Zhitong Hong Kong stocks have known for a long time | The State Administration issued “Opinions on Combating Tobacco Related Illegal Activities” overnight, and the three major US stock indexes collectively rose

[Today's headlines]

The “Nature” website published two studies confirming the efficacy and safety of new hypoglycemic drugs

The British “Nature” magazine website recently published two papers from Chinese researchers, verifying the efficacy and safety of a new hypoglycemic drug jointly developed by Chinese and American pharmaceutical companies as monotherapy and treatment with combined oral hypoglycemic agents. These are two phase III clinical studies targeting Chinese type 2 diabetics. Relevant results have shown that mast peptides are superior to placebo or duracopeptide in blood sugar control and weight loss, and can also improve many cardiovascular metabolism, liver, and kidney-related indicators.

According to reports, Maxidol is a glucagon/glucagon-like peptide-1 dual receptor agonist jointly promoted by China's Cinda (01801) Biopharmaceutical Group and Eli Lilly Pharmaceuticals of the United States. Qian Lei, chief R&D officer of Cinda Biopharmaceutical Group Integrated Pipeline, who participated in the relevant research, said that the above research results provided high-quality evidence-based medical evidence for overweight, obese, and diabetics, and also showed China's scientific research capabilities in related fields. Diabetes is closely related to obesity. Being overweight can increase insulin resistance and is one of the main factors leading to the occurrence, progression, and complications of type 2 diabetes. Related complications can affect blood vessels, eyes, kidneys, feet, etc.

[General outlook]

Overnight, the three major US stock indexes collectively rose

Overnight, the US stock Dow Jones Industrial Average rose 65.88 points, or 0.14%, to close at 47951.85 points; the S&P 500 stock index rose 53.33 points to close at 6774.76 points, or 0.79%; and the Nasdaq Composite Index rose 313.04 points, to close at 23006.36 points, or 1.38%. Large technology stocks generally rose, Tesla rose more than 3%, and Amazon and Meta rose more than 2%. Storage concepts, semiconductor equipment and materials rose the most, with Micron Technology up more than 10% and SanDisk up more than 6%.

Most popular Chinese securities rose, with Zhihu up more than 3%, Xiaopeng Motors up more than 2%, and the Hang Seng ADR rising. On a proportional basis, it closed at 25544.89 points, up 46.76 or 0.18% from the Hong Kong closing market.

[Hot Topics Preview]

The State Office issued “Opinions on Combating Tobacco-Related Illegal Activities Throughout the Chain”

The General Office of the State Council recently issued “Opinions on Combating Illegal Tobacco Related Activities” (hereinafter referred to as “Opinions”), which proposes a series of targeted policy measures to address outstanding issues such as tobacco counterfeiting, counterfeiting, and smuggling, continuously purify the tobacco market environment, and effectively safeguard national interests and consumer rights. The “Opinion” calls for concerted efforts to crack down on counterfeit tobacco smuggling into the country. Strengthen law enforcement cooperation with relevant countries, crack down on counterfeiting Chinese tobacco brands abroad, and resolutely investigate and punish illegal tobacco entering and passing through our country. The “Opinion” calls for high-pressure crackdown on illegal smoking-related activities in the country. It involves the Hong Kong stock China Tobacco Hong Kong (06055).

CEO of BHP Billiton: The tight supply of copper is difficult to resolve, and the era of high prices is likely to continue for several years

BHP Billiton CEO Mike Henry emphasized in an interview that copper is an “essential” metal that not only supports the daily operation of the economy, but is also a key component of decarbonization and digitization technology. Henry said, “The annual market size of copper is between 300 billion and 400 billion US dollars; the rare earth that people often hear about is only about 20 billion US dollars. So it's a huge market.” Like rare earth minerals, copper is facing pressure from surging demand and supply is unable to keep up. Henry pointed out that in the context of “strong demand growth,” the copper bull market is likely to continue for the next few years. “We expect demand for copper to grow 70% between now and 2050, but supply is becoming more difficult to release. There are fewer and fewer new mines, and the mines discovered are often smaller, lower grade, and located in harsher regions, making it difficult to develop these mines quickly.”

Xinte Energy (01799): The subsidiary Inner Mongolia Energy plans to transfer 79.92% of the property share of the partnership

Xinte Energy announced that in order to facilitate the establishment of the first special asset support plan, a partnership transfer agreement was concluded on December 18, 2025. Based on this, Inner Mongolia Energy transferred 79.92% of the partnership's property share to the manager. The transfer of the target share does not require any additional cost other than the amount due to be paid in order to actually pay the partnership's capital contribution. The transfer price is determined by Inner Mongolia Energy and the manager after consulting the capital amounts pledged and paid by Inner Mongolia Energy in the partnership according to the principle of fairness.

Meituan (03690) released and open-sourced SOTA-level virtual human video generation model Longcat-Video-Avatar

The Meituan LongCat team officially released and open-sourced a SOTA-level virtual human video generation model—Longcat-Video-Avatar. The model is based on the LongCat-Video base, continuing the core design of “one model supports multi-tasking”. It natively supports core functions such as audio-text-to-video, audio-text-image-to-video, and video sequencing. At the same time, the underlying architecture has been fully upgraded to achieve breakthroughs in the three dimensions of motion realism, long video stability, and identity consistency.

IPO: Zhihui Mining (02546) closed up 126.16% in the dark market and earned HK$5,690 in one hand

On Thursday, December 18, Zhihui Mining closed up more than 126.16%. Excluding handling fees, each lot earned HK$5,690. The company plans to sell 122 million H shares globally, with a sale price of HK$4.51 per share and 1,000 shares per lot. It is expected to start trading on the Stock Exchange on December 19 (Friday). Zhihui Mining is a mining company focused on zinc, lead and copper prospecting, mining, and concentrate production and sales in Tibet, China. According to data from Shanghai Nonferrous Metals Network, based on the average annual output of zinc concentrate, lead concentrate and copper concentrate in Tibet in 2024, the group ranked fifth, fourth and fifth respectively.

Evergrande Auto (00708): The registered shareholder of the subsidiary changed to Guangzhou Juli Stock and continued suspension of trading

Evergrande Motor announced on the Hong Kong Stock Exchange that on November 22, 2025, the company learned news reports that the registered shareholders of the relevant subsidiary companies had changed from members of the Group to Guangzhou Juli Modern Industrial Development Co., Ltd. After an inquiry by the Company, the manager confirmed that according to the bankruptcy and restructuring plan approved by the relevant local people's court, the Group's shares in the relevant subsidiary were cancelled and all shares of the relevant subsidiary companies were registered under the name of Guangzhou Juli on November 18, 2025. Since the relevant shareholder changes in the plan and related subsidiaries are the result of such procedures, the Group has not charged any cash costs. Stock trading will continue to be suspended until further notice.

[Individual stock prices are clear]

Weisheng Holdings (03393): Wholly-owned subsidiary Wasion da Amazonia won the bid for the CPFL project contract amount exceeding RMB 80 million

Weisheng Holdings announced that in December 2025, Wasion da Amazonia Industria de Instrumentos Electronicos S.A., a wholly-owned subsidiary established in Brazil, successfully won the bid for the CPFL project with a contract amount exceeding RMB 80 million. CPFL is a leading enterprise in the Brazilian power industry. As the second-largest comprehensive power business group in Brazil, it serves more than 10 million users. Its business covers the entire industry chain of power generation, transmission, distribution and commercialization of electricity, and is an important comprehensive energy solution provider in the region.

According to the company's latest guidelines, its artificial intelligence data center (AIDC) revenue will double from the expected 1 billion yuan in 2025 to 2 billion yuan in 26, and further increase to 4 billion yuan in '27. The company also expects that new local and overseas AIDC orders will increase by 50% and 92.3% year on year, respectively, to 1.5 billion yuan and 2.5 billion yuan next year.

Citigroup released a research report saying that based on strong new orders related to AIDC and higher profit forecasts, it raised the net profit forecast for Weisheng Holdings (03393) from 2025 to 27 by 1% to 5%, and raised the target price from HK$15.5 to HK$21. The rating is “buy”. It believes that the stock will most likely be included in the interconnection mechanism in March next year. Citi began a 90-day positive catalytic observation of the company as early as November 25.