Zhitong Hong Kong stocks have known for a long time | London copper futures closing price is close to historic highs, opinions issued to develop new quality productivity

[Today's headlines]

London copper futures closed close to record highs last Friday

Last Friday, the price of copper closed at about 14,622 US dollars/ton. The closing price of London copper futures on Friday was close to a record high. A number of Wall Street institutions issued warnings one after another: global copper supply continues to shrink, and prices may rise again.

“Copper remains one of our most confident commodity topics,” wrote Théa Ziegler, a member of UBS's US equity advisory sales team on Friday. She pointed out that demand growth brought about by electrification and data center construction is expected to continue to exceed supply growth, and the structural support of copper prices remains unwavering. Théa Ziegler believes that the copper supply gap will continue until the early 2030s. At the same time, the two major variables of the Chilean mine strike and the global inventory crisis are being superimposed, further reducing the buffer space in the market.

Electrification, data center construction, and ongoing supply constraints will continue to support copper's long-term constructive future. For investors, the core conclusion is that supply growth is expected to lag behind demand growth in the next few years, which will support copper prices to remain high — although tariffs and trade policies remain uncertain in the short term.

[General outlook]

The Nasdaq China Golden Dragon Index rose 2.69%

Overnight, the Dow Jones Industrial Average rose 423.31 points from the previous trading day, or 0.83%, to close at 51654.95 points, up 0.93% last week; the S&P 500 stock index rose 46.18 points, or 0.59%, to close at 7811.54 points, up 1.15% last week; the Nasdaq Composite Index rose 172.83 points to close at 27366.17 points, or 0.64% last week.

Most popular technology stocks rose; Amazon rose more than 3%; Microsoft and Tesla rose more than 2%; non-ferrous metals and cryptocurrency concept stocks had the highest gains. Southern Copper rose more than 5%, Coinbase rose more than 4%, and BHP Billiton rose more than 2%. The telecommunications services, agricultural products, and oil and gas sectors had the highest declines, with the US Pioneer falling more than 6% and Vodafone falling by more than 5%.

Popular Chinese securities collectively strengthened. The Nasdaq China Golden Dragon Index rose 2.69% to 5753.78 points. New energy vehicle companies and e-commerce stocks had the highest gains. In terms of individual stocks, Ideal Auto rose 5.87%, Alibaba 5.36%, and NIO 4.99%. The Hang Seng Index ADR rose. On a proportional basis, it closed at 24420.75 points, up 209.40 points or 0.86% from the Hong Kong closing market.

WTI crude oil futures on the New York Mercantile Exchange rose $0.17 for the month, or 0.19%, to close at $91.66 a barrel. COMEX gold futures rose by $63.30 in the same month, or 1.52%, to $4220.3 per ounce.

[Hot Topics Preview]

The CPC Central Committee and the State Council issued “Opinions on Developing New Quality Productivity”

The “Opinion” coordinates development and safety, is guided by scientific and technological innovation, with a significant increase in total factor productivity as the core symbol, promotes revolutionary breakthroughs in technology, innovative allocation of factors of production, deep industrial transformation and upgrading, promotes the optimal combination and upgrading of workers, labor data, and labor objects, comprehensively promotes scientific and technological innovation, industrial innovation, innovation in development methods, institutional mechanism innovation, and talent work mechanism innovation, and accelerates the formation of production relationships more compatible with new quality productivity. It creates a good development ecosystem conducive to the deep integration of scientific and technological innovation and industrial innovation to better support high-quality development.

The US launched 337 investigations against a number of Chinese companies involving Lixun Precision, Foxconn, etc.

On October 9, 2026, EST, the US International Trade Commission (USITC) issued an announcement to officially launch the 337 investigation of “specific vertical power transmission systems, their components, and computing systems containing such systems”. Research product range: Vertical power transmission systems and their components for data center servers, artificial intelligence and cloud computing systems to power artificial intelligence (AI) accelerators, tensor processing units (TPUs), graphics processing units (GPUs), and central processing units (CPUs), and computing systems containing these systems. The US customs codes for the products involved include 8501, 8504 series, 8542, etc., covering products related to power converters and integrated circuits.

Ledong Robotics (01236) and Huazhong University of Science and Technology officially signed a cooperation agreement on flexible three-dimensional tactile sensing for figurative robots

The company is committed to continuing to promote the technical layout of new sensors, deep AI integration, and spatial interaction models through comprehensive sensing solutions and technological and industrial accumulation of intelligent robot machines, and to promote the evolution of robots from simple environmental perception to deep scene understanding. This cooperation is an important practice for the company to consolidate the “physical AI perception infrastructure” strategy, and also marks a key step in improving the multi-modal sensing technology system.

Fubo Group (03738) subsidiary plans to acquire all shares of Anqing International for HK$75 million

The target company has the ability to independently develop AI video generation and digital watermarking technology and intellectual property rights (including its Dreamesh platform, which can integrate content protection functions into the generation process), which can complement the Group's existing digital content asset protection business.

Jizhijia-W (02590) plans to spend 50 million yuan to subscribe to Beijing Shenyi Jingjing to expand 20% of its registered capital

Beijing Shenyi is a limited liability company established in China on January 26, 2026. It is a company focusing on physical artificial intelligence. It is committed to building a general-purpose embodied brain for real-world tasks, enabling robots to continuously learn and evolve themselves in a real-world environment, and ultimately create universal productivity across tasks, entities, and scenarios. Prior to this transaction, Mr. Liu directly and indirectly held 81.10% of Beijing Shenyi's shares. Therefore, Beijing Shenyi is a related person of this company.

Fuwei Group (01828) plans to acquire 25% of the shares of Porter Insurance (Hong Kong) Limited for US$20.72 million

According to reports, Bote Insurance (Hong Kong) Limited is a company incorporated in Hong Kong and is authorized to operate general insurance business in or from Hong Kong under the Insurance Industry Ordinance. The target company is currently a wholly-owned subsidiary of the seller, which is ultimately owned by Bolttech Holdings. Its main business is general insurance underwriting in or from Hong Kong.

Qingling Motor Co., Ltd. (01122) plans to acquire approximately 30.43% of the shares in all Isuzu engines held by the Qingling Group

Isuzu Engine is an enterprise specializing in the production and sale of high-tech, high-quality Isuzu diesel and gasoline engines and core components. The machine processing production line has an annual production capacity of 141,000 units, and the total annual production capacity of engines is 100,000 units. Isuzu engines have introduced 35 machining, heat treatment, assembly and testing production lines in Japan, the United Kingdom, and the United States, and are equipped with more than 500 sets of advanced equipment.

Guanghe Technology (01989) is pleased. Net profit of 1.45 billion yuan to the mother is expected to increase by 100.33%-107.23% year-on-year in the first three quarters

The company's overseas factory, Thailand Guanghe, completed the audit and certification of core customers according to the original plan. Along with key customer certification and product introduction, and the gradual release of production capacity, it became the second engine driving sales growth of the company's computing power products and achieved profits during the reporting period. During the reporting period, Huangshi Guanghe Precision Circuit Co., Ltd., a wholly-owned subsidiary of the company, continued to promote cost control, adjust product structure, increase production efficiency during the reporting period, and increase profitability levels year-on-year.

Pudate Technology (00650) obtained orders for 29 new equipment, including single-piece cleaning equipment and furnace tube LPCVD equipment

Pudat Technology (00650) issued an announcement. As the company's various semiconductor equipment platforms continue to be delivered to customers and verified, the company has accumulated extensive mass production experience and received industry recognition, thus providing the company with favorable conditions for obtaining formal orders in larger quantities. Since the announcement date, the company has received a total of 29 new equipment orders, 14 of which are new orders for semiconductor equipment, including single-chip cleaning equipment and furnace tube LPCVD equipment. These equipment systems are mainly used in customers' high-end specialty process semiconductors and third-generation semiconductor production lines.

Johnson Electric Holdings (00179) expects profit attributable to shareholders of $50 million to $58 million for the medium term to decrease 56% to 62% year over year

Performance is mainly affected by a number of factors. The Group's sales and costs are denominated in multiple currencies and are therefore subject to foreign exchange risk. Compared to the same period last year, a significant portion of the decrease in net profit was due to foreign-related effects. Significant foreign exchange earnings were achieved in the same period last year, and the same profit was not achieved for the six months ended September 30, 2026. The overall impact of foreign exchange over the two periods is estimated to have reduced net profit by about 49 million US dollars to 55 million US dollars compared to the same period last year.

[Individual stock prices are clear]

Jingwang Electronics (03228) expects net profit to be increased by 205.46% to 264.74% year-on-year in the third quarter

Jingwang Electronics (03228) announced that it is expected to achieve net profit attributable to owners of the parent company of RMB 939 million to RMB 1,116 million during the period, up 294.34% to 368.68% year on year, and 239.90% to 303.97% month on month.

Benefiting from the acceleration of mass production and shipment of high-performance PCBs in the field of high-speed communication and AI data infrastructure, combined with multiple measures such as reasonable cost and price transmission, order structure optimization, and internal cost reduction and efficiency in the general product sector, the Group is expected to achieve year-on-year and relatively rapid growth in revenue and net profit during this period.

By the end of this period, the Group had plenty of orders in hand in the field of AI servers, data centers, and high-speed optical modules, and the production capacity utilization rate and yield were high, and the Group is making every effort to ensure the achievement of delivery targets.