[Today's headlines]
The overall thermal coal price index adjustment agency says it pays attention to the serious mismatch between supply and demand that may occur
On August 5, the thermal coal price index was adjusted across the board, and 5,500 kcal was reported to be 839 yuan/ton, up 5 yuan/ton. According to reports, the supply side is still tight. Great Wall Securities pointed out that the current comprehensive operating rate in Jinshan, Shaanxi, and Mongolia has been declining since the May 22 coal mine bombing in Shanxi. The operating rate in Shanxi is greatly affected. Attention is paid to the serious mismatch between supply and demand that may occur in summer.
Changjiang Securities pointed out that in 2026, the coal industry faces a nuclear capacity reduction window. The effective supply of thermal coal is expected to decrease by 1.9% year on year to 3.806 billion tons, putting pressure on short-term supply; at the same time, “anti-internal circulation” efforts on the policy side continue to stabilize coal prices through overproduction checks. The average price of thermal coal in Qingang rebounded 13.2% year on year to 767 yuan/ton in the first half of 2026.
It involves the Hong Kong coal sector: China Shenhua (01088), Mongolia Energy (00276), Power Development (01277), Yankuang Energy (01171), China Coal Energy (01898), Yi Dazong (01733), etc.
[General outlook]
The Dow Jones Index ended five consecutive gains, and memory chips opened low and went high
Overnight, the Dow Jones Industrial Average fell 464.02 points from the previous trading day, ending five consecutive daily gains, closing at 53885.1 points, or 0.85%; the S&P 500 stock index fell 13.59 points to close at 7709.96 points, or 0.18%; and the Nasdaq Composite Index fell 15.09 points to close at 26348.35 points, or 0.06%.
Major technology stocks had mixed ups and downs. SpaceX rose more than 6%, the total market capitalization rose back to 1.5 trillion US dollars, Microsoft rose more than 2%, Apple and Meta rose slightly; Google, Amazon, Netflix, and Tesla fell slightly. Memory chips opened low and went high. Most of them closed down sharply. Western Digital fell more than 13%, SanDisk fell nearly 7%, SK Hynix fell nearly 5%, AI application software stocks plummeted, and Datadog and AppLovin fell more than 19%.
Popular Chinese securities had mixed ups and downs. The Nasdaq China Golden Dragon Index rose 0.27%, and Zaiding Pharmaceuticals rose more than 13%. The Hang Seng Index ADR declined. On a proportional basis, it closed at 25568.36 points, up 38.08 points or 0.15% from the Hong Kong closing.
WTI crude oil futures on the New York Mercantile Exchange rose $3.01 for the month to close at $78.23 a barrel, or 4.00%. COMEX gold futures fell $6.50 in consecutive contracts during the month, or 0.15%, to $4298.7 per ounce.
[Hot Topics Preview]
US considers delaying tariffs on polysilicon-related products
Trump administration officials are considering delaying the planned tariffs on solar panels and other polysilicon-containing products for several months. People familiar with the matter said that US President Trump may order the implementation of the relevant tariffs as soon as Thursday, but officials are considering setting a transition period of 90 to 120 days. According to reports, this arrangement may prompt companies involved in US renewable energy projects to speed up imports before tariffs are officially imposed.
World Gold Council: Net inflow of $3 billion from global gold ETFs in July
According to a report released by the World Gold Council, global gold ETFs recorded a net inflow of 3 billion US dollars in July, ending the previous two consecutive months of capital outflows. Driven by capital inflows and rising gold prices, the global gold ETF asset management scale rose to US$530 billion, an increase of 1% over the previous month; gold ETF holdings increased 23 tons to 4,068 tons.
DeepSeek plans to increase API service pricing
DeepSeek announcement: “We plan to increase the overall pricing of the DeepSeek API service in the near future. The increase is expected to be significant, so please make reasonable arrangements for your use. The specific plan is subject to the official notice.” It involves the big AI model sector of the Hong Kong stock market.
Alibaba (09988) Video Generation Big Model Wan 3.0 Starts Open Beta
The Zhitong Finance App learned that on August 6, Alibaba's (09988) video generation model Wan 3.0 began public testing. Wan3.0 has been fully upgraded in terms of generation time, versatile creation, all-round reference, and realism: it can generate a 30-second video at a time to fully express creative intent; in addition to the four basic modes of text, image, audio, and video, it supports document format input such as doc, xls, ppt, pdf, MD for the first time; strives to accurately restore the real world — thousands of people, and every frame is realistic and believable.
Hengrui Pharmaceutical (01276): The third indication of Ruikang trastuzumab for injection was approved for marketing
Currently, Ruikang trastuzumab has 11 indications included in the breakthrough treatment list, covering non-small cell lung cancer, breast cancer, gastric or gastroesophageal junction adenocarcinoma, colorectal cancer, biliary tract cancer, and gynecological malignancies.
Jinjing Xinneng (01783) spent 1,288.4 billion yuan to purchase high-performance servers and increase the layout of cloud computing and intelligent computing tracks
According to the company's earlier disclosure, Jin Jing Xinneng plans to acquire target shares (that is, the entire issued share capital of the target company YV CLOUD Limited and the operating company Shanghai Youfu Cloud Computing Co., Ltd.) from the seller Yovole Cayman, at a maximum cost of no more than HK$2.5 billion. The acquisition of the target group, which is mainly engaged in providing cloud computing capability services, marks the strategic expansion of the Group's business into the field of intelligent computing.
Pharmaceutical Jieankang-B (02617): Jientai® (tengotinib tablets) was approved for marketing by the State Drug Administration
The drug Jieankang-B (02617) announced that the new class 1 drug Jientai® (tengotinib tablets) independently developed by the company has been conditionally approved for marketing by the National Drug Administration (NMPA) for the treatment of adults with advanced, metastatic, or inoperable cholangiocarcinoma who have received systemic treatment and FGFR inhibitor treatment in the past and have fibroblast growth factor receptor (FGFR) 2 fusion or rearrangement. Previously, the treatment was included by NMPA as a priority review and a breakthrough treatment category.
The Congo prohibits the export of copper concentrate and cobalt concentrate to the Luoyang Molybdenum Industry (03993): the company's local products are cathode copper and cobalt hydroxide
Recently, a government order prohibiting the export of copper-cobalt concentrates signed by the Congolese government at the end of June disrupted the capital market. In response, a person related to the Luoyang Molybdenum Industry posted a WeChat circle of friends saying that the products of the company's TFM and KFM mines in the Congo are cathode copper and cobalt hydroxide, and there are no concentrates. An industry source explained that Luoyang Molybdenum's local mine in the Congo integrates mining, selection and metallurgy, using an electrodeposition process. The end product is indeed cathode copper, so the ban has little impact on the company.
MGM China (02282) announced interim results. Profit attributable to owners was approximately HK$1.9 billion, a decrease of 20.24% year-on-year
MGM China (02282) announced its 2026 interim results, with operating income of approximately HK$17.392 billion, up 4.39% year on year; profit attributable to company owners was approximately HK$1.9 billion, down 20.24% year on year; basic profit per share was HK$50.1 cents, with an interim dividend of HK$0.25 per share.
IPO Undermarket | Nason Technology (02261) closed up more than 60%, earning HK$628 per lot
Nason Technology (02261) will be listed in Hong Kong on August 7 (Friday). By the close, Livermore Securities undercover trading showed a price of HK$16.7, up 60.27% from the offering price of HK$10.42. Each lot earned HK$628 for 100 shares without handling fees.
MONGOL MINING (00975) is expected to achieve comprehensive net profit of about 100 million to 110 million US dollars in the first half of the year, turning a year-on-year loss into a profit
The Group expects to achieve a consolidated net profit of about US$100 million to US$110 million in the first half of 2026 and a consolidated net loss of US$19.9 million in the first half of 2025. The relevant profit was mainly due to an increase in the sales volume of washed coking coal and an increase in the average selling price, which led to an increase in the revenue generated by the Group during the reporting period compared to the same period in 2025, as well as net income from gold mine commissioning and other net revenue.
Baiosaitu-B (02315) Fa Yingxi expects net profit of 236 million yuan to 246 million yuan in the first half of the year, an increase of 391.87% to 412.71% year-on-year
Net profit attributable to owners of the parent company after deducting non-recurring profit and loss is expected to be achieved in the first half of 2026 of RMB 192 million to RMB 202 million. Compared with the same period of the previous year, it will increase by RMB 164 million to RMB 174 million, an increase of 574.02% to 609.04% over the previous year.
[Individual stock prices are clear]
Pacific Shipping (02343): Profit attributable to shareholders of US$105 million increased by 310.35% year-on-year
According to the Zhitong Finance App, Pacific Shipping (02343) announced interim results for the six months ended June 30, 2026. The group achieved turnover of US$1,105 billion, up 8.52% year on year; profit attributable to shareholders of US$105 million, up 310.35% year on year; basic profit per share of 2.06 US cents; and proposed interim dividend of HK15.5 cents per share.
According to the announcement, in the first half of 2026, the Group's core business contributed US$124 million (before management expenses), an increase of 144% over the first half of 2025. The Group's average daily revenue of Xiaoling and Super Flexible dry bulk carriers was US$14,200 and US$16,600, respectively, higher than the market index by US$1,950 and US$2,370, respectively. This outstanding performance highlights the value of the Group's integrated platform and continues the Group's long record of surpassing freight market benchmarks. By combining rare reverse freight with more common smooth shipping, the Group optimizes trade models, reduces empty flight segments and increases the employment rate of cargo ships. At the same time, the Group makes good use of high-value consolidation, deck freight and other bulk cargo businesses to further increase employment rates and average daily income and returns based on equal terms of lease agreements.