[Today's headlines]
Yao Ming Kant: US court rules on company's preliminary injunction motion
On August 9, Yao Ming Kangde announced that the company issued a “Voluntary Notice” on June 12, 2026, to file a lawsuit against the US Department of Defense's determination that Yao Ming Kangde was included in the Department of Defense's 1260H list. Yao Ming Kangde strongly opposes this erroneous 1260H determination and has taken legal action to protect the interests of the company and its shareholders, employees, partners and customers. Following the company's lawsuit against the Department of Defense on June 11, 2026, the company filed a preliminary injunction motion with the U.S. District Court for the District of Columbia on June 29, 2026, seeking to prohibit the Department of Defense from enforcing, enforcing, or taking any other action based on the 1260H determination.
The court heard the motion on July 22, 2026. On August 7, 2026, US time, the court ruled on the company's preliminary injunction motion. The company welcomed the court's ruling to approve the preliminary injunction applied for by the company. The ruling shielded the company from immediate adverse effects of the 1260H determination during judicial proceedings challenging the 1260H determination.
Note: US court ruling: The US federal court ruled prohibiting the execution of the 1260H list determination of Pharmaceutical Kangde, found that there was no evidence that the company was linked to the military business, and granted temporary judicial relief. Core significance: Eliminating the risk of panic cancellations from overseas customers and suppliers and fixing the stability of overseas business cooperation; eliminating the greatest uncertainty of geographical sanctions is the core catalyst for recent valuation repairs; lawsuits continue, but short-term substantial gaps have been resolved.
[General outlook]
The Nasdaq China Golden Dragon Index closed up 0.77%
Overnight, the Dow Jones Industrial Average rose 151.83 points to close at 54036.93 points, or 0.28%; the S&P 500 stock index rose 47.68 points to close at 7757.64 points, or 0.62%, a closing high; and the Nasdaq Composite Index rose 342.27 points to close at 26690.62 points, or 1.3%. Last week, the Dow had a cumulative increase of 2.96%, the NASDAQ had a cumulative increase of 5.19%, and the S&P 500 had a cumulative increase of 3.58%.
The US stock optical communications sector surged, with Coherent up more than 13%, Applied Optoelectronics by more than 9%, Credo by more than 8%, Lumentum by more than 6%, Corning by more than 5%, and Mywell Technology by more than 3%. US space concept stocks closed higher; SpaceX rose more than 15%, Redwire rose more than 14%, and Rocket Lab rose more than 9%. The storage sector generally declined, with Seagate falling more than 4%, Western Digital, SanDisk, Kioxia ADR, and SK Hynix falling more than 3%, and Micron falling slightly.
The Nasdaq China Golden Dragon Index closed up 0.77%. Most popular Chinese securities rose; Zaiding Pharmaceuticals rose more than 11%, and Hesai rose more than 8%. The Hang Seng Index ADR rose. On a proportional basis, it closed at 25831.08 points, up 163.05 points or 0.64% from the Hong Kong closing.
WTI crude oil futures on the New York Mercantile Exchange fell $0.21 for the month, closing at $77.08 a barrel, or 0.27%. COMEX gold futures rose $101.70, or 2.37%, to $4401.3 per ounce for the month.
[Hot Topics Preview]
Trump will summon executives from some of the world's largest mining companies to a meeting
US President Trump convened a meeting of executives from some of the world's largest mining companies at the US State Department on August 7, local time, to take action to “guarantee the supply of critical minerals to the US and its allies.” The report said that the US is now in urgent need of key minerals to replenish the stocks of weapons lost during the war against Iran. In the war against Iran, which lasted more than five months, the US military consumed a large amount of precision-guided missiles and anti-aircraft interceptor bombs. According to Pentagon officials and defense companies, the supply of minerals such as rare earths, tungsten, germanium, and scandium is essential for manufacturing accurately guided missiles, fighter jets, armored vehicles, infrared sensors, and other advanced weapon systems. According to the report, industry giants expected to attend include global mining giant Rio Tinto Group, Australia's BHP Billiton, the US Freeport-McMoRan Copper and Gold Company, the US Mountain Yamaguchi Materials Company, the US Rare Earth Company, the US Energy Fuels Company, and Canada Metals. According to sources, the Trump administration plans to announce a number of deals and memorandums of understanding. (CCTV)
SK Hynix approves 54 trillion won chip production expansion plan! Two new wafer factories were built in Yongin Cheongju
SK Hynix announced on Friday (August 7) that it has decided to build new fabs in Yongin and Cheongju to cope with the growing demand for memory in the artificial intelligence era. The company approved an expansion plan with a total investment of approximately 54.35 trillion won (US$38.297 billion) at the board meeting, including investing 35.2 trillion won (US$24.809 billion) to build the Yongin “Y2” plant in Yongin Semiconductor Industrial Park by October 31, 2031, and investing 19.1 trillion won (US$13.466 billion) at the Cheongju “M17” plant by April 30, 2031.
Beijing: The social security personal tax payment period for non-Beijing households was lowered to one year
The Beijing Municipal Housing and Urban-Rural Development Commission, the Beijing Municipal Commission of Planning and Natural Resources, and the Beijing Housing Provident Fund Management Center jointly issued the “Notice on Further Optimizing and Adjusting the City's Real Estate Policy” on the evening of the 7th, clarifying that the social security or personal tax payment period for non-Beijing households purchasing commercial housing within the 5th Ring Road will be reduced from “2 years” to “1 year.” After the adjustment, the social security or personal tax payment period for non-Beijing households purchasing commercial housing was unified to “1 year,” and the number of commercial housing units purchased remained unchanged. In other words, non-Beijing households that have paid social security or personal tax for 1 year can buy 1 commercial housing unit within the 5th Ring Road; families with many children can buy 1 more unit; outside the 5th Ring Road, there is no limit on the number of units purchased. The “Notice” will come into effect on the 8th.
Cathay Junan International (01788) received a premium of about 44.2% from Cathay Pacific Haitong (02611) and resumed trading on August 10
Cathay Pacific Junan International (01788), a subsidiary of Cathay Pacific Haitong, announced on the Hong Kong Stock Exchange that Cathay Pacific Haitong Financial Holdings will adopt an “agreement arrangement” to acquire all common shares of Cathay Pacific Junan International except those held by Cathay Pacific Haitong Financial Holdings at a price of HK$3 per share to achieve privatization and delisting of Cathay Pacific Junan International. The privatization of Cathay Pacific Junan International will significantly improve Cathay Pacific Haitong's management efficiency, help Cathay Pacific Haitong integrate overseas business resources, enhance the overall strength of its overseas business, and accelerate the implementation of the internationalization strategy.
Botai Auto Federation (02889) plans to acquire 70% of the issued shares of Chengdu Mingyi Electronic Technology for no more than 1.4 billion yuan
The target company, Chengdu Mingyi Electronic Technology Co., Ltd., is a limited company incorporated in China. It is an integrated circuit design enterprise specializing in the development of high-performance communication chips. Using the Fabless business model, it is mainly engaged in R&D, design and sales of products such as high-speed optoelectronic chips, high-performance analog chips and modules. Its optoelectronic chip products are one of the core chips for current AI data center optical modules, and it is also an industrial direction where localization needs are more scarce.
Luzhu Bio-B (02480) publishes LZ901 phase III clinical trial results in Nature Communications
The phase III clinical trial of LZ901 in China is a multicenter, randomized, double-blind, placebo-controlled study to evaluate the protective efficacy and safety of LZ901 in preventing shingles in adults aged 40 and above.
Lingbao Gold (03330): Significant progress has been made in the investigation work of Huatai Company in Habahe, Xinjiang
As of June 30, 2026, the amount of resources held jumped from 13.20 tons at the end of 2025 (as disclosed in the company's 2025 annual report) to 53.94 tons.
Chifeng Gold (06693): Establishing an independent contractor mine development and mining service agreement
Under the agreement, the contractor will provide open pit mining services, including ore mining and waste stone removal, as well as other mining services and activities related to Vientiane Mining's mining operations in Laos. The total provisional price of the agreement is US$220 million (equivalent to approximately RMB 1,501 billion), excluding VAT, for a period of six years and settled at the estimated mining rate. Chifeng Gold (06693) issued an announcement. Chijinxia Tungsten has decided to suspend the operation of the Mengkang rare earth project. In the future, it will closely follow up on relevant policy changes and actively seek solutions.
China Biopharmaceutical (01177): New indications for first-line treatment of squamous non-small cell lung cancer with bemosubizumab combined with sequential chemotherapy combined with anlotinib were approved for marketing
This is the 12th indication approved for anlotinib and the 6th indication approved for bemosubizumab.
Zhengli Xinneng (03677) is profitable: Expected mid-term net profit of about 320 million yuan to 400 million yuan, a year-on-year increase of about 45.5% to 81.8%
Shipments of power batteries and energy storage battery products both achieved significant increases compared to the same period last year. Among them, shipments of energy storage products jumped year-on-year, driving the Group's sales revenue to increase significantly compared to the same period last year.
Fuzhikang Group (02038) announced interim results: profit attributable to shareholders of US$9.306 million increased by 50.95% year-on-year
According to the announcement, in order to cope with the fierce competitive environment, although the increase in memory prices affected some of the Group's customers and terminated other underperforming or traditional businesses, operating income increased significantly due to a new customer in the intelligent manufacturing business and the steady development of the existing automobile and intelligent manufacturing business.
Guanghe Technology (01989) released interim results: net profit of 956 million yuan to mother increased 94.39% year-on-year
Currently, a new round of technical improvement projects at the Guangzhou factory is progressing in an orderly manner. It is expected that new production capacity will be released in the second half of the year to respond to growing customer demand and ease the current tight production capacity situation. The construction of the Thai factory is progressing in an orderly manner. It is expected that additional production capacity will be added in Q4 2026, which will further boost the overall output value and profitability of the Thai factory.
Tianrunyun (02167) Fa Yingxi: Net profit is expected to increase by about 50% to 80% year-on-year in the first half of the year
The board of directors believes that the increase in net profit is mainly due to a revenue increase of more than 100% in the company's AI-related customer service product portfolio compared to the same period in 2025.
[Individual stock prices are clear]
Tongguan Gold (00340): Profit attributable to shareholders is expected to increase by about 49% to 55% over the same period last year from HK$510 million to HK$530 million
The profit for the mid-2026 period mentioned above has been included in a one-time income tax expense of approximately HK$95 million for 2025. This one-time expense was due to a subsidiary of the company (which previously enjoyed preferential tax policies for high-tech enterprises) to pay additional taxes in response to a notice issued by the competent tax authority on August 7, 2026 after tax consultation.
Excluding the impact of the one-time tax expenses mentioned above, the adjusted profit forecast for company owners for the mid-2026 period is approximately HK$605 million to HK$625 million, an increase of approximately 76% to 82% compared with approximately HK$343 million for the same period in 2025. The increase in profit attributable to company owners is mainly due to an increase in the average sales price of the Group compared to the same period in 2025.