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Real-time News
Market news: Japans foreign exchange intervention over the past month reached a record 15.4 trillion yen.The draft revision of the Road Traffic Safety Law and other laws are open for public comment.On August 28th, in an interview broadcast on Lebanons Al-Ahram TV on the evening of August 27th, Rezaei, Secretary of Irans Supreme National Security Council, pointed out that Iran has endured severe sanctions from the United States for a long time and is now under a naval blockade by the US military. Even so, Iran has not yielded, so what other tricks does the US have up its sleeve? Rezaei stated that the previous actions of the US and Israel were, to some extent, more like psychological warfare bluffing. Iran has not yet taken any action specifically targeting US economic interests in the Middle East. If Iran were to launch an economic war, people would see "who suffers greater economic losses." Iran will certainly not sit idly by in the face of hostile economic measures taken by the United States.On August 28th, Baozun (BZUN.O) reported a 7% year-on-year increase in total net revenue to RMB 2.7 billion in Q2, with non-GAAP operating profit reaching RMB 74 million. Specifically, e-commerce revenue increased by 5% year-on-year to RMB 2.3 billion, with non-GAAP operating profit reaching RMB 107 million, the highest Q2 figure since 2022; brand management revenue increased by 22% year-on-year to RMB 486 million, with operating losses further narrowing. Based on improved operations, the company has raised its 2028 non-GAAP operating profit target from RMB 550 million to RMB 700 million. Following Baozuns Q2 earnings release, Citi maintained its "Buy" rating, raising its target price from $4.50 to $5.30 and increasing its non-GAAP net profit forecasts for 2026-2028 by 36%, 40%, and 30%, respectively. CLSA upgraded its rating to "Outperform," raising its target price from $3.20 to $3.80 and increasing its adjusted net profit forecasts for this year and next by 20%. CMB International maintained its "Buy" rating, raising its target price from $3.98 to $4.23 and increasing its operating profit forecasts for the next three years. Brokerages generally believe that enhanced profitability in e-commerce, continued loss reduction in brand management, and efficiency improvements brought about by AI and automation applications are key drivers of Baozuns future profit growth. Whether AI can move from pilot projects to large-scale applications and translate into sustainable and quantifiable profit growth will be crucial in observing its long-term value.On August 28th, the Ministry of Housing and Urban-Rural Development and other departments jointly issued the "Notice on Improving the Sales System of Commercial Housing," clarifying the need to accelerate the implementation of existing housing sales and continuously optimize the traditional pre-sale model for commercial housing. Overall, the "Notice" makes new requirements for both pre-sale and existing housing sales. In fact, prior to the new regulations, Hainan, Jingmen in Hubei, and other places had already conducted pilot programs for existing housing sales. This newly released "Notice" signifies another step forward for existing housing sales, officially and steadily promoting it nationwide. Overall, promoting existing housing sales is timely. The core of this policy is very clear: to strictly control the risks of property delivery, prevent the misappropriation of funds, and address pain points in the housing market such as unfinished buildings, delayed delivery, substandard housing quality, and difficulties for homebuyers in protecting their rights, comprehensively safeguarding the legitimate rights and interests of ordinary homebuyers. This new policy adheres to the principle of prudence, avoiding a "one-size-fits-all" approach, and adopts a dual-track approach of pre-sale and existing housing sales with a steady transition, gradually optimizing the industrys development model while stabilizing the housing market. In the long run, the steady transition from pre-sale to completed housing will completely restructure the housing transaction security system, eliminate high-risk development models in the industry, make the real estate market more standardized and healthy, and make ordinary people feel more at ease and confident when buying a house.
