【Today's Headlines】
State Council Meeting Reviews and Approves &#34;Opinions on Deepening the Implementation of 'Artificial Intelligence+' Actions&#34;
On July 31, Premier Li Qiang presided over a State Council executive meeting, which reviewed and approved the &#34;Opinions on Deepening the Implementation of 'Artificial Intelligence+' Actions.&#34; The meeting pointed out the need to deeply implement the &#34;Artificial Intelligence+&#34; actions, vigorously promote the large-scale commercial application of artificial intelligence, and accelerate the popularization and deep integration of artificial intelligence in various fields of economic and social development, forming a virtuous cycle of innovation driving application and application promoting innovation. Government departments and state-owned enterprises should strengthen demonstration leadership and support technology landing through open scenarios. The artificial intelligence innovation ecosystem should be optimized, enhancing computing power, algorithms, and data supply, increasing policy support, strengthening talent team building, and constructing an open-source and open system to provide strong support for industrial development. The level of safety capabilities should be improved, accelerating the formation of a dynamic, agile, and multi-coordinated governance pattern for artificial intelligence.
Dongfang Securities pointed out that it is optimistic about the user growth and commercialization acceleration of vertical AI products in the second half of the year. Considering the better overseas AI payment habits and willingness, the firm believes that domestic companies with overseas AI application layouts should be emphasized, as commercialization may exceed expectations.
【Market Outlook】
Hang Seng Index ADR Down 0.36%
Overnight, U.S. stocks closed with the Dow Jones down 330.30 points, a decrease of 0.74%, closing at 44,130.98 points; the Nasdaq fell 7.23 points, a decrease of 0.03%, closing at 21,122.45 points; the S&amp;P 500 index dropped 23.51 points, a decrease of 0.37%, closing at 6,339.39 points. Design software giant Figma (FIG.US) continued to rise over 27% after hours, closing up 250% on its IPO day, with a closing price of $115.5 and a total market value of $56.3 billion.
Most popular Chinese concept stocks rose, with Nio up nearly 8%, Kingsoft Cloud up over 5%, and Alibaba, Bilibili, and Baidu each up over 2%. The Hang Seng Index ADR fell, closing at 24,683.19 points, down 90.14 points or 0.36% compared to the Hong Kong close.
【Hot Topics Ahead】
Ministry of Commerce: China and the U.S. Will Continue to Promote the 24% Tariff on the U.S. Side That Has Been Suspended and China's Countermeasures for a 90-Day Extension
He Yadong, spokesperson for the Ministry of Commerce, stated at a regular press conference on July 31 that according to the consensus reached in the China-U.S. Stockholm economic and trade talks, both sides will continue to promote the 24% tariff on the U.S. side that has been suspended and China's countermeasures for a timely 90-day extension, further stabilizing China-U.S. economic and trade relations and injecting more certainty into global economic development and stability.
Gamma Data: Actual Sales Revenue of Domestic Game Market Reached 168 Billion Yuan from January to June, a Year-on-Year Increase of 14.08%
According to Zhitong Finance APP, on July 31, the China Audio-Video and Digital Publishing Association released the &#34;2025 China Game Industry Report for January to June,&#34; with Gamma Data as a strategic partner providing data services. Data provided by Gamma Data shows that from January to June 2025, the actual sales revenue of the domestic game market reached 168 billion yuan, a year-on-year increase of 14.08%, setting a new record. The number of game users reached nearly 679 million, a year-on-year increase of 0.72%, also a historical high
Macau's GDP Grows 5.1% in the Second Quarter of This Year
According to information from the Macao Statistics and Census Service on July 31, the number of visitors to Macau recorded a significant increase in the second quarter of this year, benefiting from a series of measures to attract tourists, which led to a noticeable rebound in service exports. Additionally, local private consumption in Macau continued to remain stable, resulting in a return to positive economic growth. The preliminary value of Macau's Gross Domestic Product (GDP) for the second quarter of 2025 was MOP 100.38 billion, representing a year-on-year real growth of 5.1%, with the overall economic scale recovering to 88.8% of the level in the same period of 2019.
Strong iPhone Sales and Market Rebound in Greater China Drive Apple's Revenue Surge
Despite the threats posed by the Trump trade war, Apple's (AAPL.US) latest quarterly revenue far exceeded expectations, with iPhone sales soaring. The financial report showed that Apple's revenue for the third fiscal quarter increased by approximately 10% year-on-year to USD 94 billion, significantly higher than the expected USD 89.3 billion. Global iPhone sales grew by 13.5% year-on-year to USD 44.6 billion. Trump's trade and tariff agenda has caused Apple to lose about USD 700 billion in market value. Apple's Chief Financial Officer Kevan Parekh stated, &#34;The three main drivers of our performance this quarter were iPhone, Mac, and services.&#34; Additionally, the company reported a quarterly gross margin of 46.5%, better than the expected 46%; revenue from Greater China increased by 4% year-on-year to USD 15.4 billion, reversing the trend of quarterly decline.
Joy City: Joy City Property (00207) Plans to Repurchase Shares at HKD 0.62/Share and Apply for Delisting from Hong Kong
Joy City announced that its controlling subsidiary, Joy City Property, intends to propose a privatization plan to shareholders other than the company and DeMao, to repurchase shares through a private arrangement at a price of HKD 0.62 per share, with a total amount of approximately HKD 2.932 billion. Upon completion of the transaction, the company will enhance its equity in Joy City Property, which is beneficial for increasing the company's net profit attributable to shareholders. This transaction carries uncertainties and will only take effect after meeting or waiving certain conditions.
Fosun Pharma (02696) H Drug Completes First Batch Supply for the Indian Market
On July 31, Fosun Pharma announced that its self-developed and produced anti-PD-1 monoclonal antibody H Drug has completed its first batch supply for the Indian market. It was reported that the H Drug was approved by the Central Drugs Standard Control Organization of India in June 2025 for first-line treatment of extensive-stage small cell lung cancer, becoming the first anti-PD-1 monoclonal antibody approved for this indication in India.
China Aircraft Leasing (01848) Plans to Sell Eight Aircraft with Leases
According to a report from Zhitong Finance APP, China Aircraft Leasing (01848) announced that in order to enhance capital utilization and pursue long-term sustainable growth, on July 31, 2025 (after trading hours), the company's wholly-owned subsidiary special purpose entity (seller) entered into an Aircraft Portfolio and Asset Purchase Agreement with an independent third party (buyer) for the sale of eight aircraft with leases, including six aircraft owned by the group and two aircraft managed by the group. The sale is expected to be completed by the end of October 2025
Health International (02211) plans to increase its registered capital to $50 million
According to Zhitong Finance APP, Health International (02211) announced that the board of directors proposed to increase the company's registered capital from $10 million (divided into 100 million shares) to $50 million (divided into 500 million shares) by adding 400 million shares, and these shares will enjoy equal status with existing shares in all respects after issuance.
BeiGene (06160): BGB-16673 receives priority medicine designation from the European Medicines Agency for the treatment of Waldenström macroglobulinemia
On July 31, BeiGene announced that the European Medicines Agency has granted the company’s investigational Bruton’s tyrosine kinase degrader BGB-16673 priority medicine designation for the treatment of patients with Waldenström macroglobulinemia who have previously received BTK inhibitor treatment. In addition to the PRIME designation, the EMA's Committee for Medicinal Products for Human Use also issued a positive opinion on the application for orphan drug designation for BGB-16673 for the treatment of WM patients. The final decision is expected to be announced in a few weeks.
Asia Television Holdings (00707) plans to sell 100% equity of Asia Television (China) Holdings Limited
According to Zhitong Finance APP, Asia Television Holdings (00707) announced that on July 31, 2025, its wholly-owned subsidiary Top Brand International Holdings Limited intends to sell 100% equity of Asia Television (China) Holdings Limited to Mr. Li Xinding, with a payment of HKD 100,000 upon completion. The group expects to confirm a profit of approximately HKD 7.3 million from the sale.
Sinopec: Expected net profit attributable to parent company in the first half of the year to decline by 39.5%-43.7% year-on-year
Sinopec announced that according to Chinese accounting standards, it is expected that the net profit attributable to the parent company shareholders for the first half of 2025 will be between RMB 20.1 billion and RMB 21.6 billion, a decline of 39.5% to 43.7% compared to the same period last year. It is expected that the net profit attributable to the parent company shareholders after deducting non-recurring gains and losses will be between RMB 20 billion and RMB 21.5 billion, a decline of 39.6% to 43.8% compared to the same period last year.
Hong Kong Tong Holdings (00032) issues profit warning, expects profit attributable to equity holders to increase to approximately HKD 470 million in the first half of the year
According to Zhitong Finance APP, Hong Kong Tong Holdings (00032) announced that the group expects to achieve a profit attributable to equity holders of approximately HKD 470 million in the first half of 2025, compared to approximately HKD 235 million in the same period of 2024. The expected increase in profit is mainly due to an estimated fair value gain net of approximately HKD 320 million from financial assets measured at fair value through profit or loss, compared to a fair value gain net of HKD 116.8 million from financial assets measured at fair value through profit or loss in the same period of 2024.
Qianxun Technology (01640) issues profit warning: expects mid-term net profit after tax to increase to approximately RMB 49.6 million - 53.6 million year-on-year
According to the Zhitong Finance APP, Qianxun Technology (01640) announced that it expects its unaudited consolidated net profit after tax for the six months ending June 30, 2025, to be approximately RMB 49.6 million to RMB 53.6 million, compared to an unaudited consolidated net profit after tax of approximately RMB 5.4 million for the same period last year.
Yaoshi Bang (09885) issues profit warning, expects interim profit attributable to shareholders to be no less than RMB 70 million
According to the Zhitong Finance APP, Yaoshi Bang (09885) announced that it expects the profit attributable to the owners of the company for the half-year ending June 30, 2025, to be no less than RMB 70 million, which is more than three times the profit attributable to the owners of the company of RMB 21.8 million for the half-year ending June 30, 2024.
Feida Holdings (01100) issues profit warning, expects interim profit attributable to shareholders to increase to no less than HKD 58 million
According to the Zhitong Finance APP, Feida Holdings (01100) announced that it expects the unaudited interim results for the six months ending June 30, 2025, to show a profit attributable to the owners of the company of no less than HKD 58 million, an increase from the profit attributable to the owners of the company of approximately HKD 35.269 million for the six months ending June 30, 2024.
Green Tea Group (06831): Net profit for the first half of the year is expected to increase by approximately 32%-36% year-on-year
Green Tea Group announced that it expects its profit for the six months ending June 30, 2025, to be between approximately RMB 2.3 billion and RMB 2.37 billion, compared to approximately RMB 1.74 billion for the six months ending June 30, 2024, an increase of approximately 32% to 36%; the adjusted net profit for the six months ending June 30, 2025, is expected to be between approximately RMB 2.47 billion and RMB 2.54 billion, compared to approximately RMB 1.79 billion for the six months ending June 30, 2024, an increase of approximately 38% to 42%.
Autohome-S (02518) reports a net profit of RMB 416 million in the second quarter, online marketing and other business revenue increased by 20.5% year-on-year
According to the Zhitong Finance APP, Autohome-S (02518) released its second-quarter results for 2025, reporting total net revenue of RMB 1.758 billion (same unit), a year-on-year decrease of 6.11%; the net profit attributable to Autohome was RMB 416 million, a year-on-year decrease of 20.79%; basic earnings per share were RMB 0.85.
[Stock Highlights]
Lee's Pharmaceutical Holdings (00950): Socazolimab has been approved by the National Medical Products Administration for first-line treatment of extensive-stage small cell lung cancer in combination with chemotherapy in mainland China
According to the Zhitong Finance APP, Lee's Pharmaceutical Holdings (00950) announced that on July 29, 2025, its subsidiary, China Oncology Medical Co., Ltd., received approval from the National Medical Products Administration for the oncology drug Socazolimab to be used in combination with chemotherapy for the first-line treatment of extensive-stage small cell lung cancer in mainland China
This approval is based on a Phase III, multicenter, randomized, double-blind, placebo-controlled clinical trial of Socazolimab in combination with chemotherapy for first-line treatment of extensive-stage small cell lung cancer. The trial covers 54 centers and is led by Professor Lu Shun from Shanghai Chest Hospital. The results showed that patients receiving Socazolimab treatment had a significantly improved overall survival (13.90 months) compared to the placebo group (11.58 months), and the drug did not increase the safety risks of treatment.
Socazolimab is a fully human anti-PD-L1 monoclonal antibody used for cancer treatment. To date, the drug has been approved for first-line treatment of recurrent or metastatic cervical cancer and extensive-stage small cell lung cancer. Another Phase III clinical trial for first-line treatment of persistent, recurrent, or metastatic cervical cancer is also underway

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Premier Li Qiang presided over a State Council executive meeting, reviewing and approving the "Opinions on Deepening the Implementation of the 'Artificial Intelligence +' Action." The meeting emphasized the need to promote the commercialization of artificial intelligence applications, optimize the innovation ecosystem, and strengthen technical support and talent development. DFZQ is optimistic about the user growth and commercialization process of AI products in the second half of the year, suggesting attention to domestic AI companies with overseas layouts. The US stock market performed poorly, with the Hang Seng Index ADR down 0.36%

- The State Council of China approved the "Artificial Intelligence +" initiative to enhance AI commercialization and integration across various sectors.  
- The initiative aims to foster innovation and application synergy, supported by government and state-owned enterprises through open scenarios and optimized innovation ecosystems.  
- Additionally, the report highlights a significant increase in the domestic gaming market and strong performance from companies like Apple, while also addressing economic growth in Macau and ongoing trade discussions between China and the U.S.

Zhitong

DFZQ

Zhitong Hong Kong Stock Early Knowledge | The State Council reviewed and approved the "Opinions on Deepening the Implementation of the 'Artificial Intelligence +' Action" iPhone Greater China market rebounds