GMT EIGHT - OPPORTUNITIES IN CHINA

TH MEDICAL-B (02697) won the bid for the multi-organ multi-sensor ambient temperature perfusion system for the Yunnan Agricultural University research procurement project.

True Health Medical-B (02697) announces that the company has participated in the procurement project for research equipment for the Yunnan Agricultural Universitys Key Laboratory of Gene Editing and Xenogeneic Organ Transplantation for Small Pigs in Yunnan Province, Project No. 2026-73 (Project Number: YNGH[2026]-0626) (the Project), and has recently received notification of the projects transaction results.

CIRCUTECH (08051) announced its interim results, with a profit attributable to shareholders of HKD 4.969 million, a year-on-year increase of 15.61%.

Xunzhihai (08051) announced its interim results for 2026, with total revenue of HK$229 million, a year-on-year increase of 4.77%; profit attributable to shareholders of HK$4.969 million, up 15.61% year-on-year; and earnings per share of HK$0.1908.

Changhong JH (03991) released its interim results, with shareholders' profit amounting to HKD 206 million, a year-on-year increase of 13.52%.

Changhong Jiahua (03991) announced its interim results for the six months ending June 30, 2026. The group achieved revenue of HKD 27.782 billion, an increase of 31.24% year-on-year; the profit attributable to owners of the company was HKD 206 million, a year-on-year increase of 13.52%; earnings per share were HKD 0.08.

NEXTEER (01316) announced its interim results, with profit attributable to equity holders reaching $85.806 million, a year-on-year increase of 35.17%.

Nexter (01316) announced its mid-term results for 2026, with a revenue of $2.329 billion, a year-on-year increase of 3.86%; the profit attributable to equity holders of the company was $85.606 million, a year-on-year increase of 35.17%; earnings per share were $0.034.

NEW SILKROAD (00472) issues a profit warning, expecting a mid-term net loss attributable to shareholders to narrow to approximately HKD 13 million to 17 million compared to the same period last year.

New Silkroad Culturaltainment Holdings Group (00472) announced that, based on the Group's preliminary review of the unaudited consolidated management accounts for the six months ending June 30, 2026 (the "Period"), the Group anticipates a reduction in the net loss attributable to the owners of the Company, amounting to approximately HKD 13.9 million to HKD 17 million, while the net loss for the same period in 2025 was approximately HKD 41.7 million. This is mainly attributed to a decrease in impairment losses on goodwill. The impairment losses are a non-cash item and are expected not to adversely affect the Group's operating cash flow or business operations.

Northbound funds | A net sell-off of 2.906 billion by North Water, large models gain additional investment from North Water, and a divergence appears in the performance of the two major foundries before the earnings reports.

On August 12, in the Hong Kong stock market, the northbound capital recorded a net selling of HKD 2.906 billion. Among them, the Shanghai-Hong Kong Stock Connect saw a net selling of HKD 1.882 billion, while the Shenzhen-Hong Kong Stock Connect recorded a net selling of HKD 1.024 billion.

ASIASEC PPT (00271) issues a profit warning, expecting a net loss of approximately HKD 110 million to HKD 120 million for the interim period.

Yazheng Real Estate (00271) announced that the Group expects to record a net loss of approximately HKD 110 million to HKD 120 million for the six months ending June 30, 2026, compared to a net loss of about HKD 63 million for the six months ending June 30, 2025. The main reason for the decline in the Group's financial performance is that during the reporting period, the fair value of the Group's investment properties decreased significantly compared to the same period last year.

DMALL (02586) released its interim results, with a profit attributable to shareholders of 109 million yuan, an increase of 60.85% year-on-year.

Duodian Shuzhi (02586) announced its interim results for the six months ending June 30, 2026, with revenue of RMB 1.155 billion, an increase of 7.05% year-on-year; the profit attributable to equity shareholders is RMB 109 million, an increase of 60.85% year-on-year; earnings per share are RMB 0.12.

"The anchor of global asset pricing" is reaching a critical moment! If the US CPI brings a dovish surprise, short covering in US Treasuries may boost the rally in risk assets.

Wall Street has mixed opinions on whether the Federal Reserve will raise interest rates next month, but the inflation report on Wednesday will determine the Fed's next move. Traders estimate there is about a 50% chance of a 25 basis point rate hike, while better-than-expected economic data could increase the likelihood of a rate increase.

Today's southbound trading saw a net sell-off of 2.906 billion yuan. In the Hong Kong Stock Connect (Shanghai), Jian Tao Laminated Board and Alibaba-W saw net sell-offs of 613 million Hong Kong dollars and 526 million Hong Kong dollars respectively; Tencent Holdings had the largest net buy, amounting to 286 million Hong Kong dollars. In the Hong Kong Stock Connect (Shenzhen), Alibaba-W and Jian Tao Laminated Board experienced net sell-offs of 934 million Hong Kong dollars and 366 million Hong Kong dollars respectively; the largest net buy was 629 million Hong Kong dollars.

SUNSHINE OIL (02012) released its second quarter results, reporting a net loss attributable to equity holders of 19.74 million Canadian dollars, an increase of 896.47% compared to the same period last year.

Sunshine Oilsands (02012) announced its second-quarter results for 2026, with operating costs of CAD 1.002 million, a year-on-year decrease of 59.48%; net loss attributable to equity holders of CAD 19.74 million, a year-on-year increase of 896.47%; and a loss per share of CAD 0.28.

YUE YUEN IND (00551) will distribute an interim dividend of HKD 0.4 per share on October 9.

Yue Yuen Industrial Holdings Limited (00551) announced that the company will distribute an interim dividend of HK$0.4 per share on October 9, 2026.

Hong Kong plans to expand the scope of the preferential tax system for ancillary rights, explicitly excluding proprietary trading businesses.

The core measure of the "Draft Regulation" is to expand the scope of the applicable preferential tax system for incidental rights.

SUNSHINE OIL (02012) reported a second-quarter performance with a net loss attributable to shareholders of 19.74 million Canadian dollars, an increase of 896.47% year-on-year.

Sunshine Oilsands (02012) released its second quarter results for the period ending June 30, 2026, reporting a total loss of CAD 4.7 million, turning from profit to loss compared to the same period last year; the net loss attributable to shareholders was CAD 19.74 million, an increase of 896.47% year-on-year; basic loss per share was CAD 0.03.

YUE YUEN IND (00551) announced its interim results, with a profit attributable to shareholders of $71.998 million, a decrease of 57.9% year-on-year. The interim dividend is HK$0.4.

Yuansheng Group (00551) announced its interim results for the six months ended June 30, 2026, reporting a revenue of USD 3.972 billion, a year-on-year decrease of 2.2%; the profit attributable to the owners of the company was USD 71.998 million, down 57.9% year-on-year; basic earnings per share were 4.49 cents; and the interim dividend was HKD 0.40.

CKI HOLDINGS (01038) will distribute an interim dividend of HK$0.75 per share on September 23.

China Yangtze Power Co., Ltd. (01038) announced that the company will distribute an interim dividend of HKD 0.75 per share for the six months ending on June 30, 2026, on September 23, 2026.

NEXION TECH (08420) issues a profit warning, expecting interim net profit attributable to shareholders to exceed HKD 200,000, turning from a loss to a profit year-on-year.

NEXION TECH (08420) announced that the Group expects to achieve a profit attributable to equity holders of the company exceeding HKD 200,000 for the six months ending June 30, 2026 (the current period), compared to a loss of approximately HKD 1.318 million attributable to equity holders of the company for the six months ending June 30, 2025 (the previous period).

CR MEDICAL (01515) expects a mid-term profit attributable to shareholders of approximately 252 million to 278 million yuan, representing a year-on-year decrease of about 18.1% to 25.9%.

China Resources Medical (01515) announced that the company is preparing its consolidated performance for the six months ending June 30, 2026 (reporting period).

IMPACT THERAP-B (07630) has nominated IMP2794 as a preclinical candidate compound (PCC), a highly specific PROTAC targeting KAT6A derived from the company's proprietary targeted protein degradation platform.

Inpai Pharmaceutical-B (07630) announced that it has nominated IMP2794 as a preclinical candidate compound (PCC), which is a KAT6A-specific degrading PROTAC. IMP2794 is the first PCC discovered by Inpai Pharmaceutical using its proprietary targeted protein degradation platform.

WKK INTL (HOLD) (00532): Taiwan Port Construction reported a net profit after tax of NT$59.017 million in the first half of the year, a decrease of approximately 37.78% compared to the same period last year.

WKK INTL (HOLD) (00532) announced that Taiwan Port Construction Co., Ltd. achieved operating revenue of NT$766 million for the six months ending June 30, 2026; the consolidated net profit after tax was NT$59.017 million, a year-on-year decrease of approximately 37.78%.

Applying the brakes on fervent retail investors: South Korea tightens regulations on leveraged ETFs, requiring a 5-day simulation trading period before leveraged trading of individual stocks.

South Korea will require new investors in individual stock leveraged ETFs to complete simulation trading exercises, further tightening regulatory rules on these high-risk products that amplify market volatility.

Great Wall Holdings (00524) has issued a profit warning, expecting a mid-term consolidated loss attributable to shareholders of approximately HKD 8.8 million to HKD 9.8 million, an increase compared to the same period last year.

Great Wall of China (00524) announced that the Group expects to record an unaudited consolidated loss attributable to shareholders of approximately HKD 8.8 million to HKD 9.8 million for the six months ending June 30, 2026 (the current period), whereas the unaudited consolidated loss attributable to shareholders for the six months ended June 30, 2025 (the previous period) was approximately HKD 6.6 million.

WG ENV TECH (01845) issues a profit warning, expecting that the mid-term loss attributable to shareholders will expand year-on-year to approximately 12 million to 14 million yuan.

According to a released by Victoria Harbour Environmental Technology (01845), it is expected that for the six months ending June 30, 2026, the loss attributable to the companys owners will be approximately between RMB 12 million and RMB 14 million, compared to a loss of RMB 7.3 million for the six months ending June 30, 2025.

ZHAOKE OPHTH-B (06622) has entered into an exclusive distribution and promotion agreement with Pengpai Biomedical for the hydrochloride eye drops of Epiphen.

Zhaoke Ophthalmology-B (06622) announced that the company has recently entered into an exclusive distribution and promotion agreement with Pengpai Biopharmaceutical (Beijing) Co., Ltd. (Pengpai Biopharmaceutical) for the Hydrochloride Epiphenidine Eye Drops, covering all sales channels in China (excluding Hong Kong, Macau, and Taiwan). According to the agreement, the company and Pengpai Biopharmaceutical will cooperate for an initial period of five years. If Pengpai Biopharmaceutical achieves at least 80% of the cumulative procurement target during the first five-year period, and there are no other significant violations of the agreement, the cooperation period shall automatically renew for one additional term, extending the total contract duration to ten years.

TENCENT (00700) released its second-quarter results, with adjusted profit attributable to shareholders reaching 68.415 billion yuan, a year-on-year increase of 9%.

Tencent Holdings (00700) announced its second quarter results for 2026, with the group achieving revenue of approximately RMB 204.785 billion, a year-on-year increase of 11% and a quarter-on-quarter increase of 4%. Gross profit was RMB 118.433 billion, up 13% year-on-year and 6% quarter-on-quarter. The profit attributable to equity holders of the company was RMB 56.022 billion, an increase of 0.7% year-on-year, but a decrease of 4% quarter-on-quarter. The profit attributable to equity holders of the company under non-International Financial Reporting Standards was RMB 68.415 billion, representing a year-on-year increase of 9% and a quarter-on-quarter increase of 0.8%. Basic earnings per share were RMB 6.207.

Tencent (00700) reported total revenue of 204.8 billion yuan in the second quarter, an increase of 11% year-on-year.

Total revenue: a year-on-year increase of 11%, gross profit: a year-on-year increase of 13%, operating profit according to non-international financial reporting standards: a year-on-year increase of 9%

Chaozhou Three-Circle (Group) (06951) invested 749,600 yuan on August 12 to repurchase 6,000 A shares.

Sanhua Group (06951) announced that it will spend 749,600 yuan to repurchase 6,000 A shares on August 12, 2026.

POU SHENG INT'L (03813) will distribute a special dividend of HKD 0.016 per share on October 9.

Baoshen International (03813) announced that the company will distribute a special dividend of HKD 0.016 per share on October 9, 2026.

CKI HOLDINGS (01038) reported its interim results, with shareholders attributable profit of HKD 21.252 billion, an increase of 388.78% year-on-year.

China Yangtze Power Co., Ltd. (01038) announced its 2026 interim results, with revenue of HKD 19.631 billion, a decrease of 3.58% year-on-year; shareholders' profit attributable reached HKD 21.252 billion, an increase of 388.78% year-on-year; earnings per share stood at HKD 8.43. A mid-term dividend of HKD 0.75 per share is proposed.

NEP INTERLONG (08329) issues a profit warning, expecting a mid-term net profit of approximately 7 million yuan.

Haitian Yintelong (08329) announced that it expects the group's net profit attributable to owners of the company for the mid-2026 period to be approximately RMB 7 million, while for the six months ending June 30, 2025, the net profit attributable to owners of the company was approximately RMB 19.07 million. The main reason for the decline in net profit attributable to owners of the company is the impact of the market environment and policies, which led to a decrease in group revenue of approximately 12%, primarily due to a decline in revenue from the production and sale of pharmaceuticals and medical devices.

FY FINANCIAL (08452) issued a profit warning, expecting a mid-term net loss of approximately 11 million to 12.5 million yuan.

Fuyin Financing Co., Ltd. (08452) announced that the Group expects to record a net loss of approximately RMB 11 million to RMB 12.5 million for the six months ending June 30, 2026 (for the six months ending June 30, 2025, the net loss was approximately RMB 1.39 million).

POU SHENG INT'L (03813) announced its mid-2026 results, with shareholder profit attributable to owners at 244 million yuan, an increase of 29.9% year-on-year.

P&R International (03813) announced its performance for the six months ended June 30, 2026, with operating revenue of 8.9646 billion yuan (RMB, the same below), a year-on-year decrease of 2.1%; profit attributable to the company's owners was 244 million yuan, a year-on-year increase of 29.9%; basic earnings per share were 4.70 cents, with a proposed interim dividend of 0.016 Hong Kong dollars per share and a special dividend of 0.016 Hong Kong dollars per share.

POWER ASSETS (00006) announced its interim results, with a profit attributable to shareholders of HK$14.704 billion, an increase of 383.37% year-on-year.

Electric Power Industry (00006) announced its mid-term results for 2026, with the group achieving revenue of HKD 298 million, a decrease of 15.34% year-on-year; the profit attributable to shareholders was HKD 14.704 billion, an increase of 383.37% year-on-year; earnings per share were HKD 6.9, and an interim dividend of HKD 0.78 per share is proposed.

POWER ASSETS (00006) will distribute an interim dividend of HK$0.78 per share on September 22.

Power Assets Holdings Limited (00006) announced that the company will pay an interim dividend of HK$0.78 per share on September 22, 2026.

POU SHENG INT'L (03813) will distribute an interim dividend of HKD 0.016 per share on October 9.

BaoSheng International (03813) announced that the company will distribute an interim dividend of HKD 0.016 per share on October 9, 2026.

SHANSHAN (01749) issued a profit warning, expecting a net consolidated profit of about 3 million yuan for the first half of the year, a year-on-year decline.

Shanshan Holdings (01749) announced that it expects the Group to achieve a consolidated net profit of approximately RMB 3 million for the six months ending June 30, 2026, while it achieved a consolidated net profit of approximately RMB 12.1 million for the six months ending June 30, 2025.

As of the end of July, the comprehensive net asset value per share of C FIN INT INV (00721) is approximately HKD 0.07.

China Finance International (00721) announced that as of July 31, 2026, the unaudited net asset value per ordinary share is approximately HKD 0.07.

HONY MEDIA (00419) and AIROBO have established a joint venture in Hong Kong to enter the operational business of the Siasun Robot & Automation platform.

Hongyi Cultural Group (00419) announced that the company has jointly established a joint ventureAIROBO (HK) LIMITED (Joint Venture) with AIROBO PTE. LTD (AIROBO) in Hong Kong to engage in robot platform operation business. The company holds a 70% equity stake in the joint venture, while AIROBO holds a 30% equity stake.

QIANHAI HEALTH (00911) announced its interim results, with a net profit of HKD 2.844 million, a year-on-year decrease of 40.43%.

Qianhai Health (00911) announced its interim results for 2026, reporting revenue of HKD 117 million, a decrease of 65.74% year-on-year; net profit of HKD 2.844 million, a decrease of 40.43% year-on-year; and earnings per share of HKD 1.68 cents.

LEGION CONSO(02129) issues positive profit prediction, expecting a mid-term profit attributable to shareholders of approximately 700,000 Singapore dollars, turning losses into profits compared to the same period last year.

LEGION CONSO (02129) announced that it expects to achieve a profit attributable to owners of the company of about 700,000 Singapore dollars for the six months ending June 30, 2026 (the current period), compared to a loss attributable to owners of the company of about 1.56 million Singapore dollars for the six months ending June 30, 2025 (the previous period). The anticipated turnaround to profitability is mainly due to (i) an increase in customer demand for truck transport services and freight forwarding services during the current period, driving revenue growth; and (ii) a decrease in professional fees, resulting from a decline in consulting and advisory costs compared to the previous period.

Tencent Holdings' operating profit for the second quarter was 67.28 billion yuan, estimated at 67.73 billion yuan.

The world's largest sovereign fund has released its semi-annual report: a return rate of 9.4%, heavily invested in NVIDIA, reaping the benefits of AI.

Norway's sovereign wealth fund, valued at $2.3 trillion, achieved a return of 9.4% in the first half of the year, primarily due to the profits generated by its substantial holdings in U.S. tech company stocks.

A-share market review | Shanghai Composite Index rose 0.32%, ChiNext Index rose 1.49%, CPO, real estate, and liquor sectors all saw significant surges.

On August 12, the three major indices of A-shares opened lower but rose throughout the day, closing collectively in the green. The ChiNext Index and the STAR 50 led the gains, with both indices rising by over 1%.

Survey: Nearly 70% of Hong Kong residents lack confidence in their ideal retirement, with inadequate planning as the main reason. Relying solely on AI is insufficient to boost confidence.

The survey shows that 68% of respondents lack confidence in achieving their ideal retirement or are in a state of "hesitation." The retirement issue faced by Hong Kong residents stems from inadequate planning rather than a lack of information.

Most major U.S. tech stocks rose before the market opened, with SK Hynix up 2%.

Most major tech stocks in the U.S. pre-market are rising, with SK Hynix up 2%, Micron Technology up 1%, SpaceX up 0.8%, Alphabet A up 0.5%, NVIDIA up 0.3%, Tesla up 0.1%, while Meta and Apple are flat. Amazon is down 0.1%, and Microsoft is down 0.7%. AMD is up over 10%, as the company's first fiscal quarter revenue outlook exceeds expectations. AI compute rental company CoreWeave is up over 15% pre-market, with the company's second fiscal quarter revenue doubling to $2.58 billion.

KINGDEE INT'L (00268) announced its mid-year results for 2026, with revenue increasing by 13.6% year-on-year and revenue from AI-native products growing by 189% year-on-year.

During the reporting period, the Group recorded total revenue of approximately 3.625 billion yuan, representing a year-on-year increase of about 13.6%. This growth was largely driven by a year-on-year increase of approximately 189.0% in revenue from AI-native products, which reached about 296 million yuan. Revenue from cloud services amounted to approximately 3.116 billion yuan, a year-on-year increase of about 16.6%, accounting for about 86.0% of the Group's revenue. Among this, subscription revenue was about 2.028 billion yuan, with a year-on-year increase of approximately 20.4%.

Nearly a hundred billion dollars of "ammunition" only bought two weeks of respite? The rare intervention by the US and Japan can't stop the yen from approaching the 160 threshold.

Less than two weeks before the historic joint intervention by the U.S. and Japan, the yen has reversed about half of its gains.

CFA: In July, the national futures trading market's trading volume decreased by 5.31% year-on-year, while the trading value increased by 20.99%.

The China Futures Industry Association released the trading situation of the national futures market for July 2026.

Closing Review: The ChiNext Index opened lower but rose to close up 1.49%, with consumer stocks becoming active in the afternoon.

The three major A-share indexes all rose today. By the close, the Shanghai Composite Index was up 0.32%, the Shenzhen Component Index rose 1.09%, the ChiNext Index increased by 1.49%, the BeiZheng 50 climbed 0.23%, and the Sci-Tech 50 Index gained 1.61%. The total market turnover was 21,672 billion yuan, a decrease of 1,684 billion yuan compared to the previous day, with over 4,100 stocks in the market gaining. In terms of sectors, real estate, fiber optic concept, CPO, communication equipment, and education sectors led the gains; while oil and gas extraction and services, combustible ice, fentanyl, and coal mining and processing sectors had significant losses. On the market, the real estate sector continuously soared in the afternoon, with stocks such as Binhai Group, Urban Construction Development, Rongsheng Development, China Communications Development, and Shoukai Co., Ltd. hitting the daily limit. Tefa Services, Huayuan Holdings, and China Merchants Shekou also had notable increases. The fiber optic concept remained strong throughout the day, with Changjin Photonics and Juguang Technology hitting the daily limit, while Zhichun Technology, Tongding Interconnection, and Yongding Co., Ltd. also reached the limit, with Changying Tong, Zhishang Technology, and Guangku Technology seeing substantial gains. The food processing and manufacturing sector made a strong ascent in the afternoon, with stocks such as Anji Video, Haoxiangni, and Baihe Co., Ltd. reaching the daily limit, while Gaishi Foods, Lianhua Holdings, Yizhi Magic Taro, and Zhu Laoliu led in gains. The oil and gas extraction and services sector remained sluggish throughout the day, with Shouhua Gas, Tongyuan Petroleum, and Keli Co., Ltd. experiencing notable declines.

Commodity futures closing

Polycrystalline silicon has risen continuously by 4.26%, lithium carbonate has increased continuously by 2.97%, butadiene rubber has risen continuously by 2.76%, the freight index for European routes has risen continuously by 2.75%, low-sulfur fuel oil has risen continuously by 2.57%, fuel oil has increased continuously by 2.49%, and coking coal has risen continuously by 2.22%.

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