I. Market News 1. Hong Kong Census and Statistics Department: The provisional number of Hong Kong's population at mid-year was 7.5318 million people. According to data released by the Hong Kong Census and Statistics Department, the provisional number of Hong Kong's population at mid-year in 2024 was 7.5318 million people, up 0.1% from the end of 2023, but down 0.1% from mid-2023. Between mid-2023 and mid-2024, there was a natural decrease of 18,100 people (i.e., more deaths than births), with 34,400 births and 52,400 deaths. During the same period, there were 13,800 net inbound Hong Kong residents (i.e., more people moving in than out), including 44,000 one-way permit holders and 30,200 other Hong Kong residents who moved out. Among the total population in mid-2024, 7.2874 million were permanent residents and 0.2444 million were non-permanent residents. The revised population figure at the end of 2023 was 7.5279 million, with 7.2464 million permanent residents and 0.2815 million non-permanent residents. The population growth rate from the end of 2022 to the end of 2023 was also revised to +0.7%. 2. Hong Kong Tourism Board: The cumulative number of visitors to Hong Kong in the first seven months was about 25 million, an increase of 52% year-on-year. According to statistics, the preliminary number of visitors to Hong Kong in early July was 3.92 million, an increase of about 10% compared to the same period last year, of which about half were overnight visitors. The cumulative number of visitors to Hong Kong from January to July this year was about 25 million, a year-on-year increase of 52%. Among them, 19.3 million were Mainland visitors and 5.8 million were non-Mainland visitors, an increase of 47% and 71% respectively from the previous year. 3. Hong Kong Exchanges and Clearing Limited (00388) hopes to include Real Estate Investment Trust (REITs) in the Shanghai-Hong Kong Stock Connect as soon as possible. Li Wentao, Vice President of the Global Listing Services Department of Hong Kong Exchanges and Clearing, said at the Boao Real Estate Forum that the Group hopes to include REITs in the Shanghai-Hong Kong Stock Connect as soon as possible. He continued that the inclusion of REITs in the Shanghai-Hong Kong Stock Connect is an issue of great concern, and that it is also an announcement made after the China Securities Regulatory Commission (CSRC) repeatedly mentioned in public last year that it was studying the inclusion of REITs in the scope of the Shanghai-Hong Kong Stock Connect. Hong Kong Exchanges and Clearing also hopes that this can be implemented as soon as possible. II. Corporate News 1. Alibaba Group Holding Limited (09988) released its first quarter results for the three months ended June 30, 2024. According to the financial report, the net profit attributable to ordinary shareholders for the period was RMB 24.269 billion ($3.34 billion), a decrease of 29% year-on-year; net profit was RMB 24.022 billion, a decrease of 27% year-on-year; diluted earnings per share was RMB 1.24. The group's revenue for the period was RMB 243.236 billion, a year-on-year increase of 4%. 2. Alibaba Group's Chief Financial Officer, Xu Hong, said at an earnings briefing that most of the group's businesses, except for its core e-commerce business, will achieve profitability within 1-2 years and gradually begin to contribute to scalable profitability. He said that Alibaba is seeking to transfer its primary listing to Hong Kong. The Group will hold a shareholders meeting on August 22 and make proposals at the meeting. If approved, the primary listing in Hong Kong is expected to be completed by the end of August 2024. As for whether to access the Hong Kong-Shanghai Stock Connect afterwards, it will be necessary to fulfill some procedures under the different rules of each exchange before proceeding, and he expects that it will ultimately be achieved. 3. JD.com, Inc. (09618) released its second quarter results for 2024. According to the financial report, the net profit attributable to ordinary shareholders for the second quarter was RMB 12.644 billion ($1.7 billion), a year-on-year increase of 90.9%; basic earnings per share were RMB 4.2 yuan. The total revenue for the second quarter was RMB 291.397 billion, a year-on-year increase of 1.2%. Among them, revenue from products was RMB 233.908 billion, compared to RMB 233.855 billion in the same period last year. Service revenue was RMB 57.489 billion, compared to RMB 54.076 billion in the same period last year, a year-on-year increase of 6.31%. 4. Kingdee International Software Group Company Limited (00268) announced its interim results for the six months ended June 30, 2024. According to the financial report, the loss attributable to owners of the Company for the period was approximately RMB 0.218 billion, a decrease of approximately 23.2% compared to the same period last year. Basic loss per share was approximately RMB 6.12. No interim dividend will be paid. Revenue for the period was RMB 2.87 billion, a year-on-year increase of approximately 11.9%. Among them, revenue from cloud service business increased by 17.2% year-on-year to RMB 2.39 billion, accounting for approximately 83.2% of the Group's revenue. 5. China United Network Communications Limited (00762) announced its interim results. For the period, the net profit attributable to equity holders of the Company was RMB 13.793 billion, up 11.31% year-on-year. Basic earnings per share were RMB 0.45. An interim dividend of RMB 0.2481 per share will be paid, up 22.2% year-on-year. For the period, revenue was RMB 197.341 billion, a year-on-year increase of 2.87%. EBITDA was RMB 55 billion, up 2.7% year-on-year. 6. CK Asset Holdings Limited (01113) announced its interim results for the six months ended June 30, recording a attributable surplus of HKD 8.603 billion for shareholders, down 16.73% year-on-year, with a basic earnings per share of HKD 2.44. An interim dividend of HKD 0.39 per share will be paid. Group revenue for the period was HKD 22.008 billion, down 10.55% year-on-year.

Meilian: In October, a total of 4 projects obtained pre-sale permits.

According to Meilian Property Research Center data, a total of 4 projects obtained pre-sale permits in October, including Shangshuiyunxiang, Huangzhukeng Station South of Hong Kong Island, providing 1,633 units, an increase of about 42 times compared to September.

In addition, among the residential projects that newly applied for pre-sale permits in October, there are 2 private projects providing 1,206 units, a decrease of about 60% compared to September; there is also a subsidized housing project for sale. Overall, the cumulative number of pending pre-sale units in October increased by about 1.5% to 17,915 units, but there was a slight decrease in private residential units, with 14,611 units recorded, a decrease of about 2.8% month-on-month.

Hong Kong property market's "Silver October": Volume increased month-on-month.

According to Securities Times News, from the market feedback after the new policies, the Hong Kong property market also experienced its own "Silver October". Public information shows that according to the data from the Hong Kong Real Estate Research Department, the number of registered second-hand residential properties in October reached 3351, an increase of 29.3% month-on-month, the highest level in nearly 3 months. The growth in registrations was mainly driven by residential properties priced at 5 million Hong Kong dollars or below, with a 32.5% increase to 1938 registrations in this category.

The latest October statistics released by the Hong Kong Land Registry show that a total of 5857 building sale and purchase agreements were submitted to the Land Registry for registration in the month, an increase of 52.4% month-on-month.

Guangzhou becomes the first city to raise the lower limit of mortgage interest rates.

According to Beijing News, a Bank of China employee in the Guangzhou area told reporters that the branch has received a notice stating that the 'new mortgage rate shall not be lower than 3%'. Starting from November 7th, the new mortgage rate in the Guangzhou area will be implemented at 3%. The employee said that yesterday (November 5th), the lowest mortgage rate was 2.9%, customers who registered and provided bank statements today (November 6th) can still enjoy the 2.9% rate, but starting tomorrow (November 7th), it will be 3%.

Industry insiders believe that Guangzhou, as the first city to raise the lower limit of mortgage rates under the current stabilizing trend in the real estate market, has a certain indicative significance.

4. Selection of management institutions for the seven major industrial funds in Shenzhen, with an overall planned size of 21.5 billion yuan.

The Shenzhen Municipal Finance Bureau issued an announcement regarding the selection of fund management institutions for the seven major industrial funds. The overall size of the seven major industrial funds is 21.5 billion yuan, including the Ocean Industry Fund, New Energy Industry Fund, Ultra HD Video Display Industry Fund, Network and Communication & Intelligent Terminal Industry Fund, Low-Altitude Economic Industry Fund, Artificial Intelligence and Embodied Robot Industry Fund, and Aerospace Industry Fund. The deadline for submission is before 18:00 on November 20th.

1. Alibaba: Alibaba Group Holding Limited released its first quarter results for the three months ended June 30, 2024. According to the financial report, the net profit attributable to ordinary shareholders for the period was RMB 24.269 billion ($3.34 billion), a decrease of 29% year-on-year; net profit was RMB 24.022 billion, a decrease of 27% year-on-year; diluted earnings per share was RMB 1.24. The group's revenue for the period was RMB 243.236 billion, a year-on-year increase of 4%. 2. Alibaba: Alibaba Group's Chief Financial Officer, Xu Hong, said at an earnings briefing that most of the group's businesses, except for its core e-commerce business, will achieve profitability within 1-2 years and gradually begin to contribute to scalable profitability. He said that Alibaba is seeking to transfer its primary listing to Hong Kong. The Group will hold a shareholders meeting on August 22 and make proposals at the meeting. If approved, the primary listing in Hong Kong is expected to be completed by the end of August 2024. As for whether to access the Hong Kong-Shanghai Stock Connect afterwards, it will be necessary to fulfill some procedures under the different rules of each exchange before proceeding, and he expects that it will ultimately be achieved. 3. JD.com, Inc.: JD.com, Inc. released its second quarter results for 2024. According to the financial report, the net profit attributable to ordinary shareholders for the second quarter was RMB 12.644 billion ($1.7 billion), a year-on-year increase of 90.9%; basic earnings per share were RMB 4.2 yuan. The total revenue for the second quarter was RMB 291.397 billion, a year-on-year increase of 1.2%. Among them, revenue from products was RMB 233.908 billion, compared to RMB 233.855 billion in the same period last year. Service revenue was RMB 57.489 billion, compared to RMB 54.076 billion in the same period last year, a year-on-year increase of 6.31%.

1. The Hong Kong Stock Exchange (00388) announced that the total market value of the securities market at the end of October 2024 was 35.2 trillion yuan, up 14% from the same period last year at 30.8 trillion yuan. The average daily trading volume in October was 255 billion yuan, up 224% from the same period last year at 78.8 billion yuan. The average daily trading volume for the first ten months was 127.8 billion yuan, up 20% from the same period last year at 106.6 billion yuan.

2. China Overseas Development (00688) announced that in October 2024, the contractual property sales of the China Overseas series companies amounted to approximately RMB 41.589 billion, an annual increase of 66.0%; while the corresponding sales area was approximately 1,452,600 square meters, an annual increase of 34.6%. For the first ten months, the cumulative contractual property sales of the China Overseas series companies amounted to approximately RMB 240.437 billion, with a corresponding cumulative sales area of approximately 9,083,000 square meters, showing a yearly decrease of 9.0% and 20.4% respectively.

3. China Overseas Grand Oceans Group (00081) announced that in October 2024, the Zhonghai Grand Oceans series companies achieved a contractual sales amount of 5.05 billion yuan and a contractual sales area of 0.4309 million square meters, representing year-on-year increases of 57.9% and 58.5% respectively. The company accumulated a contractual sales amount of 31.456 billion yuan and a contractual sales area of 2.7586 million square meters from January to October 2024, marking year-on-year decreases of 16.4% and 12.0% respectively. As of the end of October 2024, the cumulative reserved but not yet signed amount was 0.892 billion yuan, with a reserve area of 0.0717 million square meters.

Jacobson Pharma (02633) announced a profit increase, expecting the Group's profit from continuing operations for the six months ending on September 30, 2024 to increase by over 40% compared to the same period last year. The significant increase in profit from continuing operations is mainly attributed to the robust performance of the non-patented pharmaceutical business in the public and private sectors, as well as revenue contributions from newly authorized products and strong product launches. Increased leverage in production facility operations and cost-saving measures also drove the related growth. Additionally, due to the distribution of JBM Healthcare (02161) shares as a special dividend in kind, the company will no longer consolidate the performance of JBM Healthcare and its subsidiaries in the financial statements. It is expected that the mid-term attributable profit to equity holders will decrease slightly but not more than 9% compared to the same period last year.

FIH (02038) announced that the net profit for the third quarter ending on September 30 this year was 5.432 million yuan (in USD), compared to a loss of 20.365 million yuan in the same period last year. Operating income and other operating income decreased by 5.3% year-on-year to 2.26 billion yuan. For the nine-month period ending on September 30, the loss narrowed to 26.211 million yuan, compared to a loss of 70.2 million yuan in the same period last year. Operating income and other operating income decreased by 20% year-on-year to 4.154 billion yuan. The Group expects a significant improvement in revenue decline and comprehensive net loss for the 2024 fiscal year, mainly due to a reduction of 67 million yuan in operating expenses for the first three quarters compared to the same period last year, improved other income during the period, and an increase in the share of profits from one of its associated companies offsetting other negative factors.

According to the HKEX data, BlackRock reduced its shareholding in Geely Auto (00175) by 9.33 million shares last Friday (1st), at an average price of 14.0917 yuan per share, involving 0.131 billion yuan, with the latest shareholding reduced to 4.99%.

According to the HKEX data, Schroders reduced its H-share shareholding of China Pacific Insurance (02601) by 1.74 million shares on Monday (4th), at an average price of 26.8408 yuan per share, involving 46.703 million yuan, with the latest shareholding reduced to 6.99%.

Autohome (02518) announced that the net income attributable to ordinary shareholders for the third quarter ending on September 30, 2024 amounted to 0.4257 billion RMB, a decrease of 24.52% from the same period in 2023, which was 0.564 billion RMB. The net revenue for the period was 1.7745 billion RMB, compared to 1.906 billion RMB in the same period last year. The board of directors has approved a cash dividend of $1.15 per American depositary share (or $0.2875 per common share) to be distributed.