Market Overview - The Shanghai Composite Index closed at 3893.95 points, with a change of +0.45% [1] - The total trading volume of A-shares reached 1,720.325 billion yuan [1] Technical Analysis - A total of 177 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Xiamen Tungsten (600549) at -1.33% - Dier Laser (300776) at -1.09% - Shijia Photon (688313) at -1.07% [1] Individual Stock Performance - Xiamen Tungsten (600549) saw a decrease of 0.77% with a latest price of 29.45 yuan, which is 3.55% below the 10-day moving average [1] - Dier Laser (300776) increased by 1.71%, closing at 73.01 yuan, slightly above the 10-day moving average by 0.41% [1] - Shijia Photon (688313) rose by 4.18%, with a latest price of 75.74 yuan, which is 3.70% above the 10-day moving average [1] - Other notable stocks include: - Aike (688719) up by 3.49% at 40.32 yuan, close to the 10-day moving average [1] - Huayi (300045) increased by 0.56% to 23.53 yuan, 2.15% below the 10-day moving average [1] Additional Stock Insights - Stocks like Yinjia (603198) and Xianle (300791) experienced declines of 2.13% and 0.81% respectively, with prices below their 10-day moving averages [1] - The performance of other stocks such as Fangda (600507) and Yuntian (600096) also showed negative trends, with declines of 1.64% and 0.90% respectively [1]

Market Overview - As of 10:33 AM, the Shanghai Composite Index is at 3890.87 points, with a change of 0.37% [1] - The total trading volume of A-shares today is 1,257.44 billion yuan [1] Stocks with Death Cross - A total of 183 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Xiamen Tungsten (600549) with a distance of -1.38% - Shijia Photon (688313) with a distance of -1.17% - Aikesaibo (688719) with a distance of -1.16% [1] Individual Stock Performance - Xiamen Tungsten (600549) is down 1.35% with a latest price of 29.28 yuan, which is 4.06% below its 10-day moving average [1] - Shijia Photon (688313) is up 3.16% with a latest price of 75.00 yuan, which is 2.79% above its 10-day moving average [1] - Aikesaibo (688719) is up 2.28% with a latest price of 39.85 yuan, which is 1.10% below its 10-day moving average [1] Additional Stock Data - Other stocks showing a death cross include: - Laser (300776) down 1.30% with a latest price of 72.71 yuan, 0.03% above its 10-day moving average [1] - Huayi (300045) up 0.38% with a latest price of 23.49 yuan, 2.30% below its 10-day moving average [1] - Yinjia (603198) down 1.81% with a latest price of 43.40 yuan, 3.26% below its 10-day moving average [1]

Group 1 - Tianqi Lithium has initiated a pilot project for the annual production of 50 tons of lithium sulfide, utilizing self-developed technology and equipment for rapid mass production [1] - The company has completed experimental verification of new electrolyte preparation technology and is advancing the construction of a pilot line, indicating strong innovation in battery materials [1] - Tianqi Lithium has established systematic development capabilities for alloy anode materials, with some products entering the validation phase with cell customers [1] Group 2 - Funeng Technology has completed the sample delivery of the first generation of sulfide all-solid-state batteries and developed the second generation, which features a high energy density of 500Wh/kg [2] - The company plans to launch a third generation of sulfide all-solid-state batteries by 2027, aiming for energy density exceeding 500Wh/kg, which could enhance the performance and safety of electric vehicles [2] Group 3 - Xiamen Tungsten plans to reduce its stake in Ganzhou Tengyuan Cobalt Industry by no more than 1%, equating to a maximum of 2.9329 million shares [3] - This reduction may have a short-term impact on Tengyuan Cobalt's stock price, but it could also be a strategic move for Xiamen Tungsten to optimize its investment portfolio [3]

Group 1 - The company held its 17th meeting of the 10th Board of Directors on September 16, 2025, via communication methods, with all 9 directors present [1] - The Board approved a proposal to reduce its holdings in Ganzhou Tengyuan Cobalt Industry Co., Ltd. by up to 1.00% of the total share capital, which amounts to a maximum of 2,932,924 shares [1] - The reduction period is set for three months starting from 15 trading days after the announcement of the reduction plan [1] Group 2 - The company held its second extraordinary general meeting of shareholders on September 16, 2025, at its headquarters [4] - All resolutions presented at the meeting were approved, including amendments to the Articles of Association and the cancellation of the Supervisory Board [5][6] - The meeting was legally compliant with the Company Law and the company's Articles of Association, with all voting procedures deemed valid [8]

Group 1 - On September 16, 26 A-share listed companies disclosed share reduction plans, including companies like XinHua Co., MaiDi Technology, and ChengBang Co. [1] - Suzhou Bank's 12 directors and senior management completed a share buyback plan, with a total investment of nearly 5 million yuan [2] - LiXun Precision's vice chairman completed a share buyback of 200 million yuan, accumulating a total of 5 to 7 million yuan in 2022 [2] Group 2 - XinHua Co. plans to reduce holdings by no more than 75,200 shares [3] - MaiDi Technology's shareholders plan to collectively reduce 1.71% of the company's shares [3] - ChengBang Co. shareholders plan to reduce no more than 0.5% of the company's shares [3] - Other companies with planned reductions include Aters (2.04%), ZhongYou Technology (3%), and DeYe Co. (158,050 shares) [3]

Core Viewpoint - The company Tengyuan Cobalt (301219) has received notifications regarding share reduction plans from significant shareholders, Xiamen Tungsten (600549) and Changjiang Chenda (Hubei) New Energy Industry Investment Partnership, indicating potential changes in shareholding structure [1] Group 1: Share Reduction Plans - Xiamen Tungsten plans to reduce its holdings by up to 2,932,924 shares, which represents no more than 1% of the company's total share capital, within three months after 15 trading days from the announcement [1] - Changjiang Chenda also intends to reduce its holdings by up to 2,932,924 shares, similarly representing no more than 1% of the company's total share capital, through either centralized bidding or block trading within the same timeframe [1]

Core Viewpoint - The company Tengyuan Cobalt Industry (301219.SZ) has received a notice regarding share reduction plans from significant shareholders, Xiamen Tungsten Co., Ltd. and Changjiang Chendao (Hubei) New Energy Industry Investment Partnership, which may impact the stock performance in the near term [1] Group 1: Shareholder Actions - Xiamen Tungsten plans to reduce its holdings by up to 2,932,924 shares, which represents no more than 1% of the company's current total share capital, within three months after 15 trading days from the announcement [1] - Changjiang Chendao also intends to reduce its holdings by up to 2,932,924 shares, similarly representing no more than 1% of the company's current total share capital, within the same timeframe through either centralized bidding or block trading [1]

Core Viewpoint - Tengyuan Cobalt Industry (301219.SZ) announced that Xiamen Tungsten plans to reduce its shareholding by up to 2,932,924 shares, representing no more than 1% of the company's total share capital, within three months after the announcement [1] - Changjiang Chenda also plans to reduce its shareholding by the same amount and percentage under similar conditions [1] Summary by Category - **Shareholding Reduction Plans** - Xiamen Tungsten intends to reduce its stake in Tengyuan Cobalt through centralized bidding within three months after the announcement [1] - Changjiang Chenda has similar plans to reduce its stake, either through centralized bidding or block trading [1]

Summary of Key Points Core Viewpoint - On September 16, several companies disclosed their shareholding changes, with notable increases in holdings by some executives and significant reductions by others, indicating varied market sentiments and potential investment opportunities. Group 1: Increased Holdings - Suzhou Bank's 12 executives completed their share buyback plan, with a total investment of nearly 5 million yuan [3] - Luxshare Precision's Vice Chairman Wang Laisheng completed a 200 million yuan share buyback, bringing the total for 2022 to 500 million yuan [3] Group 2: Decreased Holdings - Newhua Co. plans to reduce holdings by up to 75,200 shares [3] - MediTech shareholders plan to collectively reduce 1.71% of the company's shares [3] - Chengbang Co. shareholders plan to reduce up to 0.5% of the company's shares [3] - Chahua Co.'s Director and Deputy General Manager Chen Zhihai plans to reduce up to 40,000 shares [3] - Artis shareholders plan to reduce up to 2.04% of the total share capital [3] - Zhongyou Technology shareholders plan to reduce up to 3% of the company's shares [3] - Deyang Co. plans to reduce up to 1.5805 million shares [3] - Changhua Group plans to reduce up to 5.3806 million repurchased shares [3] - Tiancheng Technology shareholders plan to reduce up to 1.68% of the company's shares [3] - Anzheng Fashion plans to reduce up to 1.87004 million repurchased shares [3] - Sichuan Gold shareholders plan to reduce a total of 1.5938% of the company's shares [3] - Zhongyan Co. plans to reduce up to 30,000 shares [3] - Fuchuang Precision shareholders plan to reduce up to 3% of the company's shares [3] - Beifang Huachuang plans to reduce 2.5919 million shares through centralized bidding [3] - Xiamen Tungsten plans to reduce up to 1% of Tengyuan Mining's shares [3] - Changgao Electric plans to reduce 3.465 million shares of its associate company [3] - Xinghua New Materials' specific shareholder plans to reduce 1.17% of the company's shares [3] - Tonghe Technology shareholders plan to reduce up to 3% of the company's shares [3] - Anlian Ruishi's Director Shen Lei plans to reduce up to 100,000 shares [3] - Yidong Electronics' controlling shareholder plans to reduce up to 2.96% of the total share capital [3] - Saiwei Times shareholders plan to reduce up to 3% of the company's shares [3] - Tiandi Digital shareholders plan to reduce up to 2.96% of the total share capital [3] - Wanjie Technology's Director and Deputy General Manager Liu Huaiqi plans to reduce up to 386,000 shares [3] - Haitai New Light's actual controller's concerted action plans to reduce up to 0.2102% of the shares [3] - Tengyuan Mining's Xiamen Tungsten and Changjiang Chen Dao plan to reduce up to 2% of the total share capital [3] - Yayi International's Director and senior management plan to reduce up to 540,000 shares [3]

Core Viewpoint - Ganzhou Tengyuan Cobalt Industry Co., Ltd. announced that two shareholders, Xiamen Tungsten Co., Ltd. and Changjiang Chenda (Hubei) New Energy Industry Investment Partnership, plan to reduce their shareholdings due to operational needs [1][2]. Group 1: Shareholding Details - Xiamen Tungsten holds 26,676,000 shares, representing 9.10% of the total share capital of Tengyuan Cobalt [1]. - Changjiang Chenda holds 15,137,933 shares, accounting for 5.16% of the total share capital [1]. Group 2: Reduction Plans - Xiamen Tungsten plans to reduce its holdings by up to 2,932,924 shares, not exceeding 1% of the total share capital, within a specified period from October 16, 2025, to January 15, 2026 [1][2]. - Changjiang Chenda also intends to reduce its holdings by the same amount and within the same timeframe, using either centralized bidding or block trading methods [1][2]. Group 3: Conditions and Implications - The reduction price will be determined based on market conditions at the time of the sale [2]. - The reduction plans do not violate any legal regulations and will not lead to a change in the company's control or governance structure [2].