February 3 Morning News Summary

【Morning News Highlights】 [Taogu Ba]

1. Guotou Silver LOF announced on the 2nd that it will reasonably revalue the fund assets based on the price fluctuations of international silver futures markets; after updating the net value on the evening of the 2nd, Guotou UBS Silver LOF showed a single-day net value decline of 31.5%, setting a record for the largest single-day drop in public fund history.
2. Tesla’s official Weibo announced on the 2nd that the third-generation Tesla humanoid robot will be unveiled soon, with an expected annual production of one million units. An insider from Tesla revealed that the Model S/X production line at the Fremont factory will be converted into a humanoid robot production line, with mass production expected to start by the end of 2026, and a final planned annual capacity of 1 million units.
3. Yesterday, there were further rumors about changes in IPO policies, mentioning that “the CSRC issued three announcements late at night on February 1, increasing the on-site IPO inspection ratio from 5% to 20%, extending the lock-up period for sudden shareholding to 36 months, effective April 7, and additionally, investment banking projects are being temporarily suspended in batches to cool down the primary market.” A reporter from Cailian Press learned from multiple investment banks that this message is a patchwork of old news.
4. The Central Committee of the Communist Party of China and the State Council issued a reply on the “Modern Capital Metropolitan Area Spatial Coordination Plan (2023–2035).” The plan proposes to build a world-class metropolitan area centered on the capital, and to demonstrate Chinese-style modernization; to build the Hebei Xiong’an New Area to high standards and high quality, and to develop the Beijing sub-center into a new growth pole for the capital.
5. Shanghai has substantively started the work of acquiring second-hand housing for affordable rental housing projects, with Pudong New Area, Jing’an District, and Xuhui District as the first pilot areas.
6. The State Administration for Market Regulation and nine other departments jointly issued the “Guidelines for the Construction of the Low-Altitude Economy Standard System (2025 Edition).” It proposes that by 2027, the low-altitude economy standard system will be basically established to meet the needs of safe and healthy development of the low-altitude economy.
7. According to reports, as gold and silver prices continue to plummet sharply, people’s enthusiasm for investing in physical gold has waned, with some investors choosing to wait and see. Previously, bank gold bars that were sold out daily have now appeared in stock, with some banks’ physical gold bars even showing as “sufficient inventory.”
8. The disclosure of A-share 2025 annual report forecasts has basically come to an end. As of January 31, the overall market disclosure rate reached 54.2%, with nearly 37% of stocks delivering a “positive surprise” performance.
9. The first annual report of the Shanghai stock market has been released: Core导科技’s net profit for 2025 was 106 million yuan, a decrease of 4.91% year-on-year.
10. Litong Electronics announced a two-day limit-up, stating that the research and development of liquid cooling products is still in the preliminary exploration stage, with no Nebula computing power scheduling platform or Malaysia Putrajaya AI data center project.
11. Changfei Optical Fiber announced that the global optical fiber and cable industry market environment is normal, and the proportion of new products related to data centers in demand is relatively small. Far East Shares announced that in January, the subsidiary won or signed contracts exceeding 100 million yuan, totaling 3.075 billion yuan.
12. Aorui De announced that its controlling subsidiary plans to invest about 145 million yuan to purchase computing power equipment, mainly for servers and related hardware.
13. Rundu Co., Ltd. announced that currently, one type of innovative drug (chemical drug), Hydrochloride Methoxyphenamine Injection, has uncertainties regarding approval for market listing.

【Major Reminders】

① Today, one new stock will be listed: Shimao Co., Ltd. (001220) on the Shenzhen Main Board.
② The 2026 Brain-Computer Interface Developer Conference will be held from February 3 to 4.
③ The China-US Think Tank Forum will be held in Beijing on February 3.
④ The Fifth Session of the 14th People’s Congress of Sichuan Province will be held in Chengdu on February 3, with an expected duration of 5 days.
⑤ The Fifth Session of the 14th People’s Congress of Jiangsu Province will be held in Nanjing from February 3 to 6.
⑥ AMD will release its fiscal year 2025 Q4 and full-year financial results after the US stock market closes on February 3 (early morning Beijing time).
⑦ A new round of domestic refined oil price adjustments will begin.
⑧ Today, 402 billion yuan of 7-day reverse repurchase agreements will mature.
⑨ Data on US December JOLTS job openings will be released today.

【Overnight Global News】

1. The US will reduce India’s “parity” tariff rate from 25% to 18%, effective immediately.
2. SpaceX, under Elon Musk, confirmed in a company memo that it will merge with xAI; the memo shows that SpaceX and xAI are valued at $1.25 trillion.
3. Two sources expect US Special Envoy Wittekov and Iranian Foreign Minister Alaraji to meet in Istanbul, Turkey, on February 6 (this Friday) to discuss “possible nuclear agreements.”
4. US President Trump stated that he is working with House Speaker Johnson to push for the passage of the funding agreement, and will sign the government funding bill immediately to make it effective.
5. Due to the government shutdown, the US Bureau of Labor Statistics will delay the release of the January employment report.
6. Oracle plans to raise $25 billion through issuing bonds related to artificial intelligence financing, marking the largest financing deal in the US business sector this year so far.
7. The US Treasury Department lowered its first-quarter borrowing estimate from $578 billion to $574 billion, with an expected cash balance of $850 billion by the end of March.
8. With two motions not passing, the French Parliament officially approved the 2026 national fiscal budget.
9. Ukrainian President Zelensky stated on February 2 that Ukraine has designated the Iranian Islamic Revolutionary Guard Corps as a “terrorist organization.”
10. US natural gas futures once fell more than 27%, but ultimately closed down 25%, at $3.263 per million British thermal units.
11. European stock markets hit record highs for the first time since mid-January, with major indices rising over 1%, mining stocks rebounded, and tourism, leisure, and banking stocks also led gains.
12. The Federal Reserve’s overnight reverse repurchase agreement (RRP) scale was $10.415 billion on Monday.
13. Data shows that the 30-day volatility of gold has risen above 44%, the highest since the 2008 financial crisis, surpassing Bitcoin’s approximately 39% volatility.
14. The three major US stock indices all closed higher: Dow up 1.05%, S&P 500 up 0.54%, Nasdaq up 0.56%, with Sandisk surging over 15% to a new closing high. The Nasdaq China Golden Dragon Index fell 0.65%, with most popular Chinese concept stocks declining.
15. WTI crude oil futures fell 4.71%, to $62.14 per barrel. Brent crude futures fell 4.36%, to $66.3 per barrel.
16. COMEX gold futures fell 1.35%, to $4,680.9 per ounce; COMEX silver futures rose 0.93%, to $79.265 per ounce.

This information, including news and data, is sourced from publicly available online sources and is for reference only; it does not constitute investment advice.