Alibaba and Meituan's Subsidy War Sparks Collective Gains for New-Generation Tea Brands | Today's Important News Review

0707 ｜Dolphin Research Key Focus:

🐬 Macro/Industry

1. On Monday, U.S. President Trump posted on Truth Social stating, "I am pleased to announce that tariff letters and agreements with countries around the world will begin to be issued at 12:00 PM Eastern Time on July 7th (early Tuesday morning Beijing time)." U.S. Treasury Secretary Besent indicated that for countries failing to reach a trade agreement with the U.S. by August 1st, tariff rates will revert to the "reciprocal tariffs" level announced in April. The new tariff rates are expected to take effect on August 1st. Trump's increased pressure, while potentially accelerating negotiation processes for some countries, may also provoke strong reactions from trade partners, further exacerbating global trade tensions.

2. Today, Hong Kong's tea beverage sector stocks collectively strengthened, with Dolphin Research's continuously tracked Gu Ming rising over 8% and Mixue Bingcheng nearly 6%. On the news front, on the evening of July 5th, Alibaba and Meituan launched the largest subsidy battle in history, significantly benefiting tea beverage stocks under the substantial subsidies from both platforms. However, Meituan and Alibaba face pressure, as high subsidies can stimulate consumption and increase order volume in the short term, but the subsidy war may compress profit margins, necessitating long-term attention to user retention and profitability improvement.

3. According to Hong Kong Ming Pao, the Hong Kong "Stablecoin Ordinance" will take effect in August. Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that the Hong Kong Monetary Authority is currently consulting the market on implementing the ordinance guidelines, with specific content to be announced within this month, involving anti-money laundering and other related requirements. By introducing a licensing system, Hong Kong has taken an important step in balancing risk control and promoting industry development, potentially enhancing its competitiveness as an international financial center and attracting more fintech companies and related businesses, forming a long-term positive for the fintech sector in the Hong Kong stock market.

🐬 Leading Sectors

Shanghai and Shenzhen: Various public utilities, electric utilities, diversified capital markets;

Hong Kong Stocks: Tobacco, transaction and payment services, sports equipment and other leisure products;

U.S. Stocks: Marine ports - operators, cloud and data centers, security and alarm services.

🐬 Focus for Tomorrow

1. New York Fed's 1-year inflation expectations.

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