WuXi AppTec announced on August 9 that a U.S. federal court has ruled in favor of its preliminary injunction motion, blocking the Department of Defense from enforcing a 1260H list designation. The company strongly contested the erroneous listing and filed a legal challenge on June 11, followed by a motion for a preliminary injunction on June 29. After a hearing on July 22, the court ruled on August 7 to grant the injunction, protecting WuXi AppTec from immediate adverse effects during the litigation process. The decision removes the risk of panic-driven contract cancellations from overseas clients and suppliers, stabilizes international business collaboration, and eliminates a major geopolitical uncertainty for the company, serving as a critical catalyst for valuation recovery.
Overnight, U.S. stocks closed higher, with the Dow Jones Industrial Average rising 0.28% to 54,036.93 points, the S&P 500 gaining 0.62% to 7,757.64 points (a record close), and the Nasdaq Composite surging 1.30% to 26,690.62 points. For the week, the Dow rose 2.96%, the Nasdaq added 5.19%, and the S&P 500 climbed 3.58%. The U.S. optical communications sector rallied, with Coherent jumping over 13%, Applied Optoelectronics up more than 9%, and Credo gaining over 8%. Space-themed stocks also advanced, led by SpaceX surging over 15% and Redwire up more than 14%. In contrast, storage stocks declined, with Seagate Technology falling over 4%, and Western Digital, SanDisk, and SK Hynix all dropping over 3%. The Nasdaq Golden Dragon China Index rose 0.77%, with most Chinese ADRs gaining, including Zai Lab up over 11% and Hesai advancing more than 8%. Hang Seng Index ADRs rose 0.64%, equivalent to 25,831.08 points. WTI crude oil futures edged down 0.27% to $77.08 per barrel, while COMEX gold futures surged 2.37% to $4,401.3 per ounce.
President Donald Trump convened a meeting on August 7 with executives from major global mining companies, including Rio Tinto Ltd, BHP Group Ltd, Freeport-McMoRan, MP Materials, USA Rare Earth, Energy Fuels Inc., and Canada Metals, to discuss securing critical mineral supplies for the U.S. and its allies. The administration aims to address shortages of rare earths, tungsten, germanium, and scandium, which are essential for producing precision-guided missiles, fighter jets, and armored vehicles, amid depleted weapons stockpiles from the Iran conflict. The meeting is expected to announce multiple transactions and memorandums of understanding.
SK hynix approved a massive expansion plan on Friday, investing approximately 54.35 trillion won (about $38.297 billion) to build new fabs in Yongin and Cheongju. The board authorized 35.2 trillion won for the "Y2" facility in Yongin's semiconductor park by October 2031 and 19.1 trillion won for the "M17" plant in Cheongju by April 2031, aiming to meet soaring memory demand in the AI era.
Beijing's housing authority announced a policy adjustment, reducing the social insurance or individual income tax payment requirement for non-registered families to purchase a home from two years to one year, effective August 8. Under the new rule, non-Beijing residents with at least one year of tax or social insurance contributions can buy one home within the Fifth Ring Road, with multi-child families eligible for an additional property. Outside the Fifth Ring Road, there is no limit on the number of homes purchased.
GUOTAI JUNAN I announced a privatization plan, with GTHT offering HK$3 per share (a 44.2% premium) to acquire all remaining shares via a scheme of arrangement, after which the company will be delisted. The move aims to enhance management efficiency and integrate overseas resources to accelerate the group's international strategy. Trading resumes on August 10.
PATEO plans to acquire 70% of the issued shares of Chengdu Mingyi Electronic Technology for up to 1.4 billion yuan. The target company is a fabless integrated circuit design firm specializing in high-speed optoelectronic chips and high-performance analog chips, which are key components for AI data center optical modules and a critical area for domestic substitution.
LUZHU BIOTECH-B published results from its Phase III clinical trial for LZ901 in Nature Communications, evaluating the vaccine's efficacy and safety in preventing shingles in adults aged 40 and above, through a multicenter, randomized, double-blind, placebo-controlled study in China.
LINGBAO GOLD reported a major exploration breakthrough at its Habahe Huatai project in Xinjiang, with reserves surging from 13.20 tons at the end of 2025 to 53.94 tons as of June 30, 2026.
CHIFENG GOLD entered into an independent contractor agreement for open-pit mining services, including ore extraction and waste removal, for its Laos operations. The contract has a total value of $220 million (approximately 1.501 billion yuan), excluding VAT, over six years. The company also announced that its subsidiary, Chijin Xiawu, has decided to suspend operations at the Mengkang rare earth project, pending policy changes.
SBP GROUP announced that its new drug combination, benmelstobart with chemotherapy followed by anlotinib, has received approval in China for first-line treatment of squamous non-small cell lung cancer. This marks the 12th approved indication for anlotinib and the 6th for benmelstobart.
ZENERGY issued a profit alert, expecting a net profit of approximately 320 million to 400 million yuan for the first half of 2026, representing a year-on-year increase of about 45.5% to 81.8%. The growth is driven by significantly higher shipments of both power batteries and energy storage products.
FIH Mobile reported a 50.95% increase in profit attributable to shareholders for the interim period, reaching $9.306 million. Revenue grew notably due to a new smart manufacturing client and steady development in automotive and smart manufacturing businesses, despite a competitive environment.
Guanghe Technology posted a 94.39% surge in net profit attributable to shareholders for the first half, totaling 956 million yuan. The company is advancing a technical upgrade at its Guangzhou plant, expected to release new capacity in the second half, and its Thailand factory construction is on track to add capacity in Q4 2026.
Tianrun Cloud forecast a net profit growth of approximately 50% to 80% for the first half of 2026, attributing the increase to over 100% revenue growth in its AI-related customer service product portfolio.
Tongguan Gold expects a profit attributable to shareholders of approximately HK$510 million to HK$530 million for the first half of 2026, representing a year-on-year increase of about 49% to 55%. The figure includes a one-time income tax expense of around HK$95 million related to a subsidiary's tax adjustment. Excluding this item, adjusted profit is expected to be HK$605 million to HK$625 million, up 76% to 82% from the prior year, driven by higher average selling prices.
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