China’s overnight pledged repo rate fell to its lowest level since August 2023.

CHINA TO STRENGTHEN SECURITY OF INDUSTRIAL AND SUPPLY CHAINS IN KEY SECTORS - XINHUA

Key News 1. The People's Bank of China: Conducted 800 billion yuan of outright reverse repurchase operations. 2. The State Financial Regulatory Commission: Promoted the construction of a financial service system adapted to the financing needs of the entire life cycle of future industries. 3. The megawatt-class hydrogen fuel cell turboprop engine successfully completed its maiden flight. 4. Six departments including the Ministry of Commerce: Developed "Artificial Intelligence + E-commerce," guiding e-commerce companies to strengthen the research and application of technologies such as large-scale artificial intelligence models. 5. Jiangsu: Accelerated the creation of a high ground for artificial intelligence innovation and development, and vigorously supported OPC innovation and entrepreneurship. 6. The State Administration for Market Regulation held an administrative guidance meeting for food delivery platform companies. Individual Stock News 1. EVE Energy: Launched the world's first 6.9MWh energy storage system; signed contracts for large batteries exceeding 50GWh. 2. Yuxin Technology: Directly provided customers with digital currency 2.0 related products; the project has entered the substantive implementation stage. 3. Zhenghe Industry: The official technology partner of Zhangxue Locomotive, providing transmission systems for Zhangxue Locomotive's supply chain. 4. Shenzhen Nanshan Power A: Plans to invest in and construct a 300MW/600MWh independent energy storage power station (phases II and III) project in Cuiheng New Area through its holding subsidiary. 5. Yunnan Germanium: Plans to invest 189 million yuan to construct a high-quality indium phosphide single-crystal wafer project to meet the needs of the optical communication market. 6. Dongyue Silicon Material: Q1 net profit is expected to increase by 397%-451% year-on-year, driven by rising prices of major products in the organosilicon industry. 7. Accelink Technologies: Its 3.2T silicon photonics single-mode NPO module has completed full-series verification with leading domestic CSP manufacturers. 8. Shanghai Electric's large-scale casting and forging industry capacity upgrading project has commenced construction in its first phase. 9. Hongming Electronics: Currently operating normally with stable orders. 10. Hangjin Technology: Under investigation for suspected violations of information disclosure regulations. 11. Qiangyi Shares: Q1 net profit is expected to increase by 655%-762% year-on-year, driven by continued strong orders for mature MEMS probe card products. 12. Intercontinental Oil & Gas: Shareholder Haikou Dongduo is suspected of transferring shares during the restricted transfer period and has received a prior notice of administrative penalty. 13. Hengxin Oriental: Due to false records in its 2022 annual report, it has been subject to other risk warnings, and its stock abbreviation has been changed to "ST Hengxin". 14. Zhunyou Shares: It expects a negative net profit for 2025 and may be subject to delisting risk warnings. 15. Shandong Zhanggu: Due to false records in its 2024 annual report, it will be subject to other risk warnings, and its stock abbreviation will be changed to "ST Zhanggu".