HSI -278pts (-1.1%) 25,416 HSCEI -139pts (-1.5%) 8,937 T/O HK$138.57bn (-15.2% DoD)
Markets opened lower rebounded and then drifting lower following the weakness in Asian, European data mixed and caution ahead of US GDP, Initial Claims and Jackson Hole tomorrow.
Households Jul +4.2% YoY vs +4% Jun (F/cast was 4%)
Companies Jul +1.7% YoY vs 1.8% Jun revised (F/cast was 1.8%)
M3 Jul +7.6% YoY vs +8.3% Jun (F/cast was +7.8%)
Later ECB Monetary Policy Meeting Accounts.
Consumer Confidence Sept -1.2% vs -0.4% Aug revised (-1.6%)
Business Confidence Aug 110 vs 109 Jul revised (F/cast was 111)
Business Climate Indicators Aug 110 vs 113 Jul (F/cast was 114)
Car production Jul -37.6% YoY vs 22.1% Jun (F/cast was -12%)
Opened Dow +25pts, S&P +0.03%, NDX flat, at Asian lunch were; Dow-30pts, S&P -0.2% and NDX -0.24% but now Dow flat, S&P -0.1% and NDX -0.2%
Ahead AHEAD GDP Price Index, Corporate Profits, Initial Claims, 4 Week Ave, Continuing Claims, PCE Prices, Core PCE Prices, EIA Gas Report, Kansas Fed Manufacturing Index.
Earnings: HP, Dell, Gap, Abercrombie and Fitch, Dollar General, Dollar Tree, Hain’s Celestial, Ulta Beauty, Peloton, Workday, VMWare, Ollie’s Bargain, Marvell, Toronto-Dominion, Sanderson Farms
CHINA CSI 300 closed -97pt (-2%) @ 4,802
CSI 300 opened lower and trended lower with selling until found support at 4,820 level At lunch -68pts (-1.4%) @ 4,830. PM saw the selling pressure continue and a sharp sell off in the last 30 minutes saw market closed on its lows. China’s T10 fell by the most in two weeks. New Energy Vehicles under pressure on the expectation of changing policy.
Moutai names weak on news Beijing cutting wholesale prices to stabilise the market pre Mid-Autumn festival.
Shanghai Composite -39pts (-1.1%) @ 3,502 T/O US$86.4bn +3.8% DoD
Shenzhen Composite -282pts (-1.9%) @ 14,416 T/O US$115.1bn +3.4% DoD
ChiNext Composite Index -73pts (-2%) @ 3,553
China's National Health Commission reported 26 COVID-19 confirmed cases with 23 of them being imported cases and 3 being local infections (all in Yunnan).
Pre market opened @ 25,673 -20pts vs +71pts ADR’s results in focus with strength in Xiaomi and Mengniu Dairy (shorted recently). Market tested yesterday’s close in early trades but with out success and after 30 minutes the market trended lower through the morning to -370pts (-1.4%) @ 25,324 at lunch. PM saw and initial uptick but then the selling resumed until 3pm (25,256). After China closed market worked high and tick up in the auction.
Healthcare and Ecommerce leading the declines but every sector except Consumer Staples in the red.
Evergrande -6.6% on profit warning but NEV -18% real concerns about how Evergrande is going to find the necessary cash. -VE cross read to other Chinese developers.
ACC Tech -10% and Sunny Optical -4%. Another big day for earnings with many stocks closing lower although volumes were light.
Leaders were Macau names and Rail
EARNINGS aprox 335 HK companies due Friday including: China Aerospace (31), Far East (36), Shangri La Asia (69), Clear Media (100), Shenzhen Int (152), Jiangsu Exp (177), Citic (267), BYD Electronic (285), Angang Steel (347), Jiangxi Copper (358), Sinopec (386), Gome (493), SiS (529), Tiande Chem (609), Kerry Logistics (636), China High Speed Trans (658), Tongda (698), Shangdong Xinhua Pharma (719), Skyworth (751), Air China (753), Solargiga (757), ZTE (763), Global Brands (787), Global Biochem (809), Beijing Jungkelong (814), Tianneng Power (819), Mingfa (846), Anhui Conch (914), China Longyuan Power (916), CCB (939), Chaowei Power (951), SMIC (981), Aeon Stores (984), Anhui Exp (995), China Southern (1055), Huadian Power (1071), Dongfeng Elec (1072), China Shenhua (1088), Tibet Water (1115), Qingling Motor (1122), Harbin Elec (1133), Yanzhou Coal (1171), BYD (1211), Symphony (1223), China Cinda (1359), ICBC (1398), Postal Savings Bank (1658), CRRC (1766), GF Sec(1776), KWG (1813), China Mingsheng Bank (1988), China Sunshine Paper (2002), SSY (2005), China Vanke (2202), GtWall Motor (2333), Dawnrays Med (2348), Baoye (2355), AviChina (2357), China Pac Ins (2601), China National Building Materials (3323), BoComm (3328), Qinhuangdao Port (3369), SinoTruk (3808), Town Health (3886), Global Sweeteners (3889), CanSino Biologics (6185)
HONG KONG DATA
HK reported 3 new covid cases; all imported.
Imports Jul +26.1% YoY vs 31.9% Jun
Exports Jul +26.9% YoY vs 33% Jun
Balance of Trade Jul HK$-34.9b vs -40.5b Jun (F/cast was -39b)
SHORT SELLING Thursday 21.4% vs 14.9% Wednesday
Top shorts Hengan (1044) 50%, Bank Comm (3328) 49%, Sunny Optical (2382) 46%, Ali Health (241) 41%, Bank of China (3988) 41%, Country Garden (2007) 41%, Xiaomi (1810) 39%, CLP (2) 38%, New World Development (17) 37%, AIA (1299) 37%, Sino Biopharm (1177) 36%, AAC Tech (2018) 36%, Henderson Land (12) 35%, CKI (1038) 31%, HKEX (388) 31%, Haidilao (6862) 31%, CCB (939) 31%, CSPC Pharma (1093) 31%, SHKP (16) 31%, HSBC (5) 30%, Hang Lung Ppty (101) 28%, MTRC (66) 26%, Shenzhou (2313) 26%, BYD (1211) 26%, Geely (175) 25%, China Life (2628) 25%.
Many of the names are the same as yesterday
RESULTS after market
NCI(01336.HK) -0.150 (-0.676%) Short selling $12.77M; Ratio 22.435% announced interim result ended June 2021. The revenue rose 12.3% year on year to RMB130.386 billion. The net profit amounted to RMB10.546 billion, up 28.3% year on year. EPS was RMB3.38.
PETROCHINA (00857.HK) Short selling Ratio 18.974% announced the interim results for the six months ended 30 June 2021. The revenue for the period stretched 28.8% YoY to RMB1.196581 trillion. Net profit of RMB53.037 billion was recorded, compared to a loss of RMB29.983 billion for the corresponding period of previous year. Operating profit amounted to RMB88.463 billion, compared to a loss of RMB6.043 billion in the year-ago period. EPS was RMB0.29. An interim dividend of RMB13.04 fen was declared, against a dividend of RMB8.742 fen for the corresponding period of previous year.
PING AN (02318.HK) -1.500 (-2.362%) Short selling $381.17M; Ratio 23.268% announced the interim results. Net profit decreased 15.5% year on year to RMB58.005 billion. EPS was RMB3.29. The Company declared an interim dividend of RMB0.88 per share. New business value fell by 11.7% year on year to RMB27.387 billion.
CHINA EB LTD(00165.HK) announced interim result ended June 2021. The turnover rose 68.5% year on year to HK$15.277 billion. The net profit amounted to HK$1.781 billion, up 132.7% year on year. EPS
was HK$1.057. An interim dividend of HK$0.28 was declared against a dividend of HK$0.14 in the corresponding period of the previous year.
COSCO SHIP PORT(01199.HK) announced interim result ended June 2021. The revenue rose 24.8% year on year to US$565 million. The net profit amounted to US$176 million, up 7.5% year on year. EPS was US5.3 cents. An interim dividend of HK16.4 cents was declared.
AFTER MARKET NEWS
EVERGRANDE (03333.HK) -0.330 (-7.237%) Short selling Ratio 17.618% sold its football stadium and the relevant apartments in the Panyu District of Guangzhou to Guangzhou City Construction Investment (GZCI), Chinese media citing sources. The football stadium is adjacent to the Guangzhou South Railway Station, with a total investment of RMB12 billion, reported Guandian Real Estate New Media. It has a site area of 150,000 sq.m. and a gross floor area of about 300,000 sq.m., with a seating capacity of 100,000 people.
Apple (AAPL.US) is weighing to raise the soon-to-debut iPhone 13 price in a bid to alleviate the cost burden from TSMC (TSM.US)'s price hike, Taiwan media reported. TSMC will ramp up chip price on Apple by 3-5%, people familiar with the matter said.
The Macao Government Tourism Office announced 21,000 visitor arrivals yesterday (25 August), retrieving a single-day visitation of 20,000.
Market opened lower and sold down to 7,480 in the first 40 minutes before finding support and then rebounded to 7,514 around 1pm and now trending lower. Market found support at 7,480 level bounced, retested and then ticked higher to close -41pts (-0.54%) @ 7,491
Earnings remain the main focus with weakness in Appen, Endeavour, a2 Milk and Link, but Qantas, Woolies and Flight Centre shares rose. Commodity names +VE as Oil and Iron ore prices rose.
Data Private Capital Expenditure Q2 +4.4% QoQ vs +6% Q1 Revised (F/cast was +2.6%)
Nikkei opened higher but trended lower through the morning to a low of 27,685 just before lunch. PM opened higher around flat and traded sideways to close +18pts (+0.06%) @ 27,742.
Topix traded in a similar fashion closed flat @ 1,935 but on very light volumes (-17% DoD).
Chip makers in focus on TSMC price hike and Western Digital/Kioxia merger news. Shippers seeing some weakness, Value/Rates names seeing +VE interest following the BoK rate hike.
PM Suga getting key LDP support slightly +VE for sentiment along with the drop in covid cases.
Leaders Airlines, Iron/Steel, Rail
Laggards Paper, Misc Products, Chemicals.
KDCA announced 1,882 new covid cases (-273 DoD) and 52.7% of people vaccinated. +VE BoK raised interest rate to 0.75% which surprised many and prompted a wave of selling coming as it does after warnings about the levels of household debt. Foreigner and Local Institutions selling
Kospi opened higher at 3,151 and initially ticked higher but then trended lower to 3,123 around 1pm before working slightly better to close -18pts (-0.6%) @ 3,129.
Heavy selling of Internet; NCSoft -15% as new game Blade and Soul 2 fails to get good traction. Tech trading around neutral. Steel weak. Financial slight +VE on BoK rate rise.
Kosdaq traded up to 1,026 in early trades but sold down on BoK decision; rebounded but then trended lower again found support at 1,016 and then worked better to close +3pts (+0.3%) @ 1,020
Taiex opened higher but sold down to find support at 17,000 and worked higher from midday to close +21pts (+0.1%) @ 17,067.
Tech under pressure after recent gains and news of price increases from TSMC and UMC. Shipping also seeing recent gains locked in.
T/O was US$13.34bn vs US$12.86bn Wednesday
CECC reported 8 new covid cases (6 imported).
Northbound RMB 60,492m Sell 29,342m vs 31,150m Buy
Southbound HK$ 15,964m Sell 8,499m vs 7,465m Buy
Northbound RMB 71,552m Sell 36,066m vs 35,486m Buy
Southbound HK$ 17,452m Sell 9,832m vs 7,621m Buy
PING AN (02318.HK) -1.500 (-2.362%) Short selling $381.17M; Ratio 23.268% closed at $62, down 2.4%
AIA (01299.HK) -1.450 (-1.520%) Short selling $471.02M; Ratio 36.952% closed at $93.95, down 1.5%
BABA (09988.HK) -1.900 (-1.158%) Short selling $893.84M; Ratio 21.140% closed at $162.2, down 1.2%
TENCENT (00700.HK) -2.800 (-0.590%) Short selling $644.71M; Ratio 7.880% closed at $471.8, down 0.6%
MEITUAN (03690.HK) -0.200 (-0.088%) Short selling $375.80M; Ratio 9.619% closed at $226.8, down 0.1%
HSI & HSCEI Constituents on Move:
AAC TECH (02018.HK) -4.700 (-10.032%) Short selling $667.28M; Ratio 35.908% closed at $42.15, down 10%
KUAISHOU-W (01024.HK) -7.100 (-9.161%) Short selling $1.01B; Ratio 26.597% closed at $70.4, down 9.2%
EVERGRANDE (03333.HK) -0.330 (-7.237%) Short selling $51.20M; Ratio 17.618% closed at $4.23, down 7.2%
SHENZHOU INTL (02313.HK) -8.700 (-5.091%) Short selling $404.62M; Ratio 25.798% closed at $162.2, down 5.1%
JD HEALTH (06618.HK) -3.800 (-5.013%) Short selling $510.45M; Ratio 30.041% closed at $72, down 5%
CM BANK (03968.HK) -2.950 (-4.319%) Short selling $614.97M; Ratio 45.954% closed at $65.35, down 4.3%
LONGFOR (00960.HK) -1.600 (-4.301%) Short selling $43.36M; Ratio 16.311% closed at $35.6, down 4.3%
CSPC PHARMA (01093.HK) -0.420 (-4.015%) Short selling $164.72M; Ratio 30.781% closed at $10.04, down 4%
BYD COMPANY (01211.HK) -10.000 (-3.754%) Short selling $413.24M; Ratio 25.570% closed at $256.4, down 3.8%
XIAOMI (01810.HK) -0.900 (-3.550%) Short selling $2.69B; Ratio 38.625% closed at $24.45, down 3.6%
MENGNIU DAIRY (02319.HK) +1.550 (+3.539%) Short selling $164.02M; Ratio 16.670% closed at $45.35, up 3.5%
WUXI BIO (02269.HK) -4.200 (-3.468%) Short selling $375.99M; Ratio 19.892% closed at $116.9, down 3.5%
SUNNY OPTICAL (02382.HK) -7.000 (-3.119%) Short selling $298.23M; Ratio 46.000% closed at $217.4, down 3.1%
HSMI & HSSI Constituents on Move:
E-HOUSE ENT (02048.HK) -0.500 (-18.182%) Short selling $757.66K; Ratio 3.538% closed at $2.25, down 18.2%
CNLP (01589.HK) +0.510 (+13.747%) Short selling $83.18M; Ratio 16.060% closed at $4.22, up 13.7%
DONGYUE GROUP (00189.HK) +1.100 (+4.803%) Short selling $98.63M; Ratio 8.653% closed at $24, up 4.8%, hitting new high
CHINA WATER (00855.HK) +0.260 (+3.591%) Short selling $836.86K; Ratio 2.082% closed at $7.5, up 3.6%, hitting new high
RESULTS at lunchtime
CSPC PHARMA (01093.HK) -0.420 (-4.015%) Short selling Ratio 38.338% announced the interim results ended June 2021. The Group achieved a revenue of RMB13.822 billion, representing an increase of 9.8% year-on-year. For the first half of 2021, the Group achieved a net profit of RMB3.063 billion, representing an increase of 32.3% year-on-year. EPS equaled RMB25.62 cents. The Group declared the payment of an interim dividend of HK8 cents per share.
MINMETALS LAND(00230.HK) announced interim result ended June 2021. The revenue rose 84.3% year on year to HK$4.926 billion. The net profit amounted to HK$61.406 million, up 13.1% year on year. EPS was HK1.83 cents. No dividend was declared.
SHENZHOU INTL (02313.HK) -11.600 (-6.788%) Short selling Ratio 19.239% announced the interim results for the six months ended 30 June 2021. The revenue for the period amounted to RMB11.369 billion, up 11.1% YoY. Net profit slumped 11.4% YoY to RMB2.226 billion. EPS was RMB1.48. An interim dividend of HKD1.06 was declared, against a dividend of HK90 cents for the corresponding period of previous year.
POLY PROPERTY(00119.HK) +0.040 (+1.951%) announced interim result ended June 2021. The revenue rose 8.4% year on year to HK$14.074 billion. The net profit amounted to HK$1.663 billion, up 100.8% year on year. EPS was HK45.42 cents. No dividend was declared.
At the launch ceremony today (26th), the Tongzhou District Committee, the Beijing municipal government, the National Government Offices Administration's Beijing branch and BIDU-SW (09888.HK) Short selling Ratio 29.081% 's Apollo unveiled the self-driving operating route for Beijing Municipal Administrative Center, reported Chinese media.
Fitch Ratings reported that Chinese power companies's credit metrics are predicted to weaken within this year due to the pressure on profit margins induced by the recent rally in coal price. However, the magnitude of the impact may vary due to the differences in the exposure to coal price fluctuation in different companies, depending on their respective fuel structure, business and geographical diversification, degree of integration and coal procurement strategy, the rating institution added.
TENCENT (00700.HK)'s Interactive Entertainment Group (IEG) announced a series of department and personnel changes after the merger between HUYA and DouYu International Holdings Limited (DOYU.US) had been halted, reported Jiemian News. A Penguin eSports product center was said to be established for Penguin eSports' product R&D, operation and promotion. In reply, TENCENT said Penguin eSports has been running steadily and is not a newly-built team. Rumors on the reboot and revitalization are untrue, the giant added.
The PC shipment in the U.S. hiked 17% YoY over 2Q, shipping a total of over 36.8 million units of desktops, notebooks, tablets and workstations, according to a report published by Canalys. HP (HPQ.US) was crowned number one with a 21.9% market share, shipping 8.07 million units, up 20.2% YoY. Apple (AAPL.US) was ranked second as its shipment slumped 2.8% to 7.603 million units. Dell (DELL.US) and LENOVO GROUP (00992.HK) Short selling Ratio 30.671% , which were third and fourth, tracked a YoY shipment growth of 10.5% and 25.2% respectively.
TikTok is scheduled to partner with Shopify (SHOP.US) to launch an in-app shopping function, allowing TikTok users to purchase products directly within the application and pay through Shopify's e-commerce platform.
CHINA RES MIXC (01209.HK) Chairman Li Xin, when asked about EVERG SERVICES' disposal at the results conference, clarified that the company has not received any formal invitation but has heeded the offer, stressing eyeing the matter doesn't mean they will buy the project, Chinese media reported.
The blow from food safety issues since August has been no less detrimental on NAYUKI (02150.HK) than that from the Covid-19 pandemic, said Co-founder Zhao Lin.
CATL (300750.SZ) is considering buying a 10% stake in JINCHUAN INTL (02362.HK), reported Bloomberg. Spurred by the news, shares of JINCHUAN INTL skyrocketed over 50% to $1.58. The discussion of CATL's stake purchase remains at preliminary stage, report said, and CATL may decide not to buy ultimately.
CHINA LIFE (02628.HK) -0.080 (-0.616%) Short selling $33.69M; Ratio 28.153% 's VNB declined by 19% YoY over 1H to RMB29.867 billion. The company's president Su Hengxuan expressed at the result meeting that the overall insurance sector is still facing enormous pressure as the people's diminishing spending sentiment was reflected on their investments in insurance and wealth management products, coupled with slower China's economic growth in 2Q than 1Q. Su, however, remarked that the near-term challenges which the industry is withstanding are merely temporary and restated his confidence in the positive outlook of Chinese economy in the long-term. Su said that CHINA LIFE will endeavour to further strengthen the asset-liability interaction and their coordinated management, while maintaining prudent operation and stable development.
The Hong Kong government announced that, starting on August 30, foreign domestic helpers (FDHs) who were fully vaccinated in Indonesia or the Philippines may come to work in Hong Kong from Group A specified places. A government spokesman expressed that the Hong Kong government has concluded bilateral vaccination record recognition agreements with the governments of Indonesia and the Philippines.
Overnight HIBOR last posted at 0.03753%, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.06268%, marking a 1-month low.
EVERGRANDE (03333.HK) -0.350 (-7.675%) Short selling $31.03M; Ratio 19.002% is planning to relocate some of its departments and employees to Guangzhou from Shenzhen, and has started the relevant preparation, Chinese media reported. The involved name list has already been submitted to the group. The group's spokesman responded that the rumor about moving some of its departments and employees to Guangzhou from Shenzhen is false.
Tencent's love-themed mobile game "Light and Night" announced yesterday (25th) that it will undergo second phase of upgrade to groom healthier online game environment for adolescents, Chinese media reported. From 00:00 25 September, any teenage users who are found under 18 by the Chinese Public Security will be unable to log in to the game experience. The game was said to become the first mobile game in China that bans underaged for playing.
SINOPEC CORP (00386.HK) announced Sinopec Northwest Oil Field Company's deployment of the Shunbei 44X well, a key exploration well of the Shunbei oil and gas field in China's Tarim Basin. The branch has recently tested over 1,000 tonnes of oil and gas equivalent, symbolizing a major discovery of a 100-million-tonne oil and gas area in the No. 4 fault zone of the Shunbei oil and gas field. Up to now, SINOPEC CORP has proven over 200 million tonnes of oil and gas reserves in that area.
U.K.'s investment minister Gerry Grimstone expressed that the country is not becoming protectionist and that it welcomes any Chinese investment that is beneficial to the U.K. Britain's new national security and investment bill will be introduced in January next year, with the aim to deter investments from Chinese firms in the U.K.'s telecommunication and nuclear energy sectors.
Local brokers reported last night that some of their clients could not transact after delivering HSCEI order onto the market during night session. According to preliminary investigation, the Hong Kong Futures Exchange (HKFE) was beset by line fault. HKEX (00388.HK) responded that they are aware of a small number of brokers reporting an issue with trade confirmation in the after hours market, and are investigating the issue. All other trading in the after hours market is unaffected.
DiDi Global Inc. (DIDI.US) has been proceeding with its automobile production project and hired over 100 new staff for the auto manufacture department as of the end of last month, handling various aspects including design, engineering, merchandizing and logistics, reported South China Morning Post, citing sources.
Vivo led the Asia Pacific market in 5G shipment over 2Q with a market share of 20%, according to a report published by Strategy Analytics. Vivo's annual shipment leaped 215% and is believed to have capitalized on the decline of Huawei with affordable smartphone products. XIAOMI-W (01810.HK) -1.250 (-4.931%) Short selling $1.55B; Ratio 39.944% was ranked second in the region with its 5G smartphone shipment hiking 286% YoY in 2Q. Oppo, Apple (AAPL.US) and Samsung were ranked third to fifth respectively.
Massive financing is necessary to achieve carbon neutrality and a sustainable economic transformation, opined HKEX (00388.HK) Chairman Laura Cha. Meanwhile, HKEX is pushing listed companies to beef up their ESG management, with full support for the development of green finance products, she added.
PRE MARKET NEWS
The government announced that it will extend the 35 existing groups of waivers/concessions of government fees and charges as well as the rental or fee concessions applicable to eligible government properties and eligible short-term tenancies and waivers to sustain the support for businesses and individual sectors in view of the on-going impact of coronavirus disease 2019 (COVID-19) on economic activities.
WeChat Mini-program has launched a special campaign to rectify chaos within "fanquan" (i.e. fan circles) and eradicate non-compliant mini-programs, according to Chinese media. From 24 June to 17 August, WeChat was known to have inspected 85 compliant mini-programs and banned their payment function.
After the proposed merger of HUYA Inc. (HUYA.US) and DouYu (DOYU.US) was halted, TENCENT (00700.HK)'s IEG announced a series of department and personnel shake-up to found Penguin Esports product center, which will handle the R&D and marketing of products of the tech giant's Esports unit, reported Jiemian News.
The Economist Intelligence Unit (EIU)'s study showed the slow vaccination for the COVID-19 will cost the global economy EUR2 trillion (USD2.3 trillion) in reduced output, among which new and developing economies with slower vaccination pace predicted to take the heaviest blow, reported Agence France-Presse. The study further illustrated that countries which fail to reach a 60% vaccination rate by mid-2022 are assumed to suffer an economic loss of EUR2 trillion between 2022-25.
After meeting, the Bank of Korea (BOK) announced to hike the benchmark interest rate by 25 bps from a record low of 0.5% to 0.75%, making South Korea the first major Asian economy to raise rates since the Covid outbreak. The move was in line with market consensus.
HUTCHMED (00013.HK) -1.450 (-2.439%) Short selling $1.49M; Ratio 12.981% announced that it initiated a Phase Ib/II study of fruquintinib in combination with BeiGene’s tislelizumab in patients with advanced triple negative breast cancer (TNBC) or advanced endometrial cancer (EC) in the U.S. The first patient was dosed on August 24, 2021.
CHINA GAS HOLD (00384.HK) announced it repurchased 11.0368 million shares in the name of the Company on the market between 29 June and 25 August 2021; and repurchased 12.7848 million shares in the name of the trust between 30 June and 23 August 2021. A total of 23.8216 million shares had been repurchased, involving $566 million.
Wall Street business leaders and Chinese officials plan to hold a virtual China-US financial roundtable meeting in autumn, Reuters citing insiders. The previous meeting was convened in October 2020.
The Hong Kong government announced that, so far, about 7.227 million doses of vaccines have been administered under the COVID-19 Vaccination Programme, with the number of persons receiving first vaccine dose reaching 4.008 million and that for the second dose amounting to 3.219 million. The government's expert consultant Yuen Kwok-yung expressed that, due to the outbreak of the Delta variant, the efficacy of both BioNTech and Sinovac vaccines were somewhat reduced. Yuen added that, according to the latest calculation, the inoculation rates of the two vaccines have to reach at least 97.4% and 142.9% respectively to be able to form an immunity barrier.
CHINA POWER (02380.HK) announced to have formed a strategic alliance with GAC Motor with the aim of developing green energy and low-carbon operations. Through the partnership, both parties will collaborate on exploring the battery replacement technology for EVs.
STANCHART (02888.HK) announced that it had repurchased 1.2718 million shares in the London market yesterday (25th), at a weighted average price of GBX457.3184 per share, involving GBP5.816 million.
CHINA RES LAND (01109.HK) announced interim result ended June 2021. The revenue rose 63.8% year on year to RMB73.742 billion. The net profit amounted to RMB13.125 billion, up 15.4%. EPS was RMB1.84. An interim dividend of RMB17.3 fen was declared against a dividend of RMB15 fen in the corresponding period of the previous year.
CATL (300750.SZ) revealed its half-year report. For the first half of 2021, the net profit attributable to shareholders of the listing company reached RMB4.484 billion, up 131.45% yearly. Basic EPS equaled RMB1.9416.
Jinan BYD Semiconductor Company was founded on 24 August, with the legal representative being Chen Gang and registered capital of RMB4.9 billion, as revealed by tianyancha.com. BYD Semiconductor holds 77.75% equity in Jinan BYD Semiconductor.