--- title: "Zhitong Hong Kong Stocks Early Knowledge | Overnight COMEX gold futures for the current month fell nearly 5%. Central Bank: Firmly maintain the stable operation of financial markets such as stocks, bonds, and foreign exchange" type: "News" locale: "en" url: "https://longbridge.com/en/news/279859189.md" description: "The People's Bank of China emphasized at the expanded meeting on March 18 that it will firmly maintain the stable operation of financial markets such as stocks, bonds, and foreign exchange, and promote the resolution of debt risks for financing platform companies. The meeting also mentioned the establishment of a liquidity support mechanism to address risks faced by non-bank financial institutions in specific scenarios. Meanwhile, the three major U.S. stock indices closed lower overnight, and COMEX gold futures for the current month fell nearly 5%" datetime: "2026-03-19T23:38:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279859189.md) - [en](https://longbridge.com/en/news/279859189.md) - [zh-HK](https://longbridge.com/zh-HK/news/279859189.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/279859189.md) | [繁體中文](https://longbridge.com/zh-HK/news/279859189.md) # Zhitong Hong Kong Stocks Early Knowledge | Overnight COMEX gold futures for the current month fell nearly 5%. Central Bank: Firmly maintain the stable operation of financial markets such as stocks, bonds, and foreign exchange **【Today's Headlines】** **Central Bank: Firmly Maintain the Stable Operation of Financial Markets such as Stocks, Bonds, and Foreign Exchange** On March 18, the Party Committee of the People's Bank of China held an expanded meeting to deeply study General Secretary Xi Jinping's important speech during the National Two Sessions and the spirit of the National Two Sessions, implement the requirements of the State Council's 11th plenary meeting, and research and deploy specific implementation measures. It mentioned the continuous promotion of financial support for the resolution of debt risks of financing platform companies. Adhere to market-oriented and rule-of-law principles, and actively and prudently handle risks of small and medium-sized financial institutions. Fully leverage the central bank's macro-prudential management and financial stability maintenance functions, and firmly maintain the stable operation of financial markets such as stocks, bonds, and foreign exchange. Research and establish a liquidity support mechanism for non-bank financial institutions under specific scenarios. Work with relevant departments to continue a high-pressure crackdown on illegal financial activities. **【Market Outlook】** **Overnight U.S. Stocks** **Three Major Indices Closed Lower** **COMEX Gold Futures Monthly Continuous Contract Fell** **Nearly 5%** Overnight U.S. stocks closed, with the Dow Jones Industrial Average down 203.72 points from the previous trading day, closing at 46,021.43 points, a decrease of 0.44%; the S&P 500 index fell 18.21 points, closing at 6,606.49 points, a decrease of 0.27%; the Nasdaq Composite Index fell 61.73 points, closing at 22,090.69 points, a decrease of 0.28%. Large technology stocks had mixed performance, with AMD rising nearly 3%. Gold mining stocks fell, with Newmont down nearly 7% and Harmony Gold down over 6%. Optical communication concept stocks rose broadly, with Lumentum up over 10% and Applied Optoelectronics up over 10%; storage stocks showed mixed trends, with Seagate Technology up over 6%, Western Digital up nearly 4%, and Micron Technology down over 3%. Most popular Chinese concept stocks fell, with the Nasdaq Golden Dragon China Index down 1%. Canadian Solar fell nearly 27%, and Alibaba fell over 7%. The Hang Seng Index ADR fell, closing at 25,355.97 points, down 144.61 points or 0.57% compared to the Hong Kong close. New York Mercantile Exchange WTI crude oil futures monthly continuous contract fell by $0.87, closing at $94.59 per barrel, a decrease of 0.91%. COMEX gold futures monthly continuous contract fell by $244.30, a decrease of 4.99%, closing at $4,651.90 per ounce. **【Hot Topics Ahead】** **Alibaba-W (09988) Releases Third Quarter Results** **Net Profit Attributable to Parent Company 16.322 Billion Yuan, Down 67% Year-on-Year, Alibaba Cloud Revenue Strongly Grows 36%** Alibaba released its third quarter results for the three months ending December 31, 2025, with revenue of 284.843 billion yuan (same unit), a year-on-year increase of 2%; operating profit of 10.645 billion yuan, a year-on-year decrease of 74%; net profit attributable to ordinary shareholders of 16.322 billion yuan, a year-on-year decrease of 67%; diluted earnings per American depositary share of 5.93 yuan. **China Duty Free Group (01880): Estimated Cost of Acquiring DFS Greater China Travel Retail Business Related Equity and Assets is $294 Million** China Duty Free Group announced that its wholly-owned subsidiary, China Duty Free International Co., Ltd., has completed the payment for the acquisition, with an estimated cost of $294 million. Due to the failure to meet the conditions stipulated in the Framework Agreement, all parties have agreed to exclude the DFS Hong Kong Guangdong Road store from this acquisition, and the parties have completed the delivery as agreed. The final cost of this acquisition will be subject to customary adjustments based on the final delivery accounts. **Zijin Mining (02899) subsidiary Hainan Lithium Industry increases capital to 7.8 billion** According to Tianyancha App, Zijin Lithium Industry Co., Ltd. recently underwent a business change, increasing its registered capital from 7.5 billion RMB to 7.8 billion RMB. The company was established in September 2021, with Lan Jianming as the legal representative. Its business scope includes the manufacturing and sales of new energy power equipment, online energy monitoring technology research and development, online energy measurement technology research and development, emerging energy technology research and development, and the manufacturing of environmental protection specialized equipment. Shareholder information shows that the company is wholly owned by Zijin Mining's Zijin International Holdings Co., Ltd. **China Nonferrous Metal Industry (01763): Signs equity transfer agreement to further expand non-destructive testing business** Zhitong Finance APP reported that China Nonferrous Metal Industry announced that on March 19, its subsidiary Chengdu China Nuclear High-Tech Isotope Co., Ltd. (China Nuclear High-Tech) signed an Equity Transfer Agreement to acquire 51% of Hunan Huifeng Engineering Testing Co., Ltd. (Huifeng Testing). Upon completion of the transaction, Huifeng Testing will become a controlling subsidiary of the company and will be included in the consolidated financial statements. **Horizon Robotics-W (09660) 2025 financial report: Revenue increased by 57.7%, mid-to-high-end intelligent driving chip shipments achieved nearly 5-fold growth** On March 19, Hong Kong stock core intelligent driving technology company Horizon Robotics-W (09660, referred to as "Horizon") released its 2025 performance announcement. The company's annual revenue reached 3.76 billion RMB, a year-on-year increase of 57.7%; gross profit reached 2.43 billion RMB, with a gross profit margin maintained at a high level of 64.5%, of which the gross profit margin for the automotive business reached 67.2%. **Li Ning (02331): 2025 net profit of 2.936 billion RMB, a year-on-year increase of 3.2%** Li Ning announced that in 2025, revenue was 29.598 billion RMB, a year-on-year increase of 3.2%; net profit was 2.936 billion RMB. The board of directors proposed a final dividend of 23.36 cents per share, with an annual dividend of 56.95 cents per share, and a payout ratio of 50%. **MGM China (02282) releases annual performance: Shareholders' profit of 5.075 billion HKD, a year-on-year increase of 10.24%, final dividend of 0.353 HKD per share** MGM China announced its annual performance for the year ending December 31, 2025, with the group achieving entertainment revenue of 30.472 billion HKD, a year-on-year increase of 11.69%; the annual profit attributable to shareholders was 5.075 billion HKD, a year-on-year increase of 10.24%; basic earnings per share were 133.5 HKD cents, with a proposed final dividend of 0.353 HKD per share. For the year ending December 31, 2025, the overall gaming market share reached a historical high of 16.1%, compared to 15.8% last year **Sungrow Power Supply Co., Ltd. (00580) Announces 2025 Results, Profit Attributable to Parent Company Owners Approximately HKD 138 Million, Year-on-Year Growth of 34.5%** Sungrow Power Supply Co., Ltd. announced its 2025 results, with revenue increasing approximately 40.0% to about HKD 2.255 billion, gross profit increasing approximately 9.1% to about HKD 568 million, and gross margin decreasing from approximately 32.3% to about 25.2%. Profit attributable to parent company owners was approximately HKD 138 million, a year-on-year increase of 34.5%; basic earnings per share were HKD 0.086, and a final dividend of HKD 0.01 per share is proposed. **China Resources Cement Holdings Limited (01313) Announces 2025 Results, Profit Attributable to Owners Approximately HKD 479 Million, Year-on-Year Growth of 127.3%** China Resources Cement Holdings Limited announced its 2025 results, with revenue of approximately HKD 21.055 billion, a year-on-year decrease of 8.6%; profit attributable to owners was approximately HKD 479 million, a year-on-year increase of 127.3%; basic earnings per share were HKD 0.069, and a final dividend of HKD 0.024 per share is proposed. **Zai Tong (00062) Announces 2025 Results, Net Profit Approximately HKD 398 Million, Year-on-Year Growth of 112.53%** Zai Tong announced its 2025 results, with revenue of approximately HKD 8.443 billion, a year-on-year increase of 2.77%; net profit was approximately HKD 398 million, a year-on-year increase of 112.53%; earnings per share were HKD 0.77, and a final dividend of HKD 0.5 per share is proposed. **New Stock Dark Market | Guanghe Technology (01989) Dark Market Closed Up Over 35%, Profit of HKD 2,522 per Lot** According to Zhitong Finance APP, Guanghe Technology will be listed in Hong Kong on March 20 (Friday). As of the close, dark market trading showed a price of HKD 97.10, up 35.09% from the offering price of HKD 71.88, with 100 shares per lot, earning HKD 2,522 per lot excluding fees. **ZhongAn Online P&C Insurance Co., Ltd. (06060) Releases Annual Results, Net Profit Attributable to Parent Company HKD 1.102 Billion, Year-on-Year Growth of 82.55%** ZhongAn Online P&C Insurance Co., Ltd. released its annual results for the year ending December 31, 2025, with insurance service revenue of HKD 33.485 billion (RMB, the same below), a year-on-year increase of 5.48%; net profit attributable to parent company shareholders was HKD 1.102 billion, a year-on-year increase of 82.55%; basic earnings per share were HKD 0.7. **Bank of China Aviation Leasing Co., Ltd. (02588) Releases 2025 Annual Results, Net Profit USD 787 Million, Year-on-Year Decrease of 14.8%** Bank of China Aviation Leasing Co., Ltd. released its annual results for the year ending December 31, 2025, with operating revenue and other income of USD 2.619 billion, a year-on-year increase of 2.4%; net profit was USD 787 million, a year-on-year decrease of 14.8%; basic earnings per share were USD 1.13. **\[Stock Highlights\]** **China Xuyang Group (01907): The Largest Producer of Methanol from Coke Oven Gas in China** The South Pars gas field in Iran (supplying about 40% of natural gas) and the Assaluyeh methanol hub have been attacked by the US and Israel, causing most production capacity to halt, with repairs expected to take weeks to months. The Iranian Revolutionary Guard has warned of strikes on Saudi, UAE, and Qatari oil facilities as the conflict escalates. According to Yide Futures, Assaluyeh, as a major methanol production hub in Iran, houses 13.2 million tons of the total 17.16 million tons of Iran's capacity, close to 80% of the national total, while the South Pars gas field is the only source of natural gas for Assaluyeh's methanol production According to public information, China Xuyang Group, as the largest producer of methanol from coke oven gas in China, currently operates a methanol annual production capacity of 600,000 tons, which is one of the core links in the company's "methanol-ammonia" industrial chain. 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