Zhitong Hong Kong Stock Early Knowledge | HKEX Researches Lowering Investment Threshold for Hong Kong Stocks, New York Gold Futures Surpasses $3,000 Mark

【Today's Headlines】

Lowering the Investment Threshold for Hong Kong Stocks? HKEX Responds: Initial Research on Related Adjustments is Underway

There are reports that the Hong Kong Stock Exchange is exploring plans to lower the investment threshold for purchasing certain high-priced stocks in Hong Kong to stimulate trading. In response, an HKEX spokesperson stated, "HKEX will continue to implement various micro-structural enhancement measures and will launch the first phase of lowering the minimum price fluctuation for stock trading and adjusting the securities market trading fee structure in the second half of this year, ensuring that the relevant fees are more closely linked to the trading amount. In addition, we are conducting initial research on adjusting the number of shares per lot to ensure that Hong Kong's market structure keeps pace with the times. HKEX will consider the advantages of different proposals and will conduct market consultations later."

【Market Outlook】

S&P 500 Index Officially Enters Correction Territory

Overnight, the Dow Jones Industrial Average fell 537.36 points, a decline of 1.30%, closing at 40,813.57 points; the Nasdaq dropped 345.44 points, a decline of 1.96%, closing at 17,303.01 points; the S&P 500 index fell 77.79 points, a decline of 1.39%, closing at 5,521.51 points. As of Thursday's close, the Dow has fallen for four consecutive trading days, with a cumulative decline of over 4.6%. The S&P 500 index has dropped more than 10% from its recent record high of 6,144.15 points set on February 19, officially entering correction territory. Apple (AAPL.US) has fallen for four consecutive trading days, with a cumulative decline of 12.3%; Costco (COST.US) has fallen for six consecutive trading days, with a cumulative decline of 15%.

Popular Chinese concept stocks showed mixed results, with the Nasdaq Golden Dragon China Index down 0.14%. Brain Regen Technology (RGC) surged 235%; Lianzhang Portal (LZMH) rose 59%. The Hang Seng Index ADR rose, closing at 23,662.34, up 199.69 points or 0.85% compared to the Hong Kong close.

New York futures gold surpassed the $3,000 mark, setting a new historical high, with an intraday increase of over $50; spot gold is currently reported at $2,987 per ounce. Analyst Karishma Vanjani stated that Wall Street is experiencing a gold rush, but investors should be cautious. JP Morgan and Goldman Sachs recommend continuing to hold gold, while Société Générale has just raised its gold price forecast, and BlackRock has been advising purchasing gold to diversify portfolios for several months.

【Hot Topics Ahead】

The State Council Information Office Will Hold a Press Conference on March 17 to Introduce Measures to Boost Consumption

The State Council Information Office will hold a press conference on March 17, 2025 (Monday) at 3 PM, where Li Chunlin, Deputy Director of the National Development and Reform Commission, along with relevant officials from the Ministry of Finance, Ministry of Human Resources and Social Security, Ministry of Commerce, People's Bank of China, and State Administration for Market Regulation, will introduce measures to boost consumption and answer reporters' questions.

Saudi Arabia Launches Bidding for 25,000 Square Kilometers of Mineral Exploration Licenses Involving Gold, Silver, Copper, Zinc, and Other Minerals

Saudi Arabia has launched bidding for mineral exploration licenses, covering three exploration belts in the Riyadh and Medina regions, with a total area of 24,946 square kilometers, rich in gold, copper, silver, zinc, nickel, and other minerals; this is part of Saudi Arabia's plan to open over 50,000 square kilometers of mineral exploration licenses by 2025, aimed at unlocking mineral potential valued at up to $2.48 trillion The Ministry of Industry and Information Technology states it will accelerate 6G research and development process; experts say 6G may achieve microsecond-level latency

This year, the government work report first included 6G technology in the core framework for future industry cultivation. Just yesterday, the Ministry of Industry and Information Technology also held a meeting, stating that it will expand the large-scale application of 5G and accelerate the 6G research and development process. What kind of communication technology is 6G? What new experiences will it bring? Hu Xiaopeng, head of the Communication Industry Research Center at CCID Consulting, introduced that in terms of latency, the goal of 6G is to achieve microsecond-level or even lower latency; in terms of connection density, 6G will support more devices to connect simultaneously, which will help support ultra-large-scale connections. In the 6G era, the organic integration of terrestrial mobile communication with high, medium, and low-orbit satellites will enable 6G networks to cover areas where ground signals are difficult to reach, such as deserts, oceans, and the air, achieving seamless connectivity across all domains.

Insiders: Tesla will cooperate with Baidu to improve the performance of its driver assistance system in China

According to two insiders, Tesla is collaborating with Chinese tech giant Baidu to improve the performance of its advanced driver assistance system in China. Tesla's previous upgrade had drawn criticism from some customers. They stated that Baidu recently sent a team of engineers from its mapping team to Tesla's office in Beijing to better integrate Baidu's navigation map information with Tesla's Full Self-Driving (FSD) V13 software. The insiders did not disclose how many engineers were sent to Tesla or whether they are still working there. They said the purpose of the collaboration is to enhance the understanding of FSD V13 regarding Chinese roads by utilizing more accurate and updated map information.

Fosun Pharma (02196): Controlling subsidiary plans to sell assets for $124 million

Fosun Pharma announced in the evening that on March 13, its controlling subsidiary Fosun Industrial signed a Share Transfer Agreement with CalciteGem, planning to transfer 9.4 million shares of Unicorn II Holdings Limited, accounting for approximately 6.6% of the total shares of the target company, to CalciteGem for a cash consideration of $124 million. Upon completion of this transaction, the group will no longer hold equity in the target company. If this transaction is completed, it is expected to contribute approximately RMB 650 million in after-tax earnings to the group.

Budweiser APAC (01876) to lay off thousands? Company responds: Reports are untrue, will continue long-term investment in China

Some media outlets cited insiders saying that Budweiser APAC plans to lay off thousands of employees this year to cut costs. This is part of the company's plan to reduce operating costs by about 15% this year, following a 16% reduction of approximately 25,000 employees last year. Journalists contacted relevant personnel at Budweiser China for details, and they stated: "The company has a response; reports about plans to cut thousands of positions by 2025 are untrue. We will continue to make long-term investments in China."

Fudan Zhangjiang (01349): Clinical trial for visualization of bladder cancer surgery using Ammonium Ketone Butyrate granules completes first subject enrollment According to the Zhitong Finance APP, Fudan Zhangjiang (01349) announced that the group’s research and development of the hydrochloride amonopentanoic acid granules (the drug) for non-muscle invasive bladder cancer surgical resection auxiliary verification clinical study (the study) has recently successfully completed the enrollment of the first subject.

Viya Bio (01873) issues profit warning, expects net profit attributable to shareholders for the year 2024 to be approximately RMB 150 million to RMB 180 million

According to the Zhitong Finance APP, Viya Bio (01873) announced that compared to a net loss of RMB 99.8 million for the year ending December 31, 2023, and a net loss attributable to shareholders of RMB 116.1 million for the fiscal year 2023, the group expects to turn a profit for the year ending December 31, 2024, with net profit ranging from RMB 210 million to RMB 240 million, and net profit attributable to shareholders ranging from RMB 150 million to RMB 180 million.

Ximei Resources (09936) issues profit warning, expects annual net profit attributable to shareholders to be approximately RMB 113 million to RMB 138 million

According to the Zhitong Finance APP, Ximei Resources (09936) announced that the group expects a significant increase in net profit attributable to shareholders for the fiscal year ending December 31, 2024, to approximately RMB 113 million to RMB 138 million, compared to an audited net profit attributable to shareholders of approximately RMB 87.1 million for the fiscal year ending December 31, 2023. This expected increase in profit is mainly due to the increase in the company's production capacity driving revenue growth.

Tongguan Gold (00340) issues profit warning, expects annual net profit of approximately HKD 210 million, an increase of about 250% year-on-year

According to the Zhitong Finance APP, Tongguan Gold (00340) announced that the group expects to achieve (i) a turnover of approximately HKD 1.605 billion for the year ending December 31, 2024, an increase of about 7% compared to the turnover of approximately HKD 1.497 billion for the same year in 2023; and (ii) a net profit of approximately HKD 210 million, an increase of about 250% compared to the net profit of approximately HKD 60 million for the same year in 2023.

CGN Mining (01164) expects profit for the year 2024 to decrease by approximately HKD 130 million to HKD 180 million year-on-year

According to the Zhitong Finance APP, CGN Mining (01164) announced that it expects the group’s profit before tax from continuing operations for the year ending December 31, 2024, to rise to approximately HKD 230 million to HKD 280 million compared to the same period in 2023. Meanwhile, the group expects the profit for the year ending December 31, 2024, to decrease by approximately HKD 130 million to HKD 180 million compared to the same period in 2023.

AIA Group (01299): New business value for the year 2024 increased by 18% year-on-year to USD 4.712 billion, plans to declare a final dividend of HKD 1.3098 per share

According to the Zhitong Finance APP, AIA Group (01299) announced its full-year results for the year ending December 31, 2024, with a growth rate based on fixed exchange rates, new business value increased by 18% year-on-year to USD 4.712 billion; annualized new premiums increased by 14% year-on-year to USD 8.606 billion; after-tax operating profit of USD 6.605 billion, with basic after-tax operating profit of 59.7 US cents per share; The return on equity for shareholders reached 14.8%, an increase of 130 basis points from 13.5% in 2023; a final dividend of HKD 1.3098 per share is proposed.

【Stock Highlights】

Bank of China Aviation Leasing (02588) reports record after-tax net profit of USD 924 million for 2024, final dividend of USD 0.2670

Bank of China Aviation Leasing announced that for the year ending December 31, 2024, the total operating income and other income increased by 4% year-on-year to USD 2.6 billion; the after-tax net profit reached a record USD 924 million, compared to USD 764 million in 2023; pre-tax profit rose by 21% to USD 1.039 billion. The board of directors recommends a final dividend of USD 0.2670 per share for 2024, subject to approval at the annual general meeting of shareholders to be held on May 29, 2025. Maintaining strong liquidity, as of December 31, 2024, cash and cash equivalents amounted to USD 671 million, with undrawn committed loan facilities of USD 5.8 billion, providing liquidity of USD 6.5 billion.

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