A-share evening hot topic | Concerning stablecoins! Hong Kong Monetary Authority speaks out

1. Hong Kong Monetary Authority and Securities and Futures Commission issue joint statement on stable coin market fluctuations Importance: The Hong Kong Monetary Authority and the Hong Kong Securities and Futures Commission have issued a joint statement regarding market fluctuations related to stable coins. The Monetary Authority reiterates that a cautious and prudent approach will be taken when considering stable coin issuer license applications, with high thresholds being set. The Monetary Authority emphasizes that expressing intent or submitting a stable coin license application, as well as communication with the Authority and relevant institutions, is just part of the application process, and whether a license is ultimately granted will depend on whether the application meets the licensing conditions. Given the significant uncertainty surrounding these plans or application outcomes, the recent fluctuations driven by market sentiment or speculation highlight the importance of vigilance during market fervor. Significant stock price fluctuations can lead to irrational decision-making, exposing investors to unnecessary risks. 2. PBOC to conduct 500 billion reverse repurchase operation on August 15th, what are the implications? Importance: On August 14th, the People's Bank of China announced that it will conduct a 500 billion yuan reverse repurchase operation on August 15th to maintain liquidity in the banking system. Market analysts believe that this reverse repurchase operation will inject a net 500 billion yuan into the market, supplementing liquidity and helping to alleviate funding pressures in the interbank market in mid-August. 3. 523,400 investors participate in margin trading and short selling transactions, setting a new high for the year Importance: On August 13th, the number of investors participating in margin trading and short selling transactions reached 523,400, setting a new high for the year and exceeding the previous high of 521,400 on February 21st. Compared to the previous trading day, the number of investors increased by 46,100, representing a 9.67% increase. As of August 13th, the number of individual investors participating in margin trading and short selling was 7.5568 million, with 50,004 institutional investors and 1.7218 million investors with margin trading and short selling liabilities. 4. Energy storage industry fights against internal competition, with 149 units actively participating Importance: China National Chemical Engineering and the Physical Power Industry Association jointly issued a draft soliciting opinions on the "Call for Maintaining Fair Competition Order and Promoting Healthy Development of the Energy Storage Industry." A total of 149 units actively participated. It emphasizes that fair pricing and fair competition encourage member units to participate in market competition based on technology, service, reputation, and performance capabilities. Companies should quote based on their own operating conditions, cost assessments, and project risks to avoid irrational low-price behavior and prevent "bad money driving out good money." 5. 2 trillion mega trading volume reappears! A-shares have only experienced this 5 times this year, with hot money piling into these tracks Importance: In recent times, market enthusiasm has been on the rise. As of the close on the 14th, there have been two trading days this week with a trading volume of over 2 trillion yuan, accounting for nearly 40% of all "2 trillion trading days" this year. By industry sector, in the two days of the "2 trillion" mega trading volume, the electronic, computer, machinery equipment, power equipment, and pharmaceutical biotechnology sectors accounted for a significant proportion of the total trading volume in the market. 6. Bullish on Chinese economic prospects, several investment banks have upgraded their ratings on Chinese assets to "overweight" Importance: In July, the month-on-month Consumer Price Index (CPI) in China turned from a decline to an increase, rising by 0.4%; the month-on-month Producer Price Index (PPI) narrowed its decline by 0.2 percentage points; the year-on-year growth of goods trade imports and exports was 6.7%, 1.5 percentage points faster than in June... After the release of the half-year report on the Chinese economy, several institutions have raised their growth forecasts for the Chinese economy in 2025. Credit Suisse and Nomura have raised their forecasts by 0.7 and 0.1 percentage points respectively. On July 29th, the International Monetary Fund significantly raised its growth forecast for the Chinese economy this year by 0.8 percentage points. Prior to this data release in June, Citigroup had already raised its GDP growth forecast for China in 2025 from 4.7% to 5%. 7. Leveraged customers owe futures companies 4.64 million! Warning from the Lithium Carbonate Futures Market Importance: Recently, there have been reports in the market that in the recent significant volatility in the lithium carbonate futures market, some investors who shorted lithium carbonate were liquidated, losing all their initial capital of 16 million yuan and owing the futures company 4.64 million yuan. This serves as a warning to all futures traders to exercise risk control. 8. China Telecom Corporation reports a net profit of 23 billion yuan in the first half of the year, with plans to distribute a mid-term dividend of 16.58 billion yuan Importance: On the evening of August 14th, China Telecom Corporation (601728) disclosed its interim report for the first half of 2025. In the first half of the year, the company's operating income was 269.4 billion yuan, a year-on-year increase of 1.3%; net profit attributable to shareholders of the listed company was 23 billion yuan, a year-on-year increase of 5.5%. In terms of dividends, the company has decided to continue distributing a mid-term dividend for 2025, with a cash distribution of profits amounting to 72% of the company's net profit for the first half of the year, equivalent to 0.1812 yuan per share (after tax), an 8.4% increase year-on-year, totaling 16.58 billion yuan. 1. US stock market indices collectively decline, popular Chinese stocks see a pullback US stock market indices collectively declined, with the Dow falling by 0.25%, the Nasdaq falling by 0.01%, and the S&P 500 index falling by 0.13% as of 22:00. In terms of focus stocks, popular Chinese stocks experienced a pullback, with Alibaba falling by more than 3%; Coherent fell by over 20% after announcing the sale of its aerospace and defense business for $400 million. 2. Trump signs executive order to ease regulation of the aerospace industry On August 13th, US President Trump signed a new executive order aimed at streamlining regulation, promoting competitive commercial aerospace industry development, and ensuring that the US maintains its global leadership position in the commercial space sector. This order is seen as the latest action by Trump to continue his transformative initiatives in the aerospace industry during his first term. 3. Rate cut expectations dealt another blow, Fed's Daly: No need for significant rate cut in September There is growing internal debate within the Federal Reserve regarding a rate cut in September. On Wednesday, San Francisco Fed President Mary Daly unequivocally stated her opposition to a significant 50-basis-point rate cut at the September meeting, believing that such a move could send an unnecessary emergency signal. Meanwhile, Chicago Fed President Evans urged the Fed not to rush into rate cuts before inflation is fully under control, highlighting clear internal divisions within the Fed on the pace of rate cuts. 4. US threatens India with additional tariffs, secondary tariffs may be increased US Treasury Secretary Scott Bessent has warned that Washington may impose additional tariffs on India. He stated that the decision will depend on the outcome of President Trump's meeting with Russian President Putin in Alaska on Friday. "We have imposed secondary tariffs on India for buying Russian oil. I believe that if things do not go well, sanctions or secondary tariffs could escalate," Bessent said in an interview with Bloomberg on Wednesday. In reviewing market-favored investment opportunities, attention should be paid to the low-altitude economy, among others. 1. Guizhou: Key area low-altitude infrastructure construction to be basically completed by 2027 The General Office of the Guizhou Provincial People's Government recently issued the "Three-Year Action Plan for the High-Quality Development of Guizhou's Low-Altitude Economy (20252027)", which mentions that by 2027, the low-altitude economy in the province will develop to a certain scale; the low-altitude airspace management mechanism will be basically established, the low-altitude management system will operate effectively, the construction of key area low-altitude infrastructure will be basically completed, the low-altitude smart network will be increasingly improved, and the low-altitude public service guarantee system will be established. Northeast points out that the low-altitude economy, as an industry with the potential for trillion-dollar space, is currently unfolding, becoming a catalyst for industry innovation, developing new quality production forces, and expanding domestic demand consumption. The low-altitude economy industry is in a period of "policy + accelerated commercialization process of new products" resonance, with the industry poised for growth. Emerging industries such as eVTOL and drones are in an accelerating penetration phase. In addition to this, the following sectors are worth noting: 2. AR Glasses | Alipay partners with Lubo AR glasses to create the world's first full-color glasses payment. 3. Duty-Free | Shenzhen's first city duty-free store is here! Opens on the 26th to welcome customers. In terms of slightly positive announcements, attention should be paid to Kangda New Materials' proposed acquisition of quality assets, among others; in terms of slightly negative announcements, beware of Mengke Pharmaceutical's share reduction, among others. Slightly positive announcements 1. Kangda New Materials: Proposes to acquire 51% equity of CEC Huawei for 275 million yuan, incorporating high-quality assets in the special integrated circuit design and testing field. 2. Jiangsu Hengrui Pharmaceuticals: Subsidiary receives Clinical Trial Approval Notice for SHR-7782 Injection. 3. Wolong Electric Group: Submits application for H-share issuance and listing to the Hong Kong Stock Exchange. 4. China Telecom Corporation: Net profit for the first half of the year is 23.02 billion yuan, plans to distribute an interim dividend of 16.58 billion yuan. 5. China Shipbuilding Industry: Submitted an application to voluntarily delist A-shares on August 14th. 6. Kunming Chuan Jin Nuo Chemical: Net profit for the first half of the year is 177 million yuan, a year-on-year increase of 166.51%. 7. Tianjin Pharmaceutical Da Ren Tang Group Corporation: Net profit for the first half of the year is 1.928 billion yuan, a year-on-year increase of 193.08%. Slightly negative announcements 1. Mengke Pharmaceutical: Shareholder Mengke Hong Kong plans to reduce its stake by up to 3% in the company. 2. Tibet Tourism: Shareholder Tibet Investment Group plans to reduce its stake by up to 0.97% in the company. 3. Xinjiang Baodi Mining: Net profit for the first half of the year is 61.592 million yuan, a year-on-year decrease of 40.11%. 4. Han's Memory: The company's preordered large volume of board orders from a manufacturer and related information is untrue. 5. Zhejiang Narada Power Source: Net loss for the first half of 2025 is 232 million yuan, from profit to loss. 6. Guangdong Misun Technology: Shareholder Runke Investment plans to reduce its stake by up to 3% in the company. This article is reproduced from "Tencent Zixuan Stock". GMTEight editor: Li Fo.