Core Insights - The report highlights an increase in expectations for interest rate cuts in the US, driven by soft labor data and inflation figures that align with forecasts [1][8][12] - A significant trade agreement between the US and Taiwan is anticipated, which could impact market dynamics positively [8][12] Market Performance - A-shares experienced a strong rally, with the Shanghai Composite Index rising by 1.65% to 3875.31 points, and the ChiNext Index increasing by 5.15% [1] - The Hong Kong market showed mixed results, with the Hang Seng Index closing down 0.43% at 26086.32 points, while the Hang Seng Tech Index fell by 0.24% [1][5] - European and US markets saw gains, with the Dow Jones up 1.36% and the S&P 500 rising by 0.85%, both reaching historical highs [1][12] Economic Indicators - The US core CPI rose by 0.3% in August, meeting expectations, while the overall CPI increased by 0.4%, marking the largest rise since the beginning of the year [12] - Initial jobless claims in the US surged to nearly a four-year high, indicating potential increases in layoffs [12][16] - The European Central Bank maintained interest rates, signaling a balanced economic growth outlook and controlled inflation [12] Company-Specific Developments - UBS raised the target price for Dongfeng Motor Group by 102% to HKD 10.5, citing potential privatization and stock distribution of its Voyah brand [10] - Hesai Technology plans to go public in Hong Kong with a share price set at HKD 212.8, aiming to raise over HKD 36 billion [10] - Jingfang Pharmaceutical is set to launch an IPO with a share price of HKD 20.39, targeting a total fundraising of approximately HKD 15.82 billion [10] Industry Trends - China General Nuclear Power's electricity generation in August fell by 5.7% year-on-year, with mixed performance across its various energy projects [13] - Huatai Securities successfully issued a secondary bond worth RMB 2 billion, indicating strong investor interest [13] - GIC increased its stake in Haitian Flavoring and Food Company to 11.07%, reflecting confidence in the company's growth prospects [13]

中金公司、国泰君安及招银国际为联席保荐人。公司拟将所得款项净额中，约50%用作研发投资；约 35%用作投资集团的生产能力；约5%用作业务发展；及约10%用作营运资金及一般企业用途。 在美国上市的激光雷达(LiDAR)制造商禾赛-W(2525.HK)今日起至周四(9月11日)招股，发售1700万股B 类普通股，香港公开发售占10%，其余为国际配售，每股招股价将不超过228港元，集资最多38.76亿港 元。一手20股，入场费4605.99港元。该股预期9月16日挂牌。 责任编辑：栎树 ...

该行表示，舜宇光学2025年上半年业绩超出预期，主要受智能手机毛利率强劲復甦，以及电动车和 XR(扩展现实)领域持续增长推动。公司对2025年全年积极指引显示，其在高端手机镜头(HLS)及手机摄 像模组(HCM)的市场份额持续提升，同时在车载镜头(VLS)和激光雷达(LiDAR)领域保持领先地位。管 理层认为，凭借公司在相关领域的领先地位，将长期受益于XR、物联网及机器人业务的发展。 中银国际发布研报称，维持舜宇光学科技(02382)"买入"评级，基于24倍2026年预测市盈率(相当于1倍市 盈增长率)，将12个月目标价从90港元上调至100港元。该行将舜宇2025年及2026年每股盈利预测分别上 调7%及1%，以反映智能手机和电动车产品组合的改善。 ...

Core Viewpoint - Zhongyin International maintains a "Buy" rating for Sunny Optical Technology (02382), raising the 12-month target price from HKD 90 to HKD 100 based on a 24x projected P/E ratio for 2026, reflecting a 1x earnings growth rate [1] Financial Performance - Sunny Optical's earnings per share forecasts for 2025 and 2026 have been increased by 7% and 1% respectively, due to improvements in the smartphone and electric vehicle product mix [1] - The company's performance in the first half of 2025 exceeded expectations, driven by a strong recovery in smartphone gross margins and ongoing growth in the electric vehicle and XR (extended reality) sectors [1] Market Position and Outlook - The company continues to gain market share in high-end smartphone lenses (HLS) and smartphone camera modules (HCM), while maintaining a leading position in vehicle-mounted lenses (VLS) and LiDAR technology [1] - Management believes that the company's leadership in relevant fields will allow it to benefit long-term from developments in XR, the Internet of Things, and robotics [1]