Market Overview - The Hong Kong stock market showed a rebound with the Hang Seng Index rising by 0.68% to close at 24,902.53 points, with a total trading volume of HKD 2,293.99 million [1] - The Hang Seng China Enterprises Index increased by 0.65%, while the Hang Seng Tech Index rose by 0.73% [1] Blue-Chip Stocks Performance - Lenovo Group (00992) reached a new high in over four months, closing up 5.09% at HKD 11.14, contributing 6.8 points to the Hang Seng Index [2] - BYD Electronics (00285) rose by 7.73%, while Bank of China Hong Kong (02388) increased by 4.69% [2] - New Oriental Education (09901) and China Resources Beer (00291) saw declines of 1.26% and 1.1%, respectively [2] Sector Highlights Pharmaceutical Sector - The pharmaceutical sector saw a resurgence, with Junshi Biosciences (01877) soaring by 33.75% to HKD 32.18 [3] - Other notable gains included Genscript Biotech (01672) up 15.39% and Lepu Medical (02157) up 14.78% [3] - Haitong International expressed optimism for the innovative drug industry, suggesting increased allocation to leading innovative drug and CXO companies [4] Paper Industry - The paper industry is experiencing a price increase, with companies like Nine Dragons Paper (02689) and Lee & Man Paper (02314) seeing significant gains [5] - The industry is benefiting from a supply-demand imbalance and a push for high-quality development [5] Steel Sector - The steel sector was active, with Maanshan Iron & Steel (00323) rising by 15.53% [6] - The government’s focus on capacity management is expected to improve profitability in the long term [6] Gaming and Casino Sector - Macau's gaming stocks surged, with major players like MGM China (02282) and Wynn Macau (01128) seeing increases following a strong July revenue report [6] - Macau's gaming revenue reached MOP 221.25 billion, a 19% year-on-year increase, indicating a recovery in demand [6] Notable Stock Movements - Xindong Company (02400) surged by 24.76% after announcing a positive earnings forecast for the first half of 2025 [7] - Oriental Selection (01797) rose by 16.82% following a quarterly earnings report showing improved profitability [8] - China Tower (00788) reported stable revenue growth of RMB 49.601 billion, up 2.8% year-on-year, with a profit increase of 8.0% [10]

Group 1 - As of August 5, 84 stocks reached their 52-week highs, with notable performers including Zhengqian Financial Holdings (01152) at 145.00%, Yijun Group Holdings (02442) at 55.74%, and Ruiyuan Intelligent Control (08249) at 47.06% [1] - The closing prices and highest prices for the top three stocks are as follows: Zhengqian Financial Holdings at 0.249 and 0.490, Yijun Group Holdings at 3.660, and Ruiyuan Intelligent Control at 0.234 and 0.300 [1] - Other significant stocks that reached new highs include Dimi Life Holdings (01667) at 33.33%, Victory Pipeline (01080) at 29.29%, and Xindong Company (02400) at 25.70% [1] Group 2 - The report also lists stocks that reached their 52-week lows, with Zhaobangji Life (01660) at -4.72%, Ruifeng New Energy (00527) at -3.75%, and China Wantian Holdings (01854) at -3.06% [3] - The closing prices and lowest prices for the bottom three stocks are as follows: Zhaobangji Life at 0.116 and 0.101, Ruifeng New Energy at 0.400 and 0.385, and China Wantian Holdings at 1.030 and 0.950 [3] - Other stocks that experienced declines include XL Ernan County (07777) at -2.93% and Jifeng Packaging (01820) at -2.83% [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 心动有限公司 | | | | | | 呈交日期: | 2025年8月5日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 02400 | 說明 | | | | | | 法定/註冊股份數目 | 面值 | | 法定/註冊股本 | | | --- | --- | --- | --- | --- | --- | | 上月底結存 | 1,000,000,000 | USD | 0.0001 USD | | 100,000 | | 增加 / 減少 (-) | 0 | | USD | | 0 | | 本月底結存 | 1,000,000,000 | USD | 0 ...

8月5日，恒生互联网ETF（513330）盘中震荡，涨近0.5%，成分股中，心动公司涨超24%，东方甄选涨 超16%，网龙、地平线机器人、哔哩哔哩跟涨。 （文章来源：每日经济新闻） 7月30日，重磅会议顺利召开，明确提出"必须把因地制宜发展新质生产力摆在更加突出的战略位置"， 同时对"反内卷"的表述温和。 港股龙头互联网企业资本开支和云业务收入同步强劲增长。当前AI产业发展正进入从1-100的快速扩张 阶段，DeepSeek加速AI平权进程，港股互联网龙头AI商业化应用加速落地。从各大互联网巨头和三大 运营商不断加码云与AI基础设施投资可见，AI正成为推动云增长的核心动力。 在"反内卷"政策导向与AI产业快速发展的双重提振下，互联网企业的发展势头愈发强势。聚焦互联网龙 头企业与新消费的恒生互联网ETF（513330）有望进一步走出亮眼行情。 年内行情诞生背景主要是以AI为代表的产业变革加速演进，随着DeepSeek大模型全面开源，标志着中 国AI技术跻身全球第一梯队。根据Artificial Analysis综合多项性能基准的全球排行榜中，中国AI大模型 整体表现与美国前沿模型相当，其中DeepSeek-R1 ...

Group 1 - The core point of the article highlights the strong performance of mobile gaming stocks in the Hong Kong market, driven by the earnings surprise from Xindong Company, which saw its stock price surge over 24% [1] - Xindong Company expects revenue for the first half of 2025 to be no less than 3.05 billion yuan, representing a year-on-year growth of approximately 37%, and a net profit of no less than 790 million yuan, indicating a year-on-year increase of about 215% [1] - The report from the China Audio-Video and Digital Publishing Association indicates that the domestic gaming market's actual sales revenue for the first half of 2025 is projected to reach 168 billion yuan, a year-on-year growth of 14.08%, marking a historical high [1] Group 2 - The stock performance of various mobile gaming companies includes IGG rising nearly 10%, Chuangmeng Tiandi and Zhongshouyou increasing over 6%, and Feiyu Technology up by 4% [2] - The latest market capitalization figures show Xindong Company at 34.826 billion yuan, IGG at 5.323 billion yuan, and Chuangmeng Tiandi at 2.138 billion yuan, among others [2] - The total number of domestic gaming users reached 679 million, also a historical high, reflecting the growing engagement in the gaming sector [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][4][11] Core Views - The company is expected to see significant growth driven by new and existing games, as well as the TapTap platform, with a projected revenue of at least 3.05 billion yuan for H1 2025, representing a year-on-year increase of approximately 37% [4][8] - Net profit is anticipated to be no less than 790 million yuan, reflecting a year-on-year growth of around 215%, exceeding previous expectations [4][8] - The performance boost is attributed to successful self-developed games and improvements in the TapTap platform's advertising algorithms and user engagement [4][5] Financial Summary and Valuation Metrics - Revenue projections for 2025 are set at 6.466 billion yuan, with a year-on-year growth of 29% [7] - Net profit for 2025 is estimated at 1.71 billion yuan, showing a year-on-year increase of 110.7% [7] - The company’s gross margin is expected to improve to 71% in 2025, while the net margin is projected at 26.4% [7] - Earnings per share (EPS) for 2025 is forecasted at 3.5 yuan, with a price-to-earnings (P/E) ratio of 15.0 times [7]

Group 1 - The core point of the article highlights a significant rise in mobile gaming stocks in the Hong Kong market, driven by the earnings forecast from Xindong Company, which saw its stock price increase by over 24% [1][2]. - Xindong Company expects its revenue for the first half of 2025 to be no less than 3.05 billion yuan, representing a year-on-year growth of approximately 37%. The net profit is projected to be no less than 790 million yuan, an increase of about 215% year-on-year [2]. - Other mobile gaming stocks also experienced gains, with IGG rising nearly 10%, Chuangmeng Tiandi and Zhongyou Game both increasing over 6%, and several others showing positive growth [1][2]. Group 2 - According to the China Audio-Video and Digital Publishing Association, the actual sales revenue of the domestic gaming market in the first half of 2025 is expected to reach 168 billion yuan, marking a year-on-year increase of 14.08%, setting a new historical high [3]. - The number of domestic gaming users is projected to reach 679 million, also achieving a historical peak [3].

Core Viewpoint - The A-share market shows a certain degree of differentiation, with the Shanghai Composite Index performing relatively strong, breaking through the 3600-point mark again, while the ChiNext Index shows weaker performance [2][4]. Market Performance - As of the midday close, the Shanghai Composite Index rose by 0.53% to 3602.13 points, the Shenzhen Component Index increased by 0.14% to 11056.69 points, while the ChiNext Index fell by 0.26% to 2328.36 points [4][5]. - The PEEK materials concept saw significant gains, with stocks like Huami New Materials rising over 20%, and Xinhang New Materials hitting a 20% limit up [2][6]. Sector Performance - In terms of sector performance, industries such as comprehensive, steel, real estate, banking, and agriculture showed notable gains, while sectors like computer, pharmaceutical, and communication experienced declines [5]. Notable Stocks - Huami New Materials saw a rise of 20.23%, with a market cap of 3.998 billion [7]. - Xinhang New Materials reached a limit up, with a market cap of 6.497 billion [7]. - Nanjing Julong increased by 13.63%, with a market cap of 4.116 billion [7]. - Zhongxin Fluorine Materials also hit a limit up [6]. Convertible Bonds - Dongjie Intelligent and its corresponding convertible bond, Dongjie Convertible Bond, both experienced a continuous 20% limit up for three consecutive trading days [9][11]. Overseas Orders - Dongjie Intelligent announced it received an overseas order worth 37.09 million Malaysian Ringgit, approximately 62.5 million RMB, which is expected to positively impact its business performance [12]. Hong Kong Market - In the Hong Kong market, Xindong Company saw a significant rise of over 26% [13][14]. - Xindong Company projected a revenue of no less than 3.05 billion RMB for the first half of the year, a year-on-year increase of approximately 37%, and a net profit of no less than 790 million RMB, a year-on-year increase of about 215% [16].

Group 1 - Xindong Company (02400) reported a positive earnings forecast, expecting revenue of at least RMB 3.05 billion for the first half of 2025, a year-on-year increase of approximately 37%, and a net profit of at least RMB 790 million, a year-on-year increase of about 215% [1] - Yimai Sunshine (02522) also announced a positive earnings forecast, expecting revenue between RMB 450 million to 480 million for the first half of the year, a year-on-year increase of approximately 8.77% to 16.03%, and a net profit of RMB 14.5 million to 16.5 million, a year-on-year increase of about 1350% to 1550% [1] - Tianli International Holdings (01773) plans to repurchase shares up to a total of HKD 200 million based on market conditions, believing that the share buyback plan is in the best interest of the company and its shareholders [2] Group 2 - Liaogang Co., Ltd. (02880) reported a total operating revenue of RMB 5.693 billion for the first half of 2025, a year-on-year increase of 5.93%, and a net profit attributable to shareholders of RMB 956 million, a year-on-year increase of 110.78% [2] - Yuan Zheng Technology (02488) reported a revenue of RMB 982 million for the first half of 2025, a year-on-year increase of 9.75%, and a net profit of RMB 195 million, a year-on-year increase of 27.74% [2] - Geekplus Technology (02590) expects revenue between RMB 995 million to 1.03 billion for the first half of the year, a year-on-year increase of 27% to 32%, while the net loss is expected to narrow significantly [3] Group 3 - Lee & Man Paper Manufacturing (02314) and other leading companies in the paper industry have initiated a price increase for various products starting August 1, indicating a significant acceleration in price adjustment frequency within the industry [3] - Xinda Biopharmaceutical (01801) announced that its innovative oral small molecule GLP-1R agonist IBI3032 has received IND approval from the FDA [4] - Heyu-B (02256) reported a revenue of RMB 612 million for the first half of the year, a year-on-year increase of 23.1%, and a net profit of RMB 328 million, a year-on-year increase of 58.84% [4] Group 4 - Bilibili (BILI.US) is expected to achieve a revenue growth of 20% year-on-year to RMB 7.3 billion in the second quarter, driven by stable performance in mobile games [5][6] - Li Auto (LI.US) launched the Li Xiang i8, with deliveries starting on August 20, and received positive outlooks from multiple institutions [6] - Xpeng Motors (XPEV.US) achieved a new monthly delivery record in July, delivering 36,717 smart electric vehicles, a year-on-year increase of 229% [7]

Core Viewpoint - Xindong Company (02400) announced a positive earnings forecast, expecting significant revenue and profit growth for the first half of 2025, driven by strong performance from self-developed games [1] Financial Performance - The company anticipates revenue of no less than RMB 30.5 billion for the first half of 2025, representing a year-on-year increase of approximately 37% [1] - Expected net profit is projected to be no less than RMB 7.9 billion, reflecting a year-on-year increase of about 215% [1] Game Performance - The revenue growth is primarily attributed to the strong performance of self-developed games such as "Ragnarok M: Beginning," "Xindong Town," and "Torchlight: Infinite" [1] - Despite stable year-on-year average monthly active users, TapTap has seen continuous growth in revenue and profit due to improvements in advertising algorithms and increased user engagement [1] Market Reaction - Following the earnings forecast, Xindong Company's stock opened over 8% higher, with a current increase of 8.55%, trading at HKD 61.6 [1] - The trading volume reached HKD 628.443 million [1] Future Outlook - CICC noted that the company's earnings forecast exceeds both their and market expectations [1] - The company has solid profit margins from its games, with upcoming releases to watch, including "Iser" on September 25, "Xindong Town" overseas, and the core product "RO2" beta test in 2026 [1]