Zhitong Hong Kong Stock Early Knowledge | Sports Power Construction "14th Five-Year Plan" Released, Google Drops Over 4% After Earnings

【Today's Headlines】

The "14th Five-Year Plan" for Building a Strong Sports Nation Released: Industry Scale to Exceed 7 Trillion Yuan by 2030

According to Zhito Finance APP, the National Sports Administration officially released the "14th Five-Year Plan for Building a Strong Sports Nation" (hereinafter referred to as the "Plan") with the approval of the State Council. Recently, the head of the Policy and Regulation Department of the National Sports Administration interpreted issues related to the formulation and implementation of the "Plan." It mentioned that the "Plan" comprehensively deploys high-quality development of sports during the "14th Five-Year" period, setting five main indicators. By 2030, the per capita sports venue area is expected to reach about 4 square meters, the proportion of people regularly participating in sports activities is expected to reach about 40%, the rate of good physical fitness among the population is expected to reach 31.1%, the number of world champions is expected to rank among the top, and the total scale of the sports industry is expected to exceed 7 trillion yuan. The "Plan" makes deployments in various fields related to building a strong sports nation, involving the Hong Kong stock market sports goods industry chain, including companies such as ANTA SPORTS, LI NING, and Xtep.

【Market Outlook】

U.S. Stock Indices Close Lower, Google Falls 4% After Hours

Overnight, the U.S. stock market closed with the Dow Jones Industrial Average down 6.06 points from the previous trading day, closing at 52,218.58 points, a decrease of 0.01%; the S&P 500 index fell 10.24 points, closing at 7,498.96 points, a decrease of 0.14%; the Nasdaq Composite Index fell 146.31 points, closing at 25,690.9 points, a decrease of 0.57%.

Most large tech stocks fell, with SpaceX down over 6%, Intel down over 2%, Microsoft down nearly 2%, Micron Technology and Amazon down over 1%, AMD up over 1%, and NVIDIA up over 2%. In terms of earnings reports, Tesla fell 3% after hours, Alphabet (Google's parent company) fell 4% after hours, Texas Instruments fell 3% after hours, while mining stocks generally rose, with Vale, Alcoa, and Jintian up over 4%, and Southern Copper and Freeport-McMoRan Copper & Gold up nearly 4%. Computer hardware stocks strengthened, with AMD soaring nearly 20%. Dell Technologies rose over 9%.

Most popular Chinese concept stocks fell, with the Nasdaq Golden Dragon China Index down 1.80%. The Hang Seng Index ADR rose, closing at 24,929.5 points, up 36.84 points or 0.15% compared to the Hong Kong closing.

WTI crude oil futures for the current month rose by $2.14, closing at $86.48 per barrel, an increase of 2.54%. COMEX gold futures for the current month rose by $58.60, an increase of 1.44%, closing at $4,135.0 per ounce.

【Hot Topics Ahead】

Baidu Group-SW (09888) Dual Major Conversion Application Confirmed by Hong Kong Stock Exchange, Recommends Granting Issuance Authorization and Share Buyback Authorization

Baidu Group-SW (09888) announced that considering the increase in trading volume of shares traded on the Hong Kong Stock Exchange since its secondary listing in Hong Kong, the connection between Hong Kong and the company's main business operations in China, as well as the company's long-term business development and prospects, the company has submitted a major conversion application to the Hong Kong Stock Exchange (major conversion application), and the company has received confirmation of receipt from the Hong Kong Stock Exchange regarding the major conversion application. The effective date (i.e., the date when the major conversion takes effect) is expected to be within this year, but it must be approved by the Hong Kong Stock Exchange to be finalized After the main conversion takes effect, the company will be dual-listed on the Hong Kong Stock Exchange in Hong Kong and Nasdaq in the United States.

Yuejiang (02432) proposes A-share issuance and has received approval from the Shenzhen Stock Exchange Listing Review Committee for listing on the ChiNext board

According to the meeting review results, the company meets the issuance conditions, listing conditions, and information disclosure requirements.

Huaqin Technology (03296) spends approximately HKD 144 million to acquire a total of 4.4516 million shares of Jinghe Integrated H-shares

The average price per target share is approximately HKD 32.39. After the completion of the acquisition and as of the date of this announcement, the group holds approximately 10.82% of the total issued share capital of Jinghe Integrated. The acquisition indicates the group's continued confidence in the future development prospects and long-term investment value of Jinghe Integrated. Additionally, on July 20, Huaqin Communications Hong Kong Limited increased its holdings in Jinghe Integrated (02249) by 3.1159 million shares at a price of HKD 29.9182 per share, totaling approximately HKD 93.2221 million.

Parker BioPharma-B (02565): The first batch of commercial prescriptions for PaidaKang® has been issued nationwide, and the conditions for the second payment of equity have been met

As of July 22, 2026, PaidaKang® has been issued in several medical institutions, including Peking University People's Hospital and Central South University Xiangya Second Hospital, as part of the first batch of commercial prescriptions nationwide. The successful issuance of the first batch of commercial prescriptions marks the official entry of PaidaKang® into the clinical application and patient usage stage, as well as a significant leap for the group's independently developed first innovative drug from independent research and development, clinical research, and approval for listing to commercial application.

MicroPort Robotics-B (02252) issues profit warning, expects interim net profit of approximately RMB 28 million to RMB 40 million, turning losses into profits year-on-year

According to the Zhitong Finance APP, MicroPort Robotics-B (02252) announced that the board expects the company to turn from a net loss to a net profit for the six months ending June 30, 2026, with an expected net profit of approximately RMB 28 million to RMB 40 million, compared to a net loss of RMB 115 million for the six months ending June 30, 2025. This marks the company's first half-year profit.

Sands China Ltd. (01928) second-quarter net revenue decreased by 0.8% year-on-year to USD 1.78 billion

According to U.S. Generally Accepted Accounting Principles, Sands China's total net revenue for the second quarter of 2026 decreased by 0.8% to USD 1.78 billion compared to the second quarter of 2025. Sands China's net income for the second quarter of 2026 decreased by 50.0% to USD 107 million, compared to USD 214 million in the second quarter of 2025.

【Stock Highlights】

Zhongzi City Technology (09911): Innovative business revenue increased by 35%~46% in the first half of the year, AI-driven short drama business rapidly growing

On July 22, Zhongzi City Technology (09911) released its unaudited operational data announcement for the first half of 2026. In the first half of the year, the company's innovative business is expected to achieve revenue of approximately USD 65 million to USD 70 million, representing a year-on-year growth of approximately 35.4% to 45.8%. The announcement indicates that the high growth is mainly due to the rapid growth of the short drama business driven by AI, in which the company has actively invested During the reporting period, the company's short drama business continued to expand into multiple global markets, including Europe and the United States. Playlet made positive progress in high-value markets such as the United States, Japan, and South Korea, significantly increasing its user base. In the first half of the year, Playlet integrated with Seedance 2.0, becoming one of the first cooperative platforms. According to the revenue-sharing report for short dramas released by TikTok for the first quarter, the company's hit drama ranked second in revenue-sharing scale for a single drama on the platform in its first month. Coupled with AI significantly enhancing short drama production efficiency, the company is expected to leverage its localized operations and deployment capabilities to seize opportunities and further enrich the social entertainment content ecosystem