Today's Brief 今日简报 · 25 Sep 2026
China markets fall as breadth weakens sharply
中国市场下跌,跌幅股票占比大幅上升
22.9% of quoted listings rose while 65.6% fell. The SSE Composite closed at 3,888.37, down 1.22%, with Information Technology the worst performer at 2.83% lower.
22.9%的上市公司股票上涨,65.6%下跌。上证指数收于3888.37点,下跌1.22%,信息技术板块表现最差,下跌2.83%。
Market PerformanceClose, 24 Sep 2026
市场表现9月24日收盘
The eleven sectors, weighted by market value. The strongest and weakest industry in each.
十一大行业板块,按市值加权。各板块内最强与最弱的行业。
KSEC Intelligent Technology +20.03%
Ceyear Technologies +20.00%
Company Filings
公司公告
Jiangsu Boqian New Materials Stock 博迁新材, Hongfa 宏发股份, Shandong Huifa Foodstuff 惠发食品, Lihang Technology 立航科技, Anhui Xinke New Materials 鑫科材料, Kuncai Technology 坤彩科技 and Qinghai Spring *ST春天 all filed pledges of controlling shareholder stakes on 25 Sep. These filings suggest controlling shareholders are using their holdings as collateral, a common sign of liquidity pressure or financing needs.
Beijing Sun-Novo Pharmaceutical Research 阳光诺和 filed a litigation settlement on 25 Sep. China Sports Industry Group 中体产业 filed both a judgment and a litigation notice on the same day, relating to a subsidiary's appeal outcome.
Lianyungang Port 连云港 received an administrative penalty from the Lianyungang City Lianyun District Emergency Management Bureau on 25 Sep. Crystal Growth & Energy Equipment 晶升股份 received an administrative supervision measure from the Jiangsu Securities Regulatory Bureau on the same day.
Legislation and Policy
法规政策
The People's Bank of China held its third quarter 2026 monetary policy committee meeting on 24 Sep. Beijing released implementation guidance on improving commercial housing sales systems on 24 Sep. The National Financial Regulatory Administration reported that compulsory motor vehicle liability insurance paid out 252.4 billion yuan.
中国人民银行在9月24日召开2026年第三季度货币政策委员会例会。北京市在9月24日发布了完善商品住房销售制度的实施意见。国家金融监督管理总局报告交强险赔付2524亿元。
Beijing released a support management method for artificial intelligence plus audiovisual industry development projects for 2026 to 2029 on 24 Sep. Beijing announced 2027 new energy increment project competitive bidding for grid-connected electricity prices on 24 Sep. Shanghai announced vehicle fuel prices on 24 Sep.
北京市在9月24日发布了2026至2029年促进人工智能加视听产业高质量发展重点项目支持管理办法。北京市在9月24日公告2027年新能源增量项目机制电价竞价事项。上海市在9月24日公告车用汽、柴油价格。
Beijing called for submissions of 2027 key municipal projects on 23 Sep. Shanghai's Putuo District released a revised elderly meal assistance service assessment subsidy and reward management method on 23 Sep.
北京市在9月23日征集2027年市重点工程。上海市普陀区在9月23日发布修订后的老年助餐服务考核补贴与奖励管理办法。
Unverified Reports
未经核实报告
An unverified claim circulating on 24 Sep says Cambricon 寒武纪 has communicated to institutional investors that it expects to ship over 1 million units next year, but the claim has not been verified. Another unverified claim on 24 Sep says Labtech 莱伯泰科 produces vector network analysers, and a third says Hollywave 霍莱沃 produces them. Rigol 普源精电 also faces an unverified claim about vector network analyser market demand.
9月24日流传的未经证实的说法称寒武纪已向机构投资者沟通明年预期出货100万颗以上,但该说法尚未得到证实。9月24日另有未经证实的说法称莱伯泰科生产矢量网络分析仪,还有说法称霍莱沃生产该产品。普源精电也面临关于矢量网络分析仪市场需求的未经证实说法。
An unverified claim on 24 Sep says China Meheco 中国医药 answered only 2 of 10 investor questions at its half-year earnings call. An unverified claim on 23 Sep says Huagong Tech 华工科技 stated that US FCC rules on data centre optical modules currently have no impact on the company, and that the company will monitor developments and prepare contingency plans.
9月24日未经证实的说法称中国医药在半年度业绩说明会上仅回答了10条投资者提问中的2条。9月23日未经证实的说法称华工科技表示美国FCC关于数据中心光模块的规则目前对公司尚无影响,公司将持续跟踪并做好预案。
Unverified claims on 23 Sep say Optowide 腾景科技 has lost market share in OCS products, that Anbang Save-Guard 安邦护卫 is acquiring an overseas security company, and that Youyou Foods 有友食品 should issue a public clarification rather than only responding online to claims about E. coli contamination.
9月23日未经证实的说法称腾景科技在OCS产品上失去了市场份额,安邦护卫正在收购一家海外安保公司,有友食品应发布公告澄清而非仅在线回应大肠杆菌污染说法。
Earnings
业绩动向
Jiangxi Fushine Pharmaceutical 富祥股份 pre-announced on 18 Sep that net profit for the first nine months will rise by between 658.00% and 785.00% against the same period last year.
富祥股份在9月18日预告前三季度净利润同比增长658.00%至785.00%。
Shenyang Cuihua Gold and Silver Jewelry *ST萃华 has not filed its H1 report; the date standing with its exchange is 22 Aug 2026.
*ST萃华未提交中期报告,交易所规定日期为2026年8月22日。
Grinm Advanced Materials 有研新材, Sichuan Chuantou Energy 川投能源, Jinpan Smart Technology 金盘科技, Yutong Bus 宇通客车, Yutong Heavy Industries 宇通重工, Zhejiang Yiming Food 一鸣食品, Highton Development 海通发展, Beijing Geoenviron Engineering 高能环境 and Haitian 海天股份 have not filed Q3 reports; their exchange dates range from 13 Oct to 16 Oct 2026.
Market Voices
机构观点
| House 机构 | Said 观点 | When 时间 |
|---|---|---|
| S&P Global标普Global 全球 | S&P Global confirmed Chile's foreign currency credit rating at A/A-1 with a stable outlook. 确认智利外币信用评级为 A/A-1,展望保持稳定。 | 25 Sep 2026 06:13 Source 来源 |
| UBS瑞银Global 全球 | UBS expects Tesla to deliver 47万辆 vehicles in the third quarter. 预计特斯拉三季度车辆销售/交付47万辆。 | 25 Sep 2026 02:48 Source 来源 |
| Federal Reserve美联储Global 全球 | Federal Reserve official Beth Hammack said the economy faces successive shocks that heighten the risk of inflation expectations becoming entrenched, with upside risks to the inflation outlook. 经济面临接连不断的冲击 加剧了通胀心态固化风险 | 25 Sep 2026 00:29 Source 来源 |
| Citi花旗Global 全球 | Citi strategist Daniel Tobon said the yen breaking through 159 against the dollar would increase the risk of Japanese authorities taking action through rate checks or foreign exchange intervention. 日元兑美元跌破159将增加日本当局采取行动的风险 | 24 Sep 2026 23:23 Source 来源 |
| Federal Reserve美联储Global 全球 | Federal Reserve official Neel Kashkari said the Fed may need to raise rates again to bring down inflation. 美联储可能需要再次加息以降低通胀。 | 24 Sep 2026 22:12 Source 来源 |
| Allianz安联Global 全球 | Allianz said the El Niño phenomenon could cause global economic losses of 451 billion dollars in 2027. 厄尔尼诺现象或导致2027年全球经济损失4510亿美元 | 24 Sep 2026 22:04 Source 来源 |
What to Watch
关注要点
KSEC Intelligent Technology 昆船智能 rose 20.03% on turnover of 5.70亿 CNY, one of the day's biggest gainers.
昆船智能上涨20.03%,成交额5.70亿元,为当日涨幅最大的股票之一。
Precious Metals 贵金属 fell 5.07%, the worst-performing industry within Materials 原材料, which fell 2.53% overall.
贵金属下跌5.07%,是原材料板块内表现最差的行业,该板块整体下跌2.53%。
Electronic Components 元件 fell 4.46%, the worst-performing industry within Information Technology 信息技术, which fell 2.83% overall and was the weakest sector of the day.
元件下跌4.46%,是信息技术板块内表现最差的行业,该板块整体下跌2.83%,为当日表现最差的板块。