Gulf Cooperation Council says it rejects any unilateral mechanisms or arrangements concerning the Strait of Hormuz.

Key News 1. State Council: By 2030, the proportion of new energy vehicles in the total fleet should strive to reach 30%; the proportion of non-fossil energy consumption should reach 25%. 2. Huawei, together with industry partners, launched the OPEN NPO project to jointly build China's first NPO optical interconnect MSA. 3. General Office of the CPC Central Committee and General Office of the State Council: Strengthen dynamic inspections of weak links in urban lifeline facilities, such as low-lying stations, underground pipe networks, and aging pipelines. Individual Stock News 1. GigaDevice: Expected net profit growth of 1099% in the first half of the year, with both volume and price of memory chip products increasing. 2. Tianhua New Energy: Expected net profit of RMB 2.2 billion to RMB 2.4 billion in the first half of the year, representing a year-on-year increase of 2471.19% to 2686.75%. 3. Tinci Materials: Expected net profit of RMB 2.7 billion to RMB 3 billion in the first half of the year, representing a year-on-year increase of 907.84% to 1019.82%. 4. Foxconn Industrial Internet: Expected net profit of RMB 23.4 billion to RMB 24.4 billion in the first half of the year, representing a year-on-year increase of 93% to 101%. 5. Zijin Mining: Net profit is expected to increase by 68% year-on-year in the first half of the year. 6. Sanwei Communication: Net profit is expected to increase by 1428.58%-2001.8% year-on-year in the first half of the year. 7. Han's Laser: Net profit is expected to be RMB 1.25 billion-1.35 billion in the first half of the year, representing a year-on-year increase of 156.07%-176.55%. 8. Dinglong Technology: Net profit is expected to be RMB 510 million-540 million in the first half of the year, representing a year-on-year increase of 63.96%-73.61%. 9. ZhengBang Technology: Net loss is expected to be RMB 700 million-800 million in the first half of the year, representing a year-on-year decrease of 447.11%-496.7%. 10. Han's CNC: Net profit is expected to increase by 242%-280% year-on-year in the first half of the year, with a significant increase in the revenue share of AI PCB-related solutions. 11. Northern Rare Earth: The company's rare earth concentrate transaction price for the third quarter of 2026 has been adjusted to RMB 38,565/ton (excluding tax). 12. BYD Energy Storage signed an 11.275GWh energy storage cooperation agreement with Masdar of the UAE. 13. Tongye Technology: Shareholder Tianjin NVIDIA plans to reduce its holdings by no more than 3%. 14. Taiji Industry: The controlling shareholder's concerted parties reduced their holdings by 2.3% of the company's shares on July 9. 15. Tianfu Communication: The output of active products at its Thailand factory will increase month by month in the second half of the year, and the current supply shortage of 200G EML materials is gradually easing.

The three major A-share indices turned negative in the afternoon, with the Shanghai Composite Index falling, the Shenzhen Component Index dropping more than 0.6%, and the ChiNext Index falling more than 2%. The sectors of lab-grown diamonds, memory chips, and fluorochemicals saw the largest declines.