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HSI -1,106pts (-4.2%) 25,086 HSCEI -476pts (-5.1%) 8,880 T/O HK$360.67bn (+34.5% DoD)
Markets dipped on the open but working better now. UK may look at easing travel restrictions with EU and US.
Eurozone Loans to Households, Loans to Companies, M3 Money Supply.
France Unemployment Benefit Claims, Jobseekers Total
UK CBI Distributive Trades
Opened Dow +7pts S&P and NDX flat but sold down as Asia HK/China sold down. Earnings in focus; Tesla was +VE after earnings. Ahead we get earnings from JetBlue, UPS, General Electric and Starbucks with Google-parent Alphabet, Microsoft and Apple set to report after the bell Tuesday.
Data due Durable Goods Orders, Redbook, Case Shiller Home Prices, House Price Index, Consumer Confidence, Richmond Fed Index. After Market API Crude Oil Stock Change. FOMC two day meeting starts.
CHINA CSI 300 closed -174pts (-3.5%) @ 4,751
CSI 300 opened flat and ticked higher in early trades before selling down to 4,863 at 10:30am . It then rallied back to 4,920 by 11am but then ticked lower into lunch @ 4,907. PM saw the selling accelerate, some support at 4,863 the morning support level. Bounced only to drop through that level to 4,750 level.
Fears of Beijing's regulatory crackdown triggered some panic-selling and a large number of margin calls. The key concern now is whether regulators will expand the crackdown to other sectors. Leaders semiconductor, photoresist, and CRO concept sectors ranked among the top gainers
Laggards were BIPV concept and salt lake lithium extraction sectors
Shanghai Composite -86pts (-2.5%) @ 3,381 T/O US$702.7b
Shenzhen Composite -537pts (-3.7%) @ 14,093 T/O US$831.4b
ChiNext Composite Index -138pts (-4.1%) @ 3,233
Industrial Profits (YTD) Jun 66.9% vs 83.4% May (F/cast was +65%)
31 Chinese provinces and the Xinjiang Production and Construction Corps confirmed 71 COVID-19 cases from 0:00 to 24:00 yesterday (26 July), including 31 local cases in Jiangsu, announced China's National Health Commission.
HSI Pre market opened @ 26,011; 181pts vs -229pts ADR’s
Market initial rallied back to flat and traded around there until just after 10am. Then sold down to 25,737 level over the next 30 mins which looked like margin call selling. Stock then bounced back to 26,100 level before easing lower into lunch. PM the selling continued, brief support at 25,500 bounced 275pts but short lived and selling resumed down to 24,750 before a bounce into the close. Additional margin calls during the day and huge volume in the Ecommerce/Internet names.
Beijing’s crackdown has left investors wondering which sectors might be targeted next and whether the sell-off in Chinese equities increases the odds of wider risk aversion. After the meeting between China and the U.S. in Tianjin, both sides left open the possibility of a summit in October between their presidents despite a contentious day of talks.
HONG KONG DATA
HK reported no new local untraceable covid cases and 1 imported case
Short Selling Tuesday 12.4% vs 12.7% Monday
Top Shorts Hengan (1044) 44%, Country Garden (2007) 42%, Ping An (2318) 39% , Mengniu Dairy (2319) 37%, Bud Apac (1876) 35%, Wharf REIC (1997) 30%, Henderson Land (12) 30%, Hang Seng Bank (11) 27%, Hang Lung Ppty (101) 25%, CK Asset (1113) 25%
AFTER MARKET NEWS
SIHUAN PHARM (00460.HK) issued a positive profit alert, announcing that for the six months ended 30 June 2021, the group is expected to record significant increases of more than 80% in its revenue and more than 300% in its profits, in each case, as compared to that for the corresponding period in 2020.
Spot USD/CNY closed at 6.5040, down 213 bps. As at 4:44 pm, USD/CNY plunged 188 bps in the night session while USD/CNH lost 270 bps and closed at 6.5090.
SHK PPT (00016.HK) may make available the sales brochure and show flats for Wetland Seasons Bay, a residential project at No. 1 Wetland Park Road, as soon as early August, said Sun Hung Kai Real Estate Agency General Manager Allen Woo at a press conference. The group also hoped to unveil the price list at the same time.
BASE METALS dropped following recent outperformance; MAANSHAN (323 HK -3.3%) ANGANG (347 HK -6.2%) CHALCO (2600 HK -7.7%) but JIANXI COPPER (358 HK +2.8%) bucked the trend amid rising copper price.
YZ COAL (1171 HK -3.8%) said 2Q sales volume of saleable coal -33% YoY and production of saleable coal -20% YoY.
*CH BANKS FIRM see as safe haven. China is stepping up restrictions on financing to local government financing vehicles to mitigate risks from hidden debt, the official Securities Times reported yesterday. Several banks and insurers are connecting their systems with a platform of the Ministry of Finance that monitors liability and expenditure of LGFVs, according to news. ICBC (1398 HK +1.1%) CCB (939 HK +1.7%) BOC (3988 HK +0.75).
*EDUCATION PROVIDERS WEAK most continue to fall on regulatory risks and following brokers' downgrading the sector. CHINA EDUCATION (839 HK -4.6%) agreed to buy 51% stake in Jincheng College of Sichuan University, a private undergraduate higher education college in Chengdu, it said in an exchange filing late Monday. China Education will pay 1.68b yuan cash and 59m shares at HK$15.688 apiece for the stake. HOPE (1765 HK -6.7%) MAPLELEAF (1317 HK -8.2%) NEW ORIENTAL (9901 HK -8.6%) while SCHOLAR EDU (1769 HK +7.2%)
*E-COMMERCE/INTERNET WEAK amid fears that there would be more tightening; TENCENT's (700 HK -9%) music unit plans to terminate exclusive music copyright licensing arrangements within 30 days from the date of the decision. after it was ordered to give up exclusive music streaming rights and pay half a million yuan in fines. MEITUAN (3690 HK -17%) after falling 14% yesterday, after the government posted notices that online food platforms must respect the rights of delivery staff and ensure that those workers earn at least the local minimum income. JD (9618 HK -9.4%) NETEASE (9999 HK -13%) BILIBILI (9626 HK -12%).
*PHARMA WEAK traders lock in gains from the highly outperforming sector. WUXI BIO (2269 HK -8%) received the License of Manufacturing Permit from German health authorities for its drug product facility (DP7) in Leverkusen, Germany. SICHUAN (460 HK -8.1%) expects 1H net profit to rise more than 300% YoY.
*CHINA PROPERTY WEAK speculation of further loan curbs and regulatory tightening.
SHIMAO (813 HK -3.5%) bought back 1.5m shares for HK$24.5m on Monday as stock -6.4% at the close.
SUNAC (1918 HK- 6.2%) repurchased 1.7m shares for HK$37.2m on Monday with its share price closing down -7.8%.
CH EVERGRANDE's (3333 HK -13% ) credit rating was cut by S&P Global Ratings, the third downgrade by a global ratings company in about a month, lowered the credit rating grade by two notches to B-. PROP MGRS slumped again, A-LIVING (3319 HK -17%) GC SERV (6098 HK -14%).
*GREEN ENERGY FIRM as a safe haven. China's clean power capacity is set to overtake coal for the first time this year, the China Electricity Council said. Capacity from non-fossil fuel sources — which also include hydro, nuclear and biomass — is forecast to reach 1,120 gigawatts, 20 gigawatts more than coal. DATANG RENEW (1798 HK +3.9%) CR PWR (836 HK +1.2%) GOLDWIND (2208 HK +6.2%).
Market opened higher initially to 7,427 and then trended higher and spiked to 7,448 around 1:20pm; pulled back and then saw resistance at 7,440 level and drifted lower to close; +37pts (+0.5%) @ 7,431 Market is still testing new highs. Miners (Rio, BHP, BlueScope Steel and Mineral Resources hitting new highs) and banks leading with telcos. Tech and healthcare the laggards. Covid case number remain high but some social distancing rules to be eased.
Inflation data due tomorrow.
Nikkei opened higher and tested 28,000 in early trades before pulling back to 27,917 after 45 mins then worked higher to 28,036 before pulling back into lunch. PM opened around 27,950 and worked higher but resistance approaching 28,000; sold down to close +137pts (+0.5%) @ 27,970
Topix traded in a similar pattern closed +12pts (+0.6%) @ 1,938
PPI Services Jun +1.4% vs +1.5% May (F/cast was 1.3%)
KDCA announced 1,365 new covid cases (+47 DoD).
Kospi opened higher and traded in a tight range 3,240/250 for most of the day but sold down in the last hour to 3,230 and then traded sideways to close +8pts (+0.2%) @ 3,233
Kosdaq also trading in arange 1,048 - 1,054 and sold down to close -1pt (-0.1%) @ 1047
Pre market Data
GDP Growth Rate adv Q2 +0.7% QoQ vs +1.7% Q1 (F/cast was +0.7%)
GDP Growth Rate adv Q2 +5.9% YoY vs +1.9% Q1 (F/cast was +6.1%)
Earnings in focus: SK Hynix, Samsung SDI, Samsung Biologics, Samsung Card, Shinhan Financial, Jeju Bank, JB Financial, Doosan Fuel Cell, S-Oil, Doosan Infracore, Doosan Bobcat, Hyundai Steel, Samsung SD reporting.
Taiex opened flat; initially ticked higher to 17,450 but then pulled back to 17,350 then traded in that range until around 10:45am when it sold down to 17,275 level and traded sideways again although it closed at the day low -134pts (-0.8%) @ 17,270.
T/O was US$18.03b vs US$16.27b Much less than seen at the end of last week .
Northbound RMB 80,247m Sell 41,856m vs 38,391m Buy
Southbound HK$ 54,809m Sell 26,114m vs 28,694m Buy
Northbound RMB 94,295m Sell 47,501m vs 46,794m Buy
Southbound HK$ 47,349m Sell 25,602m vs 21,747m Buy
MEITUAN (03690.HK) Short selling $2.19B; Ratio 6.330% closed at $194, down 17.7%
TENCENT (00700.HK) Short selling $3.41B; Ratio 6.849% closed at $446, down 9%
HKEX (00388.HK) Short selling $1.58B; Ratio 19.381% closed at $467.2, down 6.6%
BABA (09988.HK) Short selling $2.24B; Ratio 18.453% closed at $179.9, down 6.4%
PING AN (02318.HK) Short selling $1.41B; Ratio 39.313% closed at $64.95, down 4.1%
AIA (01299.HK) Short selling $557.89M; Ratio 14.056% closed at $89.25, down 3.9%
CCB (00939.HK) Short selling $323.25M; Ratio 11.010% closed at $5.52, up 1.7%
HSI & HSCEI Constituents on Move:
JD HEALTH (06618.HK) Short selling $865.14M; Ratio 35.410% closed at $65.25, down 22.1%
ALI HEALTH (00241.HK) Short selling $493.03M; Ratio 22.721% closed at $10.12, down 18.5%
CHINA FEIHE (06186.HK) Short selling $176.02M; Ratio 11.303% closed at $13.22, down 16.2%
CG SERVICES (06098.HK) Short selling $513.91M; Ratio 14.870% closed at $51.3, down 13.9%
EVERGRANDE (03333.HK) Short selling $50.01M; Ratio 7.122% closed at $5.81, down 13.4%
NTES (09999.HK) Short selling $521.90M; Ratio 12.583% closed at $130.4, down 13.1%
EVERG SERVICES (06666.HK) Short selling $21.00M; Ratio 4.507% closed at $5.16, down 10.7%
HAIDILAO (06862.HK) Short selling $250.07M; Ratio 17.493% closed at $31.05, down 10.5%
HANSOH PHARMA (03692.HK) Short selling $58.70M; Ratio 33.912% closed at $24.95, down 9.8%
JD (09618.HK) Short selling $1.14B; Ratio 27.703% closed at $242, down 9.4%
WUXI BIO (02269.HK) Short selling $670.92M; Ratio 13.265% closed at $107.9, down 7.8%
BIDU-SW (09888.HK) Short selling $142.49M; Ratio 16.032% closed at $148.3, down 7.3%
CSPC PHARMA (01093.HK) Short selling $90.23M; Ratio 8.325% closed at $9.68, down 7.1%
BYD COMPANY (01211.HK) Short selling $759.29M; Ratio 20.266% closed at $204, down 6.3%
SUNAC (01918.HK) Short selling $206.77M; Ratio 16.021% closed at $20.45, down 6.2%
XIAOMI (01810.HK) Short selling $1.54B; Ratio 20.145% closed at $24.35, down 5.8%
SMIC (00981.HK) Short selling $378.91M; Ratio 2.912% closed at $25.55, up 5.8%
ANTA SPORTS (02020.HK) Short selling $205.48M; Ratio 7.051% closed at $156.5, down 5.8%
CHINA RES LAND (01109.HK) Short selling $36.31M; Ratio 5.756% closed at $28.8, down 5.4%
CPIC (02601.HK) Short selling $66.35M; Ratio 12.131% closed at $21.35, down 5.3%
SINO BIOPHARM (01177.HK) Short selling $142.69M; Ratio 15.019% closed at $6.33, down 5.1%
XINYI SOLAR (00968.HK) Short selling $263.16M; Ratio 18.146% closed at $14.48, down 5%
BUD APAC (01876.HK) Short selling $116.44M; Ratio 35.097% closed at $22.7, down 4.6%
CONCH CEMENT (00914.HK) Short selling $166.88M; Ratio 36.809% closed at $36.75, down 4.5%
AAC TECH (02018.HK) Short selling $93.57M; Ratio 17.533% closed at $45.2, down 4.5%
KUAISHOU-W (01024.HK) Short selling $493.68M; Ratio 28.868% closed at $108.9, down 4.5%
LONGFOR (00960.HK) Short selling $125.45M; Ratio 21.897% closed at $39.7, down 4.5%
SHIMAO GROUP (00813.HK) Short selling $87.12M; Ratio 30.349% closed at $15.7, down 3.6%
CM BANK (03968.HK) Short selling $451.26M; Ratio 34.121% closed at $58.3, down 3.3%
WH GROUP (00288.HK) Short selling $50.31M; Ratio 14.019% closed at $6.01, down 3.2%
CHINA LIFE (02628.HK) Short selling $254.25M; Ratio 23.944% closed at $12.72, down 3%
CLP HOLDINGS (00002.HK) Short selling $83.56M; Ratio 11.979% closed at $80.9, up 1.4%, hitting new high
HSMI & HSSI Constituents on Move:
HUAZHU-S-NEW (01179.HK) Short selling $8.17M; Ratio 5.726% closed at $25.75, down 27.5%
XD INC (02400.HK) Short selling $241.91M; Ratio 19.180% closed at $41.7, down 22.8%
AK MEDICAL (01789.HK) Short selling $57.93M; Ratio 21.800% closed at $8.53, down 19.5%
XINYI GLASS-1K (00868.HK) Short selling $72.01M; Ratio 5.398% closed at $24.9, down 19.4%
YIDU TECH (02158.HK) closed at $28.9, down 18.4%
CIFI ES SERVICE (01995.HK) Short selling $45.53M; Ratio 10.313% closed at $12.28, down 18.2%
ALPHAMAB (09966.HK) Short selling $25.42M; Ratio 8.051% closed at $19.04, down 17.9%
HUABAO INTL (00336.HK) Short selling $22.94M; Ratio 5.706% closed at $15.36, down 17%
KANGJI MEDICAL (09997.HK) Short selling $17.96M; Ratio 11.708% closed at $9.59, down 16.9%
HENGTEN NET (00136.HK) Short selling $64.50M; Ratio 25.847% closed at $2.81, down 16.9%
A-LIVING (03319.HK) Short selling $212.71M; Ratio 25.368% closed at $27.5, down 16.5%
ZAI LAB (09688.HK) Short selling $22.62M; Ratio 45.677% closed at $980, down 15.7%
JW THERAP-B (02126.HK) Short selling $13.82M; Ratio 8.866% closed at $17.1, down 15.3%
SIMCERE PHARMA (02096.HK) closed at $9, down 13.8%
FRONTAGE (01521.HK) Short selling $3.20M; Ratio 2.109% closed at $5.34, down 13.3%
S-ENJOY SERVICE (01755.HK) Short selling $11.74M; Ratio 8.280% closed at $15.32, down 13.2%
KINGDEE INT'L (00268.HK) Short selling $174.80M; Ratio 13.849% closed at $20.75, down 13%
E-HOUSE ENT (02048.HK) Short selling $787.12K; Ratio 3.147% closed at $3.23, down 12.9%
JHBP-B (06998.HK) Short selling $7.22M; Ratio 15.387% closed at $12.94, down 12.7%
BAOZUN-SW (09991.HK) Short selling $2.60M; Ratio 19.128% closed at $57.65, down 12.6%
YADEA (01585.HK) Short selling $84.53M; Ratio 30.804% closed at $12.3, down 12.5%
NETDRAGON (00777.HK) Short selling $4.28M; Ratio 6.761% closed at $15.94, down 12.4%
HOPSON DEV HOLD (00754.HK) Short selling $33.09M; Ratio 19.274% closed at $26.95, down 12.2%
CMGE (00302.HK) Short selling $3.05M; Ratio 0.909% closed at $3.97, down 12.2%
WEIMOB INC (02013.HK) Short selling $120.46M; Ratio 10.185% closed at $8.5, down 12.1%
YEAHKA (09923.HK) Short selling $8.35M; Ratio 7.685% closed at $32.95, down 11.9%
ZA ONLINE (06060.HK) Short selling $97.01M; Ratio 15.055% closed at $39.5, down 11.6%
ARCHOSAUR GAMES (09990.HK) Short selling $3.12M; Ratio 11.498% closed at $9, down 11.4%
ZHOU HEI YA (01458.HK) Short selling $10.05M; Ratio 4.838% closed at $6.53, down 11.4%
ANTENGENE-B (06996.HK) Short selling $1.49M; Ratio 3.034% closed at $14.12, down 11.3%
SSY GROUP (02005.HK) Short selling $5.57M; Ratio 5.222% closed at $4.51, down 11%
TOPSPORTS (06110.HK) Short selling $11.83M; Ratio 6.101% closed at $9.26, down 11%
INNOVENT BIO (01801.HK) Short selling $122.65M; Ratio 8.365% closed at $67.95, down 10.9%
GREENTOWN CHINA (03900.HK) Short selling $30.82M; Ratio 14.632% closed at $8.76, down 10.8%
ASCENTAGE (06855.HK) Short selling $9.96M; Ratio 6.581% closed at $43.6, down 10.6%
JIUMAOJIU (09922.HK) Short selling $214.26M; Ratio 31.338% closed at $25.45, down 10.4%
KINGSOFT (03888.HK) Short selling $33.14M; Ratio 2.411% closed at $31.1, down 10.4%
OCUMENSION-B (01477.HK) Short selling $8.37M; Ratio 16.992% closed at $19.54, down 10.4%
GENSCRIPT BIO (01548.HK) Short selling $43.14M; Ratio 5.774% closed at $28.95, down 10.2%
GOME RETAIL (00493.HK) Short selling $47.43M; Ratio 20.716% closed at $0.79, down 10.2%
HEC PHARM (01558.HK) Short selling $25.19M; Ratio 35.595% closed at $6, down 10%
MARKET HOURS NEWS.
Financial Secretary Paul Chan expressed that the worst is over for Hong Kong economy. As the pandemic is becoming under control, along with the stimulus measures taken by the government, Hong Kong's GDP growth in this year might be able to exceed the 3.5-5.5% as previously predicted in the Budget. Chan added that in order to sustain the economic growth, the pandemic must be contained to provide driving force for the economic recovery. The Hong Kong government will also endeavor to encourage local spending.
State-owned Assets Supervision and Administration Commission of the State Council (SASAC)'s Anhui branch is in touch with XIAOMI-W (01810.HK), likely allowing Xiaomi Auto to settle in Hefei without specific investment attraction policy yet, Chinese media citing insiders. Xiaomi's public relations unit had no comment on the rumor, according to the report.
Alipay announced details of lowering fees for small and micro businesses, including exempting the handling fees for receiving Alipay payment and withdrawing cash with no single day upper limit for the coming three years (until 30 September 2024), reported Chinese media. All eligible small and micro enterprises and individually-owned businesses could also enjoy a 10% discount when paying service fees online from 1 August.
As numerous netizens purportedly reflected that WeChat has recently cut off the registration function of new personal accounts, TENCENT (00700.HK)'s WeChat Team replied on Weibo that the app is undergoing technical upgrade for network safety pursuant to related laws and regulations in China, during which registration function of WeChat personal and public accounts is halted. The upgrade is expected to be finished in early August, by then registration could be resumed. TENCENT share price cascaded 8.4% to last at $448.8.
Ant Group announced the half-year report of the "Ant 315" project, in hope to propel the practice of consumer rights protection on a long-term basis. "Ant 315" will continue to launch relevant measures to safeguard the rights of the consumers, focusing on aspects such as privacy protection.
KUAISHOU-W (01024.HK) has founded its Esports company on 23 July -- Suzhou Kuaishou Esports Information Technology, an indirectly wholly-owned company of KUAISHOU-W's connected companies, reported Chinese media. The register capital of the newly founded company was reported to be RMB10 million.
JD-SW (09618.HK) has signed a framework agreement on a strategic partnership with Geely Holding Group. Relying on the supply chain capability of JD LOGISTICS (02618.HK), the two parties will collaborate to explore various aspects of smart logistics supply chains, in hope to increase the companies' service quality and operating efficiency.
BABA-SW (09988.HK) has recently applied for the "Xiami Music Entertainment" trademark through Alibaba Singapore Holding Ltd., reported Chinese media, citing data from the Trademark Office of China National Intellectual Property Administration.
The Europe, Middle East, and Africa (EMEA) traditional PC market tracked a second-quarter shipment of 22.2 million units, rising 6.5% YoY according to IDC's report. By brands, the PC shipment of LENOVO GROUP (00992.HK) (including Fujitsu) rose 5.5% YoY to 5.718 million units. The giant topped the market share chart.
KUAISHOU-W (01024.HK) announced that in response to certain Chinese media report that Morgan Stanley axed the company's target price from $300 to $50 while downgrading it from Overweight to Sell, the reported content of the research report has proven to be completely untrue after verifying with Morgan Stanley. KUAISHOU-W expressed that the malicious fabrication of the report is improper behavior attempting to spread false information and disturb the order of the financial market, and will be dealt with accordingly as the company prepares to initiate corresponding legal procedures.
HKEX (00388.HK)’s Head of Innovation and Data Lab Lukas Petrikas expressed that the brand new platform FINI will provide a streamlined and digitalized IPO settlement process in Hong Kong and increase the efficacy of the market by shortening the cycle between IPO pricing and trading. Petrikas added that FINI will fully modernize the Hong Kong IPO procedures, especially the arrangement of the last two weeks prior to listing.
Vice Premier of China Liu He stressed the importance of supporting the development and innovation among small and medium enterprises as the SMEs remain the major factor to ensure sufficient employment. Liu added that the Chinese government will endeavor to safeguard fair competition and the interests of consumers within the capital market, while creating a favorable developing environment for the SMEs.
PRE MARKET HOURS NEWS
Seven Chinese government departments, including State Administration for Market Regulation (SAMR), jointly published the Guiding Opinions on Implementing the Responsibilities of Online Catering Platforms and Effectively Maintaining the Rights and Interests of Food Delivery Staff.
In response, MEITUAN-W (03690.HK) said it will be steadfast in enforcing the guiding opinions of Chinese regulators, and keep nudging ahead with betterment. Meanwhile, it will also protect labor interests in terms of labor security, delivery safety, rider welfare and experience, so as to raise the protection level for workers.
In response, BABA-SW (09988.HK)'s Ele.me vowed to resolutely uphold and earnestly comply with requirements under the opinion by mapping out proposals regarding deliverymen's safety, health, revenue and protection.
S&P Global yesterday downgraded the credit ratings for EVERGRANDE (03333.HK) and its subsidiaries from "B+" to "B-" with a Negative outlook. EVERGRAND deeply regretted such ratings downgrade and found it incomprehensible, replied a spokesperson of the company.
Tencent Music Entertainment Group (TME.US) , in a statement, sincerely accepted the SAMR's administrative penalty notice on TENCENT (00700.HK)'s illegal concentration of business operators concerning the acquisition of China Music Corporation stakes. Accordingly, Tencent Music will strictly comply with regulatory requirements, give up exclusive rights to music labels in 30 days, and complete rectification works as scheduled.
Intel Corp (INTC.US) laid out a roadmap for its new foundry business to launch five sets of chipmaking technologies next four years, aiming to surpass rivals such as Taiwan Semiconductor Manufacturing Company Ltd (TSM.US) and Samsung Electronics by 2025.
EVERGRANDE (03333.HK) announces that, after thorough discussion, and taking into consideration the current market environment, the rights of the shareholders and creditors, and the long-term development of the various businesses under the Group, it was resolved to cancel the special dividend proposal.
CHINA RES MIXC (01209.HK) expected the profit attributable to the owners of the Company for the six months ended 30 June 2021 will show an increase of approximately 130%–140% as compared to the corresponding period in 2020.
WUXI APPTEC (02359.HK) announced that its shareholder Summer Bloom Investments intends to dispose of up to 29.5259 million A shares, representing 1% of the total share capital of the Company, through bidding and block trading from August 17 to November 14.
The reason for the proposed disposal is normal divestment of fund.
CHINA EDU GROUP (00839.HK) announced to acquire 100% shares in Long Link Investment from the independent third party Lyandy Investment at the total consideration of RMB2.446 billion (approx HK$2.935 billion). The Consideration shall be satisfied as to RMB1.676 billion in cash; and as to the issue of 58.9964 million Consideration Shares.
CHINA EDU GROUP (00839.HK) announced that the General Office of the Chinese Communist Party Central Committee and the General Office of the State Council recently issued the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education. The Group is a higher and vocational education company and the Group’s business does not cover compulsory education as referred to in the Policy.