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On August 26th, Bank of America stated that SpaceX's (SPCX.O) expanding wireless communications business could benefit T-Mobile US (TMUS.O), tower companies, and the value of spectrum assets. Bank of America pointed out that if SpaceX wants to build a competitive nationwide wireless communications network, it will need to make large-scale investments, acquire more spectrum resources, and spend years building the related infrastructure. However, Bank of America believes that SpaceX's satellite connectivity business is more likely to complement existing mobile communication networks rather than completely replace terrestrial networks. This means that SpaceX may establish partnerships with T-Mobile and tower operators in the future, creating new business opportunities for these companies.

August 26th - This week, central bank officials from around the world will gather in Jackson Hole, Wyoming, to discuss how to re-examine global inflation and the prospect of further increases in borrowing costs in the face of new inflationary threats. Spiros, an economist at Thin Ice Macro in Frankfurt, stated, "Global central banks are likely to adopt a cautious stance, viewing inflation as the risk they least want to see. You never know when the next supply shock will suddenly appear." Subadra Rajapa, head of US research at Societe Generale, noted that countries differ in their urgency regarding inflation, partly due to their varying degrees of sensitivity to energy cost fluctuations, which in turn depend on their import volumes. He pointed out that Europe and Japan are "more sensitive to the situation in the Middle East and oil prices." "We estimate that policy rates in the US and UK will remain tight," said Jarry Stern, chief European economist at Goldman Sachs. "Different starting points mean different pressures on countries to cope with the energy shock, giving the Fed and the Bank of England more time to observe how this shock evolves." Former Philadelphia Fed President Patrick Harker said, "The Iran war has changed the way people discuss issues and make policy choices, and there seems to be no end in sight." "This makes this year's Jackson Hole symposium completely different because we are now in a typical supply shock environment, or more accurately, multiple supply shocks hitting the global economy simultaneously."

On August 26, CanSino Biologics (06185.HK) issued an announcement on the Hong Kong Stock Exchange, noting the company's recent market developments regarding mRNA technology. The mRNA platform is one of the company's key technology platforms. The company is currently developing mRNA preventative vaccines and therapeutic biological products, as well as related delivery systems. In the therapeutic areas, the company is advancing research and development of mRNA vaccines for the treatment of glioblastoma, rhabdomyosarcoma, and cervical cancer, as well as the development of InVivoCAR-related therapies, all currently in early stages.

According to Al Jazeera, Iranian President Pezechzian and Russian President Putin plan to meet next week.

August 26 – Question: Recently, Philippine Defense Secretary Teodoro stated at a hearing on the 2027 defense budget in the Philippine House of Representatives that he had reason to suspect that some elected officials in the Philippines accepted support from China and made statements favorable to China's position on the South China Sea issue. He also stated that the website of the Chinese Embassy in the Philippines had exceeded its diplomatic functions and was spreading false information locally. What is the Chinese Embassy's comment? Answer: Philippine Defense Secretary Teodoro is making baseless accusations, distorting the truth, and attacking and smearing China. We strongly condemn this. The South China Sea issue is not the entirety of China-Philippines relations, and maritime disputes should not define bilateral relations. China has always been committed to properly handling China-Philippines maritime disputes through dialogue and consultation. However, there is always a small group of people in the Philippines attempting to create conflict and provoke confrontation between China and the Philippines. Their actions run counter to the common aspirations of the people of both countries and are doomed to failure.

The UK's CBI retail sales expectations index rose to -22 in August from -26, the highest level since March.

The UK's CBI Retail Sales Expectations Index for August was -22, compared to -26 previously.

On August 26, the Office of the National Disaster Prevention, Mitigation and Relief Committee and the Ministry of Emergency Management, together with the National Food and Strategic Reserves Administration, allocated 30,000 pieces of central disaster relief supplies, including tents, heaters, clothing, folding beds, and moisture-proof mats, to support the relocation and resettlement of affected people and disaster relief efforts in response to the mudslide disaster in Gyirong County, Shigatse City, Tibet.

On August 26, the State Administration for Market Regulation issued a notice regarding the "Three-Year Action Plan for Improving and Optimizing National Quality Inspection Centers (2026-2028)." The notice emphasizes strict control over new entry requirements to ensure precise service. Newly established national quality inspection centers must closely align with national and regional strategic emerging industries, future industries, and the optimization and upgrading of traditional industries, ensuring that their capacity supply precisely serves the cultivation of new productive forces and preventing low-level duplication of construction and disconnection from industry needs.

On August 26, the Shanghai branch of the People's Bank of China released the monetary and credit situation in the Yangtze River Delta region in July 2026. The data showed that RMB deposits in the Yangtze River Delta region increased by RMB 214.6 billion in July, RMB 448.8 billion more than the same period last year; RMB loans decreased by RMB 19.6 billion, RMB 151.6 billion less than the same period last year.

On August 26, the Kremlin announced that Russian President Vladimir Putin and Syrian Transitional Government President Ahmed Shah spoke by phone, discussing the current state and future prospects of Russia-Syria relations. Putin reiterated Russia's principled stance in supporting Syria's unity, territorial integrity, and sovereignty. Both sides noted the significant importance of the previously signed memorandum of understanding regarding the reorganization of the Khmeimim Air Base and the Tartus Naval Base.

On August 26th, Jiangsu Province issued the "Three-Year Action Plan for Promoting the High-Quality Development of the Biopharmaceutical Industry in Jiangsu Province." The plan includes improving and perfecting a diversified payment system. It encourages commercial health insurance and medical mutual aid programs to include innovative drugs in their coverage, and to optimize and strengthen affordable commercial health insurance programs such as "Jiangsu Medical Benefit Insurance." The medical insurance department will leverage the trusted data space of the medical insurance industry to cooperate with eligible commercial health insurance companies in areas such as data integration and application, and settlement and clearing. Cases involving the application of innovative drugs within the coverage of relevant commercial health insurance may be excluded from the disease-based payment scope and will be paid after review and evaluation.

MINIMAX-W (00100.HK): The net loss attributable to owners of the parent company was US$358 million in the first half of the year, compared with a loss of US$402 million in the same period last year.

Market news: Iran's energy minister said that four power plants that were attacked at the beginning of the war have been rebuilt.

Volkswagen CEO Bruno Bruegel Arnold: Our goal is to establish sustainable development prospects for all production sites within the next 6 to 12 months. Ultimately, competitiveness will be the decisive factor. We plan to cut a quarter of management positions.

MINIMAX-W (00100.HK): R&D expenditure in the first half of the year increased by 138.8% year-on-year, significantly lower than the revenue growth of 283.1%.

On August 26th, MINIMAX-W (00100.HK) announced on the Hong Kong Stock Exchange that its AI-native product revenue increased by 100.9% year-on-year in the first half of the year, from US$21.2 million to US$42.6 million. This was mainly due to increased user engagement, stronger willingness to pay, and the continued commercialization of Conch AI and other AI-native products. We continue to upgrade our AI-native product portfolio and tools, enabling users to more directly apply cutting-edge model capabilities to productivity.

On August 26th, MINIMAX-W (00100.HK) announced on the Hong Kong Stock Exchange that its revenue from its open platform and other AI-based enterprise services increased by 703.1% year-on-year in the first half of the year, from US$9.2 million to US$73.9 million, accounting for 63.4% of total revenue, compared to 30.3% in the same period of 2025. This growth was attributed to the increase in the number of paying users and enterprise customers, the increase in API calls, and the rapid adoption of our token program. This performance demonstrates the growing demand for our models in real-world business scenarios and the increasing contribution of enterprise and developer workloads to our business.