Zhitong Hong Kong stocks knew for a long time | The Federal Reserve cut interest rates by 25 basis points as scheduled, but internal differences intensified, and the Democratic Republic of the Congo (DRC) set new conditions for cobalt exports

[Today's headlines]

The Federal Reserve cut interest rates by 25 basis points as scheduled, but internal differences intensified

The Federal Reserve announced the third consecutive rate cut this year, but it still maintains the forecast of cutting interest rates only once in 2026, indicating that decision makers are increasingly divided over future policy paths. The Federal Open Market Committee (FOMC) approved the reduction of the federal funds rate by 25 basis points to the 3.5%-3.75% range with a 9-3 vote and fine-tuned the wording in the statement, implying that there is greater uncertainty about when to cut interest rates in the future.

Meanwhile, the Federal Reserve announced a key liquidity management measure. Since December 12, 40 billion US dollars of treasury notes have been purchased every month to rebuild the banking system's reserves, which declined sharply during the downsizing period. The statement pointed out that as balance sheet (QT) reductions have progressed previously, reserves have fallen to the “lower limit of an adequate level”, so it is necessary to “continue to maintain an adequate supply of reserves” in the future by purchasing short-term US bonds.

[General outlook]

International silver prices continue to reach record highs

Overnight, the US stock Dow Jones Industrial Average rose 497.46 points to close at 48057.75 points, or 1.05%; the S&P 500 stock index rose 46.17 points to close at 6886.68 points, or 0.67%; and the Nasdaq Composite rose 77.67 points, to close at 23654.16 points, or 0.33%. Most of the big tech stocks rose; Qualcomm rose more than 3%, while Tesla, Amazon, Broadcom, and Google rose more than 1%. Energy storage concept stocks and infrastructure stocks had the highest gains. GE Vernova rose more than 15% to a record high, and Caterpillar rose more than 3%. Many storage concept stocks reached record highs. Western Digital rose more than 7%, Micron Technology rose more than 4%, and Seagate Technology rose more than 5%.

Most popular Chinese securities rose, with Artes Solar up 5.64% and Alibaba up nearly 2%. The Hang Seng Index ADR rose. On a proportional basis, it closed at 25680.34 points, up 139.56 or 0.55% from the Hong Kong closing market.

International silver prices continued to reach record highs. Spot silver rose 1.88% to 61.81 US dollars/ounce. COMEX silver futures rose 2.24% to $62.200/oz.

[Hot Topics Preview]

Will it be the first cobalt export company under the new Congolese quota system? Glencore responds: No comment

On December 10, Glencore responded to Interface News with no comment in response to a recent Reuters exclusive report that “Glencore has become the first company to export cobalt under the new Congolese quota system.” Earlier, government and trade sources were quoted as saying that Glencore was approved this week to ship the first batch of pilot cobalt goods after paying a 10% royalty, becoming the first export company under the new quota system. In addition, the above report also mentioned that the Tenke Fungurume mine, a subsidiary of Luoyang Molybdenum, has also begun the export preparation process. In response to this incident, Interface News contacted Luoyang Molybdenum Industry, and no response had been received as of press release.

Samsung SDI signs major lithium iron phosphate energy storage order

Samsung SDI released news that its US subsidiary has signed an order for lithium iron phosphate energy storage batteries with an American customer. The contract amount exceeds 2 trillion won, about 1.36 billion US dollars, equivalent to 9.62 billion yuan. The order delivery period will continue for three years from 2027. The customer that placed the order with SDI this time is an American energy infrastructure development and operation company, but the name of the customer was not disclosed. The lithium iron phosphate cells supplied by Samsung SDI will be installed in the SBB 2.0 battery energy storage system solution. This is a 20-foot containerized energy storage system with integrated batteries and fire safety equipment. It is worth noting that SBB 2.0 is Samsung SDI's first energy storage system using square lithium iron phosphate batteries. This is also an important sign that Korean battery companies are switching from ternary batteries to lithium iron phosphate batteries. It involves the energy storage+lithium battery sector of Hong Kong stocks.

The Democratic Republic of the Congo (DRC) sets new conditions for cobalt exports

According to market news, the Democratic Republic of the Congo recently issued stricter cobalt export control measures. According to a government notice reviewed by Reuters, the Ministry of Mining and the Ministry of Finance have jointly introduced a new set of compliance procedures, which put forward new requirements for the export of cobalt products, such as mandatory quota checks, pre-payment of royalties, and joint inspections by multiple agencies. This policy is expected to complicate the Democratic Republic of the Congo's recently launched export quota system, and may affect the pace of global cobalt supply in the short term. The cobalt resources sector involves the Hong Kong stock Luoyang Molybdenum Industry (03993) and Zhongwei New Materials (02579).

Delivery cycle extended to 45 days Official Quark AI Glasses Customer Service: Urgent increase in production and preparation

The Quark AI Glasses S1 is temporarily out of stock on mainstream e-commerce platforms such as Tmall, Douyin, and JD, and the delivery cycle has been extended to 45 days. In response, the official customer service of the Quark AI Glasses flagship store said that due to current limited production capacity, a limited number of items will be sold every day at 10 a.m., and production is currently being urgently increased and stocked. According to information, the current order volume for Quark AI glasses has overdrawn production capacity for the next 45 days.

Hainan Airport: Overseas investment procedures have been completed, and the transaction to acquire a controlling interest in Meilan Airport will proceed

Hainan Airport announced that the company previously considered and approved the acquisition of 238 million domestic shares of Meilan Airport held by the related party Meilan Limited. The transaction price was 2,339 million yuan, equivalent to 9.85 yuan per share. Once the share transfer is completed, the company will make a comprehensive takeover offer for all issued domestic shares and all issued H shares from its subsidiaries. Recently, the transaction has completed the filing and registration procedures for foreign direct investment, and the two parties have confirmed that there have been no significant adverse changes in the situation of the target company. Up to now, all the prerequisites for the transaction to take effect have been met, and the company will proceed according to plan.

Lansi Technology (06613): Plans to acquire 100% of the shares of liquid cooling and server cabinet company Pei Meigao International to open up a new AI computing power infrastructure circuit

Lansi Technology announced that on December 10, 2025, the company signed a share acquisition agreement with Lu Songshou LEU, SONG-SHOW to purchase PMG International Co., which it owns in cash or other legal means. , LTD. 100% equity. The specific transaction amount, transaction plan, etc. will be further negotiated by the parties concerned based on due diligence, audit and evaluation results, etc., and determined by the parties to the transaction in a formal acquisition agreement.

Shunyu Optical Technology (02382)'s vehicle lens shipments in November were 12.634 million pieces, up 69.4% year-on-year

According to the Zhitong Finance App, Shunyu Optical Technology (02382) announced that in November 2025, shipments of mobile phone lenses were about 119 million pieces, a decrease of 2.3% month-on-month and an increase of 7.5% year-on-year; vehicle lens shipments were 126.34 million pieces, up 3.4% month-on-month and 69.4% year-on-year. Mobile phone camera module shipments were 41.49 million pieces, down 7.8% month-on-month and up 10.9% year-on-year.

CSPC Group (01093): Recombinant all-human anti-ACTRIIA/IIB monoclonal antibody (JMT206) approved for clinical trial in the US

Zhitong Finance App News, Shiyao Group (01093) announced that the recombinant all-human anti-ActriIIA/IIb monoclonal antibody (JMT206) (this product) developed by the Group has been approved by the US Food and Drug Administration (FDA) and can conduct clinical trials in the US. The product was also approved by the State Drug Administration of the People's Republic of China to conduct clinical trials in China in November 2025.

Shanghai Pharmaceutical (02607): Application for marketing licensing of stojilene malate tablets (SPH3127 tablets) approved

Zhitong Financial App News, Shanghai Pharmaceutical (02607) issued an announcement. Recently, Shanghai Shangyao Xinyi Pharmaceutical Co., Ltd. (Shangyao Xinyi), a subsidiary of the company, received the “Drug Registration Certificate” (Drug Approval Number: Sinopharm Approval Number H20250067) issued by the State Drug Administration, and the drug marketing license application for stojilene malate tablets (i.e. SPH3127 tablets) submitted by it was approved by the State Drug Administration.

Goli Pharmaceutical-B (01672): The marketing application for a new drug of its kind, dinifastat (ASC40) to treat acne, was accepted by the State Drug Administration

Zhitong Finance App News, Goli Pharmaceutical-B (01672) issued an announcement. The board of directors announced that the first-in-class (first-in-class) new drug marketing application (NDA) for treating severe acne vulgaris (ASC40), the first-in-class (FASN) inhibitor, once a day has been accepted by China's State Drug Administration.

[Individual stock prices are clear]

Sinotruk (03808): Benefiting from a sharp increase in domestic heavy truck sales

According to preliminary data obtained by the First Commercial Vehicle Network, in November, China's heavy truck market sold a total of about 100,000 vehicles, a sharp increase of about 46% over the previous year. From January to November of this year, the cumulative sales volume in China's heavy truck market reached 1.03 million units, an increase of about 26% over the previous year; the total sales volume of 1.1 million vehicles is already within easy reach.

Management said that Sinotruk's annual sales target of 300,000 vehicles is progressing smoothly. The company is steadily advancing its 2025 sales and profit margin targets, and stated that it will maintain a prudent capital expenditure plan for 2025-2027, with no more than 2 billion yuan per year, focusing on overseas production base construction (such as Kazakhstan, Brazil, Indonesia). At the same time, it is expected that the 2025-2027 dividend ratio will not be less than 55%.

Based on updated sales and gross margin assumptions, Bank of America Securities raised Sinotruk's 2025-27 revenue forecasts by 5%, 4%, and 4%, respectively, and raised the gross margin forecast for 2026 and 27 by 0.5 percentage points each in response to the increase in overseas sales share. The earnings forecast per share for 2025 to 27 was also raised by 4%, 10%, and 10%.