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On July 2, Kuaishou (01024.HK) announced that on July 2, 2026 (after trading hours), (i) Beijing Keling (an indirect wholly-owned subsidiary of the Company, which is expected to hold the Keling AI-related assets and businesses of Kuaishou Group upon completion of the restructuring), (ii) 21 independent investors, Party A and Party B, (iii) Beijing Keling Group Co., Ltd., (iv) LuckyLabs, and (v) Beijing Kuailingrui entered into a capital increase agreement, pursuant to which the initial investors agreed to inject a total of RMB13.823 billion (or US$2.028 billion) in cash capital into Beijing Keling. On the same day as the capital increase agreement, 15 additional investors each entered into a joining agreement with Beijing Keling and agreed to inject a total of RMB5.224 billion in cash capital into Beijing Keling.

1. EIA Natural Gas Report: As of the week ending June 26, total U.S. natural gas inventories stood at 2.922 trillion cubic feet, an increase of 87 billion cubic feet from the previous week, and a decrease of 23 billion cubic feet from the same period last year, a year-on-year decrease of 0.8%. However, it was 175 billion cubic feet higher than the 5-year average, an increase of 6.4%. 2. According to Bloomberg, since Saudi Arabia resumed tanker loading and unloading in the Persian Gulf, its crude oil exports have surged to near pre-war levels, further demonstrating that oil supplies from oil-producing countries in the region are recovering following the interim peace agreement between the U.S. and Iran. 3. Data from the U.S. Department of Agriculture shows that for the week ending June 25, U.S. net soybean export sales for the 2025/2026 marketing year were 42,000 tons, lower than the market expectation of 300,000-650,000 tons, compared to 455,000 tons the previous week; net soybean sales for the 2026/2027 marketing year were 183,000 tons, compared to 902,000 tons the previous week. 4. Nordic American Tankers: Three of its tankers have resumed international shipping operations after passing through the Strait of Hormuz, and all crew members are safe and sound. 5. Initial jobless claims in the U.S. fell slightly last week as businesses continued to avoid large-scale layoffs. The U.S. Labor Department said Thursday that initial jobless claims for the week ending June 27 were 215,000, lower than the market expectation of 220,000 and the previous week's report of 216,000. 6. Data released by the U.S. Bureau of Labor Statistics on Thursday showed that June's job gains fell sharply from the downwardly revised 129,000 in May, and also fell short of the 115,000 predicted by economists in a Bloomberg survey. This report marks a significant cooling in the labor market after three consecutive months of better-than-expected job growth. The unemployment rate fell slightly to 4.2% from 4.3% in May, as investors lowered their expectations for a Federal Reserve interest rate hike. 7. According to foreign media reports, a survey of 12 analysts by S&P Global Energy shows that sugar production in Brazil's south-central region is expected to reach 2.21 million tons in the first half of June, a year-on-year decrease of 9.5%. Sugarcane crushing volume is expected to reach 38.35 million tons during the same period, a year-on-year decrease of 1.3%. 8. According to USDA agricultural drought monitoring data, as of June 30, 2026, the proportion of major U.S. crop-producing areas experiencing moderate to severe drought (D1+) is as follows: 19% in U.S. soybean-producing areas, down 3 percentage points from 22% last week; and up 11 percentage points from 8% in the same period last year. 9. This week, Mysteel's Coal and Coke Division surveyed the profit per ton of coke at 30 independent coking plants nationwide. The national average profit per ton of coke is 47 yuan/ton; the average profit per ton of coke is 71 yuan/ton in Shanxi (quasi-first-grade), 73 yuan/ton in Shandong (quasi-first-grade), 54 yuan/ton in Inner Mongolia (metallurgical coke), and 91 yuan/ton in Hebei (quasi-first-grade coke).

SanDisk (SNDK.O) shares fell as much as 10% during the session.

U.S. tech stocks fell, with the Nasdaq 100 index extending its decline to 1%. AMD (AMD.O) fell nearly 4%, Meta Platforms (META.O) fell 3.5%, Intel (INTC.O) fell 2.5%, Nvidia (NVDA.O) fell 0.6%, and Broadcom (AVGO.O) fell 0.3%.

US storage stocks continued their pullback, with Micron Technology (MU.O) falling more than 3%, Western Digital (WDC.O) falling more than 5%, and SanDisk (SNDK.O) falling more than 9%.

Nasdaq 100 futures fell 1%, the Nasdaq erased earlier gains and is now down 0.2%, the S&P 500's gains narrowed to 0.2%, and the Dow Jones is currently up 0.7%.