【Market Overview】 The market showed signs of vitality today, unlike the sluggish performance in recent days, with both mainland and Hong Kong markets advancing steadily. The Hang Seng Index closed up 0.75%.
The Bank of Japan raised interest rates by 25 basis points to 0.75% this morning (19th), marking a three-decade high. While initial concerns lingered, the move is now seen as "bad news priced in," with optimism prevailing for the future. Market expectations suggest the BoJ may hike again as early as June or July 2026, or possibly October. Meanwhile, softer U.S. core CPI data for November—the lowest since early 2021—has reignited rate-cut expectations for next year.
In the financial sector, CICC (03908) announced a semi-annual A-share dividend of RMB 0.09 per share (tax-inclusive), totaling RMB 434 million. The H-shares surged over 4% today.
【Autonomous Driving】 Commercialization efforts in autonomous driving are accelerating. Two leading Chinese autonomous freight companies, Jiushi Intelligent and Cainiao, are in talks for deeper integration to strengthen their dominance in urban logistics and expand globally. Both specialize in L4 autonomous technology.
Mainline Technology, an L4 autonomous truck solutions provider backed by investors like iFlytek Ventures and NIO Capital, has filed for a Hong Kong IPO. The Hang Seng Index Company also launched the "Hang Seng Stock Connect Electronic Theme Index," featuring industry leaders like MINIEYE (02431), which surged 31% today on its commercialized L4 logistics vehicles. XPeng-W (09868) secured an L3 autonomous test license in Guangzhou, aiming for L4-capable mass production by 2026. Other gainers included Zhejiang Shibao (01057) and Nexteer (01316), up over 10%, and Joyson Elec (00699), rising 5%.
【Hainan Free Trade Port】 The island-wide customs closure of Hainan Free Trade Port commenced on 18th December, marking a milestone in China’s openness. Stocks like China Tourism Group Duty Free (01880) rallied nearly 7%, buoyed by policy tailwinds. The cosmetics sector also benefited, with Mao Geping (01318) gaining 4% after establishing a Hainan subsidiary.
【Robotics & AI】 Sentime (00020)-affiliated DX Robotics unveiled its open-source Kairos 3.0 world model and embodied AI module A1, positioning it at the forefront of commercialization. Galaxy General Robotics raised over $300 million, valuing it at $3 billion, as it pioneers humanoid robot deployments. UBTech Robotics (09880) and Sanhua (02050) both rose nearly 5%.
【Corporate Highlights】 CIMC (02039) plans additional H-share buybacks worth HKD 300 million, alongside new shipbuilding orders. The stock jumped 15%. Man Wah Holdings (01999) acquired U.S. furniture maker Gainline Recline for $32 million, leveraging its distribution network, lifting shares 6%.
【Sector Spotlight: CXO】 The U.S. Senate passed the revised Biosecurity Act under the 2026 NDAA, exempting existing contracts and focusing on federal procurement (5% of the market). This benefits CXO leaders like Wuxi Biologics (02269), Pharmaron (03759), and Asymchem (06821).
【Stock Pick: Leapmotor (09863)】 Leapmotor’s Lafa5, priced at RMB 97,800–121,800, began deliveries. Q3 revenue soared 97.3% YoY to RMB 19.45 billion, with net profit hitting RMB 150 million and gross margin at 14.5%. The model features LEAP 3.5 architecture, Qualcomm 8295 chip, and up to 605km CLTC range. Global expansion continues, with overseas sales outlets exceeding 700.
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