Star Plus Legend's Surge and Expressway's Cash: HK's Eclectic Mix

Hong Kong's eclectic mix of unclassified stocks is seeing a surprising amount of action this week. I'm told that as liquidity rotates away from the largest tech names, everything from biopharma to infrastructure and niche IP operators is catching bids and revealing major business developments.

Star Plus Legend (2408.HK)

The new retail operator, deeply tied to the Jay Chou intellectual property, has been a massive outperformer recently. The stock skyrocketed over 160% during mid-July trading, with intraday turnover expanding to over HKD 8B. I'm told the company is actively executing a playbook to diversify its IP reliance. This includes taking a minority stake in the Bird's Nest stadium operator in Beijing and partnering with Unitree Robotics to develop companion robotic dogs. According to people familiar with the matter, these moves, along with an investment in the South Korean agency Galaxy Corporation, are designed to expand its footprint far beyond its core bulletproof coffee business into broader consumer tech and live entertainment venues.

Jiangsu Expressway (0177.HK)

In a volatile macro environment, the infrastructure heavyweight has easily outperformed most of its peers in the toll-road sector by offering reliable yields. Recent exchange filings show that Jiangsu Yunsheng Capital Management increased its stake by adding 12.49M shares on the open market for roughly HKD 120M, bumping its total holding from 13.00% to 14.02%. I understand that this kind of massive capital infusion underscores institutional confidence in the company's ability to maintain high dividend payouts through economic cycles. The company recently finalized its 2025 dividend distribution of 0.49 yuan per share—a level of certainty that is highly sought after right now.

Sihuan Pharmaceutical (0460.HK)

Sihuan Pharmaceutical posted gains of over 12% earlier this week. The key catalyst: clinical research results for a freeze-dried collagen product from its aesthetic medicine division were just published in an international SCI journal. Furthermore, a new drug application for its subsidiary Xuanzhu Biopharmaceutical's anaprazole sodium was officially accepted by China's NMPA at the end of June. I'm told that management is highly optimistic about 2026, expecting the steady cash flow from its legacy generic drug business to continue funding these long-term bets in frontier oncology, metabolic treatments, and medical aesthetics.

Hypebeast (3625.HK)

The streetwear media and e-commerce platform just delivered a long-awaited turnaround for its full fiscal year 2026. While total revenue dipped 13% year-over-year to HKD 582.2M amid a tougher consumer backdrop, net income swung back into the black, reaching HKD 17.6M compared to a net loss in fiscal 2025. The company's profit margin has recovered to 3.0%. The board is scheduled to hold its annual general meeting on August 20, where it will finalize a final dividend payout of HKD 0.0018 per share. Moving forward, the market will be watching how well it can integrate its global media assets with its direct retail channels.

Also

• Zhejiang Shibao (2522.HK): The auto parts supplier's steer-by-wire products are now being applied in heavy unmanned mining trucks, positioning it well for new national steering standards.
• COSCO SHIPPING Ports (0881.HK): The port logistics giant reported an 8.9% year-over-year jump in Q1 2026 total throughput, reaching roughly 38.9M TEUs.
• Shangri-La Asia (2587.HK): The hospitality group recently passed its ex-dividend date for a payout of HKD 0.10 per share.
• Guangdong Investment (0270.HK): The water resources and property conglomerate officially appointed Deloitte as its independent auditor during its late June general meeting.
• Wharf Holdings (1937.HK): The property group continues to anchor its mainland operations around flagship commercial and hospitality assets, relying on properties like the Changsha IFS for steady rental income.
• CSOP HSCEI Daily 2x Leveraged Product (7288.HK): This leveraged ETF has trended downward recently, amplifying the broader weakness in the Hang Seng China Enterprises Index.

This article does not constitute investment advice.