China’s A-Shares Hit Historic Milestone as Market Value Tops CNY 100 Trillion

 

 

According to China Securities Journal, as of August 15, more than 80% of A-shares (4,406 stocks) had posted gains this year. Among them, 1,100 stocks rose by over 50%, and 310 more than doubled in value.

 

 

The strongest performers came from pharmaceuticals and biotech (57 stocks) and machinery (54 stocks), while autos, chemicals, and computer-related shares each contributed more than 20 stocks to the list. Power equipment, electronics, defense, and telecoms all saw at least 10 stocks double in price.

 

 

The top ten gainers year-to-date included Shangwei New Materials, Shutaishen, ST Yushun, Shenghong Technology, Great Wall Military Industry, Guangshengtang, United Chemical, Feilinggeer, ST Yazhen, and Beifang Changlong — each surging more than 340%.

 

 

 

 

On August 18, the Shanghai Composite Index broke through 3,731.69 points, marking a ten-year high. At midday, the total market capitalization of A-shares surpassed CNY 100 trillion (approx. USD 13.8 trillion) for the first time in history — a symbolic milestone for China’s equity markets.

 

 

U.S. Chip Shipments to China Found Embedded With Secret Trackers

 

 

On August 13, Reuters dropped a bombshell: the U.S. government has quietly embedded location-tracking devices in some shipments of advanced AI chips believed to be headed for China.

 

 

According to two informed sources, the trackers — applied only to consignments under investigation — are designed to identify when and where sensitive chips are diverted in violation of export controls. The U.S. Commerce Department’s Bureau of Industry and Security, which enforces such rules, is said to be involved, with potential participation from agencies like the FBI.

 

 

Supply-chain insiders told Reuters that shipments from Dell and Super Micro, containing Nvidia and AMD chips, had been fitted with such trackers. In one case in 2024, a batch of Dell servers was reportedly shipped with conspicuous trackers on the outside of boxes, as well as smaller, more discreet devices hidden inside the packaging — and even within the servers themselves.

 

 

 

 

Chinese commentary framed the revelations as yet another attempt by Washington to stifle the country’s technological rise by tightening the leash on AI hardware.

 

 

For now, Washington is silent. U.S. agencies including Homeland Security Investigations, the FBI, and the Commerce Department all declined to comment. The companies implicated — Dell, Super Micro, Nvidia, and AMD — either claimed no knowledge or offered no response at all.

 

 

Unitree Dominates on Track, but 75% of Robots Fall at Obstacles

 

 

The first World Humanoid Robot Conference wrapped up on August 17 with track-and-field-style competitions drawing the spotlight. In the 1,500 meters, 400 meters, and 4×100 meters, Unitree robots clinched gold. For the 100-meter sprint, however, the top spot went to Tiangong Ultra, developed by Beijing Humanoid Robot Innovation Center, which adopted an autonomous navigation strategy.

 

 

“We wanted to break the stereotype that robots are just big toys,” said Tang Jian of the Tiangong Ultra team. “This autonomous navigation is achieved through the robot’s reliance on lidar, surround-view cameras and algorithms. It’s somewhat similar to intelligent driving, but the robot needs to perform line-following within the track. However, due to the more complex environment and the involvement of over 30 joint controls, the difficulty is still higher.”

 

 

Unitree founder Wang Xingxing noted that their H1 model averaged 3.8 meters per second in the 1,500 meters. Remote controls were used to “squeeze out” maximum speed performance.

 

 

 

 

While the games showcased robots sprinting, jumping, and racing, experts stressed that the real challenge lies outside the track. To move from “demonstration” to “application,” humanoids must make breakthroughs in algorithm generalization, perception, and adaptive learning.

 

 

The most revealing test may have been the 100-meter obstacle race. Beijing Lingyi Technology, a Unitree subsidiary, finished in 38.36 seconds, far ahead of second-place PNDbotics at over seven minutes. None of the other six entrants crossed the finish line, yielding a 75% failure rate. The result underscores the industry’s pain points: fragile algorithms, unstable execution, and difficulties in coordinating perception with movement.

 

 

Evergrande to Be Delisted After 16 Years on Hong Kong Stock Exchange

 

 

On the evening of August 12, China Evergrande Group announced that the Listing Committee of the Hong Kong Stock Exchange had decided to delist the company under Rule 6.01A of the Listing Rules. The last trading day for Evergrande shares will be August 22, 2025, with delisting scheduled for 9 a.m. on August 25. Evergrande confirmed it will not seek a review of the decision.

 

 

The move marks the end of Evergrande’s 16-year listing history. At its peak in 2017, the developer’s market capitalization reached HK$439 billion, briefly making founder Xu Jiayin the richest man in China. By the time of delisting, its market value had fallen to just HK$2.15 billion — a decline of 99.5%.

 

 

Evergrande’s financial troubles escalated in January 2024, when it was unable to repay a large volume of debt and was ordered into liquidation. Trading of its shares was suspended the same day. Under Hong Kong Stock Exchange rules, companies suspended for more than 18 months without meeting re-listing requirements are subject to mandatory delisting. Evergrande’s suspension reached the 18-month threshold on July 28, 2025.

 

 

According to the liquidator, Evergrande owes approximately HK$350 billion, with only HK$27 billion in assets available for sale — most of them real estate projects and equity stakes, considered difficult to liquidate.

 

 

Evergrande’s delisting comes amid broader sector pressures. Over the past several years, 167 companies have been forcibly removed from the Hong Kong market, nearly 30% of them real estate developers.

 

 

Swatch Apologizes for Controversial Ad Featuring “Slanted Eyes” Gesture

 

 

Swiss watchmaker Swatch issued an apology on the evening of August 16 after facing backlash over a promotional image featuring a male model making an exaggerated “slanted eyes” expression — a gesture widely recognized as a racial stereotype offensive to East Asians.

 

 

 

 

Deliberately pulling up the corners of one’s eyes to create a “slanted” or “upturned” effect has long been internationally acknowledged as a discriminatory act, originating from 19th-century European and American caricatures of East Asians and later popularized through characters such as “Fu Manchu.”

 

 

The ad triggered strong criticism across Chinese social media, where netizens questioned how a photo with such imagery cleared the company’s review process and was published.

 

 

Swatch Group, one of the world’s largest watchmakers and distributor of brands including Longines, Tissot, Omega, and Breguet, responded in a statement:

 

 

“We have taken note of the recent concerns regarding the portrayal of a model in images for the Swatch ESSENTIALS Collection. We treat this matter with the utmost importance and have immediately removed all related materials worldwide. We sincerely apologize for any distress or misunderstanding this may have caused.”

 

 

As of August 16, the controversial images had been removed from Swatch China’s official website.