Sept 9 — China’s Lingchu Intelligent and Top Group signed a strategic cooperation agreement to co-develop and manufacture embodied AI hardware for B2B industrial applications, integrate resources, and accelerate scaling and commercial deployment of Lingchu’s embodied intelligence business.

MORGAN STANLEY cut Longyuan Power (00916.HK) H-share PT to HK$6 from HK$7.5 (-20%) and A-share PT to 14.6 yuan from 17 yuan (-14%), while maintaining a market-weight rating. It trimmed 2026 and 2027 revenue forecasts by 15% and 11% and cut profit forecasts by 45% and 32%, citing weaker-than-expected wind resources from El Nifio that reduced wind generation, higher market-traded electricity volumes that further pressured wind on-grid tariffs, and the removal of VAT refunds for onshore wind projects from Nov 2025. The bank expects utilization hours to moderately recover in 2027–28 after El Nifio subsides.

The U.S. Treasury announced a new round of Iran-related sanctions.