Zhitong Hong Kong Stock Early Knowledge | JD.com's second-quarter revenue increased by 22.4% year-on-year. The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a joint statement on stablecoins

【Today’s Headlines】

Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority Issue Joint Statement on Stablecoin-Related Market Volatility

The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority have noted recent market volatility related to the concept of stablecoins. They urge the public to remain cautious, thoroughly analyze relevant information, and avoid making irrational investment decisions based solely on market speculation or price momentum. The public should remember that making well-considered and informed decisions in a volatile environment is crucial for reducing risk.

【Market Outlook】

NASDAQ Golden Dragon China Index Falls 2.13%

Overnight, U.S. stocks closed with the Dow Jones down 11.01 points, a decrease of 0.02%, closing at 44,911.26 points; the NASDAQ fell 2.47 points, a decrease of 0.01%, closing at 21,710.67 points; the S&P 500 index rose 1.96 points, an increase of 0.03%, closing at 6,468.54 points. Intel (INTC.US) rose 7.38%, the NASDAQ Golden Dragon China Index fell 2.13%, and Alibaba (BABA.US) fell 3.64%. The Hang Seng Index ADR declined, closing at 25,326.17 points, down 193.15 points or 0.76% compared to the Hong Kong close.

【Hot Topics Ahead】

People's Bank of China to Conduct 500 Billion Yuan Reverse Repo Operations

On August 14, the People's Bank of China announced that to maintain ample liquidity in the banking system, it will conduct 500 billion yuan of fixed-quantity, interest-rate tender, multi-price bidding reverse repo operations on August 15, with a term of six months. Wang Qing, Chief Macro Analyst at Dongfang Jincheng, believes that the People's Bank of China's reverse repo operations will help inject medium-term liquidity and signal the continued strengthening of quantity-based monetary policy tools.

Henry Group (03638) Plans to Establish Joint Venture with Innovation Works (02121) to Develop a Sustainable "AI + Financial Services" Dual-Driven Model

According to Zhitong Finance APP, Henry Group (03638) announced that on August 14, 2025, it will establish a joint venture named Henry Chain Technology Co., Ltd. with a wholly-owned subsidiary of Innovation Works Technology Group Co., Ltd. (Innovation Works), a company listed on the main board of the Hong Kong Stock Exchange (02121). The joint venture has an issued capital of 10 million Hong Kong dollars. The company holds an 80% stake in the joint venture, making it a subsidiary, and its performance will be consolidated into the group's financial statements.

JD Group-SW (09618) Reports Revenue of 356.7 Billion Yuan in Q2, Up 22.4% Year-on-Year, Continues to Expand into New Growth Areas

According to Zhitong Finance APP, JD Group-SW (09618) released its Q2 and interim results for 2025, reporting revenue of 356.7 billion yuan (RMB, same unit) in Q2, an increase of 22.4% year-on-year; net profit attributable to ordinary shareholders was 6.2 billion yuan; diluted earnings per American Depositary Share were 4.15 yuan; basic earnings per share were 2.17 yuan JD Logistics (02618) Releases First Half Results: Non-IFRS Profit Reaches 3.3 Billion Yuan, Up 7.1% Year-on-Year

According to Zhitong Finance APP, JD Logistics (02618) released its results for the three months ending June 30, 2025, with the group achieving revenue of 51.565 billion yuan (same unit below), an increase of 16.6% year-on-year; during the period, the non-IFRS profit was 2.588 billion yuan, up 5.4% year-on-year; profit attributable to the owners of the company was 2.129 billion yuan, an increase of 5.08% year-on-year.

JD Health (06618) Releases Interim Results, Revenue Up 24.5% Year-on-Year to 35.29 Billion Yuan

According to Zhitong Finance APP, JD Health (06618) released its interim results for the six months ending June 30, 2025, with the group achieving revenue of 35.29 billion yuan (same unit below), an increase of 24.5% year-on-year; during the period, the non-IFRS profit was 3.57 billion yuan, up 35% year-on-year; profit attributable to the owners of the company was 2.596 billion yuan, an increase of 27.45% year-on-year; basic earnings per share were 0.82 yuan.

MTR Corporation (00066) Releases Interim Results: Shareholders' Profit Attributable of 7.709 Billion HKD, Up 27.5% Year-on-Year, Interim Dividend of 0.42 HKD

According to Zhitong Finance APP, MTR Corporation (00066) released its interim results for the six months ending June 30, 2025, with total revenue of 27.36 billion HKD, a decrease of 6.5% year-on-year; shareholders' profit attributable was 7.709 billion HKD, an increase of 27.5% year-on-year; earnings per share were 1.24 HKD; an interim ordinary dividend of 0.42 HKD per share was declared.

Geely Automobile (00175): ZEEKR Group's Second Quarter Automotive Sales Revenue 22.916 Billion Yuan, Up 2.2% Year-on-Year, Up 20.0% Quarter-on-Quarter

According to Zhitong Finance APP, Geely Automobile (00175) released ZEEKR Group's unaudited financial performance for the second quarter of 2025, with automotive sales revenue of 22.916 billion yuan (same unit below), an increase of 2.2% year-on-year and an increase of 20.0% quarter-on-quarter. Total revenue for the second quarter of 2025 was 27.431 billion yuan, a decrease of 0.9% year-on-year and an increase of 24.6% quarter-on-quarter. The net loss for the second quarter of 2025 was 287 million yuan, a decrease of 88.8% year-on-year and a decrease of 62.4% quarter-on-quarter. Excluding share-based compensation expenses, the adjusted net loss (non-GAAP) for the second quarter of 2025 was 257 million yuan, a decrease of 84.2% year-on-year and a decrease of 59.8% quarter-on-quarter.

Minxin Group (00222) Issues Earnings Upgrade: Expected Shareholders' Profit Attributable for First Half Around 60-70 Million HKD, Up Approximately 80%-110% Year-on-Year

According to Zhitong Finance APP, Minxin Group (00222) announced that the group expects to achieve shareholders' profit attributable of approximately 60 million to 70 million HKD for the six months ending June 30, 2025, an increase of approximately 80% to 110% compared to the same period in 2024 NetEase-S (09999) Announces Interim Results: Net Profit Attributable to Shareholders is RMB 18.902 Billion, Up 31.33% Year-on-Year

According to Zhitong Finance APP, NetEase-S (09999) announced its Q2 2025 results, with net revenue of RMB 27.9 billion (USD 3.9 billion), an increase of 9.4% year-on-year. Gross profit was RMB 18.1 billion (USD 2.5 billion), up 12.5% year-on-year. Net profit attributable to shareholders was RMB 8.6 billion (USD 1.2 billion), a year-on-year increase of 27.26%; basic earnings per share were USD 0.38, with a Q2 dividend of USD 0.1140 per share.

NetEase Cloud Music (09899) Releases Interim Results: Profit Attributable to Shareholders is RMB 1.885 Billion, Up 132.83% Year-on-Year

According to Zhitong Finance APP, NetEase Cloud Music (09899) released its interim results for the six months ending June 30, 2025, with revenue of RMB 3.827 billion (same unit); profit attributable to equity holders was RMB 1.885 billion, an increase of 132.83% year-on-year; basic earnings per share were RMB 8.96; adjusted net profit was RMB 1.946 billion, up 120.99% year-on-year.

Xinqi'an (02573) Issues Earnings Upgrade: Expected Profit Growth of 500%–600% in the First Half of the Year

According to Zhitong Finance APP, Xinqi'an (02573) announced that the group expects revenue growth of 50%–60% in the first half of 2025, with profit growth of 500%–600%. The significant increase in expected performance is mainly due to the rise in sales of the group's main products, sucralose and food-grade glycine, leading to increased revenue and gross profit during the period.

Weilong Delicious (09985) Announces Interim Results: Profit Attributable to Shareholders is Approximately RMB 733 Million, Up 18% Year-on-Year

According to Zhitong Finance APP, Weilong Delicious (09985) announced its interim results for 2025, with total revenue of approximately RMB 3.483 billion, an increase of 18.5% year-on-year; gross profit was approximately RMB 1.6424 billion, up 12.3% year-on-year; profit attributable to shareholders was approximately RMB 733 million, a year-on-year increase of 18%; basic earnings per share were RMB 0.31, with a proposed interim dividend of RMB 0.18 per ordinary share.

Broad Group (02789) Issues Earnings Upgrade: Expected Net Profit to Increase to Approximately RMB 150 Million - 210 Million in the First Half of the Year

According to Zhitong Finance APP, Broad Group (02789) announced that the group expects to achieve a net profit of approximately RMB 150 million - 210 million in the first half of 2025, compared to a net profit of RMB 6 million in the same period of 2024.

China Telecom (00728) Releases Interim Results: Profit Attributable to Shareholders is RMB 23.017 Billion, Up 5.52% Year-on-Year

According to Zhitong Finance APP, China Telecom (00728) released its interim results for the six months ending June 30, 2025, with operating revenue of RMB 271.469 billion (same unit), an increase of 1.3% year-on-year; profit attributable to shareholders was RMB 23.017 billion, up 5.52% year-on-year; basic earnings per share were RMB 0.25, with a proposed interim dividend of RMB 0.1812 per share Minsheng International (00938) Issues Earnings Upgrade: Expected to Achieve Pre-tax Profit of Approximately HKD 437 Million to HKD 483 Million for the Half-Year, Turning Losses into Profits Year-on-Year

According to Zhitong Finance APP, Minsheng International (00938) announced that the group expects to achieve a pre-tax profit of between HKD 437 million and HKD 483 million for the six months ending September 30, 2025, compared to a pre-tax loss of HKD 175 million in the same period of 2024.

Tianan (00028) Issues Earnings Upgrade: Expected Shareholder Profit to Surge to Approximately HKD 2.2 Billion - HKD 2.4 Billion for the First Half

According to Zhitong Finance APP, Tianan (00028) announced that the group expects to achieve a profit attributable to shareholders of approximately HKD 2.2 billion to HKD 2.4 billion for the first half of 2025, a significant increase from approximately HKD 78 million in the same period of 2024. The expected increase in attributable profit is mainly due to the rise in gross profit, primarily from the revenue recognized after the delivery of units in the Tianan No. 1 Phase II (Area C) residential project in Shanghai, China, to customers at the beginning of 2025.

Cornerstone Pharmaceuticals-B (02616) Releases Interim Results: R&D Expenses of RMB 105 Million, Up 58.75% Year-on-Year

According to Zhitong Finance APP, Cornerstone Pharmaceuticals-B (02616) released its interim results for the six months ending June 30, 2025, reporting revenue of RMB 49.451 million, a year-on-year decrease of 80.54%; R&D expenses of RMB 105 million, a year-on-year increase of 58.75%; and a loss of RMB 270 million for the period, with a basic loss per share of RMB 0.21.

Hong Kong New Stock Yinnuo Pharmaceuticals-B (02591) Surges Over 260% in Dark Market

The Hong Kong new stock Yinnuo Pharmaceuticals-B surged over 260% in the dark market, trading at HKD 68.5. Founded in 2014, Yinnuo Pharmaceuticals is a biopharmaceutical company dedicated to providing high-quality drugs for patients with diabetes and metabolic diseases. The prospectus shows that the net proceeds from the global offering are approximately HKD 610 million, of which about 90% will be used for ongoing and planned clinical trials and the planned commercialization of the core product, IsuPaglutide α; the remainder will be used for working capital and general corporate purposes.

【Stock Highlights】

Weibo-SW (09898) Announces Interim Results: Net Profit Attributable to Weibo Shareholders Approximately USD 233 Million, Up 44.17% Year-on-Year

According to Zhitong Finance APP, Weibo-SW (09898) announced its Q2 2025 results, reporting net revenue of approximately USD 445 million, a year-on-year increase of 2%. The net profit attributable to Weibo shareholders was approximately USD 126 million, a year-on-year increase of 12.29%; basic net earnings per share were USD 0.53. The monthly active users in June 2025 were 588 million, with daily active users averaging 261 million