Guangzhou's first downtown duty-free shop opens, China Duty Free surges intraday; GoerTek hits limit-up | Today's Important News Recap

0826 | Dolphin Research Focus:

🐬 Macro/Industry

1. According to foreign media reports, Trump signed an executive order to remove Federal Reserve Governor Lisa Cook from her position on the grounds of "alleged mortgage fraud," effective immediately. This unprecedented move marks a significant escalation in his offensive against the Federal Reserve. Following the announcement, the dollar fell sharply, gold surged, and the U.S. Treasury yield curve steepened, reflecting concerns over the Fed's independence and long-term inflation expectations.

2. The National Press and Publication Administration officially announced the game license approval results for August 2025, with a total of 166 domestic online games and 7 imported online games approved, reaching a monthly total of 173, a new high for the year. Major companies like NetEase, 37 Interactive Entertainment, Tencent, and Bilibili all had new products approved, with prosperity and performance flexibility improving simultaneously.

🐬 Individual Stocks

1. $CTG DUTY-FREE(01880.HK)

Guangzhou's first downtown duty-free store opened today, with multiple downtown duty-free stores entering the landing cultivation stage. This duty-free store adopts an innovative shopping model of "duty-free + taxed," "imported + domestic," and "offline + online." The duty-free area is open to travelers who will depart by air or international cruise within 60 days, while the taxed area is open to all citizens and travelers. Overseas consumers can also enjoy the "buy and refund immediately" service for tax refunds upon departure. From the stock price reaction, the market has shown a positive response to China Duty Free's move, with an intraday increase of over 8%, reflecting investors' expectations for its future performance growth.

2. $Goertek(002241.SZ)

GoerTek hit the limit up in the afternoon, having previously invested $100 million to secure a 25% stake in Micro-LED leader Plessey and plans to acquire 100% equity of Shanghai Olai, further upgrading its AR waveguide + integrated device capabilities. More importantly, Meta's glasses are about to be released, with GoerTek as the core OEM, enhancing order visibility. Additionally, Apple's September event is expected to bring the iPhone 17 series and the next-generation AirPods, with GoerTek as the second-largest OEM for AirPods, having obtained the NPI qualification for the 2026 AirPods model. Coupled with the collective strength of consumer electronics in the afternoon, GoerTek surged accordingly.

3. Dolphin Research Focus on Earnings Reports and Conference Call Minutes

Pinduoduo: "Pinduoduo: Back to the Money Tree? Can't Compete with Management's 'Forced Kneeling'", "Pinduoduo (Minutes): Yet Another Self-Inflicted Cut!"

BYD, Nongfu Spring, Beike, and Gu Ming announced their earnings reports, and Dolphin Research will track and provide interpretative analysis.

🐬 Leading Sectors

Shanghai and Shenzhen: Data processing and outsourcing services, highway freight, diversified chemicals

Hong Kong Stocks: Sports equipment and leisure products, security and alarm services, distributors;

U.S. Stocks: Diversified chemicals, marine ports - operators, video games and multimedia

🐬 Focus for Tomorrow

1. Meituan, China Duty Free, Anta, Mixue, BOE, etc., to announce earnings reports

Risk Disclosure and Statement of this Article: Dolphin Research Disclaimer and General Disclosure