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Real-time News
On July 7th, Sinopec Oilfield Service (01033.HK) announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary won the bid for the first section (279 km) of the Heihe-Daqing-Changling natural gas pipeline, a key national "14th Five-Year Plan" energy infrastructure project. The contract value is RMB 1.772 billion, accounting for 2.2% of the companys estimated revenue in 2025. This project is a crucial section of the southern extension of the China-Russia East Route natural gas pipeline, responding to the national deployment to accelerate the construction of oil and gas pipeline networks and ensure energy supply, highlighting the companys rare engineering capabilities in the long-distance pipeline EPC field. It should be noted that the contract has not yet been formally signed, and there is uncertainty regarding its execution.On July 7th, Tencent Holdings (00700.HK) officially launched the iOS version of its AI application generation and inspiration co-creation platform, "Toast." This marks Toasts full coverage of both mobile platforms (iOS and Android). Since its launch in May this year, Toast-generated applications have served nearly 30,000 users, with nearly 50,000 applications created on the platform. It is reported that in August, Toast will fully open its one-stop listing service, commercial component capabilities, and more API capabilities to the developer ecosystem, helping more users and developers with ideas move from "application generation" to "application listing" and continuous operation.July 7th - Duoniu Technology (01961.HK) announced that its board of directors has stated that, as of the date of this announcement, the company and its auditors have not yet reached an agreement on commencing the audit of the Groups consolidated financial statements for the year ended December 31, 2025. Therefore, it is expected that more time will be needed to publish the 2025 annual results. Despite the suspension of trading in the companys shares, the Group continues its business operations as usual. Trading in the companys shares will remain suspended until further notice.On July 7th, Beijing Urban Construction Design Group Co., Ltd. (01599.HK) issued a voluntary announcement dated July 7, 2026, detailing the winning bids for significant projects in the second quarter of 2026 (the three months ended June 30, 2026). The announcement shows that the Groups total winning bids for the period amounted to approximately RMB 959 million (unaudited), of which RMB 414 million were in the surveying, design, and consulting sector, and RMB 545 million were in the engineering general contracting sector.July 7th - Gareth Leather, senior Asia economist at Capital Economics, stated that Asian central banks are unlikely to rush to reverse their recent interest rate hikes given the escalating risks of El Niño to food price increases. Central banks responded aggressively to the earlier surge in energy prices, with many raising rates at least once. While the subsequent decline in energy prices reduced the urgency for further policy tightening, El Niño may keep them cautious. The impact of El Niño could be more significant than the energy shock because food carries a higher weight than energy in the Asian consumer price basket. Capital Economics continues to expect India, Pakistan, and South Korea to further tighten monetary policy in the coming months.
