GMT EIGHT - OPPORTUNITIES IN CHINA

SHANGHAI PECHEM (00338): Provision for impairment of a total of 545 million yuan for the first half of 2026.

Shanghai Petroleum and Chemical Company Limited (00338) announced that in order to objectively reflect the companys financial condition and operating results for the first half of 2026, and in accordance with the relevant regulations such as the "Enterprise Accounting Standards," the company conducted impairment tests on related assets that may show signs of impairment as of June 30, 2026, based on the principle of prudence. The tests indicated that the company recognized a total impairment provision of 545 million yuan for the first half of 2026.

S.F. Holding (06936) achieved a total revenue of 26.368 billion yuan in July from its express logistics, supply chain, and international business, representing a year-on-year growth of 6.12%.

SF Holding (06936) announced that its revenue from express logistics, supply chain, and international business totaled RMB 26.368 billion in July 2026, representing a year-on-year increase of 6.12%.

JIAYUAN SER (01153) issues profit warning, expecting the interim profit attributable to shareholders to not exceed approximately 20 million yuan.

Jiayuan Services (01153) announced that the group expects the profit attributable to the company's owners for the six months ending June 30, 2026, to be no more than approximately RMB 20 million, while the profit attributable to the company's owners for the six months ending June 30, 2025, was approximately RMB 140 million. The decrease in profit is mainly attributed to a one-time reversal of approximately RMB 109 million due to unauthorized guarantee losses.

CRRC Corporation (01766) will distribute a mid-term dividend of 0.11 yuan per share on October 15.

China CNR (01766) announced that it will distribute a midterm dividend of 0.11 yuan per share for the six months ending June 30, 2026, on October 15, 2026.

PACIFIC LEGEND (08547) plans to increase its authorized share capital to 300 million Hong Kong dollars.

PACIFIC LEGEND (08547) announced that the board of directors intends to seek shareholder approval at a special general meeting through an ordinary resolution to increase its registered capital from HKD 100 million (divided into 1 billion shares) to HKD 300 million (divided into 3 billion shares) by the creation of an additional 2 billion unissued shares.

DRAGON MINING (01712) reported its interim results, with a net profit of 63.809 million Australian dollars, an increase of 402.7% year-on-year.

Dragon Resources (01712) announced its performance for the six months ending June 30, 2026, reporting customer revenue of AUD 107 million, a year-on-year increase of 97.1%; net profit of AUD 63.809 million, a year-on-year increase of 402.7%; and basic earnings per share of 33.63 Australian cents.

JIACHEN HOLDING (01937) Issues Earnings Upgrade, Anticipates Mid-term Shareholder Net Profit of Approximately 2 to 3 Million Yuan, Turning from Loss to Profit Year-on-Year.

Jiachen Holdings (01937) announced that the group's operating performance is expected to turn from a loss to a profit, with a net loss of approximately RMB 1.1 million for the six months ending June 30, 2025, changing to a net profit of approximately RMB 2 million to RMB 3 million for the six months ending June 30, 2026 (the current period).

JIUYUAN GENE (02566) announced its interim results, with a net profit attributable to shareholders of the parent company amounting to 91.269 million yuan, representing a year-on-year increase of 1.21%.

JiuYuan Gene (02566) announced its mid-term results for 2026, with revenue of approximately 631 million yuan, a year-on-year decrease of 1.23%; net profit attributable to the shareholders of the parent company was 91.27 million yuan, a year-on-year increase of 1.21%; earnings per share were 0.38 yuan.

Trump suspended the 50% new tariffs on Canadian goods, and the Prime Minister stated that "key work is still ongoing."

U.S. President Trump announced late Tuesday that he would suspend the new 50% tariff on Canadian goods, which was set to take effect at midnight, for three days, stating that the two countries had reached an agreement.

Chongqing Sokon Industry Group Stock (09927) released its interim results, with revenue of 57.419 billion yuan and operational resilience remaining strong.

Ceres (09927) announced its interim results for the six months ended June 30, 2026, reporting revenue of 57.419 billion yuan, a decrease of 7.9% year-on-year; the loss attributable to the owners of the company for the period was 1.717 billion yuan, compared to a profit of 2.941 billion yuan in the same period last year; basic loss per share was 0.99 yuan.

CRRC Corporation (01766) announced its interim results, with a net profit attributable to shareholders of approximately 7.99 billion yuan, a year-on-year increase of 10.28%.

China CNR (01766) announced its mid-term results for 2026, with operating revenue of approximately 131.682 billion yuan, an increase of 9.96% year-on-year; net profit attributable to shareholders of the listed company was approximately 7.99 billion yuan, up 10.28% year-on-year; basic earnings per share were 0.28 yuan, and it is proposed to distribute a cash dividend of 0.11 yuan per share (before tax).

The spokesperson for the Ministry of Justice answered questions from reporters regarding the inappropriate extraterritorial jurisdiction arising from the EU's investigation into foreign subsidies.

We hope that the European side will immediately correct its erroneous practices, stop the abuse of the "foreign subsidies" investigation tool, and create a fair, just, and predictable market environment for companies investing and operating in Europe. If the European side insists on going its own way, the Chinese side will firmly take countermeasures in accordance with the law.

XINYI ENERGY (03868) will distribute an interim dividend of HKD 0.021 per share on September 30.

Xinyi Energy (03868) announced that the company will distribute an interim dividend of HKD 0.021 per share for the six months ended June 30, 2026, on September 30, 2026.

The Ministry of Justice issued a notice regarding the improper extraterritorial jurisdiction constituted by the European Union's foreign subsidy investigation practices.

On August 19, the Ministry of Justice issued an announcement regarding the inappropriate extraterritorial jurisdiction of practices related to the European Union's investigation of foreign subsidies.

Sun Hung Kai Co. (00086) announced its interim results, with shareholders' profit attributable declining to HKD 688 million, a decrease of 22.4% compared to the same period last year.

Sun Hung Kai Properties (00086) announced its results for the six months ended June 30, 2026, with total revenue of HKD 24.95 billion, a year-on-year decrease of 10.9%; profit attributable to shareholders reached HKD 688 million, down 22.4% year-on-year; basic earnings per share were HKD 0.352, and an interim dividend of HKD 0.13 per share is proposed.

ESPRIT HOLDINGS (00330) expects a mid-term net loss attributable to shareholders of approximately HK$88 million.

Sijie Global (00330) announced that it expects the group to record an unaudited loss attributable to shareholders of approximately HKD 88 million during the interim period, compared to the previously stated unaudited loss attributable to shareholders of approximately HKD 39 million. This change is attributed to an impairment loss of approximately HKD 49 million recognized for trademarks based on the latest external valuation.

SUN HUNG KAI CO (00086) will distribute an interim dividend of HK$0.13 per share on September 21.

New World Development Company Limited (00086) announced that it will distribute an interim dividend of HK$0.13 per share for the six months ended June 30, 2026, on September 21, 2026.

HKEX: Since the optimization measures for U.S. dollar gold futures were introduced, market trading and physical delivery activities have remained active.

Today, the Hong Kong Stock Exchange completed the physical delivery of 145 kilograms of U.S. dollar gold futures, surpassing the previous historical record of 63 kilograms set in December 2018.

HKEX's Chan Yit-Ting: The extension of trading hours for the spot market requires more thorough consideration.

The Hong Kong Stock Exchange has been seeking to enhance the convenience for investors to participate in the market, believing that the primary focus should be on extending trading hours for the derivatives market.

NANSHAN AL INTL (02610) announced its interim results, with shareholders' profit attributable to them at $62.7 million, a decrease of 74.8% compared to the previous year.

Nanshan Aluminum International (02610) announced its interim results for the six months ended June 30, 2026, reporting revenue of 415 million USD, a year-on-year decrease of 30.5%; profit attributable to shareholders of 62.7 million USD, a year-on-year decrease of 74.8%; basic earnings per share of 0.1 USD, and intends to distribute an interim dividend of 0.16 HKD per share.

TYSAN HOLDINGS (00687) will distribute an interim dividend of HKD 0.03 per share on September 25th.

Taisheng Group (00687) announced that it will distribute an interim dividend of HKD 0.03 per share for the six months ended June 30, 2026, on September 25, 2026.

NANSHAN AL INTL (02610) will distribute an interim dividend of HKD 0.16 per share on October 13.

Nanshan Aluminum International (02610) announced that the company will distribute an interim dividend of HKD 0.16 per share for the six months ended June 30, 2026, on October 13, 2026.

SISRAM MED (01696) announced its interim results, with the loss attributable to shareholders of the parent company amounting to $1.155 million, a shift from profit to loss compared to the same period last year.

Furuixi Medical Technology (01696) announced its interim results for 2026, with revenue of approximately $171.4 million, an increase of 3.6% year-on-year. The loss attributable to equity holders of the parent company was $1.155 million, a turnaround from profit to loss compared to the same period last year; the loss per share was 0.25 cents.

TYSAN HOLDINGS (00687) announced its interim results, with a net profit of HK$19.226 million, a decrease of 43.7% compared to the same period last year.

Taiseng Group (00687) announced its performance for the six months ending June 30, 2026, with revenue of HK$1.151 billion, maintaining stability; net profit of HK$19.226 million, a decrease of 43.7% year-on-year; basic earnings per share of HK$0.057, and a proposed interim dividend of HK$0.03 per share.

KINGSOFT (03888): Beijing Kingsoft Office Software, Inc (688111.SH) reported a net profit attributable to shareholders of approximately 2.518 billion yuan in the first half of the year, a year-on-year increase of approximately 2.37 times.

Kingsoft Software (03888) announced the results of Kingsoft Office (688111.SH) for the first half of 2026, with operating revenue of approximately 3.313 billion yuan, an increase of 24.69% year-on-year; net profit attributable to shareholders of the listed company was approximately 2.518 billion yuan, a year-on-year increase of about 2.37 times; basic earnings per share were 5.44 yuan.

RENHENG ENT (03628) issued a profit warning, expecting a mid-term profit of approximately HKD 6 million to about HKD 8 million.

Rin Heng Industrial Holdings (03628) announced that the Group expects to record a profit of approximately HKD 6 million to HKD 8 million for the six months ending June 30, 2026 (the relevant period), compared to a profit of approximately HKD 13.1 million for the six months ending June 30, 2025 (the corresponding period). It is anticipated that the Group's net profit during the relevant period will decline compared to the corresponding period. This decline is mainly due to intense price competition among bidders and clients' budget reductions, which have led to a significant decrease in contract selling prices during the relevant period, resulting in a substantial reduction in revenue generated from blending tobacco flavors and fragrance machinery products that have a relatively high gross profit margin (which accounts for a significant proportion of total revenue).

SINOPHARM (01099): China National Medicines Corporation (600511.SH) reported a net profit attributable to the parent company of 880 million yuan in the first half of the year, a decrease of 7.25% compared to the same period last year.

China National Pharmaceutical Group Corporation (01099) announced that its subsidiary, China National Pharmaceutical Industry Co., Ltd. (China National Pharmaceutical, (600511.SH)), achieved an operating revenue of 26.728 billion yuan in the first half of 2026, an increase of 4.27% year-on-year; the net profit attributable to shareholders of the listed company was 880 million yuan, a decrease of 7.25% year-on-year; the basic earnings per share were 1.1660 yuan.

China Railway Construction Corporation (01186) has recently won a major project worth 44.31 billion yuan.

China Railway Construction Corporation (01186) announced that recently, the company has won 13 significant projects with a single contract value exceeding 1.5 billion, totaling 44.31 billion yuan.

Guolian Minsheng (01456) plans to invest 100 million to 200 million yuan to buy back A-shares.

Guolian Minsheng (01456) announced that in order to maintain the company's value and protect shareholders' rights, and to promote the company's healthy, stable, and sustainable development, based on confidence in the development prospects of China's capital market and recognition of the company's stock value, combined with the company's development strategy, operational status, and financial condition, the company plans to use its own funds to repurchase its A-shares. The total amount for the planned repurchase will have a lower limit of RMB 100 million (inclusive) and an upper limit of RMB 200 million (inclusive).

KINGSOFT (03888) released its interim results, reporting a net profit attributable to shareholders of 1.639 billion yuan, a year-on-year increase of 100.81%.

Kingsoft Corporation (03888) released its performance results for the three months and six months ended June 30, 2026. In the second quarter of 2026, the group achieved revenue of 2.51 billion yuan, an increase of 8.8% year-on-year; the profit attributable to equity holders of the parent company was 548 million yuan, up 2.92% year-on-year; and the earnings per share were 0.4 yuan.

YIXIN (02858) half-year report demonstrates resilience: revenue increased by 13% to 6.2 billion; adjusted net profit rose by 31% to 850 million.

In the first half of the year, Yixin achieved total revenue of approximately 6.2 billion yuan, a year-on-year increase of 13.3%; net profit was approximately 704 million yuan, an increase of 28.2% compared to the same period last year; adjusted net profit grew by 31.2% year-on-year to around 850 million yuan.

Zhuzhou CRRC Times Electric (03898) will distribute a mid-term dividend of HKD 0.53168 per share on October 16.

China Electric (03898) announced that it will distribute an interim dividend of HK$0.53168 per share on October 16, 2026.

CH TIANBAO GP (01427) announced its mid-term results, reporting a net loss of 64.728 million yuan, an increase of 73.56% year-on-year.

China Tianbao Group (01427) announced its interim results for 2026, with revenue of approximately 369 million yuan, a year-on-year decrease of 55.44%; a net loss of 64.728 million yuan, a year-on-year increase of 73.56%; and a loss per share of 0.074 yuan.

UNITED LAB (03933) issues a profit warning, expecting a net profit of approximately 340 million yuan for the interim period.

Fosun Pharmaceutical (03933) announced that it expects the groups net profit for the six months ending June 30, 2026, to be approximately RMB 340 million, compared to a net profit of approximately RMB 1.893 billion for the six months ending June 30, 2025.

QINGDA ORIENTAL (08115) issues a profit warning, expecting that the loss attributable to company owners for the first half of the year will increase significantly to about 480 million to 490 million yuan.

Qingda Dongfang (08115) announced that it is expected the group will report a loss attributable to shareholders of approximately 480 to 490 million yuan in the first half of 2026, while the loss attributable to shareholders for the same period in 2025 was around 400,000 yuan. The significant increase in expected losses is primarily due to the recognition of goodwill impairment losses.

YUEXIUTRANSPORT (01052) will distribute an interim dividend of HKD 0.12 per share on November 27.

Yuexiu Transport Infrastructure (01052) announced that it will distribute a mid-term dividend of HKD 0.12 per share on November 27, 2026.

XTALPI (02228) announced its interim results, with revenue of 394 million yuan and R&D expenses increasing by 66.05% year-on-year.

JingTai Holdings (02228) announced its interim results for the six months ended June 30, 2026, with revenue of 394 million yuan (RMB); research and development expenses of 368 million yuan, an increase of 66.05% year-on-year; a loss attributable to shareholders of 252 million yuan; and a basic loss per share of 6 cents.

DONGGUANG CHEM (01702) issues a positive profit alert, expecting a year-on-year increase of approximately 55% in net profit for the first half of the year.

Dongguang Chemical (01702) announced that it expects the group's net profit for the six months ending June 30, 2026, to grow by approximately 55% compared to the same period in 2025. The anticipated growth in net profit is primarily due to the combined effects of the following factors: (i) an increase in revenue leading to higher overall gross profit and gross profit margin, and (ii) gains from hedging in urea futures.

CISI FIN (06058) 2026 Interim Report Review: Revenue and net profit achieve high double-digit growth, showcasing resilience in adverse conditions.

Xingzheng International (06058) has delivered a highly impressive semi-annual report.

JINYUAN HCHEM (02502) issues a positive profit alert, expecting a net profit of approximately 41.6 million yuan for the interim period, turning losses into profits compared to the same period last year.

Jinyuan Hydrogen (02502) announced that the group expects to achieve a profit of approximately RMB 41.6 million for the six months ending June 30, 2026 (corresponding period in 2025: a loss of approximately RMB 9.3 million).

Zhenro PPT (06158) issued a profit warning, expecting the mid-term loss attributable to shareholders to widen to between 8.2 billion and 8.4 billion yuan compared to the same period last year.

Zhengrong Real Estate (06158) announced that based on a preliminary assessment of the group's unaudited management accounts and other currently available information for the six months ending June 30, 2026 (the "period"), it is expected that the group will incur a loss attributable to equity holders of the parent company ranging from RMB 8.2 billion to RMB 8.4 billion (the loss attributable to equity holders of the parent company for the six months ending June 30, 2025 (the "same period") was approximately RMB 6.463 billion).

Zhenro Services (06958) issued a profit warning, expecting that the loss attributable to the owners of the parent company for the first half of the year will not exceed 60 million yuan.

Zhengrong Service (06958) announced that the group expects to incur a loss attributable to shareholders of the parent company not exceeding RMB 60 million in the first half of 2026, compared to a loss of approximately RMB 7.5 million in the same period of 2025. Due to the impact of the market environment, the expected performance deterioration is primarily attributed to (1) a decrease in the collection rate of accounts receivable, which has resulted in an increase in the provisions for impairment of accounts receivable, and (2) a decline in revenue from community value-added services and non-owner value-added services.

K2 F&B (02108) issued a profit warning, expecting a consolidated loss attributable to shareholders of approximately 800,000 Singapore dollars for the mid-term, reversing from profit to loss year-on-year.

K2 F&B (02108) announced that the group expects to record a consolidated loss attributable to shareholders of approximately S$800,000 for the six months ending June 30, 2026 (the reporting period), compared to a consolidated profit attributable to shareholders of approximately S$200,000 for the same period in 2025.

C FIN SERVICES (00605) granted a new loan of 30 million yuan.

China Financial Investment Management (00605) announced that on August 19, 2026, the company's controlled non-wholly-owned subsidiary Chengdu Huixin Microloan (as the lender) entered into a new loan agreement with customer FA (as the borrower), under which Chengdu Huixin Microloan agrees to grant the borrower a new loan with a principal amount of RMB 30 million, for a term of six months, with an annual interest rate of 16%.

Northbound funds | The Northbound capital saw a net sell of 10.621 billion. OpenAI "explosion" leads to further sell-off of AI hardware stocks by Northbound capital.

On August 19, the Hong Kong stock market saw a net sell-off of 10.621 billion Hong Kong dollars from northbound capital. Among this, the Shanghai-Hong Kong Stock Connect had a net sell-off of 3.31 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect recorded a net sell-off of 7.311 billion Hong Kong dollars.

CHANJET (01588) will distribute a mid-term dividend of 0.14 yuan per share on October 29.

Changjie Tong (01588) announced that the company will distribute an interim dividend of 0.14 yuan per share for the six months ending June 30, 2026, on October 29, 2026.

Yankuang Energy Group (01171) announced the interim performance of Yancoal Australia, with a post-tax profit of AU$17 million, a year-on-year decrease of 89.57%.

Yancoal Australia Limited (01171) announced its semi-annual performance for 2026, with total revenue of AUD 3.024 billion, an increase of 13.05% year-on-year; after-tax profit was AUD 17 million, a decrease of 89.57% year-on-year.

HANVEY GROUP (08219) issues a positive profit alert, expecting that the interim profit attributable to shareholders will not be less than approximately HKD 1.5 million.

Hengwei Group Holdings (08219) announced that the Group expects to record a profit attributable to the owners of the company of at least approximately HKD 1.5 million for the six months ending June 30, 2026, compared to a profit of approximately HKD 1.06 million for the six months ending June 30, 2025. The Board believes that the significant improvement in the Group's financial performance is mainly due to (including) (i) the growth being driven primarily by increased sales; and (ii) a reduction in interest expenses after repaying the Group's bank borrowings.

CHANJET (01588) released its interim results, with net profit attributable to shareholders reaching 41.613 million yuan, an increase of 24.17% year-on-year.

Changjitong (01588) announced its interim results for the six months ended June 30, 2026, with revenue of RMB 548 million, representing a year-on-year increase of 13.46%; profit attributable to equity holders of the parent company was RMB 41.613 million, reflecting a year-on-year increase of 24.17%; earnings per share were 13 cents; and an interim dividend of RMB 0.14 per share is proposed.

BEIJING ENT (00392): Yanjing Huichuan's interim profit attributable to shareholders is 48.77 million yuan, an increase of 23.26% compared to the previous year.

Beijing Enterprises Holdings Limited (00392) announced that its subsidiary Fujian Yanjing Huichuan Brewery Co., Ltd. (Yanjing Huichuan) achieved operating revenue of 369 million yuan for the six months ending June 30, 2026, an increase of 5.11% year-on-year; the profit attributable to shareholders of Yanjing Huichuan was 48.77 million yuan, representing a year-on-year increase of 23.26%.

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Yuncong Technology: The company is deeply involved in the national standardized pilot project "Shanghai Virtual-Real Integration Embodied Intelligence Training Ground" and the "Humanoid Robot Qilin Training Ground" project.

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