China 2-year government bond futures (TS) most-active contract unchanged; 5-year (TF) +0.02%; 10-year (T) +0.04%; 30-year (TL) +0.19%.

Yandong Micro shares tumbled on Aug. 31, closing at 49.52 yuan, down 7.87%, with a market cap around 70.7 bln yuan. Market commentary pointed to a large 1H loss, falling product gross margins, heavy capex for 12‑inch lines and resulting depreciation and financing pressure, and intensified competition in mature 6‑inch/8‑inch wafer foundry segments weighing on contract prices. Yandong Micro said operations are normal but some projects remain in construction, with substantial prior fixed‑asset investment and profits materially affected by capacity ramp‑up. The company added that 12‑inch chips are a long‑term trend while 6‑inch and 8‑inch still have demand, and product choices will depend on market supply‑demand conditions.

The Information reports, citing two people familiar, that Chinese memory maker ChangXin has started small-batch production of HBM3E, an advanced high-bandwidth memory used in leading AI processors. Sources say ChangXin’s product is about one generation behind the mass-produced HBM lines from Samsung, SK Hynix and Micron; the company plans to scale production in 2027.