Key pre-market updates for Monday: In a rare show of unity, tech rivals Elon Musk and Sam Altman have thrown their support behind Anthropic CEO Dario Amodei's call for a global slowdown in AI development, marking a notable shift in industry sentiment with negative overtones. In a blog post over the weekend, Amodei urged the global AI sector to voluntarily decelerate, citing that the pace of frontier model advancement has far outstripped human comprehension and control capabilities. Within hours of the post, Musk took to X to declare "Dario is right," quickly followed by OpenAI CEO Sam Altman who concurred with Amodei's assessment regarding the need to moderate the pace of cutting-edge advancement.

Adding to market jitters, crude oil prices surged more than 3% at the start of Asian trading as geopolitical risks intensified. Last Thursday, a drone launched from Iraq struck Saudi Arabia's east-west oil pipeline, forcing the Saudi government to shut down this critical crude artery. Compounding concerns, a diplomatic meeting originally scheduled for Monday in Oman between Iran and Gulf Arab states to discuss the situation in the Strait of Hormuz was abruptly postponed following the pipeline attack. The security situation around Hormuz remains precarious, with another tanker reported under attack on Sunday, amplifying supply disruption fears in the energy markets.

On a more constructive note, China's State Council convened a meeting late Friday evening highlighting that computing power networks serve as the foundational support for AI development. Officials emphasized the need for rational distribution and orderly regulation while further improving computing infrastructure, actively advancing research, development, and application of key technologies and equipment, and constructing a multi-layered networked computing system. The council called for promoting coordination between computing power and electricity, integrating computing with networks, strengthening resource monitoring and scheduling, expanding backbone fiber optic network construction, and accelerating projects involving green power direct connection and source-grid-load-storage integration.

In market structure developments, multiple securities firms have begun tightening access for individual investors to programmatic trading systems, implementing requirements outlined in the "Securities Company Trading System Information Access Management Standards (Trial)" jointly issued by two industry associations on August 28. The document explicitly prohibits individual investors from conducting programmatic trading through "quasi-external connections," including file interaction services. Industry projections indicate the first phase of these rectification efforts will be completed by November this year.

Investment calendar: A State Council Information Office press conference is scheduled to introduce initiatives related to Healthy China investment opportunities. Investment wisdom from Jeremy Siegel's "The Future for Investors" reminds us that when stock holders grow pessimistic about the market, those holding dividend-paying stocks become the big winners.

Institutional perspectives: CITIC Securities suggests that only after interest rate cuts materialize will room for operational flexibility be released in Q4, recommending maintaining a structural allocation combining AI with energy-focused investments. Zhongtai Securities believes the current correction has likely entered its final phase and advises utilizing volatility to increase positions in technology manufacturing and non-ferrous metals. Shenwan Hongyuan recommends patience during this period of uncertain market direction while monitoring opportunities in storage and high-end CCL sectors.

Positive catalysts preview: The National Data Administration convened a symposium on embodied intelligence, expressing active support for enterprises to increase data investment. Debon Securities notes the humanoid robotics industry is developing at remarkable speed, leveraging national coordination, central enterprise leadership, and coordinated industrial chain development to accelerate scenario implementation and intelligent advancement. The firm recommends focusing on domestic embodied intelligence platforms, competitively positioned components, and equipment-related investment opportunities.

In market news, Sungrow Power Supply has raised prices by 5%-15% across its photovoltaic inverters, energy storage converters, and energy storage systems. CICC holds a positive outlook on medium-to-long-term growth in the energy storage market, though near-term volatility will reshape competitive dynamics. Overseas revenue remains a critical earnings pillar for storage companies, and the firm anticipates international expansion to drive income and profitability improvements next year.

On the demand side, China's token consumption is experiencing explosive growth, with projections indicating annual consumption will reach one quintillion this year. Orient Securities observes that the "Token Economy" is accelerating its formation, with domestic token factories entering a rapid development phase. Companies possessing computing resources, inference optimization capabilities, and cloud service capacity will actively position themselves in this space, while "Token Operators" are expected to emerge progressively.

Positive announcements: Bailiheng Pharmaceutical reported the first subject enrollment in the Phase III clinical trial for injectable T-Bren in neoadjuvant breast cancer treatment. Sany Heavy Industry completed its initial share buyback of 623,900 A-shares with a total transaction value of 12.3087 million yuan. Honglu Steel Structure signed a steel structure material price-locking cooperation agreement valued at 375 million yuan.

Negative announcements: Jin'an Guoji clarified that information regarding its products being incorporated into NVIDIA's supply chain certification is false. Chaoye Electronics, which saw three limit-up sessions in five days, also denied reports claiming "Chaoye Electronics' high-frequency boards have passed NVIDIA certification." Leidian Weili announced that shareholder Chen Fashu, holding more than 5% of shares, intends to reduce holdings by up to 2.9956% of company shares.

Overseas markets: With international oil prices retreating, the three major indices all closed approximately 1% higher. Tech giants trended upward with Apple rising 1.75%. The Philadelphia Semiconductor Index gained 1.81%, while storage concept stocks mostly declined with Seagate Technology falling 3.73%. Optical communications concepts strengthened with Coherent advancing 4.16%. The Nasdaq Golden Dragon China Index rose 0.4%.