GMT EIGHT - OPPORTUNITIES IN CHINA

Mei Lian: The upward trend in Hong Kong property prices remains unchanged.

The latest price index for the American United Building is reported at 148.55 points, with a weekly decline of 0.21%, showing narrow fluctuations.

BLACK SESAME (02533) released its interim results, reporting revenue of 458 million yuan, a year-on-year increase of 81.3%.

Hezieszma Intelligent (02533) announced its interim results for the six months ended June 30, 2026, with group revenue of RMB 458 million, an increase of 81.3% year-on-year; gross profit of RMB 227 million, an increase of 261.9% year-on-year; and a net loss of RMB 770 million.

Earnings Report Preview | The customized AI chip model is undergoing a performance test. Can Broadcom Inc. (AVGO.US) Q3 earnings report meet the market's enormous expectations?

Analysts expect Broadcom's revenue to be approximately $29.4 billion, representing a year-on-year growth of as much as 84%, highlighting the transformative impact of AI spending on the company's business model.

UNITEDENERGY GP (00467) announced its interim results, with profit attributable to shareholders reaching HK$953 million, a year-on-year increase of 28.7%.

United Energy Group (00467) announced its interim results for the six months ending June 30, 2026, reporting a turnover of HK$10.939 billion, up 33.7% year-on-year; net profit attributable to shareholders was HK$953 million, an increase of 28.7%; basic earnings per share stood at HK$0.0371.

MiningLamp-W (02718) reported a year-on-year revenue growth of 18.02% in the first half of the year, reaching approximately 760 million yuan, with its intelligent entity business experiencing a sixfold surge.

Minglue Technology-W (02718) announced its 2026 interim results, with revenues of approximately 760 million yuan, an increase of 18.02% year-on-year; gross profit of approximately 390 million yuan, a year-on-year increase of 8.31%; and a loss of 64.227 million yuan during the period, a reduction of 68.5% year-on-year.

ZHONGSHENG HLDG (00881) announced its interim results with a total gross profit of 5.053 billion yuan, an increase of 20% year-on-year. The number of new energy stores reached 102, and comprehensive cooperation with the Geely Group and Huawei ecosystem has been fully implemented.

China Yongda Automobiles Services Holdings Limited (00881) announced its interim results for the six months ended June 30, 2026, with total revenue of RMB 63.022 billion; gross profit of RMB 5.053 billion, an increase of 20.0% year-on-year; profit attributable to shareholders of RMB 111 million; basic earnings per share of RMB 0.047.

A-shares at midday | All three major indices fell collectively, while liquid-cooled servers and real estate strengthened against the trend.

The A-share market was weak and fluctuated in the morning session, showing a divergent pattern of "collective index pullback, widespread decline in individual stocks, coexistence of defensive and thematic hot spots."

Main business turning profit, new business models breaking the mold, supply chain opening up: Baiguoyuan (02411) embarks on a new cycle with "three growth curves."

On August 28, Baiguoyuan announced its interim performance report. In the first half of the year, revenue grew approximately 14.5% year-on-year; net profit attributable to shareholders turned from a loss to a gain. Revenue, profit, and store openings all showed an upward trend, confirming a turning point in performance.

It may trigger a rotation of trillions of yen in funds! The surge in yields has rekindled attractiveness, and calls for GPIF to increase its holdings in Japanese bonds are rising.

As Japan's government bond yields rise sharply, analysts point out that one of the world's largest pension fundsthe Government Pension Investment Fund (GPIF) of Japanmay have ample reason to consider raising its domestic bond allocation target from the current 25% in pursuit of higher returns.

The Hong Kong dollar interbank lending rate has shown mixed developments, with the one-month interbank rate unchanged at 2.8%.

On August 31, the Hong Kong dollar interbank offered rate developed individually, with the one-month rate related to mortgage loans reported at 2.85000%, unchanged.

Is the 60% rate hike expectation merely self-indulgent? Goldman Sachs pours cold water on this: the Federal Reserve's fundamental stance remains one of inaction.

Goldman Sachs bets that Waller's hawkish rhetoric will not be confirmed by hawkish data, so it still maintains its basic prediction of the Federal Reserve staying put.

Wall Street's "false calm" meets real warnings from the bond market: When the VIX is silent, do U.S. Treasury yields become the new panic indicator for U.S. stocks?

As the end of summer and the beginning of autumn approach, the apparent calm on Wall Street is colliding with multiple risks. Although the traditional fear gaugethe Chicago Board Options Exchange Volatility Index (VIX) remains at a year-to-date low, the bond market has begun to sound the alarm: Treasury yields seem to be replacing the VIX as the new "fear gauge" for stock investors.

Chan Mau-po: Siasun Robot & Automation's wave is sweeping the globe, and Hong Kong plays an important role relying on its application market, R&D ecosystem, and capital chain.

On August 31, the Secretary for Financial Services and the Treasury of Hong Kong, Chen Maobo, attended the launch ceremony of the Galbot Store in Hong Kong and delivered a speech.

"Siasun Robot & Automation's first interim report after going public: revenue surged 32 times year-on-year! Zhen Health Medical (02697) signals accelerated commercialization."

On August 28, "the first listed company of surgical robots," Zhenjiankang Medical (02697), released its first interim performance report since going public.

GUSHENGTANG (02273) reports impressive mid-term results for 2026! The interim dividend is proposed at 210 million yuan, delivering shareholder returns alongside a dual commitment to global expansion.

On August 28, Gu Shengtang (02273) announced its mid-term results for 2026.

Gross margin increased by 5 percentage points against the trend, COSMO LADY (02298) stands at the starting point of "revaluation" of value.

Four hours before the performance meeting, Urban Beauty released its mid-term financial report for 2026: revenue of 1.267 billion yuan, a year-on-year decrease of 11.8%; net profit attributable to the parent company of 61.214 million yuan, a year-on-year increase of 5.9%; gross margin of 51.4%, an increase of about 5 percentage points year-on-year.

The high-end strategy is entering a harvest period, and the qualitative change in profits of TIANGONG INT'L (00826) accelerates its move towards a high-end materials platform.

As the benefits of upgrading begin to clearly reflect in the profit margins, Tiangong International is no longer just a leading special steel enterprise; it has evolved into a high-end materials platform company, and its true value is expected to be repriced in the capital market.

The Federal Reserve is closely monitoring inflation while ignoring employment landmines? LISEP warns: functional unemployment has risen for four consecutive months, and the labor market is losing ground.

The unemployment rate reported by the U.S. Department of Labor has been declining steadily over the past few months, reversing last year's upward trend, but another alternative indicator tells a different story.

A-share Opening Brief | Shanghai Composite Index opened down 0.65%, with non-ferrous metals leading the decline while real estate strengthened.

On August 31, the Shanghai Composite Index opened down 0.65% at 3926.53 points.

The yen has fallen below 160 again, and Washington refuses to signal further intervention! Yen trading focus shifts to the central bank meeting in September.

U.S. Treasury Secretary Scott Minister stated that the recent movement of the yen is "fairly manageable," indicating that the yen's further decline is not seen as the kind of disorderly fluctuation that led to the rare joint intervention by Japan and the U.S. last month.

EPIWORLD (02726): The demand for AIDC has driven a significant year-on-year increase of 193.5% in the gross profit of global industry leaders, signaling that the industry's inflection point has arrived and the "inbound" dividend is about to be released.

With the disclosure of this impressive interim report and the company's upcoming inclusion in the Hong Kong Stock Connect, the value reassessment under the high growth logic is expected to accelerate.

2026 Mid-Year Report Gold Mine: Urban Delivery Revenue Grows by 24.4%, Orders Increase by Over 30%, SF INTRA-CITY (09699) is Capitalizing on the Largest Dividend of Trillion-yuan Instant Retail.

From "delivery provider" to "new consumption infrastructure," the value of SF Express is entering a reassessment window.

National Bureau of Statistics Interpretation: The Manufacturing Purchasing Managers' Index rose in August.

Chief Statistician Huo Lihui from the Survey Center of the National Bureau of Statistics interprets the Purchasing Managers' Index for August 2026 in China.

The National Bureau of Statistics: In August, the manufacturing Purchasing Managers' Index (PMI) was 49.8%, an increase of 0.6 percentage points from last month, indicating a recovery in the economic climate.

On August 31, the National Bureau of Statistics released the operating situation of China's Purchasing Managers' Index for August 2026.

After the token revenue surged by 760%, the market is re-evaluating UNISOUND (09678).

What Yunzhisheng is truly, perhaps, is not merely a shift in business operations. Rather, it is a moment re-evaluated by the market.

"The U.S. can do whatever it wants!" At the Jackson Hole meeting, the European Central Bank is increasingly uneasy about the stability of U.S.-Europe financial cooperation.

According to several informed sources, officials from the European Central Bank felt far from reassured after communicating with their American counterparts at the annual central bank meeting. They are concerned that the long-standing practices for global cooperation have been undermined and worry that the already tense US-EU relationship will face more setbacks in the future.

AI computing power + full industry chain of optical cables, TRANSTECH OPTEL (09963) performance turnaround.

The Hong Kong small-cap optical communication company High-Tech Bridge Optical (09963) reported a turnaround to profitability in its interim results, achieving a net profit attributable to shareholders of HKD 42.32 million, a year-on-year increase of 434.66%.

The tightening storm is sweeping through again! Socit Gnrale warns that the Federal Reserve will raise interest rates three times before March next year.

Socit Gnrale expects the Federal Reserve to begin raising interest rates in September, as persistent inflation and an improving labor market are pushing policymakers towards a more hawkish stance.

The resonance of six-dimensional forces cultivates a tree, the industry resonance behind ABLE DIGITAL (02687)'s mid-term performance.

Zhuoyue Ruixin (02687) announced its interim results, showing that as of the end of the reporting period, its backlog reached RMB 505 million, a year-on-year increase of 34.7%, significantly surpassing the revenue growth rate of 19.1% during the same period.

The performance dark horse in the AI application sector + backed by the Hong Kong Stock Exchange Technology 100 Index, XUNCE (03317) has seen its value for passive fund allocation significantly highlighted.

Recently, XunCe (03317) was included as a constituent stock of the Hong Kong Stock Exchange Technology 100 Index.

Baoji Pharmaceutical (02659) differentiates its pipeline to forge a deep economic moat and unlock the "cognitive gap" market.

Recently, Baoji Pharmaceutical (02659) announced its performance for the first half of 2026. In this mid-term report, Baoji Pharmaceutical not only achieved a reduction in financial losses, but also experienced a period of growth in its commercialization and internationalization efforts.

MAO GEPING (01318): Performance resilience revalidated "pricing power core" Davis double-click expectation has already been on the verge of action.

Mao Geping has successfully built an Alpha capability that transcends cycles, and its performance trajectory is independent of industry fluctuations, becoming a true "growth island" in the era of stock.

Profits Surge + Global Breakthrough + AI Empowerment: QINGCI GAMES (06633) Anticipates a New Chapter of High-Quality Growth

Not only does it demonstrate the financial resilience of Qingci Games amidst cyclical fluctuations, but it also allows for a clear insight into the underlying logic that enables it to navigate through cycles.

NVIDIA and SpaceX form a "match made in heaven"! Rubin's computing power is heading into space orbit, while Musk anchors SpaceX's valuation to a Type II Kardashev civilization.

In a certain parallel universe, NVIDIA CEO Jensen Huang and "Mr. Anything is Possible," the world's richest man Elon Musk, might be a pair of cosmic superheroes.

Net profit surged by 98.28%, AI implementation, smart factory production: The value leap of BUTONG GROUP (06090) has just begun.

Different groups are using their integrated capabilities of "brand + technology + production capacity" to draw a growth curve from household durable goods to an all-encompassing smart lifestyle.

As the echoes of the Fed's hawkish comments fade away, the non-farm payrolls data and Broadcom Inc. (AVGO.US) earnings report are coming in quick succession: U.S. stocks in September face dual validations of interest rate hikes and AI profitability in the "opening week."

As Wall Street enters September, investors will closely monitor the U.S. non-farm payroll report for August in the coming week to look for signals regarding the Federal Reserve's next monetary policy direction. In addition, Broadcom's latest earnings, the G20 finance ministers and central bank governors meeting, as well as Apple's official leadership change, may also influence market trends.

CITIC SEC: Maintain the baseline judgment that the Federal Reserve will remain on hold at the September meeting and await data guidance.

CITIC Securities maintains its baseline judgment that the Federal Reserve will remain inactive during the September meeting, emphasizing that future inflation and employment data are crucial.

Extreme Wisdom (02590) showcases significant multi-dimensional growth momentum in the first half of 2026: orders increased by 35.5%, subscription services experienced explosive growth, and the expansion of growth boundaries continues.

Recently, Jichijia (02590) released its mid-term performance report for 2026.

CHONGQING IRON (01053): In the first half of the year, the production of reached 1.0981 million tons, and the sales volume reached 1.0889 million tons.

Chongqing Iron and Steel Company (01053) announced that from January to June 2026, the production volume of plates reached 1,098,100 tons, with sales volume of 1,088,900 tons, and the average selling price was 3,362 yuan per ton. The production volume of hot rolled products was 2,296,900 tons, with sales volume of 2,289,100 tons, and the average selling price was 3,010 yuan per ton; the production volume of steel billets reached 154,100 tons, with sales volume of 153,500 tons, and the average selling price was 2,915 yuan per ton.

CHONGQING IRON (01053) released its interim results, with a net loss attributable to shareholders of 179 million yuan, an increase of 36.55% year-on-year.

Chongqing Iron and Steel Company (01053) announced its interim results for the six months ended June 30, 2026, with the group's revenue reaching RMB 11.826 billion, a decrease of 9.62% year-on-year; the net loss attributable to shareholders was RMB 179 million, an increase of 36.55% year-on-year; the basic loss per share was RMB 0.02.

A-share pre-market report | New policies in the real estate market go viral! Expert interpretation; Changxin LPDDR6 memory begins mass production globally.

Changxin's LPDDR6 memory has officially entered mass production. It is reported that the Xuanjie O3 is the first to support Changxin LPDDR6, with the Xiaomi 18 Fold debuting with it.

ABBISKO-B(02256): The first patient has been dosed in the clinical trial of the new pan-KRAS inhibitor ABSK211.

He Yu-B (02256) announced that its subsidiary, Shanghai He Yu Biomedical Technology Co., Ltd. ("He Yu Pharmaceutical"), has completed the first patient dosing in a Phase I clinical trial of its oral, highly potent, and broadly covering small molecule pan-KRAS inhibitor ABSK211 for the treatment of patients with advanced solid tumors carrying KRAS gene alterations.

SBP GROUP (01177): KYLO-11 "LPA SIRNA" announces Phase I clinical data at ESC 2026 and in The Lancet.

China National Pharmaceutical Group (01177) announced that its wholly-owned subsidiary Hangzhou Hejiya Biopharmaceutical Co., Ltd. (Hejiya Bio) has independently developed the National Class 1 innovative drug Kylo-11 LPA siRNA. The final results of its Phase I clinical study will be presented in the form of a Late-Breaking Clinical Science (LBCT) oral report at the 2026 European Society of Cardiology (ESC) annual meeting; at the same time, the full study will be published in the top international medical journal The Lancet (IF: 109).

New Stock News | Betta Pharmaceuticals (300558.SZ) Files Again with the Hong Kong Stock Exchange to Collaboratively Build a Full-Industry Chain Biopharmaceutical with the "Four Horsemen"

According to the Hong Kong Stock Exchange's disclosure on August 28, BeiGene, Ltd. has submitted a listing application to the main board of the Stock Exchange, with CITIC Securities as its sole sponsor.

HUTCHMED (00013) announced that the SANOVO study of the combination therapy of ORPATHYS and TAGRISSO showed significant progression-free survival benefits in first-line patients with MET-overexpressing EGFR mutant lung cancer in China.

Hutchison China MediTech Limited (00013) announced that the SANOVO China Phase III study, conducted in patients with locally advanced or metastatic non-small cell lung cancer with epidermal growth factor receptor (EGFR) mutations and MET overexpression, has achieved positive top-line results. The combination therapy of ORPATHYS (savolitinib) and TAGRISSO (osimertinib) demonstrated a statistically significant and clinically meaningful improvement in progression-free survival (PFS) compared to TAGRISSO monotherapy in the high MET population and the intent-to-treat patient population.

The hydrogen production business via water electrolysis has significantly ramped up, fulfilling growth expectations. GUOFUHEE (02582) has strongly entered a new growth phase.

Guofu Hydrogen's performance catalysts for the second half of the year have become clear. With the hydrogen production from water electrolysis officially taking over as a new growth engine, the release of policy dividends, concentrated order deliveries, and the accelerated implementation of new scenarios are all expected to strongly promote a rapid recovery in performance.

Brokerage Morning Meeting Highlights | The Market May Enter a Chaotic Phase in the Future

Huatai Securities believes that the rebalancing of profit and capital allocation "discrepancy" will continue; Pacific Securities believes that the current A-shares are in a phase of simultaneous external disturbances and internal support; Minsheng Securities believes that the market may enter a chaotic state in the coming stage.

Xuyang Group (01907) has seen a significant increase in profits, initiating a new round of growth. The three major pillar businesses are working together to construct a framework for certain growth.

The synergistic development of the three major industries: chemical engineering, coke, and new energy will continuously enhance the growth visibility and sustainability of Xuyang Group.

The logic of the gold bull market is becoming increasingly robust! From hedging against dollar credit to "a 1 basis point allocation leveraging 1.4%," gold prices are no longer solely reliant on the Federal Reserve.

After the U.S. Treasury took measures to control borrowing costs, gold bulls are betting on a rise in gold prices by utilizing exotic options and spread trades. Investors have pushed up the spot gold price, making it poised for the largest monthly gain since January; meanwhile, short positions in Bitcoin are being squeezed, driving the token's price surge.

Hong Kong Stock Concept Tracking | Lithium Carbonate Prices Rise Again, Leading Listed Companies' Profits Are Secured (Including Concept Stocks)

CITIC Construction Investment: Inventory continues to be digested, and lithium is expected to shift from being priced based on long-term expectations to short-term fundamentals.

Latest

18/08

Citigroup: Initiates "Buy" rating for Zijin Mining International (02259), optimistic about production growth and gold price outlook.

18/08

Ganfeng Lithium: Progress on Subsidiary's Involvement in Investment Limited Partnership Matters

18/08

Zhichun Technology (603690.SH) plans to transfer part of its shares in the affiliated company Weidun Crystal Phosphate for 20 million yuan.

18/08

Xiamen Releases Twelve Measures to Promote Exchange and Cooperation with Taiwan

18/08

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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