Zhitong Hong Kong Stock Early Knowledge | The Federal Reserve maintains interest rates unchanged for the fifth consecutive time! Waller reiterates the 2% inflation target

【Today's Headlines】

The "14th Five-Year Plan" for the sports industry is expected to drive the prosperity of the entire industry chain

The General Administration of Sport of China issued a notice on the "14th Five-Year Plan" for building a strong sports nation. The plan outlines key development indicators, aiming for an average sports venue area of about 4 square meters per person by 2030, with the proportion of people regularly participating in sports exercise reaching about 40%, and the national physical fitness excellent rate reaching 31.1%. The total scale of the sports industry is expected to exceed 7 trillion yuan. Huachuang Securities pointed out that the top-down policy drive has significantly strengthened, which is expected to stimulate demand release and prosperity across the entire industry chain, including venue facilities, equipment manufacturing, outdoor sports, and event operations.

It is worth noting that Nike is making channel adjustments. Bohai Securities believes this will benefit domestic brand sales to some extent. With the support of the "14th Five-Year Plan" policy for sports, it is conducive to further promote the release of domestic related demand and create a favorable macro development environment for local brands.

Hong Kong stocks related to sports goods include: Li Ning (02331), ANTA SPORTS (02020), Xtep International (01368), Tabo (06110), and 361 Degrees (01361).

【Market Outlook】

Optical communication and storage sectors continue to plummet, Micron Tech falls nearly 10%

Overnight, U.S. stocks closed with the Dow Jones Industrial Average down 1,153.18 points from the previous trading day, closing at 51,594.14 points, a decline of 2.19%; the S&P 500 index fell 112.63 points, closing at 7,316.15 points, a decline of 1.52%; the NASDAQ Composite Index dropped 433.97 points, closing at 24,442.94 points, a decline of 1.74%.

Large tech stocks fell broadly, with NVIDIA and SpaceX down over 3%, Tesla down nearly 3%, and the optical communication and storage sectors continuing to decline, with Micron Tech down nearly 10% and Coherent down over 8%. U.S. energy stocks rose, with Apache Corporation up over 5%, Occidental Petroleum up nearly 4%, and ConocoPhillips up over 3%.

Most popular Chinese concept stocks rose, with the NASDAQ Golden Dragon China Index up 1.73%. New Oriental rose over 15%, Pinduoduo rose over 3%, while the Hang Seng Index ADR fell, closing at 25,668.96 points, down 138.96 points or 0.54% from the Hong Kong close.

WTI crude oil futures for the current month rose by $5.34, closing at $84.6 per barrel, an increase of 6.74%. COMEX gold futures for the current month rose by $26.80, an increase of 0.66%, closing at $4,065.5 per ounce.

【Hot Topics Ahead】

The Federal Reserve maintains interest rates for the fifth consecutive time! Waller reiterates 2% inflation target, three officials support rate hike

According to Zhitong Finance APP, Federal Reserve Chairman Kevin Waller stated on Wednesday that the decision to maintain interest rates does not mean that policy is stagnant, and the central bank remains committed to achieving the 2% inflation target, emphasizing that there is no "soft inflation target" within the committee.

After concluding a two-day monetary policy meeting, the Federal Open Market Committee (FOMC) decided to keep the federal funds rate target range unchanged at 3.5% to 3.75% by a vote of 9 in favor and 3 against, marking the fifth consecutive time it has held steady However, Dallas Federal Reserve President Logan, Cleveland Federal Reserve President Harmack, and Minneapolis Federal Reserve President Kashkari voted in favor of a 25 basis point interest rate hike, indicating that some decision-makers increasingly believe that further tightening of policies is necessary to curb the resurgent inflationary pressures.

Nine departments issue documents to strengthen data development and utilization in the fintech sector

On July 29, the People's Bank of China announced that it, along with eight other departments, recently jointly issued a notice on "Strengthening Data Development and Utilization in the Fintech Sector," emphasizing the importance of data openness, sharing, and integrated application in the fintech sector, which will provide stronger data support and financial backing for accelerating high-level technological self-reliance and strength. According to the announcement, the People's Bank of China, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, and other nine departments jointly issued a notice, releasing the "National Data Development and Utilization Catalog 1.0" in the fintech sector, covering eight categories and 26 data indicators, including enterprise lists and technological innovation attributes, import and export, investment and financing, operations, R&D investment, intellectual property, innovation capability evaluation, and enterprise demand. It supports localities in forming regionally distinctive fintech data development and utilization lists, building provincial-level supporting information facilities for fintech data development and utilization, strengthening the interconnectivity of existing information system resources, and promoting data information collection and sharing.

The Dark Side of the Moon completes Series F financing; Pre-IPO round may end early

On July 29, it was learned from relevant sources that The Dark Side of the Moon Kimi has recently completed Series F financing, raising over $3.5 billion, with a post-financing valuation rising to $35 billion. Due to exceeding the target amount by several times, this round of financing closed early.

China Resources Pharmaceutical (03320) subsidiary China Resources Double Crane plans to acquire approximately 23.5% equity in Lier Chemical for 5.656 billion yuan

Upon completion, China Resources Double Crane will hold approximately 23.50% equity in Lier Chemical and will become the largest shareholder of Lier Chemical, which will be accounted for as a non-wholly-owned subsidiary of the company. Lier Chemical and its subsidiaries are primarily engaged in the R&D, production, and sales of highly efficient, low-toxicity, low-residue, and safe pesticide active ingredients and formulations. Lier Chemical's shares have been listed on the Shenzhen Stock Exchange since July 2008 (stock code: 002258).

Qianxin Biotechnology-B (02509) partner Caldera Therapeutics plans to merge with Synlogic to go public on NASDAQ and simultaneously raise $278 million

According to Zhitong Finance APP, Qianxin Biotechnology-B (02509) announced that on July 29, 2026, its partner Caldera Therapeutics, Inc. entered into a definitive merger agreement with Synlogic, Inc. (OTC code: SYBX) to conduct an all-stock merger. This merger will be realized through Caldera Therapeutics and Synlogic becoming wholly-owned subsidiaries of a newly established holding company. Upon completion, the merged company will operate under the name Caldera Therapeutics, Inc. and is expected to trade on the NASDAQ capital market under the stock code "CALD." Zijin Mining (02899): Zijin Gold International (02259) terminates acquisition of Allied Gold and plans to acquire 9.2% stake through subscription of private placement shares

According to Zhitong Finance APP, Zijin Mining (02899) and Zijin Gold International (02259) jointly announced regarding Zijin Gold International's proposed acquisition of Allied Gold Corporation (Allied Gold, listed on both the Toronto Stock Exchange and the New York Stock Exchange, stock code AAUC). On January 26, 2026, Zijin Gold International, controlled by Zijin Mining, signed an "Arrangement Agreement" with Allied Gold, agreeing to acquire all issued common shares of Allied Gold at a cash price of CAD 44 per share, with a total acquisition consideration of approximately CAD 5.5 billion (approximately USD 4 billion).

Reborn Bioscience-B (06938) expects to achieve revenue of approximately RMB 311 million to RMB 436 million in the first half of the year, a year-on-year increase of approximately 200% to 320%

According to Zhitong Finance APP, Reborn Bioscience-B (06938) announced that the group expects to achieve revenue of approximately RMB 311 million to RMB 436 million in the first half of 2026, representing a year-on-year increase of approximately 200% to 320%. This is mainly due to the recognition of licensing revenue under the group's global exclusive licensing collaboration with Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), along with revenue recognized when milestones were achieved in collaboration with Boehringer Ingelheim International GmbH. These collaborations involve the development and commercialization of small interfering RNA (siRNA) therapies for metabolic dysfunction-related fatty liver disease (MASH) and constitute the main driving force behind the group's revenue growth during the reporting period.

BYD passes L2 assisted driving new national standard certification

On July 29, according to BYD Auto news, BYD has passed the L2 assisted driving new national standard certification.

XianDao Intelligent (00470): Foldable screen chip-level polymer 3D printing equipment has achieved mass delivery and production verification

On July 29, XianDao Intelligent stated on the interactive platform that the company's foldable screen chip-level polymer 3D printing equipment has achieved mass delivery and production verification, receiving high recognition from customers. Currently, the company is actively conducting technical docking, solution verification, and production line introduction cooperation for foldable screen projects with several leading domestic and foreign terminal brands based on this technology solution; the related equipment platform has adaptation and expansion capabilities, and the company will continue to carry out product research and development and market expansion in line with downstream customer demands.

Sihui Technology (01202) issues profit warning, expects consolidated net profit of approximately RMB 80.72 million in the first half of the year

The announcement states that the increase in the company's consolidated net profit is mainly due to the explosive growth in demand for applications such as AI data centers this year, and the rapid rise in optical fiber market prices in the short term, driving the company's profit growth.

Hong Kong Telecommunications-SS (06823) announces interim results, profit attributable to shareholders increases by 4% year-on-year to HKD 2.153 billion, with a dividend of HKD 0.348 per share Among them, local data service revenue grew by 6% to HKD 7.265 billion, driving local telecommunications service revenue up by 3% to HKD 9.014 billion. Local data services are the largest component of local telecommunications services, accounting for 81% of the revenue. Revenue from pay television services increased to HKD 1.169 billion, while local telephone service revenue was HKD 0.853 billion.

Fosun International (00656) issues profit warning: expects net profit attributable to shareholders to be approximately HKD 1.5 billion to 1.8 billion in the first half of 2026

The board believes that this growth is mainly due to the strong resilience shown by core industries in the first half of 2026, steady improvement in operational quality, and significant growth in operational profits compared to the same period last year. Previous public information indicates that since 2026, Fosun International's fundamentals have remained robust, with core industries such as pharmaceuticals and health, insurance and finance, and cultural tourism consumption continuing to show good development trends.

New Oriental-S (09901) announces annual results, net profit attributable to shareholders is USD 475 million, an increase of 27.8% year-on-year

For the fiscal year ending May 31, 2026, net revenue was approximately USD 5.661 billion, an increase of 15.5% year-on-year. Operating profit was approximately USD 643 million, an increase of 50.2% year-on-year. Net profit attributable to shareholders was USD 475 million, an increase of 27.8% year-on-year.

Zhongji Xuchuang (03308) dark market closes down over 1%

On July 29, Zhongji Xuchuang will be listed in Hong Kong on July 30. As of the close, dark market trading showed a quote of HKD 969.50, down 1.07% from the offering price of HKD 980, with a lot size of 50 shares, resulting in a loss of HKD 525 per lot, excluding fees. Zhongji Xuchuang (03308) announced the allocation results, with a global offering of 54.5 million shares, of which 10% was for public offering in Hong Kong and 90% for international offering. The offering price per share was HKD 980, with a net fundraising of approximately HKD 52.891 billion from the global offering.

[Stock Highlights]

Anker Innovations (00668): Demand for energy storage business continues to grow, recently officially entered the Hong Kong Stock Connect list

Anker Innovations' investor relations activity record shows that the company believes the energy storage business is still in a stage of continuous demand growth, ongoing product innovation, and gradual improvement of policies. From the overall energy storage business perspective, the company has currently formed a diversified product layout including portable mobile storage, balcony solar storage, and household energy storage. In the future, the company will continue to promote product innovation and market expansion around the real needs of users, driving the continuous development of the energy storage business.

In addition, starting from July 27, Anker Innovations officially entered the Hong Kong Stock Connect list. The company stated that being included in the list of eligible securities for the Hong Kong Stock Connect will help further expand the company's investor base and potentially enhance the trading liquidity of the company's H-shares.

Industrial Securities pointed out that the company continues to focus on three major businesses: charging storage, smart innovation, and smart audio-visual. In the short term, the core main business is growing steadily, with rapid growth in energy storage and smart home businesses; in the long term, the shallow sea strategy continues to be implemented, with multi-category collaborative development, and the platform value is expected to continue to be released, with ample room for upward valuation