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hello everyone! let's pay attention to the market conditions and latest information this morning.

on the morning of august 29, the a-share market continued to fluctuate. as of press time, the decline of the chinext index narrowed somewhat, and the shenzhen component index rose and turned positive.

on the market, the computing power sector led the decline in the morning, shipping, banking, construction and other sectors were sluggish, and duty-free shop concepts collectively retreated; education, photovoltaics, liquor and other sectors rose during the session, and photovoltaic inverters, brain-computer interfaces, industrial mother machines and other concepts led the gains.

the hang seng technology index fell in the morning, falling more than 2% during the session; byd electronics and li auto led the decline in the hang seng technology index constituents.

nvidia's industry chain is declining

computing power stocks collectively declined

on the morning of august 29, the a-share communications sector led the decline, concepts such as optical modules, optical communications, and east west computing were sluggish, and nvidia's industrial chain fell collectively.

in terms of individual stocks, many stocks including xinyi sheng, zhongji xuchuan, tianfu communication, and shenghong technology fell sharply, and foxconn industrial internet fell more than 6% during the session.

recently, nvidia released financial data showing that its second-quarter revenue was $30.04 billion, a year-on-year increase of 122%, higher than analysts' expectations. in addition, nvidia also approved an additional $50 billion stock repurchase plan. however, with performance exceeding expectations, nvidia's stock price plummeted after the market, once falling by more than 8%.

cicc research believes that ai has brought about a strong demand for data communication products, and customer demand for ai will continue to maintain rapid growth. cisco expects orders for ai products to increase by us$1 billion in fiscal 2025, mainly ethernet network products, and its stock price has also risen significantly. nvidia's blackwell gpu delay has no impact on total demand, and the demand for h200 has increased significantly. nvidia's future performance is still worth looking forward to. against the backdrop of the continued escalation of us import restrictions on china, it is an inevitable trend for domestic computing power to become self-reliant and self-reliant, and companies related to the domestic industrial chain will benefit greatly.

planning major asset restructuring

mogao shares hit the daily limit

on august 29, mogao shares opened at the daily limit. as of press time, mogao shares still maintained a daily limit.

on the evening of august 28, mogao co., ltd. issued a reminder announcement on planning a major asset reorganization. mogao co., ltd. said that in order to promote the company's high-quality development, expand the pharmaceutical business sector, and enrich pharmaceutical research and development capabilities,the company plans to expand its pharmaceutical business through mergers and acquisitionsthe company intends to acquire 51% of haotian technology's equity by paying cash and increasing capital. the specific acquisition or increase in equity ratio is subject to further demonstration and negotiation.

it is worth noting that haotian technology is the company that proactively applied to withdraw its ipo application. mogao shares said that the parties to the transaction have not yet signed any agreement on the transaction plan, the scope of counterparties, the equity acquisition and capital increase ratio, the transaction price, performance commitments, etc., and the core matters of the transaction still need further demonstration and negotiation.

public information shows that haotian technology applied for an ipo on the science and technology innovation board in june 2023 and withdrew its ipo application in december of the same year. in terms of its main business, haotian technology provides cdmo and cro services in the design, synthesis, and functional application of high-end drug apis and their key intermediates, adjuvants and other functional molecules for pharmaceutical innovation companies.

liquor stocks rebounded in the morning, with lao baigan liquor and wuliangye both seeing significant increases.

li auto's hong kong shares plunge

following the sharp drop in u.s. stocks, li auto's performance on the hong kong stock market was also not ideal on the morning of august 29, with its share price hitting a low of hk$69.05 per share, down nearly 15%.

recently, ideal auto released its financial data for the second quarter of 2024. in the second quarter, ideal auto achieved revenue of 31.678 billion yuan, a year-on-year increase of 10.6% and a month-on-month increase of 23.6%; net profit was 1.1 billion yuan, a year-on-year decrease of 52.3% and a month-on-month increase of 86.2%; adjusted net profit was 1.5 billion yuan, a year-on-year decrease of 44.9% and a month-on-month increase of 17.8%.

li auto said in its financial report that the decline in gross profit margin of automobiles was due to changes in different product portfolios and pricing strategies in the past two quarters. li tie, chief financial officer of li auto, said that with the stabilization of li auto l6 production and the full implementation of the company's various cost-cutting and efficiency-enhancing measures, profit margins and cash flow are expected to improve in the second half of the year.