Zhitong Hong Kong Stocks Early Insight | In September, China's logistics industry prosperity index rose by 0.9 percentage points, welcoming 1.216 million mainland tourists during the National Day holiday in Hong Kong

[Today's Headlines]

China's Logistics Prosperity Index for September was 52.4%

The China Federation of Logistics and Purchasing released the Logistics Prosperity Index for September 2024, which was 52.4%, up 0.9 percentage points from the previous month. In September, the upstream and downstream of the supply chain further recovered, with steady growth in physical logistics volumes such as road, rail, air, and e-commerce express delivery. The total business volume index, new order index, and business activity expectation index continued to rise, maintaining expansion zone operation, reflecting the sustained growth of logistics supply and demand since the third quarter, with internal dynamic resilience rising, and the logistics "Golden September" arriving as scheduled.

Air cargo logistics and e-commerce express delivery remain active. In September, the industry's logistics remained stable, with the total business volume index for railway transportation and road transportation at 54.4% and 53% respectively, up by 0.5 and 0.6 percentage points respectively from the previous month, stabilizing the industry's foundation. The demand for air cargo logistics is gathering momentum, with a growing business volume trend. Both full freighters and passenger belly cargo utilization rates are at relatively high levels. In September, the total business volume index and new order index for the air transportation industry were 57.8% and 59.5% respectively, up by 0.8 and 1.1 percentage points respectively. Data shows that cargo flights at airports such as Ezhou Huahu, Guangzhou Baiyun, Hangzhou Xiaoshan, Zhengzhou Xinzheng, and Qingdao Jiaodong all saw significant month-on-month growth. The lingering heat of the back-to-school season and the travel season seamlessly connected, with continuous strong flows of visitors for family visits and tourism, driving up the activity of e-commerce express delivery. In September, the total business volume index for postal express delivery was 69.9%, significantly higher than the industry average, with key researched enterprises seeing a daily average growth of about 8% in business volume.

[Market Outlook]

As of the close of the U.S. stock market overnight, the Dow rose by 126.13 points, or 0.30%, to 42080.37 points; the Nasdaq rose by 259.01 points, or 1.45%, to 18182.92 points; the S&P 500 index rose by 55.19 points, or 0.97%, to 5751.13 points. NVIDIA (NVDA.US) rose by 4%, while Apple (AAPL.US) rose by 1.8%. The Nasdaq Golden Dragon Index fell by 6.8%, with Alibaba (BABA.US) dropping by 6.6%. The U.S. basic bond yield held above 4%, the U.S. dollar hovered near an eight-week high, gold fell for the fifth consecutive time, silver fell by nearly 5%, and London copper fell by nearly 2%. The Hang Seng Index ADR rose, closing at 20935.83 points, up 9.04 points or 0.04% from the close in Hong Kong.

[Hot Topics Preview]

Over 1.216 million Mainland Chinese Tourists Entered Hong Kong During the National Day Holiday

According to data from the Hong Kong Immigration Department, during the National Day Golden Week from October 1st to 7th, approximately 6.466 million people entered and exited Hong Kong through various sea, land, and air control points. Among them, the number of Mainland Chinese tourists visiting Hong Kong exceeded 1.216 million, an increase of about 100,000 compared to last year's Golden Week.

Hong Kong Securities and Futures Commission Publishes Consultation Summary on Optimizing REIT System and Market Conduct Regulation for Listed Collective Investment Schemes

According to the Securities Times app, the Hong Kong Securities and Futures Commission has published a consultation summary on introducing a set of statutory arrangements and mandatory takeover mechanisms for Real Estate Investment Trusts (REITs) (REIT Plan Proposal), as well as optimizing the market conduct regulation system applicable to listed collective investment schemes under the Securities and Futures Ordinance (Listed Collective Investment Plan Proposal) The proposal has received widespread support during the consultation.

Ministry of Commerce: China is studying measures to increase tariffs on imported large-displacement fuel vehicles

Regarding the anti-dumping and anti-subsidy investigations into related pork and pork by-products, dairy products imported from the European Union, China is currently conducting investigations in accordance with the law, will fully protect the rights of all stakeholders, and make objective and fair rulings based on the investigation results. At the same time, China is studying measures to increase tariffs on imported large-displacement fuel vehicles. China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese industries and enterprises.

Hainan: Received 4.1332 million tourists during the National Day, with total tourist spending of 5.738 billion yuan

The Hainan Provincial Department of Tourism, Culture, Radio, Television, and Sports announced that during the 2024 National Day holiday, the province received a total of 4.1332 million tourists, a year-on-year increase of 10.7% on a comparable basis. Among them, there were 1.632 million overnight tourists, a year-on-year increase of 12.4% on a comparable basis; and 2.5012 million day-trip tourists, a year-on-year increase of 9.5% on a comparable basis. Total tourist spending was 57.38 billion yuan, a year-on-year increase of 1.1% on a comparable basis. This involves Hainan tourism sectors such as Meilan Airport and Fuxing Tourism.

CStone Pharmaceuticals (01093): Approval for listing of injection omalizumab by the National Medical Products Administration

CStone Pharmaceuticals announced on the Hong Kong Stock Exchange that the injection omalizumab developed by the group has obtained approval for listing from the National Medical Products Administration. Enyitane® is a recombinant anti-human immunoglobulin E humanized monoclonal antibody, the first biosimilar developed in China for the treatment of type 3.3 biologics, suitable for adult and adolescent patients with chronic spontaneous urticaria who still have symptoms after treatment with H1 antihistamines.

On October 8th, CStone Pharmaceuticals announced on the Hong Kong Stock Exchange that the group's similar first-in-class antibody-drug conjugate (ADC) CPO301 for the treatment of recurrent or metastatic squamous non-small cell lung cancer (NSCLC) patients with overexpression of epidermal growth factor receptor (EGFR) who have received platinum-based chemotherapy and anti-PD-(L1) treatment or experienced disease progression after, has been granted fast track qualification by the U.S. Food and Drug Administration (FDA).

BlackRock increases holdings in China Life (02628) by 30.1144 million shares at an average price of approximately HKD 16.65 per share

According to the latest information from the Hong Kong Stock Exchange obtained by the Wisdom Financial APP, on October 3rd, BlackRock increased its holdings in China Life (02628) by 30.1144 million shares at an average price of HKD 16.6541 per share, with a total amount of approximately 502 million Hong Kong dollars. After the increase, the latest number of shares held is approximately 464 million shares, with the latest shareholding ratio of 6.24%.

【Individual Stock Highlights】

New China Life Insurance (01336) announces profit growth, expecting net profit attributable to shareholders of the parent company for the first three quarters to be between 18.607 billion yuan and 20.515 billion yuan, a year-on-year increase of 95% to 115%

According to the Wisdom Financial APP, New China Life Insurance (01336) announced that based on preliminary calculations, the company is expected to achieve a net profit attributable to shareholders of the parent company of between 18.607 billion yuan and 20.515 billion yuan in the first three quarters of 2024, an increase of 90.65 billion yuan to 109.73 billion yuan compared to the same period in 2023, a year-on-year increase of 95% to 115%; The company's net profit attributable to the parent company's shareholders excluding non-recurring gains and losses for the first three quarters of 2024 is expected to be between 18.644 billion yuan and 20.556 billion yuan. Compared with the same period in 2023, it is expected to increase by 9.083 billion yuan to 10.995 billion yuan, a year-on-year growth of 95% to 115%.

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