GMT EIGHT - OPPORTUNITIES IN CHINA

MMG (01208) announced its interim results, with profit attributable to equity holders increasing by 164% year-on-year to US$897 million.

China Minmetals Resources (01208) announced its mid-year results for 2026, with revenue increasing by 61% year-on-year to $4.54 billion. Profit after tax rose by 141% year-on-year to $1.366 billion. Profit attributable to equity holders increased by 164% year-on-year to $899 million, with a basic earnings per share of 7.36 cents. The net cash flow from operating activities grew by 89%, reaching a record approximately $2.234 billion.

The "version answer" for the stock market is out! The combination of "AI computing power bottleneck + high-quality cash flow" crushes everything, with funds flocking to the balanced European market.

This year, European stock markets have surged, defying predictions that the Iran war would plunge the region into stagflation. The Stoxx Europe 600 Index has risen, with the benchmark stock indices of Germany, Italy, and France each reaching historic highs.

UNITED LAB (03933): UBT48128 has received clinical trial approval from the FDA in the United States.

Federation Pharmaceuticals (03933) announced that its wholly-owned subsidiary, Federation Biotech (Zhuhai Hengqin) Co., Ltd., has received approval from the U.S. Food and Drug Administration (FDA) for the Investigational New Drug (IND) application for its self-developed Class 1 innovative drug UBT48128 tablets for the indications of overweight or obesity and type 2 diabetes. The IND numbers are 182060 and 182061, respectively.

KWG GROUP (01813) reported a pre-sale amount of 203 million yuan in July, a decrease of 67.0% year-on-year.

Evergrande Group (01813) announced that in July 2026, the group's pre-sale volume along with its joint ventures and associates amounted to RMB 203 million, a decrease of 67.0% compared to the same period last year. The pre-sale construction area of the group and its joint ventures and associates was approximately 9,900 square meters, representing a decline of 52.9% compared to the same period last year.

After experiencing multiple negative factors, the stock price has halved in two months. Has Legend Biotech Corp. Sponsored ADR (LEGN.US) discovered a valuation trap or a golden opportunity?

I originally thought a "40cm" big bullish line was the beginning of a new valuation rebound, but unexpectedly, it marked the end of the previous round of stock price recovery. After taking 2 months to pull the stock price back to a high of $37.50, Legend Biotech (LEGN.US) then spent another 2 months bringing the stock price back down below $20, completely giving back all the gains made in April and May.

AINNOVATION (02121) expects to announce a profit reminder, predicting an adjusted net profit of 2-4 million yuan for the mid-term, turning losses into profits compared to the same period last year.

Innovative Intelligence (02121) announced that due to increased market demand and improvements in the company's platform capabilities and product standardization, operational efficiency is optimized. The Group expects to record an adjusted net profit (not in accordance with International Financial Reporting Standards) of RMB 2-4 million for the six-month period ending June 30, 2026, a significant improvement compared to the adjusted net loss of RMB 6.681 million recorded in the same period of 2025. The company will adhere to a strategy of sustained pragmatism and long-term development, actively respond to market challenges, strive to help customers reduce costs and increase efficiency, and continuously enhance its technical products and business sustainability.

C FIN SERVICES (00605) granted a loan of 35 million yuan.

China Financial Investment Management (00605) announced that on August 11, 2026, its wholly-owned subsidiary Shenzhen Lingda Microloan (as the lender) entered into a loan agreement with clients GJ and GK (as the borrowers). According to the agreement, Shenzhen Lingda Microloan agrees to grant the borrowers a loan amount of RMB 35 million, with a term of six months and an annual interest rate of 14.4%.

From the first fixed point to strategic resonance: PATEO (02889) secures its first fully domestically produced integrated cabin and cockpit fixed-point order, positioning itself at the forefront of AI innovation.

On August 11, Botai Car Union (02889) announced that the company has recently received a project designation notice from a leading domestic new energy vehicle manufacturer, and will serve as the supplier for the client's brand new vehicle platform, using the Horizon StarSky chip solution.

MOKINGRAN (02585) announces a profit warning, expecting that the profit attributable to shareholders for the first half of the year will be approximately 18 million to 21 million yuan, marking a turnaround from losses to profits compared to the same period last year.

Mingjinyuan (02585) announced that the group expects to achieve revenue of approximately 9.158 billion to 11.193 billion yuan in the first half of 2026, a year-on-year decrease of about 12% to an increase of about 7%; overseas revenue is expected to be approximately 230 million to 281 million yuan, a year-on-year increase of about 59% to 94%; net profit is estimated to be around 26 million to 32 million yuan, and profit attributable to the companys owners during the period is expected to be approximately 18 million to 21 million yuan, with both achieving a turnaround from losses to profits year-on-year.

PATEO (02889) has secured project designation from a leading domestic new energy vehicle company.

Botai Chelian (02889) announced that the company has recently received a project confirmation notice from a leading domestic new energy vehicle manufacturer (the client), becoming the supplier for the clients brand new vehicle platform. This project employs the Horizon Starry Sky chip solution, which is the industry's first high-end AI cockpit chip that is entirely domestically produced, marking the company's progression from a leader in intelligent cockpit technology to a cross-domain leader in "cockpit-driving integration," achieving the commercial implementation of its AI strategy.

Northbound funds | Northbound trading recorded a net sell of 1.376 billion; CITIC SEC (06030) increases funding for international business; Northbound trading increased holdings by over 500 million Hong Kong dollars throughout the day.

On August 11, in the Hong Kong stock market, Northbound trading recorded a net selling of 1.376 billion Hong Kong dollars. Among them, the Shanghai-Hong Kong Stock Connect had a net buying of 2.004 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect experienced a net selling of 3.381 billion Hong Kong dollars.

CKLIFE SCIENCES (00775) announced its interim results, reporting a loss attributable to shareholders of HK$28.73 million, a year-on-year decrease of 80.95%.

Changjiang Life Science Technology (00775) announced its interim results for 2026, with revenue of HK$2.716 billion, representing a year-on-year increase of 4.22%; the loss attributable to shareholders was HK$28.73 million, a year-on-year decrease of 80.95%; loss per share was HK$0.003.

The southbound capital had a net sell of 1.376 billion yuan today. In the Hong Kong Stock Connect (Shanghai), Alibaba-W and Zhaoyi Innovation saw net sell amounts of 116 million Hong Kong dollars and 75 million Hong Kong dollars, respectively; Tencent Holdings ranked first in net buying, with an amount of 427 million Hong Kong dollars. In the Hong Kong Stock Connect (Shenzhen), Tencent Holdings and Jian Tao Laminated Board recorded net sells of 489 million Hong Kong dollars and 445 million Hong Kong dollars, respectively; CITIC Securities topped the net buying list with an amount of 556 million Hong Kong dollars.

TME-SW (01698) reported a net profit attributable to equity holders under non-International Financial Reporting Standards for the second quarter of 2.69 billion yuan, an increase of 4.4% year-on-year.

Tencent Music - SW (01698) announced its second-quarter results for 2026, with total revenue of RMB 8.93 billion (USD 1.32 billion), representing a year-on-year growth of 5.8%. The net profit attributable to equity holders of the company was RMB 2.47 billion, an increase of 2.57% compared to the previous year. The diluted earnings per American Depositary Share were RMB 1.57. The net profit attributable to equity holders of the company, excluding international financial reporting standards, was RMB 2.69 billion, a year-on-year increase of 4.4%.

VMEP HOLDINGS (00422) announced its interim results, reporting a post-tax loss of 1.4231 million USD, a year-on-year shift from profit to loss.

Vietnam Manufacturing and Processing Export (00422) announced its performance for the six months ended June 30, 2026. During the period, the group achieved revenue of 37.7937 million USD, a year-on-year decrease of 18.9%; it reported a net loss of 1.4231 million USD, reversing from profit to loss compared to the previous year; the basic loss per share was 0.00157 USD.

New Stock News | Helian Group Resubmits Application to Hong Kong Stock Exchange

According to the Hong Kong Stock Exchange's disclosure on August 11, Hangzhou Relong Group Co., Ltd. (abbreviated as Relong Group) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CICC as its sponsor. The company had previously submitted an application to the Hong Kong Stock Exchange on February 9, 2026.

KINGDEE INT'L (00268) continued to lead the market in the first half of the year, with profit attributable to equity holders of approximately 54.497 million yuan, turning from loss to profit year-on-year.

Kingdee International (00268) announced its interim results for the six months ending June 30, 2026, with revenue of approximately RMB 3.625 billion, a year-on-year increase of about 13.6%. The profit attributable to equity holders of the company for the period is approximately RMB 54.497 million, compared to a loss of approximately RMB 97.738 million in the same period last year. The basic earnings per share attributable to equity holders of the company is approximately RMB 0.0155.

DA YU FIN (01073) has issued a profit warning, expecting that the net profit after tax for the first half of the year will be approximately HKD 32 million, an increase compared to the same period last year.

Daiyu Financial (01073) announced that it expects a net profit after tax of approximately HK$32 million for the six months ending June 30, 2026 (the reporting period), compared to a net profit after tax of approximately HK$15 million for the same period ending June 30, 2025. The increase in net profit after tax is mainly attributable to an increase in investment income from perpetual capital securities.

NEWTON RES (01231) issued a profit warning, expecting a mid-term net loss of approximately 1.1 million USD, an increase compared to the same period last year.

New Mining Resources (01231) announced that the Group expects to incur a net loss of approximately USD 1.1 million for the six-month period ending June 30, 2026 (the current period), compared to a net loss of approximately USD 400,000 for the six-month period ending June 30, 2025 (the same period last year).

WEI YUAN HLDG (01343) announces a positive earnings forecast, expecting a mid-term net profit of approximately SGD 3.1 million to SGD 3.5 million.

Wei Yuen Holdings (01343) announced that, based on a preliminary assessment of the Group's unaudited consolidated management accounts for the six months ending June 30, 2026, the Group expects to record a consolidated net profit of approximately SGD 3.1 million to SGD 3.5 million for the six months ending June 30, 2026, compared to a net profit of approximately SGD 300,000 for the corresponding period in 2025.

Shanghai has issued the "14th Five-Year Plan for the Development of Software and Information Services Industry in Shanghai." By 2030, Shanghai aims to transform its software and information services industry into a "power source" for economic growth, a "main battleground" for AI-enabled applications, and a "fortress" for global competition, achieving the following key objectives: further expanding the total scale of the industry, with a target industry scale of 4 trillion yuan and an added value exceeding 1.1 trillion yuan. The quality and efficiency of the industry will be further enhanced, with a number of breakthrough achievements in key areas such as artificial intelligence and critical software, increasing the number of enterprises with revenues exceeding 10 billion yuan to 35. This will lead to the formation of a number of high-quality enterprises with predominant ecological leadership in the industry and emerging enterprises with potential leadership. The industry development structure will be further optimized, with a higher proportion of high-end software, digital content, and intelligent services, cultivating and forming several industry bases and regional industry clusters with international competitive advantages.

In the first seven months, KONG SUN HOLD (00295) reported that CECEP Solar Energy's total power generation was approximately 165,410 megawatt-hours, a year-on-year decrease of 12.19%.

Jiangshan Holdings (00295) announced that, based on the companys current preliminary operational statistics, the total electricity generation of the solar power stations owned by the group from January to July 2026 was approximately 165,410 megawatt-hours (MWh), a year-on-year decrease of 12.19%. The total installed capacity of the group as of July 31, 2026, was 300 megawatts.

Hong Kong Census and Statistics Department: The current trend index for the revenue of small and medium-sized enterprises in July stands at 43.8, indicating a cautious business atmosphere.

The small and medium-sized enterprises' current trend index for business revenue decreased from 44.0 in the contraction zone in June 2026 to 43.8 in July 2026.

IMPACT THERAP-B (07630) is expected to incur a mid-term loss of approximately 81.7 million to 99.9 million yuan, a year-on-year decrease of about 22% to 37%.

InPax Pharmaceuticals-B (07630) announced that, based on the board's preliminary assessment of the group's unaudited consolidated management accounts for the six months ended June 30, 2026 (the "Relevant Period") and the information currently available to the board, the group expects to achieve during the Relevant Period: revenue of approximately RMB 94.7 million to RMB 116 million, an increase of approximately 276% to 359% compared to the approximately RMB 25.2 million for the six months ended June 30, 2025 (the "Comparative Period"); a loss of approximately RMB 81.7 million to RMB 99.9 million during the Relevant Period, a decrease of approximately 37% to 22% compared to the approximately RMB 129 million for the Comparative Period.

SY HOLDINGS (06069) will distribute a final dividend of HKD 0.4047 per share on August 17.

Shengye (06069) announced that it will distribute a final dividend of RMB 0.4047 per share for the year ending December 31, 2025, on August 17, 2026.

SIM TECH (02000) issued a profit warning, expecting a mid-term loss attributable to shareholders of approximately HKD 5 million to HKD 20 million, turning from profit to loss year-on-year.

Chengxun Technology (02000) announced that the Group expects to record a loss attributable to the company's owners of approximately HKD 5 million to HKD 20 million in the first half of 2026 (for the six months ended June 30, 2025: a profit attributable to the company's owners of approximately HKD 8.8 million).

DATRONIX HOLD (00889) issues a profit warning, expecting a mid-term loss attributable to shareholders of more than HKD 1 million.

Lianda Technology Holdings (00889) announced that it expects the group will record a loss attributable to shareholders of more than HKD 1 million for the six months ending June 30, 2026, compared to a net loss of HKD 6 million for the corresponding period in 2025.

CHINA LIT (00772) released its interim results, with revenue of 3.531 billion yuan, an increase of 10.68% year-on-year. The revenue from IP operation business saw a year-on-year growth of 41.9%.

Yuewen Group (00772) announced its interim results for the six months ended June 30, 2026, reporting revenue of RMB 3.531 billion, an increase of 10.68% year-on-year; gross profit of RMB 1.792 billion, an increase of 11.15% year-on-year; profit attributable to equity holders of the company of RMB 135 million; and earnings per share of RMB 0.13.

HKELECTRIC-SS (02638) announced its interim results, with profit attributable to unit holders of 1.003 billion Hong Kong dollars, a year-on-year increase of 0.2%.

Hongkong Electric Holdings - SS (02638) announced its interim results for 2026, with revenue of HK$5.939 billion, a year-on-year increase of 6.68%; profit attributable to holders of consolidated shares was HK$1.003 billion, a year-on-year increase of 0.2%; earnings per share were HK$0.1135. The interim distribution is HK$0.1594 per consolidated share.

TINGYI (00322) released its interim results, with a profit attributable to shareholders of 2.433 billion yuan, an increase of 7.1% compared to the same period last year.

Master Kong Holdings (00322) announced its interim results for the six months ending June 30, 2026. The group achieved revenue of 40.545 billion yuan, a year-on-year increase of 1.1%; the profit attributable to shareholders was 2.433 billion yuan, a year-on-year increase of 7.1%; and the basic earnings per share were 43.16 cents.

MING FAI INT'L (03828) issued a profit warning, expecting that the interim profit attributable to shareholders will decrease year-on-year to not less than HKD 34 million.

Minghui International (03828) announced that, based on a preliminary assessment of the Group's most recent unaudited consolidated management accounts, the Group expects to achieve a profit attributable to the owners of the Company of not less than HKD 34 million for the six months ending June 30, 2026 (for the six months ending June 30, 2025: approximately HKD 50.9 million).

SIM TECH (02000) reported revenues of approximately HKD 208 million for the first seven months, a decrease of 9.3% year-on-year.

Morning News Technology (02000) announced that the group's revenue in July 2026 was HKD 17.6 million, a decrease of 58.5% compared to the previous month. Revenue for the first seven months of 2026 was approximately HKD 208 million, representing a year-on-year decrease of 9.3%. The revenue from its main business, smart terminal ODM (Original Design Manufacturer), was roughly similar to that of the same period last year, while the overall revenue drop was primarily due to the cessation of the in-vehicle smart products business since January 2026.

SHOUHUI GROUP (02621) issues a profit warning, expecting mid-term net profit to be between 64 million and 84 million yuan.

Shouhui Group (02621) announced that it expects to record revenue of between RMB 617 million and RMB 637 million for the six months ending June 30, 2026, which represents an increase of between RMB 62 million and RMB 82 million compared to the revenue recorded for the six months ending June 30, 2025.

HKELECTRIC-SS (02638) will distribute a mid-term dividend of HK$0.1594 per share on September 8.

HKT Power - SS (02638) announced that the company will distribute an interim dividend of HKD 0.1594 per share on September 8, 2026.

KELFRED (01134) issues a profit warning, expecting a net loss of approximately HKD 12.1 million for the interim period, a year-on-year increase.

Hengfa Optics (01134) announced that, based on a preliminary review of the unaudited consolidated management accounts for the six months ending June 30, 2026 (the "Reporting Period") and the information currently available to the Board, the Company expects to incur a net loss of approximately HKD 12.1 million for the Reporting Period, compared to a net loss of approximately HKD 4.7 million for the six months ending June 30, 2025 (the "Previous Reporting Period").

CGN NEW ENERGY (01811) issued a profit warning, expecting a year-on-year decline of approximately 49.8% in net profit attributable to equity shareholders for the first half of the year.

CGN New Energy (01811) announced that the group expects to achieve a profit attributable to equity holders of approximately 49.8% lower year-on-year in the first half of 2026.

SLD GROUP (02262) announced its interim results, with a profit attributable to shareholders of HK$2.324 million, an increase of 46.16% year-on-year.

Liang Zhitian Design Group (02262) announced its interim results for the six months ended June 30, 2026, reporting revenues of HKD 187 million, a year-on-year decrease of 4.06%; profit attributable to shareholders of the company was HKD 2.324 million, a year-on-year increase of 46.16%; earnings per share were HKD 0.002.

Brent crude oil has exceeded $90 per barrel, rising 2.61% during the day.

The Vice Governor of the Bank of Korea expressed a hawkish stance before stepping down: Rising wages in the semiconductor industry have become a new driver of inflation, and the likelihood of further interest rate hikes is "very high."

The Senior Deputy Governor of the Bank of Korea, Ryu Sang-dae, stated on Tuesday that the likelihood of further increases in the benchmark interest rate by the central bank is "very high," unless there are extreme shocks. He particularly noted that with the expansion of the semiconductor industry, rising wages in the information technology sector are translating into persistent upward pressure on prices.

In the first seven months of this year, Hong Kong's primary residential property transactions reached 12,300, setting a new seven-year high, with leftover inventory accounting for 60% of the sales volume.

From January to July this year, Hong Kong recorded a total of 12,347 transactions of first-hand residential properties, a year-on-year increase of 9.3%, marking the highest figure for the same period in nearly seven years.

Tariff "boomerang" severely impacts finances! CBO confirms: Trump's tariffs create a $200 billion gap, and the U.S. deficit is expected to soar to $2.1 trillion by 2026.

The U.S. federal government originally relied on the revenue boost from tariffs, but this has been diminishing at an unexpectedly rapid pace. The Congressional Budget Office (CBO) has acknowledged that the sharp decline in tariff revenue has created a $200 billion funding gap in this fiscal year.

Brent crude oil rose 2% during the day, currently priced at $89.49 per barrel.

Spot gold fell below $4,360 per ounce, down 0.69% for the day.

A-share closing review | Shanghai Composite Index fell 0.82%, ChiNext Index slightly rose; MLCC and film concepts active.

On August 11, the three major indices of A-shares showed mixed performance, with the Shanghai Composite Index oscillating downwards, while the ChiNext Index managed to close slightly higher against the trend.

Closing Review: The Shanghai Composite Index fluctuated and fell by 0.82%, with the non-ferrous metal sector collectively correcting.

The three major A-share indexes experienced mixed results today. As of the close, the Shanghai Composite Index fell by 0.82%, the Shenzhen Component Index dropped by 0.4%, while the ChiNext Index rose by 0.34%. The Beijing Stock Exchange 50 declined by 0.86%, and the Science and Technology Innovation 50 Index fell by 1.63%. The total market turnover was 23,356 billion yuan, a decrease of 2,031 billion yuan compared to the previous day, with over 3,700 stocks in the market declining. In terms of sector performance, film and television cinema, MLCC concept, oil and gas exploration and services, pharmaceutical commerce, and reducer sectors saw the largest gains; precious metals, minor metals, energy metals, industrial metals, and military equipment sectors were also among the top performers. On the trading front, the film and television cinema sector remained strong throughout the day, with Huazhi Digital Media, Beijing Cultural Investment, and Wengtou Holdings hitting the daily limit, while Ru Yi Films, Shanghai Movies, and Hengdian Film and Television were among the top gainers. The MLCC concept sector saw a rise but then retreated, with Double Star New Material, Jiemai Technology, and Guofeng New Material hitting their daily limits, and Dali Cap rising over 13%. Fenghua High-Tech, Yunzhuang Technology, and Dongcai Technology also had notable gains. The pharmaceutical commerce sector was active, with Kaikai Industrial, First Pharmaceutical, and Laobaixing hitting the daily limit, while Yixintang, Yifeng Pharmacy, and Dasanlin were among the top gainers. The precious metals sector continued to decline, with Chifeng Gold, Sichuan Gold, and Zijin Mining leading the losses. The industrial metals sector also performed poorly, with Western Mining, Luoyang Molybdenum, and Shengda Resources posting significant declines.

Commodity futures closing

Low-sulfur fuel oil has increased consecutively by 6.82%, Shanghai crude oil has risen consecutively by 5.96%, fuel oil has surged consecutively by 5.81%, coking coal has risen consecutively by 5.41%, methanol has increased consecutively by 4.61%, and propylene has grown consecutively by 4.21%.

Inflation woes remain unresolved! The Reserve Bank of Australia has maintained interest rates as scheduled, and the door to further rate hikes is not yet closed.

The Reserve Bank of Australia maintained the cash rate at 4.35% on Tuesday, marking the second consecutive time it has kept rates unchanged, in line with market expectations.

Japan and South Korea stock markets close.

The South Korean KOSPI index closed up 0.73% at 6345.53 points. The Japanese stock market is closed today.

New stock news | Kunlun Tech (300418.SZ) is planning to list on the Hong Kong stock market, with a focus on advancing AGI and AIGC businesses in the future.

In order to accelerate the company's internationalization strategy and overseas business development, enhance the company's overseas financing capability, and further improve the company's overall competitiveness, the company intends to issue overseas listed shares (H shares) and list them on the Hong Kong Stock Exchange in accordance with the company's overall development strategy and operational needs.

The Chicago Mercantile Exchange will launch E-Nano Stock Index Futures on August 24, expanding investment channels for retail investors in four major benchmark indices.

This batch of newly launched ultra-mini contracts is set at 1/10 the scale of micro E-mini futures, making it easier for institutional and retail investors to optimize their exposure to the main stock benchmarks in the market.

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SEA LTD ADR pre-market stock price rose by 5% after the company reported second-quarter revenue that exceeded expectations.

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