Ge Long Hui·2025-08-15 09:47Group 1 - The core viewpoint of the article indicates that Hong Kong Technology Exploration (01137.HK) reported stable performance in its Hong Kong e-commerce business for July 2025 compared to June 2025 [1] - The average daily gross merchandise value (GMV) remained at HKD 21,800,000 for both July and June 2025, leading to a total monthly GMV of HKD 675,000,000 in July 2025, an increase from HKD 653,000,000 in June 2025, reflecting resilient consumer engagement [1] - However, compared to the same period last year, the average daily GMV and total monthly GMV in July 2025 decreased by 3.5% and 3.6% respectively, indicating ongoing external travel pressures affecting the overall retail market in Hong Kong [1] Group 2 - The number of independent customers increased by 0.7% from June 2025 to reach 605,000, but decreased by 1.6% compared to 615,000 customers in July 2024, also reflecting persistent annual external travel pressures [1]