Aug 2 HK / CHINA markets rebound but light T/O

02 Aug

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+275pts (+1.1%) 26,235.80 HSCEI +103pts (+1.1%) 9,337 T/O HK$166.94bn (-12% DoD)  

Markets opened higher, FTSE and CAC trading sideways, DAX dipped to flat
Manufacturing PMI Jul 62.8 vs 63.4 Jun (F/cast was 62.6)
Retail Sales Jun +4.2% MoM vs 4.6% May revised (F/cast was +1.5%)
Retail Sales Jun +6.2% YoY vs -1.8% May revised (F/cast was -0.6%)
Manufacturing PMI Jul 65.9 vs 65.1 Jun (F/cast was 65.6)
Manufacturing PMI Jul 58 vs 59.0 Jun (F/cast was 58.1)
Due later New Car Registrations for July Jun was -14.7% YoY (F/cast is +2.5%)
Manufacturing PMI Jul 60.4 vs 63.0 Jun (F/cast was 60.4)

US Futures

Opened Dow +135pts, S&P+0.4%, NDX +0.3% and are now Dow +218pts, with S&P and NDX +VE
AHEAD Manufacturing PMI, Construction Spending, ISM Manufacturing Data (PMI, Employment, Prices, New Orders), Logistics Managers Index

CHINA CSI 300 closed +123pts (+2.6%) @ 4,934
CSI 300 opened lower after the weak official PMI data at the weekend and Caixin data this morning and drifted lower initially. But rallied strongly from mid morning to 4,909 at lunch. PM the market worked slightly higher resistance at 4,935.
Metal and Coal names weak as Politburo calls for carbon emission reduction plan. CSRC calls for talks with SFC over the new rules being placed on Chinese companies.
Moutai +4.5% despite reporting the slowest net profit growth Consumer .

Shanghai Composite +66pts (+2%) @ 3,464 T/O US$93,694 vs US$79,277 Friday
Shenzhen Composite +324pts (+2.3%) @ 14,798 T/O US$133,499 vs US$120,094 Friday
ChiNext Composite Index +62pts (+1.7%) @ 3,674

China's National Health Commission reported 98 COVID-19 confirmed  cases yesterday (1 August),
with 55 of them being local cases (40 of  them recorded in Jiangsu; 7 in Hunan and 2 in Beijing).

Caixin Manufacturing PMI Jul 50.3 vs 51.3 Jun (F/cast was 51)


HSI Pre market opened @ 26,055 +94pts vs +7pts ADR’s but sold down initially to 25,740 level before rebounding to 26,300 late morning. It eased slightly into lunch. HSBC results at lunchtime were better than. expected +VE. Key changes today are the increase in HK stamp duty +VE for HK Exchange and Biden’s Executive Orders come into force meaning that US investors can no longer buy Mobile, Unicom, CNOOC, SMIC and Tracker Fund but it does not seem to be having any material impact.

HK reported no new local untraceable covid cases 
and 3 imported case.
Retail Sales Volume Jun +2.8% vs +7.7% May revised (F/cast was +6%)
Retail Sales Value Jun +5.8% vs +10.4% May (F/cast was +10.5%)
Weakness may be due to people waiting for the government vouchers which started to be distributed on Sunday. Over the coming months citizens will get a total of HK$5,000 in three tranches (2k, 2k and 1k)

EARNINGS Due Tuesday Include CK Life Science (775) SJM (880), HK Electric Investments (2638), Standard Chartered (2888).  

Short Selling Monday 16.3% vs 15.8% Friday
Top Shorts  
Wharf REIC (1997) 65%,  CLP (2) 48%,  WH Group (288)  43%, Shenzhou (2313) 38%, Hang Lung Property (101) 38%, Bank of China (3988) 37%, CK Asset (1113) 35%,Mengniu Dairy (2319) 33%,  Bud Apac (1876) 32%, New World Dev (17) 31%, Geely Auto (175) 31%, BankComm (3328) 29%,  Country Garden (2007) 29%, BoC HK (2388) 28%, Power Assets (6) 25%.  


Hong Kong Social Distancing Measures 
due on 4 Aug To Extend by 2 Weeks

XINYI ENERGY(03868.HK) announced interim result ended June 2021.
The revenue rose 30.4% year on year to HK$1.113 billion. The net profit amounted to HK$621 million, up 41.9% YoY.  EPS  was HK8.73 cents. An interim dividend of HK7.4 cents was declared against a dividend of HK6 cents in the corresponding period of the previous year.

XINYI SOLAR (00968.HK) announced interim result ended June 2021. The revenue rose 74.7% year on year to HK$8.075 billion. The net profit amounted to HK$3.072 billion, up 118.4%.  EPS  was HK34.87 cents. An interim dividend of HK17 cents was declared against a dividend of HK8.5 cents in the corresponding period of the previous year.

Hong Kong's chief executive Carrie Lam expressed during a press conference that Hong Kong has found no local cases for 56 consecutive days and has basically achieved the target of "zero local infection".  
Lam added that she is glad to see Hong Kong economy showing signs of recovery and hopes that the consumption voucher scheme would pose a positive effect on the economy.

HSBC HOLDINGS (00005.HK) will not distribute a quarterly dividend this year, said CFO Ewen Stevenson at a conference call.
Therefore, the Group may only declare a dividend payment during the next annual result release.  HSBC declared an interim DPS  of US7 cents for 1H21, representing a payout ratio of around 20%. This stood below the group's payout target of 40%-55%. However, Stevenson envisioned a higher payout for the full year.

OIL STRONG as concerns about the delta variant’s impact on fuel demand eased amid tight global supplies, CNOOC (883 HK +1.3%) CH OILFIELD (2883 HK +2.7%).
STEEL WEAK  ANGANG (347 HK -6.6%) and MAANSHAN (323 HK -9.3%) as China may face wider crude-steel output cuts as the nation moves to reduce emissions in key sectors. There will be more notable reductions in crude steel output along with govt-led environmental checks, the China Iron & Steel Association said on Sunday, outlining the prospects for the steel market in the second half.
CH SHENHUA (1088 HK +1.3%) announced prelim 1H net income +26% YoY to 26b yuan.
ZIJIN (2899 HK +6%) 1H net 6.65b yuan vs 2.42b yuan a year ago.
*HK BANKS FIRM  HSBC (5 HK +0.9% ) will pay an interim dividend of US 7 cents a share and is considering share buybacks, after reported adjusted profit rose to $5.56b in the second quarter, topping analysts’ estimates of $4.73b. HANG SENG BK (11 HK +0.6%) reported 1H net profit -4% YoY to HKD8.77b, declared HK$1.10 per share for second interim dividend.
*MACAU WEAK  as Macau's gaming revenue rose 528.1% in July to 8.44b patacas, trailing estimates for a 540.5% increase. Revenue increased 29.2% MoM, but dropped 65.5% from the pre-pandemic level in 2019, data from the Gaming Inspection and Coordination Bureau showed.
SJM's (880 HK -1.7%) The Grand Lisboa Palace Resort Macau, located in Cotai, representing an investment of about HK$39b, officially opened to the public on Saturday. MELCO (200 HK -2.4%) SANDS (1928 HK -1.1%) GALAXY (27 HK -1.6%) MGM (2282 HK -3.2%).
*E-COMMERCE/INTERNET MIXED amid continuous regulatory concerns, but support was seen ahead of ALIBABA's (9988 HK +1.5%) earnings due Tuesday.
CH EVERGRANDE (3333 HK +7.8%) agreed to sell stakes in its internet unit HENGTEN NETWORKS (136 HK +48%) for a total of HK$3.25b to ease funding pressure. The developer will sell 7% of the HK-listed HengTen to unit of TENCENT (700 HK -0.8%) for HK$2.07b and a 4% stake to an unidentified buyer for HK$1.18b.
MEITUAN (3690 HK +0.5%) NTES (9999 HK +1.7%) BIDU (9888 HK +2.1%).
*HK PROPERTY FIRM as demand for HK homes remains strong. HK's weekly secondary home prices reached a two-year high. The latest home price-tracking Centa-City Leading Index went up by 1.01% WoW to 188.77 points, the biggest increase in 13 weeks, and it is just 0.9% below the record high at 190.48.  SINO LAND (83 HK +5.4%) jumped amid optimism its three new MTR projects at Wong Chuk Hang, Kam Sheung Road and Lohas Park stations are likely to attract robust demand. SHKP (16 HK +1.3%) CKA (1113 HK +1.6%).
*CHINA PROPERTY FIRM as default concerns eased, with developers' bonds bouncing back from recent slump. SUNAC (1918 HK +4%) CIFI (884 HK +5.3%) CHINA JINMAO (817 HK +5.5%) SHIMAO (813 HK +3.9%).

Regional Markets
Market opened higher and worked better through the morning hitting resistance around the 7,500 level, which is a new high and then trading sideways. All sectors positive. Square Inc has announced plans to acquire Afterpay +30% for $39 billion; seen by some as a cheeky bid. Talk that the Santos and Oil Search merger is back on the cards.
Manufacturing Index Jul 60.8 vs 63.3 Jun (F/cast was 63)
Manufacturing PMI Jul 56.9 vs 58.6 Jun (F/cast was 56.8)
Inflation Gauge Jul +0.5% vs +0.4% Jun (F/cast was +0.5%)
Job Ads Jul -0.5% vs +1.5% Jun (F/cast was -1.5%)
Nikkei opened higher and worked higher through the morning after lunch it ticked up to test 27,800; then traded sideways to close +497pts (+1.8%) @ 27,781
Topix traded in a similar pattern and closed +39pts (+2%) @ 1,940
Covid concerns seem to have eased despite the extension of the state of emergency. PMI came out better than forecast. Earnings still in focus.
Leaders were Shippers, Iron/Steel, Glass/Ceramics, Trading Companies, Precision Instruments
Laggards Airlines, Railways, Services and Pharma.
Trading volumes were good
Manufacturing PMI Jul 53.0 vs 52.4 Jun (F/cast was 52.2)
Consumer Confidence Jul 37.5 vs 37.4 Jun (F/cast was 37)
S Korea
Kospi opened higher but dipped initially and sold down at midday into the red. But then rebounded and worked better to the initial morning level and traded sideways to close +21pts (+0.7%) @ 3,223
Kosdaq initially worked better but also sold down into the red around midday and also rebounded closed +7pts (+0.7%) @ 1,038
Tech strong after a strong July chip report. Steel weak after last week’s strength. Game stocks weak as Krafton IPO gets underway.
Utilities firm on expectation of a tariff hike in Q4
Trading volumes were low.
Manufacturing PMI Jul 53 vs 53.9 Jun (F/cast was 52.2)
KDCA announced 1,219 new covid cases.
Taiex opened slightly higher and tested in 17,350 in early trades. Pulled back to flat mid morning before working higher and closing at the day high +256pts (+1.5%) @ 17,503
Good data and local results encouraging investors. Turnover US$15.59bn vs US$19.17bn Friday.
CECC announced 14 new covid cases (inc 2 imported cases)
Manufacturing PMI Jul 59.7 vs 57.6 Jun (F/cast was 56)

Northbound RMB 79,215m Sell 38,061m vs 41,154m Buy
Southbound HK$  23,684m Sell 12,626m vs 11,058m Buy
Northbound RMB 92,667m Sell 45,288m vs 47,379m Buy
Southbound HK$ 23,917m Sell 11,609m vs 12,308m Buy

Active Heavyweights
HKEX (00388.HK)  Short selling $859.50M; Ratio 22.550%   closed at $517.5, up 4.3%
BABA (09988.HK) Short selling $1.02B; Ratio 21.879% closed at $191.9, up 1.5%
TENCENT (00700.HK) Short selling $1.30B; Ratio 9.410% closed at $475, down 0.8%
MEITUAN (03690.HK) Short selling $551.29M; Ratio 10.009% closed at $216, up 0.5%
AIA (01299.HK) Short selling $360.65M; Ratio 23.372% closed at $92.7, down 0.4%
PING AN (02318.HK)  Short selling $474.66M; Ratio 24.081%   closed at $68.25, up 0.1%

HSI & HSCEI Constituents on Move:
CONCH CEMENT (00914.HK)  Short selling $112.82M; Ratio 16.046%   closed at $40.2, up 8.2%
BYD COMPANY (01211.HK) Short selling $1.10B; Ratio 18.734% closed at $258.2, up 8%
EVERGRANDE (03333.HK) Short selling $29.56M; Ratio 6.467% closed at $5.67, up 7.8%
JD HEALTH (06618.HK) Short selling $267.24M; Ratio 41.672% closed at $79, down 5.3%
CHINA RES LAND (01109.HK) Short selling $69.30M; Ratio 8.096% closed at $27.25, up 4.8%
HANG LUNG PPT (00101.HK) Short selling $49.48M; Ratio 37.698% closed at $21, up 4.5%
XINYI SOLAR (00968.HK) Short selling $103.88M; Ratio 10.185% closed at $16.28, up 4.4%
SUNAC (01918.HK) Short selling $102.15M; Ratio 14.982% closed at $20.95, up 4%
SHIMAO GROUP (00813.HK) Short selling $10.35M; Ratio 5.390% closed at $15.92, up 3.9%
COUNTRY GARDEN (02007.HK) Short selling $42.16M; Ratio 28.577% closed at $7.88, up 3.7%
LONGFOR (00960.HK) Short selling $28.81M; Ratio 7.041% closed at $37.55, up 3.6%
CHINA OVERSEAS (00688.HK) Short selling $36.63M; Ratio 7.808% closed at $16.86, up 3.4%
CG SERVICES (06098.HK) Short selling $65.60M; Ratio 5.404% closed at $61, down 3.3%
CPIC (02601.HK) Short selling $41.66M; Ratio 13.009% closed at $22.6, up 3.2%
MENGNIU DAIRY (02319.HK) Short selling $148.98M; Ratio 32.887% closed at $43.45, up 3.1%
GEELY AUTO (00175.HK)  Short selling $905.60M; Ratio 30.630%   closed at $26.75, up 3.1%

HSMI & HSSI Constituents on Move:
HENGTEN NET (00136.HK)  Short selling $30.77M; Ratio 2.681%   closed at $5.06, up 48%
TCL ELECTRONICS (01070.HK) Short selling $2.41M; Ratio 3.587% closed at $4.52, up 14.1%
SINOTRUK (03808.HK) Short selling $19.23M; Ratio 15.696% closed at $15.16, up 14%
ZOOMLION (01157.HK) Short selling $8.98M; Ratio 4.030% closed at $7.59, up 13.6%
WEICHAI POWER (02338.HK) Short selling $123.84M; Ratio 15.245% closed at $19.3, up 13.5%
COMBA (02342.HK) Short selling $840.34K; Ratio 1.255% closed at $2.04, up 12.7%
SCHOLAR EDU (01769.HK) Short selling $117.28K; Ratio 0.239% closed at $2.09, up 12.4%
CGN NEW ENERGY (01811.HK) Short selling $9.73M; Ratio 5.066% closed at $3.35, up 11.7%
CRRC TIMES ELEC (03898.HK) Short selling $176.36M; Ratio 12.329% closed at $53.65, down 11.5%
CNBM (03323.HK) Short selling $35.32M; Ratio 6.898% closed at $9.31, up 10.8%
LEGEND HOLDING (03396.HK) Short selling $4.12M; Ratio 6.945% closed at $12.2, up 10.3%
DFZQ (03958.HK) Short selling $3.28M; Ratio 2.695% closed at $7.33, up 8.9%, hitting new high
ZTE (00763.HK) Short selling $53.70M; Ratio 5.330% closed at $30.1, up 8.7%, hitting new high
PACIFIC BASIN (02343.HK) Short selling $25.91M; Ratio 11.981% closed at $3.63, up 4.9%, hitting new high
CHINA RES POWER (00836.HK)  Short selling $124.35M; Ratio 8.613%   closed at $13.94, up 4.2%, hitting new high

Earnings at lunchtime
LIFESTYLE INT'L (01212.HK) announced interim result ended June 2021.
The revenue rose 12.8% year on year to HK$1.063 billion. The loss swung into profit of HK$220 million. EPS  was HK$0.146. No dividend was declared.

HSBC HOLDINGS (00005.HK) announced that the interim reported profit after tax increased by 1.5 times yearly to US$10.839 billion, above US$8.988-10.312 billion in brokers' forecasts as compiled by our reporters.   Net profit surged by 2.7 times annually to US$7.276 billion, with EPS of US$0.36. The company has announced an interim dividend of US7 cents per share.   Following the announcement of its rosy interim results, HSBC’s CEO Noel Quinn remarked that the results reflected the return of growth in the group's main markets and marked progress in the execution of its strategy.  Supported by the satisfactory performance, HSBC declared an interim dividend of US7 cents and expects to move to within the target dividend payout
ratio range of 40% to 55% of reported earnings per ordinary share in 2021.

HANG SENG BANK (00011.HK) Short selling $4.11M; Ratio 8.244% announced the results for the six months ended 30 June 2021. Net profit went down 4.1% yearly to HK$8.767 billion. EPS equaled HK$4.44.  The company has declared a second interim dividend of HK$1.1 per share. This brings the total distribution for the first half of 2021 to HK$2.2 per share, compared with HK$1.9 per share for the first half of 2020.

CLP HOLDINGS (00002.HK) announced the interim results as to 30 June 2021. Revenue increased 5.2% yearly to HK$40.729 billion. Total earnings decreased 23.2% annually to HK$4.615 billion, with  EPS  of HK$1.83.  A second interim dividend of HK$0.63 per share was declared, flattish year-over-year.


SWIRE PROPERTIES (01972.HK) announced that it will cooperate with the People’s Government of Chaoyang District, Beijing Municipality and the Beijing Public Transport Corporation (BPTC) in relation to the transformation of a BPTC maintenance plant, situated to the north of its Taikoo Li Sanlitun development at No.2 Xindong Road, Chaoyang District in Beijing, into a cultural and commercial destination. The cooperation is a testament to Swire Properties’ commitment to the long-term development of the Sanlitun Business Circle.

HSBC HOLDINGS (00005.HK) stays focused on natural growth in the Asian market, with multi-faceted investment in the Greater Bay Area, wealth management business, asset management business and insurance operation, said Chief Executive Noel Quinn at a conference call.  The lender is weighing up three to four acquisition chances mainly related to insurance, as well as high-net-worth wealth management and asset management businesses, he added.

CLP HOLDINGS (00002.HK) revealed that the company has no plan to issue any special dividends for the occasion of the company's 120th anniversary this year, said Richard Lancaster, chief executive officer of CLP, during an interim results press conference. The group has recorded a YoY increase of 4.4% in the electricity sales in Hong Kong over 1H21 and is confident in the sales growth outlook for this year, said Betty Yuen, CLP HOLDINGS Group Director and Vice Chairman - CLP Power Hong Kong.

HANG SENG BANK (00011.HK) believes the uncertainties ranging from new COVID-19 variants to geopolitical tensions still pose significant risks to economic recovery. The bank forecasts that the current low interest rate environment is likely to persist, which will continue to challenge their efforts to grow net interest income, said Margaret Kwan, acting chief executive and head of wealth and personal banking at the bank.  It hoped for a stable dividend distribution in the long run with sturdy dividend growth, said the CFO Andrew Leung.   Asked  whether he is confident the full-year dividend will be higher than that  of last year, Leung replied that the bank maintained a dividend payout at above 50% in the past generally, while it was more than 60% in the last three years. He also believes that the NIM has shown steady QoQ performances since 3Q20  and that it is unlikely to further decline, despite the pressure from  the persisting low-interest rate environment.

TENCENT (00700.HK)'s Tencent Cloud announced the cooperation with Posify, an online and offline e-commerce integration platform, in a bid to provide brand new online shop solutions to local SMEs. In order to support the SMEs to march towards digitalization, the new solutions will enable them to extend reach in GBA market through the connectivity of Weixin.

Quwan Network Technology is considering changing its IPO venue from the U.S. to Hong Kong given China's potential regulation on tech firms and possible U.S. requirement for more disclosure by China-based firms, IFR citing sources.
Quwan Network is said to be going public in the U.S. as soon as the second half of 2021, aiming to raise around US$200-300 million according to earlier rumors.
The company is principally engaged in the operation of TT Voice.

CHINA MOBILE (00941.HK)’s Migu and XIAOMI-W (01810.HK) initiated the "Cubic Meter Project" with all participating parties purportedly investing over RMB10 billion to build an ecology for cloud gaming industry.   CHINA MOBILE will provide the developing and operating environment to the cloud native games, while XIAOMI-W, on the other hand, will supply user traffic service.

MEITUAN-W (03690.HK) has reached an agreement with Shenzhen SIC Super Headquarter Center  to collaborate on demonstrating the testing point for drone delivery, with the aim to build the first ever drone delivery commercial area in the world, reported Chinese media.

Overnight HIBOR last posted at 0.04893%, logging a 1-month high, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.0825%.

The business of the catering industry rose around 10% yesterday, following the issuance of the first installment of consumption vouchers yesterday,  said the president of Institution of Dining Art, Simon Wong.   Wong expressed during an RTHK program that he expects $10-15 billion out of the $37 billion consumption vouchers to go into the catering sector.

Following the first installment of consumption vouchers worth $2,000 being issued yesterday, some businesses have already recorded an approximately 50-100% increase in their turnovers, 
said Annie Yau Tse, chairman of Hong Kong Retail Management Association (HKRMA).

SAIC MOTOR (600104.SH)  expressed that the company has been actively building a new industry ecology via cross-sector collaborations with several Internet companies. SAIC-GM-Wuling, specifically, has launched its partnership with XIAOMI-W (01810.HK)  Short selling $53.98M; Ratio 5.194%   on Internet ecology.

GANFENGLITHIUM (01772.HK)  announced the introduction of 20 strategic investors to Ganfeng LiEnergy Technology, a holding subsidiary of the Company, to bring in a capital increase of around RMB971 million.

TONGCHENG-ELONG (00780.HK) announced that the company and Tencent Computer, a subsidiary of TENCENT (00700.HK) a substantial shareholder of the company, entered into a Strategic Cooperation and Marketing Promotion Framework Agreement, pursuant to which, both sides agreed to engage in various advertising and marketing promotion services with each other for a term of three years from August 1, 2021 to July 31, 2024. Also, Tencent Computer will provide traffic support to the Company.

Fewer than 30 new homes were transacted at the weekend, given the lack of big project launches.  As for the second-hand market, Centaline's ten major housing estates tracked 13 deals, down 27.8% weekly.

Digital Chin (000034.SZ)  and BYD ELECTRONIC (00285.HK) signed a strategic alliance agreement, announcing collaboration on supply chain capability and building manufacture bases, while also exploring the possibility of further capital partnership.

HSBC announced that PayMe is launching rewards worth of HKD4 million in total; and that from 2 August to 30 September, users can get rewards up to HKD500 when they spend HKD100 or above at any PayMe for Business merchants. In addition, HSBC also revealed that PayMeow will team up with the star idol Keung To to provide various surprise rewards to its users.
Currently, the number of PayMe's users has reached over 2.5 million, with half of them belonging to younger generations who are below 40 years old.


Observing the recently imported COVID diagnoses, Yuen Kwok-yung, Chair of Infectious Diseases, Department of Microbiology at HKU, said the virus quantitation remains very high even after the patients have been injected with two doses for 14 days.  
Yuen advised that the vaccination rate of Hong Kong should reach 90% in order to keep the epidemic under control. Taking the U.K. as an example, the flare-ups may be due to Delta variant even with over 70% vaccination.
As to whether Hong Kong residents should take the third shot, the Professor said they may come up with a decision in September after more data is released.

Financial Secretary Paul Chan expressed that the consumption voucher scheme has officially commenced with the first installments of vouchers worth $2,000 already disbursed to the approximately 5.5 million citizens 
registered via electronic means in the first two weeks. This signifies that there is currently $11 billion worth of additional spending capital in total, which is projected to stimulate people's spending as well as the economy, Chan added.

MOST KWAI CHUNG (01716.HK)   announced that Tsui Ka Ho, a former executive Director and controlling  shareholder of the Company, has tendered his resignation from his  position as an executive Director with effect from 1 August
in order to  devote more time for his personal commitments.  Tsui  also sold one share in Blackpaper BVI to Iu Kar Ho and Luk Ka Chun,  both executive Directors and controlling shareholders of the Company, at  a consideration of HK$8 million.

JS GLOBAL LIFE (01691.HK) issued a positive profit alert.
The consolidated profit of the Group is expected to increase significantly to not less than US$205 million for the six months ended June 30, 2021, up 92.1% YoY.

NTES-S (09999.HK) announced that in connection with the proposed separate listing of Cloud Village, 
Cloud Village submitted a post hearing information pack (PHIP) to the Hong Kong Stock Exchange, which contains certain business information relating to Cloud Village.

ZIJIN MINING (02899.HK) announced interim result ended June 2021. 
The operating income rose 32.1% year on year to RMB109.863 billion. The net profit amounted to RMB6.649 billion, up 174.6%.
EPS was RMB0.262. No dividend was declared.

XPENG-W (09868.HK) announced that the Company recorded its highest-ever monthly deliveries in July 2021 of 8,040 Smart EVs, representing a 228% increase year-over-year, and a 22% increase over the last month.

HENGTEN NET (00136.HK) announced that EVERGRANDE (03333.HK), holding a 37.55% stake in the Group, intended to sell an 11% stake in HENGTEN NET for HK$3.25 billion.

On one hand, TENCENT (00700.HK), owning 16.9% of the Group, will acquire a 7% stake in HENGTEN NET for HK$2.069 billion. On the other hand, an independent third-party purchaser will buy from EVERGRANDE a 4% stake in HENGTEN NET for HK$1.182 billion.
The company applied for a trading resumption with effect from this morning.

The Gaming Inspection and Coordination Bureau of Macau announced that the GGR for July amounted to MOP8.444 billion, up 5.28x YoY and 29.2% MoM,
slightly below the market's estimate.
Macau's aggregate GGR for the first seven months amounted to MOP57.467 billion, up 63.9% YoY.

China shall stick to a solid and prudent monetary policy which is concurrently flexible, targeted and reasonably moderate, said the People's Bank of China
at a meeting for the work in the second half of 2021. Equally, the central bank will make well-designed cross-cyclical policies and have a good grasp of the pace and intensity of policy rollout.

Beijing is stepping up the anti-plague measures at Beijing Capital International Airport and Beijing Daxing International Airport, 
according to the news conference of the Beijing government.
Under the measures, the city strictly monitors the entry of people from mid-to-high-risk areas, restricts entry of those from regions where diagnoses are found, and suspends flights, trains and vehicles to travel to the Chinese capital.

PRC's Politburo Standing Committee (PSC) propounded the betterment of regulatory system of overseas listings
. Xinhua News Agency elaborated in its article that all listing companies should comply with the laws and regulations as well as regulatory requirement at their listing and business locations regardless of where they go for listings.  The article furthered China will keep its door wider open despite murky economic and financial landscape in the world, while sharing development opportunities with other countries.

China Securities Regulatory Commission (CSRC) expressed, in  response to the U.S. Securities and Exchange Commission (SEC)'s new  disclosure requirement for China concept stocks, that the regulatory  departments in both countries should strengthen their cooperation in  oversight, in order to foster a better market environment.
  CSRC  added that the Chinese government has always been open to the listing  locations of the companies so long as the companies are in compliance  with regulations and laws in respect of choosing which market to operate  in.

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