GMT EIGHT - OPPORTUNITIES IN CHINA

WING CHI HLDGS (06080) Issues Profit Warning, Expects Interim Net Consolidated Loss Attributable to Shareholders of Not Less Than Approximately HK$12.2 million

WING CHI HLDGS (06080) announced that the Group expects to record a net consolidated loss attributable to owners of the Company of not less than approximately HK$12.2 million for the six months ended September 30, 2026 (the Period), compared to a net loss attributable to owners of the Company of approximately HK$12.9 million for the six months ended September 30, 2025.

The Insurance Authority of Hong Kong launches a public consultation on the review of annual fees and premium levies.

A spokesperson for the Insurance Authority of Hong Kong said: "This review is conducted in accordance with the original design of the funding source mechanism, to ensure that the Insurance Authority can effectively and sustainably perform its statutory functions, while minimizing the impact on policyholders and the international competitiveness of the insurance industry."

SBP GROUP (01177) Reaches Strategic Collaboration with Boehringer Ingelheim with Potential Total Value of US$7 Billion

SBP GROUP (01177) announced that the Group has entered into a strategic option and license agreement (the Agreement) with Boehringer Ingelheim. This is the second collaboration between the two parties in the oncology field, with both parties committed to jointly establishing a long-term strategic partnership.

CAFE DE CORAL H (00341) issues a positive profit alert, expecting interim profit attributable to shareholders of HK$95.8 million to HK$105 million, a year-on-year increase of 105% to 125%.

Cafe de Coral Holdings (00341) announced that the Group expects to record profit attributable to shareholders of between HK$95.8 million and HK$105 million for the six months ended September 30, 2026 (the review period), representing an increase of between 105% and 125% compared with HK$46.7 million for the six months ended September 30, 2025 (the corresponding period last year).

HENLIUS (02696): Phase 1 clinical trial of HLX109 injection (an anti-IL1RAP monoclonal antibody) for the treatment of generalized pustular psoriasis approved to commence in Australia

HENLIUS (02696) announced that recently, the Phase 1 clinical trial of its independently developed HLX109 injection (an anti-IL1RAP monoclonal antibody) (HLX109) for the treatment of generalized pustular psoriasis has been approved by the relevant Human Research Ethics Committee and has completed clinical trial notification with the Australian Therapeutic Goods Administration.

Joseph Chan: Hong Kong will formulate a medium- and long-term roadmap for commodities, advance RMB commodity futures and cross-border connectivity

Building on the existing cross-exchange product collaboration, the Hong Kong Financial Services and the Treasury Bureau will actively explore ways to further promote the coordinated development of the two places' commodity futures markets, drawing on the successful experience of the existing mutual market access mechanisms, provided that risks are controllable and the regulatory requirements of both places are met.

"AI disrupting everything" collides with refinancing pressure! Multiple hedge funds warn: software exposure and high interest rates deal a double blow to private credit

Prominent hedge funds are warning that private credit risks in global financial markets are increasing. Against the macroeconomic backdrop of heightened scrutiny over private credit investments this year amid the market shock of "AI disrupting everything," these warnings have further fueled discussion about how rising interest rates will affect this asset class.

Hong Kong's Commerce and Economic Development Bureau: The "Go Global Connect" platform has handled about 300 inquiries from enterprises seeking to expand overseas through online and offline channels.

The Go Global Task Force launched the cross-sector professional service platform "Go Global Connect" in April this year, bringing together eight categories of Hong Kong professional service providers to offer professional advisory services to mainland enterprises expanding overseas.

Hong Kong's Commerce and Economic Development Bureau: Over the past three years, Invest Hong Kong has assisted more than 1,600 enterprises in establishing operations in Hong Kong, expected to bring over HK$200 billion in direct investment.

Over the past three years, Invest Hong Kong has assisted more than 1,600 enterprises in establishing or expanding operations in Hong Kong, mainly from sectors such as innovation and technology, financial services and fintech, family offices, and tourism and hospitality. These are expected to bring over HK$200 billion in direct investment to Hong Kong.

All localities, departments, and mining enterprises must intensify efforts to combat illegal activities and violations, and ensure stable production and supply in an orderly manner.

From November 2 to 3, the National Mine Safety Administration held a national meeting on advancing safety construction for mine teams in Xianyang, Shaanxi Province. The meeting required that all localities, departments, and mining enterprises keep the string of work safety tightly stretched at all times, grasp all work in a solid and detailed manner with higher standards and stricter measures, and resolutely hold the bottom line of preventing major and especially major accidents. It is necessary to compact the main responsibility, deeply advance the implementation of the "eight hard measures," and achieve the "four in place" of safety investment, safety training, basic management, and emergency rescue. It is necessary to strengthen the crackdown on illegal activities and violations, continuously increase the of linking administrative enforcement with criminal justice for illegal and non-compliant acts, and severely crack down on illegal and non-compliant acts. It is necessary to orderly do a good job in stabilizing production and ensuring supply. Coal mining enterprises must coordinate development and safety well, carry out stable production and supply assurance in accordance with laws and regulations, and resolutely hold the safety red line.

New IPO News | Mapletree Capital said to be planning Singapore listing, expected to raise S$1 billion

Citing informed sources, the report said Temasek-backed Mapletree has selected Citigroup, DBS and Morgan Stanley to assist with its Singapore listing, expecting to raise about S$1 billion (approximately HK$6.13 billion).

A-share Market Close | Shanghai Composite Index Rises 2.16%, STAR 50 Gains 9.92%, Semiconductors Lead Gains

On November 4, A-shares opened mixed, fluctuated at low levels in the morning, rallied unilaterally in the afternoon, and closed with all five major indices posting sharp gains, with the Shanghai Composite Index closing at its intraday high.

New Stock News | Semight Instruments (688808.SH) reportedly selects investment banks for Hong Kong IPO, targeting listing next year with fundraising of over HK$7.8 billion

Semight Instruments announced in October that it plans to issue H shares and list on the Hong Kong Main Board.

Strong demand for the Wegovy oral tablet drove Novo Nordisk A/S Sponsored ADR Class B (NVO.US) Q3 revenue and earnings both to beat expectations, and the company once again raised its full-year performance guidance.

Novo Nordisk released its financial report for the first three quarters of 2026 on November 4.

HKTDC: Hong Kong leverages its international platform advantages to provide comprehensive support for mainland enterprises expanding overseas.

Hong Kong is one of the country's most international cities and can provide comprehensive support for mainland enterprises expanding overseas.

Hong Kong's ICAC charges former HKEX vice president with dishonest use of internal information system

Hong Kong's Independent Commission Against Corruption this morning (November 4) charged a former vice president of Hong Kong Exchanges and Clearing Limited (HKEX) with allegedly dishonestly accessing HKEX's internal information system, involving confidential information of listed companies.

Democratic "blue wave" could hit US stocks? Political gridlock may limit policy shifts; US stocks may not be "doomed"

Economist James Foord pointed out that a sweeping Democratic victory in the midterm elections would indeed change some things, but in practice, the White House has the ability to severely limit what Congress can do.

CFTC gives the green light! US stock "perpetual contracts" land on US soil, Cboe and CME are anxious.

The CFTC approves trading in stock perpetual contracts, with Kalshi first to launch underlyings including Amgen and McDonald's; Cboe and CME sue in opposition, and Warren warns it may trigger market volatility.

Democrats sweep both chambers, Texas governor's race flips! AI trade hit by a "left-tail event," data center moratorium rattles global chip stocks.

The market is reassessing the risks facing the AI industry chain on the regulatory and construction fronts. AI-related stocks came under broad pressure overnight, and the panic has spread further to Asian markets today, with Japanese and South Korean chip stocks at one point leading declines globally.

Hong Kong FinTech Week Main Forum Concludes Successfully; John Lee: Hong Kong Has Unique Advantages to Help Enterprises Expand into Global Markets

On November 3, the Hong Kong FinTech Week x StartmeupHK 2026 Main Forum concluded successfully at the Hong Kong Convention and Exhibition Centre.

Democratic Sweep of Congress Triggers Market Repricing: "Trump Trade" Under Broad Pressure, AI and Crypto Assets Lead Declines

According to media projections, the Democratic Party has won a historic victory in the U.S. midterm elections, a result that has rapidly reshaped global market expectations.

Spot silver breaks above $51/oz, up 2.51% intraday.

Joseph Chan: Hong Kong Continues to Expand the Digital Asset Ecosystem; Tokenized Bond Issuance Has Become Routine

Regarding the development policy for digital assets, Joseph Chan, Acting Secretary for Financial Services and the Treasury of Hong Kong, replied to a lawmaker's question.

Hui Ching-yu: Beijing and Hong Kong Have Complementary Advantages and Broad Space for Collaborative Development

Regarding the further deepening of Beijing-Hong Kong cooperation in the future, especially how to seize new development opportunities, Hui Ching-yu put forward four ideas.

MPF Ratings: Hong Kong MPF investments lost 2.56% in October, with an average loss of HK$8,671 per person

In October, MPF recorded an investment loss of 2.56%, bringing the year-to-date return down to 3.48%, marking the first consecutive two-month decline for the MPF system since March and April 2025.

2027 "Beijing Inclusive Health Insurance" opens for enrollment; YIDU TECH (02158) serves as lead operator for the sixth consecutive year.

The 2027 "Beijing Inclusive Health Insurance" continues to uphold its mission of benefiting the public with "low threshold, broad coverage, and high protection." The premium remains unchanged at RMB195 per year, with cumulative coverage of RMB3.5 million. The product's coverage includes in-network out-of-pocket expenses, out-of-network inpatient self-paid expenses, and the costs of 165 high-cost specialty drugs from both domestic and overseas sources.

Rising expectations of a Democratic sweep of Congress are roiling financial markets! US stock futures, the dollar, Bitcoin and copper prices are all under pressure in unison, while US Treasuries are instead drawing strong demand.

Preliminary results from the US midterm elections show a rising likelihood that Democrats will win majority seats in both chambers of Congress. This risk is now spilling over into financial markets.

A-share Midday Review | Shanghai Composite Index down 0.10%, semiconductors strengthen, "Yang"-related stocks hit limit-down in batches

The market showed a pattern of "narrow index fluctuations, more decliners than advancers, and divergence between technology hardware and theme stocks."

U.S. midterm election betting volume surges; prediction markets wager on Democrats sweeping both chambers

As U.S. midterm election betting volume surges, prediction markets are increasingly pricing in expectations of a Democratic sweep.

HKD interbank rates fall across the board; one-month rate reverses gains to 2.64%, a more than two-month low

On November 4, HKD interbank rates fell across the board, with the one-month rate, which is linked to mortgage loans, at 2.63982%, down 4.018 basis points.

2026 World Internet Conference Opens: Waterdrop, Inc. ADR Class A (WDH.US) Shen Peng Discusses AI Industry Applications in Wuzhen

On November 3, the 2026 World Internet Conference Wuzhen Summit opened in Wuzhen, Zhejiang.

EVEREST MED (01952) Hosts Another mRNA R&D Day as Its Proprietary Platform Enters the Clinical Validation Stage

From a platform layout perspective, Everest Medicines is advancing the coordinated development of its proprietary AI neoantigen sequence prediction algorithm and mRNA/LNP technology, and has built a cutting-edge pipeline covering personalized neoantigen vaccines, universal tumor vaccines, immunomodulatory vaccines, and in vivo CAR-T.

John Lee: Hong Kong and Beijing will further strengthen cooperation in three key areas in the future.

The Beijing-Hong Kong Economic Cooperation Symposium has been held since 1997, and over nearly three decades it has yielded fruitful results and rich rewards.

JP Morgan: Memory fundamentals remain solid; still bullish on SK Hynix (SKHY.US), Samsung, and Kioxia

J.P. Morgan believes memory fundamentals remain solid and prices are expected to stay elevated in 2027, but there are no near-term catalysts.

All three major indices turned negative, with the ChiNext Index previously rising more than 1.3% at one point.

Goldman Sachs: Raises Hong Kong's 2026 GDP growth forecast to 5%, 2027 forecast up to 3.1%

Goldman Sachs raised its 2026 GDP growth forecast for Hong Kong from 4.2% to 5%, and its 2027 forecast from 2.4% to 3.1%, mainly reflecting stronger-than-expected third-quarter economic growth and continued support for the trade and logistics sectors from the ongoing AI capital expenditure cycle.

Arista Networks (ANET.US) Q3 Earnings Call: CEO Says More Than 100 Ethernet AI Customers, Entering AI Super Cycle; First-Time Guidance of US$18.5 Billion Revenue for 2027

Arista Networks released its third-quarter 2026 results for the period ended September 30 and held an earnings call after market close the same day.

From breaking below the issue price to firmly holding above it, does Estun Automation (02715)'s Q3 report hide a "profit revaluation" card?

The value of this earnings report goes far beyond the growth in numbers.

Super Micro Computer, Inc. (SMCI.US) Q1 Earnings Call: Sequential Decline in Gross Margin Does Not Mean AI Business Lacks Profitability; Days Sales Outstanding Decreased

Super Micro Computer released its fiscal year 2027 first-quarter results after the market close on Tuesday and held an earnings conference call.

Ministry of Commerce: China's total services imports and exports reached RMB5.76877 trillion in the first nine months, up 8.5% year on year.

Recently, the head of the Department of Trade in Services and Commercial Services of the Ministry of Commerce introduced the development of trade in services from January to September 2026.

A-share Market Open Brief | The three major indices opened mixed, with the precious metals sector leading gains.

On November 4, the Shanghai Composite Index opened 0.08% lower at 3,605.39 points, the Shenzhen Component Index opened 0.17% higher at 10,895.80 points, the ChiNext Index opened 0.33% higher at 2,399.46 points, and the STAR 50 Index opened 0.09% higher at 1,152.34 points.

National Bureau of Statistics: In late October, prices of 17 major production materials in the circulation sector rose, 28 fell, and 5 remained flat.

On November 4, the National Bureau of Statistics released the price changes of important production materials in the circulation sector for late October 2026.

Nasdaq 100 futures extend losses to 2%, S&P 500 futures down 0.85%, Dow futures down 0.35%.

AMD (AMD.US) Q3 Earnings Call: Lisa Su Responds to Supply Constraints, Expects Revenue Growth of Over 80% in 2027

AMD (AMD.US) held its Q3 fiscal year 2026 earnings conference call after the U.S. market close on November 3, Eastern Time.

Amgen (AMGN.US) Q3 Earnings Call: Raises Full-Year Revenue and EPS Guidance; Management Expects Very Rapid First-Line Uptake of IMDELLTRA

The most closely watched topic on this earnings call was not the magnitude of the beat, but the first-line maintenance data for IMDELLTRA (tarlatamab) presented at the ESMO Congress.

Algernon Yau attends APEC Ministerial Meeting via video conference, stresses importance of strengthened cooperation among member economies

On the evening of November 3, the Secretary for Commerce and Economic Development of Hong Kong, Algernon Yau, attended the 37th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting held via video conference.

PBOC: Starting from November 4, 2026, the interest rate on relending for stock repurchases and increased holdings will be lowered by 0.25 percentage points to 1%.

The People's Bank of China is stepping up implementation of the relending policy for stock repurchases and increased holdings.

The "Goldilocks" rally may be over! Citi's model turns bearish on tech stocks as funds shift heavily into defensive sectors.

Citi noted in its latest research report that its fund flow model has completed a decisive withdrawal from the tech sector, establishing materials, communication services, and healthcare as priority long positions while pushing tech into net short territory.

Commodity futures open

Low sulfur fuel oil fell 4.65% consecutively, fuel oil fell 3.37% consecutively, tin fell 3.18% consecutively, caustic soda rose 2.96% consecutively, and palm oil fell 2.40% consecutively.

A-share Pre-market Briefing | Nasdaq rises 0.83%; brokerage wins RMB34 billion bid; electronic cloth prices increase

The Nasdaq rose 0.83%, and the Philadelphia Semiconductor Index rose 2.64%.

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Morgan Stanley is bullish on Marathon Petroleum (MPC.US): Q3 results beat expectations, refining strength combined with midstream resilience, price target raised to $458.

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Shanghai Pharmaceuticals (601607.SH) subsidiary's treprostinil diethanolamine inhalation powder aerosol receives clinical trial approval

5 m ago

Wing Chi Holdings (06080.HK) issues profit warning, expecting interim net consolidated loss attributable to shareholders of not less than approximately HK$12.2 million

6 m ago

Datang Renewable Power (01798.HK): "26 Datang Renewable SCP005" will make principal and interest payment on November 13.

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Kemate Technology (301611.SZ) actual controller proposes repurchasing 70 million yuan to 120 million yuan of the company's shares.

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