July PMI data will be released; there is a fuel price adjustment window; Cxmt Corporation will list on July 27th, and ZJCT H-shares will debut on the Hong Kong Stock Exchange; the Federal Reserve will announce its interest rate decision; SK Hynix, Samsung Electronics, and Kioxia, three major storage leaders, will report their latest earnings; over 33 billion yuan in market value of restricted shares will become unlocked, and four new stocks will be issued.

Major Events

Key Data to Be Released On Monday, July 27th, the National Bureau of Statistics will release industrial enterprise profit data for January-June. From January to May, profits of industrial enterprises above the designated size increased by 18.8% year-on-year, accelerating by 0.6 percentage points from the January-April period.

On Friday, July 31st, the National Bureau of Statistics will release the July Purchasing Managers' Index (PMI) monthly report. The June manufacturing PMI was 50.3%, up 0.3 percentage points from the previous month and returning to the expansion zone; the non-manufacturing business activity index and the composite PMI output index were 50.2% and 50.6%, respectively, both rising by 0.1 percentage points from the previous month.

Fuel Price Adjustment Window According to the "ten working days" principle, the next adjustment window will be at 24:00 on July 31st.

At the last adjustment window on July 17th, domestic gasoline and diesel retail prices were raised by 300 yuan/ton and 290 yuan/ton, respectively.

Cxmt Corporation Listing on July 27th Cxmt Corporation will list on the STAR Market of the Shanghai Stock Exchange on Monday, July 27th, under the stock code 688825, with an issue price of 8.66 yuan per share. The company is the largest, most technologically advanced, and most comprehensively deployed DRAM R&D, design, and manufacturing integrated enterprise in China.

ZJCT H-Shares Listing on the Hong Kong Stock Exchange On July 22nd, an announcement from the Hong Kong Stock Exchange showed that ZJCT has officially launched its public offering in Hong Kong. The company is expected to finalize the pricing on July 28th and begin trading on the main board of the Hong Kong Stock Exchange on July 30th.

According to the prospectus published on the HKEX disclosure website, the company will offer a total of 54.5 million H-shares globally, with a maximum offer price of 1,010 Hong Kong dollars per share, each lot consisting of 50 shares, and an entry fee of approximately 51,009 Hong Kong dollars. Based on the maximum offer price, total funds raised could reach about 55 billion Hong Kong dollars. After deducting underwriting commissions and expenses, the net proceeds are expected to be approximately 54.5 billion Hong Kong dollars, potentially making it one of the largest IPOs in terms of funds raised on the Hong Kong stock market in 2026.

New Insider Trading Regulations to Take Effect Next Week On July 24th, the Supreme People's Court and the Supreme People's Procuratorate jointly issued a decision to amend the interpretation of specific legal issues in the application of criminal law for insider trading and leaking inside information. This is a systematic revision of the judicial interpretation that has been in effect since June 1, 2012, for 14 years. The new regulations will officially take effect on July 27, 2026, making them a core criminal adjudication basis for regulating securities and futures insider trading and leaking inside information.

Federal Reserve to Announce Interest Rate Decision Next week, the Federal Reserve will hold a policy meeting and announce its interest rate decision. The interest rate swap market indicates that traders estimate a roughly 30% probability of a 25 basis point rate hike in July, and about a 70% probability of maintaining the current rate.

Major Overseas Companies to Release Key Earnings SK Hynix, Samsung Electronics, and Kioxia, three major storage leaders, will announce their latest results. SK Hynix will release its second-quarter earnings on Wednesday, July 29th; Samsung Electronics will publish its full second-quarter earnings on Thursday, July 30th; and Kioxia will report its first-quarter fiscal 2027 results on Friday, July 31st.

Next week, US tech giants begin their earnings reporting season. In the early hours of Thursday, July 30th, Beijing time, Microsoft and Meta will release their fourth-quarter fiscal 2026 and second-quarter 2026 earnings, respectively. In the early hours of Friday, July 31st, Apple and Amazon will report their third-quarter fiscal 2026 and second-quarter 2026 earnings, respectively.

Over 33 Billion Yuan in Restricted Shares Unlock Next Week According to Wind data, from July 27th to July 31st, over 40 companies will have their restricted shares unlocked. Based on the latest closing prices, the total market value of the unlocked shares is over 33 billion yuan.

In terms of the value of the unlocked shares, July 29th is the peak day, with eight companies' unlocked shares totaling 10.749 billion yuan. Based on the closing price on July 24th, the top three in terms of unlocking market value are: Shanghai Airport (10.284 billion yuan), Fullod (4.803 billion yuan), and Xi'an Yicai-U (2.882 billion yuan). In terms of the number of shares unlocked, the top three are: BAIC BluePark (489 million shares), Shanghai Airport (434 million shares), and Zhengyuan Geoinformation (385 million shares).

New Stock Opportunities Wind data shows that four new stocks will be issued next week, including two on the ChiNext board, one on the Beijing Stock Exchange, and one on the STAR Market. The total issuance is approximately 126 million shares, with an estimated total fundraising of 4.025 billion yuan. Specifically, Senhe Hitech and Zhanxin Stock will be issued on July 27th; National Instruments and UltraPure Materials will be issued on July 31st.