Alibaba Group Receives HKEX Confirmation for Dual Primary Listing Status

Overnight Foreign Market Review

U.S. Stocks Close Mixed on Monday. Tech Shares Were Pressured by Concerns Over Weak Demand in the Semiconductor Industry After Nvidia Issued a Warning. At Close, the Dow Jones Industrial Average Rose 0.09%, the Nasdaq Composite Fell 0.10%, and the S&P 500 Dropped 0.12%.

Most popular Chinese stocks traded lower, with Alibaba down 1.86%, Li Auto down 1.28%. "Epic meme stock" AMTD Digital extended its sharp decline, closing nearly 44% lower; "New meme stock" Hong Kong-based broker Zhifug Capital closed over 20% higher; Zhongyang Financial surged over 102% on heavy volume.

Monday's New York gold futures prices closed up 0.8%, regaining the $1,800 mark; Monday's U.S. oil prices closed up 2%, with Brent crude rising 1.9%.

HSI Futures Night Session Closed at 19,958 Points, Down 0.24%.

Nikkei 225 Index Opens Down 12.40 Points, or 0.04%, at 28,236.84

The detailed market data is as follows:

Pre-Market Important News Summary for Hong Kong Stocks

1. Alibaba: Dual Primary Listing Application Confirmed by Hong Kong Stock Exchange, Expected to Take Effect by End of This Year

Alibaba Group announced on August 8 that it has applied to the Hong Kong Stock Exchange for dual primary listing in Hong Kong and New York, and has received confirmation from the Hong Kong Stock Exchange.

The announcement showed that, on August 8, the Hong Kong Stock Exchange confirmed Alibaba's application for a primary listing in Hong Kong according to the Guidance Letter on Changes to Listing Status, with an expected effective date before the end of 2022. Alibaba stated that further announcements regarding the anticipated date would be made in due course.

On July 26, Alibaba Group announced that the board of directors had authorized the group's management to submit an application to the Hong Kong Stock Exchange to add Hong Kong as a primary listing location.

After completing the review process at the Hong Kong Stock Exchange, Alibaba will become a company with dual primary listings on both the Main Board of the Hong Kong Stock Exchange and the New York Stock Exchange. At that time, the stock label "S," which represents a "secondary listing" in Hong Kong, will be removed from the abbreviated name of Alibaba's Hong Kong shares.

2. India Considers Restricting Chinese Companies from Selling Phones Under 1,000 Yuan

According to the Observer Network, in order to support local enterprises, India is attempting to restrict Chinese smartphone manufacturers from selling phones priced below 12,000 rupees (approximately 1,000 yuan) in India.

The report claims that, if true, it could deal a blow to the operations of some Chinese brands in India. According to informed sources, this move aims to squeeze Chinese mobile phone giants out of India's low-end mobile phone market. They said that the news came as concerns are growing domestically in India over Chinese brands like realme and Transsion squeezing the survival space of local Indian manufacturers.

3. Is Haier Planning to Launch Its Own Brand of Automobiles? Home Appliance Companies Are Keen on Cross-Border Car Manufacturing

According to Yicai, informed sources stated that Haier's car manufacturing is currently in the planning stage and will adopt an OEM model. As for the specific launch time and whether it can be implemented, no definitive information has been obtained. Besides Haier, Midea, Gree, and others have also made arrangements in the automotive field.

4. Great Wall Motor: July sales 101,920 units, up 11.32% year-on-year

Great Wall Motor: July sales volume reached 101,920 units, a year-on-year increase of 11.32%; including 10,944 units of new energy vehicles sold, with cumulative sales from January to July reaching 74,584 units; overseas sales in July amounted to 14,710 units, with cumulative sales from January to July totaling 77,533 units.

5. Geely Automobile: July car sales 122,600 units, a year-on-year increase of 24%

Geely Auto's July vehicle sales reached 122,600 units, a year-on-year increase of 24%. Among them, pure electric vehicle sales were 22,200 units, compared to 4,933 units in the same period last year, representing a year-on-year increase of 349%. Geely Auto's cumulative vehicle sales from January to July amounted to 736,500 units, a year-on-year increase of 1%.

In addition, the group's Lynk & Co brand cars achieved the delivery of 205 vehicles to subscription customers in the European market through an innovative subscription model, while a total of 6,458 vehicles were delivered cumulatively from January to July 2022 using this innovative subscription model.

Today's Trading Focus

New Share Activity:

Shuangcai Holdings (02321) is in the subscription period; Neone Film & TV (09857) will be listed tomorrow.

Economic Calendar：

1. 16:00 China's July M2 (Possible Release)

2, 16:00 China's July social financing scale (possible release)

3, 16:00 New RMB Loans in China for July (Possible Release)

4、TBD: New Round of Price Adjustment Window for Refined Oil Products in China Opens

Earnings Announcement:

Uni-President China (00220), Roman Group (08072), Shengang Holdings (08631), Hongqiao Group (08137), Youzan (08083), etc.

Company Announcement

Positive Announcement

China Unicom (00762) Releases Mid-term Results, Shareholders' Profit Attributable Increased by 19.5% to 11 Billion Yuan, Interim Dividend of 0.165 Yuan Per Share

Huide Acquisition-Z (7841) Listed on the Main Board of the Stock Exchange via a Special Purpose Acquisition Company (SPAC)

Shengye (06069) Wins Five Intelligent Supply Chain Management Solutions Procurement Projects from Sinopharm Lerentang for Approximately RMB 39 Million

HUTCHMED (00013): ORR of TAGRISSO® and SAVOLITINIB Combination Therapy in SAVANNAH Phase II Study for Lung Cancer Patients with High MET Overexpression and/or Amplification Levels Reaches 49%

HeartFlow Medical-B (02160): VitaFlow LibertyTM Transcatheter Aortic Valve Implantation System Successfully Registered in Colombia

Kaiser Holdings (08203) Announces Interim Results: Owner's Profit of HKD 13.76 Million, Turning Loss into Profit Year-on-Year

EVOC Intelligent (02308) to Be Acquired by EVOC Smart Technology at a Premium of Approximately 15.13% in a Merger; Resuming Trading on August 9

Junjie Group Holdings (08188) Announces Interim Results: Shareholders' Profit Attributable Amounts to HKD 13.436 Million, a Year-on-Year Increase of 115.6%

Chalco International (02068) Releases Mid-term Results, Net Profit Attributable to Shareholders Rises to 66.3278 Million Yuan, Increasing by 1870.61% Year-on-Year

Jiali Trading Treasure (08017) Releases Q1 Results, Net Profit Approximately HKD 9.84 Million, Up 132.1% Year-on-Year

China New Telecom (08167) Announces Interim Results: Profit Attributable to Shareholders of HK$39.979 Million, Turning Loss into Profit Year-on-Year

Jia Yao Holdings (01626) Announces Profit Alert, Expects Net Profit After Tax of Approximately RMB 200,000 to RMB 3 Million for the First Half of the Year, Turning Losses into Gains Year-on-Year

Chuang Hui Jewellery (08537) Releases Earnings, Q1 Profit of HKD 1.5 Million Turns Loss into Gain Year-over-Year

Evergreen Union Holdings (08617) Releases Mid-Term Results, Profit of HKD 21.575 Million, a Year-on-Year Increase of 109.43%

Maple Leaf Education (01317) Receives Final Accreditation Report from Cognia, Successfully Passes Comprehensive Evaluation with High Scores

Feini Holdings (08480) Announces Interim Results: Profit Attributable to Shareholders at 5.074 Million Ringgit, Decreased by 68.47% Year-on-Year

Hao De Holdings (08149) Releases First Quarter Results, Profit Attributable to Shareholders at HKD 2.981 Million, a Year-on-Year Increase of 69.76%

GOSS International (08042) Issues Profit Alert, Expects Interim Net Profit to Increase by Approximately 292.9%

Baiyue Group (08545) Subsidiary Proposes to Acquire 100% Equity of Jiaying Development for HKD 7 Million

AsiaInfo Technologies (01675) Releases Mid-Term Results, Shareholder Profit of 192 Million Yuan – Overall Operations Maintain Strong Growth Momentum

Jin Lun Holdings Limited (01783) Completes Further Acquisition of 60% Equity Interest in Jin Yang International (Hong Kong) Limited

Tianjie Environment (01527) Announces Profit Growth, Expects 494.66% Increase in Mid-term Net Profit

Beijing Jiaotong University Unihub (08095) Released Mid-term Results, Shareholders' Profit Attributable Was 71.024 Million Yuan, A Decrease of Approximately 0.55% Year-on-year

Fuyuan International Group (00542) Announces Profit Alert, Expects Mid-term Shareholder Profit of No Less Than HKD 100 Million

Lai Chien Te Group (08455) Announces First Quarter Results: Shareholders' Profit of HKD 1.547 Million, Up 226.37% Year-on-Year

Chinese Estates (00127) Announces Profit Alert, Expects Shareholders' Profit Attributable for the First Half of the Year to be HKD 780 Million to HKD 960 Million, Turning Loss into Profit Year-on-Year

Ming Hui International (03828) Announces Profit Alert, Expects Interim Shareholder Profit of Approximately HKD 28 Million, Turning Loss into Profit Year-on-Year

Negative Announcement

Jiayuan International Holdings (02768) Issues Profit Warning, Anticipating a Significant Decline in Mid-term Net Profit of Approximately 55%-75%

Coolpad Group (02369) Issues Profit Warning, Expects Mid-Term Shareholder Loss of Approximately HKD 305 Million

Qijia Holdings (08395) Issues Profit Warning, Expects Unaudited Consolidated Loss of Approximately HKD 1.1 Million for the First Quarter, Turning from Profit to Loss Year-over-Year

China Dili (01387) Issues Profit Warning, Expects Mid-Term Shareholder Loss of Approximately RMB 1.19 Billion

Yun Xing Tai Group (08362) Releases Mid-term Results, Shareholder Loss of HKD 5.201 Million, Narrowing by 23.72% Year-on-Year

Shangzhiwei (08096) Releases First Quarter Results, Shareholders' Loss Attributable to 2.957 Million HKD, Up 163.31% Year-on-Year

Qingdao Bank (03866): Lü Yan resigns as Executive Director, Board Secretary and other positions

HMVOD Video (08103): Park Chung Min Resigns as Executive Director

Xiushen Hall (08200) Subsidiary Grants HKD 12 Million Loan

New Reach Holdings (08471) Releases Mid-term Results, Shareholder Loss of 3.42 Million Yuan, Up 244.1% Year-on-Year

Honghao International Holdings (08375) Releases Mid-term Results, Shareholder Loss of HKD 6.306 Million, Turning from Profit to Loss Year-on-Year

Ruiyuan Intelligent Control (08249) Releases Mid-Term Results, Records Loss of 2.238 Million Yuan, Narrowing 5.81% Year-on-Year

Parnell International Energy (08132) Releases First Quarter Results: Shareholders' Loss of HKD 6.042 Million, Turning from Profit to Loss Year-on-Year

Minsheng Capital (01141) Issues Profit Warning, Expects Consolidated Net Loss of HKD 2.6 Billion to HKD 2.9 Billion for the First Half, Turning from Profit to Loss Year-on-Year

China Fashion Holdings (01146) Issues Profit Warning, Expects Increase in Net Loss of at Least 50% for the First Half

Global Universal Group (08063) Releases Mid-Term Results, Shareholder Loss of HKD 32.389 Million, Turning from Profit to Loss Year-on-Year

Yuanxiang Group (08401) Releases Q1 Results, Loss of HKD 5.136 Million, Widening 183.91% Year-on-Year

Winlink (08482) Issues Profit Warning, Expects Pre-Tax Net Loss of No More Than HKD 4 Million in Q1

Yida Li Holdings (00720) Issues Profit Warning, Expects Interim Comprehensive Loss Attributable to Shareholders of Approximately HKD 1.05 Billion to HKD 1.15 Billion

China Water Affairs Group (01129) Issues Profit Warning, Expects Shareholders' Loss for the First Half of the Year Not to Exceed Approximately HKD 28 Million

Asia Bo Technology Holdings (08279) Releases Mid-term Results, Loss of Approximately HKD 84.9 Million During the Period, Increased by Approximately 94.6% Year-on-Year

China Digital Video (08280) Releases Interim Results, Loss Attributable to Equity Holders Narrows by 5.28% Year-on-Year to RMB 20.79 Million

Shangri-La (Asia) (00069): Zhou Chengwen Resigns as Group Chief Financial Officer

Zhi Ao Holdings (08282) Releases Mid-Term Results, Net Loss of HKD 1.765 Million, Narrowing by 70.1% Year-on-Year

New Power Engineering Group (08616) Issues Profit Warning, Expects Q1 Net Profit to Decrease to Approximately HKD 600,000

Zhihua Group (01842) Issues Profit Warning, Expects Net Loss of Approximately HKD 5 Million to 6 Million in the First Half, Turning from Profit to Loss Year-on-Year

Jie Crown Holdings (08606) Issues Profit Warning, Expects Mid-term Loss of No Less Than HKD 130 Million

Xuri Enterprise (00393) Issues Profit Warning, Expects Shareholders' Profit for the First Half to Decrease by Approximately 50% to 60% Year-on-Year

Sincere Intelligence (01967) Issues Profit Warning, Expects Net Loss of No More Than 4 Million Yuan in the First Half, Turning from Profit to Loss Year-on-Year

Easy Repay Financial Investment (08079) Issues Profit Warning, Expects Shareholder Loss of Approximately HKD 4 Million in the First Quarter

EME Holding (02028) Issues Profit Warning, Expects Mid-term Loss of Approximately RMB 9 Million to RMB 12 Million

Tsingtao Brewery (00168): Executive Zhang Ruixiang Plans to Reduce Holdings by Up to 22,500 A-Shares

Other Announcements

Fuhui International Group Holdings (01034): Executive Directors Liu Xinyi and Wang Junwen Inspect National Cultural Tourism Projects and Explore Potential Collaboration with China Dinosaur Park

Inke (03700) changes its stock abbreviation to "Inke Universe"

Yankuang Energy (01171): No definitive decision has been reached on whether to proceed with the potential transaction

Yancoal Australia (03668): No commitment has been made on any material terms and conditions of any potential transaction

Ganfeng Lithium (01772): Shanghai Ganfeng Completes Tender Offer for Bacanora

Zhenrong Real Estate (06158) July Contract Sales Amount Approximately RMB 2.055 Billion

CMB Securities (06099): Termination of Acquisition of Approximately 18.4% Equity in Changsha Renhui

Alphamab Oncology-B(09966): First Patient Dosed in Phase II Clinical Trial of KN046 Combined with Axitinib as First-Line Treatment for Advanced NSCLC

SDIC Group Holdings (01386) Authorized to Launch a 5-Year Market for Derivatives of the Artwork "Peace is a Blessing"

21st Century Education (01598): Shijiazhuang Zerui and Hebei Chaoxing Enter into a General Contracting Agreement for Dormitory Building Construction, Consideration of RMB 94.8 Million

CHI HO DEV(08423) Subsidiary Proposes to Acquire 25% Equity Interest in Acasa Property

Antengene-B (06996) Subsidiary Enters into Construction Service Agreement with Zhejiang Zhongnan Construction Group

GCL Technology (03800) Invests in Hefei GCL Integrated New Energy Technology

Chengdu Putian Cable Co., Ltd. (01202): Chinese Stock Abbreviation Changed to "Siwei Technology" from August 16

CRRC Signal (03969) Plans to Use Up to 2.7 Billion Yuan of Temporarily Idle Raised Funds for Cash Management

Austar Life Sciences (06118) Completes Acquisition of Minority Stake in Shanghai Nuozhe

China Jinmao (00817) Accumulated Contract Sales of Approximately 80.393 Billion Yuan in the First 7 Months

Xiamen Port (03378): Xiamen Port Development Completes Capital Increase in Shihushan Terminal Company

Meilan Airport (00357) Parent Company's Subscription Authorization for Board Authority to be Extended by 12 Months

Analysis of Hong Kong Stock Market Trends

CISI believes that the overall weakness of the market remains unchanged, but the downward momentum has also weakened somewhat. The short-term support for the Hang Seng Index is at 19,500. The strategy for a weak market condition is defensive counterattack: gradually accumulate undervalued quality companies with certain growth potential below the 20,000-point level, and moderately buy low and sell high. Under the background of low liquidity, it's difficult to speculate on large-cap leaders. Recently, attention should still be paid to some small and medium-sized industry leaders, waiting for good entry opportunities.

HKEX Major Rating

Nomura: Upgrades BeiGene (06160) Target Price to HK$172.89, Rating Buy

CICC: Downgrades Weimob Group (02013) Target Price to HK$5.6, Rating Outperform Industry

Credit Suisse: Downgrades Mengniu Dairy (02319) Target Price to HKD 45, Rating Outperform

Morgan Stanley: Gives Lee & Man Paper (02314) a target price of HK$2.7, rating "Reduce"

BOC International: Initiates Coverage on CGN Mining (01164) with "Buy" Rating, Target Price HKD 1.25

Review of Hong Kong Stock Market Performance Yesterday

Yesterday, the Hong Kong stock market was sluggish throughout the day. In terms of sectors, technology and internet stocks generally fell, with Alibaba dropping over 4%; paper and coal stocks led gains, biopharmaceutical stocks were active, and some electric power stocks showed activity.

In terms of focus stocks, Grand Pharmaceutical rose by 2.3%. The company announced last night that it would acquire 100% of the equity of Hubei Bafeng at a cost of no more than RMB 270 million. This is another layout in the amino acid industry following its acquisition of Huachen Bio in 2021.

Lai Fung International surged 50.32%. The company announced yesterday that its Board Chairman, Lau Luen Hung, proposed to privatize the company. The cash cancellation price per share is HKD 5, representing a premium of 62.34% over the last closing price before the trading halt and a premium of 182.92% over the net asset value per share as of the end of 2021.

Century睿科 Fell 5.93%, Initially Rose Over 14%: On August 5, the Company Announced that Its Wholly-Owned Subsidiary, Hangzhou Century睿科, Signed an Annual Cooperation Agreement with Douyin E-commerce, with an Estimated Effective Merchandise Transaction Value (Settlement GMV) of No Less Than 5 Billion Yuan During the Cooperation Period (12 Months).

Minimally Invasive Medical Falls 7.41%, Minimally Invasive Medical Announces that in the First Half of 2022, the Group's Sales Revenue Maintained Steady Growth; It is Expected that the Group Will Incur a Loss Attributable to Equity Shareholders of the Company of Approximately US$193 Million to US$203 Million.

Yesterday's Southbound Capital Dynamics

Southbound funds recorded a net outflow of HK$1.89 billion yesterday. In the Shanghai-Hong Kong Stock Connect, Meituan-W and Geely Automobile were the top net sellouts, with net sales of HK$1.79 billion and HK$1.61 billion respectively. In the Shenzhen-Hong Kong Stock Connect, Geely Automobile and Wuxi Biologics were the top net sellouts, with net sales of HK$1.42 billion and HK$1.32 billion respectively.

Note:

"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 Hong Kong market stocks through Stock Connect.

This article is selected and edited by "Tencent Self-Selected Stocks"; Editor of Zhitong Finance: Wenfang Chen.