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HSI -354pts (-1.4%) 25,961 HSCEI -183pts (-1.9%) 9,233 T/O HK$189.63bn (-25.4% DoD)
Expect markets to open lower, big day for earnings. French GDP growth beat but Household consumption missed, More data to follow
Eurozone Core Inflation Rate, Inflation Rate, GDP Growth Rate, Unemployment Rate
Germany GDP Growth Rate
France GDP Growth Rate, Household Consumption, Inflation Rate.
UK No data due
Opened Dow -20pts, S&P -0.4% NDX -0.9% and have dropped now Dow -112pts S&P -0.8% and NDX -1.3%
Concerns on after market reaction to earnings ahead data on Personal Spending & Income, Employment Cost Index, PCE Price Index, Employment Costs (wages and benefits), Core PCE Price Index, Chicago PMI, Michigan Data Final.
CHINA CSI 300 closed -39pts (-0.8%) @ 4,811
CSI 300 opened lower and sold down to 4,760 in the first 40 minutes before bouncing back to the opening level. Then eased into lunch. PM opened lower and dipped for the first 30 mins before picking up back to the lunchtime level and worked slightly better into the close
Sentiment weak as reported covid cases are surging. Also caution ahead of Politburo meeting being chaired by President Xi and the PMI data due out over the weekend. Weakness in Consumer names with Moutai hitting a new low ahead of earnings and Financial names.
Shanghai Composite -14pts (-0.4%) @ 3,397 T/O US$79,277 vs US$76,115 Thursday
Shenzhen Composite -42pts (-0.3%) @ 14,473 T/O US$120,094 vs US$ 110,944 Thursday
ChiNext Composite Index +11pts (+0.3%) @ 3,612
China's National Health Commission reported 64 COVID-19 confirmed cases yesterday (29th) with 21 of them being local infections (18 of them recorded in Jiangsu; 2 in Hunan; 1 in Beijing).
Manufacturing and Non Manufacturing due out on Saturday
HSI Pre market opened @ 26,043 -272pts vs -66pts ADR’s
Inital traded sideways but for the first 30 mins then ticked higher to 26,150 level but then reversed and sold off into lunch. PM has opened lower traded down to 25,637 before rebounding and working better for the rest of the afternoon but resistance approaching 26,000. Most sectors in the red.
Monday sees stamp duty rise and Biden’s executive order come into force barring US investors from certain HK stocks like Telcos, CNOOC, Tracker Fund and others
HONG KONG DATA
HK reported no new local untraceable covid cases and 2 imported case.
The Census and Statistics Department (C&SD) released today (July 30) the advance estimates on Gross Domestic Product (GDP)for the second quarter of 2021. According to the advance estimates,GDP increased by 7.5% (consensus: +7.8%) in real terms in the second quarter of 2021 over a year earlier, compared with the increase of 8% in the first quarter. The growth in GDP in the second quarter of 2021 was mainly attributable to the visible increases in both domestic and external demand.A Government spokesman said that the Hong Kong economy is on the path to recovery alongside the improving global economic conditions and receding local epidemic. According to the advance estimates, real GDP sustained notable year-on-year growth of 7.5% in the second quarter of 2021, having expanded by 8% in the first quarter. For the first half of 2021 as a whole, real GDP grew by 7.8% over a year earlier.On a seasonally adjusted basis, real GDP recorded a modest decline in the second quarter from the preceding quarter, mainly reflecting some slowdown in exports of goods from the exceptionally strong growth in the first quarter.
Short Selling Friday 15.8% vs 17.4% Thursday
Top Shorts Country Garden (2007) 51%, Bud Apac (1876) 49%, Sunny Optical (2382) 38%, Haidilao (6862) 32%, MTRC (66) 32%, Mengniu Dairy (2319) 31%, Wharf REIC (1997) 30%, HKEX (388) 29%, HSBC (5) 28%, Bank of China (3988) 28%, Ping An (2318) 27%, Geely Auto (175) 26%, Ali Health (241) 26%, CK Asset (1113) 26%,.
AFTER MARKET NEWS
CHOW SANG SANG (00116.HK) issued a positive profit alert. The Group is expected to record its profit between HK$518 million and HK$539 million, representing an increase of 145% to 155% as compared to the corresponding period in 2020. The Board considers that the main cause of the increase was the swift recovery of the Group’s jewellery retail business in Mainland China subsequent to the slump caused by the covid-19 pandemic during the first quarter of 2020.
The Hong Kong Monetary Authority announced the results of its survey on residential mortgage loans (RMLs) in negative equity at end-June 2021. The estimated number of RMLs in negative equity decreased to 5 cases at end-June 2021 from 67 cases at end-March 2021. These cases were related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio.
The aggregate value of RMLs in negative equity decreased to HK$21 million at end-June 2021 compared with HK$379 million at end-March 2021.
SHUI ON LAND (00272.HK) issued a positive profit alert, announcing that the company is expected to record a net profit of approximately RMB1 billion for the six months ended 30 June 2021 as compared to the net loss of RMB1.622 billion for the corresponding period in 2020.
The RMB loan balance of Chinese financial institutions reached RMB185.5 trillion at the end of the second quarter, up 12.3% year-on-year, announced by the People's Bank of China (PBoC).
Centa-City Leading Index (CCL) last posted at 188.77, marking a 105-week high, up 1.01% weekly, with the sharpest increment in 13 weeks. Given housing prices approaching the historic high, the wrestle between buyers and sellers will ramp up, forecast the research department of Centaline Property. They believed the price tussle to linger for a while, stating the current CCL is 0.90% away from its own all-time high at 190.48.
China's Ministry of Industry and Information Technology (MIIT) commissioned the Internet Society of China (ISC) to convene a forum on the thorough Data Security Law implementation by key internet companies.
There were nearly 40 attendants from ISC, China Academy of Information and Communications Technology, and twelve enterprises inc BABA-SW (09988.HK) TENCENT (00700.HK), MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), JD-SW (09618.HK) , BIDU-SW (09888.HK) and so on. During the forum, MIIT emphasized the need to beef up big online firms' responsibilities and bolster security risk assessment and export management of pivotal data.
*COMMODITIES STRONG. STEEL MAKERS jumped on news China reportedly released a combined 170,000 metric tons of copper, aluminum and zinc from its reserves to ease prices and said it will make further releases based on supply and demand as well as on prices, MAANSHAN (323.HK +10.2%) ANGANG (47.HK +8.2%) CHALCO (2600 HK +2.4%).
*E-COMMERCE/INTERNET WEAK after yesterday's gains on regulatory uncertainties. It is reported that the Internet Society of China held a seminar with 12 major Internet companies including ALIBABA (9988 HK -4.2%), TENCENT (700 HK -2.6%), MEITUAN (3690 HK-5.9%) and Ant Group to ensure that they abide by the data security law.
*CHINA PROPERTY WEAK on concerns of more tightening after China's Ministry of Housing & Urban-Rural Deelopment urged the cities of Yinchuan, Xuzhou, Jinhua, Quanzhou and Huizhou to stabilize their surging property markets by stronger regulation, saying prices were rising too fast; the People's Daily reported.
CH EVERGRANDE's (3333 HK -9%) unit, Hengda Real Estate Group, has its 20% stake in Langfang Development with a mkt value of about $269m, frozen by a local court. SUNAC (1918 HK -4.3%) CIFI (884 HK -3.3%) SHIMAO (813 HK -4%).
*HK PROPERTY WEAK on increasing supply concerns. The HK Lands Department posted notices of land resumption and creation of easements yesterday, indicated that a total of 106 private lots with an area of about 4.8 hectares will be resumed. The government added that the public housing developments will provide a total of about 12,000 flats upon full completion. It’s not really a big issue because the government is reliant on the main developers
CKA (1113 HK -0.3%) SHKP (16 HK -1.2%) HENDERSON LD (12 HK -1.1%).
HANG LUNG PROP (101 HK +1.7%) reported yesterday an underlying net profit of HK$2.2b, followed by a net profit of HK$2.24b. The company declared an interim dividend of 18 HK cents. They are confident on their mainland investments too.
*AUTOS FIRM as CAAM data shows 2021 1H auto manufacturing industry has a fast growing profit of 287.68bn CNY, +45.2% YoY. GREAT WALL (2333 HK +6.9%) announced that its production base in Jingmen, Hubei Province, officially put into production yesterday. GEELY (175 HK +1.6%) DONGFENG (489 HK +1.1%) BYD (1211 HK +3.5%).
*POWER PROVIDERS FIRM after China plans to roll out a new pricing mechanism which would increase the previous peak hour charge by 20% or more, news said. DATANG (991 HK +2.6%) CR POWER (836 HK +10%) BEIJING JINGNENG (579 HK +3.3%).
Market opened higher and tested towards 7,440 in early trades but then reversed down to the day low of 7,403 after PPI was much weaker than expected and Private Sector Credit higher. It then traded sideways for a while before recovering and trading around flat. But then sold down in the last hour to close at the day low -25pts (-0.3%) @ 7,393. Weakness in CSL, Fortescue Metals, and Afterpay. But NAB strong initially announced a share buyback; but has eased. It follows ANZ. Origin Energy -7.9% after poor earnings; higher costs and lower demand.
PPI Q2 +0.7% QoQ vs +0.4% Q1 (F/cast was +2.1%)
PPI Q2 +2.2% YoY vs +0.2% Q1 (F/cast was +3.5%)
Private Sector Credit Jun +0.9% MoM vs +0.5% May revised (F/cast was +0.2%)
Private Sector Credit Jun +3.1% YoY vs +1.9% May revised (F/cast was +2.1%)
Pre market unemployment was better than expected along with Industrial Production along with Retail sales. Housing Starts and Construction orders due shortly. Record covid cases and the expectation of State of Emergency being extended hurting sentiment. Tokyo reported 3,300 new covid cases; came out in the afternoon.
Nikkei opened lower and trendedlower through the morning to 27,300 before a bounce into lunch. PM open lower and traded sideways but dipped at the end to close -499pts (-1.8%) @ 27,284
Topix similar pattern closed -26pts (-1.4%) @ 1,901
Pre market data was mixed Industrial data +VE but Retail Sales weak. Heat wave continuing putting pressure on power supplies.
Trade data expected on Sunday and PMI data pre market Monday
Kospi opened lower on mixed data and trended lower to 3,210 level and then traded sideways/lower to close currently -40pts (-1.2%) @ 3,202
Kosdaq traded in a similar pattern -13pts (-1.2%) @ 1,031
Taiex opened flat on good local results and outlook. Traded sideways for the first hour but then dipped lower to trade sideways around 17,350 level but sold down into the close -164pts (-0.9%) @17,239 T/O US$19.17bn
CECC reported 25 new covid cases (Incl 4 import)
TSMC to expand production in its plant in China's Nanjing City has been approved by the Investment Commission under Taiwan's Ministry of Economic Affairs.
Northbound RMB 67,651m Sell 32,872m vs 34,779m Buy
Southbound HK$ 21,988m Sell 11,352m vs 10,636m Buy
Northbound RMB 85,725m Sell 42,692m vs 43,033m Buy
Southbound HK$ 21,964m Sell 11,422m vs 10,542m Buy
MEITUAN (03690.HK) Short selling $539.80M; Ratio 5.142% closed at $215, down 5.9%
BABA (09988.HK) Short selling $514.11M; Ratio 10.254% closed at $189, down 4.2%
TENCENT (00700.HK) Short selling $1.07B; Ratio 5.535% closed at $479, down 2.6%
AIA (01299.HK) Short selling $402.91M; Ratio 13.432% closed at $93.1, up 1.1%
PING AN (02318.HK) Short selling $297.62M; Ratio 11.074% closed at $68.15, up 0.9%
HKEX (00388.HK) Short selling $230.37M; Ratio 9.039% closed at $496, down 0.8%
CCB (00939.HK) Short selling $99.28M; Ratio 6.842% closed at $5.42, up 0.2%
HSI & HSCEI Constituents on Move:
EVERGRANDE (03333.HK) Short selling $67.11M; Ratio 12.240% closed at $5.26, down 9.2%
LONGFOR (00960.HK) Short selling $36.39M; Ratio 3.192% closed at $36.25, down 7.5%
KUAISHOU-W (01024.HK) Short selling $175.26M; Ratio 18.842% closed at $110.1, down 7.4%
CHINA RES LAND (01109.HK) Short selling $31.88M; Ratio 3.212% closed at $26, down 6.8%
ALI HEALTH (00241.HK) Short selling $101.04M; Ratio 13.139% closed at $12.08, down 6.2%
CHINA RES BEER (00291.HK) Short selling $46.47M; Ratio 4.240% closed at $58.15, down 5.8%
HAIDILAO (06862.HK) Short selling $88.11M; Ratio 13.518% closed at $29.2, down 5.2%
WUXI BIO (02269.HK) Short selling $236.99M; Ratio 7.028% closed at $118.5, down 4.9%
COUNTRY GARDEN (02007.HK) Short selling $24.16M; Ratio 10.645% closed at $7.6, down 4.6%
CHINA OVERSEAS (00688.HK) Short selling $14.26M; Ratio 2.042% closed at $16.3, down 4.5%
SUNAC (01918.HK) Short selling $64.17M; Ratio 6.604% closed at $20.15, down 4.3%
BIDU-SW (09888.HK) Short selling $46.69M; Ratio 9.158% closed at $158.2, down 4%
SHIMAO GROUP (00813.HK) Short selling $12.01M; Ratio 4.262% closed at $15.32, down 3.8%
WH GROUP (00288.HK) Short selling $48.09M; Ratio 11.280% closed at $6.44, up 3.7%
BYD COMPANY (01211.HK) Short selling $358.19M; Ratio 8.705% closed at $239, up 3.5%
XINYI SOLAR (00968.HK) Short selling $38.64M; Ratio 4.230% closed at $15.6, up 3.3%
CM BANK (03968.HK) Short selling $141.84M; Ratio 11.537% closed at $59.2, down 3.2%
HSMI & HSSI Constituents on Move:
DONGYUE GROUP (00189.HK) Short selling $78.14M; Ratio 4.383% closed at $16.3, up 16.8%, hitting new high
SCHOLAR EDU (01769.HK) Short selling $418.95K; Ratio 0.648% closed at $1.86, down 15.8%
TIANNENG POWER (00819.HK) Short selling $12.01M; Ratio 2.707% closed at $14.88, up 15%
JW THERAP-B (02126.HK) Short selling $2.40M; Ratio 1.814% closed at $20.45, up 14.5%
SH ELECTRIC (02727.HK) Short selling $8.42M; Ratio 6.531% closed at $1.92, up 11.6%
ZAI LAB (09688.HK) Short selling $25.72M; Ratio 25.193% closed at $1,058, down 11.4%
CHINA RES POWER (00836.HK) Short selling $18.46M; Ratio 1.932% closed at $13.38, up 9.7%, hitting new high
PACIFIC BASIN (02343.HK) Short selling $29.12M; Ratio 4.968% closed at $3.46, up 7.1%, hitting new high
GREATWALL MOTOR (02333.HK) Short selling $325.51M; Ratio 15.165% closed at $37.35, up 6.9%, hitting new high
ZTE (00763.HK) Short selling $10.83M; Ratio 2.618% closed at $27.7, up 3.2%, hitting new high
MARKET HOURS NEWS.
To bolster its anti-plague, economic and social achievements, China fixed the 2021 national general public budget expenditure at more than RMB25 trillion and set the budget deficit ratio at around 3.2%, said Minister of Finance Liu Kun.
Funds focusing on Chinese stocks have recorded net inflows of USD3.6 billion for the week ended Wednesday (28th), of which USD300 million went into the Chinese tech stock funds, illustrating that investors, especially institutions, have been amassing Chinese stocks amidst the recent slump, according a study by the fund research firm EPFR Global.
Suning.com (002024.SZ) responded to the rumored merger between Suning.com's Ling Shou Yun and Tmall that the rumor is untrue.
The Government announced that it intends to allow CLP HLDS (00002.HK) to install four submarine cables within an area of approximately 7,318 square metres of foreshore and seabed from Cheung Sha on Lantau Island to an artificial island near Shek Kwu Chau. The extent of the area affected is described in a notice gazetted today (July 30).
The Hong Kong Monetary Authority (HKMA) announced today (July 30) the conversion of the existing temporary USD liquidity facility to a standing arrangement. HKMA added that as a standing arrangement, the key operational parameters of the USD liquidity facility will remain unchanged. A total of USD10 billion is available to banks under the facility in the form of repurchase transactions for a term of seven days through competitive tenders held by the HKMA every week.
BABA-SW (09988.HK)'s Taobao announced during the Taobao Maker Festival that the e-commerce ecology has generated more than 100 types of new occupations. The festival which lasted for 9 days closed on 25 July in Shanghai. At the moment, the number of Taobao merchants targeting the niche markets reached over 200,000, reflecting that the younger generation with burgeoning creativity is developing employment opportunities under the digital ecosystem of Taobao, the company added
The Ng Teng Fong Charitable Foundation under the Sino Group and Chinese Estates Holdings decided to donate another one-bedroom flat of Grand Central as the prize for the second round lucky draw, should there be five million Hong Kong citizens who have taken at least one dose of Covid vaccine on or before 30 September. The size of the flat is approximately 468 square feet with an estimated market value of around $12 million.
China's Ministry of Education issued a notice, specifying the scopes of academic and non-academic subjects in after-school training (AST) for compulsory education. Based on relevant rules in conducting AST, morality and rule of law, Chinese language, history, geography, mathematics, foreign languages (English, Japanese and Russian), physics, chemistry and biology, will be regulated within scope of academic subjects. Meanwhile, AST involving physical education (or sports and health), arts (or music, fine arts), and comprehensive practical activities (including IT education, labor and technology education) will be monitored within scope of non-academic subjects.
CHINA TELECOM (00728.HK)'s A-share IPO has been approved by the China Securities Regulatory Commission (CSRC), and is expected to raise RMB54.4 billion next three years, exceeding the IPO fundraising amount of SMIC (688981.SH) last year at RMB53.2 billion.
CENTRAL HOLDING (01735.HK) announced that Tencent Cloud and the company entered into a digital ecology cooperation agreement in relation to the provision of digital ecology services by Tencent Cloud to Central Holding Group Co. Ltd. The company added that the cooperation aims to build and create the "digital village and health base platform" and the agreement period lasts until June 30, 2024.
Tencent Games under TENCENT (00700.HK) expressed that, based on the knowledge of the "super digital scene", the company will endeavor to foster development among the gaming sector with its partners in the future, focusing on the three major aspects - technological innovations, talent cultivation and self-discipline, said Michelle Liu, vice president of tech giant's gaming arm. Liu added Tencent Games will continue to explore the cross-sector applications of games, attempting to combine games with education and medial sectors, etc., so as to realize an even greater application value of games.
Hong Kong government is leaning towards choosing China and Macau as the first two places to initiate travel resumption with, as the COVID-19 pandemic situation in the two places are relatively under control, said Edward Yau, Secretary for Commerce and Economic Development. Yau added that the government will continue to discuss the matter of restarting the travel bubble program with Singapore, with no change to the reboot requirement at the moment.
EVERGRANDE (03333.HK) announced that with regard to the civil claim filed by Huaibei Mining Holdings Co., Ltd (600985.SH) against a subsidiary of the company, Lu’an Hengda for project fees and penalty of RMB401 million, the company would like to clarify that the lawsuit involves a construction contract dispute where the parties are disputing over whether payment under the contract is due and have resolved to settle the dispute through litigation. Evergrande Real Estate Group Co., Ltd. is not a party to the contract, the litigation against it has no legal and contractual basis. Evergrande Real Estate Group Co., Ltd. has filed an objection to the court in accordance with the law.
BioMap has recently completed the Series A funding round worth hundred millions of US dollars, led by GGV Capital and followed by BIDU-SW (09888.HK), Legend Capital, BlueRun Ventures, Verity Ventures, Xiang He Capital, etc. BioMap co-founder and Baidu Chairman Robin Li will continue to ramp up investment, expecting to use the funds mainly in technological R&D and talent recruitment.
To lower merchant's operating cost further, BABA-SW (09988.HK)'s 1688 wholesale platform announced to shrink the credit card processing fees to 0.6% per transaction for all merchants on the platform starting 1 August.
Tencent Music Entertainment Group (TME.US) will launch the NFT encrypted art platform service "TME digital collection" in August with QQ Music already running internal tests at the moment, reported Chinese media, citing people familiar with the matter. The platform will release virtual digital collections to users using blockchain technology, which might be incorporated in digital albums and limited peripheral products in the future, the report added.
SH ELECTRIC (02727.HK) announced that ZHENG Jianhua, the chairman of Board and the chief executive officer of the Company, is suspected of serious violation of the law and disciplines and is currently under disciplinary examination and supervision investigation by the Shanghai Municipal Commission for Discipline Inspection of the Communist Party of China and the Shanghai Municipal Supervision Commission, hence he will not be able to perform the duties as a director. In order to safeguard the operation of the Board, the Company would remove ZHENG Jianhua's duties.
TRIP.COM-S (09961.HK) announced the cross-border e-commerce partnership with Funai Soken Holdings Incorporated, under which both sides will establish a long-term tie-up to provide Chinese consumers with cross-border channels to select and purchase Japanese goods.
The Transport and Housing Bureau (THB) announced latest statistics on private housing supply in primary market as of 30 June 2021, expecting 96,000 units to be offered in the coming three to four years, up 4,000 units from the end-2020 figures of 92,000. This will include 12,000 unsold units in completed projects, 57,000 units under construction less not yet sold by presale, and 27,000 units from disposed sites where construction may start anytime.
China Foreign Exchange Trade System announced on Friday (30 July) that the central parity of USD/ RMB rose 340 bps from the last trading day to 6.4602.
PRE MARKET NEWS
BABA-SW (09988.HK)'s big data sales platform Alimama renewed the strategic partnership with Douyin for a term of one year, reported Chinese media. Accordingly, qualified Douyin merchants can display Taobao item links in their videos, allowing viewers to make purchases directly by jumping to the Taobao app.
Fitch Ratings said China's passenger vehicle market had been undermined by the aggravating semiconductor shortage in 2Q21, as global carmakers were prioritizing chip supplies to elsewhere and sharply axing their Chinese JV brands' production.
Fitch projected chip supplies to ramp up each quarter starting 3Q21 to help revive production.
Sinovac Biotech expressed that the company has obtained samples of the Delta, Beta and Gamma virus strains of COVID-19 and that the company's vaccine has shown outstanding results in the neutralization tests against different mutant variants.
Lo Iek Long, Macau's Secretary for Health, expressed that in light of the COVID-19 outbreak in China, Macau's government has decided to require inbound visitors travelling by direct flights from China to provide a negative nucleic acid test proof that is valid for 48 hours prior to boarding, effective from midnight of the coming Saturday (31st).
The global smartphone shipment sustained its last year's robust growing trend over 2Q21, up 13.2% YoY to 313 million units, surpassing the estimate of 12.5% hike, according a report from IDC. Samsung topped the chart as its shipment surged 9.3% to 59 million units. XIAOMI-W (01810.HK) took the second place with an 86.6% surge in its smartphone shipment, totaling 53.1 million units; Apple (AAPL.US) , trailing behind at third place, recorded shipment of 44.2 million units, up 17.8%.
Citigroup announced the survey findings regarding citizens' intention to buy homes in the second quarter, revealing significantly recovering confidence among respondents in the property market. More than half of them envisioned home price rally in the year ahead. Roughly 10% of respondents were bearish on the home market, with the size shrinking from the previous quarter.
The Hong Kong Monetary Authority (HKMA) published the results of Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for the second quarter of 2021. Regarding SMEs’ perception of banks’ credit approval stance relative to 6 months ago, excluding respondents who answered “no idea / don’t know”, 72% perceived similar or easier credit approval stance in the second quarter, up from 70% in the previous quarter. 28% perceived more difficult credit approval stance, down from 30% in the previous quarter.
SHENGYE CAPITAL (06069.HK) announced that a subsidiary of the Company and Tencent Cloud has recently signed a memorandum of understanding (MoU) for collaboration in the area of smart construction. The Collaboration will combine the Group’s smart supply chain management and digital financial technology capabilities, and Tencent Cloud’s expertise in the areas of cloud computing, big data, blockchain, artificial intelligence, and Internet of Things (IoT), to build a “smart construction + digital supply chain platform”. The Collaboration is also in line with the Chinese government’s “Internet Plus+” strategy to boost digitalization through the integration of Internet, IoT and various technologies within the industrial economy.
Wuhan Center for Disease Control and Prevention issued another emergency reminder, calling the citizens to avoid or postpone overseas and cross-province travels and to arrange the travel schedules reasonably, so as to minimize the risk of getting infected during the trip.
DiDi Global (DIDI.US) , once ballooning 19.6% to peak at US$10.61, rallied 11.2% to close at US$9.86.
Didi Chuxing clarified on Weibo that any rumor about DiDi Global's privatization is untrue, adding the company is in active cooperation with China's regulator in network safety investigation.
Huawei's P50 series smartphones, the first smartphone model equipped with the HarmonyOS, are officially released with the Huawei P50 model's prices starting from RMB4,488 and that of P50 Pro model starting from RMB5,988, reported Chinese media.
Suning.com (002024.SZ) announced that the company will terminate the proposed share-repurchase on this occasion so as to concentrate its capital resources on the daily operation of the company and to overcome the existing difficulties and challenges.
In addition, during the 17th board meeting held yesterday (29th), Huang Ming-Tuan has been named as the seventh chairman of the company.
JAC (600418.SH) clarified recent media reports that XIAOMI-W (01810.HK)'s Xiaomi Auto would hopefully settle in Hefei, having tapped JAC as its OEM. After verification, JAC said the reports on the company's OEM'ing for Xiaomi were inaccurate.
Langfang Development (600149.SH) announced that the company's shares as held by Evergrande Real Estate Group was frozen by China's justice department, involving 76.032 million shares, representing 100% of the shares held by Evergrande Real Estate and 20% of Langfang Development's total share capital. The freezing period is from July 29, 2021 to July 28, 2024.
CHINA TELECOM (00728.HK) announced that the China Securities Regulatory Commission (CSRC) has officially approved the A Share Offering of the Company in a written notice. The validity period is within 12 months from the approved issuance date.
XIABUXIABU (00520.HK) issued a profit warning. The Group is expected to record an increase in revenue of approximately 59% for the six months ended 30 June 2021 as compared to the six months ended 30 June 2020. The Group is also expected to record a net loss of approximately RMB40 million to RMB60 million for the six months ended 30 June 2021 as compared to a net loss of RMB255 million for the six months ended 30 June 2020.
SJM HOLDINGS (00880.HK) announced that the Company plans to open its new integrated resort on Cotai Macau, the Grand Lisboa Palace, on 30 July. The Grand Lisboa Palace will, when fully open, feature a total of 1,892 rooms and suites. The first phase will include the flagship Grand Lisboa Palace Macau, the largest of its three hotel towers, as well as a variety of dining options, spa and wellness facilities, and event spaces.
PRADA (01913.HK) announced the interim results for the six months ended June 30, 2021, with its net sales surging 60% YoY to EUR1.501 billion. The net income of the group amounted to EUR97.24 million, compared to the net loss of EUR180 million recorded in the corresponding period of last year.
GCL-POLY ENERGY (03800.HK) announced that the company received a letter from the Stock Exchange on 27 July 2021, pursuant to which the Stock Exchange sets out the following additional resumption guidance for the company: to demonstrate that the company has in place adequate internal controls and procedures to comply with the listing rules. Trading in shares in the company has been suspended from 9:00 a.m. on 1 April 2021 and will remain suspended until further notice.