GMT EIGHT - OPPORTUNITIES IN CHINA

WINOX (06838) issues a profit warning, expecting a mid-term loss of HKD 45 million to HKD 50 million.

Yongli Shi (06838) announced that the board expects the Group to record a loss ranging from HKD 45 million to HKD 50 million for the six months ended June 30, 2026 (the period). The loss for this period is primarily attributed to: (1) a decrease in revenue due to sluggish demand; (2) a decline in overall gross profit margin due to intense market competition; and (3) provisions for severance payments and other employee claims in accordance with the streamlined manpower plan.

YUZHOU GROUP (01628) reported a cumulative sales amount of 3.243 billion yuan for the first seven months.

Yuzhou Group (01628) announced that the contract sales amount for July 2026 was RMB 399 million, with a sales area of 29,700 square meters and an average sales price of RMB 13,800 per square meter; among these, the sales amount in exchange for construction costs was RMB 58 million, with a sales area of 5,751 square meters and an average sales price of RMB 10,137 per square meter.

DONGWU CEMENT (00695) issued a profit warning, expecting a mid-term loss of approximately HKD 15.978 million, an increase of about 23.2% year-on-year.

Eastern Wu Cement (00695) announced that the Group expects its revenue for the six months ending June 30, 2026 (the Period) to decrease to approximately HKD 52.965 million (for the six months ending June 30, 2025: revenue of approximately HKD 119 million), representing a decrease of about 55.4%; meanwhile, the loss for the Period is expected to increase to approximately HKD 15.978 million (for the six months ending June 30, 2025: loss of approximately HKD 12.966 million), which is an increase of about 23.2%. The decrease in revenue and increase in loss are mainly attributed to the further aggravation of the imbalance between supply and demand in the domestic cement industry in the first half of the year, along with the continued weak demand in the downstream market, the traditional peak season not meeting expectations, as well as industry overcapacity, intensified market competition, and a low-price competitive environment.

CONCORD NE(00182) expects a profit attributable to equity holders of approximately 90 million to 110 million yuan for the first half of the year.

Xiehe New Energy (00182) announced that the group expects to achieve a profit attributable to equity holders of approximately 90 million to 110 million yuan in the first half of 2026, compared to a profit of about 292 million yuan in the same period last year. The decline in expected profit is mainly due to the dual impact of grid absorption limitations and climate fluctuations, which led to a year-on-year decrease in electricity generation. Additionally, the deepening of market-oriented trading resulted in a decline in the average comprehensive electricity price, leading to reduced revenue and profit from power generation operations.

SIS INT'L (00529): SiS Thai's net profit attributable to shareholders for the first half of the year is 526 million Thai Baht, an increase of 33.71% year-on-year.

SIS INT'L (00529) announced the performance of its subsidiary SiS Distribution (Thailand) Public Company Limited (SiS Thai) for the six months ending June 30, 2026, with a total revenue of 15.785 billion Thai Baht, an increase of 10.57% year-on-year; the net profit attributable to shareholders of SiS Thai was 526 million Thai Baht, an increase of 33.71% year-on-year.

Northbound funds | Northbound funds recorded a net buy of 2.021 billion yuan. The commercialization of large models is reaching a turning point. Northbound funds increased their holdings in MINIMAX (00100) by over 1 billion Hong Kong dollars.

On August 10, the Hong Kong stock market saw a net purchase of 2.021 billion Hong Kong dollars by northbound trading. Among them, the Shanghai-Hong Kong Stock Connect recorded a net purchase of 2.796 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect saw a net sale of 776 million Hong Kong dollars.

SINGAMAS CONT (00716) plans to sell 50.68% of the registered capital of Shengshi Logistics for 36.32 million yuan.

Victory Lion Holdings (00716) announced that on August 10, 2026 (after trading hours), the company entered into an agreement with Haifeng Logistics, pursuant to which the company agrees to sell and Haifeng Logistics agrees to acquire the sales rights (representing 50.68% of the registered capital of Victory Lion Logistics, beneficially owned and registered in the companys name prior to the completion of the transaction), for a consideration of approximately RMB 36.32 million, and Haifeng Logistics agrees to inject new funds of approximately RMB 16.7 million into Victory Lion Logistics.

Mingliang Holdings (08152) issues a positive earnings forecast, expecting to achieve a post-tax profit of no less than HKD 4.5 million in the interim, reversing losses from the same period last year.

Ming Liang Holdings (08152) announced that it is estimated that the Group will achieve not less than HKD 4.5 million in after-tax profit for the six months ending June 30, 2026 (the current period), compared to a loss of approximately HKD 3.2 million for the same period ending June 30, 2025 (the previous period). The Board believes that the anticipated performance this year, turning from a loss in the previous period to a profit in the current period, is primarily due to strong sales in overseas markets, which drove revenue and gross profit to increase by over 200%.

MAOYE INT'L (00848) issued a profit warning, expecting a net loss of approximately 120 million to 180 million yuan for the first half of the year, turning from profit to loss compared to the previous year.

Maoye International (00848) announced that the group expects to incur a net loss of approximately 120 million to 180 million yuan in the first half of 2026, compared to a net profit of approximately 11.92 million yuan in the first half of 2025. Excluding the impact of impairment losses from fair value changes of investment properties of about 125 million and goodwill impairment losses of about 45 million, the operating net loss for the first half of 2026 is expected to be between approximately 8 million and 38 million yuan.

CIDI (03881) First Half Report: Revenue Soars 97%, Siasun Robot & Automation Business Grows from Zero to One

On August 10, Xidi Intelligent Driving (03881) officially disclosed its mid-term performance report for 2026.

Today, northbound funds had a net purchase of 2.021 billion yuan. In the Shanghai-Hong Kong Stock Connect, Zhipu was net bought for 833 million Hong Kong dollars and 560 million Hong Kong dollars; SMIC had the highest net sell amount, totaling 139 million Hong Kong dollars. In the Shenzhen-Hong Kong Stock Connect, Genesis Biotechnology and Xiaomi Group-W were net bought for 472 million Hong Kong dollars and 195 million Hong Kong dollars, respectively; SMIC again had the highest net sell amount, totaling 313 million Hong Kong dollars.

LAUNCH TECH (02488) will distribute an interim dividend of 0.29 yuan per share on September 18.

Yuanzheng Technology (02488) announced that the company will distribute an interim dividend of 0.29 yuan per share for the six months ending on June 30, 2026, on September 18, 2026.

KOALA FIN GP (08226) subscribed for 65.71 million shares of Minerva Group.

The Tree Kangaroo Financial Group (08226) announced that on July 17, 2026 (after trading hours), the subscriber, Jie Cheng Investment Limited (a wholly-owned subsidiary of the company), agreed to subscribe through a placement agent for approximately HKD 2.497 million (excluding transaction costs) to acquire 65.71 million shares of Minerva Group, at a price of HKD 0.038 per share. The subscription is expected to be completed on or before July 30, 2026.

HUTCHTEL HK (00215) will distribute a mid-term dividend of HK$0.0228 per share on September 16.

Hutchison Telecommunications Hong Kong (00215) announced that it will distribute an interim dividend of HKD 0.0228 per share for the six months ending June 30, 2026, on September 16, 2026.

HUTCHTEL HK (00215) released its interim results, with shareholders' profit attributable amounting to HKD 11 million, a year-on-year increase of 83.33%.

Hutchison Telecommunications Hong Kong (00215) announced its performance for the six months ending June 30, 2026. During this period, the group achieved total revenue of HKD 2.846 billion, an increase of 32% year-on-year; the profit attributable to shareholders was HKD 11 million, an increase of 83.33% year-on-year; basic earnings per share were HKD 0.23.

LAUNCH TECH (02488) released its interim results, with revenue of approximately 1.071 billion yuan, an increase of 9.1% year-on-year.

Yuan Zheng Technology (02488) released its mid-term results for 2026, reporting operating revenue of approximately 1.071 billion RMB, an increase of 9.1% year-on-year; net profit attributable to the owners of the parent company was approximately 175 million RMB; basic earnings per share were 0.426 RMB; and a mid-term dividend of 0.29 RMB per share was declared.

BINHAI INV (02886) subsidiary Qiyuan Smart Control Investment is constructing a distributed photovoltaic power generation project.

Binhai Investment (02886) announced that the companys non-wholly-owned subsidiary, Qiyuan Intelligent Control, has entered into agreements with the collective economic organization of Baibiao Village in Xinshi Town, Deqing County, and Deqing Xinhui Construction Development Co., Ltd. (collectively referred to as "the contracting parties") to invest in and construct a distributed photovoltaic power generation project (photovoltaic project), with a total expected capacity of 3.51 million watts (subject to actual installation).

CIDI (03881) reported a nearly doubled year-on-year mid-term revenue, with large-scale commercialization of unmanned mining trucks and significant orders signed.

XPeng Inc. (03881) announced its interim results for 2026, with revenue of approximately 804 million yuan, a year-on-year increase of 96.98%; among which, revenue from autonomous driving sales reached 784.5 million yuan, up 107.34% year-on-year; gross profit was around 212 million yuan, an increase of 104% year-on-year; and the gross profit margin rose from 17.1% for the six months ended June 30, 2025, to 26.4% for the same period in 2026. The improvement in performance was primarily driven by the group's continued enhancements in autonomous driving products and solutions, increased delivery capabilities, an expanded customer base, and heightened customer recognition, resulting in higher sales.

Shanghai: Improve and integrate service trade supporting the integrated circuit industry.

The Shanghai Municipal Commission of Commerce and six other departments have issued the "Construction Plan for the National Service Trade Innovation and Development Demonstration Zone in Shanghai." The plan proposes to improve and integrate services that support the integrated circuit industry. It aims to promote the fusion of "design + manufacturing" for integrated circuits, establishing an international joint design center in the Lin-Gang New Area. It also supports integrated circuit companies in achieving breakthroughs across the entire industry chain and nurturing a group of internationally competitive leading enterprises. In accordance with regulations, it allows for the verification of consumables used for import testing within the comprehensive bonded zone based on actual consumption, and implements bonded supervision for pilot projects of integrated circuit testing businesses conducted outside the comprehensive bonded zone with both ends located outside China. Additionally, it supports integrated circuit companies in carrying out international trade distribution services.

CDB INT'L INV (01062) issued a profit warning, expecting a mid-term loss attributable to shareholders to widen to approximately HKD 90.73 million compared to the same period last year.

Guokai International Investment (01062) announced that compared to a loss of approximately HKD 11.68 million attributable to the owners of the company for the six months ended June 30, 2025, the Group expects a loss of approximately HKD 90.73 million attributable to the owners of the company for the six months ending June 30, 2026.

YUE YUEN IND (00551) reported a net comprehensive operating income of approximately 603 million US dollars in July, a decrease of 9.7% year-on-year.

Yuyuan Group (00551) announced that in July 2026, the net comprehensive operating income of the company for the month (i.e., total sales minus sales discounts and sales returns) was $603 million, a year-on-year decrease of 9.7%.

B.DUCK SEMK (02250) issues a profit warning, expecting a roughly 50% increase in interim losses attributable to shareholders compared to the same period last year.

Little Yellow Duck Holdings (02250) announced that the Group expects the loss attributable to the companys equity holders for the six months ending June 30, 2026 (the current period) to increase by approximately 50% compared to the loss attributable to the companys equity holders for the six months ending June 30, 2025 (the corresponding period), which was approximately HKD 10.7 million.

WKK INTL (HOLD)(00532): Taiwan's Port Construction reported a net revenue of approximately NT$249 million in July, an increase of 8.5% year-on-year.

WKK INTL (HOLD) (00532) announced that the net operating income of Taiwan Port for July 2026 is approximately NT$249 million, an increase of 8.5% year-on-year. The net operating income for the first seven months of 2026 is approximately NT$1.014 billion, a decrease of 26.4% year-on-year.

APT ELECTRONICS (02551) issues a profit warning, expecting a mid-term net loss of 53 million to 58 million yuan, a turnaround from profit to loss compared to the same period last year.

JinkoSolar Holding Co., Ltd. (02551) announced that, based on a preliminary review of the unaudited consolidated management accounts of the group for the six months ended June 30, 2026 (the reporting period) and existing other information, the group expects to (1) achieve operating revenue of approximately RMB 1.075 billion to RMB 1.1 billion during the reporting period, a decrease of about 1% to 3% compared to the six months ended June 30, 2025; and (2) incur a net loss of approximately RMB 53 million to RMB 58 million (for the six months ended June 30, 2025: net profit was RMB 11.23 million).

POU SHENG INT'L (03813) reported a net operating revenue of approximately 994 million yuan in July, a year-on-year decline of 13.9%.

Baoshen International (03813) announced that in July 2026, the company's net operating income (equivalent to total sales minus sales discounts and returns) was approximately 994 million yuan, a decrease of 13.9% compared to the same month last year.

GREENLAND HK (00337) reported contract sales of approximately 5.094 billion yuan in the first seven months, representing a year-on-year increase of 46.72%.

Greenland Hong Kong (00337) announced that during the first seven months of 2026, the group's contracted sales were approximately 5.094 billion yuan, an increase of 46.72% year-on-year; the total area of contracted sales was approximately 626,900 square meters.

Xiangxing Technology (01732) issued a profit warning, expecting a net loss of approximately 5 million yuan in the first half of the year, a year-on-year turnaround from profit to loss.

Xiangxing Technology (01732) announced that the Group expects to incur a net loss of approximately RMB 5 million for the six months ending June 30, 2026, compared to a net profit of approximately RMB 6.9 million for the six months ending June 30, 2025.

ALTUS HLDGS (08149) reported revenue of HKD 7.3 million from enterprise financing, asset management, and other consulting services in the first quarter, an increase of 59.1% year-on-year.

Haode Holdings (08149) announced that in the first quarter of the fiscal year 2027 (ending March 31, 2027), the Group achieved revenues of HKD 7.3 million from corporate finance, asset management, and other consulting services, representing a 59.1% increase compared to HKD 4.6 million in the same period last year. The revenues from corporate finance and other consulting services are recognized when the related services are provided in accordance with the terms of the service agreements and/or when significant actions are completed, thereby reaching billing milestones. As a result, revenues for each period may fluctuate based on the billing milestones reached during that period.

Alibaba Cloud has pioneered a fully modular design architecture, reducing the data center delivery time to 100 days.

On August 10, based on its pioneering fully modular design architecture, Alibaba Cloud has reduced the delivery time of large AIDC data centers to 100 days, leading the world.

BINHAI TEDA (08348) issues a profit warning, expecting mid-term profit attributable to shareholders to decrease year-on-year to approximately 173,000 yuan.

Binhai Teda Logistics (08348) announced that the board expects the group to achieve approximately RMB 473 million in operating revenue and RMB 173,000 in profit attributable to company owners for the six-month period ending June 30, 2026, compared to approximately RMB 1.216 billion and RMB 969,000 for the same period in 2025.

51WORLD (06651) announced its performance for the first half of the year, with revenue of approximately 124 million yuan, an increase of about 129.8% year-on-year.

Wuyi Vision (06651) announced its interim results for the six months ended June 30, 2026, reporting revenue of 124 million yuan, an increase of 129.8% year-on-year; the loss attributable to shareholders of the company was 67.572 million yuan, a decrease of 25.84% year-on-year; loss per share was 0.16 yuan.

CAI CORP (00080) issues a profit warning, expecting the mid-term loss attributable to shareholders to increase year-on-year to approximately HKD 61 million.

CAI Holdings (00080) announced that based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ending June 30, 2026 (the "Period") and the information currently available to the Board, the Group expects to incur a loss attributable to the owners of the Company of approximately HKD 61 million for the Period, compared to an unaudited loss attributable to the owners of the Company of approximately HKD 4.3 million for the six months ending June 30, 2025.

PLOVER BAY TECH (01523) announced its interim results, with a net profit of $27.718 million, an increase of approximately 27.9% compared to the same period last year.

Hang Wan Technology (01523) announced its mid-term results for 2026, with revenue of approximately 74.596 million USD, an increase of about 18.5% year-on-year. Net profit is 27.718 million USD, reflecting a year-on-year increase of approximately 27.9%. The basic earnings per share are about 2.51 US cents, and the mid-term dividend is 15.66 HK cents per share.

CR CONSTRUCTION (01582) issues a profit warning, expecting a mid-term net profit decline of no less than 90% year-on-year.

China Lumena New Materials Corp (01582) announced that it expects the Groups net profit for the six months ending June 30, 2026, to decline by no less than 90%, while the Group's net profit for the six months ending June 30, 2025, was approximately HKD 25.9 million.

The "13th Five-Year Plan for Coal Industry Development" has been issued: By 2030, the proportion of intelligent coal mine production capacity will increase to 75%.

The National Development and Reform Commission and the National Energy Administration issued the "14th Five-Year Plan for Coal Industry Development."

Hong Kong stocks closed: The Hang Seng Index rose by 1.050%, and the Hang Seng Tech Index increased by 1.259%.

Lao Pu Gold rose by 12.614%, Chow Tai Fook rose by 6.628%, Hansoh Pharmaceutical rose by 5.103%, Nongfu Spring rose by 4.823%, Shenzhou International rose by 4.065%, Master Kong Holdings rose by 3.625%, Geely Automobile rose by 3.420%.

The UAE plans to invest billions of dollars in building a new LNG export terminal to seek to avoid the risks associated with the Strait of Hormuz.

Abu Dhabi National Oil Company's (ADNOC) natural gas subsidiary Adnoc Gas Plc is considering building a new liquefied natural gas (LNG) export facility outside the Strait of Hormuz.

Revenue decline, losses narrowing: The "active slimming" behind XIABUXIABU (00520) and the existing market game.

Under the shadow of consecutive years of losses, can Xiaobu Xiaobu successfully turn a profit by "making subtractions"?

Lumentum (LITE.US), "standing in the light," is about to announce its performance! Will the short selling of storage and the "" trading add more fuel to the fire?

As the number of GPUs, the scale of model parallelism, and the span of data centers continue to expand, network bandwidth, lasers, optical modules, and CPOs are becoming new marginal bottlenecks.

China Association of Automobile Manufacturers: In June, the export value of automotive parts reached 9.73 billion USD, a year-on-year increase of 19.0%.

From January to June 2026, the export value of automotive parts reached 51.03 billion USD, an increase of 7.6% compared to the same period last year.

Meridians: In July, the number and amount of newly approved mortgage insurance were 1,126 and HKD 6.276 billion, respectively.

In July 2026, the number and amount of new mortgage insurance plan loans approved were 1,126 and HKD 6.276 billion, representing a decrease of 319 loans (22.1%) and HKD 2.108 billion (25.1%) respectively.

A-share Market Review | Shanghai Composite Index Gains for Five Consecutive Days, Up 0.67%, Over 4,000 Stocks Rise in Value, with Pharmaceuticals, Military Industry, and Nonferrous Metals Leading the Gains

On August 10, the three major indices of the A-shares showed mixed performance. Driven by heavyweight sectors such as ground troop equipment, precious metals, and liquor, the Shanghai Composite Index rose for five consecutive days. The ChiNext Index, which at one point dropped over 2.5%, narrowed its losses by the close of trading.

The Meilinho Price Index fell slightly by 0.09% to 148.92 points this week, with the market focusing on the new housing segment.

The latest Hong Kong "Meyer Land Price Index" reports 148.92 points, with a slight weekly decline of 0.09%, maintaining a small fluctuation pattern; however, the index has risen by 0.14% compared to four weeks ago, and so far this year, it has increased by 10.55%.

Commodity futures closing

The shipping index for European futures has fallen continuously by 4.49%, silver has increased continuously by 3.34%, soda ash has increased continuously by 3.21%, lithium carbonate has increased continuously by 2.85%, and polysilicon has fallen continuously by 2.52%.

SK Hynix responds to rumors about "considering the sale of its Chongqing factory": No decisions have been made yet.

On August 10, SK Hynix issued a statement regarding market rumors about the sale of its factory in Chongqing, China, which has a scale of 4 trillion Korean won. The company stated that it is exploring various options to enhance the competitiveness of its packaging business, but no specific matters have been determined as of now. SK Hynix indicated that if any related matters are confirmed in the future, it will disclose the information again within one month from the date of confirmation. Previously, according to reports from Zhongxin Jingwei citing Bloomberg, informed sources revealed that SK Hynix is considering various disposal options for its factory in Chongqing, including bringing in investors to accelerate business growth. These sources mentioned that a potential equity sale could value the factory at approximately $3 billion.

The Eurozone economy shows "immunity" to the Iran conflict! GDP growth in the second quarter far exceeded expectations, and analysts have significantly raised their full-year forecast to 0.8%.

The eurozone economy has delivered a "resilience report" that far exceeded expectations.

The five major giants raked in a staggering $48 billion in the second quarter, attracting envy! Trump criticizes them for "making too much," and the shadow of windfall taxes reemerges for the oil industry.

The large oil company reported a historic high in profits for the second quarter, and this windfall has sparked a new wave of political and environmental backlash.

Goldman Sachs is bullish on China's AI: there is no overall bubble in the industry, and it is worth investing in the power supply chain, hardware infrastructure, and embodied AI.

Liu Jinjun stated that there is no overall bubble in China's artificial intelligence (AI) industry, and the recent market adjustments have brought relevant valuations back to a healthy level. He pointed out three sub-industries that have significant investment opportunities.

The intervention effect has dissipated, and the yen has once again hit rock bottom against the G-10 currencies. Will the "liquidity vacuum" force the Japanese authorities to pull the trigger a second time?

As the effects of recent interventions gradually fade, the Japanese yen has performed the weakest among the G-10 currencies this month, leading the market to remain highly alert to the possibility of further actions by Japanese authorities.

Hong Kong Monetary Authority and Dubai Financial Services Authority Co-host the Third Climate Finance Conference to Promote Transformation Amidst Changes

The Hong Kong Monetary Authority and the Dubai Financial Services Authority announced today (August 10) that they will jointly hold the third Joint Conference on Climate Finance in Hong Kong on September 10.

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Goldman Sachs Private Credit: The redemption application size for this fund has so far remained below the quarterly limit of 5%, and all current applications have been fully paid out.

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