Important Announcement for Hong Kong Stocks.

1) Company News

$CRRC (01766.HK)$Several contracts were signed in June and July with a total amount of about 45.99 billion yuan, accounting for 19.6% of the company's revenue under China GAAP in 2023. Product revenue of 4.01/12.88/0.06 billion yuan respectively for 100-300-billion-yuan products.

$BIOCYTOGEN-B (02315.HK)$IDEAYA has entered into a selection and authorization agreement for B7H3/PTK7 topology isomerase inhibitor double-specificity ADC projects that have similar pioneering potential.

Under the terms of the agreement, BeiGene will receive an upfront payment. If IDEAYA exercises the option, BeiGene will have the right to receive the option exercise fee, development and regulatory milestone payments, commercial milestone payments, and a net sales value percentage in the single digit. The potential total transaction amount is up to 406.5 million US dollars, including 100 million US dollars in clinical development and regulatory milestone payments.

Performance express

$NEW ORIENTAL-S (09901.HK)$The performance for the fourth quarter and full year of 2024 ended on May 31, 2024 was released.

Net revenue for the 2024 fiscal year was $4.314 billion, a year-on-year increase of 43.9%; operating profit was $350 million, a year-on-year increase of 84.4%; net income was $310 million, a year-on-year increase of 74.6%. Of these, net revenue for the fourth quarter was $1.137 billion, a year-on-year increase of 32.1%; net income was $26.972 million, a year-on-year decrease of 6.9%.

New Oriental expects a total net revenue of between $1.255 billion and $1.284 billion in the first quarter of fiscal year 2025, a year-on-year increase of between 31% and 34%.

As of May 31, 2024, the total number of schools and learning centers increased by 114 from the previous period, or 277 from the same period last year.

$XINYI SOLAR (00968.HK)$Revenue for the first half of the year was HKD 12.687 billion, up 4.5% year-on-year; net profit was HKD 1.962 billion, up 41%. Mainly due to the increased sales of solar glass.

$XINYI GLASS (00868.HK)$Revenue for the first half of the year was HKD 11.807 billion, down 6.4% year-on-year; net profit was HKD 2.73 billion, up 27.1% year-on-year. The decrease in revenue was mainly due to exchange rate fluctuations and a decrease in the average selling price of float glass products.

$XINYI ENERGY (03868.HK)$Revenue for the first half of the year was HKD 1.218 billion, down 5.4% year-on-year; net profit was HKD 0.395 billion, down 30.4% year-on-year. This was mainly due to the limitation of grid access causing power restriction losses and a decrease in power generation revenue.

$DPC DASH (01405.HK)$It is expected that the total revenue for the first half of the year will be no less than RMB 2 billion, a year-on-year increase of no less than 45.0%.

$HUTCHMED (00013.HK)$The total revenue for the first half of the year was approximately USD 306 million, a year-on-year decrease of 42.64%; net profit was USD 25.801 million, a year-on-year decrease of 84.69%.

$YTO INTL EXP (06123.HK)$Announcement of profit warning, expected net loss of about HKD 38 million to HKD 47 million in the middle term, turning from profit to loss year-on-year.

$GOODBABY INTL (01086.HK)$Financing and repurchasing dynamics. Spending HKD 105 million to repurchase 1.996 million shares at a repurchase price of HKD 52.3-53.25.

iDreamSky's first-half total revenue was approximately $0.306 billion, a year-on-year decrease of 42.64%; net profit was $25.801 million, a year-on-year decrease of 84.69%.

$AIA (01299.HK)$Goodbaby Intl (01086.HK) expects net profit to be approximately HKD 0.16 billion to HKD 0.2 billion in the first half of the year, compared to HKD 29.9 million in the same period last year, mainly due to the improvement in gross profit margin.

$IDREAMSKY (01119.HK)$Net proceeds from the offering of 0.11985 billion shares, approximately HKD 0.254 billion, will be used for R&D of key products and overseas issuance, as well as for general corporate purposes.

$EMPEROR INT'L (00163.HK)$Proposed to issue 1.839 billion shares on a "2 for 1" basis, with net proceeds of approximately HKD 0.4555 billion.

Focus on hotspots:

1. Powell signals rate cut in September, and three major indexes rise together, with Nasdaq up more than 2.5%.

The Federal Reserve left interest rates unchanged in July as expected by the market. At a news conference after the rate decision, Fed Chairman Powell suggested that if inflation continues to trend lower, the Fed is prepared to cut rates in September. Overnight, the US stock market rose sharply, with all three major indexes rising, and the S&P 500 index rising more than 1.5%, while the Nasdaq rose more than 2.5%, both posting their best single-day performance since February.

2. China Index Academy: the sales revenue of the Top 100 real estate developers in the first seven months of this year was CNY 2390.94 billion, a year-on-year decrease of 40.1%.

According to statistics from China Index Academy, the total sales revenue of the Top 100 real estate developers from January to July 2024 was CNY 2390.94 billion, a year-on-year decrease of 40.1%, narrowing by 1.5 percentage points from last month. In the single month of July, sales revenue of the Top 100 real estate developers decreased by 19.4% year-on-year and 35.2% month-on-month.

3. Hong Kong's GDP in the second quarter of 2024 is estimated to be up 3.3% year-on-year.

According to preliminary estimates, Hong Kong's GDP in the second quarter of this year rose 3.3% year-on-year compared to the same period last year, while the growth rate in the first quarter was 2.8%. The Hong Kong SAR government said that the economy continued to grow moderately in the second quarter with the continued support of external demand for goods. However, the growth rate of service exports slowed down due to changes in consumption patterns of tourists and residents and the high exchange rate of the Hong Kong dollar, and private consumption expenditure turned slightly negative.

4. Alibaba will launch an AI conversational procurement engine.

On July 31, Alibaba's International Digital Commerce Group announced that it will launch an AI conversational procurement engine, which is expected to debut in September this year.

According to the announcement, the engine is designed for B2B e-commerce business, aiming to change the global procurement process for small and medium-sized enterprises to make it more intuitive and efficient. This new service will integrate all e-commerce platforms, focus on understanding natural language and translating it into professional procurement requests, and can also predict procurement needs and provide suggestions.

At the close of the night session of July 27th,

As of August 1st,$HSI Futures Current Contract (HSIcurrent.HK)$The HSCEI closed at 17377 points, up 28 points or 0.161%, and the high level was up 32 points.

Hang Seng Index Bull & Bear Certificates

As of August 1st, the latest bull-bear street ratio of the Hang Seng Index was 56:44.

Data in the bull-bear certificate street distribution chart of the Hang Seng Index showed that the heavy bear certificate was in the range of 17400-17499, with the latest number of bear certificates in this range being 1021, an increase of 184 from the previous trading day. The most new certificates were added in the range of 17700-17799, with the latest number of bear certificates in this range being 743, an increase of 287 from the previous trading day. The heavy bull certificate street was in the range of 16700-16799, with the latest number of bull certificates in this range being 1282, 104 less than the previous trading day. The most new certificates were added in the range of 16900-16999, with the latest number of bull certificates in this range being 938, an increase of 422 from the previous trading day.

Editor/Somer