--- title: "Zhitong Hong Kong Stock Early Knowledge | Export controls on superhard materials, rare earths, and lithium batteries suspended; FIH expects significant improvement in financial performance" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/265039096.md" description: "Export controls on superhard materials, rare earths, lithium batteries, and other items have been suspended. The Ministry of Commerce and the General Administration of Customs announced that the relevant export controls will be suspended from today until November 10, 2026. FIH expects significant improvement in financial performance. The U.S. stock market faces valuation challenges, and the CEO of DBS Bank warns of potential turmoil in the future" datetime: "2025-11-09T23:15:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/265039096.md) - [en](https://longbridge.com/en/news/265039096.md) - [zh-HK](https://longbridge.com/zh-HK/news/265039096.md) --- > 支持的语言: [English](https://longbridge.com/en/news/265039096.md) | [繁體中文](https://longbridge.com/zh-HK/news/265039096.md) # Zhitong Hong Kong Stock Early Knowledge | Export controls on superhard materials, rare earths, and lithium batteries suspended; FIH expects significant improvement in financial performance **\[Today's Headlines\]** **Two departments release a major announcement: Export controls on superhard materials, rare earths, lithium batteries, etc. suspended** According to the Ministry of Commerce website, approved from today until November 10, 2026, the Ministry of Commerce and the General Administration of Customs announced the suspension of implementation of announcements No. 55, 56, 57, 58 of 2025, and announcements No. 61, 62 of the Ministry of Commerce. It is worth mentioning that announcements No. 55, 56, 57, and 58 are export controls imposed by the two departments on superhard materials, certain rare earth equipment and raw materials, lithium batteries and artificial graphite anode materials, and certain medium and heavy rare earths. **\[Market Outlook\]** **DBS: Current valuation levels of U.S. listed companies are challenging** As of the close of trading overnight, the Dow Jones Industrial Average rose 74.8 points from the previous trading day, closing at 46,987.1 points, an increase of 0.16%; the S&P 500 index rose 8.48 points, closing at 6,728.8 points, an increase of 0.13%; the Nasdaq Composite Index fell 49.45 points, closing at 23,004.54 points, a decrease of 0.21%, with a maximum intraday decline of over 2%. Last week, the Dow fell a cumulative 1.21%, the Nasdaq fell a cumulative 3.04%, and the S&P 500 index fell a cumulative 1.63%, with all three major indices ending a three-week streak of gains. Large tech stocks had mixed performances, with Tesla down over 3%, Google down more than 2%, and Nvidia at one point down over 5%. Most popular Chinese concept stocks fell, with XPeng down over 6%, Pony.ai and ZaiDing Pharmaceutical down over 5%. The Hang Seng Index ADR rose, closing at 26,288.46 points, up 46.63 or 0.18% compared to the Hong Kong close. According to the latest news, DBS Bank CEO Piyush Gupta warned that turmoil is expected in the U.S. market in the future. The high valuation issue of artificial intelligence (AI) stocks in the U.S. stock market is particularly concerning, especially for the so-called "Seven Giants of Technology" in the U.S. Prior to this, institutions such as Goldman Sachs, Morgan Stanley, and Capital Group also warned that the current valuation levels of U.S. listed companies are challenging. **\[Hot Topics Ahead\]** **Federal Reserve Vice Chairman: Policy is nearing neutral level, future rate cuts should be more cautious** On Friday (November 7), local time, Federal Reserve Vice Chairman Jefferson stated that given that monetary policy is nearing a neutral level, the Federal Reserve should remain cautious in its upcoming policy actions. Last week, the Federal Reserve announced a 25 basis point reduction in the target range for the federal funds rate to 3.75% to 4.00%, in line with market expectations. **State Council issues document: Accelerate scenario cultivation and openness to promote large-scale application of new scenarios** Recently, the General Office of the State Council issued the "Implementation Opinions on Accelerating Scenario Cultivation and Openness to Promote Large-scale Application of New Scenarios," deploying relevant work. The "Opinions" focus on creating a number of new application scenarios in new fields and new tracks, building a number of new business application scenarios for industrial transformation and upgrading, launching a number of application scenarios in various industry fields, innovating comprehensive application scenarios for social governance services, and enriching application scenarios in the field of people's livelihood, proposing 22 categories of key areas for scenario cultivation and openness **Ministry of Commerce: The second clause of the "Announcement on Strengthening Export Control of Relevant Dual-Use Items to the United States" is suspended** The Ministry of Commerce released the latest announcement on Sunday, stating that, with approval, from now until November 27, 2026, the second clause of Announcement No. 46 of 2024 ("Announcement on Strengthening Export Control of Relevant Dual-Use Items to the United States") is suspended. This involves the rare earth sector. **National Energy Administration issues guidance on promoting the integration of coal and new energy development** By the end of the 14th Five-Year Plan, significant achievements in the integration of coal and new energy development are expected, with the development model of photovoltaic and wind power industries in coal mining areas basically maturing, a substantial increase in electricity substitution and new energy penetration rates, and the construction of a number of clean and low-carbon mining areas, further enhancing the green development momentum of the coal industry. **FIH (02038) expects annual operating revenue to increase by about 15% year-on-year and significant improvement in financial performance** According to Zhitong Finance APP, FIH (02038) announced that for the nine-month period ending September 30, 2025, the group achieved operating revenue and other operating income of USD 5.229 billion, an increase of 25.88% year-on-year; during the period, profit was USD 42.087 million, compared to a loss of USD 26.211 million in the same period last year. **Boyaa Interactive (00434) expects profit attributable to owners for the first nine months to increase by about 105% to 115% year-on-year** According to Zhitong Finance APP, Boyaa Interactive (00434) announced that the expected profit attributable to owners for the first nine months of 2025 is expected to increase by about 105% to 115% year-on-year (for the nine months ending September 30, 2024: approximately HKD 234 million (after restatement)), mainly due to an increase in the fair value growth of digital assets compared to the same period in 2024. Excluding the impact of non-operating one-off factors such as fair value changes of financial assets like digital assets and equity investment partnerships, the expected profit attributable to owners for the first nine months of 2025 is expected to decrease by about 30% to 35% year-on-year, mainly due to a reduction in bank deposits from purchasing cryptocurrencies, leading to a decrease in expected interest income from deposits and an increase in expected income tax expenses year-on-year. **\[New Stock Listing\]** Leisure Comfort (02698): Hong Kong public offering subscribed 1,813.77 times, expected to list on November 10 Zhongwei New Materials (02579) will be open for subscription from November 7 to November 12, expected to list on November 17 Baili Tianheng (02615) will be open for subscription from November 7 to November 12, expected to list on November 17 **\[Stock Highlights\]** **Chongqing Machinery and Electric (02722): Core supplier of backup power for data centers** The current issue facing the artificial intelligence industry is not an excess of computing power, but a lack of sufficient electricity to support all GPU operations. Zheshang Securities pointed out that diesel generator sets are essential backup power sources for the construction of data center power systems. With the acceleration of global AI computing center construction, the demand for high-performance and high-reliability diesel generator sets is experiencing explosive growth Shenwan Hongyuan released a research report stating that according to Cummins, the global data center generator market is expected to grow from USD 6 billion in 2023 to USD 9 billion in 2026 and USD 12 billion in 2030. The construction wave of overseas AI data centers (AIDC) started earlier and is much larger than that in China, with a demand for backup power that is several times greater than the rigid existence in the domestic market. It is reported that in October 1995, Chongqing Machinery and Electric Co., Ltd. and Cummins jointly established Chongqing Cummins Engine Co., Ltd. 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