HSI +55pts (+0.2%) 26,660 HSCEI +49pts (+0.5%) 9,548 T/O HK$153.5bn (-4.5% DoD)
Opened slightly hihger as German inflation data in line with forecasts. Initially dipped but trading around flat ahead of US inflation data.
Earnings is focus; due from E.On, Uniper, Deliveroo and Admiral Group.
ABN AMRO strong after swinging back to a second-quarter profit of 393 million euros ($460.32 million), beating analyst expectations. The Dutch bank also announced plans to resume dividend payments.
Thyssenkrupp weak after posting a 266 million euro quarterly profit, but warned that its steel division was lagging.
US Futures Dow +23 points. S&P 500 futures were slightly lower and Nasdaq 100 futures were off by 0.3%.
Ahead MBA Mortgage Applications and 30 yr Mortgage Rate, Core Inflation Rate, Inflation Rate, EIA Oil Report, Monthly Budget Statement
CHINA CSI 300 closed -28pt (-0.6%) @ 5,015
CSI 300 opened lower and traded in a tight range. Initially rebounded to 5,060 in early trades consolidated to flat but sold down around 10:30am to morning low of 5,020 before a bounce into lunch @ 5,037. PM opened lower and sold down to 5,010 bounced but sold off to close -28pts (-0.6%) @ 5,015.
Sentiment weak on covid worries with more cases and questions being raised about the effacey of domestic vaccines. Investors also cautious about sectors that might be out of alinement with government policy; liquor and insurance being highlighted.
Leaders: charging piles, energy storage, UHV, and coal mining.
Laggards medical beauty, vaccines, stock trading software, and medical equip.
Shanghai Composite +3pts (+0.01%) @ 3,533 T/O US$75,523 -3.7% DoD
Shenzhen Composite -36pts (-0.2%) @ 15,021 T/O US$114,789 -2.4% DoD
ChiNext Composite Index +5pts (+0.1%) @ 3,671
China's National Health Commission reported 111 confirmed COVID-19 cases yesterday (10th), with 83 of them being local cases (54 recorded in Jiangsu; 14 in Hubei; and 1 in Beijing).
After Market Loans Data
New Yuan Loans Jul CNY 1080b vs 2120b Jun (F/Cast was 1250b)
Outstanding Loans Growth Jul 12.3% vs 12.3% Jun (F/Cast was 12.2% )
Total Social Financing Jul CNY 1060B vs 3670B Jun (F/Cast was 2000b)
M2 Money Supply Jul 8.3% vs 8.6% Jun (F/Cast was 8.7%)
A further sign of slowing in China; likely to raise hopes of more action from the Govt/PBoC
Pre market opened @ 26,492 -114pts vs -24pts ADR’s
Market then rallied to flat and then to test 26,800 before trending lower into lunch @ 26,661 PM opened flat and traded in a tight range around flat and closed higher thanks to a 50pt uptick in the auction.
EARNINGS due Thursday includes: Swire A&B, Galaxy, MTRC, China Everbright Envir, WH Group, PAX Global, Rusal, Yue Yuen, Value Partners, Prosperity REIT, Convenience Retail, China Mobile, Hua Hong Semi, Ausnutria, Swire Properties, Li Ning, Pou Sheng,
HONG KONG DATA
HK reported no new local untraceable covid cases and 1 imported cases.
SHORT SELLING Wednesday 21% vs 15.7% Tuesday
Top shorts Bud Apac (1876) 56%, Baba (9988) 44%, Bank of China (3988) 42%, Power Assets (6) 41%, Wharf REIC (1997) 40%, Haidilao (6862) 40%, HKEX (388) 38%, Country Garden (2007) 37%, CCB (939) 36%, AIA (1299) 35%, CK Asset (1113) 33%, CLP (2) 32%, Sunny Optical (2382) 31%, HSBC (5) 31%, CSPCPharma (1093) 31%, HK & China Gas (3) 29%, Geely Auto (175) 29%, CKI (1038) 27%, CITIC (267) 27%, Shenzhou (2313) 27%
AFTER MARKET NEWS
XPENG-W (09868.HK) (XPEV.US) announced the addition of eleven experience centers and three service centers nationwide in July. Up to now,
LENOVO GROUP (00992.HK) Short selling $201.39M; Ratio 22.239% expressed that the company is following procedures designated by Chinese regulators in respect of its proposed CDR listing on STAR board and is making promising progress. The company's management also stated that robust corporate PC demand has been observed. In addition to large enterprises, small-and-medium-sized ones also have strong demand, which would serve as an uplifting signal for LENOVO GROUP as the company is in the position of sector leader.
To further boost market entities' autonomous use of external ratings, the People's Bank of China decided to unroll a pilot scheme and scrap the credit rating requirement for the issuance of debt financing instruments by non-financial enterprises, with effect from today.
While CATHAY PAC AIR (00293.HK) Short selling $18.16M; Ratio 29.680% yearns to operate 30% of its pre-pandemic passenger capacity by the fourth quarter of 2021, this would depend on whether travel restrictions and quarantine measures can be relaxed or scrapped, said CEO Augustus Tang at a press conference. Given higher travel demand from students in August, the airline has beefed up its passenger capacity for flights from Mainland to Hong Kong, and from Hong Kong to the UK, the U.S. and Europe, said Chief Operations and Service Delivery Officer Ronald Lam. CEO Augustus Tang expressed that the company currently has no plan to ask its employees to participate in the unpaid leave scheme within this year. Tang added that the company has been endeavoring to reduce expenses in different aspects and is confident that should the transportation capacity be recovered and the travel restrictions lifted or eased, the company will be able to realize a better cash flow.
Volvo, a wing under Zhejiang Geely Holding, the parent of GEELY AUTO (00175.HK) Short selling $790.21M; Ratio 28.826% , said its Swedish plant in Gothenburg will be shut off briefly in wake of shortage of semiconductor chips. Volvo said it will resume production by next week at the latest.
SUNWAH KINGSWAY (00188.HK) announced that between 22 February 2021 and 11 August 2021, the company, through its wholly-owned subsidiary, conducted on the Stock Exchange a series of on-market transactions to further dispose of an aggregate of 66,000 BYD COMPANY (01211.HK) Short selling $354.05M; Ratio 20.260% shares at an average daily price between HK$157 and HK$275 per BYD share for an aggregate consideration of approximately HK$14.383 million. The transaction resulted in a realized gain of approximately HK$1 million.
PRU (02378.HK) announced the half-year results for the six months ended 30 June 2021. The interim loss amounted to USD4.01 billion, compared to the net profit of USD512 million for the corresponding period of the previous year. LPS was US154.2 cents. A first interim dividend of US5.37 cents was declared.
GREATWALL MOTOR (02333.HK) Short selling $121.45M; Ratio 14.653% decided to transfer a portion of its US$1-billion Indian investment to Brazil given stalled government approvals in India, Reuters citing insiders. GREATWALL MOTOR's securities unit responded to Chinese media that the company's acquisition projects in India and Brazil are two separate projects and both are still ongoing at the moment. The unit stated that it has not been notified of any changes to the projects.
LI AUTO-W (02015.HK), to be listed tomorrow, opened at $118 in
gray market, flattish with the listing price, and last stood at $115, down 2.5% against the listing price, on volume of 12,000 shares, PhillipMart data showed.
TENCENT (00700.HK)'s Shenzhen Tencent Industry Startup Investment has been included as a shareholder of Hangzhou Guanghai Technology, with a stake of around 7%, according to Tianyancha App. The data showed that Hangzhou Guanghai Technology is a Chinese education SaaS service provider, offering support in informatization to educational institutions.
*COMMODITIES FIRM. CH OILFIELD (2883 HK +3.1%) PETROCHINA (857 HK +3.4%) after Oil rallied the most in two weeks on bets global demand recovery will remain intact.
BASE METALS Strong ahead of U.S. inflation data; ANGANG (347 HK +4.5%) MAANSHAN (323 HK +5.7%) CHALCO (2600 HK +3.4%).
*TECH & COMPONENTS WEAK Telco Equipment firms weak after CH TELECM capex expenditure missed forecasts to only 27b yuan in 1H vs FY capex plan of 87b yuan. ZTE (763 HK -6.5%) XIAOMI (1810 HK -2.2%) despite recent product launch.
*CHINA PROPERTY STRONG as CH EVERGRANDE (3333 HK +7.8%) is in talks with third-party investors on the sale of assets including its new-energy vehicle and property units. CHINA SUNAC (1918 HK +5.4%) SHIMAO (817 HK +4%) SHIMAO PROP (813 HK +4.1%) CH VANKE (2202 HK +5.35).
*BREWERS/LIQUOR WEAK after Chinese anti-graft regulator said in a commentary that China should reduce business drinking and replace it with correct values. Some “under the table rules” such as forced drinking for business purposes may lead to crimes, the Central Commission for Discipline Inspection says. TSINGTAO (168 HK -1.9%) CR BEER (291 HK -1.5%) BUD APAC (1876 HK -1%).
*PHARMA/BIOTECH WEAK after U.S. peers backed away from trading at recent highs. Concerns that existing vaccines being not as effective on the new Covid variant also hurt sector sentiment. CANSINO (6185 HK -13%) WUXI BIO (2269 HK -3.1%) FOSUN PHAR (2196 HK -8.5%) GENSCRIPT (1548 HK -10%).
SINOPHARM (1099 HK +0.5%) says Covid vaccine booster shot proves safe in trial and well-tolerated by people above the age of three. The booster was found to have triggered a “relatively strong” antibody response after being administered, it says.
*FINANCIALS STRONG HKEX (388 HK +0.4%) reported 1H net income HK$6.61b, +26% y/y.
CH BANKS traded strong across the board ahead of lending data which came out after market. ICBC (1398 HK +2.5%) CCB (939 HK +2.4%) CMB (3968 HK +3%).
*MEDICAL BEAUTY MIXED after the National Medical Product Admin said that some beauty medical procedures should be performed by qualified providers. SISRAM (1696 HK -10%) EC HEATHCARE (+0.4%) PERFECT MEDICAL (1830 HK +2.4%).
Market opened higher slightly stronger than the futures and tested 7,600 (a new high) initially thanks to the good results from CBA +1.5% kicking off the bank’s reporting and announcing a $6bn share buyback. Market then consolidated back slightly before working better to 7,615 but then trended lower to close @ 7,584. Tech also firm and earnings from James Hardie, Challenger, and Megaport supportive too. Mineral Resources see-sawed; the company more than tripled its full-year profit and hiked its dividend but closed flat.
Data out in the morning
Consumer Confidence Change Aug -4.4% vs +1.5% Jul (F/cast was +0.2%)
Consumer Confidence Index Aug 104.1 vs 108.8 Jul (F/cast was 109)
Nikkei opened slightly higher and traded in a range 28,090/ 27,975 to close +182pts (+0.7%) @ 28,071. Another big day for earnings and lots of results from yesterday to digest along with the +VE implications from the US infrastructure plan. Volumes similar to Tuesday. Softbank -1.8% post earnings
Topix trended higher to close +19pts (+1%) @ 1,955
Out in the afternoon
Machine Tool Orders Jul 93.4% vs 96.6% Jun (F/cast was 75%)
Pre market unemployment data better than expected but KDCA announced 2,223 new covid cases a new high.
Kospi opened slightly lower new covid cases hitting a new high and off-sets the fall in unemployment. It spiked to 3,250 briefly before selling back down to 3,227 before working back to 3,240 but trended lower to close -23pts (-0.7%) @ 3,221.
Samsung opened lower on their ‘unpack’ day having been usurped by Xiaomi’s release last night foreigners selling Tech. Vaccine names +VE
Kosdaq opened lower and tested lower to 1,050 then rebounded to 1,056.
Then traded effectively sideways to close flat @ 1,052
Taiex opened slightly lower and tested down 17,170 before rebounding but unable to break above yesterday’s close; which it tested twice before trending lower. Found support at 17,090 around 1pm and then rebounded to close -97pts (-0.6%) @ 17,227 with Tech names and traditionals weak but Financial outperforming along with Petrochems
T/O was USD13.94bn the lightest this week.
CECC reported 16 new covid cases (inc 4 imported cases).
Northbound RMB 57,570m Sell 29,299m vs 28,271m Buy
Southbound HK$ 20,976m Sell 9,547m vs 11,429m Buy
Northbound RMB 67,904m Sell 34,846m vs 33,058m Buy
Southbound HK$ 20,058m Sell 8,154m vs 11,904m Buy
CCB (00939.HK) Short selling $817.94M; Ratio 36.053% closed at $5.62, up 2.4%
BABA (09988.HK) Short selling $1.15B; Ratio 43.582% closed at $191.2, down 0.9%
PING AN (02318.HK) Short selling $419.53M; Ratio 25.685% closed at $69.8, up 0.9%
MEITUAN (03690.HK) Short selling $1.07B; Ratio 18.344% closed at $237.2, down 0.8%
TENCENT (00700.HK) Short selling $666.49M; Ratio 6.822% closed at $484, down 0.5%
HKEX (00388.HK) Short selling $877.36M; Ratio 38.312% closed at $517.5, up 0.4%
HSI & HSCEI Constituents on Move:
EVERG SERVICES (06666.HK) Short selling $38.30M; Ratio 1.805% closed at $7.3, up 9%
CHINA OVERSEAS (00688.HK) Short selling $167.04M; Ratio 12.699% closed at $18.62, up 8.9%
EVERGRANDE (03333.HK) Short selling $52.46M; Ratio 5.255% closed at $6.33, up 7.8%
CHINA RES LAND (01109.HK) Short selling $113.55M; Ratio 9.390% closed at $30.15, up 7.3%
LONGFOR (00960.HK) Short selling $59.50M; Ratio 4.802% closed at $38.85, up 6.9%
PSBC (01658.HK) Short selling $411.71M; Ratio 42.528% closed at $5.75, up 5.9%
SUNAC (01918.HK) Short selling $192.79M; Ratio 14.886% closed at $21.3, up 5.4%
HANSOH PHARMA (03692.HK) Short selling $15.13M; Ratio 24.419% closed at $26.95, down 4.9%
SHIMAO GROUP (00813.HK) Short selling $23.42M; Ratio 3.293% closed at $16.96, up 4.2%
CG SERVICES (06098.HK) Short selling $201.74M; Ratio 14.873% closed at $64.35, up 4.1%
JD HEALTH (06618.HK) Short selling $303.38M; Ratio 33.764% closed at $82.95, up 4.1%
SHENZHOU INTL (02313.HK) Short selling $192.85M; Ratio 26.826% closed at $171.4, down 4%
XINYI SOLAR (00968.HK) Short selling $120.82M; Ratio 14.981% closed at $16.16, down 3.7%
PETROCHINA (00857.HK) Short selling $64.57M; Ratio 15.044% closed at $3.34, up 3.4%
GEELY AUTO (00175.HK) Short selling $790.21M; Ratio 28.826% closed at $28.3, up 3.3%
HAIDILAO (06862.HK) Short selling $302.09M; Ratio 39.657% closed at $32.4, up 3.2%
WUXI BIO (02269.HK) Short selling $302.89M; Ratio 25.738% closed at $123.5, down 3.1%
CM BANK (03968.HK) Short selling $562.09M; Ratio 41.191% closed at $65.4, up 3.1%
HSMI & HSSI Constituents on Move:
PER ENERGY (02798.HK) Short selling $16.40K; Ratio 0.010% closed at $1.97, up 30.5%
CGN NEW ENERGY (01811.HK) Short selling $7.29M; Ratio 3.018% closed at $3.83, up 13.6%, hitting new high
CANSINOBIO (06185.HK) Short selling $364.53M; Ratio 37.581% closed at $328, down 13%
YUEXIUTRANSPORT (01052.HK) Short selling $2.15M; Ratio 4.646% closed at $4.58, up 10.9%
GENSCRIPT BIO (01548.HK) Short selling $107.44M; Ratio 14.670% closed at $35.5, down 10.4%
CHINAHONGQIAO (01378.HK) Short selling $76.59M; Ratio 18.670% closed at $10.92, up 10.2%
CHINA POWER (02380.HK) Short selling $1.80M; Ratio 1.483% closed at $2.09, up 6.1%, hitting new high
CHINASOFT INT'L (00354.HK) Short selling $37.98M; Ratio 7.325% closed at $15.9, up 3.9%, hitting new high
CHINA RES POWER (00836.HK) Short selling $68.75M; Ratio 12.486% closed at $15.74, up 3.4%, hitting new high
CIMC ENRIC (03899.HK) Short selling $10.80M; Ratio 10.514% closed at $8.71, up 3.1%, hitting new high
EARNINGS at lunch
HYSAN DEV (00014.HK) announced the interim results for the six months ended 30 June 2021. The turnover decreased 7.4% YoY to HK$1.834 billion. The profit attributable to the shareholders for the period was HK$517 million, compared to a loss of HK$2.626 billion for the corresponding period of the previous year. EPS was HK50 cents. An interim dividend of HK27 cents per share was declared.
HKEX (00388.HK) Short selling $251.41M; Ratio 31.176% unveiled the interim results ended June 2021. The net profit rose 26.3% yearly to $6.61 billion, hitting a new record for half yearly results. Yet, the figure missed the lower end of the brokers' forecast as compiled by our reporters at $6.832-7.14 billion. The EPS was $5.22. An interim dividend of $4.69 was declared. ADT rose to a record half-yearly high of $188.2 billion, up 60% year-on-year. Of which, ADT of equity products climbed 66% YoY to a record $165.8 billion. ADT of derivative warrants,
Callable Bull/Bear Contracts and warrants hiked 28% YoY to $22.4 billion. CEO Nicolas Aguzin expressed that this has been a record first half for HKEX. Driven by a buoyant IPO market, strong trading volumes and significant momentum in Stock Connect, revenue and profit reached record highs. The macro backdrop will remain challenging in the months ahead, but HKEX remains resolutely focused on continuing to enhance the attractiveness of its markets, responding to the needs of its customers and driving its business forward. HKEX is well-placed for the opportunities and challenges ahead.
CATHAY PAC AIR (00293.HK) Short selling $7.30M; Ratio 48.052% announced the interim results for the period ended 30 June 2021. The revenue for the period slumped 42.7% YoY to HK$15.854 billion. Loss for the period attributable to ordinary shareholders narrowed to HK$7.858 billion, compared to a loss of HK$9.865 billion for the corresponding period of the previous year. LPS was HK122.1 cents. No dividend was declared. It hopes to operate up to 30% of the pre-pandemic passenger capacity by the fourth quarter of 2021, but this is dependent on operational and passenger travel restrictions being lifted, said Chairman Patrick Healy in the report. The carrier expects cargo operations to continue to perform strongly in the second half of the year. It will maintain its focus on prudent cash management, targeting cash burn of less than HK$1 billion per month for the remainder of the year.
LENOVO GROUP (00992.HK) Short selling $64.36M; Ratio 18.222% announced first quarter result ended June 2021. The revenue rose 26.8% year on year to US$16.929 billion. The net profit amounted to US$466 million, up 118.99% yearly. EPS was US4.02 cents.
MARKET HOURS NEWS.
China Banking and Insurance Regulatory Commission (CBIRC) decided to initiate rectification targeting routs in the internet insurance segment, as a Chinese media learnt from the industry participants. The rectification mainly addresses chaos in internet insurance product management, sales management, claims management, information security, and so on. It also thwarts misleading sales, false high charging, illegal operations, user data leakage, and more.
HSBC launched a wealth management solution -- "Wealth Portfolio Plus" to aid Jade clients who hold a professional investor status to achieve their wealth goals by constructing a well-diversified portfolio to respond to market volatility. HSBC's Hong Kong high-net-worth clientele has seen a robust growth compared to the corresponding period of the previous year with the asset scale likewise recording a double-digit growth YoY.
Little Bear Rental, a Chinese office IT equipment renter backed by TENCENT (00700.HK), JD-SW (09618.HK), etc., announced the completion of strategic investment from LENOVO GROUP (00992.HK)'s Lenovo Capital on 11 August. Accordingly, both sides will center on the data as a service (DaaS) business to provide corporate clients with services throughout the office IT equipment lifecycle and help SMEs lower cost and boost efficiency.
BYD COMPANY (01211.HK), in reply to purported supply of "blade battery" by the company to Tesla (TSLA.US) in 2Q22, said it has never told media that it will supply Tesla with "blade battery", or Tesla's Model Y will be geared with the battery, as Chinese media reported.
BYD also expressed that the company will become a component supplier for XIAOMI-W (01810.HK) Short selling $368.38M; Ratio 22.354% 's flagship products including the MIX 4 smartphone and Mi Pad 5 which debuted at the latter's new product launch. BYD ELECTRONIC and XIAOMI-W have collaborated on over 30 products over the course of 2014-20 and have established a joint laboratory.
BYD COMPANY has recently been granted a patent on "method to detect water depth on road, device and vehicle", with the application dated October 2016, Chinese media reported. The patent summary revealed that the radar on vehicles will notify drivers about the water depth on roads ahead, and provide accurate and reliable data for subsequent driving strategy and risk aversion.
Chemical peel treatment ought to be conducted in certified hospitals or clinics by trained professionals, according to an article published by China National Medical Products Administration (NMPA). Chemical peel is a technique intended to remove the outermost layers of the skin. During the treatment, a certain chemical solution will be applied to the skin, which would constitute controllable damage to the skin while prompting the regeneration of a new layer of skin. NMPA's article remarked that chemical peel may trigger negative reactions depending on the type, concentration of the chemical solution.
Tianjin city government has decided to postpone the second round of centralized land supply auction and has imposed certain adjustment on the starting bidding price and bidding rules, reported The Paper. The maximum premium rate for land sales has been lowered to 15% from 50%. Tianjin officials expressed that the bidding for residential plots will be decided in the form of lottery when the upper price limit is reached.
TRAD CHI MED (00570.HK) announced that the Company has been informed by Sinopharm Hongkong that it has decided not to proceed with the Possible Privatisation this time. Accordingly, the offer period in relation to the Possible Privatisation has ended today (11th). Trading in the company's Shares was halted from 9:00 a.m. today, pending the release of this announcement. An application has been made by the Company to the Stock Exchange for the resumption of trading in the Shares with effect from 1:00 p.m. today.
"Father of emerging markets" Mark Mobius mentioned the fund flow from China's market to India, the U.S. and some emerging markets following China's recent regulation tightening. However, he found this temporary and hard to last.
Edward Yau, Secretary for Commerce and Economic Development, said the Government is reviewing border resumption every day and hoping to reboot the border as soon as conditions permit, having balanced out epidemic prevention and economic revival. Equally, the Government is revising custom clearance and anti-epidemic requirements based on the condition of "preventing the importation of cases", he furthered.
SUNEVISION (01686.HK) announced a new strategic collaboration with Tencent Cloud to further expand both parties’ presence and connectivity in Asia. Tencent Cloud is now available on SUNeVision MEGA Campus to address its fast-growing customer demand.
This addition will be Tencent Cloud's third data centre (availability zone) in Hong Kong, as part of Tencent Cloud’s strategic deployment in Asia, expanding presence in Hong Kong, advancing customers’ hybrid cloud strategy, and leveraging the Weixin’s ability to reach and connect with users.
Overnight HIBOR last posted at 0.04098%, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.07107%, marking a 1-month low
EVERGRANDE (03333.HK) confirmed that it is in talks with several independent third party investors on the proposed sales of certain company's assets, including part of the interests in EVERG VEHICLE (00708.HK) and EVERG SERVICES (06666.HK). EVERGRANDE is keen on selling all of the interests in its subsidiary EVERG SERVICES to a consortium led by CHINA VANKE (02202.HK), reported 01ICON.
ARK Innovation's founder Cathie Wood expressed that the valuations of China concept stocks may remain depressed for a certain period of time, despite her open view on the outlook of Chinese stocks. Wood dumped Chinese stocks in the previous month, stating that she believes that the valuations of China concept stocks are unlikely to see a rebound in short-term.
BABA-SW (09988.HK) Short selling $613.21M; Ratio 47.607% 's Ant Group has won the tender bidding for a commercial site next to the current headquarter of the group at the bottom price of RMB1.315 billion yesterday (10th). The site is expected to be established as the common development global headquarter of the company.
The smartphone market in India has seen quickening recovery from the pandemic in 2Q with its shipment hiking 86% YoY to 34 million units, according to a report published by IDC. The Indian smartphone market was further predicted to see a single-digit growth throughout this year. In terms of brands, XIAOMI-W (01810.HK) Short selling $368.38M; Ratio 22.354% 's shipment in the Indian market surged 84% YoY to 9.8 million units, ranked number one with a 29.2% market share. Trailing behind in second, Samsung shipped 5.5 million units of smartphone, up 15.1%. Vivo, realme and OPPO ranked third to fifth respectively in terms of shipment volume
IKEA has fired up the sales process of its first retail and residential project in Changsha, China, launching 500 units in total. The company's collaboration partner Ingka Centers' managing director Cindy Andersen told Reuters that the intake is estimated to be around March 2022.
Despite his upbeat view on China's outlook, SoftBank Founder and CEO Masayoshi Son stayed cautious about investing in China considering tighter regulation and uncertainties. He believed BABA-SW (09988.HK) Short selling $613.21M; Ratio 47.607% 's share price will bounce back, although SoftBank has been depending less on the latter.
PRE MARKET NEWS
Trading in the shares of TRAD CHI MED (00570.HK) has been halted with effect from 9:00 a.m. this morning (11th), pending the issuance of an announcement pursuant to the Code on Takeovers and Mergers which contains inside information of the Company.
MEITUAN-W (03690.HK)'s Meituan Dache app has been removed in some areas in Gaochun district of Nanjing city for failing anti-epidemic requirements stipulated by relevant departments, reported Chinese media. Subsequently, Meituan Dache has suspended the provision of its ride-sharing service.
Apple's next-generation iPhone will have at least three key new camera and video-recording functions, which are expected to be enticements for customers to upgrade from earlier models, reported Bloomberg. The new device will comprise of a video version of the Portrait mode, a higher-quality video format called ProRes, and a new filters-like system for photo editing.
BYD COMPANY (01211.HK) announced that it will deliver 76 pure electric buses to Nobina, the largest public transportation operator in Northern Europe, on 10 August. The fleet covers 4 models of the company's pure electric bus family and will be come to service in Helsinki, Finland this month. Taking into account the 43 buses delivered to Turku last month, BYD’s fleet of electric buses delivered to Nobina hiked to 119.
Coinbase Global, Inc. (COIN.US) 's second-quarter net income burgeoned 49 times to US$1.606 billion. Adjusted EPS hit US$3.45, better than street forecast of US$2.33.
STANCHART (02888.HK) announced that it intends to issue U.S.$1.5 billion Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities on 19 August 2021 at a fixed rate of 4.3% per annum. Also the repurchase of 1.2346 million shares yesterday (10 August) at a weighted average price of GBX461.9242 each, involving GBP5.703 million.
The Macau government is urged to launch its consultation on the reform of gaming law as soon as possible and to clarify relevant information and direction in respect of the policy, according to a report from the Land and Public Grants Follow-up Committee submitted by the Legislative Assembly of Macau, reported Macao Daily. As for the retender of the gaming rights, the committee's report suggested that some believe that the Macau's government need not rush the tender process prior to the expiry of the present licenses. Instead, the government should select an optimal timing to commence the retender, so as to avoid having bids cast with lower qualification.
Macau's Civil Protection Operations Centre announced that, according to the Dispatch of the Chief Executive, in accordance with Civil Protection Legal Regime, the state of immediate prevention as prescribed in Dispatch of the Chief Executive previously is terminated as of 22:00 on 10 August 2021.
China's commercial banks achieved an aggregate net profit of RMB1.1 trillion for the first half of 2021, up 11.1% on a yearly basis, announced by China Banking and Insurance Regulatory Commission (CBIRC).
XIAOMI-W (01810.HK) Short selling $368.38M; Ratio 22.354% 's CEO Lei Jun expressed during the annual speech that the company's next goal is to become the worldwide number one in terms of market shares in the smartphone sector within three years, reported Chinese media. CEO Lei Jun unveiled the Xiaomi MIX4 smartphone at Xiaomi’s autumn 2021 new product launch, with its prices starting from RMB4,999, reported Chinese media. The pre-order for the new smartphone model will be available from tonight and it will be released on all channels on 16 August. Also the brand's new tablet model -- Mi Pad 5 at Xiaomi’s autumn 2021 new product launch with a starting price of RMB1,999. Lei expressed that the Mi Pad 5 marked the company's return to the tablet project after four years, in hope to adapt to at least 2,000 applications by the end of the year. Finally they unveiled the Xiaomi Sound Speaker with a sound level of up to 90 decibels (dB) at the 2021 Annual Speech and the group's Autumn New Product Launch. The new speaker is flanked by dual passive radiators and tuned by Harman, being priced at RMB499. It will also establish a robotics laboratory, having debuted a four-legged robot called CyberDog.
CHINA TELECOM (00728.HK) (601728.SH) announced that there are a total of 5.363444 million A-share subscription numbers, and each successful subscription number entitles the subscriber to subscribe for only 1,000 A-shares of China Telecom. 20 strategic investors including Huawei and BILIBILI-SW (09626.HK) were eventually allocated 518,300 A-shares of China Telecom.
SHENZHENEXPRESS (00548.HK) and SHENZHEN INT'L (00152.HK) jointly announced that Shenzhen Expressway and SIHCL had entered into the Sale and Purchase Agreement in relation to the Acquisition of a 71.83% equity interest in BAY AREA DEV (00737.HK) , involving around 2.213 billion shares, at a total Consideration of no more than HK$10.479 billion.
SMIC (00981.HK) announced that on 4 August, the company's shareholder GIC Private reduced its holdings of 2.8 million domestic shares of the company through a stock exchange. After completion, GIC Private holds a total of 95.0437 million shares of the company, accounting for 4.90% of the total domestic share capital.
EVERGRANDE (03333.HK) noted the recent increases in the price and trading volume of the shares of the Company. The Company informed that it is in discussions with several independent third party investors on the proposed sales of certain of the Company’s assets, including, without limitation, the sale of part of the interests in the listed subsidiaries of the Company, EVERG VEHICLE (00708.HK) and EVERG SERVICES (06666.HK). So far, no concrete plan or formal agreement has been determined or entered into.