Zhitong Hong Kong Stock Early Knowledge | The National Energy Administration promotes the simultaneous development of offshore wind power and wave energy, NASDAQ Golden Dragon China Index falls 5.2%

【Today's Headlines】

National Energy Administration: Actively Promote the Joint Development of Offshore Wind Power and Wave Energy

The Ministry of Natural Resources held a regular press conference to interpret the "Guiding Opinions on Promoting the Large-Scale Utilization of Marine Energy" jointly issued by six departments, including the Ministry of Natural Resources, the Ministry of Industry and Information Technology, and the National Energy Administration. Pan Huimin, Deputy Director of the New Energy and Renewable Energy Department of the National Energy Administration, stated that the National Energy Administration will work with relevant departments to solidly promote the marine energy resource survey in pilot areas and promote it nationwide in coastal areas at the appropriate time; actively promote the joint development of offshore wind power and wave energy to enhance the efficiency of marine resource development; strengthen overall coordination in conjunction with the "14th Five-Year" renewable energy development plan and energy technology innovation planning research, supervise and guide coastal localities to implement the opinions, enhance the innovation and development capabilities of marine energy, strengthen policy guidance and institutional guarantees, and accelerate the large-scale utilization of marine energy. This involves Hong Kong-listed Goldwind Technology (02208).

【Market Outlook】

NASDAQ Golden Dragon China Index Falls 5.2%

Overnight, the Dow Jones Industrial Average rose 33.19 points, an increase of 0.08%, closing at 43,461.21 points; the NASDAQ fell 237.08 points, a decrease of 1.21%, closing at 19,286.92 points; the S&P 500 index fell 29.88 points, a decrease of 0.50%, closing at 5,983.25 points. NVIDIA (NVDA.US) fell 3%, Tesla (TSLA.US) fell 2%, Berkshire Hathaway (BRK.A.US, BRK.B.US) rose 4.2%, with Class A shares priced at $747,000, hitting a new high, and Apple (AAPL.US) rose 0.6%.

The NASDAQ Golden Dragon China Index fell 5.2%, with Alibaba (BABA.US) dropping over 10%. The Hang Seng Index ADR fell, closing at 22,795.63, down 545.98 points or 2.34% compared to the Hong Kong closing.

【Hot Topics Ahead】

Midland: Market Anticipates Favorable Budget Proposal, Transactions in 35 Residential Areas in Hong Kong Reach New High in Over Three Months

According to Zhitong Finance APP, the market anticipates that the upcoming Hong Kong fiscal budget proposal will include favorable measures for the property market, prompting some buyers to rush into the market. The new property market is booming, with a new project in Yuen Long selling out on the first day of its launch, while second-hand transactions continue to warm up. Comprehensive data from Midland shows that a total of 69 transactions were recorded in 35 large residential areas across Hong Kong in the past week (February 17 to February 23), an increase of about 19% compared to 58 transactions in the previous week (February 10 to February 16), marking three consecutive weeks of growth and reaching a new high in 15 weeks (over three months).

Institutions: China's TV Shipment Volume Tops Global Rankings, Hisense, TCL, and Xiaomi in the Top Three

According to data released by market research firm Omdia, the combined shipment volume of Chinese TV brands Hisense, TCL, and Xiaomi accounted for 31.3% of the global market share, surpassing the combined 28.4% share of South Korea's Samsung Electronics and LG Electronics for the first time, significantly enhancing the global competitiveness of Chinese TV brands.

Shimao Group (00813): Overseas Debt Restructuring Has Received Approval from Most Required Creditors Shimao Group stated in a document filed with the Hong Kong Stock Exchange that the proposed offshore debt restructuring has received the approval of the majority of the planned creditors. Shimao Group indicated that it will seek the High Court's approval and ruling on the plan, with the hearing for the petition scheduled for 10:00 AM on March 13.

RoboSense (02498) rolls off its 1 millionth LiDAR and delivers it

On February 21, RoboSense held a ceremony in Shenzhen for the roll-off of its 1 millionth LiDAR, which was officially delivered on February 24 to the full-size humanoid robot "Qinglong" under Humanoid Robotics Co., Ltd. This marks RoboSense as the first company in the world to achieve the milestone of one million LiDAR units.

Qianxin Biotech-B (02509): QX002N for treating ankylosing spondylitis achieves primary endpoint in Phase III clinical trial

Qianxin Biotech-B (02509) announced that its self-developed QX002N injection for the treatment of ankylosing spondylitis (AS) has achieved the primary endpoint in its Phase III clinical trial. Data shows that QX002N demonstrated excellent efficacy as well as good safety and tolerability in patients with moderate to severe active ankylosing spondylitis.

All costs of the five insurances and one fund for delivery riders will be fully borne by JD.com

JD.com announced that, given the current average salary of delivery riders is far below that of JD delivery personnel, in order to ensure salary fairness, all costs for the five insurances and one fund for full-time delivery riders contracted in the near future, including the portion that individuals are required to pay, will be fully borne by JD.com. This ensures that riders' cash income will not decrease due to the payment of the five insurances and one fund. This initiative includes both existing and new riders. In the future, JD.com will vigorously promote equal pay for equal work, gradually improve the welfare of delivery riders, and significantly reduce management costs through integrated management, thereby allowing full-time delivery riders to become a large employment group with stable income, job satisfaction, and old-age security, just like JD delivery personnel.

Previously, JD.com took the lead in paying the five insurances and one fund for existing and new full-time JD delivery riders, and provided accident insurance and health medical insurance for part-time riders. After JD.com became the first platform to pay the five insurances and one fund for delivery riders, more companies began to pay attention to and follow up on rider protection. JD.com is willing to continue working with all sectors to jointly promote the continuous improvement of rider rights protection.

Daphne International (00210) issues profit warning, expects annual profit attributable to shareholders to increase by no less than approximately 60% to no less than approximately RMB 100 million

According to Zhitong Finance APP, Daphne International (00210) announced that based on the preliminary assessment of the unaudited consolidated management accounts for the year ending December 31, 2024, and the information currently available to the board, it is expected that the group will achieve a profit attributable to shareholders of no less than approximately RMB 100 million for the current year, compared to a profit attributable to shareholders of approximately RMB 62.4 million for the year ending December 31, 2023, representing a significant increase of no less than approximately RMB 37.6 million or 60% Yuan Ecological Agriculture (01431) Issues Earnings Upgrade, Expected Annual Net Profit of Approximately RMB 270 Million to RMB 320 Million

According to Zhitong Finance APP, Yuan Ecological Agriculture (01431) announced that it expects the group to achieve a net profit of approximately RMB 270 million to RMB 320 million for the year ending December 31, 2024, compared to a net loss of approximately RMB 339.7 million for the year ending December 31, 2023 (previous year).

TianYue Advanced: Submits H-share Issuance and Listing Application to Hong Kong Stock Exchange

TianYue Advanced announced on the evening of February 24 that the company is in the process of applying for a public offering of shares overseas and listing on the main board of the Hong Kong Stock Exchange. According to the timeline for this issuance, the company submitted the application for this issuance to the Hong Kong Stock Exchange on February 24, 2025, and published the application materials on the Hong Kong Stock Exchange website on the same day.

Considering a $300 Million IPO in Hong Kong? Biren Technology: No Comment

There are reports that AI chip manufacturer Biren Technology is reportedly considering a $300 million IPO in Hong Kong. In response, Biren Technology stated: no comment. In September 2024, Biren Technology completed the filing for guidance with the Shanghai Securities Regulatory Bureau, planning to conduct an initial public offering and listing, with Guotai Junan as the guiding securities firm.

Meitu Inc. (01357) Major Shareholder Cai Wensheng Recently Reduced Holdings by 128 Million Shares, Founder Wu Zeyuan Plans to Further Increase Holdings After Lock-up Period Ends

According to Zhitong Finance APP, Meitu Inc. (01357) announced that the board of directors was informed that a major shareholder, Mr. Cai Wensheng, sold 128 million shares of the company through Longlink Capital Ltd from February 17 to February 21, 2025, accounting for approximately 2.81% of the total issued shares of the company.

[Stock Highlights]

Chia Tai Enterprises International (03839) Releases Annual Results, Shareholders' Profit Attributable of $11.168 Million, Up 337.45% Year-on-Year

According to Zhitong Finance APP, Chia Tai Enterprises International (03839) released its annual results for the year ending December 31, 2024, reporting revenue of $308 million, an increase of 76.89% year-on-year; the profit attributable to shareholders was $11.168 million, an increase of 337.45% year-on-year; earnings per share were 4.41 cents.

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