Core Viewpoint - The article draws a parallel between investing and watching sunsets, emphasizing the unpredictability and risks involved in both activities, while also highlighting the importance of taking action despite potential challenges [8][10]. Group 1: Investment Risks and Uncertainties - Investing in stocks or industries often involves encountering unexpected situations, such as business difficulties, unfavorable industry policies, or sudden competition [9]. - Market conditions can also pose risks, as seen in the Hong Kong market from 2022 to 2023, where high-quality companies traded at significantly low price-to-earnings ratios, causing investor discomfort [9]. Group 2: Importance of Timing and Conditions - Just as one must choose the right time to watch a sunset, investors must also select appropriate moments to invest, avoiding periods of high uncertainty or risk [11]. - High valuations and excessive leverage in industries, such as the real estate sector in 2020, can indicate unfavorable conditions for investment, similar to attempting to watch a sunset during a storm [13]. Group 3: Learning and Experience - Investors should focus on understanding fundamental business and financial principles, and be willing to invest when conditions are favorable, even if immediate returns are not guaranteed [14]. - Gaining experience through investment, even in less than ideal situations, can lead to improved performance over time, contrasting with the stagnation of keeping money in a bank [14].

Core Viewpoint - China Tiangong Holdings (00428) expects to achieve a profit of approximately HKD 2.5 million to HKD 3.5 million for the six-month period ending June 30, 2025, compared to a net loss of approximately HKD 19 million in the same period of 2024 [1] Group 1 - The turnaround from loss to profit is primarily attributed to a reduction in unrealized net losses on listed securities [1] - The increase in realized gains from the sale of certain publicly traded securities during the reporting period also contributed to the profit [1]

Group 1 - The stock of Zhongce Capital Holdings (00235) increased by 6.45% on August 15, reaching a price of 0.033 HKD per share with a trading volume of 1.1537 million HKD [1] - Zhongce Capital Holdings primarily engages in securities and bond investment, loan financing, metal minerals, coke products, electronic component trading, and securities brokerage [1] - The company has been listed on the Hong Kong Stock Exchange since 1972, with the stock code 235 [1] Group 2 - As of the 2024 annual report, Zhongce Capital Holdings reported total revenue of 95.233 million HKD and a net profit of 4.1755 million HKD [2]

Core Viewpoint - Baide International (02668) has seen a significant stock price increase of over 21%, with a cumulative rise of more than 300% since the end of June, reflecting strong market performance and investor interest [1] Company Overview - Baide International primarily engages in the trading of non-ferrous metals and construction materials, with five main business segments: supply chain services, hotel management and catering services, equipment leasing, property investment, and securities investment [1] Financial Performance - For the fiscal year 2024, Baide International reported revenues of HKD 675 million, representing a year-on-year increase of 59.71% [1] - The company recorded a loss attributable to equity shareholders of HKD 229 million, which is a 13.61% increase compared to the previous year [1] - The revenue growth is primarily attributed to the recovery in the supply chain business, which generated HKD 575.9 million, up from HKD 298.3 million in the previous year, indicating improved business performance and market conditions [1]

Core Viewpoint - Baide International (02668) has seen a significant stock price increase of over 21%, with a cumulative rise of more than 300% since the end of June, reflecting strong market performance and investor interest [1] Company Overview - Baide International primarily engages in the trading of non-ferrous metals and construction materials, operating through five main business segments: supply chain services, hotel management and catering, equipment leasing, property investment, and securities investment [1] Financial Performance - For the fiscal year 2024, Baide International reported revenues of HKD 675 million, representing a year-on-year increase of 59.71% [1] - The company recorded a loss attributable to equity shareholders of HKD 229 million, which is a 13.61% increase compared to the previous year [1] - The revenue growth was primarily driven by a recovery in the supply chain business, which generated HKD 575.9 million in revenue, up from HKD 298.3 million in the previous year, indicating improved business performance and market conditions [1]

Core Viewpoint - Several listed companies are increasingly engaging in financial investments using their own funds, aiming to enhance capital efficiency and maximize returns for the company and its shareholders [1][2]. Group 1: Investment Strategies - Companies are utilizing idle funds for various investments, including stock subscriptions, equity investments, and bond investments, as permitted by regulations [1]. - Some companies have successfully improved capital efficiency and generated additional income through prudent investments in relatively safe financial products [2]. - Conversely, there are companies that have suffered significant losses by prioritizing speculative trading over their core business, leading to a loss of competitive advantage [2]. Group 2: Considerations for Investment - Companies should assess whether their investment scale is manageable to avoid excessive risk, particularly if leveraging is involved [3]. - The quality of investment products should be prioritized, ensuring that the underlying assets are robust and align with the company's strategic goals [3]. - A transparent decision-making process, including timely information disclosure and a professional investment team, is essential to mitigate market concerns and prevent irrational investments [3]. Group 3: Regulatory Recommendations - Regulatory bodies should tighten controls on non-core investments by setting strict limits to prevent speculative financial activities from undermining core business operations [3]. - Increased scrutiny and accountability should be applied to companies that frequently engage in high-risk investments or exhibit significant losses [3]. - The fundamental strength of listed companies lies in their core business operations rather than speculative trading in the securities market [3].

Core Viewpoint - Two A-share companies announced plans to use their own funds for "securities investment" [2][3] Group 1: Company Announcements - Liao Group (002131) plans to use up to 3 billion RMB (or equivalent foreign currency) for securities investment, including new stock subscriptions, stock and depositary receipt investments, bond investments, and other recognized investment activities [3] - The investment will be funded by the company's own resources, ensuring no impact on normal operations or financial pressure [3] - Heshun Petroleum (603353) intends to use up to 200 million RMB of idle self-owned funds for securities investment, with the ability to recycle the funds within the effective period [3][4] Group 2: Investment Strategy and Goals - Both companies emphasize the importance of ensuring fund safety and meeting daily operational needs while adhering to risk control measures [4] - The investments aim to optimize investment structure and improve fund utilization efficiency, ultimately seeking to generate higher returns for the companies and their shareholders [4]

Core Viewpoint - Two A-share companies announced plans to use their own funds for "securities investment," indicating a trend of companies seeking to optimize their investment strategies and enhance capital efficiency [2][5]. Group 1: Company Announcements - Liao Co., Ltd. (利欧股份) plans to use up to 3 billion RMB (or equivalent foreign currency) of its own funds for securities investment, approved in a board meeting on August 8, 2025 [2][5]. - Heshun Petroleum (和顺石油) intends to use no more than 200 million RMB of idle self-owned funds for securities investment, with the amount being available for rolling use within a specified period [5][8]. Group 2: Investment Methods - Investment methods for both companies include new share placements or subscriptions, stock and depositary receipt investments, bond investments, entrusted financial management, and other investment activities recognized by the Shenzhen Stock Exchange [5][8]. - Heshun Petroleum emphasizes that its investment will not affect the normal operation of its main business and will follow strict risk control measures [8]. Group 3: Financial Impact - Liao Co., Ltd. asserts that the use of its own funds for securities investment will not create financial pressure or impact its normal operations and investments [5]. - Heshun Petroleum aims to optimize its investment structure and improve capital utilization efficiency to generate more returns for the company and its shareholders [8].

Core Insights - Liou Co. and Heshun Petroleum both announced securities investment plans on August 8, with a combined investment of up to 3.2 billion yuan [1][3] Group 1: Liou Co. Investment Plan - Liou Co. approved a plan to use up to 3 billion yuan of its own funds for securities investment, including new stock subscriptions, stock and depositary receipt investments, bond investments, and entrusted financial management [3] - The authorization is valid for 12 months starting from August 8, and does not require shareholder meeting approval [3] - The company aims to enhance capital efficiency and returns while controlling risks and maintaining normal operations [3] - Risk management measures include diversifying investments and controlling scale [3] Group 2: Heshun Petroleum Investment Plan - Heshun Petroleum plans to use up to 200 million yuan of idle funds for securities investment, with the investment types similar to those of Liou Co. [3] - The investment amount can be recycled within the validity period, aiming to optimize investment structure and create greater economic benefits [3] - The company acknowledges the uncertainties in investment returns due to multiple market factors and highlights potential liquidity and operational risks [3] Group 3: Market Context - Many listed companies typically invest idle funds in low-risk financial products, but the decisions by Liou Co. and Heshun Petroleum to invest in the securities market indicate a positive outlook on the current capital market [3] - Market participants emphasize the importance of risk control in securities investments, suggesting that companies should align their strategies with financial conditions to ensure stability and long-term growth [4]

Core Viewpoint - Bid International Holdings (01949) announced the sale of certain listed securities on the Hong Kong Stock Exchange, including 159,000 shares of CLP Holdings (00002) and 1,292,000 shares of Hong Kong and China Gas (00003) on August 8, 2025 [1] Group 1 - The company maintains a certain level of surplus funds during its operational period to meet operational needs [1] - To maximize returns on surplus funds and for inventory purposes, the company invests in highly liquid and low-volatility listed securities, allowing for immediate liquidation when necessary [1] - The company is actively seeking investment opportunities with potential value to provide stable returns and long-term capital gains for the group [1]