July 29 HK/CHINA WRAP Rebound on soothing words but the threat remains; increased shorting.

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+841pts (+3.3%) 26,315 HSCEI +345pts (+3.8%) 9,416 T/O HK$254.12bn (-9.7% DoD)  

Opened +VE; DAX trading around flat, CAC opened higher drifting slightly lower, FTSE working higher. Travel +VE as UK allows vaccinated visitors.  Investors reacting to Fed decision and the large number of earnings;
Credit Suisse weak after earning missed
Shell higher after profits soared
Total higher announced a buyback plan
Volkswagen weak despite raising its profit margin
Airbus higher on positive outlook and good deliveries todate
Consumer Confidence Jul -4.4 vs -3.3 Jun (F/cast was -4.4)
Sentiment data
Economic Jul 119 vs 117.9 Jun (F/cast was 118.5)
Industrial Jul 14.6 vs 12.7 Jun (F/cast was 12.9)
Services Jul 19.3 vs 17.9 Jun (F/cast was 19.1)
Consumer Inflation Expectations Jul 30 vs 27.1 Jun (F/cast was 26.9)
Unemployment Change Jul -91k vs -38k Jun (F/cast was -22k)
Unemployment Rate Jul +5.7% vs +5.9% Jun (F/cast was +5.8%)
Due later Inflation Data
PPI Jun 1.1% MoM vs +0.4% May revised (F/cast was +0.4%)
PPI Jun +7.5% YoY vs +7.2% May (F/cast was +6.8%)
Car Production Jun 22.1% YoY vs +934.3% May (F/cast was +32.5%)
BoE Consumer Credit Jun £0.3B vs £0.43B May revised from £0.28B (F/cast was £0.68B)
Mortgage Approval Jun 81.3k vs 86.9k May revised from 87.5k (F/cast was 81.5k)
Mortgage Lending Jun £17.9B vs £6.8B May revised (F/cast was £7B)
Net Lending to Individuals Jun £18.2B vs £7.2BMay revised from £6.6B (F/cast was£7B)
US Futures
Opened Dow +40pt, S&P and NDX -0.2% but rallied as Europe came in now Dow +142pts, S&P flat and NDX slightly -VE
Initial claims, GDP and PCE data in focus.

CHINA CSI 300 closed +90pts (+1.9%) @ 4,850
CSRC tries to sooth investors but the damage has been done. Despite the fundementals of the Chinese economy being sound Beijing has hurt both domestic and foreign investors. Beijing said mid morning said that chinese companies will be allowed to IPO in the US reported CNBC that would suggest the VIE structure will be allowed although it could be subject to restrictions.
CSI 300 opened higher after CSRC meeting and more soothing articles in the press but trended lower, saw support at 4,800 level, which suggest Team China active to support the market and restested 4,840 before lunch. PM worked higher to test 4,860 sold down but bounced into the close

Shanghai Composite +50pts (+1.5%) @ 3,412 T/O US$76,115 vs US$79,226 Wednesday
Shenzhen Composite +429pts (+3%) @ 14,515 T/O US$110,944 vs US$108,443 Wednesday
ChiNext Composite Index +181pts (+5.3%) @ 3,601

China's National Health Commission reported 49 COVID-19 confirmed  cases yesterday (28th), with 25 of them being imported cases 
and the remaining 24 being local cases (20 of them recorded in Jiangsu; 3 in  Sichuan and 1 in Beijing).

HSI Pre market opened @ 26,221 +748pts vs +709pts ADR’s; saw some initial selling but support at 25,860 level and worked higher into lunch.  PM traded sideways around 26,250 and closed at 26,315 Interestingly Property weak despite the FOMC comments; concerns are that is a sector that could still come under specific reform. Futures expiry today adding to the interest.

HK reported no new local untraceable covid cases 
and 2 imported case

Short Selling Thursday 17.4% vs 11.1% Wednesday
Top Shorts 
Country Garden (2007) 53%, Bud Apac (1876) 44%, Ping An (2318) 38%, CLP (2) 35%,  Haidilao (6862) 33%, Henderson Land (12) 33%, Wharf REIC (1997) 31%, Power  Assets (6) 30%, CCB (939) 28%,  Baba (9988) 28%,  Bank Comm (3328) 28%, Sinopec (386) 28%, HSBC (5) 28%, Sunny Optical (2382) 28%, Mengniu Dairy (2319) 28%, CK Asset  (1113) 27%,  SHKP (16) 27%, MTRC (66) 27%, AIA (1299) 26%, Bank of China (3988) 26%,  Hang Seng Bank (11) 25%,  HKEX (388) 25%, BYD (1211) 25%, NWD (17) 25%.  


DIDI Global strong in US pre market on news that it is considering going private. Seems it may be to placate Beijing and US investors

LANSEN PHARMA (00503.HK)  announced that for the six months ended 30 June 2021, the Group’s net profit is expected to record a significant decrease
as compared with that of the same period last year.

CHINA EB LTD (00165.HK) issued a positive profit alert.
The net profit attributable to equity shareholders of the Company for the six months ended 30 June 2021 is expected to increase by not less than 100% as compared with that for the corresponding period in 2020.

CHINA COMM CONS (01800.HK) announced that in the first half of 2021, the value of new contracts of the group amounted to RMB685.131 billion, representing a year-on-year increase of 28.52%, achieving 58% of the group’s annual goal.

The disposal of SOHO CHINA (00410.HK) to Blackstone Group has been met with regulatory hurdles related to the former's founder, Reuters citing sources.
The Chinese developer was proposed general offer by Blackstone at $5 per share back in June.  Shares of SOHO CHINA stumbled 19.9% to close at $3.02.

The Lands Department today (July 29) posted notices of land resumption and creation of easements or other rights in accordance with section 4 of the Lands Resumption Ordinance (Chapter 124) and sections 14 and 16 of the Roads (Works, Use and Compensation) Ordinance (Chapter 370) for implementation of public housing developments at Long Bin, Yuen Long.  A total of 106 private lots with an area of about 4.8 hectares will be resumed. The government added that the public housing developments will provide a total of about 12,000 flats upon full completion. The first batch of population intake is expected in 2025.

Seven Chinese authorities jointly published an article to protect food delivery staff's legitimate rights, which was the right thing to do in the view of YUM CHINA-S (09987.HK)
CEO Joey Wat. At the moment, 40% of the platform's takeaway orders were being made via its home-grown app. Equally, the firm would provide food delivery riders with standardized insurance plans and other protection as well as competitive salary. Therefore, she did not envision a huge impact from the new policy.  On another note, YUM CHINA-S ramped up its store opening target to 1,300 for the year. The firm's Pizza Hut restaurant openings set a new high in the first half of 2021 since 2016. Wat projected faster store openings in the second half of year as driven by the small-format store model.

Ronnie Chan, Chairman of both HANG LUNG PPT (00101.HK)  and HANG LUNG GROUP (00010.HK) , described the increase in interim dividend as a positive and confident signal from the group.
As to whether there will be increment in the annual dividend, he said the company will come up with the decision at the end of the year.  CEO Weber W.P. Lo, on the other hand, mentioned about the persistent momentum of luxury retail business of shopping malls in China. With most high-end malls posting double-digit revenue growth in 1H21, the company hoped the segment to keep the same high level into 2H21

Regional Markets
NSW announced 239 new covid cases -VE
Market opened higher initially to 7,400 and then to 7,410. It then traded sideways around that level for the rest of the day, to close +38pts (+0.5%) @ 7,417.
RioTinto hit a new high post earnings along with BHP and Fortescue Metals hit highs too. Tech shares +VE too
Export Prices Q2 +13.2% QoQ vs +11.2% Q1 (F/cast was +7.4%)
Import Prices Q2 +1.9% QoQ vs +0.2% Q1 (F/cast was +1.3%)
Announced 3,865 covid cases are record for a third day; the expectation is that the state of emergency will be extended tomorrrow.
Focus was on earnings and there was a Topix rebalance on the close
Nikkei opened higher and worked higher to test 27,800 mid morning before easing back into lunch. PM opened higher and traded sideways in the range 27,750 / 27,800 to close  +201pts (+0.7%) @  27,782
Topix opened higher and traded sideways testing the 1,930 level for most of the morning before easing into lunch. PM traded in a tight range 1922/25 before spike on the rebalance to close +8pts (+0.4%) @ 1,927.
S Korea
KDCA announced 1,674 new covid cases (-222 DoD).
Samsung Electronics' results in line; forecast robust demand for memory chips under the launches of new smartphone models with the demand for monitors likewise predicted to revive.
Kospi opened higher with earnings in focus. Samsung results in line. Tested 3,252 in early trades but then sold down into the red but bounced back to 3,245 before easing back to flat thena small rally to close +6pts (+0.2%) @ 3,243.
Kosdaq rangebound trading 1,040/044 with resistance apporaching 1,045 and closed +9pts (+0.8%) @ 1,044
Taiex opened higher and rallied to 17,292 in early trades. Then pulled back with support around 17,200 which was tested before the market worked hgiher and closed at the day high; +268pts (+1.6%) @ 17,403. Sentiment +VE on good earnings and with covid under control (CECC reported 18 new covid cases).
The United States House of Representatives on Wednesday passed a State Department and foreign assistance spending bill that included an amendment forbidding the use of any funds to create, procure or display maps that depict Taiwan as part of the People's Republic of China. Tom Tiffany said: "This is a common sense measure. As we all know, Taiwan has never been part of Communist China. The Taiwanese people elect their own leaders, raise their own armed forces, conduct their own foreign policy, and maintain their own international trade agreements."

Northbound RMB 68,235m Sell 35,031m vs 33,204m Buy
Southbound HK$   30,840m Sell 17,023m vs 13,817m Buy
Northbound RMB 86,970m Sell 40,458m vs 46,513m Buy
Southbound HK$ 31,815m Sell 16,613m vs 15,202m Buy

Active Heavyweights
TENCENT (00700.HK)  Short selling $1.43B; Ratio 6.885%   closed at $492, up 10%
MEITUAN (03690.HK) Short selling $1.60B; Ratio 12.296% closed at $228.4, up 9.5%
BABA (09988.HK) Short selling $1.55B; Ratio 26.791% closed at $197.3, up 7.7%
HKEX (00388.HK) Short selling $1.01B; Ratio 22.706% closed at $500, up 5.8%
AIA (01299.HK) Short selling $580.55M; Ratio 27.313% closed at $92.05, up 3.9%
CCB (00939.HK) Short selling $360.47M; Ratio 29.612% closed at $5.41, down 2.7%
PING AN (02318.HK)  Short selling $667.79M; Ratio 36.264%   closed at $67.55, up 2.4%

HSI & HSCEI Constituents on Move:
ALI HEALTH (00241.HK)  Short selling $72.29M; Ratio 10.149%   closed at $12.88, up 22.7%
JD HEALTH (06618.HK) Short selling $282.63M; Ratio 34.815% closed at $85.2, up 16.1%
JD (09618.HK) Short selling $413.85M; Ratio 24.568% closed at $283.2, up 12.8%
NTES (09999.HK) Short selling $122.29M; Ratio 13.370% closed at $157.7, up 12.2%
BYD COMPANY (01211.HK) Short selling $457.89M; Ratio 22.221% closed at $231, up 9.5%
SUNNY OPTICAL (02382.HK) Short selling $327.53M; Ratio 33.981% closed at $236.2, up 8.8%
GEELY AUTO (00175.HK) Short selling $293.98M; Ratio 15.234% closed at $25.55, up 7.6%
BIDU-SW (09888.HK) Short selling $45.53M; Ratio 13.925% closed at $164.8, up 7.5%
CHINA FEIHE (06186.HK) Short selling $41.31M; Ratio 11.555% closed at $15.06, up 6.5%
XINYI SOLAR (00968.HK) Short selling $52.44M; Ratio 13.685% closed at $15.1, up 6.3%
CG SERVICES (06098.HK) Short selling $194.85M; Ratio 14.183% closed at $64.4, up 6.2%
CSPC PHARMA (01093.HK) Short selling $32.71M; Ratio 13.647% closed at $10.68, up 5.7%
HANSOH PHARMA (03692.HK) Short selling $17.19M; Ratio 13.699% closed at $28.4, up 5.6%
SMIC (00981.HK) Short selling $133.83M; Ratio 7.273% closed at $26.4, up 5%
WUXI BIO (02269.HK) Short selling $387.87M; Ratio 10.464% closed at $124.6, up 4.6%
HANG LUNG PPT (00101.HK) Short selling $12.03M; Ratio 20.489% closed at $19.76, up 4%
KUAISHOU-W (01024.HK) Short selling $397.82M; Ratio 40.389% closed at $118.9, up 3.7%
WH GROUP (00288.HK) Short selling $14.56M; Ratio 12.111% closed at $6.21, up 3.3%
XIAOMI (01810.HK) Short selling $427.39M; Ratio 19.484% closed at $25.9, up 3.2%
BUD APAC (01876.HK)  Short selling $146.74M; Ratio 44.054%   closed at $22.3, down 3%

HSMI & HSSI Constituents on Move:
SCHOLAR EDU (01769.HK)  Short selling $269.34K; Ratio 0.909%   closed at $2.21, up 43.5%
XD INC (02400.HK) Short selling $95.56M; Ratio 21.547% closed at $52.55, up 26.9%
KOOLEARN (01797.HK) Short selling $3.89M; Ratio 2.644% closed at $5, up 19.9%
SOHO CHINA (00410.HK) Short selling $6.53M; Ratio 1.875% closed at $3.02, down 19.9%
ZAI LAB (09688.HK) Short selling $12.97M; Ratio 28.087% closed at $1,194, up 19.4%
AK MEDICAL (01789.HK) Short selling $12.88M; Ratio 17.082% closed at $9.93, up 15.3%
IDREAMSKY (01119.HK) Short selling $4.08M; Ratio 2.597% closed at $6.3, up 14.5%
SANY INT'L (00631.HK) Short selling $11.46M; Ratio 20.257% closed at $8.67, up 14.5%
KINGSOFT (03888.HK) Short selling $44.19M; Ratio 10.854% closed at $36.35, up 14.3%
TIANLI EDU (01773.HK) Short selling $698.32K; Ratio 1.798% closed at $2.19, up 14.1%
HUAZHU-S-NEW (01179.HK) Short selling $2.59M; Ratio 9.228% closed at $36, up 13%
WEIMOB INC (02013.HK) Short selling $34.97M; Ratio 4.964% closed at $10.56, up 12.9%
SIMCERE PHARMA (02096.HK) closed at $10.64, up 12.6%
REMEGEN-B (09995.HK) Short selling $4.54M; Ratio 8.178% closed at $101.4, up 12.5%
VESYNC (02148.HK) Short selling $436.31K; Ratio 4.658% closed at $10.46, up 12.5%
CHINA KEPEI (01890.HK) Short selling $693.26K; Ratio 7.248% closed at $4.34, up 12.1%
EVEREST MED-B (01952.HK) Short selling $1.09M; Ratio 14.769% closed at $60.55, up 11.5%
NH HEALTH (06606.HK) closed at $68.2, up 10.9%
GREATWALL MOTOR (02333.HK) Short selling $277.42M; Ratio 20.857% closed at $34.95, up 10.8%
FOSUN PHARMA (02196.HK) Short selling $15.80M; Ratio 3.937% closed at $66.75, up 10.7%
NEW HIGHER EDU (02001.HK) Short selling $818.13K; Ratio 4.232% closed at $4, up 10.5%
JXR (01951.HK) Short selling $18.88M; Ratio 3.393% closed at $15.18, up 10.2%
FU SHOU YUAN (01448.HK) Short selling $525.89K; Ratio 0.784% closed at $7.49, up 10.1%
CR MEDICAL (01515.HK) Short selling $2.45M; Ratio 9.245% closed at $7.32, up 10.1%
CHINA RES POWER (00836.HK)  Short selling $20.71M; Ratio 13.927%   closed at $12.2, up 3.4%, hitting new high


HANG LUNG PPT (00101.HK)'s chairman Ronnie Chan expressed during the interim result press conference that he holds a relatively neutral take on the outlook of the residential property market in Hong Kong and believes that it is unlikely for home prices to spike rapidly.   Chan added that the somewhat castrated housing market has seen fundamental change recently and more lands are expected to be released over the next 10 years, which would result in a milder growth pace of property prices.

PING AN (02318.HK) announced that the JV company between PING AN and Shionogi from Japan -- Ping An-Shionogi -- has officially commenced operation in Shanghai. Ping An-Shionogi will provide all-rounded and personalized healthcare management solutions, including exercise recommendations, prescriptions on over-the counter drugs, vaccines and new drugs, across different treatment stages, such as disease prevention, diagnosis, medical prescription and follow-up visits, etc.

CHINA LIT (00772.HK) has launched a collaborative writing event with TENCENT (00700.HK)'s Honor of Kings. In the first stage, 25 renowned China Literature writers will be invited to create a story based on the blockbuster game's worldview and hero character designs.

AlipayHK expressed that the government is scheduled to disburse the first installment of the consumption vouchers worth $2,000 on the coming Sunday and the users who chose AlipayHK as the collection method would have the installment deposited into their consumption voucher accounts automatically.

HUTCHMED (00013.HK)  CFO Johnny Cheng pictured that the company will attain brisk growth in overseas business in the coming 2-3 years, which will entail new income sources to compensate partial R&D expenditure and reduce the company's financial demand.  In view of abundant cash in hand, the CEO Christian Hogg said the company is paying heed to and considering numerous acquisition opportunities, hoping the targets could have synergies with the company's drug mix, and prices be reasonable.

China's fintech sector still faces issues of imbalanced and insufficient development, said Li Xingfeng, deputy director of science and technology department at the People’s Bank of China. Li added the government needs to strengthen the oversight on fintech innovations as well as the application of technologies, while defending the ethical boundary of the financial sector in respect of technological innovation.

TENCENT (00700.HK) is scheduled to complete the works of integrating the majority of Sogou's businesses into TENCENT's platforms and platform and content group (PCG) by early August at the earliest, reported Chinese media.  The current CEO for Sogou, Wang Xiaochuan, might step down from the position once Sogou has completed delisting, the report added.

HANG LUNG GROUP (00010.HK) announced the results for the six months ended June 30, 2021. Net profit was $1.508 billion, against the loss of $1.595 million from a year ago.  EPS was $1.11. An interim dividend of $0.21 per share was declared.

HANG LUNG PPT (00101.HK) announced the results for the six months ended June 30, 2021. The Company reported a net profit of HK$2.235 billion, against a net loss of HK$2.537 billion in the same period last year.  Earnings per share hit HK$0.5.  The Company has declared an interim dividend of HK$0.18 per share for 2021, against HK$0.17 per share in the same period last year. Underlying net profit increased by 10.61% to HK$2.2 billion. Underlying earnings per share hit HK$0.49.

HSBC announced that it maintained the best lending rate at 5% unchanged. Meanwhile, the bank's HKD saving deposit rates were also intact.’

China's smartphone shipments plunged by 10% YoY to 79 million units in the second quarter, according to IDC's report.  By brands, XIAOMI-W (01810.HK)'s shipment ballooned 47% YoY to 13.4 million units. The firm's market share rose to 17% from 10.4% a year ago, taking the third spot.

Suning.com (002024.SZ)  will unveil the voting results at a shareholders' meeting this afternoon, meaning the Alibaba group of companies may start completely taking over Suning.com, reported sfccn.com.  Alibaba-nominated Huang Mingduan will join the Board of Suning.com and serve as the new Chairman if everything goes well, according to insiders.

BIDU-SW (09888.HK) announced its strategy for the development of its gaming business in Shanghai yesterday and released its first batch of products, expecting to launch 23 new games in the future.  BIDU-SW intends to adopt the dual approach of developing leisure and hardcore games at the same time, targeting both Chinese and overseas markets.

China will continue to allow eligible Chinese companies to list in the U.S., as CNBC cited the remarks of China Securities Regulatory Commission (CSRC) Vice Chairman Fang Xinghai in a video meeting with key investment banks Wednesday.  Cross-border stock listings can also be conducted with the variable interest entity (VIE) structure, sources quoted the regulators. The VIE is a legal structure allowing international investors to obtain shares of Chinese companies in the U.S.. Yet, the VIE structure must be adjusted if there is any national security concern, said the sources.

The volume of the first batch of stock up for iPhone 13 this year is expected to be no lower than the preliminary stock up level of the iPhone 12 series, reported Taiwanese media, citing supply chain sources. Apple is expected to determine whether to add additional order from November to December, based on the results of the first round of sales, the report added.  The 5G mmWave models are predicted to expand in penetration rate with the scale of the first batch of iPhone 13 5G mmWave models forecast to reach 60 million units, remarked people from the industry.

China's smartphone shipments plunged by 17% to 74.9 million units in the second quarter of 2021, as the number of vendors shipping over 10 million units had declined from five to three, reported Canalys.  XIAOMI-W (01810.HK) replaced Huawei to take the third spot in the market, with 12.6 million units of shipment and market share rising from 15% to 17% on a quarterly basis.

MIDLAND HOLDING (01200.HK)  announced to issue 1H bonus to the staff of its central professional department and frontline administration staff. The amount of the bonus will be determined according to individuals' work performance, with the average amount at 1.45 months of salary and the maximum at 2.15 months of salary.  It forecast the upward momentum of the housing market to continue in 2H, expecting the full-year register volume for first-hand private properties and second-hand homes to reach over 85,000 and the register value to notch a historical new high at over $800 billion, expressed Angela Wong, Deputy Chairman of the group.

Financial Secretary Paul Chan said pursuant to the power conferred on him under the Companies Ordinance, he appointed Clement Chan as the Inspector to investigate into the affairs of NEXT DIGITAL (00282.HK) .  In view of the above, Paul Chan considered it in the public interest to invoke the relevant statutory power to appoint an Inspector to investigate into the affairs of the company. As a leading international financial and commercial centre, Hong Kong attaches paramount importance to upholding the integrity and reputation of its corporate sector and the corporate governance regime, which is the hard-earned result of the continuous efforts of the Government, regulators and the business community.

Financial Secretary Paul Chan responded to questions regarding the recent tumble of the Hong Kong stock market by stating that, despite differing in scale, the markets of neighboring regions were also experiencing certain extent of correction and that the correction in Hong Kong was mainly triggered by certain policy adjustments in the outer markets, plus geopolitical factors.
Chan remarked that Hong Kong financial market has experienced substantial volatility over the past years and that the most crucial factor during the process is that the market is functioning in an orderly manner.

Macao Daily cited market sources that Grand Lisboa Palace, the first Cotai integrated project by SJM Resorts, will open at end-July. 
The preparation for Grand Lisboa Palace is in full swing as SJM HOLDINGS (00880.HK) strives to open the first phase of the resort on 30 July 2021, says Chairman Daisy Ho. On another note, the Macau government has granted 150 gaming tables to Grand Lisboa Palace so far.

YUM CHINA-S (09987.HK) announced interim result ended June 2021.
The net profit amounted to US$411 million, up 111.9% yearly.  EPS  was US$0.98. An interim dividend of US12 cents was declared. The Board of Directors has approved the resumption of share repurchases.

BUD APAC (01876.HK) announced interim result ended June 2021. The revenue rose 35% year on year to US$3.477 billion. The net profit amounted to US$503 million, up 171.9%  EPS was US3.8 cents. No interim dividend was declared.

The Securities and Futures Commission (SFC) notes the appointment by the Financial Secretary under the Companies Ordinance of an inspector to investigate the affairs of NEXT DIGITAL (00282.HK) . 
The inspector appointed by the Financial Secretary will carry out his work under specific powers set out in the Companies Ordinance. The SFC will coordinate closely with the inspector as it continues to carry out its own enquires under the powers exercisable by it under the Securities and Futures Ordinance.

Xinhua News Agency, in its article, mentioned about the market worry on the recent stock fluctuation in mainland China. In conclusion, after deep analysis on current market concerns, the fundamentals of China's consistently prosperous economy remain intact, the pace of the nation's reform opening is still steadfast, and the foundation of the capital market development stays solid.
Regulatory policies addressing issues in either platform economy or after-school training institutions, the article said, are meant to foster the healthy growth of the industries, safeguard the network data and guarantee the people's livelihood. Rather than constraining or suppressing the related segments, such measures are salubrious to the long-term social economic growth.

CEC INT'L HOLD (00759.HK)  announced the results for the year ended 30 April 2021. Net profit grew 162% yearly to HK$32.32 million. 
EPS equaled HK4.85 cents. A final dividend of HK0.9 cents was declared, against HK0.5 cents in the same period last year.

DONGFENG GROUP (00489.HK) announced that the company expects to record an increase in net profit attributable to equity holders of the company of more than 130% for the six months ended 30 June 2021, as compared with that for the same period in 2020. The company believes that the profit increase is mainly due to the increase in sales volume  during the first half of 2021.

CITIC SEC (06030.HK) announced the preliminary financial data for the first half of 2021
in accordance with the China Accounting Standards for Business Enterprises, with its operating revenue rising 41% YoY to RMB37.721 billion. The net profit amounted RMB12.198 billion, up 36.7%. The EPS  was RMB94 cents.

HUTCHMED (00013.HK)  reported its financial results for the six months ended June 30, 2021 
with the total revenues increased 47.4% YoY to USD157 million. The net loss for the six months ended June 30, 2021 was USD102 million compared to USD49.69 million in the six months ended June 30, 2020. As a result, the net loss per share was US14 cents. No interim dividend was declared.