Zhitong Hong Kong Stock Early Knowledge | Spot silver breaks through the $50 mark for the first time, Ministry of Commerce announces strengthened export controls on rare earth-related items

【Today's Headlines】

Ministry of Commerce and General Administration of Customs: Export controls implemented on lithium batteries, cathode materials, and artificial graphite anode materials

According to Zhitong Finance APP, on October 9th, the Ministry of Commerce and the General Administration of Customs announced the decision to implement export controls on lithium batteries and artificial graphite anode materials. In accordance with the relevant provisions of the Export Control Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, the Customs Law of the People's Republic of China, and the Regulations on the Export Control of Dual-Use Items of the People's Republic of China, in order to safeguard national security and interests and fulfill international obligations such as non-proliferation, and with the approval of the State Council, it was decided to implement export controls on items related to lithium batteries, cathode materials, and graphite anode materials. The announcement will officially take effect on November 8, 2025. The List of Dual-Use Items Export Control of the People's Republic of China will be updated simultaneously.

【Market Outlook】

U.S. stock indices all fell, Nasdaq China Golden Dragon Index down 2%

Overnight, U.S. stocks closed with the Dow Jones down 243.36 points, a decrease of 0.52%, closing at 46,358.42 points; the Nasdaq fell 18.75 points, a decrease of 0.08%, closing at 23,024.63 points; the S&P 500 index fell 18.61 points, a decrease of 0.28%, closing at 6,735.11 points. Nvidia (NVDA.US) rose nearly 2%, while Google (GOOG.US), Apple (AAPL.US), and AMD (AMD.US) all fell by around 1%. New stock Alliance Laundry Holdings (ALH.US) closed up 12.82%. The rare earth sector saw widespread gains, with Critical Metals up nearly 25%, USA Rare Earth up nearly 15%, NioCorp Developments up over 12%, Energy Fuels up over 9%, and MP Materials up over 2%.

The Nasdaq China Golden Dragon Index closed down 2%, with Alibaba (BABA.US) down 4% and XPeng (XPEV.US) down 5%. The Hang Seng Index ADR fell, closing at 26,503.3 points, down 249.29 points or 0.93% compared to the Hong Kong close. International gold prices plummeted nearly $100, with COMEX gold futures for the current month down $97.90, a decrease of 2.41%, closing at $3,972.6 per ounce.

【Hot Topics Ahead】

Ministry of Commerce spokesperson answers reporters' questions regarding export controls on superhard materials and related items

According to Zhitong Finance APP, on October 9th, the spokesperson for the Ministry of Commerce answered reporters' questions regarding the implementation of export controls on superhard materials and related items. The spokesperson stated that in accordance with the Export Control Law of the People's Republic of China and other relevant laws and regulations, on October 9th, the Ministry of Commerce, in conjunction with the General Administration of Customs, issued an announcement regarding the implementation of export control measures on superhard materials, rare earth equipment and raw materials, five types of medium and heavy rare earths including holmium, lithium batteries, and artificial graphite anode materials, which will officially take effect on November 8th. Prior notifications have already been made to relevant countries and regions Spot silver surges fiercely, breaking the $50 mark for the first time

The price of spot silver continues to soar as the market tightens, with investors flocking to precious metals for safety. On Thursday, spot silver rose more than 2% in a single day, surpassing $50 per ounce, marking the highest single-day figure for some institutions since 1993, exceeding the peak in 2011. Silver prices have increased by over 70% this year, surpassing the record rise in gold prices. Concerns over U.S. fiscal risks, an overheated stock market, and threats to the independence of the Federal Reserve have led investors to increasingly seek safe-haven assets, of which this is a part. Meanwhile, the shortage of freely available silver in the key London market supports prices and significantly raises the cost of borrowing silver. This involves Hong Kong-listed China Silver Group (00815).

Yihuatong (02402) signs equity transfer agreement with Toyota Motor

According to Zhitong Finance APP, Yihuatong (02402) announced that the company held its 20th meeting of the third board of directors on December 16, 2024, to review and approve the proposal regarding the planned capital increase for the joint venture and related transactions, agreeing that the company and Toyota Motor will jointly increase their capital in the joint venture Huafeng Fuel by a total of 1.9 billion Japanese yen (JPY 190,000 million, approximately RMB 89.6135 million). Among them, the company's capital increase amount is 950 million Japanese yen (JPY 95,000 million, approximately RMB 44.8068 million).

Orient Overseas International (00316): Orient Overseas' line revenue decreased by 8.3% year-on-year to approximately $6.696 billion in the first nine months

According to Zhitong Finance APP, Orient Overseas International (00316) announced its unaudited operational summary for the third quarter ending September 30, 2025, showing that line revenue decreased by 25.9% compared to the same period last year, reporting $2.264 billion. Total cargo volume increased by 0.7%, and capacity increased by 4.2%. The overall load factor decreased by 2.8% compared to the same period in 2024, and the overall average line revenue per standard container decreased by 26.5% compared to the third quarter of last year.

IDC: Global PC market overall shipment volume increased by 9.4% in the third quarter, reaching 75.9 million units

Preliminary results released by International Data Corporation (IDC) show that in the third quarter of 2025, the global traditional personal computer market demonstrated sustained vitality and accelerated growth: total shipments reached 75.9 million units, an increase of 9.4% compared to the same period last year. Lenovo Group (00992) retained its position as the world's largest PC market share holder, with PC shipments reaching 19.4 million units in the third quarter of 2025, capturing a market share of 25.5%.

Sunny Optical (02382) plans to transfer Shanghai Aolai for approximately 1.903 billion yuan and merge with GoerTek to layout AI/AR optical business

Sunny Optical Technology (02382) announced that according to the memorandum of understanding signed with GoerTek and GoerTek Optical, on October 9, 2025, the company, its wholly-owned subsidiary Sunny Zhejiang Optical, Ningbo Shunao, Ningbo Shuncheng, the wholly-owned subsidiary of Sunny Zhejiang Optical Ningbo Aolai, and Shanghai Aolai signed a share exchange merger agreement with GoerTek and GoerTek Optical, under which Ningbo Aolai (together with Ningbo Shunao and Ningbo Shuncheng) agreed to transfer all equity of Shanghai Aolai to GoerTek Optical for a consideration of approximately 1.903 billion yuan In exchange for GoerTek's newly registered capital totaling approximately RMB 529.5 million.

Xianruida Medical-B (06669): Intravenous Radiofrequency Ablation System Obtains 510(K) Market Access License from the U.S. Food and Drug Administration

According to Zhitong Finance APP, Xianruida Medical-B (06669) announced that on October 7, 2025, the group's intravenous radiofrequency ablation system received the 510(k) market access license from the U.S. Food and Drug Administration. This system includes the CedarTM intravenous radiofrequency catheter and the intravenous radiofrequency generator, which are used together to treat lower limb varicose veins caused by superficial venous reflux. The company has signed a distribution agreement with a member company of the BSC Group for the sale of this product in the United States. In the future, the BSC Group will timely begin to promote the commercialization of this product in the U.S.

Fuhong Hanlin (02696): Hansuzhuang® (Sruvolumab Injection) Combined with Chemotherapy Achieves Primary Endpoint in Phase 3 Clinical Study for Neoadjuvant/Adjuvant Treatment of Gastric Cancer

According to Zhitong Finance APP, Fuhong Hanlin (02696) announced that a Phase 3 clinical study comparing the company's independently developed Hansuzhuang® (Sruvolumab Injection) or placebo combined with chemotherapy (Oxaliplatin + Tegafur) for neoadjuvant/adjuvant treatment of gastric cancer has achieved the primary endpoint of event-free survival (EFS) in a planned interim analysis, as assessed by the Independent Data Monitoring Committee (IDMC), which supports early application for market approval.

Yunzhisheng (09678) Successfully Wins Multiple AI Capability Platform and Agent Projects at Beijing Friendship Hospital

According to Zhitong Finance APP, Yunzhisheng (09678) announced that the company has successfully won multiple AI capability platform and agent projects at Capital Medical University Beijing Friendship Hospital, further deepening the service relationship with Beijing Friendship Hospital based on current cooperation, and marking significant progress in the company's technology implementation and commercial application in the smart healthcare field.

Yaoshibang (09885) Third Quarter Brand Promotion Business Transaction Volume Approximately RMB 658.4 Million, Up 163% Year-on-Year

According to Zhitong Finance APP, Yaoshibang (09885) announced that in the third quarter of 2025, the transaction volume of the brand promotion business (including the group's own brand business) was approximately RMB 658.4 million, an increase of 163% year-on-year; the transaction volume of the group's own brand business was approximately RMB 491.5 million, an increase of 334.2% year-on-year.

Jinli Yongci (06680) Issues Performance Upgrade, Net Profit Attributable to Parent Company for First Three Quarters Estimated at RMB 505 Million to RMB 550 Million, Up 157%-179% Year-on-Year

According to Zhitong Finance APP, Jinli Yongci announced a performance upgrade for the first three quarters of 2025, estimating the net profit attributable to shareholders of the listed company to be between RMB 505 million and RMB 550 million, an increase of 157%-179% year-on-year Huazhu Group-S (01179): During the National Day and Mid-Autumn Festival holiday, hotels under its brand received over 10.55 million guests, a year-on-year increase of 36%

On October 9th, reporters learned from Huazhu Group that during the 2025 National Day and Mid-Autumn Festival holiday, hotels under Huazhu received over 10.55 million guests, a year-on-year increase of 36%. Among them, over 57,000 foreign guests were received, a year-on-year increase of 75%.

Fast Retailing (06288) releases annual results, with net profit attributable to shareholders of 433.009 billion yen, a year-on-year increase of 16.4%, resuming trading on October 10th

According to Zhitong Finance APP, Fast Retailing (06288) released its annual results for the year ending August 31, 2025, with the group achieving revenue of 3,400.539 billion yen, a year-on-year increase of 9.6%; net profit attributable to parent company shareholders was 433.009 billion yen, a year-on-year increase of 16.4%; basic earnings per share for the year were 1,411.44 yen.

New Stock Dark Market

Zhida Technology (02650) will be listed in Hong Kong on October 10th. As of the close of the dark market, trading showed a price of HKD 190.30, up 184.37% from the offering price of HKD 66.92, with a profit of HKD 6,169 per lot of 50 shares, excluding fees. Zhida Technology is the largest supplier of home electric vehicle charging piles in China.

The new Hong Kong stock Golden Leaf International Group (08549) saw its dark market price rise over 800% at one point. It is reported that the public offering of Golden Leaf International was oversubscribed by over 9,030 times, becoming the highest oversubscription ratio for a new stock in Hong Kong history.

CNOOC (00883): Progress on the controlling shareholder's increase in Hong Kong stock holdings and risk warning

China National Offshore Oil Corporation announced the progress of its controlling shareholder's increase in shareholding. On April 9, 2025, it disclosed a plan to increase holdings of A-shares and Hong Kong stocks within 12 months, with an amount of 2 to 4 billion yuan. As of October 8, a total of 22,098,000 Hong Kong shares had been increased, accounting for 0.05% of the total share capital, with an amount of 332 million yuan. The increasing entity is the controlling shareholder and actual controller, who held 735,626,000 Hong Kong shares before the increase, accounting for 1.55%. This increase plan may not meet expectations due to market changes, and although the original plan has passed halfway, the actual increase amount has not reached the lower limit of 50%, and further increases will continue to be made at an opportune time.

【Stock Highlights】

Ganfeng Lithium (01772): Solid-state batteries have reached cooperation with well-known drone and eVTOL companies

Ganfeng Lithium announced that the company has a complete integrated layout of solid-state batteries and possesses commercialization capabilities. The company has research and production capabilities in key areas of solid-state batteries, including sulfide electrolytes and raw materials, oxide electrolytes, lithium metal anodes, battery cells, and battery systems. The company has launched a flight series power supply suitable for the low-altitude economy, with high energy density batteries covering a range of 320Wh/kg to 550Wh/kg, with a maximum cycle life of 1,000 cycles, having passed the automotive standard GB38031-2020, and has reached cooperation with well-known drone and eVTOL companies. The company is actively introducing strategic investors in the energy storage sector to assist in financing and high-quality sustainable development