Zhipu (02513.HK) extended gains to 10% after the company said a media report that it had withdrawn its A-share guidance filing was false.

Nomura initiates coverage of Jinli Permanent Magnet (06680.HK) with a Buy rating and HK$27 PT. Nomura says Jinli is a global leader in rare-earth permanent-magnet materials and the largest NdFeB producer, forecast to account for c.10% of global rare-earth magnet shipments by 2025. High-end rare-earth magnets are widely used in EVs, wind turbines and appliances; Jinli’s penetration across major downstream markets underpins a projected 12% volume CAGR for 2025–28. Nomura identifies humanoid robots as an emerging demand driver, estimating 3–4kg of rare-earth magnets per robot versus 2.0–2.5kg per EV, and says the company’s long-term supply relationships with Tesla and other leading EV OEMs position it to enter the humanoid-robot supply chain.

Anhui provincial financial office deputy director Ma Xianxian said the province will implement its fiscal-financial coordination plan, tightening alignment between fiscal and financial policy and expanding support measures including interest/fee subsidies and risk compensation. The province will leverage government financing guarantees to enhance credit and risk-sharing, launch a product matrix of 'no-application' lending, guarantees and insurance, and broaden its fund ecosystem. An integrated invest–lend–guarantee–insure–subsidize mechanism is intended to create a fiscal-led, finance-amplified, market-operated transmission chain and a financial services system covering the full tech-innovation chain and technology firms' lifecycle.