🚨 Big Moves in Tech, Finance & Energy: From Xiaomi’s Growth to Alibaba’s AI Push

HK:1810.HK:XIAOMI-W
Lu Weibing, president of Xiaomi, announced that Xiaomi shipped over 5.4 million air conditioners in 2Q25, marking its third straight quarter of 50%+ sales growth. He emphasized prioritizing growth in the large appliance segment over competition.

HK:1810.HK:XIAOMI-W
Xiaomi’s AI Lab unveiled its new ZipVoice series of Text-to-Speech models, leveraging Flow Matching architecture. These models include ZipVoice (zero-sample single-speaker) and ZipVoice-Dialog (zero-sample dialogue TTS).

SH:601838.SH:Bank of Chengdu
SH:600926.SH:Bank of Hangzhou
HK:0998.HK:CITIC Bank
HK:0939.HK:China Construction Bank (CCB)
SH:600036.SH:China Merchants Bank (CMB)
HK:1398.HK:ICBC
UBS issued Buy ratings on six major Chinese banks, including Bank of Chengdu, Bank of Hangzhou, CITIC Bank, CCB, CMB, and ICBC, citing strong fundamentals.

HK:6683.HK:STARPLUS LEGEND
StarPlus Legend revealed that its robot dog, developed with Unitree Robotics, will debut at the Shanghai Tourism Festival parade starting September 13.

HK:2899.HK:Zijin Mining
Zijin Mining is preparing a US$3 billion Hong Kong IPO for its gold mining arm, Zijin Gold International, with investor engagement set for next week.

HK:0700.HK:Tencent
Tencent denied rumors that it hired ex-OpenAI researcher Shunyu Yao with a salary exceeding RMB100 million.

HK:3690.HK:MEITUAN-W
Meituan-W introduced its first AI agent product, Xiao Mei, now available for public testing.

HK:1209.HK:China Resources Land
HK:6666.HK:Evergrande Services
Shares of Evergrande Services pared gains to 20% after China Resources Land dismissed rumors of an acquisition.

HK:9966.HK:Alphamab Oncology (ALPHAMAB-B)
Alphamab-B surged 11.3% after China’s drug regulator accepted its marketing application for a new gastric cancer treatment.

HK:3690.HK:Meituan-W
HK:9988.HK:Alibaba
HK:2318.HK:Ping An Insurance
HK:1177.HK:Sino Biopharm
The Hang Seng Index jumped 453 points at open, driven by gains in Alibaba (+6%), biotech, and tech stocks.

HK:9988.HK:Alibaba
Alibaba priced its Zero Coupon Convertible Senior Notes, sending shares up nearly 8%.

HK:9988.HK:Alibaba
Alibaba also launched its upgraded Qwen3-Next AI model, boosting its position in the AI race.

HK:883.HK:CNOOC
CNOOC set a new record in onshore oil & gas well drilling speed, underscoring efficiency gains in exploration.

HK:2020.HK:ANTA Sports
Anta Sports announced plans to open 1,000 new stores across Southeast Asia over the next three years.

HK:0005.HK:HSBC Holdings
HSBC Holdings repurchased 2.97 million shares, totaling HKD314 million.

HK:9618.HK:JD-SW
JD.com faces scrutiny from the French government, which requested more details on its planned acquisition of Germany’s Ceconomy.

US:OpenAI:OpenAI
US:NVDA:Nvidia
Reports suggest that the CEOs of OpenAI and Nvidia will join Donald Trump in the UK, with plans to announce a multi-billion-dollar data center investment.

🚧 Construction Boom Spurs Fundraising Frenzy on SGX

SGX:5WF.SI:ISOTeam
ISOTeam is raising $10 million to build a “full-fledged drone workforce” for façade washing and painting. The fundraise includes 86.2 million new shares at 8.1 cents each ($7M) and a convertible bond of 32.9 million shares at 9.1 cents ($3M).
Backed by shareholder Nippon Paint (Singapore), ISOTeam says its AI-enabled drones are now in final approval and commercial trial stages after 2.5 years of R&D.

SGX:ER0.SI:KSH Holdings
KSH Holdings raised $8.67 million on Aug 21 from the placement of nearly 29 million treasury shares at 30.5 cents each. Investors included ICH Capital, GinkoAGT Global Growth Fund, and Lion Global Investors.
Since the placement, KSH shares climbed to 41 cents by Sept 10, rewarding early backers.

SGX:544.SI:Ever Glory United
On Sept 2, Ever Glory United raised $17.05 million from placing 31 million shares at 55 cents each. Proceeds will fund working capital and the acquisition of Guthrie Engineering.
The round drew investors such as ICH Capital, GinkoAGT Global Growth Fund, Lion Global Investors, Asdew Acquisitions, Azure Capital, and Amova Asset Management (formerly Nikko AM).
Shares closed at 66 cents on Sept 10, putting investors in the money.

SGX:1E3.SI:Sanli Environmental
In July, Sanli Environmental placed 33.3 million shares at 12 cents each, raising $4 million. Investors included Lion Global Investors and Asdew Acquisitions.
Since then, shares have surged about 160% to 31 cents on Sept 11.

SGX to Launch New Index Tracking Companies Beyond STI

Singapore, Sept 12 – The Singapore Exchange (SGX) will roll out a new index tracking companies outside the 30-member Straits Times Index (STI), said Chee Hong Tat, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore (MAS), at the Singapore Institute of Directors’ (SID) conference.

Chee explained that while the STI covers only a slice of listed firms, investor appetite for the next tier of large and liquid companies is growing, driven in part by the Equity Market Development Programme (EQDP). The new index will allow investors to monitor how these firms evolve through business transformation, governance improvements and stronger capital management.

He added that Singapore hopes to develop more indices in areas such as corporate governance and sustainability, creating “positive momentum for the entire market”.

Investors Want More Than Earnings

Chee noted that today’s investors are more sophisticated. Strong revenue and earnings remain essential, but “often insufficient”. Investors now expect visibility on capital allocation, long-term strategy, and management’s commitment to value creation.

To capture attention, companies must move beyond financial reporting and craft a compelling growth narrative — showing how present actions translate into future success.

CEOs Must Lead the Story

Chee stressed that CEOs should be the face of listed companies, citing examples such as Microsoft’s Bill Gates, Nvidia’s Jensen Huang, DBS’s former CEO Piyush Gupta and successor Tan Su Shan.

But leadership cannot rest solely on CEOs. CFOs and board directors also play critical roles, going beyond accurate reporting to translate numbers into persuasive narratives and strengthen investor confidence.

Communication as a Strategic Edge

Chee urged companies to engage regularly with investors, refine and share their strategic plans, and make growth stories more accessible — aligning with practices in overseas markets.

While some firms worry about legal risks in disclosing outlooks, Chee said the MAS will review its regulatory framework to balance open communication with market integrity.

“This is an important part of building trust and earning stakeholder confidence,” he said.

🌏 CapitaLand’s Record China REIT IPO & IREIT’s Legal Battle in Germany

SGX:CLI.SI:CapitaLand Investment
SGX:AU8U.SI:CapitaLand China Trust
SGX:CLI.SI:CapitaLand Development (unlisted arm of CLI)
CapitaLand Commercial C-REIT (CLCR) drew overwhelming demand in its Shanghai IPO, with 254.5 times subscription coverage from offline institutional investors and 535.2 times from retail investors. The offering of 400 million units at RMB5.718 each raised RMB2.29 billion (~US$409 million), above initial estimates.
Joint strategic investors CapitaLand Investment (CLI), CapitaLand China Trust (CLCT) and CapitaLand Development (CLD) will hold 20% of IPO units, while cornerstone investors took 40.11%. CLCR’s assets include CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha, with CLI continuing as sponsor and asset manager. Trading is expected by month-end under code 508091, marking China’s first international-sponsored retail C-REIT.

SGX:UD1U.SI:IREIT Global
IREIT Global reported that its subsidiaries received a payment order from Deutsche Rentenversicherung Bund (DRV) over its Berlin Campus property. The dispute stems from a prior EUR15.5 million settlement in 2023 for dilapidation costs. DRV now demands EUR8.4 million in repayment, alleging the lease provisions on reinstatement were invalid.
The claim equals 1.6% of NAV and 11.1% of FY2024 revenue, but IREIT maintains confidence, saying its subsidiaries have a “high chance of successfully defending” against the claim. The court has not yet examined the case, and IREIT has until Oct 10 to file objections.

Thank you