GMT EIGHT - OPPORTUNITIES IN CHINA

Could suppressing U.S. bond yields backfire? Citadel warns the U.S. Treasury that "financial repression" could weaken the dollar and fuel inflation.

The U.S. Treasury Department has recently lowered long-term financing costs by expanding the scale of long-term bond repurchases, but this approach is raising warnings from Wall Street institutions about potential side effects.

US Stock Market Move | In the first half of the year, losses surged, and XPeng Group (XPEV.US) fell by nearly 7%.

On Monday, Xiaopeng Motors (XPEV.US) opened with a continuous decline, and as of the time of writing, the drop was about 7%.

US Stock Market Move | The core executives have stepped in to increase their holdings as the decline in Alibaba Group Holding Limited Sponsored ADR (BABA.US) has narrowed to 0.23%.

On Monday, Alibaba (BABA.US) opened lower, with the maximum intraday decline nearly 2%. As of the time of writing, the decline had narrowed to 0.23%.

CNGR Advanced Material (02579) announced its mid-term results, with a profit attributable to the owners of the parent company of approximately 1.3114 billion yuan, an increase of about 78.4% year-on-year.

Zhongwei New Materials (02579) announced its mid-year results for 2026, achieving operating revenue of approximately 33.584 billion yuan, an increase of about 57.5% year-on-year; the profit attributable to the parent companys owners was approximately 1.3114 billion yuan, representing a year-on-year increase of about 78.4%; the basic earnings per share were 1.24 yuan, with a proposed cash dividend of 3.8 yuan (including tax) for every 10 shares.

JIAXIN INTL RES(03858) subsidiary ZV has entered into a construction contract for the Bakuta mining project with CCECC Kazakhstan Branch.

Jiaxin International Resources (03858) announced that on August 24, 2026, its subsidiary ZV (an indirectly non-wholly-owned subsidiary of the company) entered into a mining construction contract with CCECC Kazakhstan Branch through a public tender. The subsidiary ZV will procure the expansion project of Tailings Pond No. 1 for the Bakuta tungsten mining project from CCECC Kazakhstan Branch, with a contract price of RMB 256.9 million (including tax) (subject to adjustment).

CNGR Advanced Material (02579) will distribute a mid-term dividend of 3.8 yuan for every 10 shares on October 30.

Zhongwei New Materials (02579) announced that it will distribute a mid-term dividend of 3.8 yuan for every 10 shares for the six months ending June 30, 2026, on October 30, 2026.

TK GROUP HLDG (02283) will distribute an interim dividend of HKD 0.011 per share on September 28.

Dongjiang Group Holdings (02283) announced that it will distribute an interim dividend of HKD 0.011 per share for the six months ending June 30, 2026, on September 28, 2026.

KINETIC DEV (01277) will distribute the second interim dividend of HKD 0.025 per share on November 13.

Power Development (01277) announced that the company will distribute the second interim dividend of HKD 0.025 per share on November 13, 2026.

SIGENERGY Source (06656) 2026 Mid-Year Report: Revenue Soars Over 260% with Continuously Improving Profitability, Driving a New Engine for Global Energy Transformation with AI.

S (Shanghai) Co., Ltd. officially announced its interim performance for the six months ending June 30, 2026.

JIAXIN INTL RES (03858) will distribute a mid-term dividend of HK$1.87 per share on November 11.

Jiaxin International Resources (03858) announced that it will distribute a mid-term dividend of HKD 1.87 per share for the six months ended June 30, 2026, on November 11, 2026.

KINETIC DEV (01277) announced its interim results, with shareholders' profit attributable amounting to 768 million yuan, a year-on-year increase of 36.82%.

Power Development (01277) announced its mid-term results for 2026, with revenue of approximately 2.521 billion yuan, a year-on-year increase of 0.4%; the company's net profit attributable to shareholders was 768 million yuan, a year-on-year increase of 36.82%; basic earnings per share were 9.11 cents, with an interim dividend of 6.0 Hong Kong cents per share.

KINETIC DEV (01277) will distribute the third interim dividend of HK$0.02 per share on December 11.

Strength Development (01277) announced that the company will distribute the third interim dividend of HK$0.02 per share on December 11, 2026.

JIAXIN INTL RES (03858) announced its interim results, with a profit attributable to shareholders of HKD 1.538 billion, turning from loss to profit year-on-year.

Jiaxin International Resources (03858) announced its interim results for the six months ending June 30, 2026, reporting a revenue of HK$2.703 billion, an increase of 2039.9% year-on-year; a profit attributable to equity holders of the company of HK$1.538 billion, reversing a loss compared to the previous year; earnings per share of HK$3.37; and a proposed interim dividend of HK$1.87 per share.

KINETIC DEV (01277) will distribute a mid-term dividend of HKD 0.015 per share on October 12.

Strength Development (01277) announced that the company will distribute an interim dividend of HK$0.015 per share for the six months ending June 30, 2026, on October 12, 2026.

VPOWER GROUP (01608) announced its interim performance, reporting a shareholder loss of HKD 40.736 million.

Weineng Group (01608) announced its performance for the six months ending June 30, 2026, with revenue of HK$620 million, a year-on-year increase of 1.3%; the loss attributable to owners of the company was HK$40.736 million, compared to a profit of HK$20.683 million in the same period last year; the basic loss per share was HK$0.61.

LEADER EDU (01449) and NeuralFin have agreed to establish a strategic partnership in the field of artificial intelligence (AI) education.

Lide Education (01449) announced that on August 24, 2026, the company entered into a strategic cooperation agreement with NeuralFin Technology Limited (NeuralFin). The company and NeuralFin agree to establish a strategic partnership in the field of artificial intelligence (AI) education.

TK GROUP HLDG (02283) released its interim results, with shareholders' profit attributable to them amounting to HKD 21.91 million, a decrease of 74.75% compared to the same period last year.

Dongjiang Group Holdings (02283) released its interim results for the six months ending June 30, 2026, reporting revenue of HK$1.156 billion, an increase of 10.11% year-on-year; net profit for the period was HK$21.91 million, a decrease of 74.75% year-on-year; basic earnings per share stood at HK$0.026, and an interim dividend of HK$0.011 per share is proposed.

REMEGEN (09995) announced its interim results, achieving a net profit of approximately 4.662 billion yuan, turning from loss to profit year-on-year.

Rongchang Biotech (09995) announced its mid-year results for 2026, with product sales, R&D services, and licensing revenues totaling approximately 5.85 billion yuan, a year-on-year increase of 435.74%; R&D expenditure was approximately 414 million yuan, a year-on-year decrease of 36%; and profit for the period was approximately 4.662 billion yuan, marking a turnaround from loss to profit compared to the previous year.

SDMC (00901) has been selected for inclusion in the Hang Seng Composite Index constituents.

Huaxida (00901) announced that according to the results of the Hang Seng Index series review published by Hang Seng Indexes Company Limited on August 21, 2026, the company has been selected by Hang Seng Indexes Company Limited and will be included in the Hang Seng Composite Index constituents, effective from September 7, 2026.

US Stock Market Move | NVIDIA Corporation (NVDA.US) reported news of price increases for its servers, with the stock opening low and falling by 2.3%.

On Monday, NVIDIA (NVDA.US) opened lower and continued to decline, with a drop of approximately 2.3% as of this writing, bringing its market capitalization to $5.08 trillion.

The trade negotiations between the U.S. and Canada have collapsed! Trump announced that starting in 2027, the tariff on Canadian automobiles will be raised to 50%.

On Monday, U.S. President Trump announced that starting January 1, 2027, tariffs on imports of cars, trucks, and automotive parts produced in Canada will be increased to 50%. This announcement comes after trade negotiations between the U.S. and Canada broke down last Friday after weeks of discussions.

Anjoy Foods Group (02648) announced its interim results, with a net profit attributable to shareholders of 822 million yuan, an increase of 21.6% year-on-year.

Anhui Jin Foods (02648) announced its performance for the six months ending June 30, 2026, with total revenue of 9.266 billion yuan, a year-on-year increase of 21.9%; the net profit attributable to shareholders of the parent company was 822 million yuan, a year-on-year increase of 21.6%; basic earnings per share stood at 2.48 yuan.

CANOPY SKYFIRE (08245) intends to acquire 70% equity in Maoli Investment for HKD 5.07 million and 100% equity in Asian Link Limited.

Fengyi Group (08245) announced that on August 24, 2026 (after trading hours), the buyer Joy Ultima Holdings Limited (a wholly-owned subsidiary of the company) entered into an agreement with the seller Mr. Lui Hon Fai for the sale of shares, with a total consideration of HKD 5.07 million. The completion of the agreement is subject to the fulfillment of the conditions precedent set forth in the agreement.

Anjoy Foods Group (02648) will distribute an interim dividend of HK$2.0025 per share on October 13.

Anhui Ji Food (02648) announced that it will distribute a mid-term dividend of HKD 2.0025 per share on October 13, 2026.

WESTCHINACEMENT (02233) announced its interim results, with shareholders' profit attributable to the company amounting to 379 million yuan, a year-on-year decrease of 49.4%.

Western Cement (02233) announced its mid-term results for 2026, reporting revenue of 4.527 billion yuan (RMB, the same below), a year-on-year decrease of 16.5%; the profit attributable to shareholders was 379 million yuan, a year-on-year decrease of 49.4%; basic earnings per share were 6.9 cents.

US Stock Market Move | The U.S.-Canada automotive tariff dispute has resurfaced, causing Ford's (F.US) stock price to drop by 2.9%.

On Monday, the U.S. automotive sector faced pressure. As of the time of writing, Ford (F.US) shares were down 2.9%.

Luxshare Precision Industry (02475) announced its interim results, with net profit attributable to shareholders of approximately 7.843 billion yuan, a year-on-year increase of 18.04%.

Luxshare Precision (02475) announced its mid-term results for 2026, with operating revenue of approximately 174.504 billion yuan, a year-on-year increase of 40.16%; net profit attributable to shareholders of the listed company was approximately 7.843 billion yuan, a year-on-year increase of 18.04%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was approximately 5.962 billion yuan, a year-on-year increase of 6.47%; basic earnings per share were 1.0774 yuan, with a cash dividend of 1.1 yuan (tax inclusive) distributed for every 10 shares.

Jiangsu Hengrui Pharmaceuticals (01276): The drug marketing authorization application for HRG2010 capsules has been accepted.

Hengrui Medicine (01276) announced that it has recently received the "Acceptance Notification" issued by the National Medical Products Administration. The application for the marketing authorization of the company's HRG2010 capsules has been accepted by the National Medical Products Administration.

VIEWTRIX TECH (03310) has released its interim results, with revenue of 318 million yuan, deeply cultivating the brand AMOLED display driver chip market.

Yunying Valley Technology (03310) has released its interim results for the six months ending June 30, 2026, reporting revenue of 318 million yuan, a year-on-year decrease of 30.48%; the loss attributable to equity holders of the parent company was 151 million yuan, an increase of 0.77% year-on-year; the loss per share was 0.39 yuan.

TCL ELECTRONICS (01070) plans to achieve an independent listing for its photovoltaic business segment through a physical distribution method.

TCL Electronics (01070) announced that the company is considering a potential plan for the independent listing of its photovoltaic business segment through a physical distribution method. Based on preliminary assessments, the company believes that an independent listing of the photovoltaic business would allow it to focus more on its global smart home appliance segment, with a clearer strategic development direction. In addition, the potential separate listing would enable the photovoltaic business to implement an independent development strategy and broaden financing channels. The company believes this aligns with the overall best interests of the company and all shareholders.

PANASIALUM (02078) announced its interim results, reporting a net loss of HKD 54.216 million, an increase of 105.4% year-on-year.

Rongyang Industrial (02078) announced its performance for the six months ending June 30, 2026, with a revenue of HKD 138 million, a year-on-year decrease of 43.1%; a net loss of HKD 54.216 million, an increase of 105.4% compared to the same period last year; and a basic loss per share of HKD 0.0455.

US Stock Market Move | The newly established $1.59 billion "cash pool" for Strategy (MSTR.US) saw its stock price rise over 4%.

On Monday, Strategy (MSTR.US) continued its upward trend, rising over 4% as of the time of writing, and has increased by approximately 30% since August.

US Stock Market Move | The semiconductor sector collectively declined, with the Philadelphia Semiconductor Index falling over 3.5%.

The semiconductor sector collectively declined, with the Philadelphia Semiconductor Index dropping over 3.5%.

EUROEYES (01846) has issued a profit warning, expecting a mid-term loss attributable to shareholders of between HKD 10 million and HKD 17 million, a change from profit to loss compared to the same period last year.

Dexin Jia (01846) announced that the Group expects to incur a loss attributable to the Companys owners of approximately HK$10 million to HK$17 million for the mid-term period of 2026, whereas for the same period in 2025, the Group recorded a profit attributable to the Companys owners of about HK$38.4 million.

Luxshare Precision Industry (02475) expects its net profit attributable to shareholders in the first three quarters to grow by 15%-25% year-on-year.

Luxshare Precision (02475) announced that it expects to achieve a net profit attributable to shareholders of the listed company of 13.246 billion to 14.398 billion yuan from January 1, 2026, to September 30, 2026, representing a year-on-year growth of 15.00% to 25.00%.

JIMU GROUP (08187) issued a profit warning, expecting a comprehensive net loss of approximately HKD 6.5 million for the first half of the year, an increase of about 66.7% year-on-year.

The Block Group (08187) announced that it expects to incur a comprehensive net loss of approximately HKD 6.5 million in the first half of 2026, representing an increase of about 66.7% compared to the net loss of approximately HKD 3.9 million for the six months ended June 30, 2025 (first half of 2025).

SUN.KING TECH (00580) released its interim results, reporting a loss attributable to shareholders of approximately 26.742 million yuan, a turnaround from profit to loss compared to the same period last year.

Sai Crystal Technology (00580) announced its interim results for the six months ended June 30, 2026, with revenue of 1.269 billion yuan (RMB, the same below), an increase of approximately 42.9% year-on-year; the loss attributable to equity holders of the parent company was approximately 26.742 million yuan, compared to a profit of 93.773 million yuan in the same period last year; the basic loss per share was approximately 1.66 cents. A proposed interim dividend of HKD 0.01 per share is to be distributed.

S.F. Holding (06936) plans to invest up to 305 million yuan to subscribe for shares in Fengchao, deepening its strategic layout in last-mile logistics.

SF Holding Co., Ltd. (06936) announced that its indirectly wholly-owned subsidiary, Liangyue Company, plans to exercise its preferential subscription rights under the new issuance of Class A common stock of Fengchao and may exercise its excess preferential subscription rights at its discretion.

JPMorgan refutes the notion of an "AI credit bubble": record buybacks can support the arms race for AI computing power.

Kelsey Berro, a portfolio manager in JPMorgan Asset Management, stated that the investment-grade bond market will see a busy September, but the demand for corporate bonds suggests that concerns about an oversupply may be exaggerated.

SUN.KING TECH (00580) will distribute an interim dividend of HKD 0.01 per share on October 23.

Sai Jing Technology (00580) announced that a mid-term dividend of HKD 0.01 per share for the six months ended June 30, 2026, will be distributed on October 23, 2026.

REDCO GROUP (01622) issued a profit warning, expecting a mid-term net loss of approximately 1.05 billion to 1.15 billion yuan.

The Lihua Group (01622) announced that it is expected to incur a net loss of approximately RMB 1.05 billion to RMB 1.15 billion for the six months ending June 30, 2026, compared to a net loss of approximately RMB 709 million for the six months ending June 30, 2025; and it is expected to record a loss attributable to the company's owners of approximately RMB 1.35 billion to RMB 1.45 billion for the same period, while the loss attributable to the company's owners for the six months ending June 30, 2025, was approximately RMB 590 million.

US Stock Market Move | Storage chip concept stocks fell at the beginning of trading, with SanDisk (SNDK.US) dropping nearly 10%.

On Monday, U.S. stocks in the memory chip sector opened lower, with SanDisk (SNDK.US) falling nearly 10%.

GOLDPAC GROUP (03315) announced its interim results, reporting a loss attributable to shareholders of 14.593 million yuan, a shift from profit to loss compared to the same period last year.

Jinbang Dabaojia (03315) released its interim results for the six months ended June 30, 2026, showing revenue of 418 million yuan, a year-on-year decrease of 8.62%; the loss attributable to shareholders was 14.593 million yuan, compared to a profit of 23.532 million yuan during the same period last year; loss per share was 1.8 cents.

US Stock Market Move | Proposed issuance of new shares to raise $600 million; Applied Optoelectronics, Inc. (AAOI.US) opens lower, dropping over 16%.

On Monday, optical communication stock Applied Optoelectronics (AAOI.US) opened significantly lower, and by the time of this report, it had dropped over 16%.

CHI MER LAND (00978): Joint Venture Wins Bid for Hong Kong Land

China Merchants Shekou Industrial Zone Holdings Co., Ltd. (00978) announced that on August 24, 2026, its joint venture successfully won the bid granted by the Government of the Hong Kong Special Administrative Region based on the tender it submitted on July 3, 2026, for a land price of HKD 1.03 billion.

HUAYUEXPRESSWAY (01823) issues profit warning, expecting a mid-term shareholder loss of approximately 34.5 million to 38.1 million yuan.

Hua Yu Expressway (01823) announced that the group expects to achieve revenue of approximately RMB 59.5 million to RMB 65.7 million for the six months ending June 30, 2026, compared to revenue of approximately RMB 75.8 million for the six months ending June 30, 2025. The group also anticipates a loss attributable to shareholders of approximately RMB 34.5 million to RMB 38.1 million, while the loss attributable to shareholders for the six months ending June 30, 2025, was approximately RMB 23.3 million. The expected decrease in revenue and increase in loss attributable to shareholders are primarily due to the continuous contraction of the Chinese consumer market, resulting in a significant reduction in liquor sales, and provisions for severance pay during the period related to the Qingping Expressway (which ceased toll collection from July 2026).

ABBISKO-B (02256) successfully commercialized the core drug Beijiemai in the first half of the year, with continued ramp-up of R&D investment.

HeYu-B (02256) announced its mid-term results for 2026, with revenue of approximately 97.265 million yuan, gross profit of 95.505 million yuan, and R&D expenses of about 246 million yuan, representing a year-on-year increase of 8%.

Asymchem Laboratories (06821) announced its interim results, with a net profit attributable to shareholders of 520 million yuan, a year-on-year decrease of 15.71%.

Kailai Ying (06821) released its interim results for the six months ending June 30, 2026, with revenue of 3.607 billion yuan (RMB, the same below), representing a year-on-year increase of 13.13%; the net profit attributable to shareholders of the parent company was 520 million yuan, a year-on-year decrease of 15.71%; basic earnings per share were 1.45 yuan.

RUIFENG RENEW (00527) issued a profit warning, expecting a consolidated net loss of not less than approximately 700 million yuan for the interim period.

Ruifeng Green Energy Smart Computing (00527) announced that the group expects to incur a consolidated net loss of no less than approximately RMB 700 million for the six months ending June 30, 2026, while in the same period of 2025, it reported a consolidated net loss of approximately RMB 40.357 million.

China Railway Signal & Communication Corporation (03969) announced its interim results, with net profit attributable to the parent company of approximately 1.473 billion yuan, a year-on-year decrease of 9.07%.

China Communications Signal (03969) announced its interim results for 2026, with operating revenue of approximately 14.08 billion yuan, a year-on-year decrease of 3.98%; net profit attributable to shareholders of the listed company was approximately 1.473 billion yuan, a year-on-year decrease of 9.07%; basic earnings per share were 0.14 yuan.

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Xiamen Releases Twelve Measures to Promote Exchange and Cooperation with Taiwan

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Yuncong Technology: The company is deeply involved in the national standardized pilot project "Shanghai Virtual-Real Integration Embodied Intelligence Training Ground" and the "Humanoid Robot Qilin Training Ground" project.

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