Zhitong Hong Kong stocks have long known | Real estate ushered in a policy “combo punch”. Federal Reserve Chairman Walsh's speech at Jackson Hole was hawkish
[Today's headlines]
Multiple departments issued documents, real estate ushered in a policy “combo punch”
On August 28, three departments including the Ministry of Housing, Urban-Rural Development, the Ministry of Natural Resources, and the General Administration of Financial Supervision jointly issued the “Notice on Improving the Commercial Housing Sales System”, which clearly proposes improving the pre-sale management of commercial housing, vigorously and orderly implementation of existing commercial housing sales, and strengthening coordination of policies and measures.
On the same day, the People's Bank of China and the State Administration of Financial Supervision and Administration jointly issued “Opinions on Reforming and Improving Real Estate Credit Management and Promoting the Accelerated Construction of a New Model for Real Estate Development”. The “Opinion” focuses on credit requirements throughout the life cycle of real estate development, construction, sales, and operation, clarifies loan types in segments such as commercial housing, affordable housing, rental housing, and commercial real estate, and establishes a real estate credit product system with comprehensive coverage and orderly connections.
On the same day, the China Securities Regulatory Commission issued “Opinions on Capital Market Support for the Construction of a New Real Estate Development Model”, which proposes to meet the reasonable financing needs of real estate development enterprises with different ownership systems without discrimination, establish a multi-level capital market financing support system of “equity - mergers and acquisitions - bonds - asset securitization - real estate private equity investment funds”, and broaden the capital market financing path for housing enterprises in all aspects.
On the same day, the General Administration of Financial Regulation, together with relevant departments, reformed and improved the real estate financing system and issued the “Administrative Measures on Commercial Housing Development Loans (Trial)”, “Administrative Measures on Personal Housing Loans (Trial)”, “Administrative Measures on Urban Renewal Project Loans (Trial)”, “Administrative Measures on Urban Renewal Project Loans (Trial)”, and “Administrative Measures on Trust Companies Carrying Out Trust Business in the Real Estate Sector (Trial)”.
[General outlook]
The three major US stock indices collectively closed down last Friday, and the Philadelphia Semiconductor Index fell more than 3%
Overnight, when US stocks closed, the three major US stock indices collectively closed down. The Dow Jones Industrial Average fell 9.45 points, or 0.02%, to close at 53559.99 points; the S&P 500 stock index fell 19.23 points to close at 7711.76 points, or 0.25%; and the Nasdaq Composite Index fell 138.93 points to close at 26402.42 points, or 0.52%. Last week, the Dow rose 0.53%, the NASDAQ rose 0.85%, and the S&P 500 rose 0.49%.
The semiconductor and chip sectors generally declined. The Philadelphia Semiconductor Index fell by more than 3%, Maywell Technology fell by more than 10%, and ARM fell by more than 6%. Precious metals and gold and silver mining stocks weakened one after another due to the sharp drop in gold and silver prices. The optical communications sector declined, Lumentum fell more than 6%, and Coherent fell more than 5%.
The Nasdaq China Golden Dragon Index closed up 0.44%. Most popular Chinese securities rose, Fangduo rose more than 37%, and Shell rose more than 3%. The Hang Seng Index ADR rose. On a proportional basis, it closed at 25643.67 points, up 58.88 points or 0.23% from the Hong Kong closing market.
WTI crude oil futures on the New York Mercantile Exchange fell $0.09 for the month, or 0.11%, to close at $83.44 a barrel. COMEX gold futures fell $159.90 for the month's consecutive contracts, or 3.43%, to $4504.1 per ounce.
[Hot Topics Preview]
Federal Reserve Chairman Walsh's speech at Jackson Hole was hawkish
CICC released a research report saying that Federal Reserve Chairman Walsh's speech in Jackson Hole had a hawkish attitude: he acknowledged that inflation is still high, made it clear that interest rates are still the main policy tool, and stated that “action will be taken according to the circumstances”; at the same time, it is based on economic resilience, stable employment, and loose financial conditions, indicating that current policy risks are more on the inflationary side. He also blamed the central bank itself for exceeding the 65-month inflation standard, and corrected the vague statement of “let the market replace the Federal Reserve's interest rate hike” in July.
Four South American countries sign strategic minerals cooperation agreement to seek to enhance the position of the global supply chain
Chile, Argentina, Bolivia and Peru signed a joint statement on Friday to strengthen regional cooperation between the four countries in the field of strategic minerals, focusing on minerals such as copper and lithium. The four countries mentioned above are seeking to form a common front to strengthen development, coordination and investment, further enhance the region's strategic position in the energy transition, and promote South America to become a reliable global supplier of strategic minerals.
The three departments issued a notice on regulating the personal income tax policy for the transfer of restricted shares of listed companies
Income obtained by individuals from the transfer of restricted shares of listed companies is subject to personal income tax at a rate of 20% according to “income from property transfer”. The restricted shares referred to in this announcement include restricted shares stipulated in section 2 of the “Notice of the Ministry of Finance, the State Administration of Taxation, and the Securities Regulatory Commission on Issues Relating to the Levy of Personal Income Tax on Proceeds from the Transfer of Restricted Shares of Listed Companies” (Finance and Taxation (2009) No. 167), as well as transfers and transfers of shares generated after the ban was lifted and registered as shares after the implementation of this announcement.
COSCO Maritime Control (01919) plans to build 12 22000TEU LNG dual-fuel-powered container ships and 6 new 3200TEU wide-body container ships
The cost of each target ship I was US$224 million (equivalent to approximately HK$1,747 million), and the total price of all target ship I was US$2,688 million (equivalent to approximately HK$20.966 billion). After delivery of such target vessels, the Group's fixed assets will increase, current assets will decrease, and long-term liabilities will increase, depending on the ratio of internal resources to external financing.
GCL Technology (03800): Construction work has begun on the second phase of the Leshan Project to add 200,000 tons of additional production capacity
The Leshan project uses the GCL-PHY one-step process technology used by GCL Group Co., Ltd., the contact person of the company's main shareholder, free of charge, and is the world's first iron red lithium iron phosphate preparation technology. Currently, the silicon-carbon anode industry is entering a critical window of industrialization. The Group has 600,000 tons of silane production capacity. As the world's largest silane manufacturer, it is expected to seize industry development opportunities and build a new business growth curve.
Anke Innovation (00668) announced interim results. Profit attributable to equity shareholders was about 1.702 billion yuan, an increase of 45.86% year-on-year
Basic earnings per share were $3.17. According to the announcement, revenue growth was mainly due to increased brand awareness and continued expansion of online and offline channels.
Luye Pharmaceutical (02186) announced interim results. Profit attributable to shareholders of 391 million yuan increased 24.8% year over year
Basic earnings per share were RMB 9.78 cents. In the Chinese market, the Group's main products are competitive in its four main treatment fields (oncology, central nervous system, cardiovascular and metabolism).
Chifeng Gold (06693) announced interim results, net profit of 1,732 billion yuan, an increase of 56.5% year-on-year
Basic earnings per share were $0.92. During the reporting period, the company produced 6.2 tons of gold and 5,399 tons of electrolytic copper; achieved operating income of 7.018 billion yuan, up 33.11% year on year; net profit attributable to shareholders of listed companies was 1,732 billion yuan, up 56.50% year on year; net cash flow from operating activities was 1,880 billion yuan, up 16.60% year on year.
Shandong Gold (01787) announced interim results, net profit of about 3,543 billion yuan, a year-on-year increase of 26.17% for every 10 shares
In the first half of 2026, the company's overseas mines produced 6.69 tons of gold, an increase of 18.03% over the previous year. By optimizing the mining operation plan and optimizing the metallurgical selection process, the mining volume, mineral supply volume, and beneficiation processing volume increased significantly over the same period last year, the beneficiation recovery rate increased, and production increased by more than 50% year on year. Construction of key projects is being accelerated, and incremental momentum continues to gather momentum. Key projects such as the Sanshandao Gold Mine, Xincheng Gold Mine, and Chifeng Diesel Mine are progressing ahead of schedule. The construction of the Namibian Osino Company's Shuangshan Gold Mine project is being carried out in an orderly manner, and it is scheduled to be put into operation in the first half of 2027. Warrant processing was targeted, and 48 warrants of various types and related approvals were obtained in the first half of the year; the 15,000 tons/day expansion project for the Sanshan Island Gold Mine is expected to be approved by the end of September. According to the announcement, the main reason for the decline in operating income was the decrease in outsourced revenue in the current period.
China Petroleum Corporation (00857) announced interim results, net profit to mother of 103,936 billion yuan, up 22% year-on-year
Basic earnings per share are RMB 0.57, and an interim dividend of RMB 0.26 per share is proposed. The Group's revenue increased year-on-year in the first half of 2026, mainly due to the combined impact of rising prices of the Group's oil and gas products and changes in sales volume. China Petroleum Corporation announced that China Petroleum Group, the Company, CNPC Capital and Kunlun Capital signed a capital increase agreement on August 28, 2026. CNPC and the Company will increase the capital of Kunlun Capital in a disproportionate proportion to the original shareholders.
Ganfeng Lithium (01772) announced that the profit attributable to the owner of the parent company was about 4.258 billion yuan, turning a year-on-year loss into a profit
Basic profit per share was $2.04. According to the announcement, the increase in total revenue was mainly due to a significant increase in the average sales price of lithium series products during the reporting period compared to the same period last year. Combined with the increase in demand for energy storage, the increase in production and sales in the lithium battery sector led to a sharp increase in revenue and profit over the same period last year.
The net profit of China Heart Link Chemical Fertilizer (01866) in the first half of the year was 921 million yuan, up 53.64% year on year, and new production capacity was successfully released
Earnings per share were 73.9 points. During the reporting period, the Group's new production capacity was successfully released, laying the foundation for sales growth of core products such as urea and liquid ammonia, and effectively expanding the supply capacity of the core product market.
Huiju Technology (01729) announced interim results. Profit attributable to owners of approximately HK$828 million increased 1.64 times year-on-year, with a year-on-year increase of about HK6 cents per share
According to the announcement, the increase in revenue was mainly due to (i) the acquisition of Dejinchang Group in December 2025 to contribute revenue to the Group; and (ii) increased revenue from data centers in the server division and cable component division.
China Xuyang Group (01907) announced interim results. Profit attributable to shareholders of 204 million yuan increased 719.92% year-on-year
Basic earnings per share were 4.77 points, and the interim dividend was 1.44 points per share. At the end of the reporting period, the Group's coking coal price rose 9 rounds, falling 2 rounds, and the cumulative price increase was RMB 385 yuan/ton. Thanks to the Group's core competitive advantage of sales, transportation, production, supply and research formed by the Group in 31 years, the operating income of the coking coal sector increased 9.6% year on year, and gross profit increased 10.5% year on year.
Shanghai Fudan (01385) received 43.43 million yuan in government grants
Government grants relating to earnings account for 18.69% of the company's audited net profit attributable to shareholders of listed companies in the most recent fiscal year.
[Individual stock prices are clear]
Guangdong-Hong Kong Bay Intelligent Computing (01396) Interim Results: Intended Orders Exceed 37 Billion Yuan
Guangdong-Hong Kong Bay Intelligent Computing announced its interim results for the six months ended June 30, 2026. Revenue increased tenfold: achieved operating income of about RMB 2.56 billion, a year-on-year surge of about 1020.9%, reaching a new level of revenue and strong growth momentum. Profit jumped by leaps and bounds: Profit for the period was approximately RMB 281 million, reaching 5 times the net profit for the full year of last year (approximately RMB 56 million), and profitability jumped by leaps and bounds and reached a record high.