February 27th: Highlights and summaries of the front-page headlines from the four major domestic securities newspapers and important financial media

February 27 (Friday), the main headlines and highlights from today’s newspapers are as follows:

China Securities Journal

Gold Investment Choices: Who Is the Better Option?

Recently, China Securities Journal reporters conducted surveys at a well-known gold shop and found that, driven by expectations of price increases at the end of the month and promotional activities during the Spring Festival holiday, many popular products were sold out early, and restocking was difficult. Even after the promotions ended, customers continued to queue, with one customer saying, “Although the promotion is over, I’m still worried about price hikes and want to buy some in advance.” This gold-buying craze is also reflected in the capital markets, with a “golden feast” underway. The China Gold Association stated that in 2025, China’s consumption of gold bars and coins will surpass that of gold jewelry for the first time. Faced with physical gold, bank savings gold, and fund products like gold ETFs and gold stock ETFs, investors are at a crossroads: how to allocate their assets to better participate in this gold-buying wave?

Institutional Surveys in February Near 240 Listed Companies; Investment Opportunities in Humanoid Robots and More Gaining Attention

Since February, various institutions have been actively conducting surveys of listed companies. According to Wind data, as of February 26, when this report was published, nearly 240 companies had received visits from different institutional investors. Since February, the overall A-share market has maintained high-level fluctuations, with more than half of the surveyed companies posting positive returns during the same period. Some stocks have surged over 80% since February, outperforming major market indices.

January Top Car Manufacturers Show Divergent Performance; “Five Gains, Five Losses” Pattern

Amid the backdrop of domestic auto production and sales surpassing 34 million in 2025, reaching a historic high, January 2026 sales data has become an important indicator of the industry’s annual trend. The China Association of Automobile Manufacturers reported that in January 2026, total domestic vehicle sales reached 2.346 million units, with the top ten automakers (groups) selling a combined 1.962 million units, accounting for 83.6% of total sales—marking a new high in recent years’ market concentration. The “winner-takes-all” effect continues to be evident.

Intensive Institutional Surveys and Rising Interest in Brain-Computer Interface Sector

Data shows that by February 26, 80 listed companies in the medical and biotech sectors had been surveyed by institutions this year. Notably, brain-computer interface concept stocks such as Xiangyu Medical, Aipeng Medical, and Meihui Medical attracted multiple institutional visits. Focus areas include product development progress, commercialization, and future plans. Meanwhile, the enthusiasm for overseas expansion of innovative drugs remains strong, with several pharmaceutical companies also attracting institutional attention.

Shanghai Securities News

“Shanghai Seven Policies” Implemented, Bank Mortgage Consultations Significantly Increase on First Day

Shanghai’s second-hand housing transactions have remained above 20,000 units for three consecutive months. According to Centaline Property, in January 2026, second-hand residential transactions in Shanghai totaled 20,300 units, up 26.69% year-on-year. Data from the People’s Bank of Shanghai show that in January, household loans increased by over 33.3 billion yuan, with short-term loans up by 1.75 billion yuan and medium- to long-term loans up by 31.575 billion yuan. This indicates a warming in residents’ mortgage demand.

PBOC Regulates RMB Cross-Border Interbank Financing to Support Offshore Market Liquidity

On February 26, the People’s Bank of China issued the “Notice on Matters Concerning RMB Cross-Border Interbank Financing” (referred to as the “Notice”), supporting domestic banking institutions and foreign entities to conduct standardized RMB cross-border interbank financing. The PBOC stated that it will steadily promote the implementation of the Notice and leverage cross-border financing to serve the real economy and promote healthy development of the offshore RMB market.

Spring Strategy Conferences by Securities Firms: Focus on Technology and Cycles in 2026

The “spring planting” season for securities firms has started earlier than usual. By February 26, several firms including Huafu Securities, Tianfeng Securities, Western Securities, and Caitong Securities had held spring strategy meetings, with others like Open Source Securities, GF Securities, Huayuan Securities, and Guotai Haitong Securities scheduled. Compared to previous years, this year’s early start reflects industry competition evolution. Under the trend of reduced commissions in public funds, traditional “research for commissions” models are being challenged, and research departments are accelerating toward a “service for income” transformation.

Zimbabwe Adjusts Lithium Export Policies; Short-term Lithium Supply Likely Tightens

On February 26, lithium carbonate futures surged 11.83% at the open, reaching 187,700 yuan/ton, and closed up 3.47%. This is the third consecutive day of gains, driven by Zimbabwe, the world’s fourth-largest lithium producer, which has twice adjusted its export policies, aiming to extend the local lithium industry chain and regulate export procedures.

Securities Times

RMB Exchange Rate Rises Strongly, Export Companies Adopt Multiple Strategies to Stabilize Operations

Recently, the RMB exchange rate has continued its strength, reaching new highs for the period. On February 26, onshore RMB/USD broke 6.84, offshore RMB/USD broke 6.83, both hitting highs since April 2023. Since the start of the year, RMB has fluctuated against major currencies like the euro, pound, and yen, but has appreciated rapidly against the dollar. What are the main reasons? What factors will influence the RMB exchange rate this year?

Zambia Suspends Lithium Export; Lithium Carbonate Futures Prices Surge

Recently, Zambia, the world’s fourth-largest lithium producer, announced a suspension of all mineral and lithium concentrate exports, causing short-term supply concerns for China’s new energy industry chain. Currently, China depends on foreign sources for about 60% of its lithium resources. Zambia’s sudden supply halt risks shortages of raw materials for about 9% of lithium salt production. Affected by this, domestic lithium carbonate futures prices have risen sharply for two consecutive days, approaching 190,000 yuan/ton during trading.

Over 500 Mergers and Acquisitions in A-Share Market in Early 2026; High Activity in Hard Technology Sector

In 2026, the A-share M&A market remains active, with increased volume and quality, policy benefits, industry foundation, and active control rights changes. It is a key path for high-quality development of listed companies and cultivating new productive forces. As of February 25, the number of disclosed M&A transactions since the start of the year reached 507, up 33 from last year, with a total value of about 130 billion yuan. Among these, 20 are major asset restructuring cases, maintaining a steady scale.

Financial Products with Warrants Are Popular; February New Issuances Double Year-on-Year

With traditional coupon strategies becoming less effective, warrant-linked financial products with higher yield flexibility have gained popularity early in the year. According to data from China Wealth Management Network, as of February 26, 32 such products were issued in February, more than double the 15 in January and the 18 in February last year, reaching record high monthly sales.

Securities Daily

PBOC Supports Standardized RMB Cross-Border Interbank Financing

To implement the spirit of the 20th CPC Central Committee and improve macro-prudential management of cross-border capital flows, the PBOC issued the “Notice” on February 26, supporting domestic banks and foreign institutions to conduct standardized RMB cross-border interbank financing. The Notice takes effect immediately.

Lithium Battery Industry Benefits Abound; Listed Companies Accelerate Technological Innovation

On February 26, Nankai University announced a breakthrough in electrolyte research for lithium batteries. The team developed new fluorinated solvent molecules that replace traditional lithium-oxygen coordination, enabling reversible cycling of 700 Wh/kg lithium metal batteries.

NIO Subsidiary Secures Over 2.2 Billion Yuan in First Round of Funding

On the evening of February 26, NIO announced that its chip subsidiary, Anhui Shenji Technology, completed a first-round equity financing agreement, raising 2.257 billion yuan, with a post-investment valuation approaching 10 billion yuan. Multiple state-owned and semiconductor-focused investors participated.

Lithium Carbonate Prices Rise Significantly After Holiday

Post-holiday, lithium carbonate prices surged. On February 26, spot battery-grade lithium carbonate was quoted at 173,100 yuan/ton, up 20.38% from 143,800 yuan/ton on February 13. The increase was driven by overseas supply disruptions and post-holiday inventory replenishment.

China National Radio

RMB to USD Hits 34-Month High; What’s Next?

In the first week after the holiday, the RMB/USD exchange rate continued its strength. On February 26, onshore RMB/USD broke 6.84, offshore RMB/USD broke 6.83, both reaching highs since April 2023. Since the start of the year, RMB has fluctuated against major currencies like the euro, pound, and yen, but appreciated rapidly against the dollar. What are the main reasons? What factors will influence the RMB exchange rate this year?

China to Launch Special Campaign Against False Advertising in Online Food and Health Products

On February 26, Liu Songtao, Director of the Market Supervision Department for Special Foods, announced that starting from March, a nationwide six-month campaign will target false advertising in online food and health supplement sales. The focus will be on cracking down on three types of illegal activities.

Yicai Global

Eight Major Automakers’ Internal Communications Reveal How to Break Through a 35 Million Market

Amid ambitious growth targets and cautious industry forecasts, the Chinese auto market’s opening chapter is shaped by this “gap.” According to Yicai, top automakers aim for at least 12% growth in total sales this year. Policy rollbacks and market challenges accelerate industry reshuffling. With only 10 months left in 2026, automakers are racing against time.

RMB Hits Three-Year High, Year-Round Volatility Remains Stable

The RMB/USD exchange rate appreciated rapidly after the holiday, reaching levels not seen in three years. On February 25-26, the rate broke 6.87 onshore and 6.84 offshore, with offshore hitting 6.82665, the highest since April 2023.