信达国际控股港股晨报-20250623

Market Overview - The Hang Seng Index is expected to test the June low of 22,668 points, influenced by a series of financial policies introduced in mainland China to stabilize the market, including reserve requirement ratio cuts and interest rate reductions [2] - The U.S. and China have agreed to lower tariffs, with U.S. tariffs on Chinese imports decreasing from 145% to 30%, and Chinese tariffs on U.S. goods dropping from 125% to 10% for a 90-day period [2] - The Hang Seng Index's valuation has returned to a reasonable level, but rising geopolitical tensions may increase risk aversion among investors [2] Sector Focus - The report highlights a positive outlook for certain sectors, particularly in light of the U.S. manufacturing PMI data for June [3] Corporate News - Pop Mart (9992) has established a film studio to produce the animated series "Labubu and Friends" [5] - China Shenhua (1088) plans to maintain cash dividends of no less than 65% of net profit attributable to the parent company [5] - Union Pharmaceuticals (3933) received a $180 million advance payment from Novo Nordisk as part of an exclusive development agreement [5] - ZhongAn Online (6060) experienced a 3.8% reduction in shares held by Ant Group, raising approximately 655 million yuan [5] Macroeconomic Focus - The U.S. Federal Reserve maintained interest rates, indicating reduced uncertainty in the economic outlook but acknowledging persistent inflation risks [4] - The report notes that the core PCE forecast for 2025-2027 has been adjusted upward, with expectations of two rate cuts this year totaling 0.5 percentage points [4] - The report discusses the ongoing trade negotiations between the U.S. and various countries, with some progress noted but still subject to change [4] Economic Indicators - The Hang Seng Index closed at 23,530 points, up 1.26% year-to-date, while the Hang Seng Tech Index rose 0.88% [7] - The report indicates that the consumer price index in Hong Kong rose by 1.9% year-on-year in May, lower than expected [10] - The report highlights that the Chinese retail sales during the "618" shopping festival increased by 15.2% year-on-year, with total sales reaching 855.6 billion yuan [10] Company Developments - Lens Technology is reportedly assessing investor interest in its Hong Kong listing, with a total revenue of 69.897 billion yuan last year, up 28.27% [12] - Weichai Power's subsidiary, Weichai Lovol, has submitted a listing application to the Hong Kong Stock Exchange [12] - Kuaishou's e-commerce platform reported significant growth during the "618" shopping festival, with over 60% more merchants achieving sales exceeding 100 million yuan [12] - Douyin's e-commerce platform also reported that nearly 2,406 brands achieved sales exceeding 100 million yuan during the same period [12]