I. Industry

• Industrial output maintains growth from January to July; electronics manufacturing registers rapid expansion

On August 17, the National Bureau of Statistics released key economic data for Jan‑July. The value‑added of industrial enterprises above designated size rose 5.3% year‑on‑year. Among them, equipment manufacturing and high‑tech manufacturing increased by 9.7% and 13.8% respectively. In July alone, industrial value‑added of above‑designated‑size enterprises grew 4.5% year‑on‑year, while the computer, communications and other electronic equipment manufacturing sector surged 19.1%. Industrial production kept growing overall, with new growth drivers continuing to expand. (National Bureau of Statistics)

• PBOC launches RMB 1 trillion outright reverse repo to maintain ample liquidity

On August 13, the People’s Bank of China announced that to keep ample liquidity in the banking system, it would conduct an outright reverse repo operation of RMB 1 trillion on August 14, with a maturity of 6 months (185 days), adopting fixed‑volume, interest‑rate bidding with multiple‑price award mechanism. Since maturing instruments of the same tenure amounted to RMB 1 trillion in the month, this operation is a full roll‑over, sending a policy signal to the market for stable medium‑ and long‑term liquidity. (People’s Bank of China)

• Fed minutes deliver hawkish signals; further rate hikes possible if inflation fails to cool

On August 19, the Federal Reserve released the minutes of its July 28‑29 rate‑setting meeting. Previously, policymakers voted 9‑3 to keep the federal funds rate target range at 3.50%‑3.75%. The minutes noted multiple officials believed additional rate hikes may be needed in the coming months should inflation fail to keep falling. U.S. monetary policy continues to balance inflation risks against softening employment. (U.S. Federal Reserve)

II. Market

• China smart‑glasses sales jump 85.5% YoY in H1

On August 14, Luo Tu Technology released China smart‑glasses market data for H1 2026. All‑channel sales reached 909,000 units, up 85.5% year‑on‑year; sales revenue hit RMB 1.88 billion, rising 98.7% year‑on‑year. Market segments diverged: AR glasses and camera‑equipped glasses accounted for 44.9% and 34.4% of unit sales respectively, while AI audio‑only glasses fell to 20.7%. The market is rapidly shifting from pure audio functions toward display and imaging interaction. (Luo Tu Technology)

• Retail sales of new‑energy passenger vehicles drop 17% YoY in early August

On August 13, the China Passenger Car Association (CPCA) reported retail sales of 195,000 new‑energy passenger vehicles across August 1‑9, down 17% year‑on‑year and 4% versus the same period of the prior month. Cumulative retail volume for the year stood at 5.864 million units, a 13% year‑on‑year decline. Meanwhile, OEM wholesale volume reached 195,000 units, down 5% YoY yet up 5% month‑on‑month. Cumulative wholesale shipments totalled 8.443 million units, up 7% year‑on‑year. Divergence between retail and wholesale performance persists. (CPCA)

• 2026 World Robot Conference opens; exhibiting enterprises rise 36% YoY

On August 19, the 2026 World Robot Conference kicked off in Yizhuang, Beijing. The expo featured over 300 exhibitors, a 36% year‑on‑year increase; more than 2,000 exhibits (+27%), over 150 debut new products (+21%), alongside more than 60 concurrent events. For the first time, a robot consumer street was set up, showcasing industrial, humanoid, service and special‑purpose robots. Industry focus is shifting from technology demonstrations toward large‑scale commercial deployment and supply‑demand matching. (World Robot Conference)

III. Enterprises

• Jinlu Electronics’ multi‑layer board capacity‑expansion project in Anlu goes into operation

On August 14, Jinlu Electronics disclosed in its semi‑annual report that its multi‑layer‑board expansion project at the Anlu (Hubei) manufacturing base has been commissioned, adding monthly multi‑layer‑board capacity of 25,000 square meters. The first production line at its Qingyuan PCB expansion project, tailored for AI and computing‑power products, is expected to come online in Q3. Overall capacity utilization across its three bases reached roughly 89% in H1 and nearly 100% in Q2. (Jinlu Electronics Announcement)

• Honghe Technology terminates electronic‑glass‑fabric expansion project in Cangxi, Sichuan

On August 13, Honghe Technology announced termination of its Sichuan Cangxi project for an annual output of 72 million meters of high‑performance electronic‑grade fiberglass fabric, and returned approximately 48.46 mu of industrial land. Original planned total investment stood at around RMB 600 million. The company stated the decision was driven by strategic layout, industrial supporting conditions, synergy effects and comprehensive cost considerations. Proceeds from land transfer will improve cash flow and will not materially impair business performance. (Honghe Technology Announcement)

• Shengyi Technology’s Phase‑II CCL project in Jiangsu fully commissioned

On August 14, Shengyi Technology published its semi‑annual report. Phase‑II of Jiangxi Shengyi was phased‑in starting June 2025 and fully put into production in H1 2026, adding annual capacity of 18 million square meters of copper‑clad laminates and 34 million meters of commodity prepreg. Its Thailand‑based CCL and prepreg manufacturing base is scheduled for trial production in H2. The company continues advancing its global capacity layout for high‑end copper‑clad laminates. (Shengyi Technology Announcement)

• Shengyi Electronics ramps‑up high‑multi‑layer computing‑power board capacity across three sites

On August 15, Shengyi Electronics released its semi‑annual report. Phase‑I of the Dongguan smart‑computing‑center project for high‑multi‑layer high‑density‑interconnect PCBs has commenced production and is steadily ramping output, while Phase‑II is being gradually brought online. The first‑stage of the Ji’an smart‑manufacturing high‑multi‑layer computing‑power PCB project started production by period‑end. Phase‑I of the Thailand base is in equipment installation, commissioning and pre‑trial‑production preparation. (Shengyi Electronics Announcement)

• Zhongfu Circuits’ Thailand factory enters mass production; AI power‑supply orders accelerate intake

On August 14, Zhongfu Circuits stated in its semi‑annual report that its Thailand plant has achieved mass‑production status and passed audits from multiple overseas customers. Backlog orders have grown rapidly thanks to incoming AI primary and secondary power‑supply orders. Revenue from communications and data‑center businesses rose approximately 65% in H1. Cumulative investment for its 1‑million‑square‑meter‑per‑year PCB project reached roughly RMB 407 million, further improving domestic‑overseas capacity collaboration. (Zhongfu Circuits Announcement)

• Pengding Holdings accelerates PCB layout for AI servers and high‑speed optical modules

According to the investor‑relations activity record released August 13, Pengding Holdings generated RMB 2.267 billion in revenue from automotive and server‑grade boards in H1, surging 181.58% year‑on‑year. Revenue from AI‑server PCBs neared RMB 1 billion, while high‑speed optical‑module PCB revenue exceeded RMB 600 million. H1 capital expenditure totalled RMB 6.4 billion. Construction proceeds on schedule for Huai’an Park, Shenzhen Phase‑III Park and Thailand Park, with new capacities slated for phased commissioning starting 2027. (Pengding Holdings Announcement)

• Dongwei Technology secures RMB 163‑million order, expected to lift 2027 performance

On August 18, Dongwei Technology announced a sales contract worth RMB 163 million (tax‑inclusive). Deliverables include vertical continuous copper‑plating lines (pulse & DC types) plus supporting software. The contract shall take effect upon signature and official seal by legal representatives or authorized representatives of both parties. The contract is expected to exert positive impacts on 2027 operating results; actual outcomes may vary subject to market changes, production constraints and technical upgrades. (CLS.cn)