SMIC (00981.HK) announced its consolidated operating results for the first quarter ended March 31, 2026. Revenue was US$2.51 billion, up 11.5% YoY. Gross profit was US$504 million, down 0.4% YoY, with a gross margin of 20.1% (vs the gross margin for the previous quarter of 19.2%, and the gross margin for the same period last year of 22.5%). Profit for the period attributable to owners of the Company increased by 5% YoY to US$197 million.
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ALI HEALTH (00241.HK) declared a total dividend of RMB19.47 cents per share, comprising a final dividend of RMB5.95 cents and a special dividend of RMB13.52 cents. As the Company had insufficient contributed surplus available for distribution to the Shareholders as at March 31, 2026, the Distribution by way of the Final Dividend and the Special Dividend is intended to be funded through reduction of certain amount standing to the credit of the Share Premium Account and crediting of such amount to the Contributed Surplus Account.

As at March 31, 2026, the amount standing to the credit of the Share Premium Account was approximately RMB51.687 billion and the amount of accumulated losses of the Company was approximately RMB1.178 billion. It is proposed that an amount of approximately RMB10 billion standing to the credit of the Share Premium Account be reduced, with the credits arising therefrom be credited to the Contributed Surplus Account, and to apply such amount standing to the credit of the Contributed Surplus Account, including offsetting accumulated loss of the Company or making distribution out of the Contributed Surplus Account to the Shareholders.
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SUNSHINE OIL (02012.HK) announced first-quarter results ended March 2026. The loss widened to HK$20.391 million from HK$9.716 million in the corresponding period of the previous year.
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ALI HEALTH (00241.HK) announced its full-year results for the year ended March 31, 2026. Revenue reached RMB34.255 billion, up 12% YoY. Net profit was RMB1.936 billion, up 35.2% YoY, with an EPS of RMB12.02 cents.

A total dividend of RMB19.47 cents was declared, including a final dividend of RMB5.95 cents and a special dividend of RMB13.52 cents.
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Overnight (13th), the three major US stock indices closed mixed, as the market shed light on progress from the Xi-Trump summit today (14th). The HSI opened up 448 points but pared gains during the session and once turned negative near the close. The HSI closed at 26,389, up less than 1 point, with total market turnover increasing to HKD306.702 billion. The HSCEI closed at 8,858, down 17 points or 0.2%, while the HSTECH closed at 5,076, down 17 points or 0.35%.

Dotcom bellwethers jumbled. After results, BABA-W (09988.HK) had its TPs raised by UBS and HSBC Global Investment Research. The stock once soared 8.4% and closed at HKD137.9, up 3.84%. TENCENT (00700.HK) softened post-results, closing at HKD460.2, down 0.52%. POP MART (09992.HK) had its TPs cut by Citi and CLSA, closing at HKD156.5, down 2.73%. JD-SW (09618.HK) closed at HKD130.1, up 1.48%. BIDU-SW (09888.HK) continued to invest in the comprehensive evolution of its Chip-Cloud-Model-Agent framework, with shares once swelling over 7% before closing at HKD140.9, up 2.47%.

The US reportedly approved sales of H200 chips to 10 Chinese companies including Alibaba and TENCENT. Ahead of results, SMIC (00981.HK) closed down 3.57% at HKD71.5. HUA HONG SEMI (01347.HK) closed at HKD127, down 2.16%.

Among stocks on move, despite a TP hike by CICC, JD LOGISTICS (02618.HK) fell to close at HKD15.14, down 5.7%, making it the worst-performing blue chip. SICC (02631.HK) extended its rally in recent days, closing at HKD128.7, up 18.29%. ZHAOJIN MINING (01818.HK) declined 10.41% to close at HKD25.3 after casualties were reported in an accident at one of its mining sites. NEW WORLD DEV (00017.HK) clarified that it had not reached any agreement with the Airport Authority regarding the 11 SKIES project; its shares closed at HKD8.95, down 4.28%.
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At close, HSI stayed still at 26,389. HSTI dropped 17 pts or 0.3% to 5,076. HSCEI fell 17 pts or 0.2% to 8,858. Market turnover reached $306.70 billion.

Active Heavyweights:
BABA (09988.HK) closed at $137.9, up 3.8%
MEITUAN (03690.HK) closed at $85.7, down 2.2%
TENCENT (00700.HK) closed at $460.2, down 0.5%
XIAOMI (01810.HK) closed at $31.72, down 0.3%

HSI & HSCEI Constituents on Move:
HORIZONROBOT-W (09660.HK) closed at $6.26, down 6.7%
JD LOGISTICS (02618.HK) closed at $15.14, down 5.7%
WUXI APPTEC (02359.HK) closed at $130.1, down 5.2%
LI AUTO (02015.HK) closed at $76.85, up 4.3%
ZIJIN MINING (02899.HK) closed at $37.22, down 4.1%
WUXI BIO (02269.HK) closed at $32.64, down 3.6%
SMIC (00981.HK) closed at $71.5, down 3.6%
CMOC (03993.HK) closed at $19.82, down 3.4%
OOIL (00316.HK) closed at $145, up 3.3%
MIDEA GROUP (00300.HK) closed at $90, up 3%
BANK OF CHINA (03988.HK) closed at $5.29, up 1.3%, hitting new high

HSMI & HSSI Constituents on Move:
PEGBIO CO-B (02565.HK) closed at $13.73, down 29.6%
SEYOND (02665.HK) closed at $8.49, up 17.9%
XXF (02473.HK) closed at $0.7, down 16.7%
DATANG POWER (00991.HK) closed at $3.02, down 14%
DALIPAL HLDG (01921.HK) closed at $3.34, down 11.9%
JIAXIN INTL RES (03858.HK) closed at $79.45, down 10.7%
QUNABOX GROUP (00917.HK) closed at $13.37, down 10.4%
ZHAOJIN MINING (01818.HK) closed at $25.3, down 10.4%
FIH (02038.HK) closed at $29.88, up 0.7%, hitting new high
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US stocks closed mixed overnight as US President Donald Trump began his visit to China, accompanied by several senior executives from technology companies. The HSI opened 448 pts higher today but saw its gains narrow, closing at 26,478 at midday, up 90 pts or 0.34%. Half-day turnover amounted to HKD181.231 billion. The HSTECH closed at 5,109, up 16 pts or 0.31%, while the HSCEI stood at 8,889, up 13 pts or 0.15%.

Dotcom bellwethers jumbled. BABA-W (09988.HK) spiked 5.05% to HKD139.5 at midday after reporting quarterly results, with brokers raising their TPs. TENCENT (00700.HK) edged down 0.09% to HKD462.2. Although Citi was positive on its AI strategy execution and core earnings growth, Daiwa lowered its TP to HKD700. POP MART (09992.HK) dived 4.1% to HKD154.3 after Citi and CLSA cut their TPs.

Spot gold shattered below USD4,700 as soaring US inflation dampened expectations of Fed rate cuts. ZHAOJIN MINING (01818.HK) slumped 11.54% to HKD24.98 at midday. ZIJIN MINING (02899.HK) tumbled 4.84% to HKD36.94, making it the worst-performing blue chip in the morning session. ZIJIN GOLD INTL (02259.HK) declined 3.27%, CHINAGOLDINTL (02099.HK) shed 4.52%, and LINGBAO GOLD (03330.HK) slid 6.68%.
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At midday close, HSI rose 90 pts or 0.3% to 26,478. HSTI rose 16 pts or 0.3% to 5,109. HSCEI gained 13 pts or 0.2% to 8,889.

Active Heavyweights:
BABA (09988.HK) closed at $139.5, up 5%
MEITUAN (03690.HK) closed at $86.2, down 1.6%
XIAOMI (01810.HK) closed at $31.94, up 0.4%
TENCENT (00700.HK) closed at $462.2, down 0.1%

HSI & HSCEI Constituents on Move:
HORIZONROBOT-W (09660.HK) closed at $6.23, down 7.2%
LI AUTO (02015.HK) closed at $78.4, up 6.4%
ZIJIN MINING (02899.HK) closed at $36.94, down 4.8%
CMOC (03993.HK) closed at $19.57, down 4.6%
WUXI APPTEC (02359.HK) closed at $131, down 4.6%
POP MART (09992.HK) closed at $154.3, down 4.1%
WUXI BIO (02269.HK) closed at $32.56, down 3.8%
SHENZHOU INTL (02313.HK) closed at $47.78, up 3.1%
BANK OF CHINA (03988.HK) closed at $5.31, up 1.7%, hitting new high

HSMI & HSSI Constituents on Move:
PEGBIO CO-B (02565.HK) closed at $15.54, down 20.3%
DALIPAL HLDG (01921.HK) closed at $3.35, down 11.6%
ZHAOJIN MINING (01818.HK) closed at $24.98, down 11.5%
DATANG POWER (00991.HK) closed at $3.12, down 11.1%
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TENNOR THERAP-B (06872.HK), a biotechnology company approaching commercialization, announced details of its IPO, proposing a global offering of 8.2806 million H shares, of which around 10% will be offered in Hong Kong and around 90% internationally. The offer price is HKD75.7 per share.

Based on a board lot of 50 shares, the entry fee per lot is approximately HKD3,823.17. The stock will start its public offering today (14th) and close at noon next Tuesday (19th), with listing expected next Friday (22nd). Joint sponsors are CITIC Securities and ABCI.

The IPO attracted five cornerstone investors, including AMR Action Fund, L.P., AMR Action Fund, and SCSp, subscribing for shares equivalent to approximately USD29.8 million (approximately HKD234 million) in aggregate.

WUXI APPTEC (02359.HK) is a long-standing investor of the company. Upon completion of the global offering, WUXI APPTEC will hold approximately 5.5% of the company's total issued share capital through WuXi Fund.

The company expected to raise net proceeds of approximately HKD558 million from the listing.
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CTF SERVICES (00659.HK) announced that it has agreed to sell 100% equity interest in Hunan CTFS Expressway to the Shanghai Municipal State-owned Assets Supervision and Administration Commission (Shanghai SASAC) for a total consideration of approximately RMB1.61 billion. Hunan CTFS Expressway has also agreed to repay shareholder loans within 30 business days after the completion date.

Hunan CTFS Expressway has been operating the Changsha-Liuyang Expressway project, which is connecting Changsha and Liuyang.

The net proceeds from the Transaction are expected to be used for redeployment into investments that align with the Group’s strategic priorities and that offer long-term growth potential with more attractive risk-adjusted returns; and other general corporate purposes of the Group.
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MANULIFE-S (00945.HK) announced its results for the first quarter ended March 2026. Core earnings reached CAD1.836 billion, up 8% YoY at CER compared with 1Q25. Net income attributed to shareholders surged 149% YoY to CAD1.147 billion, mainly driven by lower net market experience losses and growth in core earnings. Core EPS was CAD1.06, while basic EPS was CAD0.65. The company declared a quarterly common share dividend of CAD0.485 per share.
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ADR Code | Relative price (HKD) | Premium of HK stocks vs ADR (%)

CKHUY.NASD OTHER | 72.81 | -0.29%
CLPHY.NASD OTHER | 76.803 | -0.72%
HOKCY.NASD OTHER | 7.516 | -2.34%
WARFY.NASD OTHER | 29.359 | -6.20%
HSBC.NYSE | 141.909 | -1.12%
HGKGY.NASD OTHER | 67.016 | -3.75%
PCCWY.NASD OTHER | 5.936 | 4.45%

HLDCY.NASD OTHER | 33.586 | 0.16%
SUHJY.NASD OTHER | 141.877 | -1.60%
NDVLY.NASD OTHER | 9.395 | -0.48%
SWRAY.NASD OTHER | 88.307 | -1.65%
BKEAY.NASD OTHER | 13.638 | 3.02%
GXYEF.NASD OTHER | 32.443 | 2.58%
HLPPY.NASD OTHER | 8.776 | 0.16%
GELYY.NASD OTHER | 19.122 | 11.81%
CTPCY.NASD OTHER | 13.231 | 1.50%
CPCAY.NASD OTHER | 12.464 | -0.35%
CGHLY.NASD OTHER | 7.281 | 1.77%
HKXCY.NASD OTHER | 432.396 | -1.99%
TVBCY.NASD OTHER | 3.173 | -13.65%
TTNDY.NASD OTHER | 126.626 | -2.72%
CAOVY.NASD OTHER | 16.864 | -2.69%
TCEHY.NASD OTHER | 478.353 | -3.29%
CICHY.NASD OTHER | 8.929 | -0.66%
LNVGY.NASD OTHER | 13.176 | -1.79%
CKISY.NASD OTHER | 68.112 | -4.13%
BYDDY.NASD OTHER | 100.838 | -2.67%
AAGIY.NASD OTHER | 89.114 | -2.43%
IDCBY.NASD OTHER | 7.05 | -0.71%
XIACY.NASD OTHER | 32.443 | -1.98%
SCHYY.NASD OTHER | 16.23 | -1.23%
ANPDY.NASD OTHER | 78.231 | -0.93%
PNGAY.NASD OTHER | 65.451 | -2.06%
BHKLY.NASD OTHER | 46.594 | -0.50%
MPNGY.NASD OTHER | 91.795 | -4.57%
CIHKY.NASD OTHER | 47.475 | -0.54%
BACHY.NASD OTHER | 5.252 | -0.61%
JD.NASD | 132.193 | -3.02%
BABA.NYSE | 142.693 | -6.93%
NTES.NASD | 187.677 | -0.84%

On a pro-rata basis, it is equivalent for HSI to open up 523 pts to 26,912 this morning.
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On debut today, IMPACT THERAP-B(07630.HK) opened at $35.5, up 76.6% from the listing price of $20.1. Peaking/ bottoming at $45.8/33.1, the stock closed at $41.86, up 108.3% from the listing price of $20.1, on volume of 15.13 million shares and turnover of $544.22 million. Excluding handling fee, the book gain was $4,352 per board lot size of 200 shares.
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On debut today, METIS TECHBIO-P(07666.HK) opened at $28.68, up 173.1% from the listing price of $10.5. Peaking/ bottoming at $29.98/22.5, the stock closed at $23.8, up 126.7% from the listing price of $10.5, on volume of 84.54 million shares and turnover of $2.4 billion. Excluding handling fee, the book gain was $6,650 per board lot size of 500 shares.
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METIS TECHBIO-P(07666.HK) closed at $29.4 on gray market yesterday, up 180.0% from the listing price of $10.5. On debut today, the stock opened at $28.68, up 173.1% from the listing price of $10.5, 48.63 million shares traded at market open.
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IMPACT THERAP-B(07630.HK) closed at $32.16 on gray market yesterday, up 60.0% from the listing price of $20.1. On debut today, the stock opened at $35.5, up 76.6% from the listing price of $20.1, 7.93 million shares traded at market open.
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POP MART (09992.HK) reported that its total revenue for the first quarter surged 75-80% YoY, lifting its share price to open 3.87% higher this morning (13th), with an intraday peak at HKD171. The stock last quoted at HKD163.6 in early trading, up 0.43%, with turnover of 6.2869 million shares, involving HKD1.048 billion.

After market close yesterday, POP MART announced that overall revenue for the first quarter of 2026 recorded a period-on-period increase of 75%-80% as compared to the first quarter of 2025, among which, revenue attributed from operations in the PRC recorded a period-on-period increase of 100%-105%, revenue attributed from operations in Asia-Pacific recorded a period-on-period increase of 25%-30%, revenue attributed from operations in America recorded a period-on-period increase of 55%-60%, and revenue attributed from operations in Europe and other regions recorded a period-on-period increase of 60%-65%.
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JD HEALTH (06618.HK) reported that its 1Q26 non-IFRS net profit added 6% YoY to RMB1.874 billion. The company plans to repurchase shares of up to USD1 billion. The stock opened 3.43% higher this morning (13th) at HKD47, with 141,100 shares traded pre-market, involving HKD6.6293 million.
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JD INDUSTRIALS (07618.HK) opened 4.17% higher at HK$15 today (13th), with 146,800 shares dealt in pre-market trading, amounting to HK$2.1145 million.

JD INDUSTRIALS announced its operating data for 1Q26. Non-IFRS operating income was approximately RMB189 million, up 42.6% YoY. Non-IFRS net profit reached RMB229 million, up 54.4% YoY. Revenue was RMB5.659 billion, up 25.3% YoY.

The Group also announced that the Board of Directors has authorized and approved a plan to repurchase up to US$200 million worth of company shares on the open market over a period of 24 months from the date of approval.
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