【Morning Report】U.S. and Israel attack Iran, Iran strikes back; China's first national standard system for humanoid robots and embodied intelligence released

Macro News

1. On February 28, Israel launched a preemptive strike against Iran, called “Roaring Lion,” to eliminate threats to Israel. An Israeli government official stated that Israel is preparing for a four-day intensive and powerful joint attack in its first phase. The U.S. military also expects to conduct multi-day operations against Iran. Iran has stated it will retaliate. Senior Iranian officials told the media that Iran was “not surprised” by the airstrikes by the U.S. and Israel. All facilities and interests of the U.S. and Israel in the Middle East have become “legitimate targets” for Iran, and Iran’s retaliation will have “no red lines.” The U.S. and Israel will bear “huge and long-term consequences” for hostile actions.

2. According to real-time data from the international oil tanker traffic monitoring system, the speeds of oil tankers in the waters surrounding the Strait of Hormuz have generally dropped to zero, indicating that shipping in the area has come to a halt. Meanwhile, several European governments have issued urgent orders to their flagged oil tankers en route, strictly prohibiting passage through the Strait of Hormuz to avoid security risks from the current escalation.

3. According to the Ministry of Commerce, under Article 38 of the Anti-Dumping Regulations, the Ministry has proposed to the Customs Tariff Commission of the State Council to impose anti-dumping duties. The commission has decided that, starting March 1, 2026, anti-dumping duties will be levied on rapeseed imports originating from Canada.

4. The National Bureau of Statistics released the “2025 National Economic and Social Development Statistical Bulletin.” In 2025, China’s per capita GDP reached 99,665 yuan, a 5.1% increase from the previous year. Converted at the annual average exchange rate, this amounts to $13,953, exceeding $13,000 for three consecutive years. The steady increase in per capita GDP is attributed to technological innovation, the accelerated construction of a modern industrial system, and the vigorous development of new productive forces.

5. The State Administration for Market Regulation, Ministry of Finance, Ministry of Agriculture and Rural Affairs, and People’s Bank of China issued a notice on improving small microcredit support. They will improve credit management processes. Banks should conduct rating and credit granting in accordance with laws and regulations based on the production and operation characteristics, cycles, and repayment capacity of the supported populations. They should reasonably determine loan amounts and terms. Banks are encouraged to use financial technology to develop credit models based on production and operation data of supported populations, while safeguarding user privacy and data security, to improve approval efficiency.

Industry News

1. The Annual Conference on Standardization of Humanoid Robots and Embodied Intelligence (HEIS) was held in Beijing. As the first annual meeting since the establishment of the Standardization Technical Committee for Humanoid Robots and Embodied Intelligence by the Ministry of Industry and Information Technology in December 2025, government, enterprise, research, and investment representatives gathered to discuss industry standardization work. The “2026 Edition” of the Standard System for Humanoid Robots and Embodied Intelligence was officially released.

2. The Price Monitoring Center of the National Development and Reform Commission stated that since September 2025, due to explosive demand growth and a “cliff-like” shortage of capacity, the global memory market gap has widened, and the prices of memory chips have continued to rise. Over the past month, the increase has accelerated. It is recommended to pay attention to the impact of memory chip prices on downstream markets.

3. Domestic gold jewelry prices yesterday showed that most gold shops’ prices for gold jewelry exceeded 1,600 yuan per gram, an increase of about 32 yuan per gram from the previous day, with the highest reaching 1,608 yuan per gram.

4. Recently, the Institute of Bioenergy and Process Technology, Chinese Academy of Sciences, in collaboration with the National Key Laboratory of Solar Photovoltaic Conversion and Utilization at Hong Kong University of Science and Technology, achieved a new breakthrough in perovskite solar cell interface engineering. They pioneered a “solvent-based crystal pre-seed” strategy, bringing new hope for high-efficiency, scalable production of perovskite photovoltaic modules. The achievement was published in the international journal Nature - Synthesis.

5. Starting March 1, 2026, individual consumers purchasing new cars in Pudong New Area will be eligible for a maximum of 5,000 yuan in district-level car consumption subsidies. The subsidy covers 15,000 units on a first-come, first-served basis, while supplies last.

Company News

1. Wuliangye Yibin Co., Ltd. Party Secretary and Chairman Zeng Congqin is under disciplinary review and supervisory investigation for suspected serious violations of discipline and law.

2. Weichai Power stated that the company is conducting research and development for solid-state battery industrialization and currently has no aerospace engine business.

3. China Resources (Group) Co., Ltd. Party Committee Member and Vice President Han Song is suspected of serious violations of discipline and law, has voluntarily surrendered, and is currently under disciplinary review and supervisory investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission.

4. Reports indicate that Elon Musk’s SpaceX is considering submitting a confidential IPO application to the U.S. in March, potentially seeking a valuation exceeding $1.75 trillion.

5. According to JD.com’s “Blackboard,” JD’s food delivery business has been online for nearly a year, with a market share exceeding 15%. As Qixian Xiaochu accelerates expansion, JD’s market share is expected to further increase, with the company aiming for a 30% market share by 2026.

6. Jinko Solar has notified customers that starting March 2026, products such as the 650W+ Feihu 3 and other scenario-specific special process products will implement a price increase plan, with an average rise of about 30-40% compared to previous lows. The maximum increase in component prices has reached 50%.

7. Tenda Technology announced a price adjustment on February 28, stating that due to current raw material and market conditions, all products will see a price increase, effective immediately in the Tenda Yougou online system.

8. The power semiconductor industry is experiencing a new wave of price increases. Recently, domestic power semiconductor company XinJieneng announced a price adjustment, with MOSFETs (Metal-Oxide-Semiconductor Field-Effect Transistors) increasing by at least 10%, effective March 1.

9. Microsoft is considering launching an AI software suite for Microsoft 365, which may involve a major overhaul of the software package. The company might charge users up to $99 per month.

Global Markets

1. NVIDIA plans to launch new chips to accelerate AI processing. NVIDIA is designing a new system for “inference” computing, enabling AI models to respond to query requests.

2. OpenAI founder Sam Altman stated that, in agreement with the U.S. Department of Defense, OpenAI’s models will be deployed on the U.S. Department of Defense’s classified networks.