MIIT: Moderately advance the layout and construction of 5G, develop an upgraded version of "5G + Industrial Internet," and accelerate the development of satellite internet.

(1) Major Market News

1. On March 16, the Ministry of Industry and Information Technology held a cadre meeting. The meeting emphasized the need to implement key tasks with a “nailing” spirit to ensure a good start for the “14th Five-Year Plan.” Promote deep integration of informatization and industrialization. Appropriately advance the layout of new information infrastructure such as 5G and intelligent computing, creating an upgraded version of “5G + Industrial Internet.” Launch digital transformation initiatives in manufacturing, deeply implement “Artificial Intelligence + Manufacturing” actions, and cultivate a number of specialized intelligent entities. Accelerate the development of satellite internet.

2. The three major U.S. stock indices closed higher, with the Dow up 0.83%, the Nasdaq up 1.22%, and the S&P 500 up 1.01%. SanDisk rose over 6%, Western Digital over 5%, Micron Technology over 3%; ASML rose over 2%, NVIDIA over 1%. The Nasdaq Golden Dragon China Index closed up 0.95%, at 7,215.84 points. Among popular Chinese concept stocks, BYD initially rose 8.2%, Xiaomi 5.4%, Li Auto 5.3%, and NIO 3.1%. On March 16, in European markets, Germany’s DAX 30 index closed up 0.50% at 23,564.01 points. France’s CAC 40 rose 0.31% to 7,935.97 points. Italy’s FTSE MIB increased 0.07% to 44,347.56 points, and the FTSE Italy All-Share Banking Index rose 0.02%. The UK FTSE 100 gained 0.55% to 10,317.69 points.

3. On March 16, in New York, spot gold fell 0.23% to $5,007.93 per ounce. COMEX gold futures declined 0.89% to $5,016.80 per ounce. Spot silver rose 0.33% to $80.8580 per ounce. COMEX silver futures fell 0.33% to $81.045 per ounce. ICE dollar index in New York dropped 0.68%, hitting a daily low of 99.660 points. Offshore RMB (CNH) against the USD was 6.8890, up 175 points from last Friday’s New York close. Onshore RMB (CNY) closed at 6.8908 at 03:00 Beijing time, up 135 points from last Friday’s night session. WTI April crude oil futures fell $5.21, nearly 5.28%, to $93.50 per barrel. Brent May crude oil futures rose $2.93, up 2.84%, to $100.21 per barrel.

(2) Industry Highlights

1. On March 16, the State Administration for Market Regulation officially approved the establishment of the National Satellite Internet System and Service Standardization Technical Committee. In recent years, with the accelerated construction of low-earth orbit satellite constellations, satellite internet applications in direct mobile connections, emergency communications, marine fisheries, transportation logistics, and remote area communications have expanded. China’s satellite internet industry ecosystem is becoming increasingly active, and industry capabilities are strengthening. To fully leverage standardization’s leading and foundational role in new satellite internet infrastructure, accelerate the development of standards for satellite internet terminology, in-orbit constellation operation assessments, and key system products, continuously improve the satellite internet standard system, participate actively in international standard-setting, and promote rapid, standardized, and healthy industry development.

Comment: As space resource competition intensifies, satellite internet has become a new frontier in global technological competition. The space economy is expected to evolve into a new industry sector involving satellite communications, navigation, remote sensing, and space tourism. The satellite-ground communication industry is projected to reach 200-400 billion yuan by 2030, with an annual compound growth rate of 10%-28%. It is at a critical turning point from “proof of concept” to “scalable application.” As technology matures, costs decrease, and application scenarios expand, a new integrated “sky-earth, all-connected” communication pattern will form over the next decade, becoming a key driver of high-quality digital economic growth. Concept stocks include Guanglian Aerospace, Yinbang Shares, and Tianyin Electromechanical.

2. On March 16, the Ministry of Industry and Information Technology, Ministry of Finance, and National Development and Reform Commission issued a notice on pilot projects for comprehensive hydrogen energy applications. By 2030, hydrogen energy in urban clusters will achieve large-scale application across multiple fields, with the terminal hydrogen price dropping below 25 yuan/kg, aiming for around 15 yuan/kg in some advantageous regions; the national fuel cell vehicle fleet will double compared to 2025, reaching 100,000 units. Through scaled application, breakthroughs in hydrogen energy technology, processes, and equipment will be driven, including upgrades to fuel cells, electrolyzers, storage and transportation devices, and materials, making hydrogen a new economic growth point and supporting a comprehensive green transformation of the economy and society.

Comment: The hydrogen energy pilot policies focus on goal quantification, scenario expansion, financial empowerment, and pilot first-mover strategies. They aim to address core bottlenecks in large-scale hydrogen industry development, playing a crucial role in energy structure transformation and achieving “dual carbon” goals. As pilots advance, hydrogen will gradually shift from a “future energy” concept to a practical energy source, playing a central role in industrial decarbonization, green transportation, and energy system optimization, providing strong support for green economic and social development and helping China seize a competitive edge in the global hydrogen industry. Concept stocks include Hopu Shares, Shudao Equipment, and Blue Ocean Huate.

3. Guangdong Development and Reform Commission recently issued the “Guangdong Province Support for Artificial Intelligence OPC Innovation Development Action Plan (2026–2028).” The plan emphasizes strengthening intelligent computing power supply, building a green collaborative computing network, and establishing a national hub node in the Guangdong-Hong Kong-Macao Greater Bay Area to facilitate cross-regional flexible scheduling of AI OPC resources. Provincial and municipal cooperation will improve the “computing power voucher” system, reducing actual costs for AI OPC enterprises. An intelligent computing power public service platform will be built to access resources such as racks, computing power, and networks in real-time, optimizing supply-demand matching and transaction processes to support efficient access to computing resources.

Comment: Computing power is the core production factor for AI OPC development and a key bottleneck limiting industry scale and inclusiveness. The coordinated improvement of the “computing power voucher” system, drawing on successful regional experiences, and fiscal support will directly lower the actual costs for AI OPC companies, especially benefiting small and micro innovative entities. This approach will stimulate market vitality, enabling more enterprises to invest in R&D and product innovation, solidifying the industry ecosystem. Concept stocks include Oriental Information, Capital Online, and Wangsu Technology.

(3) Risk Warnings

Starry Group: The company announced that shareholder Lin Zhi Licreat, holding 6.29%, plans to reduce holdings by no more than 1,211,400 shares due to personal arrangements.

Xidian New Energy: The shareholder Changjiang Chendao, holding 1.54%, plans to reduce holdings by no more than 2,457,900 shares through centralized bidding or block trades, representing no more than 1.54% of the total share capital.

Zhaoyan New Drug: The company announced that shareholders Gu Xiaolei and their concerted parties plan to reduce a total of 30,742,500 shares via Shanghai Stock Exchange, accounting for 4.1% of the current total share capital.

Zhejiang Medicine: The company announced that Guotou Gaoke, holding 15.61%, plans to reduce no more than 9,616,400 shares (about 1% of total shares) through centralized bidding due to operational needs.

Huiyu Pharmaceuticals: The company announced that shareholder Wang Xiaopeng, holding 3.94%, plans to reduce holdings by no more than 12,708,000 shares via centralized bidding and block trades due to personal capital needs, representing no more than 3% of total shares.

Laimu Shares: The company announced that controlling shareholder and actual controller Fang Peijiao and their concerted parties hold 20.82% of shares. Fang Peijiao plans to reduce no more than 12,804,300 shares, about 3% of total shares, representing 20.32% of his holdings.

Youfa Group: The company announced that director Zhang Degang, holding 0.83%, plans to reduce no more than 3,062,500 shares via centralized bidding or block trades, accounting for 0.21% of total shares and 25% of his holdings, with the price to be market-determined.

Electronics Institute: The company announced that controlling shareholder and actual controller Hu Chun, holding 33.27%, plans to reduce no more than 7,490,900 shares via centralized bidding within three months after April 9, 2026.

Southern Power Grid Energy: The company announced that shareholder Green Energy Mixed Ownership Reform Equity Investment Fund (Guangzhou) Partnership (Limited Partnership), holding 16.42%, plans to reduce no more than 75,757,600 shares (about 2% of total shares) via centralized bidding and block trades within three months after the disclosure.

Xiangyou Technology: The company received a notice of case filing from the CSRC. Due to suspected information disclosure violations, the CSRC has decided to initiate proceedings. The company’s operations remain normal, and it will cooperate fully with investigations and comply with disclosure obligations.

Weide Information: The company announced that shareholders Wei Xiujun and Guangzhou Weiteng Investment Partnership (Limited Partnership) plan to transfer 4,163,500 shares (about 4.97% of total shares) via inquiry pricing, with Wei Xiujun transferring 3,350,900 shares (4%) and Weiteng Investment transferring 812,600 shares (0.97%).

Saiwei Microelectronics: The company announced that founder and vice president Zhao Jianhua, holding 1.29%, plans to reduce no more than 147,300 shares within three months after 15 trading days, donating all proceeds to Tsinghua University Education Foundation. CEO Jiang Yanbo, holding 0.28%, plans to reduce no more than 30,600 shares; and vice president Ge Weiguo, holding 1.56%, plans to reduce no more than 215,200 shares. Total planned reduction is no more than 393,100 shares.

(Source: Daily Economic News)