Zhitong Hong Kong stocks have known for a long time | International gold and silver continues to reach new highs. Next year, Nvidia (NVDA.US) GB300 shipments can reach 55,000 units
[Today's headlines]
The Ministry of Finance and two other departments issued opinions to implement the “Notice of the General Office of the State Council on Implementing Domestic Product Standards and Related Policies in Government Procurement”
The “Notice” proposes to accurately define the production of products within China. The “Notice” makes it clear that domestic products should be produced within China, that is, change the properties from raw materials and components to products within the customs territory of the People's Republic of China. Judging from the specific situation, products produced in special customs supervision areas such as domestic free trade zones and comprehensive free trade zones are products manufactured within China; medical device products that have obtained an approved medical device registration certificate issued by the drug supervision and administration department are products manufactured in China; other products are judged whether they are produced in China based on the actual situation.
[General outlook]
International gold and silver continue to reach new highs
Overnight, the US stock Dow Jones Industrial Average rose 227.79 points, or 0.47%, to close at 48362.68 points; the S&P 500 stock index rose 43.99 points to close at 6878.49 points, or 0.64%; and the Nasdaq Composite Index rose 121.21 points to close at 23428.83 points, or 0.52%. Major technology stocks had mixed ups and downs. Micron Technology rose more than 4% to a record high, Tesla and Nvidia rose more than 1%, and US commercial aerospace concept stocks surged once again. Rocket Labs closed up 10%, and its stock price rose for three consecutive days, with a cumulative increase of 44%, the best performance since 2021.
China Securities rose, with Bilibili up 1.57%, JD up nearly 1%, Artes up 10.62%, and Tims China up 7.01%; Hang Seng ADR rose, on a proportional basis, to close at 25849.55 points, up 47.78 or 0.19% from Hong Kong's closing.
International gold and silver continued to reach new highs. COMEX gold futures rose 2.13% to $4480.6 per ounce; COMEX silver futures rose 2.37% to $69.09 per ounce.
[Hot Topics Preview]
“Internet Drug and Medical Device Information Service Filing Administration Regulations” released
On December 22, the State Drug Administration issued the “Administrative Provisions on the Filing of Internet Drug and Medical Device Information Services”. The “Regulations” came into effect on the date of promulgation. The “Regulations” clarify matters relating to the content, processing conditions, work procedures, required materials, etc. of the filing of Internet drug and medical device information services. The promulgation of the “Regulations” will further regulate the filing management of Internet drug and medical device information services, and effectively guide all regions to standardize and carry out filing work. It involves a Hong Kong stock pharmaceutical e-commerce platform.
Chen Maobo: Hong Kong has huge potential to develop the commodity market
The Commodity Strategy Committee, chaired by the Financial Secretary of the Hong Kong Special Administrative Region Government, Chan Mao-po, held its first meeting on the 22nd. Chen Maobo said that Hong Kong has huge potential in developing the commodity market. It can serve and contribute to the development of the country and the world in this field, and at the same time create more diverse development opportunities for itself. Chen Maobo said that under multiple major trends such as geopolitics, technological change, and green transformation, the global supply and demand situation for commodities such as precious metals, non-ferrous metals, traditional energy, and new energy related materials is undergoing profound changes. China is a major consumer of commodities and one of the import and export markets, and is promoting high-quality development at full speed, firmly moving towards the goal of dual carbon, and increasing investment in green industries; these developments all highlight the country's advantages in building commodity resource allocation hubs.
The Hong Kong Gold Central Clearing System is scheduled to commence trial operation in 2026
According to a press release from the Hong Kong Government, the Secretary for Treasury, Hui Ching-yu, said that the Hong Kong Gold Central Clearing System, managed by a company wholly owned by the government, is scheduled to be put into trial operation within 2026. The Government will set up a preparatory group to involve a wide range of local and international industry stakeholders, promote industry collaboration, and facilitate in-depth discussions on the details of the composition, membership and financial arrangements of industry organizations operated independently by the industry. The Hong Kong Airport Authority has completed the first phase of the expansion of the Airport Precious Metals Depot, with a capacity of 200 tonnes, and is actively implementing plans to further expand the capacity to 1,000 tonnes.
Nvidia GB300 will ship 55,000 units next year, and Vera Rubin200 is expected to be shipped in the fourth quarter of next year
According to the latest market forecast, Nvidia's GB300 AI server cabinet shipments are expected to reach 55,000 units next year, an increase of 129% over the previous year, mainly driven by giants such as Microsoft and Meta. What is more noteworthy is that shipments of the next-generation Vera Rubin 200 platform are expected to begin in the fourth quarter of next year, bringing continuous growth impetus to supply chain manufacturers such as Hon Hai and Guangda, and orders from some manufacturers are already visible until 2027. It involves the Hong Kong stock ancillary equipment sector. These include Hongteng Precision (06088), Changfei Optical Cable (06869), Cambridge Technology (06166), Huiju Technology (01729), Lansi Technology (06613), and Jiali International (01050).
Baiyunshan (00874) subsidiary plans to participate in the establishment of Guangzhou Pharmaceutical Guangkai Fund and Guangzhou Pharmaceutical Liwan Fund
Zhitong Finance App News, Baiyunshan (00874) announced that on December 22, 2025, the board of directors approved the signing of partnership agreements 1 between Guangzhou Pharmaceutical Phase II Fund, a subsidiary of the company, and Guangzhou Pharmaceutical Capital and Guangkai Fund. According to this, Guangzhou Pharmaceutical Phase II Fund, Guangzhou Pharmaceutical Capital, and Guangkai Fund invested RMB 97.50 million, RMB 2.50 million, and RMB 100 million respectively to participate in the establishment of the Guangzhou Pharmaceutical Guangkai Fund.
Dongjiang Environmental Protection (00895) plans to invest no more than 12 million yuan to subscribe for no more than 4% of the shares in Personalized Intelligence
Zhitong Finance App News, Dongjiang Environmental Protection (00895) announced that in order to expand the company's business areas and seize the development opportunities of the artificial intelligence industry, the company plans to participate in the capital increase and share expansion of Guangdong Fushen Intelligent Technology Co., Ltd. (hereinafter referred to as “Goshen Intelligence”) through public delisting, and plans to invest no more than RMB 12 million to subscribe to Geshan Intelligence's shares of no more than 4% (the specific amount of capital increase and shareholding ratio is determined based on the final delisting results).
China General Nuclear Power (01816): Huizhou Unit 1 is expected to be put into operation in the first half of 2026
China General Nuclear Power announced that Huizhou Units 1 and 2 of the company's subsidiary CGN Huizhou Nuclear Power Co., Ltd. used Hualong 1 technology and began construction on December 26, 2019 and October 15, 2020, respectively. The original commissioning period was the second half of 2025 and the first half of 2026. After careful consideration, the company decided to adjust the estimated operating time of Huizhou Unit 1 and Unit 2 to the first half of 2026 and the second half of 2026, respectively. As of the announcement date, both units are in the commissioning phase.
CIMC Enric (03899) signed a strategic cooperation agreement with Datang and Hainan to cooperate to implement a green methanol project in Danzhou
On December 22, CIMC Enric announced that its subsidiary CIMC Green Energy Low Carbon Technology Co., Ltd. and its strategic partner Datang Offshore Energy Development Co., Ltd., a subsidiary of Datang Hainan Company, recently signed a memorandum of cooperation with the Yangpu Economic Development Zone Management Committee of the Danzhou Municipal Government at the Hainan Offshore Wind Power Industry Chain Conference. According to the agreement, with the support of the Yangpu Management Committee, CIMC Enric and Datang Hainan Company will research and implement a demonstration project for green methanol consumption near new energy sources in Danzhou, with a design capacity of 100,000 to 200,000 tons/year; in addition, the three parties will also promote industrialization cooperation for green methanol in the Hainan region, covering various aspects of production, certification, trade, and filling, to jointly explore high-value utilization of biomass and supply chain construction.
Goodwill B (02256): Heyu Pharmaceuticals' CSF-1R inhibitor Bejemer® was approved by the Chinese NMPA
Zhitong Finance App News, Heyu-B (02256) announced that on December 22, 2025, Shanghai Heyu Biomedical Technology Co., Ltd. (“NMPA”), a subsidiary of the company, announced that the China National Drug Administration (“NMPA”) has approved Bejiema® (pimitinib hydrochloride capsules) for adult patients with symptomatic tendon sheath giant cell tumors (“TGCT”) whose surgical removal may cause functional limitations or serious complications. After approval, Merck will promote the product to benefit TGCT patients in China as soon as possible.
Sanhua Intelligent Control (02050) Fa Yingxi expects net profit to return to mother for the year to increase by 25%-50% year-on-year
According to Zhitong Finance App News, Sanhua Intelligent Control (02050) announced that the group expects net profit attributable to shareholders of listed companies to be about 3.874 billion yuan to 4.649 billion yuan in 2025, an increase of 25%-50% over the previous year; net profit after deducting non-recurring profit and loss is about 3,679 billion yuan - 4.615 billion yuan, an increase of 18%-48% over the previous year.
IPO: Nobi Kam (02635) closed 275% in the dark market and earned HK$11,000 per lot
Nobicam will be listed in Hong Kong on December 23, 2025. By the close, undercover trading showed a price of HK$300, up 275% from the offering price of HK$80. Each lot earned HK$11,000 for 50 shares without handling fees.
IPO: Easy Health (02661) closed up more than 127% in the dark market and earned HK$5,804 per lot
Easy Health will be listed in Hong Kong on December 23, 2025. By the close, undercover trading showed a price of HK$51.7, up 127.95% from the offer price of HK$22.68. Each lot earned HK$5,804 for 200 shares without handling fees.
[Individual stock prices are clear]
China Exemption (01880): Fully benefiting from the sharp increase in sales at Hainan customs duty free stores
On December 18, customs clearance operation for the entire island of the Hainan Free Trade Port was officially launched. As a special area for customs supervision, the entire island of Hainan implemented the policy arrangement of “first-line liberalization, second-line control, and freedom within the island”. Among them, Hainan and overseas countries act as “frontline” and implement regulations on eligible imported “zero tariffs” and bonded goods; Hainan and mainland China are classified and supervised related goods as “second-tier”.
Haikou Customs released statistics on December 19. On December 18, when the Hainan Free Trade Port officially launched customs closure of the entire island, the amount of duty-free shopping on the outlying islands of Hainan was 161 million yuan, the number of shoppers was 24,800, and 118,000 items were purchased, up 61%, 53.1%, and 25.5%, respectively. Also, according to a report by the Sanya Daily, on the first day of the customs closure, Sanya's duty-free sales performance was impressive, with the city's duty-free sales reaching 118 million yuan.
Societe Generale Securities believes that duty-free shops in the new city will be opened centrally in Q3-Q4, and that the duty-free drainage+tax supplement layout will achieve full passenger flow coverage. At the same time, the outlying islands tax exemption policy, port and city tax exemption policies have been optimized to further expand the coverage radius of stores, expand the customer base, increase the scope and categories of sales, and simplify some approval processes to supplement sales growth. Currently, the duty-free sector has a relatively good chip structure. Fundamentals are recovering from the bottom up, and there will still be favorable policies and catalysts in the future.