GMT EIGHT - OPPORTUNITIES IN CHINA

BJ ENT WATER (00371) announced its interim results, with a profit attributable to shareholders of 688 million yuan, a year-on-year decrease of 23.31%.

Beijing Enterprises Water Group (00371) announced its performance for the six months ended June 30, 2026. During this period, the group recorded operating revenue of RMB 9.871 billion, a year-on-year decrease of 5.62%; the profit attributable to shareholders was RMB 688 million, a year-on-year decrease of 23.31%; basic earnings per share were 6.43 cents; and a mid-term dividend of 5.54 Hong Kong cents per share is proposed.

A-shares Midday | Three Major Indices All Closed Higher, Brokerages, Non-ferrous Metals, and Nuclear Fusion Lead the Surge

The A-share market rebounded in the morning, showing a pattern of "collective increase in indices, widespread rise in individual stocks, with large financials and non-ferrous metals leading the way."

From the strong mid-year results, we can see the changing growth logic of ZIBUYU (02420): the TikTok business saw a year-on-year surge of over 600%, gradually reducing its dependence on a single platform.

Zibuyu is evolving from relying on a single platform to becoming a fashion brand cross-border e-commerce company that develops in a balanced manner across multiple channels.

Waterdrop, Inc. ADR Class A (WDH.US) aims to address the clinical recruitment challenges in extensive-stage small cell lung cancer through Yi Fan Pharmaceutical, setting a new standard for services.

Yifan Pharmaceutical of Waterdrop Company solves the recruitment challenges for clinical trials of extensive-stage small cell lung cancer.

The unified index for medical insurance pathology has officially launched, enabling precise medical care through seamless code interoperability.

On August 14, 2026, the National Healthcare Security Administration officially issued the "Medical Insurance Pathology Cloud Index" coding specification.

SHIYUE DAOTIAN (09676) reported revenue of 3.814 billion yuan in the first half of the year, leading to a model-driven valuation reassessment.

Both income and profits have increased, with the growth model continuously releasing results. The dividend yield exceeds 8%. Household food leader October Rice Field (09676) showcases its performance strength to the market once again.

The balance of whether the Bank of Korea will raise interest rates hangs in the balance until the last moment, with economists greatly divided over whether to take action this Thursday.

The Bank of Korea will weigh whether to continue raising interest rates, as economic growth and inflation remain strong.

The Hong Kong dollar interbank offered rate developed unevenly, with the one-month rising by 1.155 basis points to 2.79411%.

On August 26, Hong Kong dollar interbank offered rates developed in a mixed manner, with the one-month interbank offered rate related to mortgage loans reported at 2.79411%.

The Token Factory layout has exceeded performance expectations, and the value reassessment of PHANCY (06682), positioned at the nerve center of the industry, is imminent.

This mid-term financial report is undoubtedly a compelling "touchstone." Paradigm Intelligence's "Token Factory" layout has already achieved substantial and unexpected results in terms of performance, becoming the core growth engine driving the company's fundamental explosion.

Ceasefire negotiations between the U.S. and Iran make significant progress.

Iran and Oman have reached an agreement to temporarily restart navigation in the Strait of Hormuz; both countries have committed to continue negotiations in the coming months to finalize a more "permanent" solution.

BINHAI INV (02886) Performance Shines: Sales Volume Increases, Profit Improvement May Drive Stock Price Rebound

Binhai Investment (02886) is a city gas stock that is relatively undervalued by the market.

BINHAI INV (02886) reports impressive interim results as new projects gradually achieve scale, with the valuation expected to improve.

The group achieved simultaneous growth in both revenue and profit, demonstrating the resilience of its core business. At the same time, leveraging the resources of its two major shareholders, it is accelerating its transformation into a comprehensive energy supplier, opening up medium to long-term growth opportunities.

"The brutal summer" prophecy takes a sharp turn! Castle Securities turns bullish on U.S. bonds, betting on a decline in long-term yields.

Frank Flett now believes that the risk balance has shifted in favor of a rebound in U.S. Treasuries. He points out that the short positions in the bond market are overly crowded, while inflation data is improving.

AAC TECH (02018) CFO Guo Dan: Revenue is expected to grow by double digits in 2026, and the AI new business is expected to exceed 8 billion next year.

Guo Dan stated that, facing pressure from the external market environment, the management remains cautiously optimistic about the operations for the entire year, expecting double-digit revenue growth for the year and a steady increase in gross margin from a base of 22.4%.

Bank of America: The U.S. semiconductor sector may drop another 10%, but there is now an "enhanced buying" opportunity. These eight chip stocks are the top choices for low-entry positions.

Bank of America stated that several factors may lead to a decline in chip stocks, but they also create buying opportunities.

Anthropic throws out a $30 trillion TAM "super narrative," sprinting towards a $2 trillion IPO with "rocket-like growth."

According to reports, the artificial intelligence company Anthropic is expected to tell investors that its total addressable market (TAM) exceeds $30 trillion, higher than SpaceX's previous estimate of $28.5 trillion.

Three dissenting votes from the FOMC + support from four regional Federal Reserve board members for interest rate hikes reveal divisions within the Federal Reserve.

Before the Federal Reserve's interest rate meeting in July, the boards of four of the twelve Federal Reserve Banks voted to support raising the discount rate.

A-share opening report | Shanghai Composite Index opened down 0.20% but turned positive, with the paper and biotechnology sectors leading the gains.

On August 26, the A-shares opened with Shanghai weaker and Shenzhen stronger, showing index divergence.

Revenue surged by 70.4%, intelligent body business doubled, and HaiZhi Technology (02706) has entered the period of large-scale realization in theAI.

On August 25, Haizhi Technology (02706) announced its unaudited interim results for the six months ending June 30, 2026.

Bessenet's intervention in the bond market has faced stern warnings from its "mentor" Druckenmiller: artificially suppressing yields is a "deferred subsidy," which will be unsustainable in the long run.

U.S. Treasury Secretary Scott Bessent's recent interventions in the bond market have led to a slight retreat in long-term yields, but they have also sparked a growing number of questions.

METIS TECHBIO-P (07666) 2026 Interim Report: Half-year revenue surpasses last year's total by 47%, achieving leapfrog growth and leading the implementation of AI4S in life sciences.

On August 25, Jitai Technology disclosed its mid-year performance for 2026. During the reporting period, the company's operating revenue reached 154 million yuan, a substantial increase of 13,339% year-on-year, exceeding last year's total revenue by 47%.

NVIDIA Corporation (NVDA.US) Ends Seven-Day Decline Before Earnings; Institutions Say: Simply Exceeding Profit Expectations Isn't Enough, Capital Roadmap Becomes Key.

Nvidia not only needs to deliver earnings data that exceed expectations, but also needs to provide the market with specific details regarding capital allocation and the maintenance of investment plans.

A-shares Pre-Market Report | Easing of US-Iran Diplomacy Leads to a Plunge in Oil Prices, Optical Communication and Storage Concepts Counterattack, Alibaba's US Stocks Surge Temporarily

The United States and Iran have reached a consensus on the terms of a ceasefire agreement, which includes free navigation in the Strait of Hormuz, and Brent crude oil temporarily fell by 6%.

Brokerage Morning Meeting Highlights | Positive Outlook on Investments in the Power Industry Chain

CITIC Construction Investment believes in the positive investment outlook for the power industry chain; Huatai Securities contends that negative feedback from capital has yet to materialize; China International Capital Corporation believes that the supply-demand pattern of tantalum and niobium is being reshaped, leading to a revaluation of strategic value.

DEEPZERO (02723) has signed a strategic cooperation memorandum of understanding with Deloitte China.

Deep Intelligence (02723) announced that the company has signed a strategic cooperation memorandum with Deloitte Consulting (Shanghai) Co., Ltd. (Deloitte China). Deloitte China has long been committed to serving large enterprises in complex transformations and has accumulated extensive experience in AI strategic planning, industry insights, data governance, and organizational change.

GENFLEET-B(02595): GFH375 (an oral KRAS G12D inhibitor) has entered a Phase II study for first-line treatment of non-small cell lung cancer, which will explore multiple treatment regimens including monotherapy, combination with EGFR monoclonal antibodies, or chemotherapy.

JinFang Pharmaceutical-B (02595) announced that GFH375 has entered a Phase II study for the first-line treatment of advanced non-small cell lung cancer (NSCLC) with KRAS G12D mutation, including three treatment regimens: monotherapy, combination with EGFR monoclonal antibody (Cetuximab), or combination with chemotherapy (Pemetrexed).

VIX futures have sounded the alarm in advance! The U.S. midterm elections in November are expected to become a window of high volatility for U.S. stocks.

Traders in the equity derivatives market have begun preparing for a potential increase in volatility around the November U.S. midterm elections.

MANULIFE-S (00945) will distribute a second-quarter dividend of CAD 0.485 per share on September 21.

Manulife Financial-S (00945) announced that it will distribute a second quarter dividend of CAD 0.485 per share on September 21, 2026.

BRETON (01333) expects to incur a loss of approximately 80 million to 90 million yuan in the medium term, narrowing by about 45.93% to 51.67% compared to the same period last year.

Boreton (01333) announced that based on the information currently available to the board and a preliminary assessment of the groups unaudited consolidated management accounts for the six months ending June 30, 2026 (the "period"), it is expected that the group will incur a loss of approximately RMB 80 million to RMB 90 million during this period, representing a decrease of approximately 45.93% to 51.67% compared to the loss of approximately RMB 174 million incurred in the same period of 2025.

AKESO (09926): The AK112309/HARMONi-GI1 Phase III clinical trial achieved statistically significant positive results in overall survival (OS) when comparing the efficacy of Abraxane combined with gemcitabine to that of Atezolizumab combined with chemotherapy, indicating substantial clinical benefits.

Kangfang Biotech (09926) announced that the interim analysis results of the randomized, controlled, double-blind, multicenter Phase III clinical study (AK112309/HARMONi-GI1) comparing the company's independently developed world-first bispecific antibody YidaFang (Ivosidenib, PD-1/VEGF) combined with chemotherapy regimen against Durvalumab (PD-L1) combined with chemotherapy regimen for first-line treatment of advanced biliary tract cancer, evaluated by the independent data monitoring committee (IDMC), demonstrated that the study achieved the primary endpoint of overall survival (OS), yielding statistically significant and clinically meaningful positive results; the study also met all key secondary endpoints of progression-free survival (PFS) and objective response rate (ORR).

ZAI LAB (09688) released its interim results, reporting a net loss of $102 million, with R&D expenses increasing by 14% year-on-year to $127 million.

Zai Ding Medical (09688) announced its results for the six months ending June 30, 2026, during which the group achieved a total revenue of $206 million; a net loss of $102 million; and a basic loss per share of $0.09.

Federal Reserve's Barkin warns: As U.S. debt continues to rise, it will eventually face "liquidation."

Federal Reserve official Barkin stated that the increasing U.S. debt will ultimately lead to a reckoning.

Hong Kong Stock Concept Tracking | Live Pig Prices Have Increased by Over 7.5% Since August, Institutions Focus on the Valuation Repair of Breeding Enterprises (Including Related Stocks)

The price of live pigs has "bottomed out" and is rising, having increased by over 7.5% since August.

NEWTREND GROUP (02573) announced its interim results, reporting a loss of 64.73 million yuan for the period, a swing from profit to loss compared to the same period last year.

New Qian'an (02573) announced its results for the six months ending June 30, 2026. During this period, the group recorded revenue of 204 million yuan, a year-on-year decrease of 39.06%; it incurred a loss of 64.73 million yuan, turning from profit to loss compared to the same period last year; basic loss per share was 0.67 yuan.

New Stock News | Chuangli International files for listing on the Hong Kong Stock Exchange GEM, primarily engaging in dismantling projects as a main contractor in Hong Kong.

According to the prospectus, Chaw Lee International primarily engages in demolition projects in Hong Kong as a general contractor.

Zhongtai: The trump card of the U.S. debt issue has already been seen through by investors around the world.

The bank advises investors to actively pay attention to opportunities in the precious metals sector and the industrial metals sector.

AI infrastructure has devolved from "technological narrative" into "poisoned ballots"! Wall Street is sounding a unified alarm: AI trading faces political risks from the mid-term elections.

Wall Street warns that American voters' anger over the development of artificial intelligence may pose risks to AI trade.

FIRST TRACTOR (00038) released its interim results, with a net profit attributable to shareholders of 782 million yuan, an increase of 1.72% year-on-year.

First Tractor Company Limited (00038) announced its interim results for the six months ended June 30, 2026. During this period, the group achieved total operating revenue of 7.886 billion RMB, an increase of 13.84% year-on-year; net profit attributable to shareholders of the parent company reached 782 million RMB, up 1.72% year-on-year; and basic earnings per share was 0.6962 RMB.

The outlook remains moderate after the product line expansion! Zoom (ZM.US) Q2 performance exceeded expectations, but the Q3 guidance failed to boost investor confidence.

Zoom reported better-than-expected second-quarter results for fiscal year 2027, but at the same time gave a somewhat lackluster revenue guidance for the third quarter, which disappointed investors who had hoped that the company's expanding product portfolio would lead to greater growth.

CMSC: Outlook on the Trend of U.S. Treasury Yields and Their Impact

CITIC Securities stated that in the current phase where risks related to U.S. Treasury yields have not yet been resolved, gold may experience high-level fluctuations and is an important asset for hedging portfolio risks; the stock market can achieve balanced allocation through a combination of dividends and small-cap growth.

New Stock News | Sublime China Information (301299.SZ) Re-files for Listing on the Hong Kong Stock Exchange, Ranking Second in China's Commodity Information Service Industry.

According to Zhuangshi Consulting, based on 2025 revenue, the company ranks second in China's bulk commodity information service industry, with a market share of 12.4%.

NOAH HOLDINGS (06686) released its interim results, with net profit attributable to shareholders reaching 357 million yuan, an increase of 9% year-on-year. The company will continue to invest in talent development and technological infrastructure.

Noah Holdings (06686) announced its interim results for the six months ending June 30, 2026. During this period, the group achieved a net revenue of 1.246 billion yuan, an increase of 0.1% year-on-year; the net profit attributable to shareholders was 357 million yuan, a year-on-year increase of 9%; basic earnings per share were 1.04 yuan.

New Stock News | Chuangli International Submits Application for Hong Kong Stock Exchange GEM

According to the prospectus, Chao Li International mainly engages in demolition projects in Hong Kong as a general contractor.

CLOVER BIO-B (02197) announces mid-term results, with profit attributable to equity holders of the parent company reaching 955 million yuan, turning a profit compared to the previous year.

Sanyecao Biotechnology-B (02197) announced its results for the six months ending June 30, 2026. During this period, the group reported revenue of RMB 179,000, a year-on-year decrease of 94.5%; other income and gains amounted to RMB 1.1112 billion, a year-on-year increase of 6200.94%; profit attributable to equity holders of the parent company was RMB 955 million, turning from loss to profit year-on-year; basic earnings per share were RMB 0.75.

New Stock News | Sublime China Information (301299.SZ) resubmits application to Hong Kong Stock Exchange.

According to the Hong Kong Stock Exchange's disclosure on August 25, Shandong Zhuo Chuang Information Co., Ltd. (referred to as Zhuo Chuang Information, 301299.SZ) submitted its listing application to the main board of the Hong Kong Stock Exchange, with Ping An Securities (Hong Kong) as its sole sponsor.

FWD (01828) released its interim results, with after-tax operating profit rising by 20% to $298 million.

Fosun International Group (01828) announced its performance for the six months ending June 30, 2026, reporting a 7% year-on-year increase in sales from new business, calculated based on annualized new premiums, reaching $1.35 billion. The service margin from new business contracts was $996 million, a year-on-year growth of 25%. After-tax operating profit rose by 20% to $298 million.

Overnight US stocks | The U.S. and Iran have reached a consensus on a ceasefire, and the three major indices closed higher. NVIDIA Corporation (NVDA.US) rose more than 2%.

As of the market close, the Dow Jones Industrial Average rose 160.07 points, an increase of 0.30%, to 53,577.23 points; the S&P 500 index rose 24.36 points, an increase of 0.32%, to 7,677.22 points; the Nasdaq Composite Index rose 171.11 points, an increase of 0.66%, to 26,151.30 points.

Besenet's intervention has begun to show results as the spread of U.S. Treasury yields has significantly narrowed. Long bond traders are betting on further declines in yields.

Despite long-term U.S. Treasury yields remaining near multi-year highs, the latest market indicators show that the Treasury's intervention is beginning to take effect, and traders are increasingly reluctant to challenge the policy force referred to in the market as the "Basement Put."

IMF President urges nations to address fiscal issues: central banks must focus on combating inflation. The AI boom supports the global economy.

Kristalina Georgieva, the Managing Director of the International Monetary Fund, warned on Tuesday that as the global economy faces multiple challenges, including fiscal pressures, high inflation, and geopolitical conflicts, governments must formulate credible fiscal consolidation plans, while central banks around the world need to continue prioritizing inflation control as the core of their policies.

SpaceX (SPCX.US) is investing $100 billion to build the Starship super launch base, aiming to deploy a million space data center satellites.

SpaceX plans to build a new Starship launch facility in southern Louisiana, USA, with an investment of up to $100 billion, further expanding the launch capabilities of this heavy rocket.

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Citigroup: Initiates "Buy" rating for Zijin Mining International (02259), optimistic about production growth and gold price outlook.

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Ganfeng Lithium: Progress on Subsidiary's Involvement in Investment Limited Partnership Matters

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Zhichun Technology (603690.SH) plans to transfer part of its shares in the affiliated company Weidun Crystal Phosphate for 20 million 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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