GMT EIGHT - OPPORTUNITIES IN CHINA

China's semiconductor equipment investment boom is expected to continue! Morgan Stanley: Wafer fabrication equipment spending is expected to keep growing in 2027 and 2028, and the localization process may further accelerate.

Morgan Stanley released its latest research report, stating that the strong growth momentum in China's wafer fabrication equipment market is expected to continue through 2027 to 2028.

US Stock Market Move | Popular Chinese concept stocks rose broadly, with Alibaba Group Holding Limited Sponsored ADR (BABA.US) gaining more than 4%.

Popular Chinese concept stocks rose broadly, with Kingsoft Cloud (KC.US) gaining more than 5% and Alibaba (BABA.US) gaining more than 4%.

WEB3 META (08093) issues profit warning, expects annual loss attributable to shareholders of approximately HK$29 million to HK$31 million

WEB3 META (08093) issues an announcement that the Group is expected to record a loss attributable to owners of the Company of approximately HK$29 million to HK$31 million for the year ended 30 June 2026, compared to a loss attributable to owners of the Company of approximately HK$20 million for the year ended 30 June 2025.

CHINA ECOTOUR (01371) issues a positive profit alert, expecting annual profit attributable to shareholders of approximately HK$95 million to HK$105 million, turning from loss to profit year-on-year.

China Ecotour (01371) announced that, compared with the loss attributable to owners of the Company of approximately HK$72.4 million recorded by the Group in the prior year, the Company expects to record a profit attributable to owners of the Company of between approximately HK$95 million and HK$105 million for the year ended 30 June 2026.

AI agents compete for the $30 trillion consumer market! Morgan Stanley: Meta(META.US), Apple Inc.(AAPL.US), Amazon.com, Inc.(AMZN.US) and others are poised to benefit; Alphabet Inc. Class C(GOOGL.US) faces a business model test

Morgan Stanley believes that AI agents are accelerating their evolution into consumer transaction gateways and are expected to unlock a consumer market of approximately $30 trillion in the future. Meta, Apple, Amazon, and others may benefit, while Google and industries such as ride-hailing face pressure to reshape their business models.

SINOPHARM TECH (08156) issues profit warning, expecting annual loss attributable to shareholders of HK$9 million to HK$11 million

SINOPHARM TECH (08156) issued an announcement that the Group expects to record a loss attributable to owners of the Company of between HK$9 million and HK$11 million for the year ended 30 June 2026, as compared to a loss attributable to owners of the Company of approximately HK$0.8 million for the year ended 30 June 2025. The Board considers that the increase in loss attributable to owners of the Company during the Reporting Period was primarily due to (i) a significant year-on-year decline in revenue from the Group's supply chain services business; and (ii) an increase in selling and distribution expenses during the Reporting Period compared to the same period in 2025, which was attributable to increased product promotion costs.

CHINA HONGGUANG (08646) Establishes Joint Venture Subsidiary to Advance the Implementation and Production of the Semiconductor TGV Glass Substrate Industry Chain

CHINA HONGGUANG (08646) announced that on September 18, 2026, in order to accelerate the Group's strategic layout in the semiconductor TGV glass substrate new materials industry chain and promote the industrialization and large-scale production of TGV glass substrate-related technologies, the Company, together with Dream Buddha Resources Group Co., Ltd. (USA) (Dream Buddha USA) and Dongguan Yanguang Technology Co., Ltd. (Yanguang Company), jointly contributed capital to establish a joint venture subsidiary, Hongmeng Xincai (Shenzhen) Semiconductor Technology Co., Ltd. (Hongmeng Xincai); Hongmeng Xincai plans to establish the Hongmeng Xincai Wuhan Branch in Wuhan as a semiconductor TGV glass substrate materials industrialization production base to carry out research and development, pilot testing, and formal production operations.

Shenyang Public Utility Development (00747) plans to sell 100% equity of Shenzhen Jusheng Chuangjian Investment Development for RMB 2 million.

Shenyang Public Utility Development (00747) announced that on September 18, 2026, the company (as seller) entered into a share transfer agreement with the buyer, Shenzhen Castle Century Trading Co., Ltd., to sell 100% equity of the target company, Shenzhen Jusheng Chuangjian Investment Development Co., Ltd., to the buyer for a consideration of RMB 2 million.

US Stock Market Move | Cryptocurrency-related stocks rose broadly, with Strategy (MSTR.US) up over 9%.

On Friday, cryptocurrency-related stocks rose broadly, with Strategy (MSTR.US) up over 9%.

CHINA PPT INV (00736) proposes to issue a total of 53.433 million subscription shares at a premium of approximately 5.6%

China PPT INV (00736) announces that on September 18, 2026 (after trading hours), the Company entered into seven separate subscription agreements with seven individual third parties, pursuant to which the Company has conditionally agreed to allot and issue, and the subscribers have conditionally agreed to subscribe for, a total of 53.433 million subscription shares at a price of HK$0.188 per subscription share.

SMART DIGI TECH (01159): "Hong Kong Remote Sensing Satellite Constellation System Construction Project Feasibility Study Report" Passes Expert Review

Smart Digi Tech Group (01159) announced that on September 18, 2026, the Group conducted an assessment of the feasibility of the "Hong Kong Remote Sensing Satellite Constellation System Construction Project Feasibility Study Report." Experts unanimously agreed that the technical solution is reasonable and feasible, the construction and implementation conditions are basically complete, and the analysis of economic and social benefits is comprehensive. The experts unanimously approved the review, and the Group will revise and improve the report in accordance with the experts' opinions.

GRAND MING (01271) intends to sell its data center development project.

Grand Ming Group Holdings (01271) announced that on September 18, 2026, the vendors (being two indirectly wholly-owned subsidiaries of the Company) entered into the agreements with the purchaser, pursuant to which the vendors have conditionally agreed to sell, and the purchaser has conditionally agreed to purchase, the properties for a minimum total consideration of HK$2.179 billion, plus a potential further additional amount of up to HK$266 million, with a maximum total consideration of HK$2.445 billion.

ANDRE JUICE (02218) plans to acquire a 62.0611% stake in Ningbo Yongqiang Technology for RMB 793 million.

ANDRE JUICE (02218) announced that on September 18, 2026, the company entered into asset purchase agreements with the relevant transferors and the target company (Ningbo Yongqiang Technology Co., Ltd.) respectively. Accordingly, the company intends to acquire an aggregate 62.0611% equity interest in the target company in cash, for a total consideration of RMB 793 million. Upon completion of this transaction, the company will become the controlling shareholder of the target company, and the target company will become a non-wholly-owned subsidiary of the company, with its financial data to be consolidated into the group's consolidated financial statements.

JINGCHENG MAC (00187) controlling subsidiary Beiyang Tianqing receives the CSRC's Notice of Filing

JINGCHENG MAC (00187) announced that on September 18, 2026, the company received a report from its controlling subsidiary Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd. that Beiyang Tianqing had received a Notice of Filing issued by the China Securities Regulatory Commission (CSRC Filing No. 0392026058). As Beiyang Tianqing was the target of an asset restructuring and is suspected of providing information during the restructuring process that contained false records, misleading statements, or material omissions, the CSRC has decided to file a case against Beiyang Tianqing in accordance with the Securities Law of the People's Republic of China, the Administrative Penalty Law of the People's Republic of China, and other laws and regulations.

Inflation and interest rate concerns intensify! Global equity funds see largest weekly net outflow in 9 months; U.S. equity funds suffer outflows for a fourth consecutive week.

Rising crude oil prices have intensified inflation concerns, while market expectations of a Federal Reserve rate hike have also made investors more cautious ahead of its policy decision, resulting in a net outflow of $23.21 billion from global equity funds in the week ended September 16.

MiniMax (00100) Code CLI is officially open-sourced, closing up over 18%.

MiniMax (00100) Code CLI v0.4.12 is now officially available to developers worldwide and has been officially open-sourced under the MIT License.

YUNFENG FIN (00376) Restructures Licensed Entity Framework, to Sell Entire Issued Share Capital of YFML

YUNFENG FIN (00376) announced that on September 18, 2026, the Company (as seller) entered into a sale and purchase agreement with Mega (as buyer), YFML (the target company), and Mr. Yu Feng (as guarantor), pursuant to which the Company agreed to sell and the buyer agreed to purchase the sale shares, representing the entire issued share capital of YFML.

Goldman Sachs: Industrials Are "Even More Expensive" Than Tech Stocks; Global Sector Pricing Logic Has Shifted

The industrials sector's 12-month forward price-to-earnings ratio is now higher than that of the tech sector, indicating a shift in relative valuations across global equity market sectors.

New Stock News | Weiyi Intelligent Manufacturing's Hong Kong IPO and Full Circulation of Domestic Unlisted Shares Filed with the CSRC

On September 18, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice of Filing for Overseas Issuance and Listing and Full Circulation of Domestic Unlisted Shares of Changzhou Weiyi Intelligent Manufacturing Technology Co., Ltd."

S.F. Holding (06936) reported combined revenue of RMB 25.489 billion in August from its express logistics business, supply chain, and international business, up 2.83% year-on-year.

S.F. Holding (06936) announced that the company's combined revenue from its express logistics business, supply chain, and international business in August 2026 amounted to RMB 25.489 billion, representing a year-on-year increase of 2.83%. Among this:

BANK OF GUIZHOU (06199) plans to issue no more than 2.473 billion domestic shares and no more than 43,900 H shares.

Bank of Guizhou (06199) has announced that, in order to improve the Bank's capital adequacy ratio, ensure that the capital adequacy ratio meets regulatory requirements, and enhance its ability to withstand risks, on September 18, 2026, the Board resolved to propose, under a special mandate, the issuance of no more than 2.473 billion domestic shares and no more than 43,900 H shares to qualified subscribers. The net proceeds from this issuance, after deducting relevant issuance expenses, will be used entirely to replenish the Bank's core tier-one capital. This issuance will be carried out under the special mandate. The Bank will convene an extraordinary general meeting and class shareholders' meetings to seek shareholders' approval for the granting of the special mandate to carry out this issuance.

FIRST TRACTOR (00038) will distribute an interim dividend of HK$0.08 per share on November 13.

FIRST TRACTOR (00038) announced that it will distribute an interim dividend of HK$0.08 per share for the six months ended June 30, 2026, on November 13, 2026.

Lagarde: Rising energy prices will not automatically trigger a rate hike; the ECB will make decisions based on a comprehensive assessment of inflation and growth.

ECB President Christine Lagarde told eurozone finance ministers that a jump in energy prices does not automatically monetary tightening.

TIAN TU CAPITAL (01973) will distribute an interim dividend of HK$1.738755 per 10 shares on November 9.

TIAN TU CAPITAL (01973) announced that it will distribute an interim dividend of HK$1.738755 per 10 shares for the six months ended June 30, 2026, on November 9, 2026.

RICH GOLDMAN (00070) issues profit warning, expects annual loss of approximately HK$21 million

RICH GOLDMAN (00070) issued an announcement that the Group is expected to record a loss of approximately HK$21 million for the financial year ended 30 June 2026 (FY2026), compared with a loss of approximately HK$102 million for the financial year ended 30 June 2025 (FY2025).

Cofoe Medical Technology (01187) will distribute an interim dividend of HK$6.95502 per 10 shares on November 16.

Cofoe Medical Technology (01187) has announced that it will distribute an interim dividend of HK$6.95502 per 10 shares for the six months ended June 30, 2026, on November 16, 2026.

TAI PING CARPET (00146) will distribute a final dividend of HK$0.12 per share on December 30.

TAI PING CARPET (00146) has announced that it will distribute a final dividend of HK$0.12 per share for the year ended June 30, 2026, on December 30, 2026.

TAI PING CARPET (00146) Announces Annual Results, Profit Attributable to Shareholders HK$46.522 Million, Up 6.26% Year-on-Year

TAI PING CARPET (00146) announced its annual results for the year ended June 30, 2026, with revenue of HK$696 million, up 5.66% year-on-year; profit attributable to shareholders of HK$46.522 million, up 6.26% year-on-year; basic earnings per share of 21.93 HK cents. A final dividend of 12 HK cents per share is proposed.

A-share Announcement Highlights | Trillion-market-cap giant Foxconn Industrial Internet (601138.SH) completes 1 billion yuan share buyback.

Foxconn Industrial Internet announced that the company has completed its share buyback plan, having repurchased a cumulative 15.8334 million shares, accounting for 0.08% of total share capital, with an actual buyback amount of 1 billion yuan and a buyback price range of 59.91 yuan per share to 66.40 yuan per share.

Buffett steps down as Berkshire (BRK.A.US) chairman; his son Howard takes over to "guard" the culture, while Abel leads operations.

Berkshire Hathaway announced on Friday that 96-year-old Warren Buffett is stepping down as chairman effective immediately and will become chairman emeritus, with his son Howard G. Buffett taking over as chairman.

Preview of US Stock Market | All three major stock index futures are rising together, oil prices are edging slightly lower, and triple witching day arrives tonight, potentially bringing a test of liquidity.

On Friday, September 18, before the U.S. stock market opened, futures for the three major U.S. stock indexes rose together.

HUAYAN ROBOTICS (01021) High-Precision Optical Coupling Platform: Providing Diversified Precision Motion Solutions for High-End Optical Communication Manufacturing

In the field of optical communications and optical module manufacturing, fiber coupling and precision alignment impose extremely stringent requirements on the accuracy, stability, and dynamic response of motion platforms.

The first phase of HKEX's client margin multiplier optimization will be implemented on September 21.

The first phase of HKEX's client margin multiplier optimization will be implemented on September 21.

Goldman Sachs: "Earnings bubble" concerns are exaggerated; S&P 500 expected to rise to 8,700 points next year.

Goldman Sachs forecasts that corporate earnings will grow 11% next year and could drive the S&P 500 up 14% to about 8,700 points over the next year.

RONSHINECHINA (03301) total contracted sales for the first 8 months amounted to approximately RMB 1.731 billion, a year-on-year decrease of 35.89%.

Ronshine China (03301) announced that for the one month ended August 2026, the Group's total contracted sales amounted to approximately RMB 182 million, representing a year-on-year increase of 40.11%; the Group's contracted gross floor area was approximately 7,130 sq.m.; and the Group's average contracted selling price was approximately RMB 25,579 per sq.m.

Major positive news materializes! Senaparib approved by the European Medicines Agency; IMPACT THERAP-B (07630) closes up 15.51%

On September 18, IMPACT THERAP-B and global specialty pharmaceutical company Pharmanovia jointly announced that Senaparib has been approved by the European Medicines Agency.

Lagarde reiterates she will leave the European Central Bank in 2027 but declines to give an exact date.

Christine Lagarde reiterated that she will step down as President of the European Central Bank in 2027, but declined to say whether she will stay until the end of her term in October next year.

FOREST CABIN (02657) will distribute an interim dividend of RMB1.32 per share on November 17.

FOREST CABIN (02657) has announced that it will distribute an interim dividend of RMB1.32 per share for the six months ended June 30, 2026, on November 17, 2026.

"Calm" Becomes the New Normal in the Forex Market: Selling Volatility, Doing Carry Trades, but Institutions Warn a "Time Bomb" May Have Been Planted

The "nothing will happen" mode is becoming the new normal for forex traders.

The U.S. Treasury selloff sees a "glimmer of hope"! 5% high-yield opportunities attract a flood of capital rushing in.

For investors, a possible "glimmer of hope" is that they now have an opportunity that has only occasionally appeared since the global financial crisisto buy now and lock in an annualized return of about 5% for the next 10 years or even longer.

New Stock News | Zhizu IoT Plans Hong Kong IPO, CSRC Requests Supplementary Explanation on the Reasonableness of the Subscription Prices of New Shareholders Added in the Past 12 Months

Zhizu IoT plans a Hong Kong IPO, and the CSRC requires supplementary explanation on the reasonableness of the subscription prices of new shareholders added in the past 12 months.

TRANSTHERA-B(02617): First Patient Dosed in China Phase II Clinical Trial of Tinengotinib Combined with Novel Endocrine Therapy for Metastatic Castration-Resistant Prostate Cancer After Progression on Prior Treatment

Transthera-B (02617) announced that the first patient has been dosed in the China Phase II clinical trial of the Company's core product tinengotinib (Jienntai, Tinengotinib, TT-00420) in combination with novel endocrine therapy (NHT) for metastatic castration-resistant prostate cancer (mCRPC) that has progressed after prior treatment.

IMPACT THERAP-B (07630): Senaparib receives positive CHMP opinion, expected to be used for first-line maintenance treatment of advanced epithelial ovarian cancer, fallopian tube cancer, and primary peritoneal cancer

IMPACT THERAP-B (07630) announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending the granting of a marketing authorisation (MA) for Sepalna (senaparib), intended for the maintenance treatment of advanced epithelial ovarian cancer, fallopian tube cancer, and primary peritoneal cancer.

TRANSTHERA-B (02617): Jienntai (tinengotinib) included in the CSCO Guidelines for the Diagnosis and Treatment of Biliary Tract Malignancies (2026)

Transthera-B (02617) announced that the CSCO Guidelines for the Diagnosis and Treatment of Biliary Tract Malignancies (hereinafter referred to as the Guidelines) have been officially released, and Jienntai (tinengotinib), an innovative multi-target small molecule kinase inhibitor independently developed by the Company, has been included in the Guidelines as a Category II recommendation, Class 2A for the treatment of advanced biliary tract malignancies.

The China Securities Regulatory Commission plans to reward whistleblowers for clues in 17 cases.

Recently, the China Securities Regulatory Commission plans to reward "whistleblowers" who provided clues in 17 cases in accordance with the Securities Law and other relevant laws and regulations.

New Stock News | Meikesheng Energy Plans Hong Kong IPO; CSRC Requests Explanation of Progress in State-Owned Shareholder Identification and Performance of State-Owned Asset Management Procedures

On September 18, the China Securities Regulatory Commission published a public notice of supplementary materials required for overseas issuance and listing filings (September 14, 2026 September 18, 2026).

New Stock News | Bethel Automotive Safety Systems plans Hong Kong IPO; CSRC requires supplementary explanation of all pending litigation and arbitration details involved

Bethel plans a Hong Kong IPO; the CSRC requires supplementary explanation of all pending litigation and arbitration details involved.

Zhisheng Group Holdings (08370) intends to acquire equity interests in Intelligence Advantage Limited and the sale loan for USD 16.9534 million.

Zhisheng Group Holdings (08370) announced that on September 18, 2026 (after trading hours), the purchaser (Zhisheng Group Holdings Limited, the Company) and the seller entered into a sale and purchase agreement, pursuant to which the purchaser has conditionally agreed to acquire and the seller has conditionally agreed to sell, at the consideration, (i) the sale shares and (ii) the sale loan. Upon completion, the target company Intelligence Advantage Limited will become a direct non-wholly-owned subsidiary of the Company, and the financial results of the target group will be consolidated into the financial results of the Company.

New Stock News | Sinocelltech Inc. (688520.SH) plans Hong Kong IPO; CSRC requires supplementary explanation on the necessity and rationality of listing in Hong Kong and other matters.

On September 18, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Offering and Listing Filing (September 14, 2026 - September 18, 2026)."

New Stock News | Hong Kong IPOs of Keliang Information, Senda Electric, and other companies have their materials accepted by the CSRC.

On September 18, the China Securities Regulatory Commission released the "Filing Status Table for Overseas Securities Issuance and Listing of Domestic Enterprises (Initial Public Offering and Full Circulation) (as of September 18, 2026)."

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NASA: The contract performance period runs through 2030, and the total value of the commercial crew transportation capability contract with SpaceX (SPCX.O) has increased to $5.92 billion. The contract modification for three missions and related mission services amounts to $946 million.

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NASA has awarded SpaceX (SPCX.O) three crewed missions to the International Space Station.

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The Beijing Municipal Bureau of Economy and Information Technology and the Beijing Municipal Development and Reform Commission have issued the "Action Plan for Accelerating the Development of the Token Economy in Beijing (20262028)." It mentions promoting breakthroughs in key core technologies. Accelerate the iteration of foundation model technologies and raise the upper limit of model intelligence. Promote model-chip adaptation and tuning, support technological breakthroughs in inference-specific chips, model lightweighting, edge-side deployment, and other areas, build and utilize intelligent computing resources at a high level, and comprehensively enhance token production capacity. Innovate computing power and token financial instruments. Support financial institutions in developing specialized financial products for computing infrastructure construction and token consumption scenarios, and provide enterprises with medium- and long-term credit support. Implement reskilling training for token engineers. Coordinate policy resources such as industry-education integration and super economic individual (OPC) industry practical training, support token factories, digital industrial parks, and online training platforms, provide software engineers with training in model tuning, inference acceleration, platform operations and maintenance, security compliance, and other areas, and cultivate a talent pipeline for token engineering.

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