Today's Focus:

Tencent Music - SW (01698.HK) achieved a Q2 net income growth of 29.6% year-on-year, and online music services continued to achieve strong growth.

Tencent Music-SW (01698.HK) announced unaudited financial results for the second quarter of 2024, with total revenue of RMB 7.16 billion and a 29.4% year-on-year growth in online music subscription revenue to RMB 3.74 billion. The number of paid online music subscribers increased by 17.7% year-on-year to 0.117 billion, with a net increase of 3.5 million compared to the previous quarter.

In the second quarter of 2024, net profit was RMB 1.79 billion, an increase of 33.1% YoY. The net profit attributable to the equity holders of the company was RMB 1.68 billion, an increase of 29.6% YoY. The net profit under non-IFRS was RMB 1.99 billion, an increase of 25.7% YoY. The net profit attributable to the equity holders of the Company under non-IFRS was RMB 1.87 billion, an increase of 22.5% YoY. Diluted earnings per American depositary share was RMB 1.07, higher than RMB 0.82 for the same period in 2023. As of June 30, 2024, the total balance of cash, cash equivalents, time deposits and short-term investments was RMB 35.03 billion (USD 4.82 billion).

Peng Jiaxin, Executive Director of Tencent Music Entertainment Group, said: "In the second quarter, online music services continued to achieve strong growth, driving the Group's performance to achieve another record high. In the first half of this year, our net increase of online music paying subscribers exceeded 10 million. At the same time, the average revenue per paying user has steadily increased, once again demonstrating our continuous breakthroughs in the field of music streaming media in China. We are fully confident in the long-term development potential of the industry and adhere to a steady pace of operation and a balanced development strategy to achieve our medium- and long-term goals. With this effective operation strategy, we have successfully responded to various business stages and changing external environments in the past, and it will continue to support our innovation and development in the future."

Liang Zhu, CEO of Tencent Music Entertainment Group, said: "We continue to innovate our platform with user-centric approach, and this quarter we have seen steady growth in online music membership and retention rate. This achievement is due to our continuously enriched membership benefits and unique music experience provided to the large cap users. We are also pleased to see that through various product upgrades and technological innovations, the user stickiness of the platform has been improved, and users' music journey has become more attractive and entertaining."

Important event

A subsidiary of CH Energy Eng (03996.HK) signed a major contract with a contract value of approximately $0.972 billion.

Dalipal Hldg (01921.HK) has successfully obtained an industrial investment license issued by the Saudi Arabian Investment Department.

Three employees died in a safety accident of Jiangxi Copper (00358.HK)'s subsidiary company.

Performance of Financial Report:

Sino Biopharm (01177.HK) achieved a net profit of approximately RMB 3.02 billion in the first half of the year, an increase of approximately 139.7% year-on-year.

The mid-term operation profit of WH Group (00288.HK) increased significantly by 78.4% to 1.14 billion US dollars, with an interim dividend of HKD 0.10.

CLP Holdings (02638.HK) achieved a net profit of HKD 0.947 billion in the first half of the year, and distributed an interim dividend of HKD 0.1594 per share.

mmg (01208.HK) had a total mid-term EBITDA of 0.779 billion USD, a year-on-year increase of 23%.

Tsaker Ne (01986.HK) announced its interim performance with about a 29.3% increase in income from battery materials sector, and a rapid decrease in asset-liability ratio.

Dongyao Pharmaceutical-B (01875.HK) achieved a net profit of 31.559 million yuan in the first half of the year, reversing its previous loss.

Changhong Jiahua (03991.HK) had a first-half revenue of approximately HKD 19.3 billion, a year-on-year increase of 13.71%.

Jinchuan Intl (02362.HK) Profit Alert: Expected first-half net profit attributable to shareholders not less than 5 million US dollars.

Huarong Int Fin (00993.HK) is expected to have a net loss attributable to equity holders of between HKD 0.04 billion and HKD 0.06 billion in the medium term.

Kaisa Prosperity (02168.HK) announces profit increase: expected net profit for the first half of the year will not be less than 50 million yuan, reversing the loss from the same period last year.

CKLife Sciences (00775.HK) achieved a net profit of HKD 1 million in the first half of the year, and is confident about improving business operations in the second half of the year.

Operating Data:

China Pacific Insurance (02601.HK) had a 2.6% year-on-year decline in original premium income of Taiping Life Insurance from January to July, while Taiping Property Insurance had a year-on-year increase of 7.5% in original premium income.

Metallurgical Corporation of China (01618.HK) signed new contracts worth CNY 750.44 billion from January to July, with a year-on-year increase of 83% in newly signed overseas contracts.

From January to July, the total premium income of za online (06060.HK) insurance was approximately 18.822 billion yuan.

Sino-Ocean GP (03377.HK): Cumulative agreed sales in January-July amounted to RMB 20.12 billion.

Yida China (03639.HK) had an equity contract sales amount of approximately 0.497 billion yuan in the first 7 months.

Medical Innovation:

Remegen (09995.HK): the phase III clinical study of TAT-CZP for the treatment of myasthenia gravis achieved the primary research endpoint.

SSY Group (02005.HK) obtained drug production registration approvals for concentrated solutions (20ml) of sodium-potassium-magnesium-calcium injections and dopasone tablets (levodopa 200mg is equivalent to 57mg benzyrazine) from the State Drug Administration.

Stock-Based Incentive:

Zai Lab (09688.HK) granted restricted share units.

Repurchase cancellation.

AIA (01299.HK) spent HKD 0.354 billion on August 13th to repurchase 6.7286 million shares.

HSBC Holdings (00005.HK) spent HKD 0.2 billion on August 12 to repurchase 3.129 million shares.

Standard Chartered (02888.HK) spent GBP 10.0124 million to repurchase 1.379 million shares on August 12.

Swire Pacific A (00019.HK) repurchased 0.443 million shares on August 13th, spending 29.035 million Hong Kong dollars.

Hang Seng Bank (00011.HK) spent HKD20.514 million on repurchasing 0.228 million shares on August 13th.

PRU (02378.HK) spent 2.539 million British pounds on repurchasing 0.398 million shares on August 12th.

China Literature (00772.HK) spent HKD 4.954 million to repurchase 0.2 million shares on August 13.