Market Overview - The Hong Kong stock market opened lower, with the Hang Seng Index down 0.77% at 24,982.87 points, the Hang Seng Tech Index down 0.58% at 5,458.8 points, and the National Enterprises Index down 0.68% at 8,976.63 points [1] - Major tech stocks mostly declined, with Alibaba down 0.94%, Tencent down 0.36%, JD Group down 0.95%, Xiaomi down 0.82%, NetEase down 0.1%, Meituan down 3.06%, Kuaishou up 0.14%, and Bilibili down 0.84% [1] - The innovative drug concept stocks opened higher, with Lepu Biopharma rising over 5% [1] - Chinese brokerage stocks opened lower, with Everbright Securities down over 2% [1] - Gold stocks continued to retreat, with China Silver Group down over 3% [1] - Stablecoin concept stocks generally fell, with Jingwei TianDi down over 6% [1] Company News - Sinopec Oilfield Services (01033.HK) won a natural gas pipeline project with a bid amount of RMB 3.597 billion, accounting for approximately 4.44% of its 2024 revenue [2] - CSPC Pharmaceutical Group (01093.HK) entered into an exclusive licensing agreement with MADRIGAL for SYH2086, with potential total payments of up to USD 2.075 billion [2] - China Biologic Products (01177.HK) reported successful external licensing cooperation for LM-299, with a milestone payment of USD 300 million expected soon [3] - Spring Trust (01426.HK) reported an average rental rate of approximately 86% for its Huamao property in Q2 [4] - Sihuan Pharmaceutical (00460.HK) completed the first patient enrollment in a Phase III clinical trial for Annelaz sodium for gastroesophageal reflux disease [5] - Zhaoke Ophthalmology-B (06622.HK) received orphan drug designation from the FDA for Mephalan for treating retinoblastoma in children [6] - CATL (03750.HK) reported revenue of RMB 178.886 billion for the first half of the year, a year-on-year increase of 7.27%, and a net profit of RMB 30.512 billion, up 33.02% [6] - Hisense Home Appliances (00921.HK) reported total revenue of RMB 49.34 billion for the first half, a year-on-year increase of 1.44%, and a net profit of RMB 2.077 billion, up 3.01% [6] - New Oriental-S (09901.HK) projected net revenue of USD 4.9 billion for FY2025, a year-on-year increase of 13.6%, and a net profit of USD 372 million, up 20.1% [6] - Weisheng Holdings (03393.HK) reported revenue of RMB 1.368 billion for the first half, a year-on-year increase of 11.88%, and a net profit of RMB 305 million, up 12.24% [6] - Yingda Real Estate (00432.HK) reported total revenue of HKD 736 million for the first half, a year-on-year increase of 35%, but a net loss of approximately HKD 249 million, widening by 62.75% [6] Earnings Forecasts - Saint Bella (02508.HK) announced a profit alert, expecting a net profit of over RMB 320 million for the first half, turning from loss to profit [7] - Aoneng Construction (01183.HK) issued a profit alert, expecting a net profit increase of over 125% to no less than MOP 18 million for the first half [8] - Da Cheng Corn Group (03889.HK) issued a profit warning, expecting a net loss of approximately HKD 65 million to 85 million for the first half, turning from profit to loss [9] Institutional Insights - Everbright Securities noted that the overall profitability of the Hong Kong stock market is relatively strong, with scarce assets in internet, new consumption, and innovative drugs, suggesting long-term investment opportunities [10] - CITIC Securities highlighted the strong innovation in Hong Kong medical device companies, with many approaching profitability or rapid performance release, and recommended focusing on investment opportunities in the medical device sector [11] - Zhongyin International reported on the recent press conference regarding the "14th Five-Year Plan" and the optimization of medical insurance collection rules, indicating potential improvements in the pharmaceutical industry's profitability [11] - CITIC Securities also discussed the dairy industry's current low prices and the potential for stabilization and recovery in milk prices, suggesting investment opportunities in the dairy sector [12]