Industrial Securities Co Ltd

The US core PCE price index rose 0.2% month-on-month in July and 3.3% year-on-year, both in line with expectations. Real personal consumption spending was flat month-on-month, showing an economic cooling that supports a pause in Federal Reserve rate hikes, though inflationary pressure has not fully faded. Driven by falling Treasury yields, a weaker dollar and fiscal concerns, gold prices topped 5,000 US dollars an ounce intraday on August 26, hitting a record high. Industrial Securities believes gold could break above 5,000 US dollars this year, while Caitong Securities is bullish on central bank gold buying and lower real rates supporting prices. Bosera Gold ETF has seen net inflows for four consecutive days, attracting a combined 164 million yuan, with average daily net inflows of 40.92 million yuan.

Industrial Securities released its 2026 interim report, with net profit attributable to the parent company of 2.129 billion yuan, up 60.08% from the same period last year. Total operating revenue was 6.73 billion yuan, an increase of 1.326 billion yuan from the same reporting period last year, up 24.54% year-on-year. Net cash inflow from operating activities was 8.001 billion yuan, an increase of 9.968 billion yuan compared with the same reporting period last year. The company's latest asset-liability ratio was 82.74%, up 1.23 percentage points from the previous quarter; the latest return on equity was 3.44%, up 1.25 percentage points from the same period last year.

Industrial Securities released its 2026 semi-annual report, achieving operating revenue of 6.73 billion yuan, up 24.54% year on year, and net profit attributable to shareholders of the listed company of 2.129 billion yuan, up 60.08% year on year. The company plans to distribute a cash dividend of 0.5 yuan per 10 shares, tax included, to all shareholders. Second-quarter net profit was 1.344 billion yuan, while first-quarter net profit was 786 million yuan, meaning second-quarter net profit rose 71% quarter on quarter.

Huachuang Yunxin disclosed a share buyback plan to support its stock price, proposing to repurchase between 100 million and 200 million yuan within three months, making it the sixth Shanghai-listed brokerage to announce a buyback plan since June. Within the past week, five brokerages—Huaan Securities, Guolian Minsheng, Hongta Securities, Zhongtai Securities, and Huachuang Yunxin—successively released buyback plans. Together with Guojin Securities from early June, the total proposed buyback and shareholding increase cap for Shanghai-listed brokerages amounts to no more than 1.26 billion yuan, with most funds earmarked for cancellation or price support. Huaan Securities plans to buy back between 100 million and 200 million yuan, Guolian Minsheng between 100 million and 200 million yuan, Hongta Securities between 50 million and 100 million yuan all for capital reduction, Zhongtai Securities between 100 million and 200 million yuan for capital reduction, and Guojin Securities between 150 million and 300 million yuan. Additionally, a major shareholder of Industrial Securities plans to increase holdings by between 30 million and 60 million yuan, and both Industrial Securities and Zheshang Securities have proposed interim dividend plans.

Nearly 70 companies listed on the Shanghai Stock Exchange have released a flurry of positive signals within two days, spanning share buybacks, increased holdings by major shareholders, upbeat earnings forecasts, major contract signings, and interim dividends. Among them, 17 companies announced new buyback plans with a combined proposed maximum buyback amount of 2.196 billion yuan. Three companies unveiled new shareholding increase plans with a combined proposed maximum increase amount of 240 million yuan. Another nine companies disclosed progress updates on buybacks and increased holdings. The controlling shareholder of Biwin Storage Technology proposed a buyback of shares worth 200 million to 250 million yuan for cancellation. The chairman of Daqin Railway proposed a buyback of shares worth 400 million to 500 million yuan for capital reduction. The actual controller of Shuangyuan Technology proposed using 50 million to 80 million yuan of over-raised funds to buy back shares. On the increased holdings front, a shareholder of Industrial Securities, Fujian Investment and Development Group, plans to increase its stake by 30 million to 60 million yuan. The controlling shareholder of Pan Asian Microvent Tech plans to increase holdings by 5 million to 10 million yuan. On the earnings front, 16 companies released positive announcements. Yuanjie Technology expects first-half revenue to grow 339.13% to 363.53% year-on-year, with net profit attributable to the parent company surging 1,196.91% to 1,304.98%. Lianxun Instruments expects first-half net profit to rise 801.96% to 925.75% year-on-year. Regarding major contracts, a subsidiary of PowerChina signed a subcontract for the water transmission system of the Basrah seawater desalination project in Iraq, with a contract value equivalent to approximately 8.925 billion yuan. In addition, eight companies including Wanhua Chemical, Shandong Gold Mining, and ArcSoft received interim dividend proposals or released interim dividend plans. Controlling shareholders of companies such as Bright Dairy and Power Tech issued commitment letters not to reduce their holdings.