Ldrobot(01236.HK), which will be listed on 11 May, opened up 116.2% to $57 on gray market. Peaking/ bottoming at $75.85/42.2, it closed at $49.8, up 88.9% or $23.44 from the listing price, on volume of 3.08 million shares and turnover of $162 million, according to PhillipMart data. Excluding handling fee, the book gain was $4,688 per board lot size of 200 shares.

Ldrobot(01236.HK), which will be listed on 11 May, opened up 152.3% to $66.5 on gray market. Peaking/ bottoming at $96/65.5, it closed at $65.5, up 148.5% or $39.14 from the listing price, on volume of 2.88 million shares and turnover of $213.98 million, according to Futu data. Excluding handling fee, the book gain was $7,828 per board lot size of 200 shares.
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GOFINTECH QUANT (00290.HK) announced that the Company entered into a non-legally binding strategic cooperation memorandum of understanding (MOU) with QureGenAI Biotech in relation to the strategic cooperation between the Company and QureGenAI Biotech.

The parties intend to carry out cooperation under a milestone-based licensing model across multiple areas, including asset licensing and acquisitions, industry funds, and quantum computing centers.
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At close, HSI dropped 232 pts or 0.9% to 26,393. HSTI dropped 18 pts or 0.4% to 5,102. HSCEI fell 30 pts or 0.3% to 8,889. Market turnover reached $279.75 billion.

Active Heavyweights:
XIAOMI (01810.HK) closed at $31.68, up 1.8%
BABA (09988.HK) closed at $139, down 1.3%
TENCENT (00700.HK) closed at $471.4, down 1.3%

HSI & HSCEI Constituents on Move:
KUAISHOU-W (01024.HK) closed at $52.95, up 9.4%
BIDU-SW (09888.HK) closed at $145.2, up 5.8%
LONGFOR (00960.HK) closed at $9.15, up 5.5%
SMIC (00981.HK) closed at $73.35, down 4.4%
HANSOH PHARMA (03692.HK) closed at $36.24, down 3.8%
POP MART (09992.HK) closed at $168.1, up 3.6%
CHINA RES LAND (01109.HK) closed at $36.76, up 3.5%, hitting new high
WUXI APPTEC (02359.HK) closed at $135.1, down 3.4%
JD LOGISTICS (02618.HK) closed at $14.59, down 3.3%
HSBC HOLDINGS (00005.HK) closed at $138.7, down 3.1%
HORIZONROBOT-W (09660.HK) closed at $7.02, down 3%
HANG LUNG PPT (00101.HK) closed at $9.05, down 3%
CHINA OVERSEAS (00688.HK) closed at $15.92, up 2.8%, hitting new high
CKH HOLDINGS (00001.HK) closed at $73.3, up 0.4%, hitting new high

HSMI & HSSI Constituents on Move:
160 HEALTH (02656.HK) closed at $23.14, up 44.3%
TRANSTHERA-B (02617.HK) closed at $55.2, up 15.8%
WELLCELL H-NEW (02477.HK) closed at $4.28, up 14.7%
MEITU (01357.HK) closed at $5.25, up 11.2%
FIH (02038.HK) closed at $28.24, up 6.7%, hitting new high
KINGBOARD HLDG (00148.HK) closed at $51.85, up 6.6%, hitting new high
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The Development Bureau (DEVB) announced that, on the approval of the Chief Executive, the Government has appointed Jeffrey Lam Kin-fung to be the Chairperson of the Board of Directors (BoD) of the Hung Shui Kiu Industry Park Company Limited (Hung Shui Kiu Industry Park Company), as well as five official and five non-official members, for a three-year term with effect from June 1, 2026.
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At midday close, HSI dropped 290 pts or 1.1% to 26,335. HSTI dropped 55 pts or 1.1% to 5,065. HSCEI fell 56 pts or 0.6% to 8,863.

Active Heavyweights:
TENCENT (00700.HK) closed at $470, down 1.6%
BABA (09988.HK) closed at $138.8, down 1.5%
XIAOMI (01810.HK) closed at $31.4, up 0.9%

HSI & HSCEI Constituents on Move:
POP MART (09992.HK) closed at $170.4, up 5.1%
SMIC (00981.HK) closed at $73.35, down 4.4%
JD HEALTH (06618.HK) closed at $44.76, down 3.9%
LONGFOR (00960.HK) closed at $9.01, up 3.9%
HANG LUNG PPT (00101.HK) closed at $8.98, down 3.8%
JD LOGISTICS (02618.HK) closed at $14.54, down 3.6%
CMOC (03993.HK) closed at $18.97, down 3.6%
BIDU-SW (09888.HK) closed at $142.1, up 3.5%
HANSOH PHARMA (03692.HK) closed at $36.38, down 3.5%
ZTO EXPRESS-W (02057.HK) closed at $194.3, down 3.2%
XINYI GLASS (00868.HK) closed at $10.27, down 3.1%
WUXI APPTEC (02359.HK) closed at $135.5, down 3.1%
CHINA RES LAND (01109.HK) closed at $36.44, up 2.6%, hitting new high
CHINA OVERSEAS (00688.HK) closed at $15.69, up 1.4%, hitting new high

HSMI & HSSI Constituents on Move:
160 HEALTH (02656.HK) closed at $22, up 37.2%
TRANSTHERA-B (02617.HK) closed at $56.5, up 18.5%
MEITU (01357.HK) closed at $5.31, up 12.5%
FIH (02038.HK) closed at $28.92, up 9.3%, hitting new high
PCCW (00008.HK) closed at $6.26, up 1.8%, hitting new high
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LEAPMOTOR (09863.HK) is targeting a bigger slice of German market by launching a leasing plan starting from just EUR49 per month for its T03 city model, in a bid to capture local market share.

The scheme has been included in new electric vehicle subsidies, with the monthly rental price about roughly half the price of the similarly sized Fiat 500.

LEAPMOTOR's marketing strategy appears to be paying off. According to the latest data from regulator KBA, LEAPMOTOR's sales in Germany mushroomed more than fourfold in April. Deliveries in 4M26 leaped 358% to 4,523 units, with the company expected to topple brands such as Smart and Honda (7267.JP).

LEAPMOTOR's share price opened down 0.13% today (8th) before rebounding. It last quoted at HKD47.64, up 1.71%, with turnover of 2.4245 million shares, involving HKD115 million.
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SJM HOLDINGS (00880.HK) opened 1.4% lower today (8th). With deeper losses in early trading, it last quoted at an intraday trough of HKD2.03, down 3.33%, with turnover of 4.5325 million shares, involving HKD9.2521 million.

SJM HOLDINGS reported 1Q26 total net revenue of HKD5.903 billion, down 21.1% YoY. Net gaming revenue was HKD5.364 billion, down 22.8% YoY. The company swung to a loss of HKD62 million, compared with a profit of HKD31 million in the same period last year. Adjusted EBITDA was HKD917 million, down 4.3% YoY, while adjusted EBITDA margin was 15.5%, up 2.7 ppts YoY.

The latest consolidated summary by this website of investment ratings and TP from four brokers is as follows:

Broker | Rating | TP (HKD)
****************************************************************************************************************
Morgan Stanley | Underweight | HKD2
Key view: 1Q results were in line, with GM improvement. Yet, Grand Lisboa Palace (GLP) continued to show weak market share, and the company's net debt further added to HKD24.8 billion, representing the highest leverage ratio among Macau gaming operators.
****************************************************************************************************************
HSBC Research | Hold | HKD2
Key view: 1Q results beat, on margin expansion and effective cost control. Management's short-term target is to restore market share to double digits, but this goal is challenging amid acute competition and renovation projects by peers.
****************************************************************************************************************
JP Morgan | Underweight | HKD2
Key view: Although 1Q results met expectations, they lacked positive surprises and are unlikely to change the long-term cautious stance. The company's leverage remains extremely high (above 8x), limiting its dividend capacity over the next 18-24 months, with a lack of near-term share price catalysts.
****************************************************************************************************************
UBS | Sell | HKD2.2
Key view: 1Q EBITDA met expectations, on the back of margin expansion driven by the absorption of customers from satellite casinos. Management is aggressively cutting costs and expects leverage to fall below 8x by end-2026.
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MEITU (01357.HK) opened 3.2% higher this morning (8th). With gains expanding in early trading, the stock peaked at HKD5.25. It last reported at HKD5.21, up 10.38%, with turnover of 97.3648 million shares, involving HKD497 million.

CLSA published a research report on MEITU, of which 1Q operating data demonstrated progress in overseas markets and helped alleviate market concerns over substitution risks posed by AI tools.

Underpinned by strong growth momentum and a reasonable valuation level, MEITU is likely to rebound earlier when investor focus shifts back to the software sector. The broker maintained its Outperform rating on MEITU.
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SMART DIGI TECH (01159.HK) announced that Zhao Wei has been appointed as the Co-Chief Executive Officer of the Company with effect from 7 May 2026 and will be responsible for leading the development and implementation of satellite operations to drive growth and innovation across the Company, coordinating and aligning the work of satellite teams, as well as implementing techniques and initiatives to operate the Company’s new satellite business.
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A former Principal Manager of the Airport Authority Hong Kong (AAHK), charged by the ICAC, was earlier sentenced to four years’ imprisonment after pleading guilty to accepting bribes of about $3.3 million and laundering several million dollars in crime proceeds regarding sub-contracts of the Three-Runway System Project (3RS Project) at the Hong Kong International Airport. The District Court yesterday (7th) ordered the confiscation of crime proceeds totalling about $6 million from the former Principal Manager.

Ricky Lee Wing-fai, 51, former Principal Manager of the AAHK, earlier pleaded guilty to two counts of conspiracy for a public servant to accept advantages, contrary to section 4(2)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance; and six counts of dealing with property known or believed to represent proceeds of an indictable offence (commonly known as money-laundering), contrary to section 25(1) of the Organized and Serious Crimes Ordinance (OSCO). He was sentenced to four years’ imprisonment at the District Court on March 24 this year.
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Biotechnology company IMPACT THERAP-B (07630.HK) will close its public offering subscription at noon today (8th). Market data showed that brokers had temporarily lent HKD105.619 billion in margin financing, representing an oversubscription of more than 1,155x.

The company proposed to issue 41.977 million H shares, with 10% allocated to the Hong Kong public offering. The offer price ranges between HKD19.75 and HKD21.75 per share, and the IPO would raise up to HKD910 million. Each board lot comprises 200 shares, with an entry fee of HKD4,393.9 per lot. Trading is expected to commence next Wednesday (13th). Goldman Sachs and CICC are acting as joint sponsors.

The listing introduced cornerstone investors including TENCENT (00700.HK), LAV, WWHCP, and First Quarter Moon OFC - Phecda Fund, with a total subscription amount of USD35.74 million.
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A then chairman of a listed company, charged by the ICAC, was sentenced yesterday (7th) to two years’ imprisonment at the District Court earlier for deceiving the company into paying about $2.4 million by inflating the first registration tax on a saloon.

Bruce Lee Chun-pong, 42, former executive director cum chairman of PF Group Holdings Limited (PF Group, now renamed as GAOYU FINANCE (08221.HK)), was earlier found guilty after trial of one count of fraud.
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METIS TECHBIO-P (07666.HK), one of the "Top Three AI Drug Discovery" companies in Mainland China, will close its Hong Kong public offering at noon today (8th). Market data showed brokers have provisionally extended HKD456.725 billion in margin financing, representing an oversubscription of more than 4,322 times.

The company proposed to issue 201 million H shares, with 5% allocated to the Hong Kong public offering, at an offer price of HKD10.5 per share, aiming to raise HKD2.11 billion. Each board lot comprises 500 shares, with an entry fee of approximately HKD5,303 per lot. The shares are expected to be listed next Wednesday (13th). Jefferies, Deutsche Bank and CITIC Securities are the joint sponsors.

Cornerstone investors in the listing include BlackRock, UBS AM Singapore, HHLRA, Deerfield, RTW Funds, Arc Avenue, Huadeng Technology, Isometry Global, Lake Bleu, Sage Partners, ICBC Wealth Management and ORIX Asia AM, with a total investment amount of USD148 million.
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The Hong Kong Economic and Trade Office in Singapore (Singapore ETO) yesterday (7th) hosted a seminar titled "Discover Northern Metropolis - Hong Kong's New Growth Engine" to introduce the Northern Metropolis to the business community in Singapore and highlight the opportunities it offers to overseas investors and enterprises.

Co-organised by Invest Hong Kong and the Hong Kong Trade Development Council, and supported by the Singapore Business Federation and the Singapore International Chamber of Commerce, the seminar attracted more than 100 participants from a wide range of sectors, including innovation and technology, logistics, real estate, etc.
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The Hong Kong Monetary Authority (HKMA) announced the launch of the CargoX Pilot Programme. Through a series of innovative projects with 21 participating banks, the HKMA will take deep dives into cargo and trade data use cases, leveraging the Commercial Data Interchange (CDI) data infrastructure, with a view to advancing trade finance digitalisation and unlocking greater trade finance availability for Hong Kong's small and medium-sized enterprises (SMEs).

In 2026 and 2027, a number of pilot projects will focus on four key areas, including integrating with key cargo and trade data platforms, combining SME trade flow and cash flow data for banks' multi-dimensional credit assessment, adopting Digital Corporate Identity to enable trusted data sharing, and enhancing connectivity with key trade corridors.
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ATV HOLDINGS (00707.HK) announced that following the resignation of independent non-executive director Tsao Hoi Ho, the number of independent non-executive directors on the board has fallen below three, resulting in a non-compliance with the minimum requirement as prescribed under Rule 3.10(1), 3.10(2) and 3.21 of the Listing Rules.

The Company is in the process of identifying suitable candidates to fill the casual vacancy on the Board for the position of independent non-executive director as soon as practicable and in any event within three months from the effective date of resignation of Tsao.

Trading in the shares of the Company on the Stock Exchange has been suspended with effect from 9:00 a.m. on 11 August 2025 and will remain suspended until further notice.
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The Electric Vehicle "One-for-One Replacement" Scheme of Hong Kong expired at the end of March and will not be extended. The Transport Department stated that it received about 13,500 applications under the Scheme in March, representing a rally of more than 3x compared with the previous monthly average.

The Transport Department indicated that about 85% of the applications had been processed as of the end of April. The remaining applications were mainly submitted in late March and are expected to be processed progressively by mid-month.
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S&P Global released a report forecasting that Hong Kong home prices will elevate by a further 3-5% in the remainder of this year, driving full-year growth to 8-10%. It also estimated that home prices will be flat to grow by up to 3% in 2027.

S&P Global noted that Hong Kong's residential market is clearly cyclical, with land bidding typically more aggressive during upcycles, and expected this recovery to be relatively mild.

In addition, investment capital may support stronger-than-expected gains in Hong Kong home prices, as investors accounted for about 30% of total purchases in recently launched new projects.

Property transaction volumes have also rebounded. Primary market transactions recovered to 20,500 last year, and the agency expected volumes to advance further this year. However, transactions may ebb back to 18,000 next year as pent-up demand is gradually absorbed.

S&P Global believed that Hong Kong's residential market may enter a phase of moderate recovery over the next two years. The traditional supply-demand imbalance may not be as pronounced as in the past, with ample new private housing supply expected over the next 3-4 years, alongside increasing subsidized housing supply.
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