Morning News The giant's performance is eye-catching!; However, the "accelerated burning of money" has divided the market; the United States and Iran have exchanged fierce rhetoric, and the expectation of interest rate hikes has rekindled
The performance of the giant is outstanding! However, "accelerating cash burning" has divided the market; the United States and Iran have exchanged harsh words, and interest rate hike expectations have been rekindled; Baidu has applied to the Hong Kong Stock Exchange for major conversion.
Summary: The performance of the giant is outstanding! However, "accelerating cash burning" has divided the market; the United States and Iran have exchanged harsh words, and interest rate hike expectations have been rekindled; Baidu has applied to the Hong Kong Stock Exchange for major conversion. U.S. stock market: The three major U.S. stock indexes closed down across the board on July 22. As of the close, the Dow Jones Industrial Average fell 6.06 points from the previous trading day to close at 52218.58 points, a decrease of 0.01%; the S&P 500 stock index fell 10.24 points to close at 7498.96 points, a decrease of 0.14%; the Nasdaq Composite Index fell 146.31 points to close at 25690.9 points, a decrease of 0.57%. Most large technology stocks fell. SpaceX fell by more than 6%, Intel fell by more than 2%, Microsoft fell by nearly 2%, Micron Technology and Amazon fell by more than 1%, AMD rose by more than 1%, and Nvidia rose by more than 2%. Mining stocks generally rose, with Vale, Alcoa, and Goldfields rising by more than 4%, and Southern Copper and McMoRan Copper and Gold rising by nearly 4%. Computer hardware stocks strengthened, with Super Micro Computer rising nearly 20%. Dell Technologies rose more than 9%. Most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling 1.80%. NetEase fell by more than 6%, Bilibili fell by more than 3%, Xunlei fell by more than 2%, and Alibaba fell by more than 1%. European stock market: All three major European stock indexes rose on July 22. The Financial Times 100-stock average price index of the London stock market closed at 10,716.97 points, an increase of 131.06 points or 1.24% from the previous trading day; the CAC40 index of the Paris stock market in France closed at 843 7.89 points, an increase of 74.75 points or 0.89% from the previous trading day; the DAX index of the Frankfurt stock market in Germany closed at 25155.41 points, an increase of 144.06 points or 0.58% from the previous trading day. Commodity market: International oil prices rose on July 22. As of the close of the day, the continuous contract of WTI crude oil futures on the New York Mercantile Exchange rose by $2.14 to close at $86.48 per barrel, an increase of 2.54%. The continuous contract of COMEX gold futures for the month rose by US$58.60, or 1.44%, to US$4135.0 per ounce. The continuous contract of COMEX silver futures for the month rose by US$0.93, or 1.57%, to US$60.035 per ounce. Spot gold rose $52.28, or 1.28%, to $4,130.09 per ounce. Spot silver rose $0.93, or 1.58%, to $59.73 per ounce. The United States and Iran exchange harsh words, rekindling expectations of interest rate hikes Earlier on the 22nd, U.S. President Trump posted on social media that from now on, as long as Iran fires on ships in the Strait of Hormuz, regardless of whether it uses missiles, rockets, drones, or other devices or weapons, the United States will bomb and destroy a bridge or power plant in Iran. Subsequently, Iranian military sources stated that Iran has a firm will in exercising its sovereignty over the Strait of Hormuz and will never allow the Strait of Hormuz to become a threat tool against Iran again. Affected by this news, the settlement price of international crude oil futures closed sharply higher, both hitting the highest level in more than a month. Traders have been keeping a close eye on the oil market, fearing it could drive up consumer prices, which could ultimately lead to the Federal Reserve raising interest rates. CME Group's "Fed Watch" tool shows that the probability of the bank raising interest rates at least once before the end of the September meeting is close to 80%. Trump: U.S. federal government is expected to "shut down" in September On July 22, local time, US President Trump mentioned in a speech in Georgia that there would be a federal government "shutdown" in September due to differences between Republicans and Democrats on spending priorities. On July 21, local time, the Republican-controlled U.S. House of Representatives passed a short-term appropriation bill that will provide funding for federal government agencies until December 4 to avoid a "shutdown" of the government due to depletion of funds before the November midterm elections. This temporary funding measure is also known as the "continuing funding resolution." Once passed, the bill will be submitted to the Senate for consideration.
Senate Republican leaders are currently negotiating with Democrats and considering proposing their own short-term funding package. If Congress fails to pass an appropriations bill in time, funding for most federal agencies and programs will expire at midnight on September 30, the end of the fiscal year. Technology giants increase their data center business, and OpenAI is exposed to significantly increase its computing power expenditure forecast The latest news on Wednesday night showed that artificial intelligence giant OpenAI’s computing power spending ambitions have expanded. OpenAI has raised its forecast for computing power spending by 2030 to $750 billion from about $600 billion earlier this year, according to media reports citing people familiar with the matter. The increase reflects the company's new agreements with cloud computing providers and its efforts to strengthen the construction of its own data centers as the "Stargate" data center project is not progressing. As the latest manifestation of this dynamic, OpenAI has just announced that it will invest $20 billion in Effingham County, Georgia, to launch a data center called "Project Camellia." In addition, SpaceX is considering expanding its data center business in Texas. Microsoft has once again stepped up its European AI footprint and signed a "billion-dollar" data center cooperation agreement with Mistral. Anthropic will begin purchasing up to 2 gigawatts of AMD's latest generation chips in the first half of 2027. The yen's exchange rate decline is hard to stop, and the Bank of Japan is reported to be willing to speed up the pace of interest rate hikes The latest news shows that as the continued weakness of the yen increases the upward risk of inflation, Bank of Japan officials are open to "raising interest rates at a faster pace than economists generally expect." Bank of Japan officials are aware that many market watchers believe the central bank will raise interest rates only about every six months, but they are willing to move earlier than that schedule if circumstances demand it because they do not have a fixed rate path, people familiar with the matter said. The market now generally expects that the Bank of Japan will keep interest rates unchanged at its monetary policy meeting on July 31. Most central bank watchers expect the next rate hike to be most likely in December, after raising the benchmark rate to 1% last month, the highest level in 31 years. Ban Trump from issuing coins! U.S. Senate to vote on Clarity Act as soon as next week Republican senators on Wednesday updated the Clarity Act, which would ban the president and other federal officials from issuing or sponsoring cryptocurrencies and other digital assets. Republicans need to win over the support of at least seven Democratic congressmen in the Senate to cross the 60-vote threshold. Trump has previously made billions of dollars in profits from encryption-related businesses, which is a core disagreement in the negotiations. Senators are likely to vote on the bill in the next two weeks before heading into the August recess. Negative cash flow alarm sounding? Alphabet reports strong earnings After the market close on Wednesday Eastern Time, Alphabet, the parent company of Google-C (GOOG.US) / Google-A (GOOGL.US), announced its second-quarter financial results. The financial report showed that the company's second-quarter revenue and profit performance were better than expected, with the Google Cloud division achieving the strongest growth in recent quarters. However, Google further significantly raised its full-year expenditure forecast, predicting that capital expenditures this year will be between US$195 billion and US$205 billion, driven by strong demand for artificial intelligence. The revised guidance reflects the company's accelerating expansion of AI computing power and efforts to obtain more revenue from cloud computing customers. This outlook may further intensify investor scrutiny of Alphabet's artificial intelligence investments. What worries the market even more is that the company has experienced negative cash flow for the first time in its history. The company's stock price fell in after-hours trading, falling by more than 3% as of press time. Tesla’s Q2 revenue exceeds expectations, but profits fade, capital expenditures fall short of target, cash flow turns negative
Tesla's (TSLA.US) profit fell short of Wall Street expectations despite strong second-quarter vehicle sales. This is undoubtedly a setback for Tesla, which is accelerating the deployment of new businesses such as robotics, autonomous driving and artificial intelligence. After the market closed on Wednesday, Tesla released its second-quarter financial results on its official website. The company's quarterly revenue was US$28.236 billion, higher than market expectations of US$25.71 billion, a year-on-year increase of 26%; the automotive division's revenue was US$20.516 billion, a year-on-year increase of 23%. Analysts believe that Tesla's profit decline was mainly affected by the decline in the average selling price of cars. In order to stimulate demand, Tesla has launched a number of car purchase discounts and also discontinued the higher-priced Model S and Model X models. IBM's second-quarter revenue grew only 1%, and it lowered its full-year revenue forecast. A sharp decline in mainframe sales dragged down its performance. IBM Corp (IBM.US) reported second-quarter revenue of US$17.2 billion, a year-on-year increase of about 1%, and adjusted earnings per share of US$2.93, both lower than expected. The full-year revenue growth forecast was lowered from "more than 5%" to "4% to 5%." Z series mainframe revenue plummeted 42% year-on-year, dragging down the infrastructure business to decline by 7%. Although IBM is actively promoting AI productivity tools, including new code tool Bob, to fill traditional business gaps, growth failed to offset the mainframe drag. The software business is relatively stable, with revenue increasing by 5% year-on-year. IBM has previously been regarded as one of the beneficiaries of enterprise AI applications. This performance warning shows that there is still revenue pressure during the transition period from traditional IT infrastructure to AI. Since the company issued a profit warning a week ago, IBM's stock price rose by about 5% after hours. Apple comprehensively upgrades its Mac product line, betting on AI demand to drive a new wave of replacements Apple (AAPL.US) plans to launch new versions of all its Mac products from this fall to next year: the first OLED touch MacBook Pro will be launched soon, and the M6 chip will power the entry-level models. MacBook Air will be updated early next year, and the OLED version will be launched as soon as 2028. MacBook Neo will upgrade the chip and expand the memory. Mac mini and Mac Studio will also launch new models. Wall Street bank launches Broadcom, Anthropic $35 billion AI infrastructure financing package deal According to Bloomberg, major Wall Street banks have begun buying and selling Broadcom (AVGO.US) and the initial part of the US$35 billion financing package for the expansion of Anthropic AI infrastructure. The scale of private credit market participation is one of the largest in recent years. This transaction marks another historical record in the scale of AI infrastructure financing, reflecting the high enthusiasm of institutional investors for the expansion of AI computing power. Broadcom, as a core supplier of AI chips and network equipment, this financing will further strengthen its strategic layout with Anthropic in the field of AI computing power, and constitute a positive signal for semiconductor and data center equipment companies in the upstream of the entire AI industry chain. AMD bets on Anthropic for the first time: invests up to $5 billion and locks in tens of billions of dollars in AI server orders According to media reports on Wednesday, AMD has signed a multi-billion-dollar AI server purchase agreement with Anthropic, further enhancing AMD's industry competitiveness and at the same time AMD will invest up to $5 billion in the latter. Affected by this news, AMD's stock price rose in pre-market trading, but then quickly gave up the gains. Despite the lackluster stock price response, this multi-year collaboration remains one of AMD's most important enterprise-level collaborations to date. According to the agreement, Anthropic will purchase up to 2 gigawatts of AI servers equipped with AMD's latest generation Instinct MI450 chips starting in the first half of 2027. Industry executives said that 1 gigawatt of AI computing power is enough to meet the power needs of about 750,000 U.S. households, and the cost of building such a scale of AI infrastructure is about $50 billion. Texas Instruments’ second-quarter revenue was US$5.46 billion, higher than market expectations
Texas Instruments (TXN.US) reported second-quarter revenue of US$5.46 billion after the market closed, beating analysts' expectations of US$5.24 billion. The company expects revenue in the third fiscal quarter to be US$5.65 billion to US$6.15 billion, while the market expects US$5.62 billion. Chairman, President and CEO Haviv Ilan said: "Revenue increased 13% sequentially and 23% year-on-year, with industrial, data center and automotive sectors leading broad growth." Texas Instruments returned a total of approximately $5.8 billion to shareholders through repurchases and dividends this fiscal year. A cash dividend of US$1.42 per share was announced. ServiceNow’s Q2 revenue in 2026 is US$3.987 billion ServiceNow (NOW.US) announced after the close that Q2 2026 revenue was US$3.987 billion, a year-on-year increase of 24%; adjusted EPS was US$0.9. Subscription revenue was US$3.877 billion, a year-on-year increase of 24.5%. ServiceNow Inc. expects revenue in the next fiscal quarter to be US$3.975 billion to US$3.980 billion. Bill McDermott, Chairman and CEO of ServiceNow, said: "ServiceNow's outstanding second quarter results solidify our position as the fastest-growing enterprise software and cybersecurity company. The company's solid foundation has allowed us to operate with the Rule of 56 and are on track to move towards the Rule of 60. With our AI Control Tower as the market standard, ServiceNow AI agent deployments have grown ninefold in just nine months. Our $29 billion in remaining performance obligations has been driven by longer customer commitments and surging demand from our partner ecosystem. We are what we say we are: a defining company in its early stages." SpaceX Falcon Heavy booster completes additional pre-launch testing SpaceX (SPCX.US) is currently preparing to launch the starship as early as July 23 (Thursday) local time. The current weather conditions are still an important factor affecting launch. Baidu: Application has been submitted to the Hong Kong Stock Exchange for major conversion Baidu Group-SW (09888.HK) announced on the Hong Kong Stock Exchange that it has submitted an application to the Hong Kong Stock Exchange for a major conversion and has received confirmation of receipt from the Hong Kong Stock Exchange. The effective date is expected to be within this year, but is subject to approval by the Hong Kong Stock Exchange. After the primary conversion takes effect, the company will have dual primary listings on the Hong Kong Stock Exchange in Hong Kong and the Nasdaq in the United States. Southbound Fund Tracking｜Net purchases exceeded HK$7.5 billion to increase positions in Huahong Hongli and Zhipu and continued to flow out of Tencent Data shows that the transaction volume of southbound funds yesterday was approximately HK$149.477 billion, a significant increase of approximately HK$18 billion from the previous day; approximately 47.79% of the total transaction volume of the Hang Seng Index, accounting for more than 40%, and has continued to rise in the short term. The Hong Kong stock market fell back and adjusted yesterday, with the Hang Seng Index falling 0.95% throughout the day. Southbound funds bucked the trend and made net purchases of approximately HK$7.517 billion. Among them, the net inflow of Shanghai-Hong Kong Stock Connect was approximately HK$3.838 billion, while the net inflow of Shenzhen-Hong Kong Stock Connect was approximately HK$3.679 billion. In terms of trend, southbound funds are still dominated by inflows recently, with a cumulative net purchase of approximately HK$49.54 billion in the past 10 trading days. In terms of individual stocks, exchange data showed that southbound funds yesterday Substantial net purchases: Huahong Grace (01347.HK) 1.205 billion Hong Kong dollars; Zhipu (02513.HK) 362 million Hong Kong dollars. Significant net outflows: Tencent Holdings (00700.HK) HK$2.765 billion; Alibaba-W (09988.HK) HK$2.759 billion; Kingboard Laminated Panels (01888.HK) HK$820 million; Semiconductor Manufacturing International Corporation (00981.HK) HK$455 million; YOFC Optical Fiber and Cable (06869.HK) HK$328 million. Huahong Grace fell 4.15% yesterday. The capital reduced its holdings by 16.5 million shares in the first five days, but has continued to return in the past two days. Zhipu fell 3.61% yesterday, with funds adding 3.42 million shares in the first five days, and short-term inflows slowed down. Tencent Holdings fell 7.05% yesterday. Funds added 5.92 million shares in the first five days, but there have been continuous outflows in the past two days. Alibaba-W fell 2.91% yesterday. Funds added 30.05 million shares in the first five days, and short-term inflows slowed down.
Kingboard Laminated Board fell 15.28% yesterday. Funds reduced their holdings by 62.67 million shares in the past 5 days, continuing the short-term outflow trend. SMIC fell 3.44% yesterday. Funds reduced their holdings by 25.06 million shares in the past five days, and short-term outflows accelerated again. YOFC Optical Fiber and Cable fell 10.28% yesterday, with funds adding 3.98 million shares in the past 5 days, and the short-term trend is unclear. Note: Due to the T+2 settlement of the Hong Kong Stock Exchange, the actual positions are the data of the last 5 trading days as of two trading days ago. Yunzhisheng (09678.HK): Revenue in the first half of the year is expected to be 530-580 million yuan, a year-on-year increase of 31% to 43%. The newly expanded large model Token during the period directly calls the business. Newborn City Technology (09911.HK): It is expected to achieve revenue of approximately US$595 million to US$615 million in the first half of the year, a year-on-year increase of approximately 34.3% to 38.8%. Mainly due to the joint contribution of social business and innovative business, the average monthly activity of social business reached approximately 35.833 million, a year-on-year increase of approximately 7.5%. Cathay Pacific Airways (00293.HK): It is estimated that the consolidated profit attributable to shareholders in the first half of the year will be approximately HK$6.0-6.5 billion, with both passenger and cargo volume increasing by 9% year-on-year. Horizon Robotics-W (09660.HK): Plans to issue US$450 million in convertible bonds.
Senate Republican leaders are currently negotiating with Democrats and considering proposing their own short-term funding package. If Congress fails to pass an appropriations bill in time, funding for most federal agencies and programs will expire at midnight on September 30, the end of the fiscal year. Technology giants increase their data center business, and OpenAI is exposed to significantly increase its computing power expenditure forecast The latest news on Wednesday night showed that artificial intelligence giant OpenAI’s computing power spending ambitions have expanded. OpenAI has raised its forecast for computing power spending by 2030 to $750 billion from about $600 billion earlier this year, according to media reports citing people familiar with the matter. The increase reflects the company's new agreements with cloud computing providers and its efforts to strengthen the construction of its own data centers as the "Stargate" data center project is not progressing. As the latest manifestation of this dynamic, OpenAI has just announced that it will invest $20 billion in Effingham County, Georgia, to launch a data center called "Project Camellia." In addition, SpaceX is considering expanding its data center business in Texas. Microsoft has once again stepped up its European AI footprint and signed a "billion-dollar" data center cooperation agreement with Mistral. Anthropic will begin purchasing up to 2 gigawatts of AMD's latest generation chips in the first half of 2027. The yen's exchange rate decline is hard to stop, and the Bank of Japan is reported to be willing to speed up the pace of interest rate hikes The latest news shows that as the continued weakness of the yen increases the upward risk of inflation, Bank of Japan officials are open to "raising interest rates at a faster pace than economists generally expect." Bank of Japan officials are aware that many market watchers believe the central bank will raise interest rates only about every six months, but they are willing to move earlier than that schedule if circumstances demand it because they do not have a fixed rate path, people familiar with the matter said. The market now generally expects that the Bank of Japan will keep interest rates unchanged at its monetary policy meeting on July 31. Most central bank watchers expect the next rate hike to be most likely in December, after raising the benchmark rate to 1% last month, the highest level in 31 years. Ban Trump from issuing coins! U.S. Senate to vote on Clarity Act as soon as next week Republican senators on Wednesday updated the Clarity Act, which would ban the president and other federal officials from issuing or sponsoring cryptocurrencies and other digital assets. Republicans need to win over the support of at least seven Democratic congressmen in the Senate to cross the 60-vote threshold. Trump has previously made billions of dollars in profits from encryption-related businesses, which is a core disagreement in the negotiations. Senators are likely to vote on the bill in the next two weeks before heading into the August recess. Negative cash flow alarm sounding? Alphabet reports strong earnings After the market close on Wednesday Eastern Time, Alphabet, the parent company of Google-C (GOOG.US) / Google-A (GOOGL.US), announced its second-quarter financial results. The financial report showed that the company's second-quarter revenue and profit performance were better than expected, with the Google Cloud division achieving the strongest growth in recent quarters. However, Google further significantly raised its full-year expenditure forecast, predicting that capital expenditures this year will be between US$195 billion and US$205 billion, driven by strong demand for artificial intelligence. The revised guidance reflects the company's accelerating expansion of AI computing power and efforts to obtain more revenue from cloud computing customers. This outlook may further intensify investor scrutiny of Alphabet's artificial intelligence investments. What worries the market even more is that the company has experienced negative cash flow for the first time in its history. The company's stock price fell in after-hours trading, falling by more than 3% as of press time. Tesla’s Q2 revenue exceeds expectations, but profits fade, capital expenditures fall short of target, cash flow turns negative
Tesla's (TSLA.US) profit fell short of Wall Street expectations despite strong second-quarter vehicle sales. This is undoubtedly a setback for Tesla, which is accelerating the deployment of new businesses such as robotics, autonomous driving and artificial intelligence. After the market closed on Wednesday, Tesla released its second-quarter financial results on its official website. The company's quarterly revenue was US$28.236 billion, higher than market expectations of US$25.71 billion, a year-on-year increase of 26%; the automotive division's revenue was US$20.516 billion, a year-on-year increase of 23%. Analysts believe that Tesla's profit decline was mainly affected by the decline in the average selling price of cars. In order to stimulate demand, Tesla has launched a number of car purchase discounts and also discontinued the higher-priced Model S and Model X models. IBM's second-quarter revenue grew only 1%, and it lowered its full-year revenue forecast. A sharp decline in mainframe sales dragged down its performance. IBM Corp (IBM.US) reported second-quarter revenue of US$17.2 billion, a year-on-year increase of about 1%, and adjusted earnings per share of US$2.93, both lower than expected. The full-year revenue growth forecast was lowered from "more than 5%" to "4% to 5%." Z series mainframe revenue plummeted 42% year-on-year, dragging down the infrastructure business to decline by 7%. Although IBM is actively promoting AI productivity tools, including new code tool Bob, to fill traditional business gaps, growth failed to offset the mainframe drag. The software business is relatively stable, with revenue increasing by 5% year-on-year. IBM has previously been regarded as one of the beneficiaries of enterprise AI applications. This performance warning shows that there is still revenue pressure during the transition period from traditional IT infrastructure to AI. Since the company issued a profit warning a week ago, IBM's stock price rose by about 5% after hours. Apple comprehensively upgrades its Mac product line, betting on AI demand to drive a new wave of replacements Apple (AAPL.US) plans to launch new versions of all its Mac products from this fall to next year: the first OLED touch MacBook Pro will be launched soon, and the M6 chip will power the entry-level models. MacBook Air will be updated early next year, and the OLED version will be launched as soon as 2028. MacBook Neo will upgrade the chip and expand the memory. Mac mini and Mac Studio will also launch new models. Wall Street bank launches Broadcom, Anthropic $35 billion AI infrastructure financing package deal According to Bloomberg, major Wall Street banks have begun buying and selling Broadcom (AVGO.US) and the initial part of the US$35 billion financing package for the expansion of Anthropic AI infrastructure. The scale of private credit market participation is one of the largest in recent years. This transaction marks another historical record in the scale of AI infrastructure financing, reflecting the high enthusiasm of institutional investors for the expansion of AI computing power. Broadcom, as a core supplier of AI chips and network equipment, this financing will further strengthen its strategic layout with Anthropic in the field of AI computing power, and constitute a positive signal for semiconductor and data center equipment companies in the upstream of the entire AI industry chain. AMD bets on Anthropic for the first time: invests up to $5 billion and locks in tens of billions of dollars in AI server orders According to media reports on Wednesday, AMD has signed a multi-billion-dollar AI server purchase agreement with Anthropic, further enhancing AMD's industry competitiveness and at the same time AMD will invest up to $5 billion in the latter. Affected by this news, AMD's stock price rose in pre-market trading, but then quickly gave up the gains. Despite the lackluster stock price response, this multi-year collaboration remains one of AMD's most important enterprise-level collaborations to date. According to the agreement, Anthropic will purchase up to 2 gigawatts of AI servers equipped with AMD's latest generation Instinct MI450 chips starting in the first half of 2027. Industry executives said that 1 gigawatt of AI computing power is enough to meet the power needs of about 750,000 U.S. households, and the cost of building such a scale of AI infrastructure is about $50 billion. Texas Instruments’ second-quarter revenue was US$5.46 billion, higher than market expectations
Texas Instruments (TXN.US) reported second-quarter revenue of US$5.46 billion after the market closed, beating analysts' expectations of US$5.24 billion. The company expects revenue in the third fiscal quarter to be US$5.65 billion to US$6.15 billion, while the market expects US$5.62 billion. Chairman, President and CEO Haviv Ilan said: "Revenue increased 13% sequentially and 23% year-on-year, with industrial, data center and automotive sectors leading broad growth." Texas Instruments returned a total of approximately $5.8 billion to shareholders through repurchases and dividends this fiscal year. A cash dividend of US$1.42 per share was announced. ServiceNow’s Q2 revenue in 2026 is US$3.987 billion ServiceNow (NOW.US) announced after the close that Q2 2026 revenue was US$3.987 billion, a year-on-year increase of 24%; adjusted EPS was US$0.9. Subscription revenue was US$3.877 billion, a year-on-year increase of 24.5%. ServiceNow Inc. expects revenue in the next fiscal quarter to be US$3.975 billion to US$3.980 billion. Bill McDermott, Chairman and CEO of ServiceNow, said: "ServiceNow's outstanding second quarter results solidify our position as the fastest-growing enterprise software and cybersecurity company. The company's solid foundation has allowed us to operate with the Rule of 56 and are on track to move towards the Rule of 60. With our AI Control Tower as the market standard, ServiceNow AI agent deployments have grown ninefold in just nine months. Our $29 billion in remaining performance obligations has been driven by longer customer commitments and surging demand from our partner ecosystem. We are what we say we are: a defining company in its early stages." SpaceX Falcon Heavy booster completes additional pre-launch testing SpaceX (SPCX.US) is currently preparing to launch the starship as early as July 23 (Thursday) local time. The current weather conditions are still an important factor affecting launch. Baidu: Application has been submitted to the Hong Kong Stock Exchange for major conversion Baidu Group-SW (09888.HK) announced on the Hong Kong Stock Exchange that it has submitted an application to the Hong Kong Stock Exchange for a major conversion and has received confirmation of receipt from the Hong Kong Stock Exchange. The effective date is expected to be within this year, but is subject to approval by the Hong Kong Stock Exchange. After the primary conversion takes effect, the company will have dual primary listings on the Hong Kong Stock Exchange in Hong Kong and the Nasdaq in the United States. Southbound Fund Tracking｜Net purchases exceeded HK$7.5 billion to increase positions in Huahong Hongli and Zhipu and continued to flow out of Tencent Data shows that the transaction volume of southbound funds yesterday was approximately HK$149.477 billion, a significant increase of approximately HK$18 billion from the previous day; approximately 47.79% of the total transaction volume of the Hang Seng Index, accounting for more than 40%, and has continued to rise in the short term. The Hong Kong stock market fell back and adjusted yesterday, with the Hang Seng Index falling 0.95% throughout the day. Southbound funds bucked the trend and made net purchases of approximately HK$7.517 billion. Among them, the net inflow of Shanghai-Hong Kong Stock Connect was approximately HK$3.838 billion, while the net inflow of Shenzhen-Hong Kong Stock Connect was approximately HK$3.679 billion. In terms of trend, southbound funds are still dominated by inflows recently, with a cumulative net purchase of approximately HK$49.54 billion in the past 10 trading days. In terms of individual stocks, exchange data showed that southbound funds yesterday Substantial net purchases: Huahong Grace (01347.HK) 1.205 billion Hong Kong dollars; Zhipu (02513.HK) 362 million Hong Kong dollars. Significant net outflows: Tencent Holdings (00700.HK) HK$2.765 billion; Alibaba-W (09988.HK) HK$2.759 billion; Kingboard Laminated Panels (01888.HK) HK$820 million; Semiconductor Manufacturing International Corporation (00981.HK) HK$455 million; YOFC Optical Fiber and Cable (06869.HK) HK$328 million. Huahong Grace fell 4.15% yesterday. The capital reduced its holdings by 16.5 million shares in the first five days, but has continued to return in the past two days. Zhipu fell 3.61% yesterday, with funds adding 3.42 million shares in the first five days, and short-term inflows slowed down. Tencent Holdings fell 7.05% yesterday. Funds added 5.92 million shares in the first five days, but there have been continuous outflows in the past two days. Alibaba-W fell 2.91% yesterday. Funds added 30.05 million shares in the first five days, and short-term inflows slowed down.
Kingboard Laminated Board fell 15.28% yesterday. Funds reduced their holdings by 62.67 million shares in the past 5 days, continuing the short-term outflow trend. SMIC fell 3.44% yesterday. Funds reduced their holdings by 25.06 million shares in the past five days, and short-term outflows accelerated again. YOFC Optical Fiber and Cable fell 10.28% yesterday, with funds adding 3.98 million shares in the past 5 days, and the short-term trend is unclear. Note: Due to the T+2 settlement of the Hong Kong Stock Exchange, the actual positions are the data of the last 5 trading days as of two trading days ago. Yunzhisheng (09678.HK): Revenue in the first half of the year is expected to be 530-580 million yuan, a year-on-year increase of 31% to 43%. The newly expanded large model Token during the period directly calls the business. Newborn City Technology (09911.HK): It is expected to achieve revenue of approximately US$595 million to US$615 million in the first half of the year, a year-on-year increase of approximately 34.3% to 38.8%. Mainly due to the joint contribution of social business and innovative business, the average monthly activity of social business reached approximately 35.833 million, a year-on-year increase of approximately 7.5%. Cathay Pacific Airways (00293.HK): It is estimated that the consolidated profit attributable to shareholders in the first half of the year will be approximately HK$6.0-6.5 billion, with both passenger and cargo volume increasing by 9% year-on-year. Horizon Robotics-W (09660.HK): Plans to issue US$450 million in convertible bonds.