Jin Rong Jie·2026-01-19 00:59Capital Market Developments - The People's Bank of China announced a reduction in the re-lending and re-discount rates by 0.25 percentage points, with new rates set at 0.95%, 1.15%, and 1.25% for 3-month, 6-month, and 1-year re-lending respectively [3] - Hong Kong's equity financing market saw explosive growth in 2025, with total financing reaching HKD 612.2 billion, a year-on-year increase of 250.91%. The IPO market regained its global lead with 117 companies raising HKD 285.8 billion, up 224.24% year-on-year [3] - A-share market experienced a significant increase in institutional research, with 1,357 institutions conducting approximately 4,897 research sessions, focusing on information technology, industrial machinery, and healthcare sectors [3] Industry Insights - The storage market has seen DDR5 memory prices rise over 300% since September 2025, while DDR4 memory prices increased by over 150%. AI servers are consuming 53% of global memory production capacity, significantly impacting consumer-grade memory supply [6] - In semiconductor materials, a breakthrough was achieved by a team from Xi'an University of Electronic Science and Technology, enhancing chip cooling efficiency and device performance through innovative technology [6] - The commercial space sector marked a significant milestone with the successful verification of landing buffer technology for manned spacecraft, indicating progress in key technologies within the domestic commercial space industry [7] Company Developments - Guizhou Moutai issued a warning against fraudulent applications for its Flying Moutai product, emphasizing that sales contracts are being signed directly with verified corporate clients [8] - Guolian Minsheng expects a net profit of CNY 2.008 billion for 2025, an increase of CNY 1.611 billion, representing a growth of approximately 406% year-on-year [8] - Container technology company Longxin Storage plans a USD 4 billion stock issuance, aiming to compete with Micron Technology and leading Korean firms amid rising AI-driven demand for storage chips [10] - Alibaba is integrating its Qwen chatbot into its ecosystem, allowing users to perform tasks like ordering food and booking flights without navigating multiple applications [10]