Core Insights - The company reported a revenue of RMB 1.078 billion for the six months ending June 30, 2025, representing a year-on-year increase of 14.8% [1] - Adjusted profit from continuing operations reached RMB 77.012 million, a significant increase of 152.5% year-on-year [1] - The profit attributable to equity shareholders was RMB 67.526 million, compared to a loss of RMB 235 million in the same period last year, with earnings per share at RMB 0.08 [1] AI Technology and Innovation - The company has positioned AI technology as the core driver for product upgrades and innovation [1] - The AI retail core solution has achieved full-chain intelligence, aiding retailers in their transformation [1] - The company successfully implemented its first AI-enabled Transportation Management System (TMS) overseas during the reporting period [1] - AI has been utilized to optimize public domain operation strategies while integrating local life service platforms [1] - Continuous iteration of smart inspection and smart clearing solutions has expanded application scenarios, enhancing customer competitiveness and market service levels [1] Internal Development and Efficiency - The company has deeply integrated AI coding into its internal research and development processes [1] - The entire R&D team utilizes new generative AI coding tools like Cursor for various tasks, including code generation, bug localization, code optimization, and intelligent code completion [1] - This integration has effectively driven improvements in R&D efficiency and code quality, accelerating product iteration cycles and providing strong momentum for technological innovation and business development [1]

[Performance Summary](index=2&type=section&id=Performance%20Summary) The company achieved a significant H1 2025 turnaround, with total revenue up 14.8% to RMB 1.078 billion and a net profit of RMB 62.17 million, reversing a prior-year loss [Financial Highlights](index=2&type=section&id=Financial%20Highlights) The company achieved a significant turnaround in H1 2025, with total revenue growing 14.8% to RMB 1.078 billion and a net profit of RMB 62.17 million, reversing a prior-year loss of RMB 249 million Financial Highlights for the Six Months Ended June 30 | Metric | H1 2025 (RMB Thousand) | H1 2024 (RMB Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,078,425 | 939,162 | 14.8% | | Gross Profit | 413,929 | 359,254 | 15.2% | | Profit/(Loss) for the Period | 62,174 | (249,072) | N/A | | Adjusted Profit from Continuing Operations for the Period | 77,012 | 30,497 | 152.5% | [Key Financial Statements](index=3&type=section&id=Key%20Financial%20Statements) Financial statements for the period reflect significant improvements, with profit or loss shifting from substantial loss to profitability and the financial position showing stable asset and liability structures [Consolidated Statement of Profit or Loss](index=3&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2025, the company achieved a significant turnaround from a RMB 249 million loss to a RMB 62.17 million profit, driven by revenue growth and the absence of large fair value changes in convertible preferred shares Key Items from Consolidated Statement of Profit or Loss (RMB Thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Revenue | 1,078,425 | 939,162 | | Gross Profit | 413,929 | 359,254 | | Operating Profit/(Loss) | 60,145 | (81,156) | | Fair Value Change of Convertible Redeemable Preferred Shares | – | (397,118) | | Profit/(Loss) from Continuing Operations for the Period | 62,174 | (482,206) | | Profit/(Loss) for the Period | 62,174 | (249,072) | | Basic Earnings/(Loss) Per Share (RMB) | 0.08 | (0.45) | [Consolidated Statement of Financial Position](index=6&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets were RMB 1.399 billion, total liabilities RMB 766 million, and net assets RMB 633 million, with net current assets of RMB 326 million indicating strong short-term solvency Consolidated Statement of Financial Position Summary (RMB Thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | 1,399,189 | 1,659,186 | | Total Liabilities | 766,191 | 1,018,157 | | Net Assets | 632,998 | 641,029 | | Cash and Cash Equivalents | 565,864 | 801,046 | | Bank Loans and Other Borrowings | 369,308 | 529,646 | [Management Discussion and Analysis](index=16&type=section&id=Management%20Discussion%20and%20Analysis) This section details the company's strategic business advancements, including AI-driven product innovation and Web3 expansion, alongside a comprehensive analysis of its strong financial performance [Business Review](index=16&type=section&id=Business%20Review) In H1 2025, the company achieved high-quality business growth driven by AI technology, product innovation, and a dual-dimensional strategy, while actively expanding into Web3 through strategic partnerships - The company leverages AI technology as a core driver, comprehensively advancing product upgrades and innovation, and integrating AI coding into internal R&D processes to enhance efficiency[34](index=34&type=chunk) - As of June 30, 2025, the customer net revenue retention rate for the twelve months was **107%**, consistently exceeding 100% over multiple periods[36](index=36&type=chunk) - The company signed a strategic cooperation agreement with HashKey Group to expand into digital asset trading, Web3 technology, and blockchain ecosystems, initiating Bitcoin investments and preparing for stablecoin license applications[38](index=38&type=chunk)[40](index=40&type=chunk) [AI Retail Core Solutions Review](index=18&type=section&id=AI%20Retail%20Core%20Solutions%20Review) The AI Retail Core Solutions business achieved continuous upgrades and market expansion, launching its first overseas AI-powered TMS system, integrating with local life service platforms, and securing new domestic and international clients - Successfully launched the first overseas AI-powered Transportation Management System (TMS) at DFI Retail Group's Wellcome Supermarket in Hong Kong, utilizing AI for intelligent route planning to enhance dispatch efficiency and punctuality[42](index=42&type=chunk) - As one of the first technical service providers, the company integrated with Douyin's group-buying feature, developing a mini-program for coupon redemption and product add-ons, and using AI to optimize coupon strategies and inventory forecasting[45](index=45&type=chunk) - New benchmark clients signed in the domestic market include Shanghai Sugar & Wine Group, Xinjiang Huijia Times, and Ningxia Xiaoren Fruit Industry; international collaborations deepened with DFI Retail Group and SM Group[35](index=35&type=chunk)[50](index=50&type=chunk)[51](index=51&type=chunk) [AI Retail Value-added Services Review](index=24&type=section&id=AI%20Retail%20Value-added%20Services%20Review) AI Retail Value-added Services saw continuous innovation, with smart loss prevention recovering over RMB 3 million in losses and remote guarding serving over 400 stores, while expanding partnerships with leading enterprises and new clients - The smart loss prevention solution continued to iterate, helping a major retailer recover over **RMB 3 million** in merchandise losses within one year of deployment, saving **30%** in labor costs and improving loss recovery efficiency by **60 times**[54](index=54&type=chunk) - The remote guarding system served over **400 stores**, generating **1.86 million** unmanned night service orders, **RMB 28.13 million** in new night sales, and acquiring **510,000** new customers[54](index=54&type=chunk) - Business expansion achieved significant results, with a comprehensive partnership established with Xinjiang Aijia, one of the top three supermarket chains in Xinjiang, providing smart store services including loss prevention, inspection, and cashiering[57](index=57&type=chunk) [Business Outlook for 2025](index=26&type=section&id=Business%20Outlook%20for%202025) Looking ahead, the company will continue to embrace AI and technological innovation to develop smarter solutions, while actively exploring new opportunities in stablecoins and blockchain payments within the Web3 sector - The company will steadfastly embrace AI, with technological innovation as its core engine[58](index=58&type=chunk) - The company is optimistic about the future of the Web3 industry and will continue to actively explore potential new businesses in stablecoins and blockchain payments to serve its retail customers[58](index=58&type=chunk) [Financial Review](index=26&type=section&id=Financial%20Review) H1 2025 saw strong financial performance with total revenue up 14.8% to RMB 1.078 billion, gross profit up 15.2% to RMB 414 million, and a net profit of RMB 62.17 million, driven by revenue growth and cost control [Revenue Analysis](index=26&type=section&id=Revenue%20Analysis) Total revenue increased 14.8% to RMB 1.078 billion, with AI Retail Core Solutions growing 16.2% to RMB 488 million and AI Retail Value-added Services growing 13.7% to RMB 591 million Revenue by Business Segment (RMB Thousand) | Business Segment | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | AI Retail Core Solutions | 487,868 | 419,838 | 16.2% | | AI Retail Value-added Services | 590,557 | 519,324 | 13.7% | | **Total** | **1,078,425** | **939,162** | **14.8%** | Revenue by Geographical Location (RMB Thousand) | Region | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Mainland China | 1,002,180 | 864,121 | 16.0% | | Overseas | 76,245 | 75,041 | 1.6% | | **Total** | **1,078,425** | **939,162** | **14.8%** | [Cost and Gross Profit Analysis](index=31&type=section&id=Cost%20and%20Gross%20Profit%20Analysis) Operating costs increased 14.6% to RMB 664 million, maintaining a stable gross margin of 38.4%, with AI Retail Core Solutions' margin decreasing due to project ramp-up and AI Retail Value-added Services' margin significantly improving Gross Profit and Gross Margin Analysis | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Gross Profit (RMB Thousand) | 413,929 | 359,254 | | Gross Margin (%) | 38.4% | 38.3% | | **Segment Gross Margin** | | | | AI Retail Core Solutions | 68.3% | 76.8% | | AI Retail Value-added Services | 13.7% | 7.1% | [Operating Expenses Analysis](index=33&type=section&id=Operating%20Expenses%20Analysis) Sales and marketing expenses increased 47.7% to RMB 63.4 million due to overseas expansion, while R&D expenses decreased 6.5% to RMB 190 million, reflecting cost control and efficiency gains from AI tools - Sales and marketing expenses increased **47.7%** year-on-year to **RMB 63.4 million**, primarily due to overseas business development and increased marketing activities[76](index=76&type=chunk) - R&D expenses decreased **6.5%** year-on-year to **RMB 190 million**, attributed to cost control, enhanced efficiency through AI tools, and accumulated technological capabilities[78](index=78&type=chunk) [Profitability Analysis](index=35&type=section&id=Profitability%20Analysis) The company's profitability fundamentally improved, with profit from continuing operations reaching RMB 62.17 million, reversing a RMB 482 million loss, and adjusted profit from continuing operations surging 152.5% to RMB 77.01 million - The company recorded a profit of **RMB 62.17 million** from continuing operations for the period, compared to a loss of **RMB 482 million** in the prior year, successfully turning losses into profit[81](index=81&type=chunk) Adjusted Profit Reconciliation Statement (RMB Thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Profit/(Loss) from Continuing Operations for the Period | 62,174 | (482,206) | | Add: Equity-settled Share-based Payment Expenses | 15,720 | 8,330 | | Add: Fair Value Change of Convertible Redeemable Preferred Shares | – | 397,118 | | Add: Fair Value Change of Equity Investments | 2,433 | 86,883 | | Add: Listing Expenses | – | 20,372 | | **Adjusted Profit from Continuing Operations for the Period** | **77,012** | **30,497** | [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the company maintained a strong financial position with RMB 566 million in cash and cash equivalents, a reduced debt-to-asset ratio of 54.8%, and decreased bank loans, indicating a robust capital structure - As of June 30, 2025, cash and cash equivalents were **RMB 566 million**, a decrease from **RMB 801 million** at the end of 2024, primarily due to repayment of bank loans, acquisition of non-controlling interests, and ordinary share repurchases[94](index=94&type=chunk) - The adjusted debt-to-asset ratio decreased from **61.4%** at the end of 2024 to **54.8%** as of June 30, 2025[93](index=93&type=chunk) - Total outstanding bank loans and other borrowings decreased from **RMB 530 million** at the end of 2024 to **RMB 369 million**[96](index=96&type=chunk) [Notes to Financial Statements](index=8&type=section&id=Notes%20to%20Financial%20Statements) This section provides detailed disclosures for key financial statement items, including revenue segmentation, earnings per share, trade receivables and payables, and dividend policies [Revenue and Segment Reporting](index=8&type=section&id=Revenue%20and%20Segment%20Reporting) The company restructured revenue into AI Retail Core Solutions and AI Retail Value-added Services, contributing RMB 488 million and RMB 591 million respectively to the total RMB 1.078 billion revenue, with mainland China accounting for 92.9% - The company restructured its revenue into two core segments: AI Retail Core Solutions (formerly Operating Systems) and AI Retail Value-added Services (formerly AIoT Solutions and Other Businesses)[15](index=15&type=chunk) Segment Revenue and Gross Profit (H1 2025, RMB Thousand) | Segment | Revenue | Gross Profit | | :--- | :--- | :--- | | AI Retail Core Solutions | 487,868 | 333,316 | | AI Retail Value-added Services | 590,557 | 80,613 | | **Total** | **1,078,425** | **413,929** | - During the reporting period, revenue from the single largest customer group (Customer A) was **RMB 743 million**, accounting for approximately **68.9%** of total revenue[17](index=17&type=chunk) [Earnings Per Share](index=12&type=section&id=Earnings%20Per%20Share) The company achieved profitability with a net profit of RMB 67.53 million attributable to equity holders, resulting in basic and diluted earnings per share of RMB 0.08, a significant improvement from a loss of RMB 0.45 per share in the prior year Earnings Per Share Calculation | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Profit/(Loss) Attributable to Equity Holders (RMB Thousand) | 67,526 | (234,875) | | Weighted Average Number of Ordinary Shares | 892,749,239 | 525,150,000 | | Basic Earnings/(Loss) Per Share (RMB) | 0.08 | (0.45) | | Diluted Earnings/(Loss) Per Share (RMB) | 0.08 | (0.45) | [Trade Receivables and Payables](index=13&type=section&id=Trade%20Receivables%20and%20Payables) As of June 30, 2025, net trade receivables increased to RMB 308 million and trade payables to RMB 115 million, with the majority of both balances aged within three months, indicating healthy working capital management - Trade receivables increased from **RMB 248 million** to **RMB 308 million**, and trade payables increased from **RMB 98.53 million** to **RMB 115 million**[28](index=28&type=chunk)[29](index=29&type=chunk) - As of June 30, 2025, approximately **68.7%** of trade receivables (**RMB 212 million**) and **94.2%** of trade payables (**RMB 108 million**) were aged within three months[29](index=29&type=chunk) [Dividends](index=15&type=section&id=Dividends) The company neither paid nor declared any dividends for the six months ended June 30, 2025, nor did it propose any interim dividends after the reporting period - The company neither paid nor declared any dividends for the six-month periods ended June 30, 2025, and June 30, 2024[30](index=30&type=chunk) [Other Important Information](index=42&type=section&id=Other%20Important%20Information) This section covers additional significant disclosures, including the utilization of global offering proceeds, post-reporting period events, human resources, and corporate governance practices [Use of Proceeds from Global Offering](index=44&type=section&id=Use%20of%20Proceeds%20from%20Global%20Offering) The company utilized HKD 220 million of the HKD 630 million net proceeds from its December 2024 global offering by June 30, 2025, primarily for new application development, talent acquisition, and sales network expansion Use of Net Proceeds (HKD Million) | Planned Use | Total Amount | Utilized During Reporting Period | Unutilized Amount | | :--- | :--- | :--- | :--- | | Development of New Applications and Service Modules | 265.5 | 82.0 | 177.2 | | Talent Acquisition | 189.1 | 76.8 | 112.2 | | Strategic Cooperation, Investments, and Acquisitions | 63.0 | 0 | 63.0 | | Expansion of Sales Network and Brand Reputation | 49.8 | 21.4 | 28.4 | | Working Capital and General Corporate Purposes | 63.0 | 39.3 | 5.7 | | **Total** | **630.4** | **219.5** | **386.5** | [Events After the Reporting Period](index=45&type=section&id=Events%20After%20the%20Reporting%20Period) Subsequent to the reporting period, the company completed a placement and subscription in July 2025, raising approximately HKD 388 million in net proceeds for R&D investments in stablecoins and blockchain, technology enhancement, and general corporate purposes - In July 2025, the company completed a placement and subscription, issuing **35,400,000** shares at **HKD 11.1** per share[110](index=110&type=chunk) - The net proceeds from this subscription, approximately **HKD 388 million**, are intended for R&D investments in stablecoins and blockchain, technology enhancement, and general corporate purposes[110](index=110&type=chunk) [Human Resources](index=42&type=section&id=Human%20Resources) As of June 30, 2025, the group had 1,340 employees, with R&D personnel comprising 56.0%, and employee costs decreased from RMB 349 million to RMB 322 million, reflecting cost optimization efforts Number of Employees by Function (As of June 30, 2025) | Function | Number of Employees | Percentage | | :--- | :--- | :--- | | Sales and Marketing | 84 | 6.3% | | Research and Development | 752 | 56.0% | | Operations | 321 | 24.0% | | General and Administrative | 183 | 13.7% | | **Total** | **1,340** | **100%** | - Employee costs decreased from **RMB 349 million** for the six months ended June 30, 2024, to **RMB 322 million** during the reporting period[106](index=106&type=chunk) [Corporate Governance](index=46&type=section&id=Corporate%20Governance) The company maintains high corporate governance standards, adhering to all applicable provisions of the HKEX Corporate Governance Code during the reporting period, with the audit committee reviewing the unaudited consolidated financial statements - During the reporting period, the company consistently complied with all applicable provisions of the Corporate Governance Code[113](index=113&type=chunk) - The Audit Committee reviewed the Group's unaudited consolidated financial statements for the reporting period[115](index=115&type=chunk)

Dmall Inc. 多点數智有限公司 （於 英 屬 維 爾 京 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2586） 提名委員會的職權範圍 多點數智有限公司（「本公司」）根 據 本 公 司 董 事 會（「董事會」）於2024年11月 26日 通 過 的 決 議 案 成 立 提 名 委 員 會（「委員會」）。下 文 載 列 委 員 會 的 職 權 範 圍（「職權範圍」）（經 修 訂）。職 權 範 圍 備 有 英 文 及 中 文 版 本 以 供 閱 覽。如 職 權 範 圍 的 英 文 及 中 文 版 本 出 現 任 何 歧 義，概 以 英 文 版 本 為 準。 1. 目 的 1.1 委 員 會 旨 在 物 色、考 慮 及 向 董 事 會 推 薦 合 適 人 選 出 任 本 公 司 董 事， 監 督 評 估 董 事 會 表 現 的 程 序，制 訂 提 名 指 引 及 就 此 向 董 事 會 提 供 建 議，當 中 應 符 合 任 何 適 用 法 律、法 規 及 上 市 準 則。 2. 組 成 – 1 – 2.1 委 員 會 成 員 應 由 董 事 會 不 時 委 任，且應包括 至 少 一 名 ...

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 | | | 致：香港交易及結算所有限公司 公司名稱: 多点数智有限公司 呈交日期: 2025年8月6日 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02586 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 900,770,783 | | 0 | | 900,770,783 | | 增加 / 減少 (-) | | | 36,241,703 | | 0 | | | | 本月底結存 | | | 937,012,486 | | 0 | | 937,012,486 | 第 2 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股 ...

格隆汇8月1日丨多点数智(02586.HK)公告，董事会会议将于2025年8月13日(星期三)举行，藉以(其中包 括)考虑及批准集团截至2025年6月30日止6个月的中期业绩及其发布，并考虑建议派发中期股息(如有)。 ...

承董事會命 多点數智有限公司 主 席 馮廣晟先生 香 港，2025年8月1日 於 本 公 告 日 期，董 事 會 包 括(i)執 行 董 事 張 峰 先 生；(ii)非執行董事馮廣晟 先 生、陳 志 宇 先 生 及 王 正 浩 先 生；及(iii)獨 立 非 執 行 董 事 侯 陽 博 士、蔡 琳 女 士、毛 基 業 博 士 及 李 維 先 生。 Dmall Inc. 多点數智有限公司 （於 英 屬 維 爾 京 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2586） 董事會會議通告 多 点 數 智 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於2025年8月13日（星 期 三）舉 行，藉 以（其 中 包 括）考 慮 及 批 准 本 集 團 截 至2025年6月30日止六個月的中 期業績及其發佈，並 考 慮 建 議 派 發 中 期 股 息（如 有）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 ...

此外，多点数智公布，配售事项已于2025年7月21日根据配售及认购协议的条款及条件完成，经办人已 以尽最大努力成功配售合共3540万股配售股份予不少于六名承配人，配售价为每股配售股份11.1港元。 由于完成认购事项的所有条件均已达成，公司根据配售及认购协议的条款及条件于2025年7月25日按每 股认购股份11.1港元向卖方配发及发行3540万股认购股份。认购事项的所得款项净额约3.88亿港元。 香港联交所最新资料显示，7月31日，多点数智(02586)股东将股票存入德意志银行，存仓市值44.13亿， 占比45.19%。7月21日，多点数智股东将股票由国泰君安(香港)转入港股通(沪)，转仓市值4.71亿港元， 占比4.40%。 ...

此外，多点数智公布，配售事项已于2025年7月21日根据配售及认购协议的条款及条件完成，经办人已 以尽最大努力成功配售合共3540万股配售股份予不少于六名承配人，配售价为每股配售股份11.1港元。 由于完成认购事项的所有条件均已达成，公司根据配售及认购协议的条款及条件于2025年7月25日按每 股认购股份11.1港元向卖方配发及发行3540万股认购股份。认购事项的所得款项净额约3.88亿港元。 智通财经APP获悉，香港联交所最新资料显示，7月31日，多点数智(02586)股东将股票存入德意志银 行，存仓市值44.13亿，占比45.19%。7月21日，多点数智股东将股票由国泰君安(香港)转入港股通 (沪)，转仓市值4.71亿港元，占比4.40%。 ...

Market Performance - Today, Hong Kong stocks showed significant movements with various companies experiencing notable gains, including Now Medical Technology (02225) which rose over 5% after a partnership with David Medical to develop "Minimally Invasive 5.0" technology [1] - Semiconductor stocks also saw an uptick, with Huahong Semiconductor (01347) increasing by 4.12%, and SMIC (01347) rising by 3.11% [1][2] - Hong Kong Travel (00308) surged over 14%, doubling its stock price in less than a month, driven by speculation in the tourism industry [1] - Meituan-W (03690) rose over 3% as it led an investment in Star Sea Map, furthering its focus on embodied intelligence [1] - The insurance sector saw broad gains, with China Pacific Insurance (02601) up 4.88% and China Life Insurance (02318) increasing by 3.19% [1] Company-Specific Developments - Alibaba-W (09988) increased over 3%, although its investment in instant retail and delivery services may impact profitability, according to HSBC [2] - Qian Shi International (00381) skyrocketed by over 55% due to a proposed digital economy collaboration involving a stablecoin mechanism [2] - Stablecoin-related stocks rose, with Guotai Junan International (01788) up 9.13% and China Everbright Holdings (00165) increasing by 4.83% [2] - Yadi Holdings (01585) gained over 4% following the announcement of a new electric vehicle replacement program [3] - WuXi AppTec (02359) opened nearly 5% higher after announcing expected revenue exceeding 20 billion yuan and a projected doubling of net profit [3] Industry Trends - The electric vehicle sector is expected to see growth due to a new replacement program, which could accelerate industry expansion [3] - The rare earth sector is also experiencing upward momentum, with Jinli Permanent Magnet (06680) rising over 5% after major players announced price increases [3] - The biotechnology sector is witnessing positive developments, with Xiansheng Pharmaceutical (02096) gaining over 3% after a collaboration with Conade Biopharmaceuticals [2][3]

Market Overview - US President Trump has issued new tariff policy letters to 14 countries, leading to a rebound in Hong Kong stocks, with the Hang Seng Index rising 1.09% to 24,148.07 points, ending a three-day decline [1] - The total trading volume for the day was HKD 213.29 billion, indicating active market participation [1] - The Hong Kong Monetary Authority has withdrawn HKD 59.072 billion in liquidity since June 28, tightening liquidity expectations in the short term [1] Blue Chip Performance - Xinyi Solar (00968) led blue-chip gains, rising 5.43% to HKD 2.91, contributing 1.04 points to the Hang Seng Index [2] - Kuaishou-W (01024) and Chow Tai Fook (01929) also saw significant increases of 5.16% and 4.42%, respectively [2] - However, Orient Overseas International (00316) and China Biologic Products (01177) experienced declines, dragging down the index [2] Sector Highlights - Large tech stocks rebounded, with Kuaishou rising over 5% and Meituan and JD.com both increasing over 2% [3] - Stablecoin concept stocks surged, with Jinyong Investment (01328) skyrocketing 533.17% after announcing a partnership with AnchorX [3] - The Macau gaming sector showed strong performance, with total gaming revenue for the first six days of July reaching MOP 4.3 billion, indicating a robust recovery [6] Solar Industry Insights - The solar sector saw strong gains, with New Special Energy (01799) up 12.65% and GCL-Poly Energy (03800) up 10.81% [5] - Recent government meetings emphasized the need to address low-price competition and improve product quality in the solar industry, suggesting potential for supply-side reforms [5] Gaming Sector Developments - Macau's gaming stocks continued to rise, with Wynn Macau (01128) up 6.4% and MGM China (02282) up 3.29% [6] - Morgan Stanley's report indicated that Macau's gaming revenue is expected to see double-digit year-on-year growth in July, marking a cyclical turning point for the industry [6] New Consumption Trends - New consumption stocks performed well, with brands like Blukoo (00325) and Cha Ba Dao (02555) seeing significant increases [6][7] - Gold stocks also rebounded, with Tongguan Gold (00340) rising 6.37% [7] Stablecoin Regulatory Developments - Jinyong Investment announced a strategic partnership with AnchorX to explore potential collaborations in digital asset management and stablecoin applications [4] - The Hong Kong Monetary Authority is consulting the market on regulatory guidelines for stablecoins, with expectations for a limited number of licenses to be issued [4] Logistics Sector Performance - Jitu Express-W (01519) reached a new high, with a reported 23.5% year-on-year increase in package volume for Q2 2025 [9] - The company achieved a total package volume of 139.9 billion for the first half of 2025, reflecting strong growth in the logistics sector [9] AI and Technology Sector Insights - Hongteng Precision (06088) saw an increase of 8.82%, driven by growing demand for AI-related solutions [10] - The company is expected to benefit from its parent group's resources and the increasing demand for AI computing power [10]