Zhitong Hong Kong stocks early knowledge | Overnight US stocks all fell, China National Energy Group will promote its listed companies to implement market value management

[Today's Headlines]

China Energy Group: This year will promote the implementation of market value management by its listed companies to enhance market recognition and value realization

On January 16, Huang Qing, spokesperson for China Energy Group, stated at the group's 2025 work meeting that in 2025, efforts will be accelerated to promote the reform of investment companies, actively drive the high-quality development of the capital market, and implement market value management for its listed companies to enhance market recognition and value realization. Huang Qing emphasized that this year will adhere to deep reforms and invigorate capabilities, focusing on improving the ability to manage and develop enterprises. Key tasks will be prioritized, a mechanism for coordinated reform promotion will be established, and efforts will be made to fully release the effectiveness of reforms, resulting in a number of landmark reform achievements. The deepening and enhancement actions of state-owned enterprise reform will be promoted in an integrated manner, refining and deepening the "Science and Technology Reform" and "Double Hundred" actions, and cultivating more reform samples. The modernization of corporate governance will be accelerated, fully implementing the two "consistent principles," launching a new round of standardized charter actions, deeply implementing the upgrade actions for subsidiary board construction, and deepening the reform of the "three systems."

Zhitong Finance APP Note: The main listed companies under China Energy Group involved in Hong Kong stocks include China Shenhua (01088) and Longyuan Power (00916).

[Market Outlook]

Overnight U.S. stocks all fell, most popular Chinese concept stocks rose

Overnight, U.S. stocks closed lower, with the Dow Jones Industrial Average down 0.16% at 43,153.13 points; the S&P 500 index down 0.21% at 5,937.34 points; and the Nasdaq index down 0.89% at 19,338.29 points. Most large technology stocks fell, with Apple down over 4% and Tesla down over 3%. TSMC rose over 4%, with the company's Q4 net profit increasing by 57% year-on-year. Most popular Chinese concept stocks rose, with Douyu up over 27%, as the company's board approved a special cash dividend of $9.94 per share to shareholders; XPeng rose over 6%, and Kingsoft Cloud rose over 3%. The Hang Seng Index ADR fell, closing at 19,477.69, down 45.20 points or 0.23% compared to the Hong Kong closing.

[Hot Topics Ahead]

Ministry of Commerce spokesperson responds to reporters regarding the impact of low-priced imports of mature process chips from the U.S. on the domestic chip industry

The domestic chip industry has reflected that for some time, the Biden administration has provided substantial subsidies to the chip industry, giving U.S. companies an unfair competitive advantage, and exporting related mature process chip products to China at low prices, harming the legitimate rights and interests of the domestic industry. Concerns from the domestic industry are normal and have the right to apply for trade remedy investigations. I want to emphasize that for the applications and appeals from the domestic industry, the investigating authorities will review them in accordance with China's relevant laws and regulations and follow WTO rules, and will initiate investigations according to the law.

CSI Shanghai-Shenzhen-Hong Kong Biotechnology Theme Index and CSI Shanghai-Shenzhen-Hong Kong Chip Industry Index to be released

China Securities Index Co., Ltd. will officially release the CSI Shanghai-Shenzhen-Hong Kong Biotechnology Theme Index and the CSI Shanghai-Shenzhen-Hong Kong Chip Industry Index on January 17, 2025, providing the market with richer investment targets.

Hong Kong Securities and Futures Commission to extend rapid licensing procedures to new applicants for virtual asset trading platform licenses According to the Zhitong Finance APP, on January 16, the Hong Kong Securities and Futures Commission announced that all new applicants for virtual asset trading platform licenses can apply for licenses under the rapid licensing procedure of the Hong Kong Securities and Futures Commission. The new licensing method requires applicants for virtual asset trading platforms to first establish internal policies, procedures, systems, and monitoring measures, and then conduct external evaluations of these measures. The Hong Kong Securities and Futures Commission will become a participant in the agreement to supervise the entire external evaluation process.

Counterpoint Research: After two years of stagnation, global smartphone sales are expected to grow by 4% year-on-year in 2024

According to preliminary data from Counterpoint Research's monthly smartphone sales report, the global smartphone market is expected to return to growth in 2024 after two consecutive years of decline. Global smartphone sales are projected to increase by 4% year-on-year in 2024, thanks to a rebound in consumer confidence following improvements in the macro economy. Previously, in 2023, smartphone sales had hit a ten-year low.

December 2024 China Non-Gaming Companies Overseas Revenue Rankings Announced: ByteDance and Meitu Ranked First and Second

On January 16, the internet mobile application big data platform Diandian Data released the December 2024 overseas revenue rankings for Chinese non-gaming companies. The list shows that ByteDance and Meitu took the top two spots. In recent years, Chinese technology companies have deepened their global market layout, gradually demonstrating international competitiveness in various fields such as technology, content, and business models. Driven by generative AI, several internet companies are continuously enhancing overseas user engagement and payment potential through new products that delve into specific scenarios.

Alipay Experiences Major Incident: All Orders Discounted by 20% for Five Minutes

On January 16, 2025, multiple Alipay users posted screenshots of their order payment pages on social media, claiming that during the period from 14:40 to 14:45, when they made personal transfers, credit card payments, and bill payments through Alipay, they were prompted with "government subsidy," receiving a 20% discount on their orders. Ant Group confirmed this fact. In the early hours of January 17, Alipay responded by stating: Yesterday afternoon, due to an error on our part, a small number of users enjoyed a discount when making payments, and some users shared this screenshot, expressing concern about whether we would recover the discount. Several facts need to be clarified: 1. Alipay has not sent any messages regarding fund recovery; if you receive the message in the screenshot below, do not click on it to avoid being scammed, and please help spread the word. 2. How did the error occur? It was due to a misconfiguration of the marketing template in the backend of a routine marketing activity in Alipay, where both the discount amount and type were incorrectly written. 3. Since it was our mistake, we must bear the costs and responsibilities ourselves. For the marketing discounts that have already been issued, Alipay will not pursue repayment from users, so please rest assured.

Sri Lanka Claims Sinopec Will Invest $3.7 Billion to Build Advanced Refinery, the Largest Foreign Direct Investment in the Country's History

On January 16, the Sri Lankan Presidential Office issued a statement saying that on the morning of that day, the Sri Lankan Ministry of Energy signed a $3.7 billion investment agreement with China Petroleum & Chemical Corporation, marking the largest foreign direct investment in the country's history According to the agreement, Sinopec will build an advanced refinery in Hambantota, Sri Lanka, with a daily capacity of 200,000 barrels, most of which is planned for export. The statement said this substantial investment is expected to promote economic growth in Sri Lanka while improving the livelihoods of low-income communities in the Hambantota area.

Air China plans to operate over 70,000 passenger flights during the Spring Festival travel season, an increase of nearly 10%

On the 16th, Air China held a press conference in Beijing for the 2025 Spring Festival travel season. It was mentioned that during this year's Spring Festival travel season, Air China plans to operate over 70,000 passenger flights, an increase of more than 6,000 flights year-on-year, with an increase of nearly 10%, averaging about 1,750 flights per day, an increase of over 150 flights year-on-year.

Joyson Electronics officially submits IPO application for Hong Kong stock market

On January 16, Joyson Electronics officially submitted its application for listing on the Hong Kong stock market. The funds raised are intended for the research and commercialization of next-generation automotive intelligent solutions, enhancing production capacity, optimizing supply chain management, and expanding overseas business development and investment mergers and acquisitions, thereby enhancing the company's competitive position in the intelligent automotive technology industry.

Report: The largest shareholder of Xiaohongshu is negotiating to sell shares, with a valuation of at least $20 billion

The largest shareholder of Xiaohongshu is negotiating to sell shares of the company, with a valuation of at least $20 billion. It is reported that Tencent and other large companies have expressed interest in this transaction. According to insiders, GGV Capital, GSR Ventures, and Tiantu Capital are negotiating to sell part of their shares in Xiaohongshu, and interested funds include existing shareholders Sequoia Capital and Hillhouse Capital. An insider added that Tencent is also considering whether to purchase more shares. However, the aforementioned insider stated that the transaction has not been completed, as existing shareholders have the right of first refusal, and if potential buyers decide to temporarily shelve the deal, negotiations may still fail.

After 246 rounds of bidding, China Overseas Land & Investment won a residential land in Longgang, Shenzhen for 3.065 billion yuan

Shenzhen welcomed its first residential land transfer of 2025. The land being transferred is located at the northeast corner of the intersection of Longfei Avenue and Youth Road in Longgang District, covering an area of approximately 20,000 square meters, with a starting price of 1.799 billion yuan. The land attracted eight companies, including China Merchants, China Overseas, China Resources, Jianfa, Yuexiu, and Greentown, to participate in the bidding. After 246 rounds of bidding, the land was ultimately won by China Overseas (00688) for 3.065 billion yuan, with a transaction floor price of 29,611 yuan per square meter and a premium rate of 70.37%.

China Duty Free Group (01880) releases 2024 annual performance report, net profit of 4.263 billion yuan, a year-on-year decrease of 36.5%

According to Zhitong Finance APP, China Duty Free Group (01880) released its 2024 annual performance report, reporting total operating revenue of 56.492 billion yuan (same unit below), a year-on-year decrease of 16.36%; net profit attributable to shareholders of the listed company was 4.263 billion yuan, a year-on-year decrease of 36.5%; basic earnings per share were 2.0605 yuan.

CITIC Financial Assets (02799) expects net profit in 2024 to increase by 410% to 466% year-on-year According to the announcement from CITIC Financial Assets (02799), based on preliminary accounting data, the group's net profit attributable to the company's shareholders for the fiscal year 2024 is expected to be between RMB 9 billion and 10 billion, representing a year-on-year increase of 410% to 466%. (Fiscal year 2023: RMB 1.766 billion)

QuanFeng Holdings (02285) issues profit warning, expects to achieve a net profit of approximately USD 110 million to 120 million in 2024, turning losses into profits year-on-year

According to the announcement from QuanFeng Holdings (02285), the group expects to achieve a net profit of approximately USD 110 million to 120 million in 2024, compared to a net loss of approximately USD 37.2 million in 2023. The adjusted net profit (excluding non-recurring costs related to the repositioning of the group's Steinheim base in Germany) is expected to be approximately USD 135 million to 145 million.

【Stock Highlights】

Yuewen (00772): "Sweet Wife with Good Fortune Spoiled by Diamond Husband" generates over 20 million in revenue within 24 hours of launch

On January 15th, the short drama "Sweet Wife with Good Fortune Spoiled by Diamond Husband," produced by Yuewen, was launched. According to Yuewen, based on data from third-party platforms such as WETRUE and DataEye, the drama's revenue exceeded 20 million within 24 hours of its launch, with total views surpassing 150 million and cumulative video views on Douyin reaching approximately 800 million.

The General Administration of Radio and Television issued a notice on the implementation of the "Micro Short Drama +" action plan to empower various industries. The notice stated that by 2025, the administration will deeply organize and implement the "Travel with Micro Short Dramas" creation plan, continue to promote the "Learn the Law with Micro Short Dramas" and "See Brands in Micro Short Dramas" creation plans, and launch creation plans such as "Learn Classics with Micro Short Dramas," "Science Popularization with Micro Short Dramas," and "See Intangible Cultural Heritage in Micro Short Dramas," aiming to produce around 300 key micro short dramas with leading and innovative value in segmented fields, creating a batch of high-quality micro short dramas with profound thoughts, exquisite art, and excellent production.

CICC released a research report stating that since 2023, the domestic short drama industry has rapidly developed, becoming an important increment in advertising revenue for short video platforms, influencing the competitive landscape of online entertainment, and reflecting changes in current user preferences. At this point, as regulatory policies for the short drama industry gradually take effect, the growth logic of production, distribution, and consumption is expected to continue, making it difficult for the short drama industry structure to be disrupted by long video platforms, with attention on AI and new directions for overseas expansion.

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