Cxmt Corporation is set to go public on Monday, drawing significant market attention. The Federal Reserve will convene a policy meeting, widely expected to hold interest rates steady. July's Purchasing Managers' Index (PMI) data is scheduled for release, and there will be a price adjustment window for refined oil products. Additionally, four new stocks are slated for issuance next week.

Cxmt Corporation is scheduled to list on the Shanghai Stock Exchange's STAR Market on July 27 (Monday), under the stock code 688825, with an IPO price of 8.66 yuan per share. As China's largest and most technologically advanced DRAM company, integrating research, design, and manufacturing, it holds the top domestic position and ranks fourth globally by shipment volume, according to Omdia data.

Vichy Technology will also debut on July 27, offering 8.83 million shares at 22.16 yuan each. The company focuses on research, production, and sales of cosmetic raw materials, primarily skin-active peptides, supplemented by distinctive Chinese plant ingredients and critical general additive raw materials. Leveraging its innovation strengths, it extends its business to design, develop, and manufacture finished cosmetic products, along with customized raw material development services.

The Federal Reserve will hold its interest rate decision meeting next week. Interest rate swaps indicate traders see about a 30% chance of a 25-basis-point rate hike in July, with a 70% probability of no change. A Bloomberg survey of 76 economists found all respondents expect the Fed to maintain the current rate.

Over the past decade, the Fed has had an unwritten rule where chairs would effectively pre-announce the rate path to markets, making the meeting a mere formality. However, Fed Chair Walsh has torn up this script. Since taking office in May, Walsh has repeatedly stated that the Fed will no longer provide forward guidance on rates, instead relying solely on the latest economic data for meeting-by-meeting decisions.

Analysts suggest this creates a more volatile environment for ordinary investors. When the world's most important central bank stops providing hints, uncertainty itself becomes an increasingly costly component of asset prices.

The July PMI data will be released on July 31. The National Bureau of Statistics reported that June's manufacturing PMI stood at 50.3%, up 0.3 percentage points from May and returning to expansion territory. The non-manufacturing business activity index was 50.2%, up 0.1 percentage points, while the composite PMI output index reached 50.6%, also up 0.1 points. Since March, the manufacturing PMI has remained at or above 50% for four consecutive months.

Analyst Wen Tao from the China Logistics Information Center noted that the manufacturing PMI in June maintained steady growth, with both supply and demand expanding in coordination, and high-quality development accelerating. The average manufacturing PMI for the second quarter was 50.2%, returning to expansion after five consecutive quarters in contraction, indicating a solid foundation for stable manufacturing operations and a strengthening positive trend. However, the new orders index has shown greater volatility than the production index this year, mainly due to export fluctuations influenced by the international situation. Geopolitical uncertainties remain, and the sustainability of market demand recovery requires further monitoring.

Based on the "ten working days" principle, the next price adjustment window for refined oil products is July 31 at midnight. According to Jinlianchuang's estimates, as of the fifth working day on July 24, the average price of reference crude oil varieties was $89.27 per barrel, with a change rate of 14.64%, suggesting domestic gasoline and diesel retail prices could increase by 780 yuan per ton.

Industry analysts believe that escalating geopolitical conflicts in the Middle East, disruptions to Red Sea and Hormuz Strait shipping, reduced output from Kazakhstan intensifying crude supply concerns, failed US-Iran negotiations, and potential US military action are key factors. In the short term, geopolitical risks will dominate, and international oil prices are likely to experience high-level volatile trading as developments unfold.

The previous price adjustment window was on July 17, when domestic gasoline and diesel retail prices were raised by 300 yuan per ton and 290 yuan per ton, respectively.

Wind data shows four new stocks will be issued next week: two on the ChiNext board, one on the Beijing Stock Exchange, and one on the STAR Market. Total issuance is about 126 million shares, with an estimated total fundraising of 40.25 billion yuan. Specifically, Senhe Gaoke and Zhanxin Co., Ltd. will be issued on July 27, while Guoyi Company and Chaochun Yicai will be issued on July 31.

Senhe Gaoke specializes in the research, production, and sale of environmentally friendly precious metal beneficiation agents. Targeting the "high pollution, high energy consumption" and low resource utilization issues in downstream gold and precious metal production, the company has independently developed a formula and production process for low-toxicity cyanide-containing leaching agents, establishing a large-scale industrial system.

Zhanxin Co., Ltd. is a national-level specialized and new "little giant" enterprise focused on the research, design, testing, and sales of high-reliability analog chips and micro-module products. Its analog chip products are primarily power management chips, including DC/DC converters, linear regulators (LDO), load and current limit switches (Load Switch), and drain modulation chips.

Guoyi Company has focused on the research and development of high-end scientific instruments since its inception. It serves quantum technology, materials science, chemical engineering, biomedicine, and advanced manufacturing sectors, providing universities, research institutes, and enterprises worldwide with high-end scientific instruments, core key components like enhanced quantum sensors, and solutions for cutting-edge scientific exploration.

Chaochun Yicai is a national-level specialized and new key "little giant" enterprise focusing on special coating processes and related technologies and materials. It primarily serves chip manufacturing and precision optics industries, offering precision component products and services after material modification, precision surface processing, precision cleaning, and special coating processes.