【HEADLINES】1. U.S. stocks fell sharply on Thursday (20th), pressured by rising U.S. bond yields, surging oil prices, and heightened Middle East tensions, which boosted investor risk aversion. The Dow Jones closed down 703.84 points, or 1.32%, at 52,759.21 points; the S&P 500 dropped 66.82 points, or 0.87%, to 7,641.16 points; the Nasdaq declined 263.92 points, or 1%, to 26,067.17 points. The China Golden Dragon Index fell 73 points. The Nikkei opened at 65,198 points, down 73 points.

2. U.S. Treasury Secretary Bessent stated that the Treasury might further expand the scale of Treasury buybacks, with individual buyback amounts possibly exceeding $4 billion. However, the yield on 30-year U.S. Treasury bonds rose 7.45 basis points to 5.2656%, returning to pre-announcement levels. The yield on 10-year U.S. Treasuries rose 6.54 basis points to 4.712%, while the yield on the more rate-sensitive 2-year Treasury rose 3.78 basis points to 4.2002%.

3. The United States will unveil its plan next Monday (24th) to economically isolate Iran and its trading partners. China, as a major buyer of Iranian oil, may see renewed tensions with the U.S. over oil issues.

4. Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that she currently sees no evidence requiring the Fed to raise interest rates prematurely, and recent employment and inflation data are not sufficient to alter her outlook on the economic outlook.

5. The U.S. Labor Department reported that the number of initial jobless claims for the week ended August 15 decreased by 6,000 week-on-week to 206,000, below the market expectation of 210,000; the previous week's figure was revised upward from 209,000 to 212,000.

6. Anthropic is expected to match or even surpass the IPO record set by SpaceX, with plans to publicly file IPO-related documents as early as the end of this month.

7. SpaceX experienced its second share unlock after going public overnight, involving up to approximately 319 million shares, about 7% of shares held by early investors and employees. SpaceX's stock price fell more than 4%, hitting a low of $132.61, falling below its IPO issue price of $135 per share once again.

8. According to the Composite Consumer Price Index, Hong Kong's overall consumer prices rose 1.7% year-on-year in July, lower than the 2.0% increase in June, in line with market expectations.


【STOCK HIGHLIGHTS】Alibaba (09988)
  -  First-quarter adjusted profit dropped 38%, missing expectations, with free cash flow net outflow of RMB 44.7 billion
  -  Revenue from AI cloud and computing power services rose 45% year-on-year, while revenue from AI labs and applications rose 16% year-on-year
  -  Management stated it should be able to recoup overall AI investment within three years
  -  Overnight ADR opened lower but recovered, falling over 5% before rising over 1%

Ping An Insurance (02318)
  -  Mid-year net profit rose 36.1% to RMB 92.59 billion, dividend RMB 0.98 per share
  -  New business value in life and health insurance operations reached RMB 24.847 billion, up 11.2% year-on-year
  -  Average new business value per agent channel increased 14.1% year-on-year in the first half of the year

Pop Mart (09992)
  -  Mid-year net profit rose 10.1% to RMB 5.04 billion, no dividend declared
  -  Revenue in China region grew 47.3%, while revenue in the Americas declined 16.5%
  -  Chairman Wang Ning stated that the goal of achieving annual growth of no less than 20% cannot be met
  -  Will initiate up to RMB 5 billion in share buybacks within the next six months

NetEase (09999)
  -  Adjusted net profit for the second quarter fell 18.7% to RMB 7.75 billion, dividend USD 0.096 per share
  -  NetEase ADR fell 5.85% overnight

Li Ning (02331)
  -  Mid-year profit exceeded RMB 1.8 billion, up 5%, dividend of 35.12 cents up nearly 5%, retail low single-digit growth

Kuaishou (01024)
  -  Spent RMB 300 million yesterday to repurchase 8.82 million shares

NetEase Cloud Music (09899)
  -  Mid-year net profit fell 57.1% to RMB 810 million, no dividend declared

CITIC Securities (06030)
  -  Mid-year profit rose 70% to RMB 23.3 billion, dividend of 42.7 cents up 47%

Henderson Land (00012)
  -  Mid-year net profit rose 40.6% to HKD 4.09 billion, dividend of 50 cents

China Telecom (00728)
  -  Mid-year net profit fell 14.9% to RMB 19.59 billion, dividend of RMB 0.1606

China Power (02380)
  -  Mid-year profit nearly RMB 1.3 billion, down 51%, no dividend, revenue down 6%

Evergrande Property (06666)
  -  Announced that certain potential buyers have commenced due diligence after the first-instance ruling in the Evergrande case

Tianshu ZHIXIN (09903)
  -  Proposed capitalization of reserves, each share entitled to two new shares, involving issuance of 540 million new shares

Hans Technology (03200)
  -  Mid-year net profit nearly tripled to RMB 960 million, no dividend declared

Simcere Pharmaceutical (02096)
  -  Mid-year profit exceeded RMB 800 million, up 38%, no dividend declared, allocated up to RMB 1 billion for share buybacks

3SBio (01530)
  -  Mid-year profit nearly RMB 1.2 billion, down 16%, no dividend declared, revenue up 4%

WuXi AppTec (03759)
  -  Mid-year net profit rose 7% to RMB 750 million, no dividend declared

CanSino Bio (06185)
  -  New drug application for tetanus vaccine approved, granted exclusive promotion rights in Greater China to YuanDa Life

Muyuan Shares (02714)
  -  Mid-year profit swung to a huge loss of RMB 6.1 billion, no dividend declared, revenue down 22% due to sharp decline in hog prices

China Duty Free Group (01880)
  -  Mid-year profit RMB 3.1 billion, up 20%, no dividend declared, revenue down 2%

Weigong Holdings (01793)
  -  Chairman Zeng Jiaye potentially selling 75% stake to TPGL, signed memorandum, resumed trading this morning

【OIL & GOLD QUOTES】