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HSI -142pts (-0.5%) 26,518 HSCEI -83pts (-0.9%) 9,466 T/O HK$135.85bn (-11.5% DoD)
Markets opened flat FTSE trading around flat, CAC and DAX trading slightly better. IEA oil report cut its demand expectations; UK GDP stronger than expected but still below pre-pandemic levels.
Eurozone Industrial Production and a large amount of UK data and Earnings still key
Opened Dow futures +37 pts, or 0.03%. S&P and Nasdaq futures flat.
Ahead PPI, Initial Claims, 4 week Average Claims, Continuing Claims, Core PPI, EIA Natural Gas Report, WASDE Report.
CHINA CSI 300 closed -42pt (-0.8%) @ 4,973
On-line insurance sector under pressure and Govt indicates that oversight on Tech could last for years. Loans data weak prompts hopes for more support from Govt/PBoC. Covid remains a concern.
CSI 300 opened lower tried to test yesterday’s closing level several times in the first hour without success and then sold down to 4,960 level before bouncing to 4,980 level at lunch. PM saw the market trend lower in choppy trading.
Laggards were wine, aerospace and defense
Leaders were auto, precious metals, shipping, tire rubber, and steel.
Shanghai Composite -8pts (-0.2%) @ 3,525 T/O US$74,843 -0.9% DoD
Shenzhen Composite -119pts (-0.8%) @ 14,902 T/O US$118,403 +3.2% DoD
ChiNext Composite Index -21pts (-0.6%) @ 3,650
China's National Health Commission reported 81 confirmed COVID-19 cases yesterday (11th), with 61 of them being local cases.
Pre market opened @ 26,624 -36pts vs +91pts ADR’s and saw an intial bounce to 26,710 level but then reveresed to 26,550 before trending better until late morning; oscillated around 26,600/650. PM the market trended lower with concerns over covid impacting the recovery and the market sold down to 26,400 before finding support. Then worked +60pts in the last 30 mins and saw a 50pt up tick in the auction
Earnings results in focus, Ecommerce mixed; any exposure to insurance -VE. General sentiment -VE on surging covid cases and the potential impact on the recovery as a worker at a key port tests positive.
Laggards were Financials, Staples and Healthcare. Leaders Materials, Energy and Consumer Discretionary
IPO LI AUTO-W (02015.HK) opened flat at $118 on its debut day and closed at $117, down 0.8% against its listing price of $118, on a
volume of 5.75 million shares. The turnover amounted to $673 million. Excluding the handling fees, a book loss of $100 was reported per board lot of 100 shares.EARNINGS due Friday includes: CP Pokphand (43), Shenwan Hongyuan (218), Goldlion (533), Bossini (592), Playmates Hlds (635), Playmates Toys (869), Wynn Macau (1128), CRRC HighTech (1786), SouthGobi (1878), Sands China (1928), Weiqiao Textile (2698), China Merchants Bank (3968) China Health Group (8225).
HONG KONG DATA
HK reported no new local untraceable covid cases and 5 imported cases.
SHORT SELLING Thursday 19% vs 21% Wednesday
Top shorts Country Garden (2007) 52%, Wharf REIC (1997) 47%, CCB (939) 44%, Baba (9988) 41%, Hang Lung Ppty (101) 38%, Sands China (1928) 37%, Haidilao (6862) 36%, Bud Apac (1876) 35%, CSPCPharma (1093) 34%, Bank of China (3988) 33%, Sunny Optical (2382) 31%, HK & China Gas (3) 31%, HKEX (388) 31%, Ali Health (241) 30%, AAC Tech (2018) 30%, Power Assets (6) 29%, CLP (2) 29%, Hengan (1044) 28%, NWd (17) 27%, Mengniu Dairy (2319) 26%
AFTER MARKET NEWS
BIDU-SW Interim NP Soars 5.9x to RMB25.07B
POU SHENG INT'L (03813.HK) announced interim result ended June 2021. The net profit amounted to RMB636 million, up 5063.7% yearly.
EPS was RMB12.24 fen. No dividend was declared.
CHINA MOBILE (00941.HK) will concentrate on propelling its A-share listing project in 2H, which could be completed within this year, said the company's chairman Yang Jie. Yang added that the potential proceeds raised from the A-share listing will be utilized in technology R&D and ecology construction. The company has seen satisfactory growth in revenue and profit over 1H21 and will strive to achieve favourable growth in full-year dividend per share and continuously create greater value for shareholders, remarked Yang.
The Swire group has been actively disposing non-core assets over the past few years to generate cash resources which will go towards reinforcing its core investments and financing new projects, so as to ensure stable and solid development in the next phase, said Merlin Swire, chairman of SWIRE PACIFIC A (00019.HK) Short selling $4.47M; Ratio 7.520% and SWIREPROPERTIES (01972.HK) Short selling $9.51M; Ratio 19.480% . Swire added that the group now has clear strategic goal with a focus on the development of its core businesses and that he remains optimistic for the group's business in China, believing there to be ample driving force for business growth.
SWIREPROPERTIES (01972.HK) is more flexible in rent negotiation given a vacancy rate of nearly zero of its office projects, said Chief Executive Guy Bradley at the press conference. Equally, the group is working off its strength as a behemoth landlord under the decentralization trend. As for residential property business, SWIREPROPERTIES will launch a rich portfolio of home projects in Star Street, Chai Wan, Wong Chuk Hang, Quarry Bay, etc., he added.
CK ASSET (01113.HK) Short selling $27.61M; Ratio 22.688% said Li Ka Shing Foundation Limited acquired a total of 2.199 million shares in CK Asset at the average price of HK$52.4913, HK$52.3333, HK$51.4239 and HK$51.867 per share on 6 August, 9 August, 10 August and 11 August 2021 respectively. As a result, the deemed interests of Li Ka-shing, Victor T K Li and Li Ka Shing Foundation Limited in CK Asset under the Securities and Futures Ordinance are as follows: Li Ka-shing's stake increased from 45.68% to 45.74%; Victor T K Li's increased from 45.74% to 45.8%; and Li Ka Shing Foundation Limited's increased from 10.96% to 11.02%.
Shanghai Stock Exchange announced that, in accordance with the index rules, Shanghai Stock Exchange and China Securities Index Co., Ltd. decided to oust SMIC (688981.SH) from the Shanghai-Hong Kong Stock Connect Index from next Monday (16th).
MTR CORPORATION (00066.HK) Short selling $25.38M; Ratio 24.500% announced interim net profit of HK$2.673 billion, compared to a net loss of HK$334 million for the same period in 2020. Earnings per share was HK$0.43. An interim dividend of HK$0.25 per share was declared (with scrip dividend alternative).
WH GROUP (00288.HK) unveiled the interim results for the six months ended 30 June 2021. The net profit before biological fair value adjustments dropped 2% YoY to US$539 million. EPS was US3.66 cents. An interim dividend of HK5 cents was declared, same as a year ago. Also announced that Wan Long has resigned as the Chief Executive Officer with effect from 12 August, and will remain as an executive Director, the chairman of the Board, the chairman of the Nomination Committee, the chairman of the Food Safety Committee and the chairman of the Risk Management Committee. Guo Lijun, an executive Director, has been appointed to succeed Wan Long as the Chief Executive Officer.
*COMMODITIES FIRM sector rotation into cyclical names. PETROCHINA (857 HK +2%) and CNOOC (883 HK +1.1%) on a weaker dollar. COAL MINERS +VE as China may fall short of importing enough coal from Indonesia to meet demand for this winter, and its inventories are close to a record lows, CH Coal Transport and Distribution Assoc said. YZ COAL (1171 HK +1.8%) CH COAL (1898 HK +1.5%).
*E-COMMERCE/INTERNET WEAK on amid regulatory fears. Chinese regulators order online insurance firms and agencies to curb improper marketing and pricing, and to improve privacy protections, according to a notice. ALIBABA (9988 HK -1.3%) ZA ONLINE (6060 HK -11.5%) PA GOOD DOC (1833 HK -2%) BIDU (9888 HK -2%).
*TECH & COMPONENTS WEAK But LENOVO (992 HK+1.4%) net profit +119% to US$446m for the three months ended June, beating estimates. BYDE (285 HK -1.1%) to become a component supplier for XIAOMI's (1810 HK -2%) flagship products.
*CHINESE BANKS WEAK after the weak loans data in July.
ICBC (1398 HK -0.5%) CCB (939 HK -0.4%) ABC (1288 HK -0.8%).
*CHINA PROPERTY WEAK on the news that that a construction firm halted CH EVERGRANDE's (3333 HK -9%) project in southern China over a missed payment, and that two property rivals have pulled out of the bidding for Evergrande assets dragged sector lower. KWG (1813 HK -3.6%) SHINAO (813 HK -3.6%).
*PHARMA/BIOTECH WEAK on regulatory worries, after China said will step up enforcement in areas directly affecting people's immediate interests, including food and drugs. WUXI APPTECH (2359 HK -3%) WUXI BIO (2269 HK -2.7%) CANSINO (6185 HK -7.6%) INNOVENT (1801 HK -3.7%) SINO BIOPHARM (1548 HK -2.7%).
*CHINA AUTO FIRM after China's top auto industry watchdog has required car makers to store locally-generated data in the country and strengthen data security. GREATWALL (2333 HK +2.6%) GEELY (175 HK +2.1%) BYD (1211 HK +3.1%) GAC (2238 HK +6.7%).
CATHAY PACIFIC (293 HK -2.5%) 1H net loss narrowed by 23.3% to HK$7.57b and it hopes to reach 30% of the pre-pandemic passenger capacity by 4Q but covid variant increases the doubt.
TECHTRONIC (669 HK+12%) reported net income $524m, +58% YoY. CH MOBILE (941 HK -0.3%) after initial gains after reporting half-year net profit rose 6% to 59.118b, interim dividend +6.5% to HK$1.63/shr.
EB ENVIRONMENT (257 HK +9%) said 1H net income +28% YoY to HK$3.89b.
Market opened higher; Telstra +VE as earnings out and announced share buyback. QBE strong but AGL weak as earnings weak. Also out NAB, AMP and others hitting the tapes. Oil & gold started+VE but Covid in focus as Melbourne may extend restrictions but Sydney may ease.
Having tested 7,610 in the opening moments the market quickly sold down to flat and has trade around there for most of the session (7,595/7,580) uptick at the end to close +4pts (+0.05%) @ 7,588.
Consumer Inflation Expectations Aug +3.3% vs 3.7% Jul (F/cast was +3.6%)
Nikkei opened higher and tested to 28,280 in early trades as investors reacted to earnings and shorts covered. But pre market PPI came in stronger than expected. Materials and Energy strong in the AM session
Sentiment hurt by news at lunchtime that a panel expert said the covid surge was out of control. Market in the PM sold down to close just off the day low; -56pts (-0.2%) @ 28,015.
Topix traded in a similar pattern closed -0.5pt flat @ 1,954
PPI Jul +1.1% MoM vs +0.6% Jun (F/cast was +0.3%)
PPI Jul +5.6% YoY vs 5% Jun (F/cast was +4.9%)
Big earnings day Friday with 359 companies due to announce
KDCA announced 1,987 new covid cases (-236 DoD) +VE
Options Expiry today and MSCI rebalance announced, effective 31 Aug
Foreigners still selling tech. Defensives like Telco’s, and cyclicals Transport and Construction +VE
Kospi opened lower but initially bounced and has traded around flat for most of the session but then sold down around 1pm to 3,200 before a small bounce into the close -12pts (-0.4%) @ 3,208
Kosdaq opened higher and worked higher to test 1,058 around midday but again 1pm saw selling pressure and sold down to almost flat before working slightly better into the close +2pt (+0.2%) @ 1,054
Samsung unveils new phones, watch and ear buds
Taiex opened slightly lower continues to traded in a tight range. Tested yesterdays closing level a couple of times in the first 45 minutes but then eased back to traded sideways around 17,175; to close -7pts flat @ 17,220
T/O was US$11.48bn vs 13.94bn Wednesday; the lightest this week.
CECC reported 6 new covid cases (inc 2 imported cases).
Govt confirmed a French warship was anchored off its west coast.
Northbound RMB 51,833m Sell 25,951m vs 25,882m Buy
Southbound HK$ 16,300m Sell 8,478m vs 7,822m Buy
Northbound RMB 67,808m Sell 33,958m vs 33,850m Buy
Southbound HK$ 18,955m Sell 9,200m vs 9,756m Buy
HKEX (00388.HK) Short selling $1.28B; Ratio 30.643% closed at $499.2, down 3.5%
PING AN (02318.HK) Short selling $433.12M; Ratio 24.728% closed at $68, down 2.6%
AIA (01299.HK) Short selling $197.44M; Ratio 13.652% closed at $91.55, down 2.2%
BABA (09988.HK) Short selling $1.13B; Ratio 41.431% closed at $188.7, down 1.3%
TENCENT (00700.HK) Short selling $746.39M; Ratio 9.452% closed at $482, down 0.4%
MEITUAN (03690.HK) Short selling $681.02M; Ratio 11.124% closed at $236.6, down 0.3%
HSI & HSCEI Constituents on Move:
TECHTRONIC IND (00669.HK) Short selling $141.96M; Ratio 8.374% closed at $161.8, up 11.6%, hitting new high
EVERGRANDE (03333.HK) Short selling $49.49M; Ratio 8.298% closed at $5.81, down 8.2%
JD HEALTH (06618.HK) Short selling $283.24M; Ratio 38.966% closed at $76.8, down 7.4%
EVERG SERVICES (06666.HK) Short selling $33.04M; Ratio 3.473% closed at $6.85, down 6.2%
HANSOH PHARMA (03692.HK) Short selling $22.57M; Ratio 32.092% closed at $25.65, down 4.8%
ALI HEALTH (00241.HK) Short selling $121.14M; Ratio 30.137% closed at $12.18, down 4.4%
CHINA RES BEER (00291.HK) Short selling $147.47M; Ratio 18.158% closed at $61.45, down 3.8%
SHIMAO GROUP (00813.HK) Short selling $41.25M; Ratio 16.539% closed at $16.36, down 3.5%
BYD COMPANY (01211.HK) Short selling $465.49M; Ratio 15.232% closed at $276.8, up 3.1%
HSMI & HSSI Constituents on Move:
CIMC ENRIC (03899.HK) Short selling $16.75M; Ratio 5.163% closed at $10.32, up 18.5%, hitting new high
INNOCARE (09969.HK) Short selling $21.55M; Ratio 10.564% closed at $22, down 11.8%
ZA ONLINE (06060.HK) Short selling $380.56M; Ratio 37.394% closed at $37.8, down 11.5%
CGN NEW ENERGY (01811.HK) Short selling $5.58M; Ratio 2.631% closed at $3.96, up 3.4%, hitting new high
CHINA POWER (02380.HK) Short selling $7.22M; Ratio 6.466% closed at $2.16, up 3.3%, hitting new high
EARNINGS at lunch
HUA HONG SEMI(01347.HK) announced interim result ended June 2021. The revenue reached a record high of US$651 million, an increase of 52% compared to 1H 2020, primarily due to increased wafer shipments and improved average selling price. The net profit amounted to US$77.141 million, up 102.3% YoY. EPS was US$0.059. No dividend was declared.
CHINA MOBILE (00941.HK) unveiled the interim results ended June 2021. Net profit was RMB59.118 billion, up by 6% yearly, topping the upper end of the brokers' forecast as compiled by our reporters at RMB57.251-58.4 billion. EPS was RMB2.89. An interim dividend of HKD1.63 was declared, increasing from the HKD1.53 a year ago.
EBITDA was RMB162 billion, up by 11.2%. Operating revenue was RMB443.647 billion, up by 13.8%. As of the end of June 2021, the number of 5G package customers reached 251 million and the penetration rate hit 26.5%. 5G ARPU amounted to RMB88.9, up 10% from the pre-migration figure. The planned full-year capex would be RMB183.6 billion.
GALAXY ENT (00027.HK) announced the interim result ended 30 June 2021. The company swung into profit of $947 million from loss of $2.856 billion in the same period of 2020. EPS hit 21.8 cents. No dividend was declared. Also for Q2 Adjusted EBITDA was $2 billion, versus a loss of $1.1 billion in the same period of 2020. The group's net revenue amounted to HK$5.6 billion, up 366.7% YoY. The adjusted EBITDA of HK$1.1 billion also improved versus the HK$1.4 billion loss in Q2 2020.
SWIRE PACIFIC A (00019.HK) and SWIRE PACIFIC B (00087.HK) announced interim result ended June 2021.The revenue rose 19.7% year on year to HK$46.738 billion. The loss narrowed from HK$7.737 billion in the corresponding period of previous year to HK$792 million. LPS was HK$0.53 per A-share and HK$0.11 per B-share. Dividends of HK$1 per A-share and HK$0.2 per B-share were declared.
SWIREPROPERTIES (01972.HK) announced the interim results for the six months ended 30 June 2021. The revenue surged 38.4% YoY to $9.068 billion. Net profit amounted to $1.984 billion, up 92.8% YoY. EPS was $0.34. A first interim dividend of $0.31 was declared against a dividend of $0.3 for the corresponding period of the previous year. The company's underlying profit for the period jumped 20.3% YoY to $4.513 billion.
SWIRE PACIFIC A (00019.HK) announced that with effect from 25th August 2021, Merlin Bingham SWIRE will cease to be the chairman and an executive director of Swire Pacific, but will continue as a non-executive director of Swire Pacific. Guy Martin Coutts BRADLEY will become the chairman and an executive director of Swire Pacific.
Also, SWIREPROPERTIES (01972.HK) announced that with effect from 25th August 2021, Merlin Bingham SWIRE will cease to be the chairman and an executive director of Swire Properties, but will continue as a non-executive director of Swire Properties. Guy Martin Coutts BRADLEY will become the chairman of Swire Properties (remaining an executive director of Swire Properties), but will cease to be the chief executive of Swire Properties. Timothy Joseph BLACKBURN will become the chief executive and an executive director of Swire Properties.
MARKET HOURS NEWS.
GALAXY ENT (00027.HK) Chairman Lui Che Woo, at the results conference, assumed the recent epidemic flare-ups in Macau to pose certain, but not acute, impact on the city, painting a peachy picture for the market growth in the long run. In wake of the epidemic, the company did not declare any dividend, Lui explained, who hoped to resume so in the latter half of the year.
In July 2021, China's passenger vehicle production was 1.548m units -0.5% MoM (-10.7% YoY) and sales volume were 1.551m units, -1.1% MoM, (-7% YoY), as revealed by the data of China Association of Automobile Manufacturers (CAAM). China's NEV market was not muted in the off season in July 2021, with both production and sales
volume setting historical highs on a monthly and yearly basis. NEV output reached 284,000 units +14.3% MoM (1.7x YoY) and sales 271,000 units in the month, +5.8% monthly, (1.6x YoY).
BlackRock axed its holdings in BABA-SW (BABA.US) (09988.HK) Short selling $1.13B; Ratio 41.431% 's U.S. shares by 74.03 million shares in 2Q, representing 88.3% of its holdings in the company, according to a report released on Wednesday by the money manager. Over 2Q, the market value of BlackRock's holdings in BABA-SW's shares has reduced drastically from USD19.01 billion to USD2.23 billion.
Following EVERGRANDE (03333.HK)'s announcement of the potential sales of part of the interests in EVERG SERVICES (06666.HK), a CHINA VANKE (02202.HK)-led consortium and CG SERVICES (06098.HK) have been reported as potential buyers. CHINA VANKE and COUNTRY GARDEN (02007.HK) have engaged in discussions with EVERG SERVICES but have both failed to reach an agreement in terms of prices and have dropped out of the acquisition temporarily, reported Cailian Press, citing people familiar with the matter.
LA MARINA", phase two of The Southside jointly developed by KERRY PPT (00683.HK), SINO LAND (00083.HK) and MTR CORPORATION (00066.HK), has obtained the pre-sale consent and is expected to release the first price list and open model flats within this month. KERRY PPT expressed that the companies will refer to luxurious residential projects in the Southern district when determining the selling prices of the project.
NTES-S (09999.HK) announced to launch the largest-scaled autumn recruitment activity in the company's history, preparing to hire over 5,400 fresh graduates of year 2022 for hundreds of positions in open technologies, products, content and marketing, etc.
UnionPay International announced to launch QR code withdrawal service in Hong Kong. The service enables local UnionPay cardholders to withdraw money from some ATM by scanning QR code, without having to present the bank cards. Banks supporting the new service include BOC HONG KONG (02388.HK), Bank of Communications (Hong Kong), China Merchants Bank (Hong Kong branch), BANK OF E ASIA (00023.HK) and virtual bank Livi Bank.
TECHTRONIC IND (00669.HK), with 1H21 GPM rise to 38.6%, has successfully captured market shares, revealed the CEO Joseph Galli at the results conference, who underscored the company will keep active strategic investment in R&D and product management etc.. Elaborating the company's plan to weaponize inventory, the CEO hoped the company could grasp more market shares in the world through inventory expansion. He also pictured the group's growth to continue to outpace the market in 2H21 and beyond 2022, while introducing more products.
Overnight HIBOR last posted at 0.03848%, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.06589%, marking a 1-month low.
EVERGRANDE (03333.HK) has two residential projects in Kunming suspended construction, namely Evergrande Jinbi World and Evergrande Kunhai Lake, CCTV reported.
A report cited a notice which stated the reason behind the construction halt: EVERGRANDE has owed the construction cost to the builder of Evergrande Jinbi World for a long time, whilst the trade acceptance overdue has not been settled as well. The report also said the construction of another project Evergrande Kunhai Lake, which is scheduled to hand over to owners in October, is forced to go full-stop now.
CG SERVICES (06098.HK) may be one of the potential buyers of EVERGRANDE (03333.HK)'s assets, reported Caixin, citing sources. EVERGRANDE had previously announced to enter into discussions in respect of the sales of some of its assets, including part of the interests in the listed subsidiaries of the company, EVERG VEHICLE (00708.HK) and EVERG SERVICES (06666.HK) .
NIO (NIO.US)'s founder and CEO William Li expressed that the company's team dedicated to autonomous driving and related projects will expand to have 800 members by the end of the year, from the current around 500. Also, NIO remarked that its R&D budget will see significant increase from 3Q with the full-year R&D expense projected to be RMB5 billion.
The number of confirmed cases of COVID-19 has exceeded 200 million around the globe by last week and is projected to reach over 300 million by early next year according to the current trajectory of the pandemic development, expressed Tedros Adhanom, Director-General of the World Health Organization (WHO).
TENCENT (00700.HK)s PUBG Mobile and Honor of Kings were the world's two highest-grossing mobile games in July, according to a report by Sensor Tower. Of which, PUBG Mobile garnered as much as US$299 million in player spending, up 26.7% yearly.
PRE MARKET NEWS
U.S. Treasury Secretary Janet Yellen is weighing a potential visit to China in coming few months, reported Bloomberg News, citing people familiar with the matter. If the trip goes ahead, Yellen is likely to meet with China's Vice-premier Liu He and become the highest-ranked official from the Biden administration to visit China.
NIO (NIO.US) announced the results for the second quarter ended 30 June 2021. The revenue surged 127.2% YoY to RMB8.448 billion. The loss for the period amounted to RMB659 million, compared to a loss of RMB1.208 billion for the corresponding period of the previous year. Diluted LPS was RMB0.42. The results surpassed the estimates.
STANCHART (02888.HK) announced the repurchase of 1.256 million shares yesterday (11 August) at a weighted average price of GBX463.4898 each, involving GBP5.8214 million.
MSCI announced the quarterly review results for the MSCI Global Standard Indexes.
MSCI Hong Kong Index SITC (01308.HK) will be added and BANK OF E ASIA (00023.HK) will be removed from the index.
MSCI China Index, 13 shares will be added; including AMEC (688012.SH) , Kingsoft Office (688111.SH) , Roborock (688169.SH) , Wantai BioPharm (603392.SH) , CBG (000009.SZ) , etc.
Two shares will be removed DouYu International Holdings Limited (DOYU.US) and PER ENERGY (02798.HK) Short selling $7.65M; Ratio 8.145%
The above changes will take place as of the close of August 31.
The Bureau of Commerce of Wuhan city expressed that relevant department has been in communication with XIAOMI-W (01810.HK) , in regards to the arrangement of a potential vehicle production project of the company stationed in Wuhan, reported The Paper.
The Central Committee of the Communist Party of China (CCCPC) and the State Council published the Implementation Outline for the Construction of a Government under the Rule of Law (2021-2025), aiming to protect the rights to property and independent operation among companies of different ownerships. Particularly, the Outline suggested strengthening and enhancing the enforcement of anti-monopoly and anti-unfair competition laws.
PRC's Politburo Standing Committee (PSC) and the State Council set out an outline on promoting the building of a rule of law government from 2021 to 2025, stressing the goal of perfecting the law-based administration and increasing the quality and efficacy of administration and law enforcement by 2025 The outline also mentioned that intelligent city infrastructure shall be gradually introduced to aid the upgrade of city governance and that an unified administrative big data system should be established to strengthen the integration of administrative information. They proposed to step up the law enforcement efforts in key areas, including food and drug, public health, natural resources, ecological environment, safe production, labor security, urban management, transportation, financial services, education and training, which are pivotal to public interest.
The Outline suggested to address the problems complained by the public noticeably by different categories, and conduct concentrated rectification. Also, issues that have significant potential risks and may cause serious consequences should be monitored and investigated on a daily basis.
CHINA VANKE (02202.HK) Short selling $13.75M; Ratio 26.112% , in response to the rumored potential disposal by EVERGRANDE (03333.HK) of stake in EVERG SERVICES (06666.HK) to the consortium led by CHINA VANKE, told The Paper that they have now no information to disclose.
CKH HOLDINGS (00001.HK) repurchased 443,500 shares on the Stock Exchange on 11 August, involving approximately $25.505 million in total.
FIH (02038.HK) announced the interim results for the six months ended 30 June 2021. The revenue rose 7.3% YoY to USD3.938 billion. The loss for the period narrowed to USD28.18 million from the loss of USD101 million for the corresponding period of the previous year. LPS was US0.3 cents. No interim dividend was declared.
BILIBILI-SW (09626.HK) announced that it is strategically investing an aggregate amount of RMB500 million in CHINA TELECOM (00728.HK)’s newly issued A shares. Based on an offering price of RMB4.53 per A share, BILIBILI-SW has been allocated 110 million of the newly issued A shares with a lock-up period of 36 months.
TECHTRONIC IND (00669.HK) announced its interim results for the six months ended 30 June 2021. The revenue for the period climbed 52% YoY to USD6.394 billion. The net profit amounted to USD524 million, up 57.9%. EPS was US28.62 cents. An interim dividend of HK85 cents was declared, compared to an dividend of HK53 cents for the corresponding period of the previous year.
PSBC (01658.HK) announced that it received the reply of the China Banking and Insurance Regulatory Commission and the Decision of Approval of the People's Bank of China, where both authorities had agreed to the Bank's public issue of not more than RMB150 billion tier-2 capital bonds.