Pre-market Hong Kong Stocks: Hang Seng Index Futures Down 0.42%; Vanke's Wanyun Cloud Cleared for HK Listing, Dingdang Health (09886) Opens IPO Subscription

Overnight Foreign Market Review

U.S. stocks fell for the fourth consecutive trading day on Wednesday. All three major indices dropped more than 4% in August. The Federal Reserve's continued commitment to aggressive interest rate hikes to curb inflation is still weighing on the market. At the close, the Nasdaq Index fell by 0.56%, with a cumulative loss of 4.64% in August; the Dow Jones Index fell by 0.88%, with a cumulative loss of 4.06% in August; and the S&P 500 Index fell by 0.78%, with a cumulative loss of 4.24% in August.

Popular Chinese stocks rose against the trend, with Pinduoduo and Bilibili up over 7%, Alibaba up 1.67%, JD.com up 3.22%, Baidu up 4.56%, iQIYI up 3.10%, and AMTD Digital up 14.07%. Another "monster stock" emerged among Chinese stocks as Addentax Group, which transferred from OTC to NASDAQ, surged over 80 times on its first day (the stock’s issue price was $5, and Tuesday's OTC closing price was $7.5).

New York gold futures closed down 0.6% on Wednesday, with a cumulative drop of 3.1% in August; U.S. WTI crude oil closed down 2.3% on Wednesday, with a cumulative drop of 9.2% in August.

HSI Futures Night Session Closes at 19,741 Points, Down 0.42%.

The Nikkei 225 Index opened down 294.53 points, or 1.05%, at 27,797.00.

The detailed market data is as follows:

HK Stocks Pre-Market Important News Summary

1. State Council Executive Meeting: Support Rigid and Improved Housing Demand, Promote Large-scale Consumption such as Automobiles

Premier Li Keqiang presided over a meeting of the State Council. The meeting pointed out that the "streamline administration and delegate power, improve regulation, and upgrade services" reform approach should be used to further promote the effectiveness of a package of policies for economic stability. Detailed rules for follow-up policies should be released as soon as possible in early September, focusing on expanding effective demand and consolidating the foundation of economic recovery. Support for both rigid and improved housing needs will be provided, with local governments employing a "city-specific strategy" to make flexible use of policy toolkits, including phased credit policies and special loans for ensuring the completion of housing projects. Efforts will also be made to promote major consumption items such as automobiles.

2. Vanke's subsidiary Wanshi Cloud passes the Hong Kong Stock Exchange listing hearing

According to the document, Vanke Property, the property management service provider under the group, has passed the listing hearing of the Hong Kong Stock Exchange, with Citic Securities, Citi, and Goldman Sachs as the joint sponsors.

The disclosed data shows that during 2019, 2020, and 2021, the revenue of Vanke Cloud increased by 30.3% from RMB 13.927 billion in 2019 to RMB 18.146 billion in 2020, and further increased by 30.6% to RMB 23.705 billion in 2021; it also increased from RMB 4.748 billion for the three months ended March 31, 2021, to RMB 6.848 billion for the three months ended March 31, 2022.

3. Evergrande Real Estate: Expected to Be Unable to Complete the 2022 Semi-Annual Financial Report Disclosure on Time by August 31

Evergrande Real Estate Announcement: Due to significant changes in the operating conditions of Evergrande Real Estate, the auditing firm has added a substantial number of additional audit procedures. Currently, the company has not yet completed the 2021 annual audit work or the preparation of the 2022 semi-annual financial report. In view of the current situation, the company expects that it will be unable to complete the disclosure of the 2022 semi-annual financial report by August 31, 2022, as scheduled.

4. Eight European countries and the EU decide to increase Baltic Sea wind power capacity sixfold by 2030

Heads of State or Government of 8 European Countries and EU Leaders Sign the "Marienborg Declaration" at Baltic Sea Energy Summit, Agree to Strengthen Energy Security and Offshore Wind Power Cooperation

The participating countries of this summit include Denmark, Sweden, Poland, Finland, Estonia, Latvia, Lithuania, and Germany. The "Marinburg Declaration" signed at the conference also plans to lay a 470-kilometer-long cable connecting Germany from Bornholm Island in Denmark, located in the Baltic Sea, to transmit electricity when needed.

Today's Trading Focus

New Share Activity:

Biocytogen (02315) was listed today, closing at HK$26.2 on Phillip Securities' grey market yesterday, nearly 4% higher than the offer price. Chongqing Hongjiu Fruit (06689) will be listed next Monday.

Dingdang Health (09886) offered shares for subscription from September 1 to September 6, 2022, planning to issue 33,537,000 shares, with 10% allocated for Hong Kong public offering and 90% for international placement. There is also a 15% over-allotment option. The offering price is HK$12.00 per share, with each lot consisting of 500 shares, and the entry fee is HK$6,060.47. The shares are expected to be listed on September 14.

Economic Calendar：

1. 10:00 AM Press Conference on "Several Policy Measures to Support the Elderly Care and Childcare Service Industries" held by the State Council Information Office

2, 16:00 Final Eurozone August Manufacturing PMI

3, 17:00 Eurozone July Unemployment Rate

4. 20:30 U.S. Initial Jobless Claims for the Week Ending August 27

5, 21:45 US August Markit Manufacturing PMI Final

Earnings Announcement:

AnYu Asia, Weibo-SW, Sun e-Info Group, China QuanTong.

Company Announcement

Positive Announcement

Xingkerong Pharmaceutical (06833) Releases Mid-term Results: Net Profit of 61.9 Million Yuan, Decreased by Approximately 17.74% Year-on-Year

Gome Retail (00493) Sees Significant Increase in Comprehensive Gross Profit Margin to 19.8% in H1, Operating Cash Flow Improves Substantially; Company to Focus on Core Business, Enhance Operational Efficiency to Boost Profitability

Lenovo Holdings (03396) Reports H1 Net Profit Attributable to Equity Holders of RMB 2.131 Billion, Revenue and Net Profit of Industrial Operations Segment Both Grow Against the Trend

Grand China (02789) Releases Mid-Term Results, Shareholder Profit of 4.726 Million Yuan, Down 24.32% Year-on-Year

Sany International (00631) Releases Mid-term Results, Shareholder Profit Attributable Approximately RMB 906 Million, Increasing by Approximately 11.7% Year-on-Year

China Minsheng Holdings (00681) Announces Interim Results: Shareholders' Profit of 4.07 Million Yuan, Decreased by 96.15% Year-on-Year

Central China Holdings (01735) Announces H1 Results: Shareholder Profit of HK$7.849 Million, Turning Loss into Profit Year-on-Year

Rizhao Port Yulong (06117) Releases Mid-Term Results, Net Profit of 113 Million Yuan, Up 26.8% Year-on-Year

Venus Medtech-B (02500) Releases Mid-Term Results, R&D Costs Reach 220 Million Yuan, Increasing by 111.2% Year-on-Year

LeaderJoy Service Group (02165) Releases Mid-Term Results, Shareholder Profit of 46.065 Million Yuan, Up 28.91% Year-on-Year

Imperial Holdings (01950) Announces Interim Results: Profit Attributable to Owners of 257,000 Yuan, Decreased by 97.14% Year-on-Year

Eggtronic Innovation (00400) Releases Mid-Term Results, Shareholder Profit Attributable to 132 Million Yuan, Up 19.2% Year-on-Year

Territory Holdings (06999) Releases Mid-Term Results, Profit Attributable to Shareholders at 3.89 Million Yuan, Decreased by 94.72% Year-on-Year

Simcere Pharmaceutical (02096) Achieves RMB 2.7 Billion in Revenue for the First Half of the Year, Up 27.3% Year-on-Year, with Strong Growth in Innovative Drug Revenue

Huijing Holdings (09968) Releases Mid-term Results, Achieving Revenue of 52.9 Million Yuan and Land Reserves of Approximately 3.1357 Million Square Meters

Meitu Company (01357) Releases Mid-Year Performance, Net Adjusted Profit Attributable to Shareholders at 35.988 Million Yuan, Up 7.9% Year-on-Year; Strong Growth in VIP Subscription Business

Longfor Group (03380) Releases H1 Performance, Revenue of RMB 12.629 Billion, Total GFA of Land Reserves at 33.2608 Million Square Meters

China Oriental Group (00581) Announces Interim Results: Profit Attributable to Shareholders at RMB 1.199 Billion, Down 23.7% Year-on-Year; Proposes Interim Dividend of HKD 0.07 Per Share

PwC and Shun (01358) Released Mid-term Results: Profit Attributable to Owners Approximately RMB 60.6 Million, Decreased by 92.0% Year-on-Year

Conteltron (01912) Releases Mid-Term Results, Shareholder Profit Attributable Decreased by 16.33% Year-on-Year to USD 1.404 Million

Regal Group (01622) Releases Mid-term Results, Revenue of 9.969 Billion Yuan, Up 9.2% Year-on-Year

Jinxin Fertility (01951) Releases Mid-Term Results, Net Profit Attributable to Shareholders at 190 Million Yuan, a Year-on-Year Increase of 22.17%

Kuangshi Holdings (01925) Releases Half-Year Performance, Shareholder Profit Attributable Increases to 20.407 Million Yuan, Up 33.34% Year-on-Year

Zall Smart Commerce (02098) Releases H1 Performance, Revenue of 49.931 Billion Yuan; to Increase Investment in Digital Technology R&D

China Ruyi (00136) Announces Interim Results: Shareholders' Profit of 147 Million Yuan, Turning Loss into Profit Year-on-Year

Xingda International (01899) Releases Mid-term Results: Shareholders' Profit Attributable Decreased by 23% to 165 Million Yuan

China Nuclear International (02302) Announces Interim Results: Shareholders' Profit of HK$18.079 Million, Turning Loss into Profit Year-on-Year

Dongzheng Financial (02718) Releases Mid-term Results, Net Profit Approximately RMB 305 Million, Turning Loss into Profit Year-on-Year

China Heavy Duty Truck (03808) Releases Mid-term Results: Profit Attributable to Owners Approximately RMB 1.283 Billion, Decreased by 64.6% Year-on-Year

GenScript Biotech (01548) Achieves Revenue of $305 Million in the First Half, Up 32.7% Year-on-Year, with Continued Increase in R&D Investment

China Gas (00384) Releases CIC Investment's Financial Data for the First Half of the Year, Achieving a Net Profit of 1.307 Billion Yuan

Alphamab Oncology-B (09966) Releases Mid-term Results, Achieves Revenue of 53.569 Million Yuan, Steady Progress in Candidate Drug Development

HeartCare-B (06609) Releases Mid-Term Results: Revenue Surges 154.6% Year-on-Year to RMB 76.713 Million; Six New Products Receive NMPA Approval

Chuangmei Pharmaceutical (02289) Announces Interim Results, Net Profit Attributable to Shareholders at RMB 20.64 Million, Down 20.5% Year-on-Year

Datang Environment (01272) Releases Mid-Term Results: Profit Attributable to Owners of the Parent Approximately RMB 197 Million, Up 127.41% Year-on-Year

Jiayuan International Holdings (02768) Announces Interim Results: Profit Attributable to Shareholders at RMB 326 Million, Decreased by 83.52% Year-on-Year

Greenland Hong Kong (00337) Releases Mid-term Results, Shareholder Profit Attributable to 106 Million Yuan, Contract Sales Approximately 8.183 Billion Yuan

Overseas E-commerce Revenue Surges Significantly: Lexiang Group (06988) Reports Mid-term Revenue of HK$1.367 Billion, a Year-on-Year Increase of 118.91%

Zai Lab-B (09688) Releases Mid-term Results, Achieving Total Revenue of $94.9 Million, a Year-on-Year Increase of 66.38%

Ying Heng Technology (01760) Releases Mid-Term Results: Profit Attributable to Owners of the Parent Approximately RMB 153 Million, Up 140% Year-on-Year

Ocean Group (03377): Ocean Holding Group (China) reported a net profit after tax of 671.5 million yuan in the first half of the year, a year-on-year decrease of 62.5%.

Negative Announcement

Yunnan Water Affairs (06839) Releases Mid-term Results, Shareholder Loss Attributable Approximately RMB 494 Million, Up 58.52% Year-on-Year

Nayuki's Tea (02150): Revenue in the first half of the year was 2.045 billion yuan, a year-on-year decrease of 3.8%; the loss attributable to shareholders was 254 million yuan, a year-on-year narrowing of 94.1%.

Central China Real Estate (00832) Announces Interim Results: Shareholders' Loss of 5.605 Billion Yuan, Turning from Profit to Loss Year-on-Year

China South City (02777) Releases Mid-term Results, Shareholders' Loss Attributable Approximately RMB 6.92 Billion, Turning from Profit to Loss Year-on-Year

Bosideng (03998) Controlling Shareholder Yingxin International Investment Plans to Sell Approximately 2.12% of Company Shares

High Gate Group (08412) Releases Annual Results, Shareholder Loss of HKD 8.871 Million, Narrowing 75.9% Year-on-Year

Lotus Healthcare (00928) Releases Annual Results: Owner's Loss of HKD 34.458 Million, Expanding Approximately 6.52 Times Year-on-Year

Baonew Land (00299) Releases Mid-term Results, Shareholder Loss of HK$2.09 Billion, Up 139.07% Year-on-Year

Huiying Holdings (00821) Announces Interim Results: Shareholders' Loss of HK$61.774 Million, Turning from Profit to Loss Year-on-Year

Jinshan Energy (00663) Announces Interim Results: Shareholders' Loss of HK$9.36 Million, Turning from Profit to Loss Year-on-Year

Qishida (06918) Releases Mid-Term Results, Shareholder Loss of 43.542 Million Yuan, Turning from Profit to Loss Year-on-Year

New Sky Real Estate Group (00760) Releases Mid-Term Results, Shareholder Loss of 87.683 Million Yuan, Turning from Profit to Loss Year-on-Year

Camdak Solar (00712) Announces Interim Results: Shareholder Loss of 12.2 Million Yuan, Down 37.3% Year-on-Year

Overseas Chinese Town (Asia) (03366) Announces Mid-term Results: Shareholders' Loss of 61.546 Million Yuan, Turning from Profit to Loss Year-on-Year

Aoyuan Health (03662): Wei Zheng Resigns as Executive Director and President of the Group

Goldstone Investment Group (00901) Announces Interim Results: Shareholders' Loss of HKD 8.82 Million, Down 46% Year-on-Year

New Century Healthcare (01518) Releases Mid-Term Results, Shareholder Loss of 234 Million Yuan, Up 329.05% Year-on-Year

Melco International Development (00200) Announces Interim Results: Owner's Loss Attributable to Approximately HKD 23.75 Billion, Up by Approximately 44.12% Year-on-Year

Hong Kong CTS (00308) Announces Interim Results: Shareholders' Loss Attributable is HKD 2.85 Billion, Turning from Profit to Loss Year-on-Year

Guorui Health (02329) Releases Mid-Term Results, Shareholder Loss of 682 Million Yuan, Turning from Profit to Loss Year-on-Year

Huading Holdings (03398) Announces Interim Results, Loss of HK$68.435 Million, Down 26% Year-on-Year

Long Success Financial (01225) Releases Mid-Term Results, Shareholder Loss Attributable to 101 Million HKD, Increased by 1891.91% Year-on-Year

Fullwealth Global Group (01620) Releases Mid-Term Results, Shareholder Loss Narrows by 59.42% to HKD 13.426 Million

Qiaoxiong International (00381) Releases Mid-Term Results, Shareholder Loss Attributable Decreased by 49.1% Year-on-Year to HKD 23.468 Million

CAIXUN Media (00205) Releases Mid-Term Results, Shareholder Loss of HK$32.258 Million, Up 52.6% Year-on-Year

Royal Furniture (01198) Releases Mid-Term Results: Loss Attributable to Owners of the Parent Company HKD 73.781 Million, Narrowing by 11.41% Year-on-Year

Huajin International Holdings (02738) Announces Interim Results: Shareholders' Loss of 58.938 Million Yuan, Turning from Profit to Loss Year-on-Year

China Auto Interior (00048) Announces Mid-term Results: Shareholders' Loss Attributable to 38.281 Million Yuan, Expanded by Approximately 3.6 Times Year-on-Year

Golden Wheel Tiandi Holdings (01232) Announces Interim Results: Shareholder Loss of 413 Million Yuan, Up 440.86% Year-on-Year

Milan Station (01150) Releases Mid-Term Results: Owner's Loss Attributable HKD 24.201 Million, Turning from Profit to Loss Year-on-Year

Dafa Real Estate (06111) Releases Mid-Term Results, Shareholder Loss of 1.26 Billion Yuan, Turning from Profit to Loss Year-on-Year

China Urban Infrastructure (02349) Releases Mid-Term Results: Shareholders' Loss Attributable Decreased by 20.02% Year-on-Year to HKD 58.455 Million

Baixin Financial (01282) Releases Mid-Term Results, Shareholders' Loss of HKD 234 Million, Turning from Profit to Loss Year-on-Year

Hailan Holdings (02278) Announces Interim Results: Owner's Loss of 30.841 Million Yuan, Turning from Profit to Loss Year-on-Year

Asia Television Holdings (00707) Releases Mid-Term Results, Shareholder Loss of 86.756 Million Yuan, Up 418.84% Year-on-Year

Xiwang Special Steel (01266) Releases Mid-Term Results: Net Loss of 294 Million Yuan, Turning from Profit to Loss Year-on-Year

China Asia International Medical Group (01143) Releases Mid-Term Results: Shareholder Loss of HK$13.539 Million, Narrowing 57.75% Year-on-Year

Greater Bay Area Fusion Power (01189) Releases Mid-Term Results, Shareholder Loss Attributable Decreased by 9.56% Year-on-Year to HKD 25.136 Million

VX Holdings (01087) Releases Mid-Term Results: Loss Attributable to Owners of the Parent Company at 15.23 Million Yuan, Expanding Approximately 59.33% Year-on-Year

Other Announcements

Junqiu Holdings (01481) Terminates Acquisition of 51% Equity in Wuhan Xiushenghuo Convenience Store Co., Ltd.

Kintor Pharma-B (09939) Plans to Place Shares at a Discount of Approximately 13.6% and Chairman Sells 8,532,500 Shares; Resumes Trading on September 1

China Digital (08255) Receives Privatization Proposal from Chairman and CEO Jiangtao Sun at a Premium of Approximately 28.2%; Resumes Trading on September 1

Link REIT (00823): Tender for Land in Kwun Tong, Kowloon, Hong Kong Accepted at HKD 766 Million

Junjie Group Holdings (08188) Subsidiary Junjie Engineering Awarded Two Infrastructure Construction Contracts in Tung Chung East, Total Contract Value Approximately HKD 711 Million

Fujikon Industries (00927) Subsidiary Enters into Lease Agreement for Dongguan and Hong Kong Properties

Shimao Group (00813) Subsidiary Plans to Sell Certain Equity Interests in Four Project Companies for a Net Consideration of Approximately RMB 3.3165 Billion

China Tangshang (00674) Considering Acquisition of Equity in a Real Estate Development Company, Resuming Trading on September 1

Baiyun Mountain (00874): Subsidiary Qixing Pharmaceutical Changes to "Drug Production License"

Goldin Holdings (03918) Proposes to Cancel Repurchased Principal Amount of US$1.5 Million 2024 Senior Notes

Vanke Enterprise (02202):万物云 has submitted the post-hearing materials to the Stock Exchange of Hong Kong

Shengjing Bank (02066) Plans to Launch a Total of 15 Billion Yuan in Convertible Agreement Deposit Business to Supplement Other Tier-1 Capital

Great Enterprise Holdings (01570) Subsidiary Sells 100% Equity of Weiye Holdings (Shenzhen) Group to Hainan Junhong Investment

Mingfa Group (00846): Six Chinese Subsidiaries Are Preparing Documents to Apply for Director Change

Zhongguancun Technology Leasing (01601) Enters into Factoring Agreement with Factoring Bank

Flat Glass (06865) Proposes to Downwardly Revise the Conversion Price of "Flat Convertible Bonds"

Honghui Group (00183) Subsidiary Enters into Property Lease Agreement with Zhuozhi

Analysis of Hong Kong Stock Market Trends

CITIC International: Heng Seng Index below 20,000 points has attractive valuation and long-term investment value

The August volatility of the Hang Seng Index was only 1,094 points or 5.4%, which is one of the narrower monthly volatilities in history. From a mean reversion perspective, this actually suggests that volatility will gradually expand in the coming months. On the positive side, the Hang Seng Index has shown long lower shadow lines in its monthly K-line for several consecutive months, indicating attractive valuation and long-term investment value below the 20,000-point level.

The earnings per share forecast for the technology index continues to be revised upwards. The valuation bottom and sentiment bottom of the technology index appeared in the first half of the year. Once an upward trend in earnings forms, the recovery momentum of the technology index will be higher than that of the overall market. Recently, the stock price performance of leading Internet companies has shown more resilience compared to the US Nasdaq Index, presenting a favorable phenomenon where they should have fallen but did not. Moreover, support has been formed multiple times at the lows, indicating inflows of capital into related stocks. The audit supervision cooperation agreement signed between China and the US is also conducive to improving the weak investment sentiment.

Morgan Stanley: 7 Reasons to Be Bullish on Chinese Tech Stocks Now

Morgan Stanley analysts Shawn Kim, Duan Liu, Laura Wang, and Gilbert Wong said in a report released this Monday that after the net short positions since July, hedge fund managers are currently looking for catalysts to go long on Chinese technology stocks again. They believe that the downside risk for mainland technology stocks listed in Hong Kong is currently limited, and shifting to a neutral beta would be a prudent move. They agree that going long on high-quality growth stocks and shorting poorly profitable growth stocks would be a more reasonable approach but remain cautious about the rising risk of short squeezes.

Shawn Kim and others stated that the market has been overly panicked about A-share and Hong Kong-listed technology stocks for a long time, and this sector may stabilize in the near future for the following 7 reasons:

1. Exports unexpectedly outperformed expectations, with an overall year-on-year increase of 18% (higher than the consensus forecast of 14%), while credit growth rebounded;

2. Easing monetary policy, the People's Bank of China "cuts interest rates" by 10 basis points, a move that surprises the market amid global monetary tightening;

3. Inflation continues to lag behind — China's CPI in July rose only 0.2% year-on-year to 2.7%, with the inflation gap between China and the US reaching an unprecedented -5.8 percentage points, driving relative growth/margin.

4. The valuation of technology stocks is close to the bottom level of 2018;

5. The breadth of earnings revisions bottomed out in the second quarter, while other regions in Asia continued to decline. The breadth of earnings revisions, produced by Morgan Stanley, shows the extent to which analysts have raised their expected profit levels for companies; a negative breadth of earnings revisions indicates the extent to which analysts have lowered their expected profit levels for companies.

6. The structural drivers of China's tech stocks remain unchanged;

7. Chinese technology stocks are an excellent starting point for achieving diversified investment, helping to address the potential hard landing in the global technology sector.

HK Stock Major Rating

CCB International: Gives Ping An Good Doctor (01833) "Outperform" Rating, Target Price HK$31.7

CMB International: Reiterates "Buy" Rating for Ping An Good Doctor (01833) with Target Price of HK$28.4

UOB Kay Hian: Reiterates 'Buy' Rating on Ping An Good Doctor (01833) with Target Price of HK$27

CMB International (Hong Kong): Maintains "Outperform" Rating for Shijiazhuang No.4 Pharmaceutical Group (02005) with Target Price Lowered to HK$4.9

Soochow Securities: Reiterates "Outperform" Rating for Yihai International (01579) Amid Rising Cost Pressures on Profit Margins

Review of Hong Kong Stock Market Performance Yesterday

Yesterday, the Hong Kong stock market opened sharply lower and then rebounded with fluctuations. In the afternoon, all three major indexes turned positive at one point, with the Hang Seng Tech Index surging over 3% before retreating.

On the market, most of the technology and internet stocks performed strongly. SenseTime rose nearly 7%, Meituan increased by almost 3%, Haier Smart Home climbed nearly 3%, SMIC surged over 2%, Kuaishou gained more than 1%, and Bilibili rose nearly 1%. In contrast, Alibaba fell close to 1%, while Baidu Group dropped over 3%.

In terms of sectors, catering and sporting goods stocks led the gains, biotech stocks were active, oil stocks generally fell, most auto stocks weakened, and coal and shipping stocks saw significant declines.

In terms of focus stocks, BYD Company Limited fell nearly 8%. According to the documents filed with the Hong Kong Stock Exchange, Berkshire Hathaway, under Buffett, sold 1.33 million BYD H-shares on August 24 at an average price of HK$277.1016 per share, involving nearly HK$370 million. The holding percentage of BYD has dropped to 19.92%.

Xiabuxiabu rose over 9%. In its latest mid-term earnings review report, Goldman Sachs noted that the company's management guided the target of opening 50/65 new stores for the Xiabuxiabu brand/Coucou in the 2022 fiscal year. Additionally, a new barbecue brand will be launched.

Lemon Film & TV Soars Nearly 25% Following Strong Midterm Results. Last night, Lemon Film & TV announced its interim performance. In the first half of 2022, the company achieved an adjusted net profit of 105 million yuan, with revenue from copyright drama broadcast rights increasing by 7.1% year-on-year to 463 million yuan.

Yesterday's Southbound Fund Dynamics

Southbound funds net inflow was HKD 3.92 billion yesterday. Regarding Shanghai-Hong Kong Stock Connect, Meituan-W was net bought at HKD 3.68 billion, and Tencent Holdings was net bought at HKD 1.49 billion. Regarding Shenzhen-Hong Kong Stock Connect, BYD Company was net bought at HKD 2.40 billion, and Meituan-W was net bought at HKD 2.14 billion.

Notes:

"South" refers to geographical location, with Hong Kong being south of Shenzhen and Shanghai. Southbound funds refer to the capital used by mainland Chinese investors to buy and sell stocks in the Hong Kong market through Stock Connect.

This article is selected and edited from "Tencent Self-Selected Stocks"; Editor of Zhitong Finance: Liu Jiayin.