April 7th: Summary of the front-page headlines and key financial media highlights from the four major domestic securities newspapers and important financial outlets

April 7 (Tuesday). Today’s newspaper front-page headline highlights are as follows:

China Securities Journal

A must-read for investors after the holidays! Eight major institutions assess the outlook for A-shares—these sectors are favored

On the 7th, A-shares will see their first trading day after the Qingming holiday. Looking ahead to the market’s direction, institutions believe that as economic data from March is about to be released and the earnings report season approaches, the market’s focus in April will gradually shift to substantive validation of the strength of economic recovery and improvements in corporate earnings. High-position sectors lacking earnings support may face valuation pullbacks, while companies with superior performance are more likely to deliver excess returns.

Exclusive! Foxconn is testing production of Apple’s foldable-screen iPhone—overview of concept stocks

On April 6, China Securities Journal reporters learned exclusively from industry-chain insiders that Foxconn has begun testing production of Apple’s foldable-screen iPhone. Reporters previously learned from supply-chain companies that Apple’s shipment target guidance provided to suppliers is that the first foldable-screen phone will be launched in the second half of 2026—a large-fold foldable-screen iPhone.

Ge Weidong’s latest holdings revealed—holdings by related parties and affiliated institutions are also coming into view

A-shares listed companies’ 2025 annual reports have entered a dense disclosure period, and many well-known investors’ holding maps are gradually becoming clearer. The data show that as of April 6, well-known investor Ge Weidong and his related parties and affiliated institutions have appeared on the shareholder rosters of multiple A-share listed companies. Among them, Ge Weidong directly holds heavily in 4 individual stocks, and his shareholding numbers at the end of 2025 remain unchanged compared with the end of the third quarter of 2025.

Daring through the Strait of Hormuz! This “battlefield analyst” frontline survey report went viral

There are war reporters in the news world, but in the investing world there are “battlefield analysts.” On April 6, Citrini Research, an independent thematic investment research institution headquartered in New York, released a research report—“Citrini Expedition Team No. 3 Analyst: Strait of Hormuz Survey Report”—which quickly spread across the financial media. The reason: when international oil prices and global stock markets were violently shaken by the Strait of Hormuz crisis triggered by the Middle East conflict, Citrini’s “Analyst No. 3” went straight to the Strait of Hormuz to conduct a grassroots survey.

Shanghai Securities News

Late April may bring a key turning point—market further focuses on earnings certainty

Before the Qingming holiday, the A-share market showed a mixed, volatile and differentiated trend under the interplay of risk-avoidance sentiment before the holiday and disruptions from the Middle East geopolitical conflict. In response to the frequent back-and-forth of the Middle East geopolitical conflict, a weekly institutional strategy outlook report judged that late April could become a key time window for marginal improvement in both domestic and international conditions. At the same time, as market sensitivity to marginal changes in the Middle East geopolitical conflict gradually weakens, the A-share market has most likely already found its bottom in the short term. Looking ahead, with the dense disclosure of annual reports and Q1 reports by listed companies, active capital is expected to gradually shift toward pricing based on fundamentals, uncovering opportunities with clear business-cycle and earnings certainty amid external uncertainty.

Suspended trading on Tuesday! Haitai Technology plans to acquire a New Third Board company

On April 6, Haitai Technology (301022) announced that the company plans to acquire control of Xu Yu Shares, a company listed on the New Third Board, by issuing shares and paying cash, and simultaneously raise supporting funds. The company’s stock will be suspended from trading starting April 7, 2026, with an expected suspension period of no more than 10 trading days. At present, this transaction is still in the planning stage. Haitai Technology has signed a “Memorandum of Equity Cooperation” with Xu Yu Shares’ actual controller Yang Bao and other major counterparties, but it has not yet signed a formal transaction agreement. The scope of the final transaction counterparties, the transaction consideration, and the specific plan await further clarification in a subsequent disclosure of the restructuring proposal or restructuring report.

Inflated revenue by RMB 182 million—Hengxin Oriental to “wear a cap” starting April 8

On the evening of April 3, Hengxin Oriental announced that it received a “Notice of Prior Written Information of Administrative Penalty” issued by the Beijing CSRC (China Securities Regulatory Commission) bureau. The company’s 2022 annual report had inflated revenue by RMB 182 million, accounting for 37.12% of the revenue disclosed for that period. The company’s stock trading will be subject to other risk warnings, but it will not involve any scenario of major illegal mandatory delisting. The company’s stock will be suspended on April 7, resume trading from April 8 when the market opens, and the stock abbreviation will change from “Hengxin Oriental” to “ST Hengxin.”

Two A-share companies disclose changes in control: Yilida and Zhuhai Zhongfu to change hands

On the evening of April 3, two A-share listed companies disclosed changes in control. Yilida (002686) announced that its controlling shareholder, Zhejiang Merchants Assets, respectively signed a “Share Transfer Agreement” with Run Tong Holdings and Jiaxing Guotou.

Securities Times

Six departments release a “16-article” plan to promote high-quality e-commerce—better serve the real economy

On April 6, the Ministry of Commerce and other six departments issued the “Guiding Opinions on Better Serving the Real Economy and Promoting High-Quality Development of E-Commerce,” proposing 16 measures from aspects including consolidating and strengthening the foundation of the real economy, helping achieve a higher level of dynamic balance between supply and demand, and jointly building and sharing China’s large e-commerce market, to promote the development of a high-quality e-commerce framework and system.

Securities Times Observation | Commercial spaceflight “learning through trial and error” is indispensable—worthy of protecting room for growth

Recently, after Tianbing Technology’s Tianlong-3 privately developed commercial launch vehicle successfully ignited and lifted off, an anomaly occurred and the flight test failed to fully achieve the planned mission objectives. This setback brings the public the reality of commercial spaceflight’s high risk and high difficulty. In the current time when the industry is entering an intensive technical breakthrough phase, on one hand, timely lessons learned and reflection are essential; on the other hand, the public should also have greater tolerance for the necessary “trial and error,” leaving more room for growth for high-quality development of China’s commercial spaceflight industry.

Individual income tax reform moves toward a “comprehensive” approach—balancing tax burdens across different items

Individual income tax (hereinafter referred to as “IIT”) is the tax type most closely related to ordinary people. Optimizing the system not only concerns increasing the proportion of direct taxes, but also serves as an important tool to adjust the income distribution structure. The “14th Five-Year Plan and the 15th Five-Year Plan Outline” clarifies that “expanding the scope of comprehensive collection,” and “improving tax policies for business income, capital income, and property income” are listed as directions for IIT reform.

“Overall conditions are better than last year.” Qingming holiday demand in Shenzhen’s property market keeps releasing

As “Silver April” in the traditional peak sales season for the real estate market, it has long been viewed by industry insiders as a “critical period” for observing market direction. Especially just after March ended, real estate markets in first-tier cities delivered solid “report cards,” and the market performance during the Qingming mini-holiday drew particular attention. During the Qingming holiday, when reporters conducted on-the-ground investigations in the Shenzhen market, multiple new-home sales managers and second-hand home brokerage managers said that this year’s Qingming holiday real estate market conditions are slightly better than last year, and accumulated demand continues to be released. At the same time, second-hand home communities near border ports have become the focus of property seeking for Hong Kong buyers.

Securities Daily

Listed companies are stepping up investment and布局 to the surgical robot sector

Recently, in China’s first robot-assisted continuous catheter ablation surgery for persistent atrial fibrillation under robotic assistance, the country’s first independently developed robotic system for cardiac electrophysiology interventional surgery completed its first case in Chongqing at Renmin Hospital of the Liangjiang New Area, Chongqing (Liangjiang Hospital affiliated with Chongqing Medical University). Guo Tao, deputy director of the China Electronic Commerce Experts Service Center, said in an interview with reporters from Securities Daily that China’s independently developed robot can perform this type of surgery, marking that China’s cardiac electrophysiology interventional field is moving toward a more precise and intelligent era. It will help enhance China’s competitiveness in the global medical technology sector.

Why are A-share technology sectors receiving even more attention?

From the macro level, domestic demand resilience; from the industrial level, the high-demand outlook for AI computing power and power equipment; and from the marginal shift as global capital reconsiders the value of allocating to China’s assets—China’s technology assets are becoming a distinctive landscape. Recently, multiple investment institutions said that the main contradiction in market pricing is shifting from “valuation expansion” to “earnings-driven and certainty-driven.” With solid fundamental support, A-share technology sectors are expected to receive more attention during the earnings period. For example, in its April outlook, Swiss Pictet Asset Management mentioned: “Chinese stocks are an exception. Under a strong reserve of bulk commodities, sufficient supply of alternative energy, and policy support, we still maintain our bullish stance.”

Multi-pronged efforts to help “one-person companies” grow from ride-the-wind execution to rooted growth

At present, the “one-person company” (OPC) featuring “single-person decision-making + AI full-chain enablement + lightweight operations” is rapidly becoming the focus of China’s domestic entrepreneurship market. Compared with traditional micro and small businesses, OPCs have several distinct features: first, they break the rigid requirements of traditional entrepreneurship for teams, fixed premises, and large-scale startup capital; second, AI tools can replace repetitive labor throughout the entire workflow; third, market responsiveness is highly flexible.

Six departments including the Ministry of Commerce: support e-commerce companies meeting relevant conditions to raise funds through listings domestically and abroad

On April 6, the Ministry of Commerce and other six departments issued the “Guiding Opinions on Better Serving the Real Economy and Promoting High-Quality Development of E-Commerce” (hereinafter the “Guiding Opinions”). The “Guiding Opinions” overall coordinates and promotes, respectively, development and regulation, efficiency and fairness, and vitality and order, and proposes 5 areas and 16 measures to build a framework system for high-quality development of e-commerce.

21st Century Business Herald

International oil prices keep “burning.” Major oil producers announce daily production increases of 206k barrels

According to Xinhua News Agency, on the 5th, the Organization of the Petroleum Exporting Countries (OPEC) issued a statement saying that 8 major “OPEC+” oil producers (Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman) decided to increase crude oil production by 206k barrels per day in May. With this, the eight countries have announced production increases for two consecutive months.

From “going out” to “going up”: breaking through and advancing China’s advanced manufacturing high-quality overseas expansion

At present, the global manufacturing competition logic has undergone three major core shifts, setting a new track for China’s advanced manufacturing to go overseas. Green compliance has become a hard threshold, and the “standards gap” created by mutual recognition of carbon data has become an important obstacle for Chinese companies’ overseas expansion. Demand in emerging markets has upgraded from “single equipment delivery” to an “end-to-end turnkey project + long-term maintenance” comprehensive solution. Under extreme operating conditions, equipment reliability has become the top consideration in international customers’ procurement decisions, and equipment availability rates and mean time between failures have become core screening indicators.

First Financial Daily

Will multiple central banks continue to sell gold? The key variable is the Middle East situation

Some central banks have started “tactical” gold selling. Data released by the Central Bank of Turkey on April 2 show that to respond to energy shortages caused by the Middle East conflict and pressure from currency depreciation, they urgently sold nearly 120 tons of gold in the nearly two weeks ending March 28. The Central Bank of Poland also proposed a plan in early March to sell part of its gold reserves to raise about $13 billion in defense expenditures. In addition, according to statistics from the World Gold Council, the Russian central bank has cumulatively sold 15 tons of gold in the first two months of this year.

First Finance editorial: Keeping a close watch on three key areas to strengthen ethical governance of AI technology

Recently, the Ministry of Industry and Information Technology and ten other departments jointly issued the “Administrative Measures for Ethical Review and Services for Artificial Intelligence Technology (Trial)” (hereinafter the “Ethical Measures”). This is a major institutional arrangement for China to coordinate the development and security of artificial intelligence, innovation and responsibility, and efficiency and fairness. It provides clear technology ethics guidelines so that AI technology can be applied for good and the intelligent industry can develop with high quality.

Economic Information Daily

Stabilize market expectations—new rules for short-term trading take effect today

To further standardize short-term trading behavior in the securities market, clarify认定 standards and draw clear regulatory boundaries, the CSRC previously issued the “Several Provisions on the Regulation of Short-Term Trading” (hereinafter the “Provisions”), which take effect starting April 7, 2026. Industry institutions point out that the implementation of the “Provisions” helps stabilize market expectations and provides convenience for various professional institutional investors to participate in the market.

The People’s Bank of China: conducts RMB 800 billion buyout-based reverse repo operations

China’s People’s Bank of China (hereinafter the “PBOC”) recently issued an announcement that on April 7, it conducted RMB 800 billion buyout-based reverse repo operations using a fixed quantity, interest-rate bidding, and a multiple-price bid method. The term is 3 months (89 days), with the maturity date on July 5, 2026. The data show that in April, RMB 206k of 3-month buyout-based reverse repo operations mature, meaning that for that month, the 3-month buyout-based reverse repo operations will be rolled over with a reduced amount. The reduced scale is RMB 206k. In addition, since April began, the PBOC has also repeatedly conducted “very low amount” reverse repo operations on April 1, April 2, and April 3.

(Source: Eastmoney Research Center)