93% support, indicating shareholders' approval of the company's strategic adjustment. The meeting used both on-site and online voting, with 104,230,720 shares represented by attending shareholders, ensuring the decision was legal and valid.

Yutong Technology announces that it will repurchase A-shares through centralized bidding, with a total fund of 200 million to 400 million yuan, and a repurchase price not exceeding 50.35 yuan per share, expected to buy back approximately 3.97 million to 7.94 million shares for employee stock ownership or equity incentives.
The repurchase period is 12 months, which may lead to changes in the equity structure and financial condition.
The company will carry out the repurchase based on market conditions and warns of multiple risks.

Starting from April 1st, the "China's Heaviest Load First Route" - the Daqin Railway, has begun a 30-day spring intensive maintenance operation, fully restoring the line equipment performance under the high-load operation of winter coal supply, and laying a solid safety foundation for peak summer energy transportation.
During the maintenance period, all trains on the Daqin Railway will be suspended from 9 a.m. to 12 p.m. daily, for three-dimensional inspection and upgrade of the line's rails, sleepers, turnouts, ballast, as well as power supply contact networks, signal equipment, and communication cables. The construction plan includes replacing 264.6 kilometers of rail in sections, replacing 92k sleepers in sections, cleaning and screening 184.1 kilometers of mainline ballast beds, tamping and consolidating 883.9 kilometers of mainline, tamping and consolidating 436 sets of turnouts, grinding 1,177 kilometers of track, and carrying out bridge and tunnel inspections, contact network rectification, and signal station renovation projects, comprehensively improving facility and equipment quality.
To ensure the high-quality and efficient progress of the construction, the state

Or because Trump's speech "stirred" the market, the stock market came under pressure across the board. On Thursday (April 2), the main indices of the A-shares all drifted into the red, with the ChiNext Index opening lower and falling more than 2%. Over 4,300 stocks in the entire market declined, with a combined trading volume of 1.86 trillion yuan in the Shanghai, Shenzhen, and Beijing markets, shrinking by 167.1 billion yuan compared to yesterday.
Since March, geopolitical risks in the Middle East have suddenly increased, pessimistic narratives have intensified, and market funds have shifted to low-volatility assets for safe haven. The banking sector repeatedly showed counter-market performance. The Huabao (512800) bank ETF, with a market price of over 18.6k yuan, closed up 0.37% intraday, rising step by step on the daily chart and approaching the half-year moving average. The pork concept stocks remained active against the trend, as capacity reduction entered a critical window. The government took action to carry out frozen pork reserves and stockpiling. The first agricultural, animal husbandry, and fishery ETF in the market, Huabao (159275), saw its intraday increase peak at 2.83%, closing up strongly by 1.47%.
Medical

Zhejiang Xiangyuan Cultural Tourism announced that by March 31, 2026, it has repurchased 8.0847 million shares, accounting for 0.77% of the total share capital, with a repurchase amount of 54.0714 million yuan, and a repurchase price ranging from 5.609 yuan to 7.486 yuan. No repurchases were made in March. In the future, the company will continue to repurchase shares based on market conditions, aiming to stabilize market expectations and strengthen corporate governance.

Hot Commodity Analysis
1. Commodity Index
2. Stock Index
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　　China's Shanghai Composite Index closed down 29.27 points on April 2 (Thursday), a decrease of 0.74%, at 3919.29 points;
　　China's Shenzhen Component Index closed down 219.58 points on April 2 (Thursday), a decrease of 1.60%, at 13,486.94 points;
　　China's CSI 300 Index closed down 47.15 points on April 2 (Thursday), a decrease of 1.04%, at 4,478.91 points;
　　China's ChiNext Index closed down 74.87 points on April 2 (Thursday), a decrease of 2.31%, at 3,172.65 points;
　　China's STAR 50 Index closed down 36.02 points on April 2 (Thursday), a decrease of 2.77%, at 1,262.18 points.
3. Crude Oil 26

Chow Tai Seng Jewelry held its first extraordinary general meeting on April 2, 2026, with 370 shareholders present, voting to approve three proposals, including applying for credit from banks and engaging in gold business. The meeting complied with regulations, and the voting results are valid.

American professionals' financial goals for retirement are continuously rising, now reaching $1.46 million. The reasons include concerns about inflation and uncertainty about social security. Despite the increased savings targets, nearly a quarter of people do not have enough funds to cover future living expenses. It is recommended to develop a personalized financial plan, with a savings goal of ten times the income of the year before retirement.