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*Some takeaways to remind of SCIO press conference held on Sept 22:
Pan Gongsheng, governor of PBoC: no short-term policy adjustment, financial reform for the next stage will be discussed after unified arrangement of the central authorities.

Wu Qing, chairman of CSRC: better leverage the role of medium- and long-term funds as a “ballast” and “stabilizer” for the market, strengthen long-term performance evaluations, enhance the convenience of cross-border investment and financing on an ongoing basis.A “dynamic” and
“well-regulated” capital market order will be fostered, innovation will be pursued under premise of risk prevention to promote high-quality development.

Financials

-Sources from several policy banks revealed to Caixin that the scale of the new policy-oriented financial instruments is preliminarily set at 500 billion yuan and will be implemented in coming terms.

Co Focus

-According to an announcement made by DeepSeek on Sept 22, its online model has been upgraded to the current version DeepSeek-V3.1-Terminus, which includes a thinking model and a non-thinking mode.

-Chairman of Trina Solar stated on co’s 2025 interim result meeting that recent product prices across different segments of the photovoltaic industry chain have shown varying degrees of recovery, confidence was held in the trend of module prices returning to reasonable levels.

Sept 22 Block Trade Info

*Discount

-Advanced Micro-Fabrication Equipment (688012 CH) saw 14 block trades worth cny 460.75mn at 236.22yuan per shr, 7.94pct discount from last closing.

-Dawning Info (603019 CH) saw 1 block trade worth cny 135.23mn at 101.49yuan per shr, 13.63pct discount from last closing.

*Flat

-Fuyao Glass (600660 CH) saw 1 block trade worth cny 107.99mn at 71.99yuan per shr, flat from last closing.

-China Merchants Bank (600036 CH) saw 1 block trade worth cny 356.00mn at 40.92yuan per shr, flat from last closing.

-CATL (300750 CH) saw 4 block trades worth cny 335.27mn at 370.05yuan per shr, flat from last closing.

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