GMT EIGHT - OPPORTUNITIES IN CHINA

Why has the core product behind faced commercialization obstacles in the US, and how did the stock price of ACOTEC-B (06669) plunge before reversing?

On August 12, after market hours, Sunruida Medical-B (06669) disclosed its earnings warning announcement for the first half of the 2026 fiscal year. The company stated in the announcement that it expects a net loss of not more than RMB 80.9 million for the six months ending June 30, 2026, compared to a net profit of approximately RMB 88.6 million for the same period last year, reflecting a year-on-year transition from profit to loss.

Yushujing Technology (688836.SH) IPO Heat and the Noise: The Dark Pool Trading Rumors Are Groundless, and the Risks Behind Should Not Be Underestimated.

Regarding the recent situation of Yushu Technology involving "dark trading," reporters have verified this with several investment institutions, private equity firms, and wealth management departments of brokerage firms. All parties reported that "they have not heard about it, and it basically does not exist."

Three senior professionals joined the independent director lineup, and FU SHOU YUAN (01448) has a clearer path to resumption.

The resume of the new independent director adds weight to this appointment.

In the first seven months, state-owned enterprises in Hunan exported 800 million yuan worth of rail transit equipment, a year-on-year increase of 58.7%.

In the first seven months, Hunan state-owned enterprises exported 800 million yuan worth of rail transit equipment, an increase of 58.7%, accounting for 82.9%.

NVIDIA Corporation (NVDA.US) plans to invest $3 billion to enter the SB Energy market: from selling chips to securing the "power-park-computing" chain with OpenAI.

Analysts point out that Nvidia may be able to intervene early in a crucial aspect that determines whether GPU orders can be fulfilled by investing in the data center developers serving OpenAI.

Super El Nio is about to strike. JP Morgan warns: a global food crisis may erupt next year.

J.P. Morgan recently warned that the next round of the global food crisis may be brewing and could erupt next year.

Control of the Strait: "Each has its own say": Trump declares to "take" Hormuz, while Iran states it has reached an agreement with Oman on a passage plan.

Iran has announced that it has reached an agreement with Oman on a new shipping route in the Strait of Hormuz, but the foreign minister made it clear that this is a separate matter from the reopening of the strait, which will depend on whether the United States can meet the conditions.

Hong Hao: China's AI market has entered the second phase, and high-quality companies are performing better.

On August 13, renowned economist Hong Hao shared his insights on the future AI market during an interview.

Guosen Xun Yugen: What new narratives have emerged as this round of the bull market enters its third stage?

The bull market that began on September 24, 2024, has entered its third phase. A new round of increases following market adjustments often brings about new narratives.

Hong Kong Property: Over 20 million Hong Kong dollars in second-hand residential transactions recorded 1,314 deals in the first seven months of Hong Kong, setting a new high for the same period in five years.

In the segment of over 20 million Hong Kong dollars, 1,314 second-hand residential properties were registered, marking an increase of approximately 81% compared to 726 registrations during the same period last year. The year-on-year increase significantly outperformed the market, reaching a five-year high for the same period.

CITIC SEC: It is expected that in the second half of the year, opportunities in the home appliance industry will come more from industrial trends and the enterprises' own adjustment capabilities. We are optimistic about three main lines.

In the first half of 2026, the demand for my country's home appliance industry fluctuated overall. Domestic sales were affected by high baselines and weather, while external sales experienced increased differentiation due to external disturbances such as costs and exchange rates. It is expected that the performance of leading companies will remain resilient in Q2 and the first half of the year.

Optimal "AI Bubble Trading": Going Long on Both "Pride" and "Prejudice"

The optimal investment strategy in the current AI bubble environment is to simultaneously go long on "arrogance" (leading AI technology companies) and "bias" (overlooked distressed assets) to capture the dual-sided returns during the final peak stage of nominal GDP bubble.

CITIC SEC: Can the pressure from the midterm elections still trigger a "TACO"?

The process of the 2026 midterm elections is more than halfway through, and the primary strategies of both parties are gradually becoming clear. Analyzing state by state, the most likely outcome is that the Democratic Party will take the House of Representatives while the Republican Party will hold onto the Senate.

Broadcom Inc. (AVGO.US) fell 6% overnight: The next hurdle for AI is the cost of financing.

The real risk in the market is not a subprime-style collapse the residual value of AI chips is still on the rise, but the increasing cost of financing is quietly eroding the profit margins of the entire industry chain. This is a valuation compression, not an end of the cycle.

NVIDIA Corporation (NVDA.US) has reduced its guarantee scale for OpenAI data centers by more than 50%.

NVIDIA (NVDA.US) has adjusted its support plan for OpenAI's 10GW data center project in Ohio, USA.

AI version of financial innovation: The seller's guarantee model behind the sharp decline of Broadcom Inc. (AVGO.US)

Affected by the market re-pricing due to the credit risk arising from "seller guarantees," Broadcom's stock price has significantly plunged.

"The 'AI Stock God' blew up, dragging down Jane Street with a massive loss of 15 billion in July, marking the first monthly loss in a decade!"

One of the most mysterious and also the most profitable proprietary trading giants on Wall Street, Jane Street, is paying a rare price for an unexpected AI investment storm.

Bank of America names the midterm elections as the "AI Make-or-Break Situation": If the Republicans hold two key positions, there could be further gains ahead.

The strategy team at Bank of America stated that the artificial intelligence-related stocks, which recently experienced significant volatility, will next face the challenge of the U.S. midterm elections.

$60 billion tech acquisition finalized, Musk officially enters the "Vibe Coding" battlefield.

SpaceX (SPCX.US) has completed the acquisition of the artificial intelligence programming startup Cursor, marking an important step for Elon Musk in catching up with competitors like Anthropic and OpenAI.

"AI Version of Financial Innovation": NVIDIA Corporation's "$500 Billion Grand Calculation"

NVIDIA (NVDA.US) is reshaping its business boundaries in an unprecedented waytransforming from a chip manufacturer to an AI infrastructure "financial partner." At the core of this transformation is a new cloud service revenue-sharing model based on the logic of "bottom-line guarantees in exchange for profit sharing."

Anthropic's second-quarter revenue exceeded $11.5 billion, a year-on-year increase of over 14 times.

According to a document, AI chatbot Claude's developer, Anthropic PBC, is revealing to potential investors that its second-quarter revenue has increased by at least 14 times compared to the same period last year.

Opportunities and Concerns of Tencent's (00700) 84.7 Billion Capital Expenditure

Tencent's capital expenditure for Q2 is 52.8 billion yuan, plus a 51.4 billion yuan prepayment for computing power, suggesting that investment in AI infrastructure may have exceeded 100 billion yuan.

The joint intervention by the US and Japan in the yen has been effective, leading to a more than halving of short positions by hedge funds on the yen.

After the historic joint intervention by the United States and Japan, hedge funds further reduced their bearish positions on the yen, indicating a easing of negative sentiment in the market towards the currency.

Informed sources: Nvidia scales back its plan to provide a $250 billion guarantee for OpenAI's data center.

According to sources, Nvidia and OpenAI are about to reach an agreement to finance a large data center campus in Ohio, but they have modified the deal structure: Nvidia initially guaranteed only half of the project, which is worth hundreds of billions of dollars, rather than providing full guarantees. Some insiders said the revised plan has reduced Nvidia's financial guarantee scale from $250 billion to below $120 billion. This adjustment was made to alleviate investors' concerns about the chipmaker's risk exposureNvidia's goal in utilizing its own balance sheet is to boost market demand for its AI chips. The deal could be signed as soon as this weekend.

The situation in Iran has added further uncertainty, putting pressure on U.S. Treasury bonds, with the 10-year yield rising by more than 5 basis points.

U.S. Treasury yields generally rose on Friday.

Chicago Fed Chair Goolsbee: The recent cooling of inflation is encouraging, but more data is needed to confirm a return to the 2% target.

Chicago Federal Reserve President Goolsbee stated that he is encouraged by the recent cooling of inflation in the United States, but he hopes to see similar improvement trends in the coming months before he is convinced that prices are consistently returning to the Federal Reserve's 2% target.

Berkshire Hathaway's successor has started using massive cash reserves! In the second quarter, Berkshire (BRK.A.US, BRK.B.US) increased its holdings in Delta Air Lines, Inc. (DAL.US) and Alphabet (GOOGL.US) with a net purchase of nearly $20 billion in stocks.

Berkshire Hathaway further increased its holdings in Delta Air Lines and Googles parent company, Alphabet, in the second quarter.

NVIDIA Corporation (NVDA.US) has engaged financial giants on Wall Street, such as Goldman Sachs Group, Inc. and Blackstone, to plan a $500 billion AI financing initiative to inject funds for clients to purchase chips.

Nvidia is collaborating with major Wall Street financial institutions such as Goldman Sachs, Blackstone Group, and Apollo Global Management to plan an AI computing power financing scheme worth up to $500 billion.

Overnight US stocks | The three major indices showed mixed performance, with SanDisk (SNDK.US) rising 7.39%.

As of the close, the Dow fell 107.57 points, a decline of 0.2%, closing at 53,732.41 points; the S&P 500 index dropped 13.23 points, a decline of 0.17%, closing at 7,785.76 points; the Nasdaq fell 73.86 points, a decline of 0.28%, closing at 26,729.16 points.

Anthropic's revenue in the second quarter exceeded $11.5 billion, an increase of at least 14 times compared to the same period last year.

According to reports, Anthropic's preliminary revenue for the second quarter exceeded $11.5 billion, growing by at least 14 times compared to $787 million in the same period last year, and also surpassing the $4.73 billion of the first quarter of this year. The company has achieved positive adjusted operating profit for the quarter. Anthropic was once in a position of catching up in the AI race, but thanks to an increasing number of professionals using its software to streamline workflows such as programming, the companys business growth has noticeably accelerated. By May of this year, Anthropic's annualized revenue had surpassed $47 billion. In comparison, OpenAI previously disclosed an annualized revenue of over $40 billion, although the calculations for both may not be entirely consistent. The competition in the AI sector is intensifying, with IPO financing reaching $256.4 billion so far this year, marking a new high since 2021.

US Stock Market Move | The Q3 financial report exceeded expectations comprehensively but still failed to satisfy the market's "appetite." Applied Materials (AMAT.US) saw a nearly 6% drop in early trading.

On Friday, Applied Materials (AMAT.US) fell nearly 6% in early trading, currently reported at $503.94.

US Stock Market Move | The largest issuance of dollar bonds in history has been completed, and Advanced Micro Devices (AMD.US) rose nearly 4% against the trend.

On Friday, Advanced Micro Devices, Inc. (AMD.US) rose nearly 4% in early trading, currently quoted at $500.37.

Expectations for a rate hike in the U.S. in September continue to cool! Retail sales and consumer confidence are weakening, and the market is betting that the probability of maintaining interest rates unchanged has risen to 71%.

As the latest retail sales and consumer confidence data from the United States weaken, market expectations for the Federal Reserve to continue raising interest rates in September further cool down.

A-shares Evening Highlights | July Financial Data Released, Here Comes the Latest Interpretation

July financial data released: the role of direct financing in supporting the market continues to strengthen, experts provide the latest interpretation.

Jinchuan International (02362) announced its interim results, with shareholders' profit attributable to shareholders reaching 47.816 million USD, a year-on-year increase of 766.07%.

Jinchuan International (02362) announced its interim results for 2026, reporting revenue of $460 million, an increase of 152.35% year-on-year; the profit attributable to owners of the company reached $47.816 million, up 766.07% year-on-year; basic earnings per share were 0.36 cents.

CNBM (03323) plans to increase its capital in China National Materials High-Tech.

China National Building Material (03323) announced that on August 14, 2026, China National Materials High-tech (an associate of the company and an indirect non-wholly-owned subsidiary of the parent company) entered into this capital increase agreement and supplemental agreement with the company, North New Building Materials (a subsidiary of the company), the General Institute of Building Materials (a subsidiary of the parent company), China United Investment (a subsidiary of the parent company), and other Party B, Party C, and Party D shareholders.

MIRAMAR HOTEL (00071) announces its interim results, with shareholders' profit attributable to them rising 3.0% year-on-year to HKD 332 million.

The Mandarin Oriental Hotel (00071) announced its mid-year results for 2026, with the group's revenue declining by 9.8% year-on-year to HK$1.168 billion; profit attributable to shareholders increased by 3.0% year-on-year to HK$332 million; basic earnings per share of HK$0.48. A mid-term dividend of HK$0.23 per share is proposed.

MIRAMAR HOTEL (00071) will distribute a mid-term dividend of HKD 0.23 per share on October 9.

Mirae Asset Hotel (00071) announced that it will distribute an interim dividend of HK$0.23 per share for the six months ending June 30, 2026, on October 9, 2026.

HEARTCARE-B (06609) plans to issue A-shares and be listed on the Sci-Tech Innovation Board of the Shanghai Stock Exchange.

Heartway Medical-B (06609) announced that the board of directors proposes to apply to the relevant regulatory authorities in China for the allocation and issuance of no more than 7,025,592 shares of the company's A-shares, as well as to apply to the Shanghai Stock Exchange for approval for the listing and trading of A-shares on the Sci-Tech Innovation Board.

BAIWANG CO (06657) issues a profit warning, expecting a net loss of approximately 25 million to 45 million yuan, a year-on-year shift from profit to loss.

Baiwang Co., Ltd. (06657) announced that the group expects to record (1) total revenue of approximately RMB 290 million to RMB 310 million for the six months ending June 30, 2026, compared to total revenue of RMB 348 million for the same period in 2025; (2) a net loss of approximately RMB 25 million to RMB 45 million, while the net profit for the same period in 2025 was RMB 3.6 million; and (3) an adjusted net loss of approximately RMB 20 million to RMB 40 million, while the adjusted net profit for the same period in 2025 was RMB 4.6 million.

US Stock Market Move | Tesla, Inc. (TSLA.US) is expected to unveil its "cool air propulsion" Roadster this month, and the stock rose over 3% at one point.

On Friday, Tesla (TSLA.US) surged more than 3% at the start of trading, marking a cumulative increase of 15% since the low at the end of July, currently trading at $344.30.

PETRO-KING (02178) announced its interim results, reporting a loss attributable to shareholders of 35.325 million Hong Kong dollars, an increase of 199.54% year-on-year.

Baiqin Oil Services (02178) announced its interim results for the six months ending June 30, 2026, with the group reporting revenue of HK$48.125 million, a decrease of 56.75% year-on-year; the loss attributable to the company's owners amounted to HK$35.325 million, an increase of 199.54% year-on-year; loss per share was HK$0.0205.

US Stock Market Move | Broadcom Inc. (AVGO.US) fell as much as 5%, making it the largest decliner among S&P 500 components.

As of the time of publication, the stock has dropped by 4.75%, trading at $398.05.

YUEYUN TRANS (03399) released its interim results, with a net profit attributable to shareholders of 171 million yuan, an increase of 20% year-on-year.

Yueyun Transportation (03399) announced its interim results for 2026, reporting a revenue of 3.738 billion yuan, a year-on-year decrease of 1%; net profit attributable to shareholders of the parent company was 171 million yuan, an increase of 20% year-on-year; basic earnings per share were 0.21 yuan.

U.S. consumer confidence declined for the first time in three months in August, with the one-year inflation expectation rising to 4.3%.

In August, U.S. consumer confidence declined for the first time in three months, as households grew increasingly concerned about the deteriorating business environment and rising prices. Consumers' outlook on both the short-term and long-term prospects of the U.S. economy has weakened.

HK CHINESE LTD (00655) issued a profit warning, expecting a mid-term comprehensive loss attributable to shareholders of approximately HKD 450 million, turning from profit to loss year-on-year.

Hong Kong Chinese Limited (00655) announced that it expects the Group to record a loss of approximately HK$440 million from its share of joint ventures for the six months ending June 30, 2026 (the current period), compared to a profit of HK$189 million from its share of joint ventures for the six months ending June 30, 2025 (the prior period). The loss from the Group's joint ventures is mostly non-cash in nature and primarily comes from the losses of investments accounted for using the equity method in the OUE Group and impairment losses recognized on its investment in an entity accounted for using the equity method.

As of the end of July, the comprehensive net asset value per share of PROSP INV HOLD (00310) is approximately HKD 0.03.

Jiajin Investment International (00310) announced that the unaudited consolidated net asset value per share as of July 31, 2026, is approximately HKD 0.03.

JILIN CHANGLONG (08049) announced its interim results, with profit attributable to shareholders amounting to 123 million yuan, a year-on-year increase of 19.25%.

Jilin Changlong Pharmaceutical (08049) announced its interim results for 2026, reporting a revenue of 436 million yuan, a year-on-year decrease of 0.87%; the profit attributable to shareholders was 123 million yuan, a year-on-year increase of 19.25%; earnings per share were 21.92 cents.

Shenzhen Zhaowei Machinery & Electronics (02692) announced its mid-year results for 2026, reporting a net profit attributable to shareholders of 74.6457 million yuan, a year-on-year decrease of 34.1%.

Zhaowei Electromechanical (02692) released its 2026 semi-annual report, showing an operating income of 816 million yuan, a year-on-year increase of 3.80%; the net profit attributable to shareholders of the listed company was 74.6457 million yuan, a year-on-year decrease of 34.10%; the basic earnings per share were 0.30 yuan.

YAN PALACE (01497) will distribute an interim dividend of 2.17 yuan for every 10 shares on September 24.

Yanzhiyu (01497) announced that the company will distribute a mid-term dividend of 2.17 RMB for every 10 shares on September 24, 2026.

Latest

4 m ago

Market news: Explosions have been reported in the southern region of Isfahan, Iran.

4 m ago

A traffic accident occurred in northwestern Algeria, resulting in 6 deaths and 31 injuries.

8 m ago

Berkshire's second-quarter holdings revealed

11 m ago

The total number of electric vehicle charging infrastructure in our country exceeds 23 million.

12 m ago

Naipu Mining Machinery: The gross margin overseas is expected to further improve in the future.

Seeking Coverage

Being Writer

Exploring Cooperation