**Today's Headlines**

**Radio and Television Administration: Improving Management Policies for TV Drama Episode Counts and Season Drama Broadcasting Intervals**

The State Administration of Radio and Television recently issued and implemented "Several Measures to Further Enrich Television Screen Content and Promote Radio and Television Audio-Visual Content Supply." The measures emphasize strengthening content construction through multiple approaches to increase high-quality radio and television audio-visual content supply. Key initiatives include implementing a "Content Innovation Plan," strengthening content innovation; improving management policies for TV drama episode counts and season drama broadcasting intervals; improving TV drama content review work, optimizing mechanisms and enhancing efficiency; strengthening ultra-high-definition program production and broadcasting promotion; strengthening quality documentary and animation creation; encouraging and supporting excellent micro-dramas to enter television broadcasting; and promoting excellent overseas program imports and broadcasts. Additionally, the administration will strengthen relevant legal and regulatory system construction and enhance program copyright protection.

Related Hong Kong-listed entertainment stocks include: Lemon Pictures (09857), Power Entertainment Group (09958), Straw Bear Entertainment (02125), Maoyan Entertainment (01896), Universe Entertainment (03700), Huanxi Media (01003), Damai Entertainment (01060), China Literature (00772), and Fubo Group (03738).

**Market Outlook**

**US Stocks Mixed, Most Popular Chinese Concept Stocks Rise**

Overnight US markets closed mixed. The Dow Jones Industrial Average fell 34.3 points to 44,911.82, down 0.08%; the S&P 500 declined 0.65 points to 6,449.15, down 0.01%; the Nasdaq Composite gained 6.79 points to 21,629.77, up 0.03%. Meta dropped over 2%, while Apple, Microsoft, and Google declined modestly. Most popular Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index closing up 0.12%. Xunlei surged over 37%, Zhihu and iQiyi jumped over 17%, Kingsoft Cloud rose over 5%, and Weibo gained over 3%. Hang Seng Index ADR fell proportionally to close at 25,129.61 points, down 47.24 points or 0.19% from Hong Kong's close.

**Hot Topics Preview**

**Deloitte's 2025 Policy Address Recommendations: Suggests Phased Extension of Hong Kong Stock Trading Hours and Expanding Stock Connect Investor Base**

Hong Kong Chief Executive John Lee will deliver his fourth Policy Address next month. Deloitte recommends targeted measures to further strengthen Hong Kong's financial services sector, including phased extension of Hong Kong stock trading hours, initially extending daily market close to 6 PM; studying expansion of Stock Connect investor base; and short-term exemption of stamp duty for RMB counters under the "HKD-RMB Dual Counter Model."

**Seventh Round of Increases Coming: Multiple Shandong Region Markets Plan Coke Price Hikes**

Coke prices are planned to increase in multiple Shandong markets including Weifang, Binzhou, Dezhou, Jining, Zaozhuang, Heze, Rizhao, Taian, and Linyi. Tamped wet-quenched coke will rise by 50 yuan/ton, tamped dry-quenched coke by 55 yuan/ton, and top-charged coke by 75 yuan/ton, effective from 0:00 on August 19.

**Company Updates**

**CMGE (00302) Reaches Strategic Cooperation with Pangu on Web3 Payments and Game Promotion**

On August 18, CMGE (00302) announced strategic cooperation with Singapore-based Web3 and AI gaming platform developer Pangu on Web3 payments and game promotion. The partnership will jointly develop unified settlement layers supporting Web3 multi-wallet, multi-chain, and multi-currency systems, decentralized payment tools, and compliant virtual currency exchange services for fiat-crypto conversion. Both parties will collaborate on Pangu's new game "Cyber Crash" to facilitate Web2 to Web3 player conversion and joint promotion within Web3 player ecosystems, as well as cooperative promotion of CMGE's upcoming Web3 esports gaming platform KKFun Esports.

**XPENG-W (09868) Reaches Strategic Cooperation with CITIC Bank, Secures 10 Billion Yuan Credit Facility**

Recently, XPENG-W (09868) and CITIC Bank held a strategic cooperation signing ceremony in Guangzhou. XPENG Vice Chairman and Co-President Gu Hongdi and CITIC Bank Guangzhou Branch President Xue Fengqing attended and signed the strategic cooperation agreement. Under the agreement, CITIC Bank Guangzhou Branch will provide XPENG with a total credit facility of 10 billion yuan to fully support the company's business operations and development. This credit facility is significant for XPENG's cash utilization efficiency and settlement cost management optimization.

**Interim Results Announcements**

**China Biologic Products Holdings (01177)**: Interim revenue of 17.57 billion yuan, up 10.7% year-on-year; profit attributable to shareholders of 3.389 billion yuan, up 12.31% year-on-year; basic earnings per share of 18.82 cents; proposed interim dividend of 5 HK cents per share.

**Hansoh Pharma (03692)**: Interim revenue of 7.434 billion yuan, up 14.27% year-on-year; profit attributable to shareholders of 3.135 billion yuan, up 15.02% year-on-year; earnings per share of 0.53 yuan; proposed interim dividend of 23.16 HK cents per share.

**Onewo (02602)**: Interim revenue of 18.137 billion yuan, up 3.11% year-on-year; profit attributable to shareholders of 792 million yuan, up 3.88% year-on-year; basic earnings per share of 0.68 yuan; proposed interim dividend of 0.951 yuan per share.

**China Hanking Holdings (03788)**: MtBundy and Cygnet gold projects' planned annual gold production expected to exceed 200,000 ounces. Updated feasibility studies increased total recoverable resources to 3.1 million ounces of gold from 5.07 million ounces of gold resources.

**Rare Earth Magnesium Technology (09936)** issued a profit alert, expecting interim profit attributable to shareholders to increase significantly to approximately 81.8-100 million yuan, compared to about 62.3 million yuan in the same period last year.

**Road King Infra (01098)** issued a profit warning, expecting interim loss attributable to shareholders of approximately 1.9-2.1 billion HK dollars.

**Sinopec Oilfield Service (01033)**: Interim revenue of approximately 37.051 billion yuan, up 0.6% year-on-year; net profit attributable to shareholders of approximately 492 million yuan, up 9% year-on-year.

**WUXI XDC (02268)**: Interim revenue of 2.7 billion yuan, up 62.19% year-on-year; profit attributable to shareholders of 746 million yuan, up 52.74% year-on-year; basic earnings per share of 0.62 yuan. Total global clients expanded to 563, with 64 new clients added in H1 2025. Total integrated CMC (iCMC) projects reached 225, with 37 new iCMC projects signed in H1 2025. Total backlog increased to $1.329 billion, up 57.9% year-on-year.

Additional interim results were reported by multiple other companies including Andeli Fruit Juice (02218), Meitu (01357), United Laboratories (03933), Huabao International (00336), PAX Global Technology (00327), International Resources (01051), and AMTD Digital (00376), all showing varying degrees of revenue and profit growth.