China Business Daily

2 July 2026 · 23:19 CST · Daily intelligence brief

This edition draws on 31 reports across 11 Chinese outlets.

CSRC approves Unitree Technology’s STAR Market IPO registration in a record 104-day review; tech stocks plunge for a second day with ChiNext down 5.71%; new A-share trading rules take effect July 6, expanding after-hours fixed-price trading and raising ST stock limits to 10%.

At a Glance

  • Unitree Technology wins IPO registration in a record 104 days, planning to raise 4.202 billion yuan at a 42 billion yuan valuation. finance.eastmoney.com.
  • Tech-stock rout deepens: the STAR 50 Index shed 7.7% as of the July 2 close, with ChiNext down 5.71% and the Shanghai Composite down 2.03%; total turnover fell 209.5 billion yuan. National Business Daily.
  • New A-share trading rules go live July 6, raising the price limit for main-board risk-warning stocks from 5% to 10% and expanding after-hours fixed-price trading. m.21jingji.com.

Top Stories

Company

  • CSRC approves Unitree Technology’s STAR Market IPO registration · covered by 2 outlets
  • The China Securities Regulatory Commission (CSRC) approved Unitree Technology (宇树科技; a Chinese humanoid-robot developer)’s IPO registration on the STAR Market on July 1, 2026, with the approval valid for 12 months; the company must report major events to the Shanghai Stock Exchange during the effective period, according to the CSRC. finance.ce.cn.
  • Unitree’s IPO registration was completed 104 days after acceptance, setting a record for the fastest review under the pre-screening mechanism, and it plans to raise 4.202 billion yuan at an estimated valuation of 42 billion yuan. finance.eastmoney.com.

  • Unitree shipped over 5,500 humanoid robots in 2025, the highest globally; revenues grew from 159 million yuan in 2023 to 1.699 billion yuan in 2025, with non-GAAP net profit reaching 591 million yuan in 2025. finance.eastmoney.com.

  • Huayi Microelectronics terminates IPO, merges into Huatian Technology · covered by 2 outlets

  • Huatian Technology (华天科技; a domestic integrated-circuit packaging and testing leader) plans to acquire 100% equity of Huayi Microelectronics (华羿微电; a Chinese semiconductor design and packaging company) for 2.996 billion yuan, an appraisal premium of 166.17%, according to the company’s restructuring report. finance.sina.com.cn.

  • Huayi Micro’s design business unit commits net profits of no less than 139 million yuan, 166 million yuan, and 189 million yuan for 2026, 2027, and 2028 respectively; its packaging and testing unit commits cumulative net profit to be positive over the period. Securities Times.

  • Nayuki Holdings turns into penny stock as shareholders question losses · covered by 3 outlets

  • Nayuki Holdings (奈雪的茶; a Chinese tea-chain operator) fell to 0.65 HKD per share as of the July 2 trading session, becoming a penny stock, and has dropped over 96% from its IPO price of 19.8 HKD per share. stock.caijing.com.cn.
  • Nayuki posted losses in four of five fiscal years after listing and did not achieve profitability in fiscal 2025; average order value at directly operated stores dropped from 43.3 yuan in the first three quarters of 2020 to 24.4 yuan in 2025. finance.sina.com.cn.

  • Despite share repurchases of about 4.79 million HKD in the first half of June, the stock remains under pressure; about 10 individual shareholders attended the annual general meeting, and one questioned why the chairman does not take an annual salary of 1 yuan. Securities Times.

  • Pharma company abandons Hong Kong IPO, chair cites long queue · covered by 1 outlet

  • Nuosiland (诺思兰德; a Chinese biopharmaceutical company) terminated its H-share listing plan and instead plans to raise up to 300 million yuan through a private placement of A-shares, according to company announcements. 36Kr.

  • Chairman Xu Songshan said many companies are queuing for H-share listings, causing long wait times, and that the Beijing Stock Exchange encourages sci-tech enterprises to meet funding needs via onshore refinancing; the company disclosed its Hong Kong listing plan in October 2025 and terminated it on June 30, 2026. 36Kr.

  • Estun subsidiary to acquire Nanjing Estun equity · covered by 2 outlets

  • Estun (埃斯顿; a Chinese industrial-automation company) announced on July 2, 2026 that its wholly-owned subsidiaries Estun Robot and Dingtong Electromechanical plan to acquire equity of Nanjing Estun Co., Ltd. via cash payment, according to company announcements. Securities Times.

  • After the transaction, Estun will indirectly hold 100% equity of Nanjing Estun Co., Ltd., which engages in R&D, production, and sales of collaborative robots (3-35 kg load capacity) and embodied intelligent robots, with downstream applications in automotive, home appliances, 3C electronics, and food logistics. finance.eastmoney.com.

  • Yonghe Chemical’s fluoropolymer business boosts H1 net profit by 69.5% YoY · covered by 1 outlet

  • Yonghe Co. (永和股份; a Chinese fluorochemical company) expects net profit for the first half of 2026 of 460 million to 550 million yuan, an increase of 69.51% to 102.68% year-on-year, attributing the growth to high refrigerant prices and rising volume and price of fluoropolymer materials, according to the company’s performance forecast. Securities Times.

Policy

  • New A-share trading rules to take effect next Monday · covered by 2 outlets
  • A-share trading rules will be implemented on July 6 (next Monday), expanding after-hours fixed-price trading to all A-shares and Shanghai/Shenzhen ETFs, according to the Shanghai, Shenzhen, and Beijing stock exchanges. m.21jingji.com.
  • The price limit for main-board risk-warning stocks (ST and ST) will be adjusted from 5% to 10%*, the Shanghai Stock Exchange will change the closing trading method for funds from continuous auction to closing call auction, and the Shenzhen Stock Exchange will introduce a market-maker system on the ChiNext board. finance.eastmoney.com.

Energy

  • Global EV market enters accelerated growth phase · covered by 1 outlet
  • The International Energy Agency (IEA) forecasts global EV sales of 23 million units in 2026, nearly 30% of new-car sales, and that by 2035 the global EV stock will reach 510 million, more than six times the 2025 level, with EVs at about 50% of global car sales. finance.sina.com.cn.
  • In Q1 2026, EV sales grew nearly 30% in Europe, 80% in Asia-Pacific excluding China, and 75% in Latin America; from January to May 2026, China exported 1.833 million new energy vehicles, a 1.1-fold increase year-on-year. finance.sina.com.cn.
  • In April 2026, Brazil’s imports of Chinese EVs more than doubled year-on-year, making it the largest single export destination for Chinese EVs, while other Asian countries imported 20% more, becoming the largest import market. finance.sina.com.cn.

Markets

  • Tech stocks plunge for second day; semiconductor sector leads decline · covered by 3 outlets
  • As of the July 2 close, the Shanghai Composite fell 2.03%, the Shenzhen Component fell 3.85%, the ChiNext Index fell 5.71%, and the STAR 50 Index fell sharply by 7.7%; total turnover in Shanghai and Shenzhen was about 3.45 trillion yuan, down about 209.5 billion yuan from the previous trading day. National Business Daily.

  • The semiconductor sector adjusted sharply, with GigaDevice and other stocks hitting daily downside limits, while the precious-metals sector rose against the market as Zhaojin Gold and Chifeng Gold hit upside limits; 2,219 stocks rose and 3,162 fell, with 156 hitting the daily limit up and 41 the limit down. Securities Times Jiemian.

  • New A-share accounts in H1 surge 60% to 20.16 million · covered by 1 outlet

  • In June 2026, new A-share accounts opened numbered 2.8646 million, up 3.6% month-on-month and 73.99% year-on-year; in the first half of 2026, cumulative new A-share accounts reached 20.1613 million, up 60% year-on-year. finance.eastmoney.com.

Also Reported

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

Sources

31 source articles across 11 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

CSRC approves Unitree Technology’s STAR Market IPO registration — 5 outlets

New A-share trading rules to take effect next Monday — 3 outlets

Global EV market enters accelerated growth phase; China auto dealers flag July pressure — 3 outlets

Huayi Microelectronics terminates IPO, merges into Huatian Technology — 2 outlets

Tech stocks plunge for second day, multiple leading names hit limit-down — 2 outlets

Nayuki Holdings turns into penny stock as shareholders question losses — 3 outlets

New A-share accounts in H1 surge 60% to 20.16 million — 3 outlets

Pharma company abandons Hong Kong IPO, chair cites long queue — 2 outlets

Estun subsidiary to acquire Estun Cozmo equity — 2 outlets

Yonghe Chemical’s fluoropolymer business boosts H1 net profit by 69.5% YoY — 2 outlets

ChiNext index closes down 5.71%, semiconductor sector leads decline — 2 outlets

Private funds bet on AI theme for H2, citing industry fundamentals — 2 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 2 July 2026 23:19 CST.

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