Innovent Bio (01801) reported that its first-half product revenue surpassed RMB 8.2 billion, reflecting a year-on-year increase of more than 55%.
Major Developments
SEYOND (02665) has signed a strategic cooperation memorandum of understanding with PlusAI for intelligent freight, intelligent driving, and physical AI. Basic Semiconductor (09971) has reached a strategic partnership with HEMEN Technologies. Hung Kee Group (02535) received a full takeover offer at a discount of approximately 82.35%, with trading set to resume on August 5. Deson Group (00368) saw a change in controlling stake, with a full takeover offer at a discount of about 79.17%, and trading will resume on August 5. Sino Biopharmaceutical (01177) announced that the new drug application for TQB3909 tablets (a BCL-2 inhibitor) has been accepted. CSPC Pharmaceutical Group (01093) reported that the new drug application for Annetamab (KN026) combined with albumin-bound paclitaxel injection (HB1801) for neoadjuvant therapy has been accepted by the National Medical Products Administration (NMPA). 3D Medicines-B (09966) announced that the NMPA has accepted its new drug application for Annetamab (KN026) as a neoadjuvant therapy for HER2-positive breast cancer. Hengrui Medicine (01276) has received clinical trial approval notices for SHR-A2009 and Adebrelimab injection. Vigorous Lifestyle-B (09887) announced that its partner OBLENIO has completed the first patient dosing in the Phase IA clinical trial of LBL-051 for refractory autoimmune diseases. China Hongguang (08646) reported that Guangdong Longguang has completed the corporate standard filing for the manufacturing process of TGV glass-based copper-clad laminates. Sky Engine Holdings (01520) has signed a cooperation memorandum of understanding with a Saudi royal family art institution to expand its global art IP business.
Share Buybacks / Changes in Holdings
CCTC (06951) spent RMB 143 million on August 4 to repurchase 1.249 million A-shares. Midea Group (00300) spent RMB 60.34 million on August 4 to repurchase 709,600 A-shares. COSCO Shipping Holdings (01919) spent RMB 23.09 million on August 4 to repurchase 1.4999 million A-shares. Huaqin Technology (03296) spent RMB 19.99 million on August 4 to repurchase 263,400 A-shares. Conch Cement (00914) spent RMB 16.94 million on August 4 to repurchase 950,000 A-shares.
Operational Results
Innovent Bio (01801) reported first-half product revenue exceeding RMB 8.2 billion, a year-on-year increase of over 55%. Techtronic Industries (00669) released its interim results, posting a net profit attributable to shareholders of USD 738 million, an increase of 17.52% year-on-year. Skyworth Group (00751) issued a profit alert, expecting interim net profit after tax to increase by no less than 170% year-on-year. Wanguo Gold Group (03939) issued a profit alert, anticipating interim net profit attributable to shareholders of between RMB 880 million and RMB 920 million, a year-on-year increase of approximately 46.4% to 53.1%. ZIULU (02420) issued a profit alert, forecasting interim net profit of approximately RMB 130 million to RMB 150 million, a year-on-year increase of roughly 23% to 42%. GAC Group (02238) reported vehicle sales of approximately 112,900 units in July, a decline of 5.48% year-on-year. Country Garden Holdings (02007) reported contracted sales attributable to the company's shareholders of approximately RMB 2.26 billion in July. China Railway Construction (01186) recorded new contracts worth RMB 878.158 billion in the first half, a decrease of 16.85% year-on-year.
Risk Warning
The Hong Kong Securities and Futures Commission (SFC) has noted that the shareholding of Desun Services (02270) is highly concentrated. Desun Services (02270) responded to the SFC's warning, stating that the company has maintained sufficient public float.
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