Market Overview
On 26 June 2026, the Chinese equity market experienced a broad decline across all major indices.
- The Shanghai Composite fell by 2.14 %.
- The Shenzhen Component Index dropped by 3.04 %.
- The ChiNext (创业板) index and the STAR Market Index both fell by 3.72 % and 2.52 %, respectively.
During the session, approximately 4,600 shares were in the red, with 73 shares hitting the daily limit up and 4,676 shares falling. The total trading volume for the day was 2.43 trillion CNY, up 33 billion CNY from the previous day.
Sector‑Specific Impact
Telecommunications Equipment
The telecommunications equipment sector led the market’s downward swing, with a decline exceeding 7 % during the session. Key names that experienced significant drops were:
| Stock | Movement |
|---|---|
| 中天科技 | –6 % |
| 永鼎股份 | –5 % |
| 亨通光电 | –5 % |
| 通鼎互联 | –5 % |
| 烽火通信 | –4 % |
The sector’s weakness was reinforced by broader concerns over the cash‑flow impact of high‑margin AI‑hardware producers across the technology chain.
Optical Fibre and Glass Substrate
Conversely, the optical fibre and glass‑substrate sub‑sector displayed a muted rebound. Shares such as 光电股份 recorded a limit‑up, while other optical‑fibre‑related names saw moderate gains. However, the overall market sentiment remained bearish toward telecom‑equipment stocks.
Other Notable Movements
- CPO‑related stocks (e.g., 新易盛, 仕佳光子) fell by more than 10 %.
- Green‑energy and photolithography concepts received limited upside, with a handful of limit‑up stocks but no sustained rally.
Jiangsu Etern Co., Ltd.
Jiangsu Etern Co., Ltd. (Shanghai Stock Exchange: 96010000000 CNY market capitalization) is a manufacturer of telecommunication electrical cables, optical cables, copper wires and related products. As of 25 June 2026:
- Closing price: 65.71 CNY
- 52‑week high: 73.97 CNY
- 52‑week low: 7.93 CNY
- Price‑to‑earnings ratio: 939.89
The company’s valuation reflects the prevailing volatility in the communications‑equipment sector, where recent sell‑offs have pressured earnings multiples across the industry.
Liquidity and Funding
In the broader market environment:
- Two‑financing balance on 24 June stood at 3.02 trillion CNY.
- Net financing inflows into the electronics sector were 107.60 billion CNY, the highest among the 31 industry categories.
- Individual stocks that received significant net financing include 永鼎股份 and 中际旭创, each with inflows exceeding 1 billion CNY.
These liquidity movements suggest that, despite the day’s downtrend, certain sub‑sectors—particularly those linked to high‑technology and semiconductor supply chains—continue to attract institutional capital.
The information presented is derived solely from the cited sources and reflects the market conditions observed on 26 June 2026.
