I. Industry Policies

CPC Central Committee and State Council roll out 19 measures to develop new quality productive forces

On October 9, the CPC Central Committee and the State Council issued the Opinions on Developing New Quality Productive Forces. The document put forward 19 key measures covering sci-tech innovation, industrial innovation, development model innovation, institutional mechanism reform and talent development. It calls for accelerated breakthroughs in core key technologies, high-quality development of key industrial chains in manufacturing, deeper integration of artificial intelligence and the real economy, and more long-term capital support for hard technologies.

Source: National Data Administration

Leading indicators released by NDRC & State Information Center show sustained economic recovery

On October 10, the National Information Center under the National Development and Reform Commission (NDRC) released a set of leading economic indicators, confirming that China’s economic rebound is steadily consolidating.

In Q3, total consumption payment value rose 2.6% year-on-year, up 0.7 percentage points from Q2. In September, the winning bid amount for new infrastructure projects including computing power and data centers jumped 50.4% YoY, while capital investment in cutting-edge sectors such as AI and humanoid robots more than doubled year-on-year.

Source: NDRC

PBOC conducts RMB 1.2 trillion outright reverse repo operation

On October 8, the People’s Bank of China (PBOC) launched a 3-month outright reverse repo worth RMB 1.2 trillion, plus a 7-day reverse repo of RMB 606 billion. The open market recorded a net fund withdrawal of RMB 408.5 billion on the day. The large-scale injection of medium-term liquidity helps financial institutions meet capital needs after the quarter-end and keeps banking liquidity reasonably ample.

Source: Xinhua Finance

UNCTAD forecasts global economic growth at 2.6% in 2026

On October 9, the United Nations Conference on Trade and Development (UNCTAD) released the *Trade and Development Report 2026*. It projected global GDP growth of 2.6% in 2026, lower than the 2.9% recorded last year; global trade volume is expected to rise roughly 4% at constant prices. The report noted that gains from AI-related trade are highly concentrated, and economies need to expand technological dividends via industrial policies and digital infrastructure investment.

Source: UNCTAD

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II. Market Dynamics

Sales of communication equipment including mobile phones surge 119.8% YoY during National Day holiday

On October 8, the State Taxation Administration released VAT invoice data. During the holiday, sales of mobile phones, smart bands and other communication devices jumped 119.8% year-on-year, while sales of home appliances and audio-visual equipment grew by 40.1%. Trade-in policies and concentrated new product launches kept consumer demand for smart terminals robust.

Source: State Taxation Administration

Global PC shipments fall 21.2% YoY in Q3

On October 9, Omdia released statistics: global PC shipments reached 58.1 million units in Q3 2026, down 21.2% year-on-year. Earlier front-loaded demand driven by replacement cycles and tariff expectations has faded. Meanwhile, rising costs of memory chips and other components have put the PC market in a short-term adjustment phase.

Source: Omdia

New energy passenger vehicle wholesale hits 1.666 million units in September

On October 12, the China Passenger Car Association (CPCA) released September market data. Wholesale volume of new energy passenger vehicles reached 1.666 million units, up 11.3% YoY and 10.0% month-on-month. The January–September total wholesale volume stood at 11.448 million units, rising 9.4% YoY. The retail penetration rate of new energy vehicles hit a record monthly high of 67% in September.

Source: CPCA

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III. Corporate News

Zhen Ding Technology plans to raise RMB 9.6 billion to expand computing-power HDI capacity

On October 8, Zhen Ding Technology released its reply to the exchange’s inquiry on its private placement application. The company intends to raise no more than RMB 9.6 billion. Among the projects, the Qingding AI Server & High-Speed Optical Module HDI Project requires total investment of RMB 12.73 billion, adding an annual capacity of 655,600 sq.m. of high-end HDI boards. The products target 800G to 3.2T optical modules and 20–34 layer AI server boards.

Source: Zhen Ding Technology Announcement

Kingboard Electronics forecasts sharp profit growth in the first three quarters

On October 9, Kingboard Electronics issued a performance forecast. It estimated net profit attributable to parent shareholders to reach RMB 2.392–2.569 billion in Jan–Sep 2026, a year-on-year increase of 105.01%–120.18%; Q3 net profit is projected at RMB 912 million–1.089 billion. Surging shipments of high-performance PCBs for high-speed communications, AI infrastructure and optical modules are the core growth driver.

Source: Securities Times

Guanghe Technology’s Thailand plant completes capacity ramp-up and turns profitable

On October 9, Guanghe Technology released its performance forecast. Net profit attributable to parent shareholders for the first three quarters of 2026 is expected to hit RMB 1.45–1.50 billion, up 100.33%–107.23% YoY. During the period, the Thailand factory passed core customer audits, gradually ramped up production and achieved profitability, further lifting overseas delivery capacity.

Source: Wind Information

Benchuan Intelligent speeds up capacity release for high-end PCB projects

On October 8, Benchuan Intelligent published its performance forecast. The company expects net profit attributable to parent shareholders of RMB 96 million–144 million in the first three quarters of 2026, jumping 190.24%–335.36% year-on-year. Capacity at the Lishui Nanjing project is ramping up, while Phase I of Zhuhai Shuohong has entered mass production. The proportion of high-layer PCBs, high-end HDI and embedded component boards continues to rise.

Source: Wind News Agency

Jialichuang fully upgrades lead-free OSP production chemicals

On October 10, Jialichuang disclosed that all lead-free OSP surface treatment production lines have been upgraded to imported chemicals. The new solution has run stably for more than four months, covering hundreds of thousands of OSP orders with a total processing area exceeding 100,000 sq.m., with no batch welding failures reported. It greatly improves reliability for fine-pitch components and complex soldering scenarios.

Sihui Fushi gets share issuance approval, to raise up to RMB 930 million for high-layer & HDI capacity expansion

On October 12, Sihui Fushi announced that it plans to raise a maximum of RMB 930 million for the *New High-Reliability PCB Project with Annual Output of 5.58 Million Sq.m. — Phase I: 600,000 Sq.m. High-Layer & HDI PCB Project*.

The project is located at No. 3 Huiyuan 3rd Road, Longfu Town, Sihui City, with total investment of RMB 1.092 billion, of which RMB 930 million will be funded by the raised capital. Upon full completion, the project will deliver an annual capacity of 600,000 sq.m. of high-layer and HDI PCBs, with projected annual pre-tax revenue (excluding VAT) of RMB 1.092 billion and annual pre-tax profit of RMB 119 million.

Dongshan Precision passes HKEX hearing; IPO proceeds to fund facility upgrades, strategic M&A and debt repayment

On October 11, the Hong Kong Stock Exchange disclosed that Suzhou Dongshan Precision Manufacturing Co., Ltd. has passed the listing hearing. Net proceeds from the IPO will be allocated as follows: construction and upgrade of production facilities and production lines; potential strategic investments and acquisitions to consolidate technological and market leadership in core businesses; partial repayment of outstanding debts; and working capital plus general corporate expenses.

Source: Economic Daily

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Disclaimer

This newsletter is compiled from public media and listed company announcements, for industry reference only, and does not constitute any investment advice.

Shenzhen Juehui Weiye Circuit Co., Ltd. is a one-stop integrated service provider focusing on PCB and PCBA manufacturing. Our core businesses include high-precision multilayer PCB customization, AI computing-power circuit boards, rapid PCB prototyping, PCBA assembly and full-turnkey testing services.

Equipped with high-end precision production equipment, we support ultra-high-density packaging processes. Our products are widely used in AI computing infrastructure, communication equipment, new energy vehicles, smart home appliances, industrial control, medical electronics and high-end consumer electronics. Backed by a mature supply chain and strict quality control system, we deliver high-quality, high-efficiency electronic circuit manufacturing solutions for clients worldwide.