📢 Mega Earnings Wave Hits Singapore, US & Malaysia Markets!
SGX:VC2.SI:Olam Group
Olam Group posted a 573.2% y-o-y PATMI surge to $323.8M for 1HFY2025, with revenue up 49.9% to $15.3B. EBIT from continuing ops rose 85.5% to $708.7M, while including Olam Agri (discontinuing ops), EBIT hit $1.2B (+35.5%). The group is selling its remaining 64.57% stake in Olam Agri to Saudi Agricultural and Livestock Investment Company (SALIC) in two tranches over three years. It declared a 2¢ interim dividend and pledged to deleverage with US$2B post-sale.
SGX:CC3.SI:StarHub
StarHub’s 1HFY2025 earnings fell 41.7% y-o-y to $47.9M, skewed by a one-off $14.1M forfeiture for returning a 700MHz spectrum lot. Revenue rose 2.2% to $1.1B, driven by cybersecurity (+20.1%) and regional enterprise (+6.8%), but weighed by mobile (-5.4%) and entertainment (-9.1%). It maintained a 3¢ dividend and cut FY2025 EBITDA outlook to 88–92% of FY2024 as it adopts a “more aggressive” market stance.
SGX:9CI.SI:CapitaLand Investment
CapitaLand Investment’s total PATMI slipped 12% y-o-y to $260M, with revenue down 24% to $1.04B on divestments, weaker fund performance, and no one-off tax gains. Fee income-related business contributed 60% of operating PATMI. The Wingate Group Holdings acquisition and 40% stake in SC Capital Partners aim to boost private credit, lodging, and commercial growth.
US:MUST:Manulife US REIT
Manulife US REIT’s NPI dropped 29.5% y-o-y to US$30.2M, with revenue down 30.4% to US$60.4M after selling three properties. Occupancy stood at 68.4% with 125,000 sq ft leases signed (negative 10% rent reversion). It has repaid all 2025 debt and 83% of 2026 debt, reducing leverage to 57.4%.
SGX:5TP.SI:CNMC Goldmine Holdings
CNMC Goldmine achieved record US$15.8M earnings (+256.1% y-o-y) on US$52.8M revenue (+78%), with gold output up 26% to 11,811 oz and average selling price up 41.1% to US$3,197/oz. It will pay 1.5¢ dividend vs 0.4¢ a year earlier.
SGX:S63.SI:Singapore Technologies Engineering
Singapore Technologies Engineering’s earnings rose 19.7% y-o-y to $402.8M on $5.92B revenue (+7.2%). All segments contributed, with commercial aerospace (+5% revenue, +18% EBIT), defence (+12% revenue, +13% EBIT), and urban solutions flat in revenue but +33.3% EBIT. The order book hit $31.2B. Declared 4¢ dividend; divesting non-core units like Leeboy and SPTel.
SGX:EB5.SI:First Resources
First Resources’ net profit jumped 43.6% y-o-y to US$149.2M, revenue surged 47.4% to US$673.9M on higher selling prices and sales volumes. The Austindo Nusantara Jaya acquisition boosted output — FFB harvest up 23%, CPO output up 28.9%. Declared 4.5¢ dividend vs 3.5¢ prior.
⛈️ Hong Kong Battens Down Amid Red Rainstorm — Market & Corporate Buzz Unfolds
HK:00066.HK:MTR Corporation
🚆 MTR Boosts Train Services
Following the Hong Kong Observatory’s (HKO) issuance of a Red Rainstorm Warning at 11:10 AM, MTR Corporation announced it will increase train frequency as needed to support public travel amid gradually improving weather.
Hong Kong Gold Exchange (HKGX)
🥇 Gold Open Outcry Resumes
The Hong Kong Gold Exchange confirmed its Open Outcry market will resume afternoon trading after earlier weather disruptions.
HK:00700.HK:Tencent
📈 Tencent’s Strong Q2 Spurs Analyst Upgrades
Tencent’s 2Q25 revenue jumped 14.5% YoY to RMB184.5B, beating forecasts. UOB Kay Hian raised its target price (TP) to HKD736, CLSA to HKD740, HSBC to HKD690, Goldman Sachs to HKD701, Citi to HKD735, and Nomura to HKD721. Citi also reaffirmed Tencent as a sector top pick, citing robust AI-driven growth.
HK:01813.HK:KWG Group
🏚️ KWG Group Plunges Over 20% on Winding-up Petition
KWG Group’s shares crashed to HKD0.255 after revealing it faced a HKD780M debt-related liquidation petition dated 11 August 2025.
US:BTC:Bitcoin
📊 Bitcoin Rally Lifts Related Stocks
Bitcoin broke resistance levels, triggering sharp gains in related concept stocks, with Sinohope Technology surging about 17%.
HK:00006.HK:Power Assets
💡 Citi Keeps Faith in Power Assets Despite Slight Miss
Citi raised Power Assets’ TP to HKD59 despite slightly weaker 1H25 results, maintaining optimism on long-term prospects.
HK:00288.HK:WH Group
🥓 JPMorgan Lifts WH Group’s TP
JPMorgan increased WH Group’s TP to HKD9.6, maintaining an Overweight rating.
HK:2478.HK:AB&B Bio-Tech-B
🧬 AB&B Bio-Tech-B’s Volatile Gains
The newly listed biotech firm once surged nearly 10% today before retreating, still up ~2.9x over its first four days of trading.
🚀 Markets & Corporate Shake-Up Amid Analyst Calls, Earnings Surprises, and Weather Disruptions
HK:0268.HK:Kingdee International Software Group
📊 DBS Lifts Kingdee TP
DBS raised Kingdee International’s target price to HKD21.7, maintaining a Buy rating.
HK:0268.HK:Kingdee International Software Group
📊 CMBI Maintains Kingdee Buy Call
CMBI reaffirmed its Buy rating on Kingdee International, trimming its TP slightly to HKD19.2.
HK:00002.HK:CLP Holdings
⚡ UBS Downgrades CLP Holdings
UBS lowered CLP Holdings to Neutral, cutting its TP to HKD70.
HK:01910.HK:Samsonite
🧳 Samsonite Jumps on Earnings
Samsonite shares leapt over 5% post-results, with 3Q sales expected to improve quarter-on-quarter.
HK:00700.HK:Tencent
📈 UBS Names Tencent Top Pick
UBS reiterated Tencent as an industry top pick, raising its TP to HKD720.
HK:00992.HK:Lenovo Group
💻 Lenovo Slips Despite Profit Surge
Lenovo’s 1FQ net profit more than doubled and R&D spending rose 10%, but shares fell 4% in early trade.
HK:00700.HK:Tencent
🚀 Tencent Hits 4-Year High
Tencent surged ~2.4% to HKD600 post-results, marking its highest level in over four years.
HK:0388.HK:HKEX
📊 HKEX Rallies with HSI Gains
The Hang Seng Index opened 152 points higher, with HKEX soaring and Tencent up 2.4%.
HK:01316.HK:Nexteer Automotive
🚗 UBS Lifts Nexteer TP
UBS raised Nexteer’s TP to HKD8.7 after its 1H results beat expectations.
HK:01316.HK:Nexteer Automotive
🚗 Nexteer Jumps on Triple Profit
Nexteer opened 8.4% higher as 1H25 net profit tripled, prompting multiple Buy ratings from brokers.
US:BTC:Bitcoin
💰 Bitcoin Hits Record High
Bitcoin climbed over 3% to a fresh all-time high.
US:TCEHY:Tencent ADR
📈 Tencent ADR Soars in US Trade
Tencent’s ADR surged 7.4% overnight.
HK:00005.HK:HSBC Holdings
🏦 HSBC Sees No Default Risk in Stage 2 Loans
HSBC said Stage 2 loans do not imply default, expressing optimism about the banking sector’s mid-to-long-term outlook.
🌏 Global & China Corporate Pulse: Earnings Surges, Strategic Moves, and Market Highs
HK:0992.HK:Lenovo Group
💻 Lenovo’s Profit Doubles
Lenovo reported a 1FQ net profit of USD505 million, marking a 108% year-on-year increase.
HK:9868.HK:XPeng-W
🚗 XPeng G7 Deliveries Top 10,000 Units
XPeng announced G7 deliveries surpassed 10,000 units, with the G7 Ultra version making up more than half of orders.
HK:2318.HK:Ping An Insurance
🏦 Ping An Increases Stake in PSBC
Ping An Life boosted its holding in Postal Savings Bank of China H-shares to 15.05% with a HKD80.4 million purchase.
HK:2318.HK:Ping An Insurance
🏦 Ping An Raises CPIC Stake
Ping An acquired an additional stake in China Pacific Insurance H-shares for HKD55.84 million, raising its ownership to 5.04%.
HK:2388.HK:BOC Hong Kong
🏦 HKMA Intervenes in Currency Market
The Hong Kong Monetary Authority bought about HKD3.4 billion, bringing the aggregate balance below HKD55 billion.
US:DGT:Dow Jones Industrial Average
SGX:S27.SI:S&P 500
US:QQQ:Nasdaq Composite
📈 US Markets Hit Records
The Dow Jones gained 463 points, adding nearly 1,000 points in two days, while the S&P 500 and Nasdaq reached new highs.
HK:9999.HK:NetEase
📡 Temasek-Linked ST Telemedia May Cut GDS Stake
Temasek-invested ST Telemedia is reportedly considering selling a 20% voting stake in GDS-SW.
HK:0700.HK:Tencent
📊 Tencent’s Profit Climbs
Tencent posted a 15.6% year-on-year increase in 1H25 net profit and non-IFRS net profit.
📈 Earnings, Alliances, and Market Movers: Hong Kong & China Corporate Headlines
HK:0700.HK:Tencent
💹 Tencent Profit Rises
Tencent’s 2Q25 non-IFRS net profit climbed 10% year-on-year to RMB63.05 billion, near the upper end of forecasts.
HK:1038.HK:CKI Holdings
🏗️ CKI Holdings Posts Modest Growth
CKI Holdings’ 1H net profit edged up 0.9% to HKD4.348 billion; interim dividend declared at HKD0.73 per share.
HK:0006.HK:Power Assets
⚡ Power Assets Sees Slight Profit Increase
Power Assets’ 1H net profit rose 1.2% to HKD3.042 billion; interim dividend maintained at HKD0.78 per share.
HK:0241.HK:Alibaba Health
HK:1801.HK:Innovent Biologics
🤝 Alibaba Health & Innovent Bio Form Alliance
Alibaba Health and Innovent Biologics announced a strategic partnership in disease management and digital marketing.
HK:9988.HK:Alibaba
🌍 Alibaba.com Expands Global Reach
Alibaba.com introduced an “Overseas Stock” mode covering the US and 27 European countries.
HK:9988.HK:Alibaba
☁️ Alibaba Cloud Secures Olympic Deal
Alibaba Cloud will provide cloud computing and AI services for the 2026 Dakar Youth Olympic Games in Africa.
HK:0666.HK:Everg Services
🏢 Everg Services Jumps on Sale Talks
Everg Services surged over 7% amid reports that Evergrande liquidators have hired bankers to seek potential buyers.
HK:9863.HK:Li Auto
🚗 Li Auto Targets Record Deliveries
CEO Li Xiang aims for over 8,000 “Li i8” deliveries in September, with a challenge goal of 10,000 units.
HK:1098.HK:Road King Infrastructure
🏚️ Road King Faces Default Risk
Road King Infrastructure shares tumbled ~6% on reports it may become the first Hong Kong constructor to default on bonds.
HK:1810.HK:Xiaomi-W
📱 Xiaomi Reclaims SEA Smartphone Crown
Xiaomi regained the top smartphone market position in Southeast Asia after four years, according to Canalys.
💹 Analyst Moves and Market Action: Hong Kong Heavyweights in Focus
HK:0268.HK:Kingdee International Software Group
📊 BOCI Trims Kingdee TP
BOCI lowered Kingdee International’s target price to HKD18.08 but noted signs of improving profitability.
HK:1810.HK:Xiaomi-W
📱 BOCI Keeps Xiaomi as Top Pick
BOCI maintained its Buy rating on Xiaomi-W, trimming the TP to HKD74.4.
HK:1810.HK:Xiaomi-W
📱 Brokers Bullish on Xiaomi Earnings
Market analysts expect Xiaomi-W’s 2Q adjusted net profit to rise about 65% year-on-year, with focus on smartphone gross margins and EV production guidance.
HK:0322.HK:Tingyi
🥤 Goldman Sachs Cuts Tingyi TP
Goldman Sachs reduced Tingyi’s TP to HKD13.8 after management scaled back full-year sales guidance.
HK:0322.HK:Tingyi
🥤 CMS Upgrades Tingyi
China Merchants Securities upgraded Tingyi to Overweight, slightly raising its TP to HKD13.6.
HK:1478.HK:Q Technology
📷 CLSA Lifts Q Tech TP
CLSA increased Q Technology’s TP to HKD15.7 on strong interim results and an earnings forecast upgrade.
HK:1478.HK:Q Technology
📷 CMBI Bullish on Q Tech Non-Mobile Growth
CMBI hiked Q Technology’s TP to HKD14.5, citing optimism for growth in its non-mobile business.
HK:0027.HK:Galaxy Entertainment
🎰 Macquarie Raises Galaxy TP
Macquarie lifted Galaxy Entertainment’s TP to HKD55.6, maintaining an Outperform rating.
HK:09979.HK:FWD Group
🏦 Goldman Sachs Starts FWD Coverage
Goldman Sachs initiated coverage on FWD with a Buy rating and a TP of HKD44.
📊 Analyst Upgrades, Target Price Moves & Strategic Shifts Drive Hong Kong Market Buzz
HK:0027.HK:Galaxy Entertainment
🎰 Goldman Sachs Raises Galaxy Entertainment TP
Goldman Sachs lifted Galaxy Entertainment’s target price to HKD50.1 after in-line Q2 results.
HK:0027.HK:Galaxy Entertainment
🎰 UOB Kay Hian Maintains Buy on Galaxy Entertainment
UOB Kay Hian kept its Buy rating on Galaxy Entertainment, increasing the TP to HKD45.
HK:0772.HK:China Literature
📚 UBS Bullish on China Literature
UBS raised China Literature’s TP to HKD40 with a Buy rating.
HK:0772.HK:China Literature
📚 Jefferies Slightly Lifts China Literature TP
Jefferies nudged China Literature’s TP to HKD36, expecting IP opportunities to unlock.
HK:0288.HK:WH Group
🥩 UBS Hikes WH Group TP
UBS raised WH Group’s TP to HKD8.5, keeping its Buy rating.
HK:1810.HK:Xiaomi-W
📱 JPMorgan Sees Limited Xiaomi Growth
JPMorgan projected Xiaomi’s 2025 smartphone revenue to grow only 5%, keeping a Neutral stance.
HK:0322.HK:Tingyi
🥤 CLSA Trims Tingyi TP
CLSA cut Tingyi’s TP to HKD11.6 while maintaining a Hold rating.
HK:0175.HK:Geely Automobile
🚗 Deutsche Bank Positive on Geely
Deutsche Bank lifted Geely Auto’s TP to HKD25, forecasting Galaxy A7 monthly sales to exceed 10,000 units.
HK:0762.HK:China Unicom
📡 UBS Raises China Unicom TP
UBS increased China Unicom’s TP to HKD11.6, reiterating its Buy rating.
HK:0004.HK:Wharf Holdings
🏢 HSBC Sees No Short-term Catalyst for Wharf
HSBC maintained a Hold rating on Wharf Holdings, citing a lack of near-term re-rating drivers.
HK:1810.HK:Xiaomi-W
📱 Xiaomi Strengthens Africa Push
Xiaomi reportedly appointed several executives to accelerate its investment in the African market.
HK:1024.HK:Kuaishou Technology
🎥 Nomura Bullish on Kuaishou
Nomura lifted Kuaishou-W’s TP to HKD86, expecting 2Q non-GAAP operating profit to grow 17% year-on-year.
Thank you
