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Real-time News
On August 24th, it was reported that on August 20th, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) convened a meeting to promote the 6G future industry among central enterprises. The meeting emphasized that promoting the development of the 6G future industry is an inevitable requirement for central enterprises to implement national strategic plans and fulfill their strategic missions. Central enterprises should proactively align with national, local, and industry plans to accelerate the achievement of industrial development goals. They must address technological shortcomings, strengthen fundamental theoretical innovation, promote breakthroughs in key technologies and components, and build a secure and stable 6G industrial and supply chains. They must solidify the industrial foundation by strengthening innovation platform construction, cultivating market entities, and developing a talent pool to solidify the foundation for high-quality 6G development. They must accelerate international cooperation, build a diversified cooperation system, and comprehensively enhance their international influence. They must incubate application scenarios and actively promote the integration of 6G technology with the real economy, comprehensively build a first-mover advantage in the application ecosystem, and accelerate the realization of a 6G commercial closed loop. Prior to the meeting, attendees visited an exhibition showcasing the achievements of central enterprises in the 6G future industry. At the meeting, a task for the co-creation of 6G future industry scenarios among central enterprises was released.Q Technology (01478.HK): Gross profit for the first half of 2026 was approximately RMB 652 million, a slight decrease of 0.4% year-on-year.Q Technology (01478.HK): Revenue for the first half of 2026 was RMB 9.923 billion, representing a year-on-year increase of approximately 12.4%.August 24th - According to the Financial Times, British oil giant Shell (SHEL.N) is seeking to sell underperforming businesses, and its multi-billion dollar U.S. chemical assets have attracted potential bidders including ExxonMobil and LyondellBasell. Shells U.S. chemical plants produce a wide range of chemicals used in the plastics, detergents, and pharmaceutical industries. These assets include a massive chemical complex in Monaca, Pennsylvania, which began production in 2022, with Shell having invested $14 billion in capital. Sources familiar with the matter revealed that bidders including ExxonMobil, LyondellBasell, private equity group Apollo, and the chemical division of Kuwait Petroleum Corporation have all expressed interest in these assets. The total sale price for the assets could reach $8 billion, significantly lower than the amount of capital Shell has invested.On August 24th, major Hong Kong stock indices fluctuated and declined in the morning session, with the Hang Seng Tech Index once falling by more than 4%. By midday close, the Hang Seng Index was down 2.09%, and the Hang Seng Tech Index was down 3.84%. In terms of sectors and individual stocks, tech stocks generally suffered heavy losses in the morning session. Alibaba (09988.HK) fell nearly 10% in the morning session, Baidu (09888.HK) and Xiaomi Group (01810.HK) fell 4%, Tencent Holdings (00700.HK) fell nearly 3%, and Meituan (03690.HK) and JD.com (09618.HK) also declined. In addition, memory semiconductor, optical communication, and PCB concept stocks also performed poorly, with MINIMAX-W (00100.HK) falling more than 9% and Zhipu (02513.HK) falling more than 8%.
