Jingwei Morning Bus: Nasdaq fell for five consecutive days, San Disk fell more than 14%, Apple's market value exceeded US$5 trillion; VISA plans to lay off about 2,600 people
[Overnight Breaking News] The Nasdaq fell for five consecutive days, with SanDisk falling more than 14%. The three major U.S. stock indexes continued to diverge on Tuesday, with the Nasdaq falling for five consecutive trading days. As of the close, the Dow closed up 537.24 points, at 52747.32 points, an increase of 1.03%; the Nasdaq closed down 55.17 points, at 24876.91 points, a decrease of 0.22%; the S&P 500 index closed up 15.6 points, at 7428.78 points, an increase of 0.21%.
Nasdaq fell for five consecutive days, SanDisk fell more than 14% The three major U.S. stock indexes continued to diverge on Tuesday, with the Nasdaq falling for five consecutive trading days. As of the close, the Dow closed up 537.24 points, at 52747.32 points, an increase of 1.03%; the Nasdaq closed down 55.17 points, at 24876.91 points, a decrease of 0.22%; the S&P 500 index closed up 15.6 points, at 7428.78 points, an increase of 0.21%. Large technology stocks were mixed. Google rose more than 2%, Microsoft rose more than 1%, Apple rose nearly 1%, Nvidia rose 0.25%, Tesla fell 0.58%, Amazon fell 0.23%, and Facebook fell 0.08%. Apple's intraday high was $342.89 per share, and its market value once exceeded $5 trillion, becoming the second company in the world to reach $5 trillion after Nvidia. Most bank stocks fell, with JPMorgan Chase rising 0.33%, Goldman Sachs falling more than 1%, Citigroup falling 0.44%, Morgan Stanley falling more than 1%, Bank of America rising 0.79%, and Wells Fargo falling 0.39%. Energy stocks fell across the board, with Exxon Mobil falling more than 1%, Chevron falling more than 1%, ConocoPhillips falling more than 1%, Schlumberger falling more than 3%, and Occidental Petroleum falling more than 1%. Airlines stocks rose collectively, with Boeing up more than 4%, American Airlines up more than 2%, Delta Air Lines up more than 3%, Southwest Airlines up more than 2%, and United Airlines up more than 2%. Chip stocks performed weakly, with the Philadelphia Semiconductor Index falling 4.49%, Micron Technology falling nearly 9%, AMD falling more than 8%, ARM falling more than 8%, Applied Materials falling more than 7%, Marvell Technology falling more than 7%, and Intel falling more than 5%. Storage stocks fell sharply, with SanDisk falling by more than 14%, SK Hynix falling by nearly 9%, Seagate Technology falling by more than 8%, and Western Digital falling by more than 6%. Most Chinese concept stocks rose, with the Nasdaq China Golden Dragon Index rising 1.08%. In terms of popular Chinese concept stocks, Autohome rose by more than 7%, Lukong rose by more than 6%, Li Auto rose by more than 4%, Atour rose by more than 4%, Hesai Technology rose by more than 3%, NetEase rose by nearly 3%, and JD Group rose by more than 2%. In terms of decline, Ame Semiconductor fell by nearly 10%, 21Vianet fell by more than 5%, and GDS fell by more than 2%. Gold and silver prices fell, with COMEX gold futures falling 1.18% to US$4,028.80 per ounce, and COMEX silver futures falling 2.35% to US$57.34 per ounce. International oil prices fell sharply on the 28th. As of the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange fell by US$3.35 to close at US$79.26 per barrel, a decrease of 4.06%; the price of London Brent crude oil futures for September delivery fell by US$4.27 to close at US$84.09 per barrel, a decrease of 4.83%. International oil prices fell for three consecutive trading days. The price of light crude oil futures for September delivery on the New York Mercantile Exchange fell by 14.03% cumulatively, and the price of London Brent crude oil futures for September delivery fell by 16.49% cumulatively. According to Reuters, sources said that on August 2, OPEC+ core members will hold a meeting and are expected to increase their production target in September by about 188,000 barrels per day, and will suspend production increases for three months starting in October. Trump threatens again to strike Iran's Haoshan underground nuclear facility U.S. President Trump once again threatened on the 28th that if the United States and Iran cannot reach an agreement, the United States will attack Iran's Haoshan underground nuclear facility. In an interview with Fox News Channel, Trump said: "We have the best cameras in the world pointed there... I am very aware of the situation in Haoshan, and it is not a big problem." He said that if the United States and Iran cannot reach an agreement, Haoshan must be destroyed. Trump told the media on the 21st that the United States "may soon" attack Iran's Haoshan underground nuclear facility. Iran's military warns not to accept U.S. use of Iranian assets as "compensation" According to a report by the Islamic Republic of Iran Radio and Television on the 28th, a spokesman for the Central Headquarters of the Iranian Armed Forces in Hatam Anbia said that any country or company that accepts so-called compensation from the United States for using Iranian assets will not be allowed to pass through the Strait of Hormuz.
The spokesman said that U.S. President Trump had previously announced that he would use Iran’s frozen assets to compensate ships damaged during the Iran-U.S. conflict. Iran believes that the damage to these ships was caused by the US military creating insecurity in the region and "illegal entry into the illegal and unsafe waterway in the southern Strait of Hormuz." He warned that from now on, ships belonging to any country or company that supports Trump’s above-mentioned proposals and uses Iran’s frozen assets will be prohibited from passing through the Strait of Hormuz. Yemen's Houthis say they attacked a Saudi oil tanker Yemen's Houthi armed forces issued a statement on the 28th saying that the organization carried out a military attack on a Saudi Arabian oil tanker on the same day on the grounds that the ship violated its maritime navigation ban against Saudi Arabia and ignored its warnings. The statement said multiple ballistic missiles were used in the operation and forced the ship to turn around and return home. The statement also stated that the Houthi armed forces in Yemen will continue to implement the maritime blockade measures against Saudi Arabia, and that they will adhere to the course of action of "responding to blockade with blockade, and to respond to escalation with escalation." The Houthi armed forces announced a maritime embargo on Saudi Arabia on the 20th, and announced on the 23rd that they would use missiles and drones to attack two Saudi oil tankers in the Red Sea that violated their embargo. On the 25th, the Saudi-led multinational coalition carried out attacks on military targets of the Houthi armed forces in Hodeidah Province, Yemen, in response to the Houthi armed forces' attacks on their merchant ships. Oman proposes new mechanism for joint management of Strait of Hormuz A Gulf source disclosed on the 28th that Oman proposed to Iran a regional mechanism to jointly manage shipping in the Strait of Hormuz, and ships passing through the strait could contribute on a voluntary basis. At present, neither Omani nor Iranian officials have confirmed the news. The source, who did not want to be named, said that the new mechanism refers to the management methods of the Malacca Strait, and users voluntarily donate to relevant funds for maintaining the waterway for environmental protection and search and rescue work. Oman’s latest proposal has received support from some regional countries. It is unclear how Iran will respond to this proposal. War in Middle East leads to sharp drop in Iraqi crude oil exports The Iraqi Oil Ministry issued a statement on the 28th saying that the country exported a total of approximately 32.11 million barrels of crude oil in May and June, and the average monthly export volume was far lower than the level before the outbreak of the war in the Middle East. The statement quoted statistics from the Iraqi National Petroleum Marketing Organization as saying that in May and June, Iraq exported approximately 20.24 million barrels of crude oil through Basra in southern Iraq, approximately 10.31 million barrels of crude oil through Kirkuk in northern Iraq through Ceyhan Port in Turkey, and approximately 1.56 million barrels of crude oil through the Kurdish Autonomous Region in northern Iraq through Ceyhan Port. Since the outbreak of the war in the Middle East on February 28, navigation in the Strait of Hormuz, a key channel for global energy trade, has almost come to a standstill, resulting in a significant reduction in Iraqi crude oil exports in recent months. Data show that Iraq’s crude oil exports in February were approximately 99.87 million barrels. U.S. consumer confidence index declines in July Preliminary survey results released by the Conference Board, an American research organization, on the 28th showed that the U.S. consumer confidence index was 90.8 in July, lower than 92.2 in June. The survey showed that U.S. consumers' assessment of current business and job market conditions fell 3.6 points to 114.9 in July. The consumer expectations index, which reflects short-term income prospects, business and job market conditions, remained unchanged at 74.7. Comments submitted by consumers in the survey show that most of the current factors affecting the U.S. economy are still pessimistic. The frequency with which respondents mentioned gas prices dropped slightly but remained at a high level overall; the number of mentions of food and grocery prices increased. The survey also showed that consumers' inflation expectations for the next 12 months have dropped, and the proportion of consumers who expect interest rates to rise in the next year remained unchanged at 61.3%. Dana Peterson, chief economist at The Conference Board, said consumer confidence edged lower in July, continuing an overall downward trend that began later in 2021. Consumers' assessment of current business and job market conditions has fallen for three consecutive months. VISA will lay off 7% of its employees According to Reuters, VISA said on Tuesday it planned to cut about 7% of its employees, or about 2,600 positions. A spokesman for the company said the move was aimed at improving operational efficiency. The layoffs will mainly affect technology and product teams.
According to reports, earlier this year, industry giant Mastercard announced plans to lay off 4% of its global workforce, citing the need to refocus investments in different areas. Financial technology company Block also said in February that it would cut nearly half of its employees, or about 4,000 positions. As of the close of U.S. stocks, VISA rose 1.23% to US$366.99 per share. AT&T acquires Echostar spectrum resources for $23 billion According to Reuters, U.S. telecom operator AT&T said on Tuesday that it had completed the acquisition of some of EchoStar's wireless spectrum licenses for US$23 billion as part of an agreement announced in August 2025. FIFA plans to sell "World Cup equity" According to Reuters, FIFA said on Tuesday it plans to establish a subsidiary worth $20 billion to manage the World Cup and other events and provide up to 20% of shares to outside investors. The move sparked a backlash from UEFA, which accused world football's governing body of selling the competition's "soul" to outsiders. Under the plan, FIFA will set up a new entity called FIFA Forward Enterprise to be responsible for "commercial operations and event operations." According to reports, FIFA is one of the richest sports organizations in the world, with annual revenue of billions of dollars, mainly from broadcast rights, sponsorships and other commercial cooperation related to the World Cup. The report mentioned that in recent years, the relationship between UEFA and FIFA has continued to deteriorate. The proposal sparked fierce opposition from UEFA, which said the proposal "crosses a line that football's governing body should never cross". [Today’s attention (Beijing time)] 10:00 The State Council Information Office holds a press conference on the protection and use of intellectual property rights during the "15th Five-Year Plan" period 10:00 The Taiwan Affairs Office of the State Council held a press conference on July 29 15:00 The National Health Commission holds a press conference on promoting Sanming’s medical reform experience according to local conditions Jiakai Biology(920165) Subscription code: 920165 Issuance price: 19.26 yuan/share Issuance P/E ratio: 14.98 Listing place: Beijing Stock Exchange Main business: R&D, production and sales of functional raw materials for cosmetics. Qian'an Technology(920065) Issuance price: 24.30 yuan/share Issuance P/E ratio: 10.28 Main business: R&D, design and sales of private brand products. State Administration for Market Regulation: Crack down on market chaos such as “copycat lists” and “pay-to-buy lists” On the 28th, the State Administration for Market Regulation held a special press conference on "Special Rectification of Illegal Behaviors in Market-oriented Activities". Yao Lei, director of the Price Supervision and Competition Bureau of the State Administration for Market Regulation, said that in recent years, festivals, exhibitions, forums and list evaluation activities have played a positive role in promoting economic and trade exchanges and promoting industry development, but some chaos has also occurred: some activities violate regulations and use high-profile titles such as "National" and "World", and use official names to exaggerate their impact; some activities The organizers force enterprises to participate in exhibitions and charge illegal fees, which unreasonably increases the burden on enterprises; some operators deviate from the requirements of high-quality development, seek false reputations instead of actual results, and strive for "eyeballs" instead of performance. They use "copycat lists", "pay-to-buy lists", "busiest five" and other exaggerated and false propaganda, harming the rights and interests of consumers and other operators, and affecting the order of market competition. Ministry of Commerce: China urges Turkey to respect WTO expert panel ruling The head of the Department of Treaty and Law of the Ministry of Commerce responded to reporters’ questions regarding the WTO’s release of the expert group report on the WTO dispute case against Turkey on restrictive measures on electric vehicles and other vehicles. Since 2023, Turkey has successively adopted additional tariffs, import licenses and other restrictive measures on electric vehicles, hybrid vehicles and other vehicles exported to China, violating multilateral trade rules such as binding tariffs, national treatment, and most-favored-nation treatment, seriously damaging China’s legitimate trade interests and China-Turkey economic and trade relations. China urges Turkey to respect the ruling of the WTO expert group, take concrete actions, and correct the illegal measures as soon as possible. The number of convertible bonds issued during the year doubled year-on-year
Wind data shows that based on the issuance announcement date, 45 convertible bonds have been publicly issued since 2026, and the number of issuances has doubled compared with the same period last year; the cumulative issuance fund-raising scale has reached 55.816 billion yuan, a significant year-on-year increase. From the perspective of issuer structure, the industrial attributes of the convertible bond market continue to be optimized, and companies with scientific and technological innovation attributes have gradually become the main force in issuance. Since the beginning of this year, a total of 26 convertible bonds have been issued by the GEM and the Science and Technology Innovation Board, accounting for 57.78% of all newly issued convertible bonds. The Shanghai stock market’s 2025 annual dividend fund exceeding one trillion yuan has been distributed As of July 28, cash dividends for 2025 from listed companies on the Shanghai Stock Exchange have exceeded 1 trillion yuan, and a further 120 billion yuan in dividend funds will be distributed in the near future. Data show that 29 companies have annual dividends exceeding 10 billion yuan. Among them, Industrial and Commercial Bank of China, China Construction Bank, and China Mobile have paid dividends exceeding 100 billion yuan; 6 companies including Agricultural Bank of China, PetroChina, and Kweichow Moutai have paid dividends exceeding 50 billion yuan. Stable and large dividends have pushed the overall dividend rate of the Shanghai Stock Exchange sector to 2.22%. More than 240 companies have a dividend rate of more than 2.5% for three consecutive years, and more than 180 companies have a dividend rate of more than 3%. The team of high-quality high-dividend companies continues to grow. 43 A-share companies terminated their IPOs during the year Chairman of Zhongji InnoLight proposes to repurchase shares of 4 billion to 8 billion yuan Zhongji InnoLight announced that the company’s chairman and president Liu Sheng proposed that the company repurchase some of the company’s issued RMB ordinary shares (A shares) and use them for equity incentives or employee stock ownership plans at an appropriate time in the future. The total amount of repurchase funds shall not be less than 4 billion yuan (inclusive) and not exceed 8 billion yuan (inclusive). Cambrian: Plans to launch 5 million restricted stock incentive plan Cambrian disclosed the 2026 Restricted Stock Incentive Plan (Draft), which plans to grant 5 million restricted shares to incentive targets, accounting for approximately 0.80% of the company's total share capital. OpenAI agent hacks into second tech company customer account According to Reuters, according to an executive of Modal Labs, a New York-based technology company, and two other people familiar with the matter, he escaped from OpenAI and actively attacked the agent of the artificial intelligence open source community Hugging Face, and also hacked into the account of a Modal customer.
The spokesman said that U.S. President Trump had previously announced that he would use Iran’s frozen assets to compensate ships damaged during the Iran-U.S. conflict. Iran believes that the damage to these ships was caused by the US military creating insecurity in the region and "illegal entry into the illegal and unsafe waterway in the southern Strait of Hormuz." He warned that from now on, ships belonging to any country or company that supports Trump’s above-mentioned proposals and uses Iran’s frozen assets will be prohibited from passing through the Strait of Hormuz. Yemen's Houthis say they attacked a Saudi oil tanker Yemen's Houthi armed forces issued a statement on the 28th saying that the organization carried out a military attack on a Saudi Arabian oil tanker on the same day on the grounds that the ship violated its maritime navigation ban against Saudi Arabia and ignored its warnings. The statement said multiple ballistic missiles were used in the operation and forced the ship to turn around and return home. The statement also stated that the Houthi armed forces in Yemen will continue to implement the maritime blockade measures against Saudi Arabia, and that they will adhere to the course of action of "responding to blockade with blockade, and to respond to escalation with escalation." The Houthi armed forces announced a maritime embargo on Saudi Arabia on the 20th, and announced on the 23rd that they would use missiles and drones to attack two Saudi oil tankers in the Red Sea that violated their embargo. On the 25th, the Saudi-led multinational coalition carried out attacks on military targets of the Houthi armed forces in Hodeidah Province, Yemen, in response to the Houthi armed forces' attacks on their merchant ships. Oman proposes new mechanism for joint management of Strait of Hormuz A Gulf source disclosed on the 28th that Oman proposed to Iran a regional mechanism to jointly manage shipping in the Strait of Hormuz, and ships passing through the strait could contribute on a voluntary basis. At present, neither Omani nor Iranian officials have confirmed the news. The source, who did not want to be named, said that the new mechanism refers to the management methods of the Malacca Strait, and users voluntarily donate to relevant funds for maintaining the waterway for environmental protection and search and rescue work. Oman’s latest proposal has received support from some regional countries. It is unclear how Iran will respond to this proposal. War in Middle East leads to sharp drop in Iraqi crude oil exports The Iraqi Oil Ministry issued a statement on the 28th saying that the country exported a total of approximately 32.11 million barrels of crude oil in May and June, and the average monthly export volume was far lower than the level before the outbreak of the war in the Middle East. The statement quoted statistics from the Iraqi National Petroleum Marketing Organization as saying that in May and June, Iraq exported approximately 20.24 million barrels of crude oil through Basra in southern Iraq, approximately 10.31 million barrels of crude oil through Kirkuk in northern Iraq through Ceyhan Port in Turkey, and approximately 1.56 million barrels of crude oil through the Kurdish Autonomous Region in northern Iraq through Ceyhan Port. Since the outbreak of the war in the Middle East on February 28, navigation in the Strait of Hormuz, a key channel for global energy trade, has almost come to a standstill, resulting in a significant reduction in Iraqi crude oil exports in recent months. Data show that Iraq’s crude oil exports in February were approximately 99.87 million barrels. U.S. consumer confidence index declines in July Preliminary survey results released by the Conference Board, an American research organization, on the 28th showed that the U.S. consumer confidence index was 90.8 in July, lower than 92.2 in June. The survey showed that U.S. consumers' assessment of current business and job market conditions fell 3.6 points to 114.9 in July. The consumer expectations index, which reflects short-term income prospects, business and job market conditions, remained unchanged at 74.7. Comments submitted by consumers in the survey show that most of the current factors affecting the U.S. economy are still pessimistic. The frequency with which respondents mentioned gas prices dropped slightly but remained at a high level overall; the number of mentions of food and grocery prices increased. The survey also showed that consumers' inflation expectations for the next 12 months have dropped, and the proportion of consumers who expect interest rates to rise in the next year remained unchanged at 61.3%. Dana Peterson, chief economist at The Conference Board, said consumer confidence edged lower in July, continuing an overall downward trend that began later in 2021. Consumers' assessment of current business and job market conditions has fallen for three consecutive months. VISA will lay off 7% of its employees According to Reuters, VISA said on Tuesday it planned to cut about 7% of its employees, or about 2,600 positions. A spokesman for the company said the move was aimed at improving operational efficiency. The layoffs will mainly affect technology and product teams.
According to reports, earlier this year, industry giant Mastercard announced plans to lay off 4% of its global workforce, citing the need to refocus investments in different areas. Financial technology company Block also said in February that it would cut nearly half of its employees, or about 4,000 positions. As of the close of U.S. stocks, VISA rose 1.23% to US$366.99 per share. AT&T acquires Echostar spectrum resources for $23 billion According to Reuters, U.S. telecom operator AT&T said on Tuesday that it had completed the acquisition of some of EchoStar's wireless spectrum licenses for US$23 billion as part of an agreement announced in August 2025. FIFA plans to sell "World Cup equity" According to Reuters, FIFA said on Tuesday it plans to establish a subsidiary worth $20 billion to manage the World Cup and other events and provide up to 20% of shares to outside investors. The move sparked a backlash from UEFA, which accused world football's governing body of selling the competition's "soul" to outsiders. Under the plan, FIFA will set up a new entity called FIFA Forward Enterprise to be responsible for "commercial operations and event operations." According to reports, FIFA is one of the richest sports organizations in the world, with annual revenue of billions of dollars, mainly from broadcast rights, sponsorships and other commercial cooperation related to the World Cup. The report mentioned that in recent years, the relationship between UEFA and FIFA has continued to deteriorate. The proposal sparked fierce opposition from UEFA, which said the proposal "crosses a line that football's governing body should never cross". [Today’s attention (Beijing time)] 10:00 The State Council Information Office holds a press conference on the protection and use of intellectual property rights during the "15th Five-Year Plan" period 10:00 The Taiwan Affairs Office of the State Council held a press conference on July 29 15:00 The National Health Commission holds a press conference on promoting Sanming’s medical reform experience according to local conditions Jiakai Biology(920165) Subscription code: 920165 Issuance price: 19.26 yuan/share Issuance P/E ratio: 14.98 Listing place: Beijing Stock Exchange Main business: R&D, production and sales of functional raw materials for cosmetics. Qian'an Technology(920065) Issuance price: 24.30 yuan/share Issuance P/E ratio: 10.28 Main business: R&D, design and sales of private brand products. State Administration for Market Regulation: Crack down on market chaos such as “copycat lists” and “pay-to-buy lists” On the 28th, the State Administration for Market Regulation held a special press conference on "Special Rectification of Illegal Behaviors in Market-oriented Activities". Yao Lei, director of the Price Supervision and Competition Bureau of the State Administration for Market Regulation, said that in recent years, festivals, exhibitions, forums and list evaluation activities have played a positive role in promoting economic and trade exchanges and promoting industry development, but some chaos has also occurred: some activities violate regulations and use high-profile titles such as "National" and "World", and use official names to exaggerate their impact; some activities The organizers force enterprises to participate in exhibitions and charge illegal fees, which unreasonably increases the burden on enterprises; some operators deviate from the requirements of high-quality development, seek false reputations instead of actual results, and strive for "eyeballs" instead of performance. They use "copycat lists", "pay-to-buy lists", "busiest five" and other exaggerated and false propaganda, harming the rights and interests of consumers and other operators, and affecting the order of market competition. Ministry of Commerce: China urges Turkey to respect WTO expert panel ruling The head of the Department of Treaty and Law of the Ministry of Commerce responded to reporters’ questions regarding the WTO’s release of the expert group report on the WTO dispute case against Turkey on restrictive measures on electric vehicles and other vehicles. Since 2023, Turkey has successively adopted additional tariffs, import licenses and other restrictive measures on electric vehicles, hybrid vehicles and other vehicles exported to China, violating multilateral trade rules such as binding tariffs, national treatment, and most-favored-nation treatment, seriously damaging China’s legitimate trade interests and China-Turkey economic and trade relations. China urges Turkey to respect the ruling of the WTO expert group, take concrete actions, and correct the illegal measures as soon as possible. The number of convertible bonds issued during the year doubled year-on-year
Wind data shows that based on the issuance announcement date, 45 convertible bonds have been publicly issued since 2026, and the number of issuances has doubled compared with the same period last year; the cumulative issuance fund-raising scale has reached 55.816 billion yuan, a significant year-on-year increase. From the perspective of issuer structure, the industrial attributes of the convertible bond market continue to be optimized, and companies with scientific and technological innovation attributes have gradually become the main force in issuance. Since the beginning of this year, a total of 26 convertible bonds have been issued by the GEM and the Science and Technology Innovation Board, accounting for 57.78% of all newly issued convertible bonds. The Shanghai stock market’s 2025 annual dividend fund exceeding one trillion yuan has been distributed As of July 28, cash dividends for 2025 from listed companies on the Shanghai Stock Exchange have exceeded 1 trillion yuan, and a further 120 billion yuan in dividend funds will be distributed in the near future. Data show that 29 companies have annual dividends exceeding 10 billion yuan. Among them, Industrial and Commercial Bank of China, China Construction Bank, and China Mobile have paid dividends exceeding 100 billion yuan; 6 companies including Agricultural Bank of China, PetroChina, and Kweichow Moutai have paid dividends exceeding 50 billion yuan. Stable and large dividends have pushed the overall dividend rate of the Shanghai Stock Exchange sector to 2.22%. More than 240 companies have a dividend rate of more than 2.5% for three consecutive years, and more than 180 companies have a dividend rate of more than 3%. The team of high-quality high-dividend companies continues to grow. 43 A-share companies terminated their IPOs during the year Chairman of Zhongji InnoLight proposes to repurchase shares of 4 billion to 8 billion yuan Zhongji InnoLight announced that the company’s chairman and president Liu Sheng proposed that the company repurchase some of the company’s issued RMB ordinary shares (A shares) and use them for equity incentives or employee stock ownership plans at an appropriate time in the future. The total amount of repurchase funds shall not be less than 4 billion yuan (inclusive) and not exceed 8 billion yuan (inclusive). Cambrian: Plans to launch 5 million restricted stock incentive plan Cambrian disclosed the 2026 Restricted Stock Incentive Plan (Draft), which plans to grant 5 million restricted shares to incentive targets, accounting for approximately 0.80% of the company's total share capital. OpenAI agent hacks into second tech company customer account According to Reuters, according to an executive of Modal Labs, a New York-based technology company, and two other people familiar with the matter, he escaped from OpenAI and actively attacked the agent of the artificial intelligence open source community Hugging Face, and also hacked into the account of a Modal customer.