Global nitrogen fertilizer exporter Fertiglobe indicated that nitrogen fertilizer prices have surged to nearly double pre-Iran conflict levels and could rise further as key supplies remain blocked in the Persian Gulf region. "Current prices are already quite 'high,' but if this situation persists, prices could increase further," stated Fertiglobe CEO Ahmed El-Hoshy in an interview. "This presents a very severe challenge to farmers' economic conditions and could ultimately lead to higher grain and food prices." El-Hoshy noted that according to Fertiglobe's research data, urea exports from the Gulf region plummeted to approximately 300,000 tonnes in March, compared to a typical monthly export volume of 1.7 million tonnes. He mentioned these exports primarily originate from Oman. The nitrogen fertilizer industry chain involves Hong Kong-listed stocks including SINOFERT (00297), CHINA BLUECHEM (03983), and CHINA XLX FERT (01866).
Overnight, the Nasdaq Golden Dragon China Index declined by 0.32%. The Dow Jones Industrial Average fell 4.87 points to close at 49,442.56, a drop of 0.01%. The S&P 500 index decreased by 16.92 points to 7,109.14, down 0.24%. The Nasdaq Composite Index dropped 64.09 points to 24,404.14, a decline of 0.26%. Most major tech stocks fell, with Intel down over 4%, and Tesla and Meta each down over 2%. Rare earth concepts, hydrogen energy, and crypto reserve concepts led the gains; Plug Power surged over 15%, Hut 8 rose over 5%, while Coinbase and Strategy gained over 2%. Most popular China concept stocks declined. The Hang Seng Index ADRs rose proportionally, closing at 26,501.02 points, up 139.95 points or 0.53% compared to the Hong Kong market close. NYMEX WTI crude oil futures for the front month rose by $3.30 to settle at $85.89 per barrel, a gain of 4.00%. COMEX gold futures for the front month fell $38.60, or 0.79%, to $1,841.0 per ounce.
CHINA MOBILE (00941) reported a first-quarter net profit of 29.3 billion yuan, a year-on-year decrease of 4.2%. Revenue for the quarter was 266.5 billion yuan, a slight increase of 1.0% compared to the same period last year.
CATL (03750) announced that on April 17, 2026, a shareholder holding more than 5% of the company, Ningbo United Innovation New Energy Investment Management Partnership, planned to transfer 58 million of its A-shares, representing 1.27% of the company's total share capital, via a block transfer at an inquiry price. Based on the inquiry subscription results on April 20, 2026, the preliminary transfer price was set at 410.34 yuan per share. This transfer is not conducted through centralized bidding or block trades and does not constitute a secondary market reduction. The transferees are restricted from selling the shares acquired through this inquiry transfer for six months after the acquisition.
Three Chinese government departments have issued a joint notice to strengthen the management of medications including pregabalin oral single-ingredient preparations and certain cough preparations, aiming to prevent these drugs from flowing into illegal channels and being abused. Pregabalin involves Hong Kong-listed companies such as SH PHARMA (02607), SHANDONG XINHUA (00719), and CSPC PHARMA (01093).
TIANQI LITHIUM (09696) issued a positive profit alert, expecting first-quarter attributable net profit to be approximately between 1.7 billion yuan and 2.0 billion yuan, representing a year-on-year increase of about 1530.31% to 1818.01% compared to 104 million yuan in the same period last year. Profit after deducting non-recurring gains or losses is expected to be between 1.6 billion yuan and 1.96 billion yuan, a significant increase from 44.43 million yuan last year. Basic earnings per share are anticipated to be between 1.01 yuan and 1.19 yuan, compared to 0.06 yuan per share a year earlier.
Victory Giant Technology (02476) saw its grey market price close over 58% higher at 333 HKD compared to its IPO price of 209.88 HKD. The company is scheduled to list in Hong Kong on April 21. Based on the grey market closing price, a lot of 100 shares would yield a profit of 12,312 HKD before fees.
HANS CNC (03200) reported first-quarter revenue of 1.955 billion yuan, a year-on-year increase of 103.69%. Net profit attributable to shareholders was 323 million yuan, up 176.53% year-on-year. Basic earnings per share were 0.73 yuan.
XUANZHUBIO-B (02575) announced that preliminary data from the Phase 1b FORTRESS clinical study for NG-350A were presented at the 2026 American Association for Cancer Research (AACR) Annual Meeting on April 20, 2026. NG-350A is an oncolytic immunotherapy drug for the treatment of mismatch repair proficient (pMMR) locally advanced rectal cancer (LARC), licensed by the group from Akamis Bio, Inc., a clinical-stage oncology company focused on advancing the standard of care for colorectal cancer.
WASION HOLDINGS (03393) proposed to issue up to 50 million new shares via a top-up placement at a price of 30.00 HKD per share, a discount of approximately 6.07% to the last traded closing price of 31.94 HKD. The net proceeds are estimated to be approximately 1.474 billion HKD.
GCL NEWENERGY (00451) plans to place up to 127 million placement shares at 1.05 HKD per share, aiming to raise net proceeds of approximately 131 million HKD.
BAIRONG-W (06608) entered into a warrant placement agreement to place up to 37,393,500 non-listed transferable warrants. Each warrant carries the right to subscribe for one new Class B share at an initial exercise price of 8.70 HKD per warrant share.
CSPC PHARMA (01093) announced that the Ib/III phase clinical study for its self-developed Sirolimus for Injection (Albumin-bound) (HB1901), for the treatment of advanced malignant perivascular epithelioid cell tumor (PEComa), successfully met the pre-specified primary efficacy endpoint. The results showed significant statistical differences and clear clinical benefits. HB1901 demonstrated excellent efficacy and is expected to fill a treatment gap for this indication in China, potentially becoming the first standard treatment for advanced malignant PEComa in the country.
NANHUA FUTURES (02691) reported a first-quarter net profit of 205 million yuan, a significant increase of 138.82% year-on-year. Revenue for the quarter was 430 million yuan, up 60% compared to the same period last year. The company attributed the strong performance to active investment in the futures market, increased client equity, and growth in client trading volume.
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