Aug 24 HK / China the bounce continues, slight increase in T/O and shorts

24 Aug

This and previous notes can be found at  and Substack (Asian Market Sense)
Check out  for your research needs

+618pts (+2.5%) 25,728 HSCEI +283pts (+3.2%) 9,099 T/O HK$171.78bn (+1.2% DoD)

Markets opened higher following another +VE handover from Asia and FDA approval of the Pfizer vaccine. But FTSE and CAC dipped whilst the DAX traded sideways.
L&G says the new agreed bid of $9.54bn for Morrisons is a better reflection of value. Sainsbury’s +VE on rumours it too may be a target now. M&S +VE on broker upgrade.
GDP Growth Rate Final Q2 +1.6% QoQ vs -2% Q1 revised (F/cast was +1.5%)
GDP Growth Rate Final Q2 +9.4% YoY vs +3.1% Q1 (F/cast was +9.2%)
CBI Distributive Trades Aug 60 vs 23 Jul (F/cast was 22)
US Futures
Opened in Asian time Dow +60pts, S&P and NDX +0.2% but have eased on news that Biden’s bill facing delays.
AHEAD Redbook, New Home Sales, Richmond Fed Manufacturing Index, API Crude Oil Stock Change.
Earnings: Best Buy, Bank of Montreal, Nordstrom, Intuit, Urban Outfitters, Toll Brothers, Advanced Auto Parts, Medtronic

CSI 300 closed +53pt (+1.1%) @ 4,888
CSI 300 opened higher and rallied to 4,873 in early trades and then traded sideways but then worked higher going into lunch and tested 4,900 before easing back. At lunch +52pts (+1.1%) @ 4,887. PM effectively traded sideways
SHComp regaining the 3,500 level (50DMA & 100DMA) prompting increased buying. Liquor names rebounded along with Brokers. China Tel in focus A share limit down for a second day.

Shanghai Composite +37pts (+1.1%) @ 3,515 T/O US$86,110 +10% DoD
Shenzhen Composite +128pts (+0.9%) @ 14,664 T/O US$121,578 +3% DoD
ChiNext Composite Index +23pts (+0.6%) @ 3,612

China's National Health Commission reported zero COVID-19 confirmed cases.

Pre market opened @ 25,429 +319pts vs +163pts ADR’s  
Recent shorts forced to cover. Macau strong as entry requirements will be eased from Wednesday midnight.
HSI rallied to test 25,600 in early trades. Eased back and traded around 25,500 through the morning. At lunch +392 (+1.6%) @ 25,502. PM market continued to work higher and ticked 50pts higher in the closing auction. Macau and Ecommerce names seeing strong interest. Old HK economy names were the laggards. Results remain in focus.
Mainland delegation in town to advise lawmakers about the latest 5 year plan and explain Hong Kong’s role and how HK can benefit.

ACOTEC-B (06669.HK)  closed at $17.60
down over 26% against its listing price.

EARNINGS HK due Wednesday includes:  
First Tractor (38), Shougang  Concord (103),  First Pacific (142), Tsingtao Brewery (168),  Daphne Int (210), Maanshan Iron (323), Sinopec Shanghai Pet (338), Dah Sing Financial Hlds (440), Midland IC&I (459),  TVB (511),  Samson (531),  Shenzhen Expressway (548), Nanjing Panda Electronic (553), China Oil & Gas (603),  Haitong Sec (665), China East Education (667), Beijing Capital Airport (694), Hopson Dev (754), Petrochina (857), Shimao Services (873), Sinopec Kantons (934), Longfor (960), China CITIC Bank (998), Kuaishou Tech (1024), Sinopec Yizheng Chem Fibre (1033), China Resources Land (1109), Razer (1337), Meitu (1357), Q Tech (1478), Kaisa (1638), Boer Power (1685), Xiaomi (1810), China Coal (1898), AAC Tech (2108), China Mengniu (2319),  Dah Sing Bank (2356),  Tongda (2363), China Life Ins (2628), China Oilfield Services (2883), Chongqing Rural Comm Bank (3618), China Railway Signal & Comm (3969), Country Garden Services (6098).  

HK reported 7 new covid cases; all imported.
SHORT SELLING Tuesday 15% vs 14.9% Monday
Top shorts 
Bank Comm (3328) 68%, Country Garden (2007) 47%, Sunny Optical (2382) 45%,  CK Asset (1113) 41%, Ali Health (241) 41%, SHKP (16) 41%, Bud Apac (1876) 36% Bank of China (3988) 36%, Henderson Land (12) 36%, Wharf REIC (1997) 35%, PingAn (2318) 35%, Hang Lung Ppty (101) 34%, MTRC (66) 33%, New World Development (17) 32%,  CITIC (267) 31%, Hengan (1044) 31%, China Overseas (688) 29%, Power Assets (6), AIA (1299) 29%, HKEX (388) 28%, HSBC (5) 27%, Baba (9988) 26%, CCB (939) 26%, CLP (2) 25%.  

RESULTS after market
YIHAI INTL(01579.HK)  Short selling $46.80M; Ratio 26.872%   announced interim result ended June 2021.
The net profit amounted to RMB349 million, down 12.6% yearly.  EPS was RMB35.56 cents. No dividend was declared.

HAIDILAO(06862.HK)  Short selling $65.74M; Ratio 16.124%   announced interim result ended June 2021. The revenue rose 105.9% year on year to RMB20.094 billion. The loss of RMB965 million for the corresponding period of previous year swung into profit of RMB94.529 million.  EPS was RMB0.02. No dividend was declared.

FOSUN INTL (00656.HK)  Short selling $12.71M; Ratio 39.283%   announced interim result ended June 2021. The revenue rose 11.3% year on year to RMB70.406 billion. The net profit amounted to RMB4.062 billion, up 101.9%. EPS was RMB0.48. No dividend was declared.

CALC (01848.HK) announced interim result ended June 2021.
The net profit amounted to HK$303 million, down 8.7% yearly.  EPS was HK$0.421. An interim dividend of HK$0.15 was declared.

SINOTRANS (00598.HK) announced interim result ended June 2021. The net profit amounted to RMB2.163 billion, up 77.9% yearly. EPS  was RMB0.2922. No dividend was declared.

KINGSOFT(03888.HK)  Short selling $128.84M; Ratio 22.128%   announced interim result ended June 2021. The revenue rose 17.3% year on year to RMB3.039 billion. The net profit amounted to RMB165 million, down 98.2% year on year. EPS was RMB0.12. No dividend was declared.

PA GOODDOCTOR(01833.HK)  Short selling $151.60M; Ratio 25.516%   announced interim result ended June 2021.  The revenue rose 39% year on year to RMB3.818 billion. The loss widened to RMB880 million from RMB214 million in the corresponding period of the previous year. LPS was RMB0.8. No dividend was declared.

CHINA TAIPING (00966.HK) announced the interim results. The net profit for the period surged 77.7% YoY to HK$5.112 billion.  EPS  was HK$1.423. No interim dividend was declared. Total premiums written and policy fees grew by 14.5% YoY to HK$156.971 billion.

CHINA JINMAO (00817.HK)  Short selling $4.05M; Ratio 17.334%   announced interim result ended June 2021. The net profit amounted to RMB4.301 billion, up 14.1% yearly.  EPS was RMB33.88 cents. An interim dividend of HK12 cents was declared.

CHINA FOODS(00506.HK)  announced interim result ended June 2021.  The revenue rose 19.3% year on year to RMB11.219 billion. The net profit amounted to RMB405 million, up 22.5% year on year. EPS was RMB14.46 fen. No dividend was declared.

SHUI ON LAND (00272.HK) announced interim result ended June 2021. The company swung into profit of HK$1.296 billion from a loss of HK$1.788 billion in the same period of the previous year. EPS was HK16.2 cents. An interim dividend of HK3.6 cents was declared, against no dividend in the year-ago period.


COUNTRY GARDEN (02007.HK)  Short selling $64.31M; Ratio 46.502%   CFO cum Vice President Wu Bijun commented on the company's efforts in turning the "three red lines" green. 
Currently, the company is still crossing one red line - the asset-liability ratio of the real estate company after excluding the advance receipts is still at 77% even though being lowered from the last year end's 80.53%. Yet the CFO clarified the metric has already turned yellow which indicates the company is rather safe, voicing hope that the three red lines could turn from yellow to green by mid-2023.  The "three red lines" set by Chinese government on the real estate sector are: the asset-liability ratio of the real estate company after excluding the advance receipts shall not be greater than 70%; the net debt ratio of the company shall not be greater than 100%; the "short-term cash debt ratio" shall be less than 1.

The Department of Culture and Tourism of Guangdong Province released today the Notice on Further Improving Cross-provincial Tourism Businesses. Within the province, travel agencies and online trip organizers are allowed to commence cross-provincial group tours and "air ticket + hotel" businesses orderly, with immediate effect.

CK ASSET (01113.HK)  Short selling $127.42M; Ratio 41.317%   revealed that Li Ka Shing Foundation Limited acquired a total of 2.5025 million shares in CK Asset at the average price of HK$51.9036, HK$51.8357, HK$51.5239 and HK$51.4798 per share on 18 August, 19 August, 20 August and 23 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 are as follows: Li Ka-shing's stake increased from 45.78% to 45.85%; Victor T K Li's increased from 45.85% to 45.91%; and Li Ka Shing Foundation Limited's increased from 11.06% to 11.13%.

ARKQ, a fund under Cathie Wood, purchased 164,900 shares of (JD.US) on August 23, according to disclosure information. JD-SW (09618.HK) Short selling $1.05B; Ratio 31.168% rallied 14.94% or $36.4 today to close at $280.

Regional Markets

Market opened higher and rallied to 7,515 in opening trades. It then traded sideways around 7,510 for the morning before working higher seeing resistance at 7,520 but then managed to push above to 7,524 before trending lower,  found support at 7,500 and ticked higher to close +13pts (+0.2%) @ 7,503
Leaders Travel, Energy, Info Tech and Materials.
Laggards Consumer and Communication. Earnings in focus.
Earnings over and questions being asked about whether PM Suga can win his party’s nomination and an election. Pfizer’s vaccine getting full FDA approval +VE for re-opening stocks. Leaders Shippers, Iron/Steel, Airlines. Laggards Rubber, Banks, Precision Instruments and Pharma.  
Nikkei opened higher and worked higher through the morning before hitting resistance around 27,800 level; eased into lunch @ 27,763.  PM traded sideways around that level before dipping to close +238pts (+0.9%) @ 27,732
Topix traded in a similar fashion. At lunch +20pts (+1%) @ 1,935 and closed +19pts (+1%) @ 1,934
Yamaha Corp +4.4% selling stake in Yamaha Motor -5.7% and will use proceeds for a share buyback.
Showa Denko -9.6% to sell 109bn Yen worth of shares to fund capex on chip materials and other projects; dilution worries.
S Korea
Pre market weak Consumer Confidence but the survey co-incided with the surge in covid cases. Foreigners turn buyers of Tech. EV battery names sold down in last 30mins SDI -3.5%. Samsung +3% on news it was increasing capex.
BoK announced Q2 Household Debt +41.2t won
KDCA announced 1,509 new covid cases (+91 DoD)
Kospi opened higher at 3,120 and worked higher but resistance around 3,140 level. Around 12:30pm eased back to 3,120 before finding support and then worked better to close +48pts (+1.6%) @ 3,138.
Kosdaq trading in a similar pattern, resistance around 1,015; dipped to 1,002 before rebounding to close +20pts (+2%) @ 1,013
Taiex opened higher and rallied to 16,904 in early trades. It then eased back to 16,800 and traded sideways for most of the day to closed +77pts (+0.5%) @ 16,819. Textile, Energy, TSMC +VE (although other Tech names cloeed lower), Shipping drifting lower. Laggards Industrial’s and Healthcare
T/O was US$14.81b vs US$13.01b Monday
CECC reported 6 new covid cases (5 imported)
After market United Microelectronics Corporation (UMC) has notified its customers of the upcoming price hike in September, November and January next year, reported Taiwan media. The market had originally forecast that, under TSMC's price freeze strategy on 28nm chips, the growth momentum of UMC's 22/28nm chips will be somewhat dented. However, several reports suggested that the January's quote for 28nm chips from UMC has already reached a record high, exceeding TSMC's highest quote of USD2,800 for the first time.

Northbound RMB 64,571m Sell 29,785m vs 34,786m Buy
Southbound HK$  19,936m Sell   9,441m vs  10,485m Buy
Northbound RMB 75,866m Sell 37,776m vs 38,090m Buy
Southbound HK$   19,497m Sell  9,187m vs 10,310m Buy

Active Heavyweights
MEITUAN (03690.HK)  Short selling $262.78M; Ratio 7.159%   closed at $221.8, up 13.5%
BABA (09988.HK) Short selling $670.11M; Ratio 19.263% closed at $166.5, up 9.5%
TENCENT (00700.HK) Short selling $149.30M; Ratio 1.545% closed at $472, up 8.8%
PING AN (02318.HK) Short selling $290.73M; Ratio 40.008% closed at $64.2, up 1.3%
HKEX (00388.HK) Short selling $278.30M; Ratio 27.226% closed at $490.2, up 1.1%
AIA (01299.HK) Short selling $202.30M; Ratio 24.175% closed at $95.6, down 0.2%

HSI & HSCEI Constituents on Move:
KUAISHOU-W (01024.HK)  Short selling $79.75M; Ratio 5.235%   closed at $80.35, up 15.1%
JD (09618.HK) Short selling $208.14M; Ratio 18.934% closed at $280, up 14.9%
JD HEALTH (06618.HK) Short selling $69.06M; Ratio 15.664% closed at $73.45, up 14.5%
ENN ENERGY (02688.HK) Short selling $129.62M; Ratio 17.629% closed at $140.7, down 13.3%
SANDS CHINA LTD (01928.HK) Short selling $44.88M; Ratio 17.563% closed at $24.1, up 9.3%
HAIDILAO (06862.HK) Short selling $21.27M; Ratio 13.939% closed at $28.8, up 9.1%
GALAXY ENT (00027.HK) Short selling $31.96M; Ratio 5.095% closed at $47.75, up 8.9%
BIDU-SW (09888.HK) Short selling $87.53M; Ratio 26.519% closed at $146.2, up 8.6%
NTES (09999.HK) Short selling $67.82M; Ratio 14.843% closed at $136.6, up 7.7%
WUXI BIO (02269.HK) Short selling $283.78M; Ratio 13.635% closed at $121.7, up 7.7%
EVERG SERVICES (06666.HK) Short selling $7.76M; Ratio 4.184% closed at $5.85, up 6.9%
SHENZHOU INTL (02313.HK) Short selling $127.68M; Ratio 31.080% closed at $170.8, down 6.5%
ALI HEALTH (00241.HK) Short selling $53.34M; Ratio 27.995% closed at $11.26, up 6.4%
AAC TECH (02018.HK) Short selling $8.24M; Ratio 11.987% closed at $45.7, up 5.1%
HK & CHINA GAS (00003.HK) Short selling $13.47M; Ratio 9.275% closed at $12.6, down 4.4%
CHINA FEIHE (06186.HK) Short selling $50.12M; Ratio 21.643% closed at $14.64, up 4.3%
CG SERVICES (06098.HK) Short selling $30.69M; Ratio 13.282% closed at $59.5, up 4.1%
EVERGRANDE (03333.HK) Short selling $58.77M; Ratio 24.478% closed at $4.48, up 3.9%
XIAOMI (01810.HK) Short selling $246.28M; Ratio 19.161% closed at $25.25, up 3.7%
CPIC (02601.HK)  Short selling $13.78M; Ratio 17.346%   closed at $22.45, up 3.5%

HSMI & HSSI Constituents on Move:
NH HEALTH (06606.HK)  Short selling $6.21M; Ratio 14.996%   closed at $46.05, up 15.4%
SCHOLAR EDU (01769.HK) Short selling $246.45K; Ratio 2.368% closed at $1.91, up 13%
BAOZUN-SW (09991.HK) Short selling $501.33K; Ratio 7.901% closed at $55, up 12.2%
NAGACORP (03918.HK) Short selling $568.48K; Ratio 11.553% closed at $5.72, up 11.1%
KWG LIVING (03913.HK) Short selling $1.76M; Ratio 6.195% closed at $6.57, up 10.4%
POLY PPT DEV (06049.HK) Short selling $5.88M; Ratio 4.129% closed at $47.15, up 10.2%
SHIMAO SERVICES (00873.HK) Short selling $3.72M; Ratio 17.106% closed at $19.06, up 10%
CHINA WATER (00855.HK) Short selling $351.10K; Ratio 1.126% closed at $7.13, up 6.1%, hitting new high
PACIFIC BASIN (02343.HK) Short selling $18.12M; Ratio 21.513% closed at $3.93, up 5.1%, hitting new high
CHINA POWER (02380.HK)  Short selling $14.81M; Ratio 6.472%   closed at $2.82, up 1.8%, hitting new high
RESULTS at lunchtime

COUNTRY GARDEN (02007.HK)  Short selling $25.50M; Ratio 50.765%   released the interim results for the six months ended 30 June 2021. 
The Group recorded total revenue of RMB234.93 billion, up 27% yearly. The profit attributable to owners of the Company increased by 6.1% to RMB14.996 billion. EPS was RMB0.69. The Board declared an interim dividend of RMB20.98 cents. The core net profit attributable to the owners of the Company rose by 4.2% year on year to approximately RMB15.22 billion.

R&F PROPERTIES (02777.HK)  Short selling $10.87M; Ratio 51.714%   announced interim result ended June 2021.
The net profit amounted to RMB3.08 billion, down 18.8% yearly.  EPS
was RMB0.8209. An interim dividend of RMB0.1 was declared.

ANTA SPORTS (02020.HK)  Short selling $87.11M; Ratio 14.969%   announced the interim results for the six months ended 30 June 2021. 
The revenue for the period amounted to RMB22.812 billion, up 55.5% YoY. Net profit shot up 131.6% YoY to RMB3.84 billion.EPS was RMB142.77 fen. An interim dividend of HK60 cents was declared, against a dividend of HK21 cents for the corresponding period of previous year.  They also announced changing the baord lot size to 200 shares from 1,000 shares

K. WAH INT'L (00173.HK)  announced interim result ended June 2021. 
Underlying profit before fair value change of investment properties was HK$488 million, down about 82% YoY from HK$2.736 billion in the same period last year. Basic EPS was HK24.83 cents. An interim dividend of HK7 cents per share was declared, same as that in the corresponding period last year.

YONGDA AUTO(03669.HK) announced interim result ended June 2021.  The revenue rose 45.9% year on year to RMB40.506 billion. The net profit amounted to RMB1.172 billion, up 121.1% year on year.  EPS  was RMB0.59. No dividend was declared.


MEITUAN-W (03690.HK) released the nomination list for the "2022 Black Pearl Restaurant  Guide", with 736 restaurants being awarded nominations, covering 26  cities around the globe. 
Nominated  restaurants spread across 22 Chinese cities including Beijing,  Shanghai, Guangzhou and four overseas cities such as Paris and New York.  Hong Kong, in particular, boasts 58 nominated restaurants, including  the likes of "The Chairman".

"LA MARINA", phase two of the residential project "The Southside"  atop Wong Chuk Hang station, jointly developed by KERRY PPT (00683.HK) , SINO LAND (00083.HK)  and MTR CORPORATION (00066.HK) ,  has released the first price list, launching 120 units, including 16  one-bedroom units, 74 two-bedroom units and 30 three-bedroom units, with  salable areas ranging from 341-921 square feet.  Based on the maximum discount of 20%, the discounted selling prices range from $10.7992 million- $30.8512 million.

HENDERSON LAND's residential project "The Henley III" has uploaded  the sales brochure and will soon unveil the model flats with the first  price list likewise scheduled to be released within this week, expressed Thomas Lam, general manager of sales department of the company. Lam  added that the sales of the project is expected to commence officially  between the end of this month and early September.

BYD COMPANY (01211.HK) announced that it had on 19 August switched on the first "Zero Carbon Park" project in Pingshan Industrial Park, where the car maker intended to groom a zero carbon park headquarter for China's car brands, and to build a three-dimensional intelligent green rail transit system, NEVs for travel and commuting, energy storage systems, NEV charging piles and other equipment.

GAC GROUP (02238.HK)  Short selling $14.98M; Ratio 6.891%     is arranging for the capital increase and share expansion of its  subsidiary, GAC Aion, as Cailian Press cited people familiar with the  matter. A GAC GROUP insider has confirmed the action

China Securities Regulatory Commission (CSRC), on 20 August, received the application materials for IPO outside of Mainland China from Zhuhai Wanda Commercial Management Group, indicating that the company is proceeding with its Hong Kong IPO project. 
Wanda Commercial Management is purportedly planning to introduce pre-IPO investors such as PAG, COUNTRY GARDEN (02007.HK)  Short selling $25.50M; Ratio 50.765%  and TENCENT (00700.HK).

The world's largest index provider MSCI's chairman and CEO Henry Fernandez expressed that he does not regard the Chinese stocks as un-investable due to the Chinese government's clampdown
.  Fernandez remarked during a Bloomberg Television interview that China's market had been troubled by regulatory issues every three to five years and the stock market always tends to react in a sell-off. The Chinese market, however, would always recover in a short period of time and charge up to new record peaks, Fernandez added.

Regarding the meeting between People's Bank of China and China  Banking, Insurance Regulatory Commission (CBIRC) and EVERGRANDE  (03333.HK) 's 
senior executives last Thursday (19th), the state-run media Economic  Daily expressed that the meeting serves the dual purposes of propelling  the resolution of EVERGRANDE's debt crisis and cautioning other  real-estate developers.  The  article further stressed that no exceptions will be accepted by the  Chinese government in terms of preventing and controlling financial  risks and that all developers are required to abide by relevant  regulations.

Volvo Cars announced to acquire ZD1, the heavy duty truck wing of JMC (000550.SZ) ,
at SEK1.1 billion (around US$125.7 million).  The acquired business comprises a manufacturing base in Taiyuan, China. Volvo plans to start producing its new heavy duty Volvo FH, Volvo FM and Volvo FMX trucks there from end-2022.

The Hong Kong Government will open "same-day ticket" arrangement for vaccination program for students aged above 12,
in hope of parents to support more primary and secondary students to be inoculated, Chief Executive Carrie Lam told reporters ahead of ExCo meeting.

The Hong Kong Government will announce about how to ensure the recognition of vaccination records logged in the Philippines and Indonesia after discussion with the two countries
, so that the foreign domestic helpers (FDHs) can undergo 21-day quarantine upon return to Hong Kong orderly, as Chief Executive Carrie Lam told reporters ahead of ExCo meeting.


XPENG-W (09868.HK) (XPEV.US)   announced that since initiating the large-scaled vehicle delivery in July 2020,
the company has produced an aggregate of 50,000 units of "XPeng P7" as of 23 August.

The Buildings Department approved 18 building plans in June, including the site at Anderson Road, Kwun Tong under the "Starter Homes" Pilot Scheme for Hong Kong Residents.
It was bid by CK ASSET (01113.HK)  Short selling $44.15M; Ratio 32.781%   at $4.95 billion last year.  The four houses shown by the building plans will be allocated under the scheme's balloting mechanism, according to CK ASSET, who believed the successful applicants would be over the moon.

Fitch Ratings affirmed CKI HOLDINGS (01038.HK)'s Issuer Default Rating (IDR) and senior unsecured rating at 'A-' with Stable Outlook. 
The rating agency also lifted CKI's Standalone Credit Profile (SCP) to 'a-', from 'bbb+'.  Fitch attributed its SCP upgrade on CKI to the company's long-run operation and financial resilience amidst the cycle, backed by its prudent strategy and constantly strong execution. Such positives were even more phenomenal amid the pandemic.Moody's downgraded the local currency and foreign currency long-term issuer ratings of CHINA HUARONG (02799.HK)  from "Baa1" to "Baa2". The company's Baseline Credit Assessment was also downgraded from "B2" to "Caa2", still on review for downgrade.HENDERSON LAND (00012.HK)  Short selling $9.45M; Ratio 21.888%   pointed out in its interim results that in the first half of 2021, the Government reclaimed a total land area of about 100,000 square feet in Kam Tin, Yuen Long for public use by payment of cash compensation of HK$80 million.  The site is located outside Kong Ha Wai in Kam Tin, set to be used for public housing development, reported Hong Kong Economic Journal. The compensation rate will be calculated based on that for Zone B land resumption, i.e. $800 per square feet.Public Security Police Force of Macau announced that, for the week 16-22 August, the visitor number (both inbound and outbound) stretched by around 65.3% compared to the previous week (9-15 August).

U.S. Securities and Exchange Commission (SEC) has issued new disclosure requirements for Chinese corporates seeking U.S.
IPO, in order to deepen investors' understanding on the relevant investment risks, 
reported Reuters, citing relevant documents.
Some Chinese firms have already received detailed instructions from SEC, which demand additional disclosure on information relating to the VIE used in the IPOs, potential impact on investors as well as potential operating risks.China's State Administration for Market Supervision (SAMR) announced the investigation and handling of six food safety cases, one of which involves NAYUKI (02150.HK) . Accordingly, SAMR proposed the biggest fine of RMB100,000 for each of the two Beijing Nayuki teahouses concerned. Store managers therein will be fined RMB250,000 and RMB280,000, respectively.

Yi Gang, the governor of the People's Bank of China, expressed during a meeting yesterday (23rd) that it is vital for the Chinese government to maintain stability in monetary policies
while forging measures that are more forward-looking and effective.
Yi added that supporting the real economy shall be placed as the primary aim and that the government should focus on achieving economic growth with high quality, so as to ensure consistent recovery for the SMEs and struggling sectors
GENSCRIPT BIO (01548.HK)  announced the interim results for the six months ended June 30, 2021. The loss narrowed to USD91.12 million from the loss of USD113 million for the corresponding period of the previous year. LPS was US4.61 cents. No interim dividend was declared.

CHINASOFT INT'L (00354.HK) announced the interim results for the six months ended 30 June 2021.
Net profit increased by 29% yearly to RMB518 million.  EPS was 18.92 fen. No interim dividend was declared.

FOSUN PHARMA (02196.HK) announced the interim results for the six months ended 30 June 2021. 
The net profit for the period grew 44.8% YoY to RMB2.482 billion.  EPS was RMB97 fen. No interim dividend was declared.TENCENT (00700.HK)'s statement disclosed that on 23 August, it had repurchased 230,000 shares on the Stock Exchange at a price ranging from $432-443.8 per share, involving approximately $101 million.

BANK OF CHINA (03988.HK)  Short selling $123.27M; Ratio 45.777%   announced that the Bank would invest to establish a wholly-owned subsidiary, Bank of China (Macau) Limited
, with a total capital contribution of MOP13 billion.  The Bank has received the approval of China Banking and Insurance Regulatory Commission and the permission of China Macau SAR Government for the establishment of Macau Subsidiary of the Bank.

CKH HOLDINGS (00001.HK)'s statement disclosed that on August 23, the company repurchased 420,000 shares on the Stock Exchange at a price ranging from $56.95 to $57.5 per share, involving a total of approximately $24.05 million.   Year to date, the company has repurchased a total of 13.6275 million shares, accounting for 0.3534% of the company's share capital.

* The email will not be published on the website.