India's preliminary June services PMI was 57.3, below the expected 58.8 and the previous reading of 59.8.

Morningstar analyst Phelix Lee said leading memory-chip manufacturers may further increase capital expenditure in 2026 and 2027, driven by newly negotiated long-term supply agreements that support margin stability and shift greater funding commitments onto customers. Morningstar said this could lead to strong capacity expansion in memory, particularly in DRAM and HBM.

Key News 1. Ministry of Finance: From January to May, securities transaction stamp tax reached 126.2 billion yuan, a year-on-year increase of 88.8%. 2. Ministry of Agriculture and Rural Affairs and National Development and Reform Commission held a symposium on strengthening comprehensive regulation and control of pig production capacity. 3. Li Qiang conducted research in Dalian, Liaoning: We must vigorously develop high-end equipment manufacturing and accelerate the construction of a modern industrial system. 4. The State Financial Regulatory Commission, together with the People's Bank of China and the China Securities Regulatory Commission, held a meeting: Further deepen the coordination mechanism for the protection of financial consumers and investors. 5. People's Bank of China: Shanghai Gold Exchange gold trading volume reached 5,521.8 tons, a year-on-year increase of 2.8%. 6. China Energy Investment Corporation's installed power generation capacity exceeds 400 million kilowatts, accounting for approximately one-tenth of the national total. 7. Several banks tightened leveraged trading in gold and silver, with margin requirements for gold and silver leveraged trading soaring to 140%. Individual Stock News 1. CATL: Began delivering the first batch of sodium-ion battery solutions in September this year; aims to achieve GWh-level shipments by the end of 2026. 2. Zhongtian Technology releases 17280-core ultra-high-density optical cable. 3. Dingyang Technology responds to stock price plunge: Affected by multiple factors, not significantly related to Nvidia. 4. China Shipbuilding Special Gas: Stock price has risen by 388.77% cumulatively; trading suspended for investigation starting June 23. 5. Luxshare Precision: Plans to use no more than 40 billion yuan of idle funds to purchase low-risk bank products. 6. Kuang-Chi Technologies: Its wholly-owned subsidiary recently signed batch production contracts and R&D contracts totaling 612 million yuan for metamaterial products. 7. Guanghe Technology: Plans to invest 6 billion yuan to build a Dongguan intelligent manufacturing headquarters project to further increase high-end printed circuit board production capacity. 8. Satellite Chemical: Expects first-half net profit to increase by 119%-155% year-on-year. 9. Changchuan Technology: Expects first-half net profit to increase by 110.76% to 134.18% year-on-year. 10. Beijing Junzheng: Computing chip sales grew by nearly 50% in the first quarter, and this growth is expected to continue in the second quarter. 11. Tianhua New Energy: Plans to increase its capital in Huaqiao Mining by contributing Jinzifeng Mine valued at 2.692 billion yuan, laying the raw material foundation for future increases in lithium carbonate production and sales. 12. Boyun New Materials, which has seen two consecutive days of limit-up trading, clarified: Since 2026, it has not supplied high-end drill bit master materials to subsidiaries of China Tungsten High-Tech, nor has it exported products to Japan's Yuneng. 13. Xingye Technology: Plans to acquire indium phosphide business; revenue in 2026 is expected to account for a very small proportion of revenue in 2025, with minimal impact on current revenue and net profit.