Major Events - Silver Noble Pharmaceuticals-B (02591) is set to conduct an IPO from August 7 to August 12, with an expected listing date of August 15 [1] - Boan Biotechnology (06955) plans to place 48 million shares at a discount of approximately 8.78%, aiming to raise about HKD 780 million [1] - Derin Holdings (01709) intends to raise HKD 653.3 million, focusing on the development of blockchain, RWA, and virtual asset businesses [1] - Fuhong Hanlin (02696) received FDA approval to initiate a Phase 1 clinical trial for HLX43, a PD-L1 targeted antibody-drug conjugate for thymic cancer treatment [1] - China Biopharmaceuticals (01177) obtained NMPA approval for the Phase II clinical trial application of LM-24C5, a dual-target antibody [1] Financial Reports - China Mobile (00941) reported a mid-year profit attributable to shareholders of HKD 84.235 billion, a year-on-year increase of 5.03% [1] - Manulife Financial-S (00945) announced a core profit of CAD 1.7 billion for the second quarter [1] - Swire Properties (01972) reported a mid-year profit attributable to shareholders of HKD 4.42 billion, a year-on-year growth of 15% [1] - Hutchison Whampoa (00013) disclosed a mid-year net income of USD 455 million, a significant increase of 1663.32% year-on-year [1] - MGM China (02282) reported a mid-year net profit of HKD 2.383 billion, a year-on-year decrease of 11.25% [1] - SMIC (00981) announced a second-quarter profit of USD 132 million, with third-quarter revenue guidance indicating a sequential growth of 5% to 7% [1] - Zai Lab (09688) reported a 15.35% year-on-year increase in total revenue for the first half, reaching approximately USD 216 million [1] - Innovent Biologics (01801) achieved over RMB 5.2 billion in total product revenue for the first half, maintaining a strong growth rate of over 35% year-on-year [1] - Pacific Basin Shipping (02343) reported a mid-year profit attributable to shareholders of USD 25.6 million, a year-on-year decrease of 56% [1] - Lee & Man Paper Manufacturing (02314) announced a mid-year profit of HKD 811 million, a year-on-year increase of 0.7%, with an interim dividend of HKD 0.066 per share [1] - Swire Group reported a mid-year profit attributable to shareholders of HKD 815 million, a year-on-year decrease of 79% [1] - Lee & Man Chemical Company (00746) reported a 36% increase in profit to HKD 327 million, with an interim dividend of HKD 0.195 per share [1] - Hua Hong Semiconductor (01347) announced a second-quarter profit of USD 7.952 million, a year-on-year increase of 19.2% [1] - Wheelock Properties (01997) reported a mid-year loss attributable to shareholders of HKD 2.406 billion, a year-on-year increase of 128.71%, with the first interim dividend of HKD 0.066 per share [1] - Decon Agriculture (02419) issued a profit warning, expecting mid-term biological asset fair value adjustments to yield profits between RMB 1.1 billion and 1.4 billion [1] - Mongolian Mining (00975) issued a profit warning, anticipating a net loss of approximately USD 15 million to 25 million for the first half, marking a shift from profit to loss year-on-year [1] - Dongfeng Motor Group (00489) issued a profit warning, expecting a mid-term net profit decline of 90% to 95% [1]

Core Insights - The world's first RWA registration platform was officially launched on August 7, initiated by the Hong Kong Web3.0 Standardization Association, aiming to facilitate the entire process of RWA asset tokenization [1] - Three standards related to Web3.0 were established on the same day, including guidelines for RWA tokenization, technical specifications for RWA tokenization, and cross-border payment technology specifications for blockchain-based stablecoins [1] Industry Developments - The Greater Bay Area RWA Incubator believes that Hong Kong is systematically constructing a "regulation-innovation-taxation" strategy for virtual assets, which may lead to the listing of more virtual asset ETFs and structured products, thereby integrating traditional finance with virtual asset technologies [1] - Traditional asset liquidity on the blockchain is expected to be significantly released, empowering the real economy [1] Market Trends - Huatai Securities indicates that the stablecoin market is at a critical turning point, evolving from a niche tool primarily serving cryptocurrency trading to becoming an integral part of the global payment and financial infrastructure [1] - In the long term, the demand for stablecoins may be driven by three phases: 1) serving as essential "on-chain cash" benefiting from the growth of crypto assets; 2) facilitating real-world financial applications as a new payment channel, potentially reshaping the global landscape of cross-border payments; 3) extending from finance to decentralized applications in social, gaming, and other ecosystems, capturing value beyond financial applications [1]

Group 1 - The company announced a strategic cooperation memorandum with HashKey Exchange to explore compliant virtual asset allocation and custody business opportunities [1] - The collaboration aims to enhance asset management efficiency and security by leveraging the company's experience in commercial real estate development and operations alongside HashKey Exchange's expertise as a licensed virtual asset exchange in Hong Kong [1] - HashKey Exchange operates under Hash Blockchain Limited and holds licenses from the Hong Kong Securities and Futures Commission for securities trading and automated trading services, as well as a license for a virtual asset trading platform regulated under the Anti-Money Laundering Ordinance [1]

Market Overview - The Shanghai Composite Index rose by 0.12% to close at 3633.99, while the Shenzhen Component Index fell by 0.13% and the ChiNext Index dropped by 0.52% [2][3] - The total market turnover reached 1.21 trillion CNY, showing a significant increase compared to the previous day [5] Semiconductor Industry - The semiconductor industry chain experienced a strong rally, with key sectors such as IGBT, advanced packaging, and memory chips seeing substantial gains [5][9] - Notable stocks included East China Semiconductor and Fuman Micro, both hitting the daily limit up of 20% [9][10] - The overall semiconductor sector rose by 2.13%, with specific segments like memory chips increasing by 2.40% [7] Pharmaceutical Sector - The pharmaceutical and biotechnology sector showed mixed performance, with medical devices remaining active while CRO, innovative drugs, and weight-loss drugs faced declines [15] - Qianhong Pharmaceutical saw a significant drop, hitting the limit down with a decrease of 10.01% [16] - The sector's downturn was reflected in the broader market, with many pharmaceutical stocks declining over 6% [15][17] Hong Kong Market - The Hong Kong stock market also showed positive movement, with the Hang Seng Index rising by 0.52% and the Hang Seng Tech Index increasing by 0.54% [5] - Notable performers included Huahong Semiconductor, which surged over 4% [5][8] Other Notable Stocks - Apple’s supply chain stocks maintained upward momentum, with companies like Furi Electronics achieving a four-day consecutive rise [11] - Cao Cao Travel saw a significant increase of over 19% following a strategic partnership announcement with Victory Securities [18][20]

Core Viewpoint - Derin Holdings (1709.HK) experienced a significant drop of over 9% in intraday trading, reaching a new low of 3.04 HKD since late June, with a trading volume of 810 million HKD [1] Group 1: Fundraising and Share Placement - The company is conducting a placement of 201 million shares using a "old shares first" method, along with an additional placement of 20 million shares under a special authorization agreement [1] - The subscription price for the shares is set at 2.95 HKD each, representing a discount of approximately 11.94% compared to the closing price from the previous day [1] - The total amount raised from this fundraising effort is approximately 653 million HKD [1] Group 2: Use of Proceeds - The funds raised will be utilized to support the company's strategic acquisitions or investments [1] - The capital will also be directed towards expanding the RWA tokenization program and developing Bitcoin mining operations, as well as establishing Bitcoin reserves [1] - Additionally, the company plans to use the funds to create a licensed virtual asset over-the-counter trading and retail network in Hong Kong [1]

Core Viewpoint - Derin Holdings (01709) experienced a significant decline of over 7% in its stock price following the announcement of a share placement and capital raising plan [1] Group 1: Share Placement Details - The company announced a placement of 201 million shares, representing approximately 11.96% of the enlarged share capital, at a price of HKD 2.95 per share, which is about 11.94% lower than the closing price of HKD 3.35 on August 6 [1] - The expected net proceeds from this placement are approximately HKD 581 million [1] Group 2: Additional Share Issuance - The company will also issue 20 million shares to DA Wolf, a company wholly owned by executive director and controlling shareholder Chen Ningdi, at the same price of HKD 2.95 per share, with expected net proceeds of about HKD 58.57 million [1] Group 3: Use of Proceeds - Approximately 30% of the net proceeds will be allocated to support strategic acquisitions and/or investments, and to expand the RWA tokenization plan [1] - About 15% will be used for developing Bitcoin mining operations and establishing Bitcoin reserves [1] - Approximately 7% is earmarked for establishing a licensed virtual asset over-the-counter trading and retail network in Hong Kong, as well as applying for and upgrading compliance licenses for virtual asset-related businesses in Hong Kong and other jurisdictions [1] - Around 8% will be used for further development of the group's digital assets, cryptocurrency, and stablecoin-related business plans [1] - About 10% will be invested in the ONE Carmel premium residential project in the United States [1] - Another 10% will be allocated for information technology facilities and system upgrades [1] - Approximately 10% will be used to create exchange-traded funds and develop quantitative investments [1] - The remaining 10% will be used to supplement working capital and support daily operations [1]

Group 1 - Delin Holdings (01709) opened down over 7%, currently down 7.46% at HKD 3.1, with a trading volume of HKD 609 million [1] - The company announced a placement of 201 million shares at HKD 2.95 per share, representing a discount of approximately 11.94% from the closing price of HKD 3.35 on August 6, aiming to raise approximately HKD 581 million [1] - Additionally, the company plans to issue 20 million shares to DA Wolf, wholly owned by executive director and controlling shareholder Chen Ningdi, at the same price of HKD 2.95, expecting to raise about HKD 58.57 million [1] Group 2 - The net proceeds from the fundraising will be allocated as follows: approximately 30% for strategic acquisitions and/or investments, and expansion of the RWA tokenization plan; about 15% for developing Bitcoin mining operations and establishing Bitcoin reserves; around 7% for establishing a licensed virtual asset OTC and retail network in Hong Kong, and applying for compliance licenses in Hong Kong and other jurisdictions [1] - Approximately 8% will be used for further development of the group's digital assets, cryptocurrency, and stablecoin-related business plans; about 10% for investment in the high-quality residential project ONE Carmel in the U.S.; around 10% for investment in IT facilities and system upgrades; approximately 10% for creating exchange-traded funds and developing quantitative investments; and about 10% for supplementing working capital and supporting daily operations [1]

Group 1 - The company, Derin Holdings (01709), announced a placement and subscription agreement to sell approximately 201 million shares at a price of HKD 2.95 per share, representing a discount of about 11.94% from the last closing price of HKD 3.35 [1] - The placement shares account for approximately 13.58% of the existing issued share capital and about 11.96% after the completion of the subscription [1] - The estimated net proceeds from the placement and subscription are expected to be around HKD 582 million [1] Group 2 - The company entered into a special authorization subscription agreement with DA Wolf Investment I Limited, allowing for the subscription of up to 20 million new shares at the same price of HKD 2.95 per share [2] - The maximum special authorization subscription shares represent about 1.35% of the existing issued share capital [2] - The estimated net proceeds from the special authorization subscription are expected to be approximately HKD 58.57 million [2] Group 3 - The total estimated proceeds from both the placement and special authorization subscription agreements are approximately HKD 653.3 million [3] - The company plans to allocate the net proceeds as follows: 30% for strategic acquisitions and investments, 15% for developing Bitcoin mining operations, 7% for establishing a licensed virtual asset trading network, 8% for further development of digital assets and cryptocurrency-related business plans, 10% for investing in a premium residential project in the US, 10% for IT infrastructure upgrades, 10% for creating exchange-traded funds and developing quantitative investment capabilities, and 10% for supplementing working capital [3]

Group 1 - The stock of Yaocai Securities (01428) rose nearly 8%, reaching HKD 12.36 with a trading volume of HKD 395 million [1] - The Hong Kong Stablecoin Regulation came into effect on August 1, leading to speculation that major internet companies like JD.com and Ant Group might withdraw from the initial licensing competition due to high compliance thresholds [1] - JD.com quickly refuted rumors, stating that it is preparing to apply for a stablecoin license [1] Group 2 - Ant Group has not officially responded to inquiries regarding its participation in the Hong Kong stablecoin market, but it is believed that both companies are unlikely to withdraw given their current strategies [1] - Ant International plans to submit its application promptly after the regulation's implementation and is accelerating investments and partnerships in global treasury management [1] - In April, Ant Group announced plans to acquire 50.55% of Yaocai Securities, which could enhance Yaocai's virtual asset business potential through Ant's Web 3.0 technology and licensing strategies [1] Group 3 - Yaocai Securities has the potential to upgrade its existing licenses to facilitate virtual asset trading, including stablecoins, and to provide advice on virtual assets [1] - There is a possibility that Yaocai may apply for a Virtual Asset Trading Platform (VATP) license with the SFC [1]

耀才证券金融(01428)午后涨近8%，截至发稿，涨7.95%，报12.36港元，成交额3.95亿港元。 蚂蚁国际此前表示，计划在8月1日香港《稳定币条例》生效后尽快提交申请，正在全球财资管理方面加 速投资、拓展合作。据悉，今年4月，蚂蚁集团计划收购耀才证券50.55%的股份。国金证券指出，依托 于蚂蚁在web3.0技术、牌照等方面布局，或将打开耀才虚拟资产业务想象空间。耀才将现有的1号牌升 级即可接入虚拟资产交易，包括稳定币；将现有的4号牌升级即可就虚拟资产提供意见；将现有的9号牌 升级即可管理投资超过10%于虚拟资产的投资组合；不排除耀才向SFC提交虚拟资产交易平台VATP牌照 申请的可能性。 消息面上，8月1日香港《稳定币条例》生效。近日有市场传闻称，京东、蚂蚁等互联网巨头或因合规门 槛过高，主动退出首批牌照角逐。京东方面迅速予以辟谣称，京东币链正在进行稳定币牌照申请的准备 工作。而据巴伦中文网向蚂蚁方面进行求证，截止发稿其官方未进行回应；巴伦中文网认为，以当前蚂 蚁和京东双方的相关布局来看，两方主动缺席香港稳定币市场的概率极低。 ...