China Business Daily

13 September 2026 · 07:29 CST · Daily intelligence brief

This edition draws on 41 reports across 10 Chinese outlets.

At a Glance

  • Hong Kong’s IPO market raised over HK$360 billion so far this year, with 108 new listings as of September 11. National Business Daily, 2026-09-12.
  • China’s NDRC (top economic planning agency) promoted 36 investment projects with total estimated investment of RMB 61.4 billion, seeking RMB 15.6 billion of private capital. People’s Daily, 2026-09-13.
  • CATL (a Chinese battery maker) launched A-share history’s largest cancellation-style buyback, planning RMB 20–40 billion of repurchases. 21st Century Business Herald, 2026-09-12.

Top Stories

Markets

  • Hong Kong IPOs raise more than HK$360 billion so far this year · covered by 1 outlet
  • Since the start of this year, Hong Kong’s IPO market total fundraising including over-allotment exceeded HK$360 billion, ranking among the top exchanges globally. National Business Daily, 2026-09-12.
  • As of September 11 this year, 108 new stocks had listed on the Hong Kong market, according to Wind data (a Chinese financial-data provider). National Business Daily, 2026-09-12.
  • The total fundraising amount was HK$364.176 billion, according to Wind data. National Business Daily, 2026-09-12.

  • A batch of A-share leading companies such as Shenghong Technology (a Chinese materials company), Luxshare Precision (a Chinese electronics maker), and Zhongji Innolight (a Chinese optical-module maker) have successively listed on the Hong Kong Stock Exchange. National Business Daily, 2026-09-12.

  • A-shares launch largest-ever cancellation-style share buyback · covered by 3 outlets

  • CATL (宁德时代) repurchased 604,300 A-shares for the first time via centralized bidding on September 11, representing 0.0131% of total share capital, for about RMB 200 million, according to CATL. 21st Century Business Herald, 2026-09-12.
  • CATL planned to repurchase RMB 20–40 billion of A-shares with its own or self-raised funds at a maximum price of RMB 573 per share, all to be cancelled to reduce registered capital, according to CATL. National Business Daily, 2026-09-11.

  • CATL’s buyback scale far exceeded Gree Electric’s (a Chinese appliance maker) RMB 15 billion single repurchase record set in 2021, making it the largest single buyback plan in A-share history. National Business Daily, 2026-09-11.

  • Goldman Sachs raises global optical module forecasts; suppliers report 800G/1.6T progress · covered by 3 outlets

  • Goldman Sachs raised its 2026–2028 global optical module (CPO) shipment forecasts by more than 20% versus prior estimates. Sina Finance, 2026-09-12.
  • Goldman Sachs expects 2028 global optical module shipments to reach 729 million units and the market size to reach $148 billion. Sina Finance, 2026-09-12.

  • According to Wind data, the combined “prepayments + inventory − goods shipped” of 41 A-share optical module concept stocks exceeded RMB 116.8 billion at end-June 2026, up more than 48% from end-2025. Sina Finance, 2026-09-12.

  • Shanghai Composite falls 1.18% as commentary weighs external headwinds against H1 corporate growth · covered by 1 outlet

  • On September 11 the Shanghai Composite Index fell 1.18% to close at 3,888.11 points. Sina Finance, 2026-09-13.
  • In the first half of this year China’s GDP grew 4.7% year-on-year and value-added of industrial enterprises above designated size grew 5.4% year-on-year. Sina Finance, 2026-09-13.

  • The 5,557 listed companies that disclosed half-year reports posted combined operating revenue of RMB 37.76 trillion, up 7.6%, and net profit of RMB 3.58 trillion, up 19.5%. Sina Finance, 2026-09-13.

  • Chinese ADRs mostly rise as US stocks snap four-day losing streak; oil slumps · covered by 2 outlets

  • The Nasdaq Golden Dragon China Index rose nearly 1% on September 11 as Chinese ADRs rebounded, with NIO (a Chinese EV maker) up more than 3%. Sina Finance, 2026-09-11.
  • International oil prices fell on September 11, with WTI futures at $99.44 a barrel and Brent at $104.77 a barrel. Sina Finance, 2026-09-11.

Policy

  • NDRC pitches investment projects to private firms, seeking 15.6 billion yuan of private capital · covered by 2 outlets
  • China’s National Development and Reform Commission (国家发展改革委; the top economic planning agency) promoted a batch of 36 investment projects to private enterprises, according to the NDRC. People’s Daily, 2026-09-13.
  • The promoted projects focus on four key fields: transportation, logistics, water conservancy and energy, according to the NDRC. People’s Daily, 2026-09-13.

  • The total estimated investment of the promoted projects is RMB 61.4 billion, and they are intended to bring in RMB 15.6 billion of private capital, according to the NDRC. People’s Daily, 2026-09-13.

  • State media says AI support must move beyond crude subsidy competition · covered by 2 outlets

  • Multiple regions have launched a new round of support policies for the AI industry, with innovative tools such as computing power vouchers, model vouchers, corpus vouchers, and training power vouchers emerging. People’s Daily, 2026-09-12.
  • Some local subsidies lack differentiation and have imbalanced standards, applying a one-size-fits-all approach to enterprises, resulting in low payout rates and idle or wasted funds. People’s Daily, 2026-09-12.
  • Some regions blindly follow the trend in laying out AI projects, with similar support plans, falling into a “others do it so I do it” competition trap, leading to homogeneous competition, resource misallocation, and even low-level repetitive construction. People’s Daily, 2026-09-12.

Company

  • Kaiying Network takes stake in Wemade as Legend IP ownership is restructured into a closed loop · covered by 3 outlets
  • Kaiying Network (恺英网络; a Chinese game developer) plans to acquire a 49% stake in Neosphere Co., Limited through its wholly-owned Hong Kong subsidiary Cypress Technology HK Limited, according to Kaiying Network. National Business Daily, 2026-09-12.
  • NeoPulse, an indirectly wholly-owned subsidiary of Neosphere, is the entity that previously announced plans to acquire a 39.33% stake in Wemade and become its new largest shareholder, according to Kaiying Network. National Business Daily, 2026-09-12.

  • According to Gamma Data (a Chinese game-industry data provider), the Legend IP market reached RMB 35.55 billion in 2025 and has stably remained above RMB 30 billion for years. National Business Daily, 2026-09-12.

  • A-share company faces forced delisting over severe financial fraud · covered by 2 outlets

  • The China Securities Regulatory Commission issued a prior administrative penalty notice to *ST Zhuoran over suspected false records in periodic reports and other financial data, according to the CSRC. Sina Finance, 2026-09-12.
  • The CSRC plans to fine the listed company RMB 12.5 million, fine six responsible individuals a combined RMB 35.8 million, and impose a 10-year securities market ban on the actual controller. Yicai, 2026-09-12.

  • ST Zhuoran’s annual reports from 2021 to 2024 contained false records, with cumulative inflated total profit exceeding RMB 280 million over the four years, plus major omissions in the prospectus and failure to timely disclose the actual controller’s detention, according to ST Zhuoran. Sina Finance, 2026-09-12.

  • Zhu Baoguo, 64, resigns as chairman of two listed pharma companies in one day · covered by 2 outlets

  • Zhu Baoguo (朱保国; a Chinese pharma executive) resigned for retirement reasons from all positions including chairman at Health Yuan (a Chinese pharma company), remaining as actual controller, according to a Health Yuan announcement. Eastmoney, 2026-09-12.
  • Health Yuan’s board elected company director and president Lin Nanqi as chairman of the ninth board, according to Health Yuan. Eastmoney, 2026-09-12.

  • Livzon Pharmaceutical Group (a Chinese pharma company) appointed 39-year-old executive director and president Liu Daping as chairman of the twelfth board, according to Livzon Pharmaceutical Group. Eastmoney, 2026-09-12.

  • A-share firm 605303 plans major asset restructuring with move into controller chips · covered by 3 outlets

  • Landscape Co., Ltd. (园林股份; a Chinese A-share company) is planning to acquire control of Hangzhou Hualan Microelectronics Co., Ltd. through issuing shares and paying cash, according to Landscape. 21st Century Business Herald, 2026-09-12.
  • The transaction is expected to constitute a major asset restructuring, is not expected to constitute a restructuring listing, and will not cause a change in the company’s controlling shareholder or actual controller, according to Landscape. 21st Century Business Herald, 2026-09-12.

  • Hualan Microelectronics (a Chinese storage-controller chip maker) was established in 2011; its business scope includes technology development of electronic products, electronic equipment, computer software and hardware, servers, integrated circuits and application products, and data storage and information security products, according to Landscape. 21st Century Business Herald, 2026-09-12.

  • New second-largest shareholder takes 7% premium stake in STAR-listed 688004 · covered by 2 outlets

  • Seven transferors including BOHUI Technology’s (博汇科技; a Chinese STAR-listed company) controlling shareholders agreed to transfer a combined 11.6956 million shares, or 14.60% of total share capital, to Mingxin Hongzhi via negotiated transfer, according to BOHUI Technology. Securities Times, 2026-09-12.
  • The transfer price was RMB 20.40 per share for total consideration of RMB 239 million, representing a premium of about 7.26% over the company’s September 11 closing price of RMB 19.02 per share, according to BOHUI Technology. Securities Times, 2026-09-12.

  • Mingxin Hongzhi was newly established on September 10, the day before the agreement was signed, with capital contribution of RMB 1 million and Zeng Weijia as general partner, according to BOHUI Technology. Securities Times, 2026-09-12.

  • Zhongjuxin to invest 1.1 billion yuan in semiconductor-grade high-purity quartz, target still loss-making · covered by 3 outlets

  • Zhongjuxin (中巨芯; a Chinese semiconductor materials company) associate company Jingheng Xidao plans to sign an investment agreement with Quzhou Zhizao Xincheng Management Committee to invest about RMB 1.1 billion via a wholly owned subsidiary to build a 2,220-ton-per-year high-purity quartz materials project, according to Zhongjuxin. Sina Finance, 2026-09-12.
  • Phase one of the project will build 720 tons per year of high-purity quartz materials with total investment of about RMB 333 million, starting construction within 6 months of the land transfer contract and completing/starting production within 28 months, according to Zhongjuxin. Sina Finance, 2026-09-12.
  • In the first half of 2026, Zhongjuxin achieved operating revenue of RMB 799 million, up 40.98% year on year, and net profit attributable to shareholders of RMB 14.0577 million, up 72.75%, according to Zhongjuxin. National Business Daily, 2026-09-11.

Macro

  • International institutions turn more upbeat on China’s growth outlook as new drivers emerge · covered by 1 outlet
  • In its latest September issue of Finance & Development, the IMF wrote that emerging industries such as new energy vehicles, robots, innovative drugs and artificial intelligence are accelerating to become new engines of China’s economic growth, according to the IMF. 21st Century Business Herald, 2026-09-13.
  • IMF Resident Representative in China Marshall Mills said that at the start of 2026, supported by strong exports and effective policy support, China’s economy has ample growth momentum, according to the IMF. 21st Century Business Herald, 2026-09-13.
  • Jonathan Krane, Global CEO of US-based KraneShares, said China remains one of the world’s most important destinations for long-term investment themes and that he is highly confident in the future of the Chinese market and the next wave of Chinese innovation, according to KraneShares. 21st Century Business Herald, 2026-09-13.

Tech

  • China’s 2025 software and IT services revenue hits 15.48 trillion yuan as MIIT issues ‘AI + Software’ plan · covered by 1 outlet
  • In 2025 the software and IT services industry’s overall revenue reached RMB 15.48 trillion, 6.2 times the 2012 level, with a 15.1% average annual compound growth rate. People’s Daily, 2026-09-13.
  • The Ministry of Industry and Information Technology issued the “AI + Software” Special Action Implementation Plan, deploying work across six areas including advancing software production reform and cultivating new agent-software business formats, according to MIIT. People’s Daily, 2026-09-13.

  • As of August 2026, the national-level AI open-source community AtomGit hosted over 80,000 models and 370,000 datasets, with more than 12 million registered users, according to Li Bo, deputy secretary-general of the OpenAtom Open Source Foundation. People’s Daily, 2026-09-13.

  • Shanghai ranks first in 2026 China regional science and technology innovation index · covered by 3 outlets

  • On September 11, the China Academy of Science and Technology for Development released the “China Regional Science and Technology Innovation Evaluation Report 2026” at the Pujiang Innovation Forum (a Shanghai innovation event), according to the Academy. 21st Century Business Herald, 2026-09-12.
  • China’s overall science and technology innovation level scored 81.13 points, up 0.93 points from the previous year, according to the Academy. 21st Century Business Herald, 2026-09-12.
  • Shanghai, Beijing, Jiangsu, Guangdong, Zhejiang and Tianjin are the six provinces and municipalities leading the nation in comprehensive science and technology innovation level, according to the Academy. 21st Century Business Herald, 2026-09-12.

Also Reported

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

Sources

41 source articles across 10 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

Hong Kong IPOs raise more than HK$360 billion so far this year — 2 outlets

NDRC pitches investment projects to private firms, seeking 15.6 billion yuan of private capital — 3 outlets

A-shares launch largest-ever cancellation-style share buyback — 3 outlets

Kaiying Network takes stake in Wemade as Legend IP ownership is restructured into a closed loop — 4 outlets

A-share company faces forced delisting over severe financial fraud — 2 outlets

Zhu Baoguo, 64, resigns as chairman of two listed pharma companies in one day — 2 outlets

A-share firm 605303 plans major asset restructuring with move into controller chips — 3 outlets

International institutions turn more upbeat on China’s growth outlook as new drivers emerge — 1 outlet

People’s Daily urges China’s software industry to leapfrog into a new development track — 1 outlet

New second-largest shareholder takes 7% premium stake in STAR-listed 688004 — 2 outlets

State media says AI support must move beyond crude subsidy competition — 2 outlets

Optical module stocks jump as sector leader hits limit-up on institutional backing — 3 outlets

Shanghai ranks first in 2026 China regional science and technology innovation index — 3 outlets

Commentary argues China’s stock market should not fall on external headwinds — 1 outlet

Chinese ADRs mostly rise as US stocks snap four-day losing streak; oil slumps — 3 outlets

Zhongjuxin to invest 1.1 billion yuan in semiconductor-grade high-purity quartz, target still loss-making — 3 outlets

Neta Auto revival launched as Taiyi Shenglian moves to restart the EV maker’s operations — 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 13 September 2026 07:29 CST.

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