信达国际控股港股晨报-20250703

Market Overview - The Hang Seng Index is facing resistance at 24,700 points, with a projected P/E ratio of 11 times over the next 12 months [2] - The recent US-China trade talks have led to a reduction in tariffs, with US tariffs on Chinese imports dropping from 145% to 30%, and Chinese tariffs on US imports decreasing from 125% to 10% [2] - The inflow of capital from mainland investors has slowed, and corporate earnings improvements are limited [2] Economic Indicators - The People's Bank of China (PBOC) has mandated that cash transactions over 100,000 RMB for gold and diamonds must be reported starting August [4] - The National Development and Reform Commission (NDRC) has completed the allocation of 800 billion RMB for construction projects this year [4] - Hong Kong's retail sales rose by 2.4% in May, ending a 14-month decline [4][10] Corporate News - Luxshare Precision is planning to raise 1 billion USD through an H-share listing in Hong Kong [5][11] - Alibaba repurchased approximately 56 million shares for 805 million USD in the last quarter [11] - Xiaomi is prioritizing domestic delivery issues for its new car model YU7, with plans to expand production [11] - Geely is set to launch its brand of cars in the UK, starting with the electric SUV EX5 [11] IPO Market - PwC forecasts that Hong Kong's IPO fundraising will exceed 200 billion RMB this year, potentially making it the top global market [9] - The first half of the year saw Hong Kong's IPO market raise 107.1 billion RMB, a sevenfold increase from the previous year [9] Sector Focus - The biotech sector is expected to benefit from new government measures supporting high-quality development [8] - Macau's gaming revenue in June increased by 19% year-on-year, surpassing expectations [8] - The textile sector anticipates improved orders following Nike's performance [8] Banking Sector - KPMG reported that Hong Kong's banking sector showed resilient growth, with total assets increasing by 4.5% to 24 trillion RMB [10] - The non-performing loan ratio rose from 1.65% to 2.15%, primarily due to challenges in the commercial real estate sector [10]