Zhitong Hong Kong Stock Early Knowledge | Alibaba announces open source Qwen3.8, Guangdong's first "Token Loan" released in Haizhu

【Today's Headlines】

Four Departments Release Corporate Income Tax Policies for Non-Monetary Asset Exchanges of Integrated Circuit and Industrial Mother Machine Enterprises

Integrated circuit enterprises and industrial mother machine enterprises that engage in non-monetary asset exchanges between January 1, 2026, and December 31, 2028, may recognize the income from such exchanges as specified, and can evenly allocate it into the taxable income for the corresponding years over a period not exceeding 5 years, calculating and paying corporate income tax according to current policy regulations; losses incurred from non-monetary asset exchanges cannot be recognized in installments. This involves the Hong Kong stock semiconductor sector.

【Market Outlook】

As of last Friday's close, the Dow Jones Industrial Average fell by 107.58 points from the previous trading day, closing at 53,732.41 points, a decrease of 0.2%, with a weekly decline of 0.56%; the S&P 500 index dropped by 13.23 points, closing at 7,785.76 points, a decrease of 0.17%, with a weekly increase of 0.36%; the NASDAQ Composite Index fell by 73.87 points, closing at 26,729.16 points, a decrease of 0.28%, with a weekly increase of 0.14%.

The storage sector strengthened, with SanDisk rising over 7%, Seagate Technology up over 5%, Western Digital up over 4%, and Micron Technology up over 2%. Semiconductor equipment stocks weakened, with Applied Materials down over 5% and KLA down over 2%. Optical communication stocks rose, with Applied Optoelectronics up over 15%, Corning up over 4%, and Lumentum up over 5%.

The NASDAQ Golden Dragon China Index closed up 0.61%. The Hang Seng Index ADR rose, closing at 25,286.22 points, an increase of 169.37 points or 0.67% compared to the Hong Kong close.

WTI crude oil futures for the current month rose by $1.15, closing at $82.40 per barrel, an increase of 1.42%. COMEX gold futures for the current month rose by $11.60, an increase of 0.26%, closing at $4,432.0 per ounce.

【Hot Topics Ahead】

Trump: Will Declare the Strait of Hormuz U.S. Territory After Defeating Iran

U.S. President Trump claimed on the 14th that he would soon "declare the Strait of Hormuz as U.S. territory" after "defeating Iran." Speaking at an event in Long Island, New York, Trump stated that Iran is suffering a crushing defeat, and "after we completely defeat Iran, I will soon declare the Strait of Hormuz as U.S. territory." He chuckled slightly when saying this and added, "This is true."

Anthropic's Second Quarter Revenue Exceeds $11.5 Billion

Global AI giant Anthropic's second quarter revenue has exceeded $11.5 billion, a year-on-year increase of 1,361%. More importantly, the company's adjusted operating profit for the quarter has turned positive, marking a new stage in its commercialization process. Currently, Anthropic is fully preparing for its IPO, which is expected to break the record for the largest IPO in history. This involves the Hong Kong stock domestic large model sector.

Alibaba (09988) Announces Open Source Qwen3.8 with Global Downloads Exceeding 3 Billion Alibaba (09988) announced the official open-source release of the Qwen 3.8 series model on August 14, allowing all developers, research institutions, and enterprises to freely download, deploy, and use it. The newly open-sourced Qwen 3.8-27B is a native multimodal dense model with only 27 billion parameters, surpassing the overall level of Qwen 3.7-Plus.

Guangdong Province's first token economy special financial product "Token Loan" launched in Haizhu, Guangzhou

On August 14, Guangdong Province's first token economy special financial product "Token Loan" was launched in Haizhu District, Guangzhou. Taking Bank of China Guangzhou Branch as an example, a dedicated financing product for small and micro enterprises in Haizhu, the computing power Token Loan, is developed based on contract/Token consumption limits. It can provide guarantees mainly through credit, accounts receivable pledges, and order financing, and can also combine guarantees such as guarantees and mortgages to further expand the limits. This involves Hong Kong-listed computing power leasing and other IDC companies, including Yuegangwan Intelligent Computing (01396).

Jinchuan International (02362) releases interim results, with shareholders' profit of $47.816 million, an increase of 766.07% year-on-year

Jinchuan International (02362) released its interim results for 2026, reporting revenue of $460 million, an increase of 152.35% year-on-year; the profit attributable to the company’s owners was $47.816 million, an increase of 766.07% year-on-year; basic earnings per share were 0.36 cents. The group's gross profit increased from $38.5 million in the first half of 2025 to $167.5 million in the first half of 2026, mainly due to the rise in market copper prices and the expansion of production capacity and overall sales after the Musonoi mine commenced production, although this was partially offset by increased mining and smelting costs and depreciation and amortization related to the Musonoi mine.

Longfor (00960) releases interim performance forecast, expecting net profit attributable to shareholders of 1.8 billion to 2.0 billion yuan

The announcement shows that Longfor Group expects net profit attributable to shareholders for the first half of 2026 to be between 1.8 billion and 2.0 billion yuan, with core profit after excluding the impact of fair value changes of investment properties and other derivative financial instruments expected to be between 50 million and 100 million yuan.

Sands China Ltd. (01928) releases interim results for 2026, with net profit of $398 million, a year-on-year decrease of 3.6%

Sands China Ltd. (01928) released its results for the six months ending June 30, 2026, reporting net revenue of $3.879 billion, an increase of 11.1% year-on-year; net profit was $398 million, a decrease of 3.6% year-on-year; basic earnings per share were 4.92 cents, and an interim dividend of HKD 0.50 per share is proposed. The total net revenue increased year-on-year mainly due to the increase in entertainment revenue.

MINISO (09896) expects interim profit of approximately 940 million to 960 million yuan, an increase of about 4% to 6% year-on-year

Operating profit increased in the first half of the year, mainly due to the fair value changes of an investment in a limited partnership in the artificial intelligence industry, generating unrealized and mark-to-market gains of approximately RMB 277 million, although this was partially offset by the following factors: (i) increased sales and distribution expenses; (ii) Net exchange loss of approximately RMB 142 million.

Fudan Zhangjiang (01349) announces interim results, profit attributable to shareholders of RMB 36.895 million, an increase of 545.58% year-on-year

Fudan Zhangjiang (01349) announced its results for the six months ended June 30, 2026, with revenue of RMB 372 million, a decrease of 4.58% year-on-year; profit attributable to owners of the company was RMB 36.895 million, an increase of 545.58% year-on-year; earnings per share of RMB 0.0355. For the six months ended June 30, 2026, the group's net profit margin was 10%, compared to 1% in the same period of 2025, primarily due to a decrease of approximately RMB 44 million in R&D expenses compared to the same period last year.

SenseTime-W (00020) issues profit warning, expects interim profit of approximately RMB 500 million to RMB 700 million, turning losses into profits year-on-year

This will be the company's first consolidated profit since its listing on the Hong Kong Stock Exchange. The aforementioned changes for the first half of 2026 measured in accordance with International Financial Reporting Standards (IFRS) are mainly due to: (i) a reduction in losses in the group's main business segment in the first half of 2026 compared to the first half of 2025; and (ii) gains from changes in the fair value of AI ecosystem enterprise investments strategically built by the group over the years.

Zhongxin Innovation 航 (03931) issues profit warning, expects net profit for the first half of approximately RMB 1.506 billion to RMB 1.581 billion, an increase of approximately 100% to 110% year-on-year

In the same period last year, the group's net profit was approximately RMB 753 million. The board believes that the year-on-year increase in profit during the reporting period is mainly due to the expansion of new customers, new application scenarios, and the continuous increase in new products in the fields of passenger vehicles, commercial vehicles, and energy storage, leading to sustained business growth.

Zijin Mining International (02259) announces interim results, profit attributable to parent company of USD 1.451 billion, an increase of 178.83% year-on-year

Proposes an interim dividend of HKD 1.5 per share. The announcement states that in terms of mining operations, in the first half of 2026, the group's gold production was approximately 27.3 tons, of which the production from controlled mines was approximately 26.0 tons, an increase of approximately 37% year-on-year; gold sales were approximately 26.1 tons, with an average selling price of approximately USD 4,643 per ounce. Mature assets are operating stably overall, with increased production year-on-year from the Buriticá Gold Mine, Ross Beal Gold Mine, Left Bank Gold Mine, and Aurora Gold Mine; the Ghana Akim Gold Mine and Kazakhstan Ruigold Mine, acquired in April and October 2025 respectively, have fully integrated into the group's operational system, becoming important drivers of production and profit growth.

Genscript Biotech (01548) announces interim results, loss attributable to shareholders of USD 129 million, a year-on-year reduction of 29.25%

The announcement states that the increase in revenue is mainly due to (i) the continued rise in industry demand for AI-driven drug discovery and antibody drug discovery, accelerating the growth of the "gene to protein" business; (ii) strong recovery in upstream demand in the CRDMO industry, leading to an increase in project undertakings and improved capacity utilization; and (iii) continuous expansion of the industrial enzyme business, contributing to steady growth in sales during the reporting period [Stock Highlights]

Putian Communication Group (01720) Issues Positive Profit Alert, Expected Interim Shareholder Profit of Approximately RMB 40 million to RMB 45 million, Year-on-Year Increase of 410% to 480%

Putian Communication Group (01720) announced that the group expects to record a profit attributable to the owners of the company of approximately RMB 40 million to RMB 45 million for the six months ending June 30, 2026, an increase of 410% to 480% compared to the profit attributable to the owners of the company of RMB 7.8 million for the six months ending June 30, 2025.

The expected increase in profit attributable to the owners of the company is mainly due to the increase in sales revenue from optical fibers and optical cables.

Benefiting from the accelerated deployment of artificial intelligence computing power infrastructure globally, the demand for optical fibers and optical cables in domestic and international markets has surged, driving significant growth in the company's performance