Zhitong Hong Kong Stock Early Knowledge | Iranian Parliament Approves Closure of the Strait of Hormuz, Stablecoin First Stock Circle Rises Over 20% to Set a New Historical High

【Today's Headlines】

Iranian Parliament Approves Closure of the Strait of Hormuz

Member of the National Security Committee of the Iranian Parliament, Kousari, stated that the Iranian Parliament has concluded that the Strait of Hormuz should be closed, but the final decision rests with Iran's Supreme National Security Council. The Strait of Hormuz, located between Oman and Iran, connects the eastern Oman Gulf and the western Persian Gulf, serving as the only maritime route for oil from the Gulf region to the world. Approximately one-third of global maritime crude oil trade passes through the Strait of Hormuz.

On the 21st, U.S. President Trump stated on social media that the U.S. military has "successfully struck" three Iranian nuclear facilities. Iran warned that it "retains all options" to respond to U.S. attacks, which may heighten market concerns over disruptions in shipping through the Strait of Hormuz. As a transport route for 20% of the world's oil and liquefied natural gas, any impact on this strait could trigger a chain reaction.

Iranian Foreign Minister Abbas Araghchi posted on the X platform that the bombing of Iran's Fordow, Natanz, and Isfahan nuclear facilities by the U.S. will have "permanent consequences." The continued expansion of crude oil risk premiums may drive oil prices higher in the long term, reigniting market concerns about inflation. All of this could exacerbate price volatility in various asset markets and weaken market expectations for interest rate cuts by the Federal Reserve in the second half of the year. Additionally, Israel's attack on Iran's South Pars gas field on June 14 further heightened the risks to oil and gas supply in the Middle East.

【Market Outlook】

U.S. Stock Indices Mixed; Stablecoin Circle (CRCL.US) Rises Over 20% to Set New All-Time High

Overnight, the Dow Jones Industrial Average rose by 35.16 points, an increase of 0.08%, closing at 42,206.82 points; the Nasdaq fell by 98.86 points, a decrease of 0.51%, closing at 19,447.41 points; the S&P 500 index fell by 13.03 points, a decrease of 0.22%, closing at 5,967.84 points. Last week, the Dow rose by 0.02%, the Nasdaq rose by 0.21%, and the S&P 500 index fell by 0.15%. Most large tech stocks declined, with Google down nearly 4%, Meta, Intel, Amazon, and Nvidia down over 1%, and Microsoft slightly down; Apple rose over 2%, while Netflix and Tesla saw slight increases. Circle rose over 20%, setting a new closing all-time high. Popular Chinese concept stocks were mixed, with the Nasdaq Golden Dragon China Index down 0.92%, accumulating a decline of 1.48% last week. The Hang Seng Index ADR fell, closing at 23,411.98 points, down 118.50 points or 0.50% compared to the Hong Kong close.

【Upcoming Highlights】

People's Bank of China and Hong Kong Monetary Authority Jointly Hold Launch Ceremony for Cross-Border Payment Link

On the morning of June 20, the People's Bank of China and the Hong Kong Monetary Authority jointly held the launch ceremony for the interconnection of the Mainland and Hong Kong Rapid Payment System. Pan Gongsheng, Governor of the People's Bank of China, Wang Linggui, Deputy Director of the Central Office for Hong Kong and Macao Affairs and Deputy Director of the State Council's Hong Kong and Macao Affairs Office, and Eddie Wu, President of the Hong Kong Monetary Authority, attended and delivered speeches. Lu Lei, Vice Governor of the People's Bank of China, hosted the event Ministry of Finance: From January to May, stamp duty revenue from securities transactions reached 66.8 billion, a year-on-year increase of 52.4%

From January to May, the national general public budget revenue was 96,623 billion yuan, a year-on-year decrease of 0.3%. Among them, national tax revenue was 79,156 billion yuan, a year-on-year decrease of 1.6%; non-tax revenue was 17,467 billion yuan, a year-on-year increase of 6.2%. In terms of central and local, central general public budget revenue was 41,486 billion yuan, a year-on-year decrease of 3%; local general public budget revenue was 55,137 billion yuan, a year-on-year increase of 1.9%.

National Medical Products Administration: Supporting the innovative development of high-end medical devices, new measures will be introduced

On June 20, the National Medical Products Administration reviewed and approved the "Measures to Optimize the Whole Life Cycle Supervision to Support the Innovative Development of High-end Medical Devices," supporting the innovative development of high-end medical devices. It is understood that medical robots, high-end medical imaging equipment, artificial intelligence medical devices, and new biological materials medical devices are highly integrated technologies and are typical products of high-end medical devices, which are also key to shaping new productive forces in medical devices.

Congo extends cobalt export ban for three months to curb supply

According to a statement from regulatory authorities, the Democratic Republic of Congo will extend its temporary ban on cobalt exports for three months, continuing its efforts to curb oversupply in the international market. Cobalt produced in Congo accounts for about three-quarters of the cobalt used in electric vehicle batteries. The country previously implemented a four-month export ban starting from February 22. In recent years, cobalt supply has surged due to increased production at two large mines operated by China Molybdenum Co., Ltd. in this Central African country, leading to a price collapse. The Congo Strategic Mineral Market Regulatory Bureau stated in a statement that the extension of the export ban is "due to persistently high market inventories." The document was dated Saturday and signed by the bureau's chairman, Patrick Luabeya.

According to Fastmarkets data, shortly before the ban initially took effect, cobalt benchmark prices fell below $10 per pound—this is the lowest level in 21 years, except for a brief drop at the end of 2015. Since then, prices have risen nearly 60%, while the price of cobalt hydroxide, Congo's main export product, has doubled. Congo is also considering long-term plans for its cobalt resources, including possible export quotas to support prices and promote domestic processing. ARECOMS stated in a statement on Saturday that it will announce new decisions before the extension of the ban expires, which may "modify, extend, or terminate this temporary ban." This involves Hong Kong-listed Luoyang Molybdenum Co., Ltd. (03993).

Research: U.S. strikes on Iranian nuclear facilities may lead to oil prices exceeding $130

Analysts Ziad Daoud and his team stated that the impact on oil depends on how Iran responds—and what actions the U.S. will subsequently take, as well as whether and when a ceasefire can be reached. As the market digests the risks to supply, crude oil prices have risen from about $70 per barrel when Israel first launched airstrikes against Iran to $77 per barrel on Friday. If an extreme scenario occurs where the Strait of Hormuz is blocked, crude oil prices could soar above $130 per barrel. This would weigh on global economic growth and raise consumer prices Muyuan Foods: Hong Kong Stock Issuance Expected to Land in Q4

At the recent annual pig farming festival, executives from Muyuan Foods stated to the media that the company's Hong Kong stock issuance is likely to land in the fourth quarter, depending on the IPO progress. Regarding the reasons for promoting the Hong Kong IPO, the company also mentioned that entering the international capital market is the foundation of its overseas strategy for the next five to ten years. Due to industrial development reasons, the Southeast Asian market's investment in pig farming equipment technology is still relatively lagging. The implementation of the Vietnam project is based on the overall output of the company's breeding technology and equipment over the years.

Yimai Sunshine (02522) Plans to Invest 54 Million Yuan to Acquire 70% Equity of Gaomai Health

According to Zhitong Finance APP, Yimai Sunshine (02522) announced that on June 22, 2025, its wholly-owned subsidiary Jiangxi Ganjiang New District Yimai Sunshine Health Management Co., Ltd. plans to acquire 30.0%, 20.0%, and 20.0% equity of Gaomai Health from Guangdong Gaoshang Health Technology Group Co., Ltd., Xiamen Gaoshang Medical Imaging Diagnosis Center Co., Ltd., and Hefei Gaoshang Medical Imaging Diagnosis Center Co., Ltd., with a total consideration of 54 million yuan.

[Stock Highlights]

CNOOC (00883): Rising Oil Prices Drive Performance Improvement

As the situation in the Middle East continues to be tense, the international crude oil market is undergoing a new round of price reassessment. Industry observers point out that since the direct military conflict between Israel and Iran erupted last week, Brent crude oil futures prices have implied a geopolitical risk premium of about $8 per barrel. Market participants generally believe that if the U.S. actually intervenes in the conflict, this premium will further expand, but the specific extent still depends on the scale and nature of military actions.

CNOOC's financial indicators for 2024 are robust and improving, with strong growth in net profit attributable to shareholders. The company remains focused on its oil and gas main business, continuously increasing reserves and production. The oil and gas output and net profit margin have risen, and the comprehensive impact of international oil price fluctuations has led to an increase in net profit attributable to shareholders. The cost per barrel of oil has continued to decline, consolidating cost advantages. The cost per barrel of oil in 2024 is $28.52, down from $28.83 in 2023, a decrease of $1.08