港股午评：恒指涨0.32%，科指大涨1.6%，半导体芯片股强势，三大航空股大幅走低

Market Performance - The Hang Seng Index rose by 0.32% to 25,184.66 points, while the Hang Seng Tech Index increased by 1.61% to 5,586.84 points, and the National Enterprises Index gained 0.53% to 9,022.51 points [1] - Major tech stocks showed an upward trend, with Kuaishou rising over 4%, Xiaomi and Tencent up by 1.6%, and Alibaba increasing by over 1% [1] - Semiconductor stocks surged, with Huahong Semiconductor up over 12% and SMIC rising over 6% [1] - Sportswear stocks continued to rise, with Li Ning increasing over 7% after earnings [1] Company Earnings - China Petroleum & Chemical Corporation reported a revenue of 1,409.05 billion yuan, a decrease of 10.6% year-on-year, and a net profit of 21.483 billion yuan, down 39.8% year-on-year [2] - Kuaishou reported a revenue of 67.654 billion yuan, an increase of 12.04% year-on-year, and a net profit of 8.9 billion yuan, up 9.9% year-on-year [3] - China National Pharmaceutical Group reported a revenue of 36.363 billion yuan, a decrease of 1.48% year-on-year, and a net profit of 0.295 billion yuan, an increase of 1.02% year-on-year [4] - Miniso reported a revenue of 9.393 billion yuan, an increase of 21.1% year-on-year, but a net profit of 0.906 billion yuan, down 22.6% year-on-year [5] - Bilibili reported a revenue of 7.338 billion yuan, an increase of 19.76% year-on-year, and a net profit of 0.219 billion yuan, turning from a loss of 0.609 billion yuan in the previous year [5] Strategic Developments - Shengye has initiated a global strategy to build an AI + international supply chain technology platform [6] - Yuan Zheng Technology plans to develop a strategic layout for equipment assetization and related RWA applications [7] - Oconview Bio-B reported that its OT-301's second Phase III clinical trial achieved its primary endpoint [8] Market Outlook - Huatai Securities noted that the market is in a critical phase with a lack of trading themes and important events pending verification, suggesting a window for position adjustment [9] - UBS indicated that the attractiveness of H-shares' risk-return profile has weakened, predicting potential consolidation in the short term [9] - CITIC Securities highlighted that the half-year earnings reporting period will be crucial for the continuation of the Hong Kong stock market, with a shift from liquidity-driven to earnings-driven market dynamics [9] - Zhongtai International reported a record net inflow for Hong Kong Stock Connect, with $6.03 billion flowing into the Chinese stock market in July, indicating strong domestic investor sentiment [10]