SGX:B12.SI:Combine Will International Holdings
Combine Will International Holdings (B12.SI), through subsidiary Dongguan Combine Will Tengda Technology (DCWTT), will acquire 15,712.44 sqm of land in Tianraobu village, Hengli town, Dongguan, China, from the Tianraobu Village Joint Stock Economic Cooperative (JSEC) for RMB12.4 million (US$2.2 million). The group plans to build a manufacturing facility and service center, including one of its toy production plants.
The acquisition, funded internally, includes RMB2.5 million in earnest money already paid. The remainder is due by July 22. The land, transferred for 50 years, must be developed by October 12, 2025, with construction completed by July 12, 2027, or DCWTT faces penalties of 1% of the transfer price daily for delays. Non-payment exceeding 60 days could void the deal, with JSEC retaining the deposit.
SGX:T41.SI:TeleChoice International
TeleChoice International (T41.SI) has officially been removed from the SGX watchlist after four consecutive years of losses and a challenging pandemic period. CEO Pauline Wong, who took the helm in October 2023, credits the turnaround to diversified growth, cost restructuring, and robust performance in all business divisions.
For FY2024, the company reported a net profit of S$4.2 million on revenue of S$380.4 million, reversing FY2023’s S$11.5 million loss. The Personal Communications Solutions (PCS) segment — primarily distributing Samsung and Honor devices — saw revenue surge 115.9% y-o-y to S$241.4 million, accounting for half of group sales.
TeleChoice also secured a S$500 million, three-year logistics contract with U Mobile (Malaysia), covering procurement, warehousing, and distribution across 1,002 Malaysian locations.
The Information and Communications Technology (ICT) unit narrowed losses to S$1.2 million (from S$7.9 million) following a major restructuring, while Network Engineering Services (NES) revenue rose 7.5% y-o-y to S$53.3 million, with growth in Indonesia via NexWave Technologies.
With 56% of revenue now from Singapore, 34% from Malaysia, and 10% from Indonesia, TeleChoice has reinstated dividends — pledging at least 30% of net profit distribution — and its share price has risen 87.5% YTD to S$0.15 as of July 16. Wong confirms a formal request to SGX to remove the firm from its watchlist, emphasizing sustainable, long-term growth and confidence in its five-year transformation plan toward FY2029.
AI-Driven Market Buzz: Geely’s Zeekr Boost, Baidu Downgrade, JD & Alibaba in Food War, Xiaomi Tops Investor Picks
HK:00175.HK:GEELY AUTO
CMSI raised its target price for Geely Auto (00175.HK) to HKD32, saying its merger with Zeekr will help sharpen core resource focus.
HK:0163.HK:EMPEROR INTERNATIONAL
Emperor International (0163.HK) is reportedly revising its debt restructuring plan, seeking to extend its bank loan terms.
HK:01888.HK:KB LAMINATES
HK:0148.HK:KINGBOARD HOLDINGS
KB Laminates (01888.HK) plunged as much as 14% before recovering slightly, after Kingboard Holdings (0148.HK) raised HKD785 million through a share placement.
HK:09888.HK:BIDU-SW (Baidu)
Multiple brokerages adjusted views on Baidu (09888.HK):
-
BofA Securities cut its 2Q core revenue forecast but kept a Buy rating.
-
HSBC Research lowered its target price to HKD74.1, maintaining Hold, citing AI-driven ad headwinds.
-
Daiwa reiterated Outperform, expecting 2.7% YoY revenue growth.
-
CICC forecast lower ad revenue, set target at HKD96 with Outperform.
HK:00001.HK:CKH HOLDINGS
CKH Holdings (00001.HK) announced its Canadian energy affiliate Cenovus will start the Narrows Lake Expansion Project, bolstering its upstream operations.
Private: SUN LIFE
Sun Life injected new capital into Bowtie, completing a Series C financing round, reinforcing its presence in Asia’s insurtech space.
HK:09988.HK:Alibaba (BABA)
HK:09618.HK:JD-SW
UBS highlighted that food delivery subsidy wars could peak in August, with Alibaba (09988.HK) and JD-SW (09618.HK) remaining attractively valued despite cost pressures.
Separately, JD-SW denied involvement in alleged “zero-dollar purchase” practices tied to the subsidy war.
HK:00590.HK:LUK FOOK HOLDINGS
Luk Fook (00590.HK) gained over 3% as first-quarter retail revenue showed signs of recovery.
HK:01810.HK:XIAOMI-W
South Korean investors continued favoring Xiaomi-W (01810.HK), purchasing a net USD170 million year-to-date, the most among Hong Kong tech plays.
HK:09866.HK:NIO
HK:3115.HK:HANGSENG INDEX (HSI)
The Hang Seng Index surged 258 points at the open, with tech stocks rallying. NIO (09866.HK) led gains, jumping 7%.
HK:03320.HK:CHINARES PHARMA
China Resources Pharmaceutical (03320.HK) plans to establish a joint-venture innovation investment fund to drive R&D initiatives.
HK:03933.HK:UNITED LAB
United Laboratories (03933.HK) opened 3.6% lower after a 7.9% discounted share placement, raising HKD2.17 billion net.
HK:03800.HK:GCL TECH
GCL Technology (03800.HK) jumped 14.5% after announcing plans with CPICIM to explore tokenization solutions for real-world assets (RWA).
Private: FWD GROUP
Moody’s upgraded FWD’s credit rating to ‘Baa1’, revising its outlook to Stable.
HK:09997.HK:KANGJI MEDICAL
Trading in Kangji Medical (09997.HK) was halted this morning, pending announcements.
HK:01398.HK:CHINA COSCO SHIPPING
HK:00001.HK:CKH HOLDINGS
Chinese regulators reportedly pushed China COSCO Shipping (01398.HK) to join CKH Holdings’ port asset sale deal, bolstering COSCO’s logistics footprint.
🚀 Market Movers & Corporate Buzz: XL2CSOPCOIN Leads ETF Surge, BYD & Xiaomi Stir Speculation, TSMC Target Price Raised
HK:07711.HK:XL2CSOPCOIN
HK:09711.HK:XL2CSOPCOIN-U
HK:09046.HK:CAM ETH-U
HK:09179.HK:HGI ETH-U
HK:03009.HK:BOS HSK ETH
Hong Kong ETFs saw major gains, with XL2CSOPCOIN (07711.HK) jumping 13.1% to HK$300.6, topping the midday gainers. XL2CSOPCOIN-U (09711.HK) rose 11.6% to US$37.8, while CAM ETH-U (09046.HK), HGI ETH-U (09179.HK), and BOS HSK ETH (03009.HK) each climbed between 4.4% and 4.6%.
HK:01810.HK:XIAOMI-W
HK:01211.HK:BYD COMPANY
SZ:002594.SZ:BYD COMPANY
Rumors swirl in China as videos circulate of BYD CEO Wang Chuanfu touring Xiaomi-W’s (01810.HK) auto plant with founder Lei Jun. Speculation rises about possible collaboration as Wang inspects the facility.
HK:3115.HK:HANGSENG INDEX (HSI)
US:DGT:Dow Jones Industrial Average
US:QQQ:Nasdaq Composite
The Hang Seng Index surged 177 points (0.7%) to 24,676 at midday, with HSTI up 41 points (0.8%) at 5,490 and HSCEI up 69 points (0.8%) to 8,922.
Key movers:
-
HK:09988.HK:Alibaba (BABA) +2.2% to $115
-
HK:02318.HK:Ping An Insurance +2.1% to $52.6
-
HK:03690.HK:Meituan +1.4% to $127.2
-
HK:00700.HK:Tencent +0.6% to $520
-
HK:01810.HK:Xiaomi continued momentum.
TW:2330.TT:TSMC
US:TSM:TSMC
Nomura raised its Taiwan stock target for TSMC (2330.TT / TSM) to TWD1,310 (from TWD1,280), keeping a Buy rating. The brokerage expects TSMC’s Q3 2025 revenue to grow 6–10% QoQ, outpacing consensus.
Separately, BofA Securities also lifted TSMC’s US target price to US$290, citing AI-driven growth and tech leadership, while Citi boosted its Taiwan target to TWD1,400.
HK:02015.HK:LI AUTO-W
Citi forecasts Li Auto-W’s (02015.HK) share rebound to continue, while CLSA noted BEV i8 order data exceeded expectations, boosting sentiment.
HK:00968.HK:XINYI SOLAR
HK:06865.HK:FLAT GLASS
BofA Securities downgraded Xinyi Solar (00968.HK) and Flat Glass (06865.HK) to Underperform, citing sector headwinds.
HK:09926.HK:AKESO
HK:01801.HK:INNOVENT BIO
HK:600276.HK:HENGRUI PHARMA
JPMorgan remains bullish on China’s healthcare sector, favoring Akeso (09926.HK), Innovent Bio (01801.HK), and Hengrui Pharma (600276.HK) amid a strong rebound this year.
AI-Fueled Growth and Strategic Moves: Food Empire Teams with AirAsia, Keppel DC Reit Secures ‘Buy’ Call Amid Data Centre Boom
SGX:F03.SI:Food Empire
KL:5099.KL:Capital A (AirAsia)
Food Empire (F03.SI) has partnered with AirAsia’s Santan Food Services, a unit of Capital A (5099.KL), to launch a new line of ready-to-drink beverages, starting with Vietnamese iced coffee. The drinks will be sold on AirAsia flights and through regional retail channels under the Santan brand.
AirAsia co-founder and CEO Tony Fernandes said the collaboration reflects Southeast Asia’s culture and heritage, while Food Empire’s executive chairman Tan Wang Cheow said the partnership aligns with the company’s strategy to meet modern consumer preferences, including lower-sugar options.
SGX:AJBU.SI:Keppel DC Reit
Maybank Securities initiated a “Buy” rating on Keppel DC Reit (AJBU.SI) with a target price of S$2.40, citing strong tailwinds from cloud migration, AI adoption, and rising data generation. The Asia-Pacific pure-play data centre Reit, with 24 data centres across 10 countries and S$5 billion in assets, achieved 96% occupancy and a 14.2% growth in distributable income in 1Q2025.
Analyst Krishna Guha highlighted expected global data centre demand growth of 17–19% CAGR from 2024–2028, with Europe and Asia tracking similar trends. Keppel DC Reit, with 30.2% gearing and S$886 million debt headroom, is poised for expansion despite risks like rising power costs, carbon regulations, and interest rate volatility.
The Reit, re-included in the Straits Times Index (STI) on June 23, 2025, trades at 1.4x price-to-book with a yield spread of 230 basis points, supported by rent escalations and acquisition-led growth, according to Maybank’s projections.
Thank you
