【Today's Headlines】
The Ministry of Agriculture and Rural Affairs and ten other departments release implementation plan to promote agricultural product consumption
In order to implement the decisions and deployments of the Central Committee of the Communist Party of China and the State Council to vigorously boost consumption and effectively expand agricultural product consumption, the Ministry of Agriculture and Rural Affairs, the National Development and Reform Commission, the Ministry of Education, the Ministry of Industry and Information Technology, the Ministry of Commerce, the Ministry of Culture and Tourism, the National Health Commission, the State Administration for Market Regulation, the General Administration of Sport, and the National Intellectual Property Administration jointly formulated the &#34;Implementation Plan for Promoting Agricultural Product Consumption.&#34; This involves Hong Kong stocks such as October Rice Field (09676), China Heart to Heart Fertilizer (01866), Fufeng Group (00546), Dekang Agriculture and Animal Husbandry (02419), COFCO Joycome (01610), and Fengxiang Co., Ltd. (09977).
【Market Outlook】
Hang Seng Index ADR down 0.21%
As of the close last weekend, the U.S. stock market saw the Dow Jones rise by 208.01 points, an increase of 0.47%, closing at 44,901.92 points. The Nasdaq Composite Index rose by 50.36 points, an increase of 0.24%, closing at 21,108.32 points. The S&amp;P 500 Index rose by 25.30 points, an increase of 0.40%, closing at 6,388.65 points. Intel (INTC.US) fell by 8.53%, while Tesla (TSLA.US) rose by 3.52%.
Last week, the Dow Jones increased by 1.26%, the Nasdaq rose by 1.02%, and the S&amp;P 500 Index rose by 1.46%. The S&amp;P 500 Index set a closing record for the fifth consecutive time last week, marking the 13th new high in 2025. On Monday, the index first broke through the 6,300-point mark. The Nasdaq Index broke through the 21,000-point barrier on Wednesday, setting a new closing historical high four times last week. Last Friday, the Hang Seng Index ADR fell, closing at 25,334.64 points, down 53.71 points or 0.21% compared to the Hong Kong close.
【Hot Topics Ahead】
Ministry of Finance: Securities transaction stamp duty in the first half of the year was 78.5 billion yuan, a year-on-year increase of 54.1%
In the first half of the year, the national general public budget revenue was 1,155.66 billion yuan, a year-on-year decrease of 0.3%. Among them, national tax revenue was 929.15 billion yuan, a year-on-year decrease of 1.2%; non-tax revenue was 226.51 billion yuan, a year-on-year increase of 3.7%. Looking at central and local levels, central general public budget revenue was 485.89 billion yuan, a year-on-year decrease of 2.8%; local general public budget revenue was 669.77 billion yuan, a year-on-year increase of 1.6%.
AI Investment Alliance officially established
On July 27, the &#34;AI Investment Alliance&#34; was officially established during the 2025 World Artificial Intelligence Conference at the 2025 China Telecom Artificial Intelligence Ecological Forum. The founding members of the alliance include China Telecom, University of Science and Technology of China, National Social Security Fund Council, ZTE Corporation, China Electronics Technology Group Corporation, China National Petroleum Corporation, China Petroleum &amp; Chemical Corporation, China Electronics, China National Machinery Industry Corporation, CRRC Corporation Limited, China Chengtong Holdings Group, China Reform Holdings Corporation, Beijing Artificial Intelligence Industry Fund, Shanghai Artificial Intelligence Ecological Fund, Kunpeng Capital, Industrial and Commercial Bank of China, China Construction Bank, Renmin University of China, Tsinghua University, Shanghai Jiao Tong University, National Science Investment, Tianfu Jiangxi Laboratory, University of Electronic Science and Technology of China, China Life Insurance, etc
China Successfully Launches 5 Low Earth Orbit Satellite Internet Satellites
China successfully launched 5 low Earth orbit satellite internet satellites using the Long March 6 modified rocket at the Taiyuan Satellite Launch Center. The satellites successfully entered their designated orbits, and the launch mission was a complete success.
Tesla's Third-Generation Robot Set to Enter China's C-End Market
Tesla insiders revealed that the third-generation robot has been undergoing testing at its U.S. factory and is expected to be launched for the Chinese C-end market in 2025, entering consumer scenarios such as households. Mass production is anticipated in 2026, with a plan to produce 1 million units annually within five years.
Kuaishou Keling AI Releases New Feature: Lingdong Canvas
At the &#34;Generative AI Application Year&#34; forum held during WAIC, Kuaishou Keling AI announced a significant upgrade with the Lingdong Canvas and multi-image reference. The Lingdong Canvas serves as a creative workspace, integrating unlimited visualization space, intelligent creative assistance, and real-time collaboration for multiple users, providing creators with a one-stop creative experience.
Fosun Financial (02263) Subsidiary Jiafuda Securities Submits Application to Hong Kong SFC for License to Conduct Regulated Activity Type 1
According to Zhitong Finance APP, Fosun Financial (02263) announced that its indirectly wholly-owned subsidiary, Jiafuda Securities Limited, submitted an application to the Hong Kong Securities and Futures Commission on July 25, 2025, aiming to obtain a license for regulated activity Type 1 (securities trading) under the Securities and Futures Ordinance (Cap. 571) to provide virtual asset trading and/or consulting services as an intermediary. The board expects that once the application is approved, Jiafuda Securities will provide virtual asset trading services through a comprehensive account arrangement and offer virtual asset trading services by introducing qualified clients to licensed virtual asset trading platforms for direct trading.
Superstar Legend (06683) Plans to Discount Approximately 19.91% for Old and New Share Placement, Raising Up to Approximately HKD 324 Million
According to Zhitong Finance APP, Superstar Legend (06683) announced that on July 25, 2025 (after trading hours), the company, the seller (executive director, chief financial officer, and major shareholder Lai Guohui), and the placement agent entered into a placement and subscription agreement. The seller intends to sell 37.5245 million existing shares through the placement agent at a placement price of HKD 9.13 per share; and the company intends to issue 37.5245 million subscription shares to the seller at a subscription price of HKD 9.13 per share, representing a discount of approximately 19.91% compared to the closing price of HKD 11.40 per share reported on the Hong Kong Stock Exchange on July 25, 2025.
CITIC Securities Plans to List in Hong Kong, &#34;A+H&#34; Brokerage Firms Expected to Expand to 14
CITIC Securities has initiated its plan to list in Hong Kong less than three years after its A-share listing. Recently, CITIC Securities announced that its board of directors has reviewed and approved the proposal for the company to issue overseas listed shares and apply for listing on the main board of the Hong Kong Stock Exchange, with the raised funds intended for increasing capital and supplementing working capital. If this H-share issuance and listing are successfully completed, CITIC Securities is expected to become the 14th &#34;A+H&#34; brokerage firm. Industry insiders believe that listing through H-shares can enhance the capital of relevant institutions, fill in business gaps, and attract international capital, which will be beneficial for the company's subsequent business development and business license applications
China Tobacco Hong Kong (06055): Exclusive Cigarette Export Business Not Affected by Relevant Regulatory Draft
China Tobacco Hong Kong announced on the Hong Kong Stock Exchange that the company noted the State Tobacco Monopoly Administration issued the &#34;Management Measures for Tobacco Products in the Domestic Duty-Free Market&#34; on July 25, 2025. According to the company's preliminary understanding, based on the regulatory draft and current Chinese laws and regulations, the only enterprise qualified for state-owned trade in tobacco import and export is China Tobacco International Co., Ltd. Currently, the company is engaged in the duty-free cigarette business by purchasing cigarettes from China National Tobacco Corporation and exclusively selling them to the duty-free markets in Thailand, Singapore, Hong Kong, and Macau, as well as the domestic duty-free market in China. In the fiscal year 2024, approximately 10% of the group's revenue comes from the domestic duty-free cigarette business in China. The regulatory draft does not affect the company's exclusive cigarette export business outside of the domestic duty-free cigarette business in China.
Ascentage Pharma-B (06855) Completes Placement of 22 Million Shares, Net Proceeds Approximately HKD 1.4925 Billion
According to Zhitong Finance APP, Ascentage Pharma-B (06855) announced that all conditions precedent for the placement have been met, and the placement was completed on July 17, 2025. The placement agent successfully placed a total of 22 million shares at a placement price of HKD 68.60 per share to no fewer than six subscribers in accordance with the terms and conditions of the placement and subscription agreement.
Lao Pu Gold (06181) Issues Earnings Upgrade: Expects Net Profit for the First Half of the Year to be Approximately RMB 2.23 Billion - 2.28 Billion, Year-on-Year Growth of Approximately 279%-288%
According to Zhitong Finance APP, Lao Pu Gold (06181.HK) announced that the group expects to achieve sales performance (including tax revenue) of approximately RMB 13.8 billion - 14.3 billion in the first half of 2025, a year-on-year increase of approximately 240% to 252%; revenue is expected to be approximately RMB 12 billion - 12.5 billion, an increase of approximately 241% to 255% compared to the same period last year; adjusted net profit measured under non-International Financial Reporting Standards (excluding the impact of share-based payment compensation) is expected to be approximately RMB 2.3 billion - 2.36 billion, a year-on-year increase of approximately 282% to 292%; net profit is expected to be approximately RMB 2.23 billion - 2.28 billion, a year-on-year increase of approximately 279% to 288%.
[Stock Highlights]
Tencent (00700): Officially Releases and Open Sources the Industry's First 3D World Generation Model
On July 27, during the WAIC Tencent AI Forum, Wu Yunsheng, Vice President of Tencent Cloud, Head of Tencent Cloud Intelligence, and Head of Tencent YouTu Lab, announced that Tencent officially released and open-sourced the industry's first 3D world generation model—Hunyuan 3D World Model 1.0. Users only need to input a sentence or an image to generate a navigable 3D world within minutes. This allows for the output of standardized 3D assets, significantly shortening production cycles. Additionally, he revealed that many more models are set to be open-sourced in the future, such as edge-side mixed inference large language models and multimodal understanding models.
Tencent Hunyuan stated on its WeChat public account that it has launched a digital world generation tool for video game developers, virtual reality, and digital content creators. The statement noted that Hunyuan 3D World Model 1.0 is the industry's first open-source 3D world model with immersive roaming, interaction, and simulation capabilities
The model allows users to generate high-quality, navigable 3D scenes using text and image inputs; it integrates panoramic visual generation and layered 3D reconstruction technology.
During the 2025 World Artificial Intelligence Conference, Tencent Robotics X Lab released the first modular embodied intelligence open platform, Tairos, to assist in the intelligent upgrade of the robotics industry

00HSI

On July 27th, the AI Investment Alliance was established during the 2025 World Artificial Intelligence Conference. The Ministry of Agriculture and Rural Affairs and nine other departments released the "Implementation Plan for Promoting Agricultural Product Consumption," aimed at expanding agricultural product consumption, involving multiple Hong Kong stock companies. The Hang Seng Index ADR fell by 0.21%, while U.S. stocks performed well, with the S&P 500 Index continuously setting closing records. Data from the Ministry of Finance shows that the stamp duty on securities transactions in the first half of the year increased by 54.1% year-on-year

- The Ministry of Agriculture and Rural Affairs, along with ten other departments, has released a plan to boost agricultural product consumption in line with national policies.  
- The Hang Seng Index saw a slight decline of 0.21%, while major U.S. indices experienced gains, with the S&P 500 reaching a record high.  
- The AI Investment Alliance was officially established, and several companies, including Tesla and Tencent, announced significant developments in their respective sectors.

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Zhitong Hong Kong Stock Early Knowledge | The Ministry of Agriculture and Rural Affairs and others released the implementation plan to promote agricultural product consumption, and the AI Investment Alliance was officially established