China Business Daily

26 June 2026 · 13:35 CST · Daily intelligence brief

This edition draws on 48 reports across 13 Chinese outlets.

At a Glance

  • China’s 15th Five-Year Plan targets over 20 trillion yuan in total energy investment to build a clean, low‑carbon energy system by 2030. China Daily, 2026-06-26.
  • AI video generation consumes massive power – 5 seconds of HD video uses as much electricity as charging 10 mobile phones, driving a push for computing‑electricity coordination. m.21jingji.com, 2026-06-26.
  • Hong Kong stocks plunged, with the Hang Seng Tech Index dropping 3.32% by midday, led by steep losses in tech heavyweights such as Sunny Optical (–12%) and Zhipu AI (–10%). Securities Times, 2026-06-25.

Top Stories

Energy

  • Energy investments in 15th Five-Year Plan to exceed 20 trillion yuan · covered by 3 outlets

    • Total investment in China’s 15th Five-Year Plan key energy projects and new business forms will exceed 20 trillion yuan, according to the National Energy Administration. China Daily, 2026-06-26.
    • By 2030, China aims to preliminarily establish a clean, low‑carbon, safe, and efficient new energy system, with total energy production capacity reaching 5.8 billion tons of standard coal equivalent, according to the National Development and Reform Commission and the National Energy Administration. finance.eastmoney.com.
    • Non‑fossil energy consumption share will reach 25%, and wind and solar installed capacity share will exceed 50%, becoming the main power installation. finance.eastmoney.com.

  • China issues 15th Five-Year Plan for new energy system · covered by 5 outlets

    • By 2030, non‑fossil energy consumption will account for 25% of total energy consumption, and wind and solar installed capacity will exceed 50% of total power generation capacity, according to the National Development and Reform Commission and the National Energy Administration. Securities Times.
    • Pumped storage hydropower installed capacity will reach 160 GW, new energy storage installed capacity will reach 300 GW, and nuclear power capacity in operation will reach about 110 GW. Securities Times.
    • The number of charging infrastructure units will reach 40 million. Securities Times.

  • Energy bureau chief: AI video generation consumes huge power, need computing-electricity coordination · covered by 2 outlets

    • Generating 5 seconds of high‑definition video with AI consumes as much electricity as charging 10 mobile phones, according to National Energy Administration chief Wang Hongzhi. m.21jingji.com, 2026-06-26.
    • The ‘Kunlun’ large model in oil and gas exploration improves computing efficiency by more than 10 times, while the ‘Yudian’ large model in the power sector helps respond to wind and solar output fluctuations to improve renewable energy consumption. m.21jingji.com, 2026-06-26.
    • By the end of the 15th Five‑Year Plan period, China’s AI‑related industry scale is expected to exceed 10 trillion yuan, according to the National Data Administration. finance.eastmoney.com.
    • The plan promotes coordinated planning of computing and energy: in the west, integrate national computing hubs with large‑scale renewable bases; in the east, coordinate distributed computing with distributed power sources, microgrids, and virtual power plants. m.21jingji.com, 2026-06-26.

  • China completes world’s largest renewable energy system · covered by 2 outlets

    • China’s total installed power generation capacity reached 40.1 billion kW by the end of May, making it the first country to exceed 40 billion kW, according to the National Energy Administration. m.21jingji.com, 2026-06-26.
    • Non‑fossil energy installed capacity accounted for 62% of total, with wind and solar combined at 48.1%, and in 2025 wind, solar, and biomass new generation covered 97.1% of the increase in total social electricity consumption. m.21jingji.com, 2026-06-26.
    • China has built 46 UHV projects (22 AC, 24 DC) with cross‑provincial transmission capacity exceeding 340 GW. m.21jingji.com, 2026-06-26.
    • The 15th Five‑Year Plan targets total installed capacity of 5.4 billion kW by 2030, with wind and solar exceeding 50% and non‑fossil energy generation reaching 50%, and coal and oil consumption will peak by 2030, according to the National Energy Administration. Securities Times, 2026-06-24.

Policy

  • PBOC to conduct overnight reverse repo operations at end of June · covered by 3 outlets
    • The People’s Bank of China will add an overnight reverse repo operation variety in open market operations on June 29 and June 30, adopting a fixed rate and quantity bidding. finance.sina.com.cn, 2026-06-25.

Markets

  • Foreign funds rebalance: Morgan Stanley and Goldman increase A-share holdings · covered by 2 outlets

    • Morgan Stanley, Goldman Sachs International, and UBS Group became new top ten circulating shareholders of Golden Electric as of April 30, and also newly entered Fastprint Circuit as of April 24, according to Wind. finance.eastmoney.com.
    • Goldman Sachs International newly entered the top ten circulating shareholders of Botanee, Gaozheng Minbao, and Changgao Electric, and increased its holding in WeiTec Industry. finance.eastmoney.com.
    • Industry insiders said that while QFIIs generally agree on China’s structural opportunities, their specific operations differ due to capital nature, cyclical judgment, and strategic preference. m.21jingji.com, 2026-06-26.

  • 40 A-share companies issue risk warnings on storage, MLCC and other hot topics · covered by 3 outlets

    • GigaDevice (兆易创新) warns investors about the cyclical nature of the memory storage industry, and Zichen (聚辰股份) warns that storage chip prices are at historically high levels with uncertain future trends, according to company announcements. stock.caijing.com.cn, 2026-06-26.
    • Yunzhong Technology (昀冢科技) states that its MLCC products are mainly used in consumer electronics, not AI servers, and have not obtained AI server customer certification. stock.caijing.com.cn, 2026-06-26.
    • Torch Electron (火炬电子) states that its self‑produced MLCC business revenue as a percentage of main revenue is small, and its application in computing infrastructure is in early stages. stock.caijing.com.cn, 2026-06-26.

  • New stock surges over 630%, triggers second trading halt · covered by 3 outlets

    • Huike shares surged over 630% intraday on its listing day, later moderating to about 400%. finance.eastmoney.com.
    • Huike’s 85‑inch and above large LCD TV panel market share was 30.6% in April 2026, ranking first globally, and it forecast H1 2026 revenue of 200–220 billion yuan and net profit of 18.5–20.5 billion yuan. Securities Times.
    • In the first half of 2026, 68 new stocks listed on A‑shares with an average first‑day return of 280.7% , the highest in a decade; Changjin Photonics had the highest first‑day return of 1510.52%. finance.eastmoney.com.

  • Investigation reveals rampant advertising-style packaging and AI hype in HK IPO prospectuses · covered by 2 outlets

    • HKEX official Liu Ying said some IPO prospectus drafts have problems such as exaggerated language, unclear business model descriptions, beautified industry rankings, and vague revenue recognition, which seriously slow down IPO review speed. stock.caijing.com.cn, 2026-06-26.
    • A hotpot company claimed to be “the largest brand in China’s quality hotpot market with about 3.1% market share in 2024”, but its revenue of about 23 billion yuan was more than 18 times smaller than the leading company’s 427 billion yuan. finance.sina.com.cn, 2026-06-26.
    • A vending machine company described itself as an “AI‑driven retail enterprise” but essentially sells vending machines, while a computing power provider claimed to be “the largest independent AI computing cluster provider” despite technical strength lagging behind major internet companies. stock.caijing.com.cn, 2026-06-26.

  • Shenzhen adds 20 listed companies in first half, tops Chinese cities · covered by 2 outlets

    • Shenzhen added 20 listed companies in the first half of 2026, ranking first among cities nationwide, with 15 of these listed on the Hong Kong Stock Exchange, setting a new high for cross‑border listings, according to the Shenzhen Financial Office. m.21jingji.com, 2026-06-26.
    • China Resources New Energy raised 24.5 billion yuan in the largest IPO in the history of the Shenzhen Stock Exchange. m.21jingji.com, 2026-06-26.
    • Over 90% of Shenzhen’s newly listed companies focus on strategic emerging industries and future industries, and China’s securities regulator released Shenzhen as one of the first five pilot cities for capital market technology finance. m.21jingji.com, 2026-06-26.

  • Hong Kong stocks open sharply lower, Hang Seng Tech drops over 3% · covered by 6 outlets

    • The Hang Seng Index fell 1.87% and the Hang Seng Tech Index fell 3.32% at midday close. Securities Times, 2026-06-25.
    • Sunny Optical fell over 12%, Zhipu AI (a Chinese large-model developer) fell over 10%, MiniMax fell over 8%, SMIC fell over 6%, and CATL fell over 5%. Securities Times, 2026-06-25.
    • Tencent fell 3.65% to 417.2 HKD and Alibaba fell 3% to 99.8 HKD. Yicai.
    • Analysts noted that Korea’s stock market adjustment is normal and AI narrative continues, while global liquidity tightening and risks of high‑valuation assets were cited as concerns. Yicai.

  • U.S. stock movers: Trip.com Group falls 13.50%; memory chips rise · covered by 6 outlets

    • Trip.com Group fell 13.50%, Li Auto fell 2.58%, Alibaba fell 1.86%, XPeng fell 1.68%, NetEase fell 1.56%, and JD.com fell 1.14%. Economic Observer, 2026-06-25.
    • Memory chips and optical communication sectors rose; ARM, SanDisk, and Western Digital rose over 1%. Jiemian.
    • AI chip company Cerebras fell over 7%, expecting full‑year profit margins to fall below first‑quarter level. Jiemian.

Company

  • Private banks face dual pressure on lending and deposits · covered by 2 outlets

    • Chongqing Fumin Bank suspended acceptance of new deposits for personal 2‑year and longer term products via online channels from June 15, and Beijing Zhongguancun Bank removed personal and corporate lump‑sum 3‑year deposit products from May 30. China Daily, 2026-06-26.
    • As of Q1 2026, private banks’ net interest margin was 3.62% , down 0.21 percentage points from Q4 2025, the largest drop among all bank types, according to the financial regulator. China Daily, 2026-06-26.
    • Regulatory authorities in multiple regions have issued window guidance since May requiring that the growth rate of co‑lending channel loans not exceed that of self‑operated channel loans, and that financing guarantee business share not exceed 25%. China Daily, 2026-06-26.
    • Yilian Bank sharply reduced its internet loan cooperation platforms from 56 to 10 in September 2025, and its internet consumer loan balance at end‑2025 was 8.918 billion yuan, down 8.543 billion yuan from end‑2024. finance.sina.com.cn, 2026-06-26.

  • *ST ShuaiDian to acquire 100% of Huijia Technology for cash · covered by 2 outlets

    • *ST ShuaiDian plans to acquire 100% of Huijia Technology via cash payment, with a preliminary valuation between 450 million and 500 million yuan, according to the company announcement. estate.caijing.com.cn, 2026-06-26.
    • The transaction is at a preliminary stage and is expected to constitute a major asset restructuring without share issuance or backdoor listing. estate.caijing.com.cn, 2026-06-26.
    • Huijia Technology primarily engages in power equipment, smart grid solutions, and related IT services; shareholders are Li Lianqiang (51.02%), Si Yingchang (41.75%), and Ningbo Huijia Enterprise Management Partnership (7.23%). estate.caijing.com.cn, 2026-06-26.

Tech

  • China’s domestic mobile phone shipments surge 16.5% year-on-year in May · covered by 2 outlets

    • China’s domestic mobile phone shipments in May 2026 were 27.639 million units, up 16.5% year‑on‑year, according to the China Academy of Information and Communications Technology. economy.caijing.com.cn, 2026-06-26.
    • E‑commerce platforms advanced their “618” promotion schedules this year: JD.com started on May 6, and platforms like Taobao, Tmall, and Douyin moved pre‑sale dates 7 to 10 days earlier than in 2025. economy.caijing.com.cn, 2026-06-26.
    • AI‑capable phones are accounting for an increasing share of the replacement market, becoming a core driver for activating the upgrade cycle. economy.caijing.com.cn, 2026-06-26.

  • Doubao Pro launches with three-tier pricing; Tesla China to integrate Doubao large model · covered by 2 outlets

    • Doubao Professional Edition launched with three‑tier pricing: standard 68 yuan/month, enhanced 200 yuan/month, and premium 500 yuan/month. m.21jingji.com, 2026-06-25.
    • Tesla China’s vehicle system will integrate the Doubao large model for vehicle control while using DeepSeek for interactive chat. m.21jingji.com, 2026-06-25.
    • Five Chinese ministries jointly launched a pilot for industrial 5G independent private networks, supporting large enterprises in key industries. m.21jingji.com, 2026-06-25.

Also Reported

Further developments selected for today’s brief; tap a source to read the original.

Sources

48 source articles across 13 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

Energy investments in 15th Five-Year Plan to exceed 20 trillion yuan — 3 outlets

China issues 15th Five-Year Plan for new energy system — 5 outlets

Energy bureau chief: AI video generation consumes huge power, need computing-electricity coordination — 2 outlets

China completes world’s largest renewable energy system — 5 outlets

Foreign funds rebalance: Morgan Stanley and Goldman increase A-share holdings — 3 outlets

Private banks face dual pressure on lending and deposits — 2 outlets

40 A-share companies issue risk warnings on storage, MLCC and other hot topics — 3 outlets

China’s domestic mobile phone shipments surge 16.5% year-on-year in May — 2 outlets

PBOC to conduct overnight reverse repo operations at end of June — 3 outlets

New stock surges over 630%, triggers second trading halt — 3 outlets

*ST ShuaiDian to acquire 100% of Huijia Technology for cash — 2 outlets

Investigation reveals rampant advertising-style packaging and AI hype in HK IPO prospectuses — 2 outlets

Shenzhen adds 20 listed companies in first half, tops Chinese cities — 2 outlets

Hong Kong stocks open sharply lower, Hang Seng Tech drops over 3% — 6 outlets

Analysis: Capital operations hide structural risks at Anfu Technology — 2 outlets

Han’s Laser plans 2.52 billion yuan investment in fiber optic project despite recent losses — 3 outlets

Methodology: stories are clustered across Chinese outlets and ranked by breadth of corroboration and recency. Reporting is descriptive only and is not investment advice. Compiled 26 June 2026 13:35 CST.

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