Market Insights: Factors Influencing Stock Market Trends

Date: February 12, 2026

Macroeconomic Updates

1. On February 11, the State Council held its 18th special study session themed around the extensive application of “Artificial Intelligence+” across various industries. Premier Li Qiang emphasized the importance of deeply understanding and implementing General Secretary Xi Jinping’s directives on AI development, urging a comprehensive push for innovations in AI technology, industry growth, and application enhancements to foster new productive forces and promote high-quality development.
2. The General Office of the State Council recently issued the “Implementation Opinions on Perfecting the Nationwide Unified Electricity Market System.” This document outlines strategies for optimizing the allocation of electricity resources nationwide and improving the pathways for achieving a unified electricity market system. It also sets a target for completing the nationwide unified electricity market system by 2035, with a steadily increasing proportion of market-driven electricity transactions.
3. The State-owned Assets Supervision and Administration Commission has stated that central enterprises should enhance investment traction, actively expand effective investments in computing power, and promote collaborative development of “computing power + electricity,” thereby improving data governance capabilities throughout the entire chain and solidifying the foundation for the AI industry.
4. A French organization recently proposed that the EU impose an overall tariff of approximately 30% on China. Sources indicate that if France insists on pushing this proposal forward, China could consider launching anti-dumping and countervailing investigations against EU products, particularly French wines.
5. U.S. President Trump has stated a desire to continue negotiations with Iran, with no concrete decisions reached with Netanyahu. Iranian officials have indicated that discussions with the U.S. are ongoing to determine the timing for the next round of negotiations.
6. In January, U.S. non-farm payrolls increased by 130,000, surpassing expectations of a 65,000 rise, and marking the largest increase in over a year. Traders have pushed back expectations for the Federal Reserve to resume interest rate cuts until July.

Industry News

1. Multiple users reported that DeepSeek has conducted updates on both its web and app platforms, supporting context lengths of up to 1 million tokens. The context length was expanded to 128K in the DeepSeek V3.1 release last August.
2. Wang Fang, the chief scientist at the China Automotive Technology & Research Center, announced at a recent industry conference that the draft for GB/T “Solid-State Batteries for Electric Vehicles Part 1: Terminology and Classification” was completed by December 2025, with a public review period ending on February 28, 2026. Testing and validation will take place from January to February 2026, with a review and approval expected by April 2026 and a formal release in July 2026.
3. According to data from the central bank, the Shanghai Composite Index closed at 3968.8 points at the end of 2025, an increase of 18.4% compared to the end of 2024. The Shenzhen Composite Index reached 13525.0 points, up 29.9% year-over-year. The average daily trading volume in both markets was 17,045.4 billion yuan, up 61.9% from 2024.
4. International oil prices have recently seen fluctuations upwards, with significant premiums for crude oil funds. Southern Fund has adjusted the purchase threshold for its Southern Crude Oil LOF fund to 1 yuan. This year, Huazhang’s S&P Global Oil has a purchase limit of 2 yuan, while other funds have limits ranging from 5 to 10 yuan.
5. The China Association of Automobile Manufacturers reported on February 11 that the automotive industry maintained stable operations in January 2026, with production and sales reaching 2.45 million and 2.346 million vehicles, respectively. Production grew by 0.01% year-over-year, while sales declined by 3.2%. The new energy vehicle market remained stable, with production and sales of 1.041 million and 945,000 vehicles, marking year-on-year increases of 2.5% and 0.1%, respectively.

Company News

1. According to a response from Zhongji Xuchuang on an interactive platform, CSP clients place orders directly with the company, with no intermediate layers involved.
2. Juli Rigging announced that it has not signed any agreements related to a 458 million yuan project in Hainan. The company reported achieving a total order amount of 9.9651 million yuan in the commercial aerospace sector for 2025.
3. NetEase released its financial report, showing an operating profit of 35.8 billion yuan for 2025, a year-on-year increase of 21%.
4. Tianqi Model announced plans to purchase a 60% stake in Dongshi Shares, and its stock has resumed trading.
5. Tianji Shares disclosed that it is under investigation by the Securities Regulatory Commission for suspected violations of information disclosure regulations.
6. Kaixin Network reported that its subsidiary has signed a settlement agreement with the Legend IP, anticipating a positive impact of about 200 million yuan on its current profit.
7. Pingzhi Information announced plans for a private placement to raise no more than 1 billion yuan for the construction of a domestic smart computing power center.
8. Lanshi Heavy Industry stated that its deputy general manager, Wang Bingzheng, is under investigation for disciplinary violations and criminal offenses.
9. Unigroup announced a plan to raise no more than 5.57 billion yuan for the acquisition of a 6.98% stake in Xinhua San.
10. Jinhaitong announced an investment of up to 400 million yuan for the establishment of a semiconductor equipment manufacturing center in Shanghai.
11. Xinxin Shares plans to acquire a 70% stake in PCB tool company Huilian Electronics for no more than 700 million yuan.
12. Orient Telecom announced that its Inner Mongolia Smart Computing Center project has been partially completed and delivered, contributing a small proportion of revenue.

Global Market Overview

The three major U.S. stock indices experienced slight declines, with the Dow Jones down 0.13%, the Nasdaq down 0.16%, and the S&P 500 down by 0.01%. Popular tech stocks showed mixed performance, while storage-related and mining sectors saw notable gains. The Livermore Chinese concept stock index rose by 0.4%, with most popular Chinese stocks increasing.

WTI crude oil futures rose by 1.05% to $64.63 per barrel, while Brent crude oil futures increased by 0.87% to $69.40 per barrel. COMEX gold futures climbed by 1.53% to $5107.8 per ounce, and COMEX silver futures rose by 4.6% to $84.085 per ounce.

Apple’s upgrade to the Siri virtual assistant has faced obstacles during the testing phase, potentially delaying the release of several anticipated features. Meta Platforms plans to invest over $10 billion in building a data center campus in Lebanon, Indiana, expected to be operational by late 2027 or early 2028.

Investment Opportunities

1. As the rocket launch industry enters a period of high-density activity, 3D printing is poised for significant growth. The demand for rapid iteration and cost efficiency has made 3D printing a vital manufacturing technology, especially for complex components like rocket engines. Companies such as Deep Blue Aerospace and Blue Arrow Aerospace are already applying 3D printing technology in thrust chambers. Southwest Securities notes that the 3D printing sector is transitioning from prototyping to large-scale production, with a low penetration rate in various applications, indicating substantial market potential for early movers.
2. Ant Financial’s Aifu has launched a Chinese New Year red envelope activity on Alipay, which could further develop AI healthcare applications. Recent analyses suggest that major model manufacturers are strengthening their healthcare initiatives, supported by favorable policies. With 83 AI medical models released domestically covering various scenarios, the potential of applications like Aifu illustrates the market’s robust demand.

Stock Suspension and Resumption

Suspended: None

Resumed: 002510 Tianqi Model, 300091 *ST Jinling, 000820 *ST Energy Saving, 000430 ST Zhangjiajie

Announcements

1. Unigroup announced the termination of its plan to issue H-shares and list on the Hong Kong Stock Exchange during its board meeting on February 11, 2026, based on strategic considerations.
2. Yuan Dong Biological announced plans to participate in the continuation procurement of 13 products following the expiration of the national collection agreement.
3. Weilan Lithium Core has decided to withdraw from the capital increase in the Gree Indonesia project due to strategic adjustments by Gree.
4. Jinhaitong plans to invest up to 400 million yuan in establishing a semiconductor equipment manufacturing center in Shanghai.
5. Kaixin Network’s subsidiary has signed a settlement agreement with Legend IP, expecting a positive impact of about 200 million yuan on current profits.
6. New Star Shares aims to acquire a 70% stake in PCB tool company Huilian Electronics for no more than 700 million yuan.
7. Longbai Group announced plans to purchase a 5.46% stake in Yunnan Guotai for 234 million yuan.
8. Dawei Technology clarified that its Zhangbei Data Center project does not involve computing power leasing.

Performance Reports

1. Guobo Electronics reported a net profit of 508 million yuan for 2025, a year-on-year increase of 4.72%.
2. Daotong Technology achieved a net profit of 935 million yuan in 2025, a 45.89% rise from the previous year.
3. Jingchen Shares recorded a net profit of 871 million yuan for 2025, up 6% year-on-year.
4. Microelectromechanical Systems reported a net profit decrease of 1.76% for 2025, totaling 51.15 million yuan.
5. State Grid Information Communication reported a net profit of 678 million yuan for 2025, down 16.91% year-on-year.

Share Buybacks

Quzhou Dongfeng plans to repurchase company shares for an amount between 50 million and 100 million yuan, with a repurchase price cap of 6.48 yuan per share.

Shareholding Changes

Coray Technology announced that major shareholders plan to collectively reduce their stake by no more than 3.13%.

Major Contracts

1. Roman Shares has signed a contract worth 260 million yuan for a wind power project in collaboration with a mechanical engineering company.
2. China Science and Technology has recently won a bid for a project valued at approximately 288 million yuan.
3. Shan Jian Shares won four contracts exceeding 500 million yuan each, totaling 4.834 billion yuan in January alone.
4. Orient Tower secured a procurement project from the State Grid valued at about 111 million yuan.
5. Nipe Mining Machinery’s subsidiary signed a contract for supplying wear parts for a mining project.
6. Taiji Industry’s joint venture was awarded a contract for the Huahong FAB9B project, valued at 3.778 billion yuan.
7. *ST Songfa’s subsidiary signed a shipbuilding contract worth approximately 1.7-2 billion USD.
8. Railway Technology signed sales contracts totaling 511 million yuan with several railway construction entities.
9. Pudong Construction’s subsidiary won multiple significant projects, totaling 1.41 billion yuan.