[Headline]
Trump announces trade agreement with Vietnam; US imposes 20% tariff on imports from Vietnam
According to Zhitong Finance APP, US President Trump announced on his social media platform Truth Social on Wednesday that the US has reached a new trade agreement with Vietnam, imposing a 20% tariff on all goods from Vietnam, while gaining &#34;zero tariff&#34; market access for US goods into Vietnam.
Trump also stated that for so-called &#34;transshipment trade&#34; (goods originating from other countries that are transshipped through Vietnam), Vietnamese goods will face a higher 40% tariff. He also mentioned that US exports to Vietnam will not be subject to any tariffs. &#34;In other words, they will 'open the market to the US',&#34; Trump wrote. Trump stated that the US and Vietnam have reached a trade agreement, leading to a rise in US stocks related to apparel and footwear, with Nike up over 4%. This involves Hong Kong stocks such as Shenzhou International (02313), YUE YUEN IND (00551), and Huatai Textile (01382).
[Market Outlook]
Nasdaq and S&amp;P 500 both hit record closing highs
Overnight, the Dow Jones Industrial Average fell by 10.52 points from the previous trading day, closing at 44,484.42 points, a decrease of 0.02%; the S&amp;P 500 index rose by 29.41 points, closing at 6,227.42 points, an increase of 0.47%; the Nasdaq Composite Index rose by 190.24 points, closing at 20,393.13 points, an increase of 0.94%. Both the Nasdaq and S&amp;P 500 indices set record closing highs. Major tech stocks rebounded collectively, with Tesla rising nearly 5%, Oracle up over 5%, and Nvidia and Apple both up over 2%.
Popular Chinese concept stocks showed mixed results, with the Nasdaq Golden Dragon China Index closing up 0.06%. The Hang Seng Index ADR fell, closing at 24,210.01 points, down 11.40 points or 0.05% compared to the Hong Kong close.
The Hang Seng Index Company will announce the results of the second quarter index review on August 22.
[Hot Topics Ahead]
China Internet Association releases project announcement for two group standards including &#34;Management Specifications for Recommendation Algorithms of Internet Platform Enterprises&#34;
According to the China Internet Association, based on relevant regulations for group standards management, the project review has determined that the group standards &#34;Management Specifications for Recommendation Algorithms of Internet Platform Enterprises&#34; and &#34;Technical Requirements for Medical ECG Cloud Service Platforms&#34; meet the project requirements and are now officially announced. The &#34;Management Specifications for Recommendation Algorithms of Internet Platform Enterprises&#34; stipulates management requirements for recommendation algorithms of internet platform enterprises, including: 1) specifications for algorithm management organizational structure, 2) principles of algorithm design, 3) management of algorithm research and development and operation, 4) algorithm testing and evaluation, 5) security assurance and emergency response, 6) requirements for cultivating compliance awareness among employees.
Rising temperatures in Europe boost air conditioning sales; some Chinese companies see sales growth of 30% year-on-year
As July arrives, the high temperatures in Europe continue. Journalists from several air conditioning companies have reported that the hot weather in Europe has led to a surge in air conditioning sales. A representative from Haier Smart Home revealed that Haier's air conditioning sales in Europe have increased by about 30% year-on-year. &#34;Sales have indeed improved as the weather has gotten hotter,&#34; said the European market head for TCL air conditioning
Ganfeng Lithium (01772): Acquisition of Remaining 40% Stake in Mali Lithium Completed
Ganfeng Lithium announced that its wholly-owned subsidiary, Ganfeng International, has completed the acquisition of the remaining 40% stake in Mali Lithium B.V., a subsidiary of Leo Lithium Limited, with a payment of USD 343 million. As of now, Ganfeng Lithium holds 100% equity in Mali Lithium, and the first phase of the Goulamina lithium spodumene project in Mali, with an annual production capacity of 506,000 tons of lithium concentrate, has officially commenced production, with capacity gradually being released. The export transportation line for lithium ore from Mali to China has been successfully opened, marking a substantial output phase for the company's lithium resource layout in Africa.
Fuhong Hanlin (02696): Obtains EU GMP Certification
According to Zhitong Finance APP, Fuhong Hanlin (02696) announced that its wholly-owned subsidiary, Shanghai Fuhong Hanlin Biopharmaceutical Co., Ltd. (Hanlin Pharmaceutical), has received two &#34;Certificate of GMP Compliance of a Manufacturer&#34; (GMP certificates) issued by the Federal Agency For Medicines And Health Products of Belgium. The production lines for the raw solution (DS) and formulation (DP) of HLX11, as well as the production lines for the raw solution (DS) and formulations (DP) of HLX14, have passed GMP certification. According to the GMP mutual recognition system among EU member states, this GMP certification indicates that the production lines for HLX11 and HLX14 comply with EU GMP standards.
National Medical Products Administration Approves the Market Launch of Injectable Suvorexant Monoclonal Antibody
Recently, the National Medical Products Administration approved the market launch of the injectable Suvorexant monoclonal antibody submitted by Jiangsu Xiansheng Biopharmaceutical Co., Ltd. The indications are: Suvorexant combined with paclitaxel, liposomal doxorubicin, or topotecan for the treatment of adult recurrent ovarian cancer, fallopian tube cancer, or primary peritoneal cancer who have received no more than one systemic treatment after platinum resistance. The launch of this product provides new treatment options for relevant patients. This involves Hong Kong-listed Xiansheng Pharmaceutical (02096).
Honghua Group (00196) Sichuan Honghua Signs Drill Sales Agreement Exceeding USD 100 Million with Middle Eastern Client
According to Zhitong Finance APP, Honghua Group (00196) announced that its subsidiary, Sichuan Honghua Petroleum Equipment Co., Ltd. (Sichuan Honghua), has recently signed a drill sales agreement exceeding USD 100 million with a Middle Eastern client. According to the sales agreement, Sichuan Honghua will provide several sets of drilling equipment to the client. This type of drill is a desert quick-move drill, featuring strong mobility and flexibility, capable of adapting to various complex terrains and operational environments, helping clients achieve efficient and energy-saving drilling operations.
Little Yellow Duck Deying (02250) Plans to Establish Joint Venture with Nanjing Steel Xingbo to Develop IP-based Entertainment and Retail Projects
According to the Zhitong Finance APP, Little Yellow Duck Deying (02250) announced that on July 2, 2025, Deying Cultural Tourism (a wholly-owned subsidiary of the company) (i) entered into a cooperation framework agreement with Nanjing Steel Xingbo and the company to lay the foundation for the establishment of a joint venture; (ii) signed a joint venture agreement with Nanjing Steel Xingbo to jointly establish a joint venture, in which Deying Cultural Tourism will contribute RMB 22.5 million in cash (accounting for 60% of the total registered capital of the joint venture) and Nanjing Steel Xingbo (or its designated affiliate) will contribute RMB 15 million in cash (accounting for 40% of the total registered capital of the joint venture); and (iii) signed a joint venture supplementary agreement with Nanjing Steel Xingbo and the company, granting Nanjing Steel Xingbo (or its designated affiliate) a sale option.
GDS Holdings Limited-SW (09698): The final offer price for the initial public offering (IPO) of C-REIT is HKD 3.00 per share
According to the Zhitong Finance APP, GDS Holdings Limited-SW (09698) announced that it refers to its previous announcement on June 26, 2025, regarding regulatory approval and the launch of the C-REIT offering. The company today announced that the final offer price for its Southern GDS Data Center Closed-End Infrastructure Securities Investment Fund (C-REIT) for the initial public offering (IPO) on the Shanghai Stock Exchange has been set at RMB 3.00 per share. The final offer price was determined after the institutional inquiry (which was oversubscribed by 166 times) was completed. C-REIT will issue a total of 800 million shares, equivalent to 100% of the shares issued after the IPO is completed. The total amount of funds raised by C-REIT will be RMB 2.4 billion.
Luxshare Precision (002475.SZ) plans to issue H-shares and list on the Hong Kong Stock Exchange
According to the Zhitong Finance APP, Luxshare Precision (002475.SZ) announced that in order to deepen the company's global strategic layout, enhance its overseas financing capabilities, and further improve the transparency and standardization of corporate governance, the company is currently planning to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange Limited (referred to as &#34;Hong Kong Stock Exchange&#34;) (referred to as &#34;this H-share issuance and listing&#34;). The company is discussing the specific advancement of this H-share issuance and listing with relevant intermediary institutions, and the relevant details have not yet been determined. This H-share issuance and listing will not lead to changes in the company's controlling shareholder and actual controller.
[Stock Highlights]
Immune-Onc Therapeutics-B (01541): IMM2510/AXN-2510 receives IND approval from the U.S. FDA
Immune-Onc Therapeutics-B announced that the IMM2510/AXN-2510 bispecific antibody developed in collaboration with InstilBio, Inc.'s wholly-owned subsidiary AxionBio, Inc. has received approval for a new drug clinical trial application from the U.S. Food and Drug Administration. Instil plans to initiate a Phase 1b/2 trial of IMM2510/AXN-2510 as a monotherapy for patients with recurrent/refractory solid tumors by the end of 2025, aiming to evaluate its safety, efficacy, pharmacokinetics, and pharmacodynamics in patients with solid tumors. Meanwhile, data from the ongoing Phase 2 study of IMM2510/AXN-2510 in combination with chemotherapy for first-line non-small cell lung cancer in China is expected to be released in the second half of 2025
XPeng Motors-W (09868) Delivered 34,611 Smart Electric Vehicles in June, a Year-on-Year Increase of 224%
According to the announcement from XPeng Motors-W (09868), in June 2025, XPeng Motors delivered a total of 34,611 smart electric vehicles, representing a year-on-year increase of 224%. This marks the eighth consecutive month that XPeng Motors has delivered over 30,000 vehicles. In the second quarter of 2025, XPeng Motors delivered a total of 103,181 smart electric vehicles, setting a new quarterly delivery record. In the first half of 2025, XPeng Motors delivered a total of 197,189 smart electric vehicles, surpassing its total delivery volume for the entire year of 2024

00551

SHZHY

02313

U.S. President Trump announced a new trade agreement with Vietnam, under which all goods from Vietnam will be subject to a 20% tariff, while Vietnam will provide "zero tariff" market access for U.S. goods. Trump stated that re-exported goods from Vietnam will face a 40% tariff, while U.S. exports to Vietnam will not be subject to tariffs. This news boosted U.S. stocks in the apparel and footwear sectors, with related Hong Kong stocks such as Shenzhou International and YUE YUEN IND being affected

- President Trump announced a new trade agreement with Vietnam, imposing a 20% tariff on all imports from the country while allowing zero tariffs on U.S. goods entering Vietnam.  
- The agreement also includes a 40% tariff on goods transshipped through Vietnam from other countries.  
- Following the announcement, U.S. stock prices for apparel and footwear companies rose, with Nike increasing by over 4%.

Zhitong

YUE YUEN IND

Shenzhou International

SHENZHOU INTL

NASDAQ Golden Dragon China Index

HAIER SMARTHOME

NASDAQ Composite Index

HENLIUS

Dow Jones Industrial Average

Tesla

GANFENGLITHIUM

NVIDIA

CNI BIOMEDICINE

ISHARESHSI

GDS-SW

LUXSHARE-ICT

YieldMax NVDA Option Income Strategy ETF

PACIFICTEXTILES

HONGHUA GROUP

IMMUNEONCO-B

ByteDance

Oracle

B.DUCK SEMK

Nike

SIMCERE PHARMA

Hang Seng Index

GraniteShares 2x Long NVDA Daily ETF

XPENG-W

Zhitong Hong Kong Stock Early Knowledge | The U.S. imposes a 20% tariff on imports from Vietnam, XPeng's June deliveries increased by 224% year-on-year