Zhitong Hong Kong Stock Early Knowledge | The People's Bank of China Expands Gold Reserves for 9 Consecutive Months

【Today's Headlines】

China's Central Bank Expands Gold Reserves for Nine Consecutive Months, Aiding Diversification of Foreign Reserves

In July, China's central bank increased its gold reserves, marking the ninth consecutive month of expansion, which helps to diversify its foreign exchange reserve structure away from the US dollar. According to data released on Thursday, the central bank's gold reserves increased by 60,000 ounces at the end of July, reaching 73.96 million ounces. Since November of last year, the total purchase amount has reached approximately 36 tons.

【Market Outlook】

US Stocks Mixed Overnight, Most Popular Chinese Stocks Rise

Overnight, US stocks closed mixed, with the Dow Jones Industrial Average down 224.48 points, a decline of 0.51%, closing at 43,968.64 points; the Nasdaq rose 73.27 points, an increase of 0.35%, closing at 21,242.7 points; the S&P 500 index fell 5.06 points, a decline of 0.08%, closing at 6,340 points. New stock Firefly Aerospace (FLY.US) rose 34.11% on its first day of trading, while WhiteFiber (WYFI.US) fell 4.59% on its debut. AMD rose over 5%, and Apple rose over 3%. Most popular Chinese stocks rose, with Miniso rising over 3%. The Hang Seng Index ADR fell, closing at 24,979.45 points, down 102.18 points or 0.41% compared to the Hong Kong close.

COMEX gold futures for the current month rose by $20.30, an increase of 0.59%, closing at $3,453.7 per ounce.

【Hot Topics Ahead】

World's First RWA Registration Platform Officially Launched in Hong Kong

According to the Zhitong Finance APP, the world's first RWA registration platform officially launched on August 7, initiated by the Hong Kong Web3.0 Standardization Association, which will facilitate the entire service system for the documentation, assetization, and financialization of RWA asset tokenization. On the same day, three Web3.0 standards were established, including "RWA Tokenization Business Guidelines," "RWA Tokenization Technical Specifications," and "Blockchain-based Stablecoin Cross-border Payment Technical Specifications."

The "RWA Industry Development Research Report · Industry Volume 2025" was released in Hong Kong, systematically proposing standards and frameworks for RWA asset selection. Previously, with the rapid development of the tokenization trend for real-world assets, the market has been rife with the notion that "everything can be RWA." The report points out that not all assets are suitable for RWA tokenization, and the idea that "everything can be RWA" is a fallacy. Successfully achieving large-scale implementation of assets requires meeting three major thresholds: value stability, clear legal rights, and verifiable off-chain data.

China Mobile (00941) Releases Interim Results, Shareholder Profit of 84.235 Billion Yuan, Up 5.03% Year-on-Year

According to the Zhitong Finance APP, China Mobile (00941) released its interim results for 2025, reporting operating revenue of 543.769 billion yuan, unchanged year-on-year; shareholder profit of 84.235 billion yuan, an increase of 5.03% year-on-year; basic earnings per share of 3.9 yuan, with an interim dividend proposed of 2.75 Hong Kong dollars per share At the performance briefing, Yang Jie, Chairman of China Mobile, mentioned that traditional communication demand is nearing saturation, and the demographic dividend is gradually fading. With a population of 1.4 billion, the total number of mobile phone users has reached 1.8 billion. Voice and SMS services are experiencing continuous negative growth, while data traffic is in a stable growth period. New information services are still in the cultivation and development stage, such as AI, which will take some time to generate revenue. Market competition is further intensifying, with many high-data and low-price data cards sold online. Number portability, originally intended to improve service and provide customers with choices, has now evolved into a means of vicious competition, with many instances of non-compliance and unfair competition appearing in number portability.

CHIFENG GOLD (06693): First resource estimation results released for the SND project at the Sepon gold-copper mine in Laos

CHIFENG GOLD announced that its subsidiary, Vientiane Mining, has completed the first phase of resource exploration for the SND gold-copper mine project. SRK Consulting Ltd. has issued a mineral resource estimation report for the Sepon SND gold-copper project in accordance with JORC standards. The report indicates that the SND gold-copper mine project is located in Sepon County, Savannakhet Province, Laos, and is classified as a porphyry-type gold-copper deposit. As of June 30, 2025, the estimated total mineral resource is 131.5 million tons, with a gold equivalent grade of 0.81 grams/ton, amounting to approximately 10.69 tons of gold equivalent metal. The project plans to resume drilling after the rainy season to increase and upgrade mineral resources.

Innovent Biologics (01801) Reports total product revenue exceeding RMB 5.2 billion in the first half of the year, maintaining strong growth of over 35% year-on-year

According to Zhitong Finance APP, Innovent Biologics (01801) announced that in the first half of 2025, the company achieved total product revenue exceeding RMB 5.2 billion, maintaining strong growth of over 35% year-on-year. In the second quarter of 2025, total product revenue exceeded RMB 2.7 billion, with a year-on-year growth of over 30%. The continuous growth in this quarter is attributed to the dual drivers of oncology and comprehensive pipeline.

TianTu Investment (01973) Issues profit warning, expects to achieve a net profit of approximately HKD 60 million to HKD 90 million for the interim period, turning losses into profits year-on-year

According to Zhitong Finance APP, TianTu Investment (01973) announced that for the six months ending June 30, 2025, the group expects to achieve a net profit of approximately RMB 60 million to RMB 90 million, compared to a net loss of approximately RMB 742 million in the same period last year. The turnaround from a net loss in the first six months of 2024 to profitability in the same period this year is mainly due to the increase in the fair value of the group's investment portfolio, leading to an increase in the amount of financial assets measured at fair value with changes recognized in profit or loss for the period.

Wanshi Chang International (00898) Issues profit warning, expects interim comprehensive profit before tax of approximately HKD 280 million to HKD 320 million, an increase year-on-year

According to Zhitong Finance APP, Wanshi Chang International (00898) announced that it expects to achieve a comprehensive profit before tax of approximately HKD 280 million to HKD 320 million for the six months ending June 30, 2025, compared to a comprehensive profit before tax of approximately HKD 167 million for the six months ending June 30, 2024 Mingyuan Cloud (00909): Expected interim net profit of RMB 12.09 million to RMB 15.41 million, turning losses into profits

Mingyuan Cloud announced that for the six months ending June 30, 2025, the group expects to record a net profit attributable to shareholders of approximately RMB 12.09 million to RMB 15.41 million during the reporting period. In contrast, the group recorded a net loss attributable to shareholders of approximately RMB 115.37 million in the same period last year.

Chen Chang International (00693): ZERO CO., LTD. annual profit attributable to parent company of JPY 7.179 billion, an increase of 73% year-on-year

According to Zhitong Finance APP, Chen Chang International (00693) announced the financial performance of its subsidiary ZERO CO., LTD. for the year ending June 30, 2025. The group achieved sales revenue of JPY 147.843 billion, an increase of 5% year-on-year; operating income of JPY 10.228 billion, an increase of 64.4% year-on-year; profit attributable to shareholders of JPY 7.179 billion, an increase of 73% year-on-year; basic earnings per share of JPY 423.91.

Baguio Green Group (01397) issues profit warning, expects interim profit after tax to increase by no less than 125%

According to Zhitong Finance APP, Baguio Green Group (01397) announced that the group expects to achieve an interim profit after tax of no less than HKD 58 million for the six months ending June 30, 2025, an increase of no less than 125% compared to HKD 25.8 million for the six months ending June 30, 2024.

MGM China (02282) announces interim results, net profit of HKD 2.383 billion, a decrease of 11.25% year-on-year

According to Zhitong Finance APP, MGM China (02282) announced its interim results for 2025, with operating revenue of approximately HKD 16.661 billion, an increase of 2.73% year-on-year; profit attributable to owners of the company of HKD 2.383 billion, a decrease of 11.25% year-on-year; basic earnings per share of HKD 0.628, and an interim dividend of HKD 0.313 per share.

Hutchison China MediTech (00013) releases interim results, net profit attributable to shareholders of USD 455 million, an increase of 1663.32% year-on-year

According to Zhitong Finance APP, Hutchison China MediTech (00013) released its interim results for 2025, with total revenue of USD 278 million, a decrease of 9.16% year-on-year; net profit attributable to shareholders of USD 455 million, an increase of 1663.32% year-on-year; basic earnings per ordinary share of USD 0.53.

Decon Agricultural and Animal Husbandry (02419) issues profit warning, expects interim profit before fair value adjustment of biological assets to increase to approximately RMB 1.1 billion - 1.4 billion year-on-year

According to Zhitong Finance APP, Decon Agricultural and Animal Husbandry (02419) announced that the group expects to achieve a profit before fair value adjustment of biological assets of approximately RMB 1.1 billion to RMB 1.4 billion for the six months ending June 30, 2025, compared to a profit of approximately RMB 363 million for the same period in 2024 Expected profit growth is mainly attributed to the company's management efficiency, further enhancement of scale effects, and continuous decline in hog costs.

Semiconductor Manufacturing International Corporation (00981) reports second-quarter results, with a profit attributable to shareholders of $132 million and third-quarter revenue guidance indicating a quarter-on-quarter growth of 5% to 7%

According to the Zhitong Finance APP, Semiconductor Manufacturing International Corporation (00981) released its second-quarter results for the three months ending June 30, 2025. The group achieved revenue of $2.209 billion, an increase of 16.2% year-on-year, and a decrease of 1.7% quarter-on-quarter; the profit attributable to shareholders was $132 million, a decrease of 19.5% year-on-year and a decrease of 29.5% quarter-on-quarter; earnings per share were $0.02. Semiconductor Manufacturing International Corporation provided guidance for the third quarter of 2025, expecting a quarter-on-quarter revenue growth of 5% to 7% under International Financial Reporting Standards, with a gross margin ranging from 18% to 20%.

【Stock Highlights】

Huahong Semiconductor (01347) reports second-quarter results, with a profit attributable to parent company shareholders of $7.952 million, an increase of 19.2% year-on-year

According to the Zhitong Finance APP, Huahong Semiconductor (01347) released its second-quarter results for 2025, with sales revenue of $566 million, an increase of 18.3% year-on-year; the profit attributable to parent company shareholders was $7.952 million, an increase of 19.2% year-on-year; basic earnings per share were $0.005.

Guidance for the third quarter of 2025: expected sales revenue between $620 million and $640 million, with an expected gross margin of approximately 10% to 12%