Brent crude rose to $90/barrel, up 2.31% intraday.

Three IPO subscriptions next week: Aug. 31 for Beijing Stock Exchange new issue Baimaike; Sept. 2 for STAR Market new issue Suiruan Technology; Sept. 3 for STAR Market new issue Xinnowei. Suiruan is the only unlisted member of the so-called domestic GPU quartet alongside Moore Threads, Muxi and Biren; once listed the four will all trade publicly. Moore Threads, Muxi and Biren rose 425.46%, 692.95% and 75.82% respectively on their first trading days. Suiruan’s prospectus shows a proposed issuance of 43.035173 mln shares, about 10% of post-issue capital; post-issue share count roughly 430 mln. The IPO targets 6 bln yuan to fund R&D and industrialization of 5th- and 6th-generation AI chips and advanced AI hardware-software co-innovation projects to bolster China’s domestic compute base.

美國財長貝森特：財政部計劃每週對伊朗實施更多二級制裁，先從銀行開始。