A Glance at Major Financial Events for the Week of March 30 - April 5, all in Beijing Time:
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The core themes for next week are as follows:
First is macro validation and geopolitical maneuvering. The US Non-Farm Employment and Manufacturing PMI for March will influence expectations for the Federal Reserve's future policy, while China's official PMI will verify the strength of the post-holiday recovery. Simultaneously, continued attention is needed for the Middle East situation, with the G7 potentially meeting to discuss releasing oil reserves, requiring close monitoring of oil price fluctuations.
Second is industrial transformation and the wave of price hikes. The cancellation of export tax rebates for products like photovoltaics starting April 1 will compel the industry to move away from low-price internal competition and accelerate global capacity layout. On the same day, a wave of price hikes will hit the semiconductor and component sectors, with giants like Texas Instruments, Infineon, and Murata raising prices across the board, confirming a rebound in the industry's prosperity.
Finally, the domestic earnings season is entering its peak. The hard tech and AI sectors face a performance test. &#34;The first stock in large models,&#34; Zhipu AI, &#34;Domestic GPU,&#34; Biren Technology, and optical communication leader InnoLight Technology, along with Seres and China Shenhua, will be releasing their results, directly guiding the future market direction.
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<h2>Economic Indicators: US Non-Farm Employment and China PMI</h2>
<ul>
<li>US Non-Farm Employment Data for March</li>
</ul>
On Friday, April 3, the US will release its March Non-Farm Payrolls report. After the unexpected slump of 92,000 in February, the market generally expects a rebound to 55,000 new jobs in March. Bloomberg predicts that, driven by a post-strike job rebound, March Non-Farm Employment will increase by 80,000, with the unemployment rate steady at 4.4%. Whether the US labor market can warm up will be a major highlight.
Additionally, on Wednesday, April 1, the US will release the ADP employment change for March. As an important forward-looking guide for Friday's Non-Farm Employment, this data will provide early clues on corporate recruitment.
<ul>
<li>US March ISM Manufacturing Index</li>
</ul>
On Wednesday, April 1, the US will release the ISM Manufacturing Index for March. The previous reading for February was 52.4, and the market currently expects 52.2 for March, indicating a continued expansion in the manufacturing sector.
<ul>
<li>China Official Manufacturing PMI for March</li>
</ul>
On March 31, China's official PMI data for March will be released. Looking back at February, data from the National Bureau of Statistics showed a manufacturing PMI of 49.0%, down 0.3 percentage points from the previous month. Wen Tao, an analyst at the China Logistics Information Center, believes that in March, as the impact of the Spring Festival holiday basically subsides, temperatures gradually rise across the country, and factories and construction sites fully resume work, the economy and society will return to a normal track of operation. Additionally, on March 31, China's RatingDog Manufacturing PMI for March will also be released.
<ul>
<li>South Korea's March Exports and Tokyo CPI for Japan</li>
</ul>
Driven by strong global demand for semiconductors, South Korea's export growth may accelerate in March. Bloomberg estimates that shipments in March will increase by 40.0% year-on-year, up from 28.7% in February.
Furthermore, the Tokyo CPI for March will be released next week. Due to the base effect from last year's surge in food prices (including rice), Tokyo's CPI inflation may cool down in March. Bloomberg expects the core indicator (excluding fresh food) to rise 1.7% year-on-year, lower than the 1.8% in February.
<h2>Financial Events</h2>
<ul>
<li>Continued Attention to Middle East Conflict; G7 May Discuss Releasing Strategic Oil Reserves</li>
</ul>
On March 30, G7 finance ministers, energy ministers, and central bank governors also held a meeting to discuss the issue of releasing strategic oil reserves.
Additionally, according to CCTV reporters, on March 28 local time, sources in the US reported that the US Department of Defense is preparing for a ground operation in Iran lasting several weeks.
Officials stated that if President Trump approves the plan, it would mark a new phase of the war, with risks potentially significantly higher than in previous weeks. It is reported that thousands of US soldiers and Marines have already arrived in the Middle East.
<ul>
<li>Ministry of Finance and State Administration of Taxation: Cancellation of VAT Export Tax Rebates for PV and Other Products Effective April 1</li>
</ul>
The Ministry of Finance announced that starting April 1, 2026, VAT export tax rebates for products like photovoltaics will be canceled. From April 1, 2026, to December 31, 2026, the VAT export tax rebate rate for battery products will be lowered from 9% to 6%; starting January 1, 2027, the VAT export tax rebate for battery products will be canceled.
Industry analysis suggests that the cancellation of export tax rebates, by imposing short-term pressure on exporters, will accelerate the internal motivation for companies to conduct global capacity layouts, thereby driving China's photovoltaic industry away from &#34;low-price internal competition&#34; and toward a high-quality development track of &#34;technological pricing.&#34;
<ul>
<li>Ant Group's Tender Offer for Bright Smart Securities Expected to Complete</li>
</ul>
Ant Group is accelerating its entry into the brokerage business. Bright Smart Securities Financial announced on the night of Monday, March 16, that the tender offer initiated by Ant Group has been approved by relevant Chinese authorities. The most critical regulatory step has been completed, and closing is expected on March 30. The company's stock will resume trading on March 17.
<ul>
<li>Powell to Appear in Harvard University's 'Principles of Economics' Class</li>
</ul>
According to the Federal Reserve's schedule, Fed Chair Powell will appear in Harvard University's 'Principles of Economics' class after the market opens on Monday to participate in a discussion.
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<ul>
<li>French President Emmanuel Macron to Visit Japan and South Korea</li>
</ul>
From March 31 to April 2, French President Macron will visit Japan and is expected to hold talks with Prime Minister Sanae Takaichi. From April 2 to April 3, Macron will pay a state visit to South Korea and hold a summit with President Lee Jae-myung.
<ul>
<li>Multiple FOMC Voting Members to Speak</li>
</ul>
On March 31, FOMC permanent voter and New York Fed President Williams will speak. On April 1, 2028 FOMC voter and St. Louis Fed President Musalem will speak on the US economy and monetary policy. On April 2, 2027 FOMC voter and Chicago Fed President Goolsbee will deliver opening remarks at an event hosted by the bank.
<ul>
<li>Qingming Festival Holiday: April 4 to 6; Spring Break in Chengdu, Nanjing, Suzhou, etc.: April 1 to 3</li>
</ul>
Qingming Festival Holiday: April 4 to 6. Additionally, cities like Chengdu, Nanjing, Suzhou, Changzhou, Yangzhou, Leshan, Meishan, and Shaoxing have officially announced spring break dates, leading the way in implementing relevant policies. According to the regulations, spring break is from April 1 to 3, which, combined with the Qingming Festival, makes for a 6-day holiday.
<ul>
<li>Semiconductor Industry Price Hike Wave: Price Increases for Infineon, Texas Instruments, NXP, etc. Take Effect</li>
</ul>
A new wave of price hikes is brewing in the global semiconductor industry. Three major international chip design giants—Texas Instruments, NXP, and Infineon—have recently sent out price adjustment notices to customers, announcing price increases for some products starting April 1. Among them, some Texas Instruments products will see increases of up to 85%. Mainstream products from Infineon are expected to rise by 5% to 15%, while adjustments for some high-end products may be even higher.
<ul>
<li>Passive Component Companies Bulk Price Hikes: Murata, the World's Largest MLCC Supplier, Raises Prices by Up to 35%</li>
</ul>
The passive component giant Murata has formally proposed price hikes, initiating comprehensive increases for AI server and high-end automotive-grade MLCC products, with the range between 15% and 35%. The new price structure will take effect on April 1 (based on orders received by the company). Additionally, Mitsubishi Gas Chemical announced a 30% price increase for all CCL, Prepreg, and CRS products starting April 1. Yageo issued its third price hike letter: raising prices for tantalum capacitor products starting April 1.
<ul>
<li>Domestic Route Fuel Surcharges Set to Rise on April 5</li>
</ul>
Spring Airlines issued a notice stating that for tickets sold starting from 00:00 on April 5, 2026 (based on order time), fuel surcharges for domestic routes will be increased. Specific details of the adjustment will be subject to subsequent notifications. (Yicai)
<ul>
<li>Yueyang Forest &amp; Paper, Baosteel, and Other Companies Implement Price Hikes in April</li>
</ul>
Paper: 1. Yueyang Forest &amp; Paper issued a price hike letter: starting April 1, the order prices for paper bag series, composite series, and functional packaging paper series from machines No. 3, 6, and 7 will be increased by 200 yuan/ton from current prices. 2. Chenming Paper will raise the price of its white cardboard series products by 200 yuan per ton starting April 1, 2026.
Steel: 1. Baosteel recently issued a price adjustment letter showing it will raise the base price of over ten varieties, including hot-rolled, pipe, and wire rod, by 200 yuan/ton in April. 2. Angang Steel recently issued a price adjustment letter showing it will raise the base price of over ten varieties, including hot-rolled, pipe, and wire rod, by 200 yuan/ton in April. 3. Bengang Steel recently issued a price adjustment letter showing it will raise the base price of over ten varieties, including hot-rolled, pipe, and wire rod, by 200 yuan/ton in April.
<ul>
<li>Indonesian Finance Minister: Windfall Tax on Nickel and Coal May Be Implemented on April 1 if Approved</li>
</ul>
Indonesian Finance Minister: If the government approves, the windfall tax on nickel and coal may be implemented on April 1.
<ul>
<li>vivo X Series Spring New Product Launch Event</li>
</ul>
vivo X series spring new product launch event will be held on March 30 at 19:00 in Lijiang, Yunnan.
<ul>
<li>XPeng Motors: Chinese Company Name to Change to &#34;XPeng Group&#34;</li>
</ul>
XPeng Motors announced that starting April 1, 2026, the company's Chinese name (for identification purposes only) will change from &#34;XPeng Motors Co., Ltd.&#34; to &#34;XPeng Group.&#34; The company's English name remains unchanged as &#34;XPeng Inc.&#34; Starting at 9:00 AM on April 1, 2026, the Chinese stock short name for the company's Class A ordinary shares traded on the Main Board of the Stock Exchange of Hong Kong will change from &#34;XPENG-W&#34; to &#34;XPENG GP-W.&#34;
<h2>Earnings</h2>
<ul>
<li>Zhipu AI, Biren Technology, Iluvatar CoreX, InnoLight Technology, Seres, China Shenhua, etc.</li>
</ul>
The peak of the domestic earnings season arrives next week. &#34;The first stock in large models on the HK exchange,&#34; Zhipu AI, Biren Technology and Iluvatar CoreX from the &#34;Four Little Dragons of Domestic GPUs,&#34; optical communication leader InnoLight Technology, along with Seres, China Shenhua Energy, PetroChina, AMEC, Agricultural Bank of China, China Gold International Resources, GigaDevice, and other companies will intensively release their financial reports.
AVIC Chengdu Aircraft, Bank of China, BOC Hong Kong, China Eastern Airlines, China Everbright Bank, China Gold International Resources, China Southern Airlines, GigaDevice, Knowledge Graph Technology, Midea Group, Nike, PetroChina, Qinghai Salt Lake Industry, SF Holding, SPD Bank, Mindray, Tianshan Aluminum Group, and others will also release their results.
Regarding new stocks, Wind data shows that three new stocks will be issued next week, including one on the STAR Market, one on ChiNext, and one on the Beijing Stock Exchange, with a total issuance of approximately 185 million shares and an expected total fundraising of 3.551 billion yuan. Specifically, Saiying Electronic and GRINM Composite Materials will be issued on March 30; DapuStor will be issued on April 3.
List of some AH-share financial report disclosure dates:
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Geopolitically, global markets continue to monitor the Middle East situation closely as the G7 discusses releasing strategic oil reserves. Macroscopically, China's official March PMI and US March Non-Farm Employment will be released. Industrially, China's PV export tax rebates will be canceled starting April 1; semiconductor giants like Infineon and Texas Instruments are collectively raising prices, and passive component companies are also implementing bulk price hikes. Domestically, the earnings season peaks, with star companies like Zhipu AI, Biren Technology, and InnoLight Technology disclosing their results

- Upcoming significant financial events from March 30 to April 5 will focus on macroeconomic indicators and geopolitical tensions, including U.S. non-farm payroll data and China's official PMI.  
- The semiconductor industry is experiencing a price surge, with major companies like Texas Instruments and Infineon announcing price increases, reflecting a recovering supply chain.  
- The domestic earnings season peaks, featuring prominent firms like Zhiyuan and China Shenhua, which will guide future market directions.

Wallstreetcn

HSPC

Occidental Petroleum

Texas Instruments

United States Oil Fund LP

Invesco Semiconductors ETF

Us Brent Oil

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Direxion Semicon Bull 3X

VanEck Oil Refiners ETF

VG Energy

ChinaAMC Guozheng Semiconductor Chip ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

VanEck Oil Services ETF

VanEck Semiconductor ETF

iShares Semiconductor ETF

Guotai CES Semiconductor Chip Industry ETF

Global X Solar ETF

Pro Ultr Bloomberg Crude Oil

Guotai CSI Semiconductor Material Equipment Theme ETF

iShares US Oil & Gas Expl & Prod

ProShares Ultra Energy

Harvest SSE STAR Chip ETF

E Fund CSI Semiconductor Material & Equipment Thematic ETF

SPDR S&P Semicon

China Southern CSI Semiconductor Industry Custom ETF

SPDR O&G Ex & Prd

SPDR Energy Select

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

First Trust Nasdaq Food & Semicon

China Merchants CSI Semiconductor Industry ETF

iShares US Oil Equip & Svcs

Next Week's Key Schedule: Focus on Iran Conflict Developments, US Non-Farm Employment, China PMI