[The world's first software-defined near-memory computing 3D chip was released in Shanghai.]

[Bao Gang United Steel: H1 Net Profit Expected to Increase 52% to 98% YoY] Bao Gang United Steel announced that it expects its H1 2026 net profit attributable to shareholders of the parent company to be between 230 million yuan and 300 million yuan, an increase of 78.67 million yuan to 149 million yuan compared with the same period last year, up 52% to 98% YoY. H1 2026 net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to be between 340 million yuan and 500 million yuan, an increase of 233 million yuan to 393 million yuan compared with the same period last year, up 218% to 368% YoY. In H1 2026, steel market demand was weak, structural differentiation was evident, and the rise in coal and coke raw material prices squeezed enterprises' profit margins. Facing downward pressure on the industry, the company firmly adhered to the "high-quality premium steel + series rare earth steel" strategy, deepened product structure adjustment, increased the production and sales proportion of high value-added new steel materials, and comprehensively promoted cost reduction and efficiency improvement across the entire process. Coupled with the gradual resumption of production at some production lines and the rise in the rare earth market, the company turned losses into profits overall in Q2, achieving a significant increase in H1 profitability.

TSMC (TSM.N) saw quarterly sales rise 36%, in line with market expectations, indicating that global demand for AI hardware remains strong. Based on calculations, for the three months ended June, TSMC's revenue reached NT$1.27 trillion ($39.6 billion), consistent with the average analyst estimate. The results were driven by a strong June, when sales rose 68% YoY. In June, CEO Wei Zhejia warned that even as the US adds more manufacturing capacity in the coming years, the company will still be unable to meet demand, led by US clients, for many years. This view was echoed by major chipmakers. SK Hynix currently expects that the ongoing memory chip shortage will extend beyond 2030. TSMC is set to release its full earnings report on Thursday, along with updated full-year guidance and capital expenditure plans.

GigaDevice, the "storage king," hit its daily price limit down. At the close, the stock was reported at CNY 550.8 per share, having fallen over 30% since June 30, with a total market capitalization of CNY 386.4 billion. Notably, on the same day, the storage chip sector to which GigaDevice belongs also plunged collectively. At the close, Shannon Semi hit its 20% daily price limit down, and many popular stocks such as Wuxi Taiji Industry, Demingli, and Shenzhen Kaifa Technology hit their 10% daily price limit down. In response, a GigaDevice representative stated that this round of stock price adjustment has a strong correlation with external market movements, "The magnitude of our company's current stock price decline is similar to that of SK Hynix; basically both are down over 30% now. We are all in the storage business, and the upward trends were also similar before." Regarding market concerns about the company's business, the representative noted, "The earnings forecast is the most convincing proof of our performance.