Zhitong Hong Kong Stocks Early Knowledge | Global Shipping Giants Raise Prices Collectively, International Gold Prices Hit New Historical Highs

【Today's Headlines】

Global Shipping Giants Raise Prices Collectively

Recently, the Civil Aviation Administration of China announced the schedule for the winter-spring season of 2025, which will be officially implemented starting October 26. The domestic flight schedule has contracted year-on-year for two consecutive seasons, with decreases of 1.0% and 1.8% for 2024 and 2025, respectively. The average ticket price for domestic routes, excluding fuel, has increased by 5.9%, with an average daily passenger load factor of 87.9%, an increase of 3.5 percentage points compared to the same period in 2024.

At the same time, the international market is also experiencing a peak after the summer travel season. Domestic and foreign airlines are executing more than 2,000 international passenger flights daily, a 10.6% increase compared to the National Day holiday in 2024. Under these ticket price and load factor levels, airline profitability has significantly improved compared to the same period in 2024. Additionally, starting October 15, global shipping giants such as MSC, CMA CGM, and Hapag-Lloyd have collectively raised prices, with freight rates on multiple routes from the Far East to Europe, Africa, and South America increasing by $600 to $2,000 per container. The shipping industry has ended months of sluggishness and entered a structural upward cycle.

Analysts believe that the current round of price increases is driven by a combination of three factors: the contraction of capacity at European and American ports, adjustments to routes in the Red Sea and Africa, and the global manufacturing sector's inventory replenishment. Benefiting from the recovery in public and business demand, revenue levels have also recently improved. According to data from Flight Butler, from week 36 to week 41, the average ticket price for domestic routes, including fuel, has turned positive, increasing by 3.0%. Additionally, benefiting from the industry's "anti-involution" and continuous improvements in airline revenue management, coupled with a low base, Huatai Securities believes that the increase in revenue levels is expected to continue into the fourth quarter and beyond. Furthermore, the decline in oil prices is expected to reduce cost pressures, helping airlines realize profit elasticity. Additionally, the appreciation of the RMB is also a significant boost.

【Market Outlook】

Overnight U.S. Stocks All Three Major Indices Closed Higher International Gold Prices Hit New Historical Highs

Overnight, the U.S. stock market closed with the Dow Jones Industrial Average rising by 515.97 points to close at 46,706.58 points, an increase of 1.12%; the S&P 500 index rose by 71.12 points to close at 6,735.13 points, an increase of 1.07%; the Nasdaq Composite Index rose by 310.57 points to close at 22,990.54 points, an increase of 1.37%. Large technology stocks saw widespread gains, with Apple rising nearly 4%, hitting a historical high; AMD rose over 3%, also reaching a historical high.

Most popular Chinese concept stocks rose, with iQIYI up over 8%, Nio up nearly 5%, and Kingsoft Cloud up over 4%. The Hang Seng Index ADR rose, closing at 26,146.34 points, an increase of 287.51 or 1.11% compared to the Hong Kong close.

International gold prices surged, hitting a new historical high, with the COMEX gold futures settlement price for the current month rising by $146.10, an increase of 3.47%, to $4,359.4 per ounce.

【Hot Topics Ahead】

Ministry of Industry and Information Technology: Key Enterprises Must Strictly Implement Policies on Cement Capacity Replacement and Standardization of Cement Capacity, and Develop Capacity Replacement Plans for Projects Exceeding Registration by the End of 2025

The Raw Materials Industry Department of the Ministry of Industry and Information Technology recently held a symposium on stabilizing growth in the cement industry. The meeting pointed out the need to deeply understand the prominent supply-demand contradictions in the cement industry, aiming to promote dynamic balance between supply and demand and the transformation and upgrading of the industry, with market-oriented and rule-of-law as the fundamental direction, adhering to consolidation and reform innovation, focusing on the present while looking to the long term, and strictly prohibiting the addition of new capacity Standardize existing production capacity and eliminate backward production capacity. The meeting emphasized that leading enterprises should play a guiding role and strictly implement policies on cement capacity replacement and standardization of cement capacity. By the end of 2025, capacity replacement plans should be formulated for capacities exceeding project filings to promote the unification of actual capacity and filed capacity.

"Beijing Wind Energy Declaration 2.0" Released, Future Five-Year Installed Capacity Target Doubled

On October 20th, the 2025 Beijing International Wind Energy Conference and Exhibition, known as the "barometer" and "weather vane" of China's wind power, opened. At the opening ceremony, the "Beijing Wind Energy Declaration 2.0" was officially released, aiming to unite the consensus and strength of the global wind power industry. It proposed that during the "14th Five-Year Plan" period, the annual newly installed capacity should not be less than 120 million kilowatts, doubling the annual installation target proposed in 2020.

Childcare Subsidy Review Approved in Multiple Regions, Expected to be Distributed from Late October to December

Interviews with parents in Sichuan, Chongqing, and other regions revealed that many parents have reported that the review of childcare subsidies has been approved. According to reports from various regions, the review of local childcare subsidies is also accelerating. For example, on October 12th, local media in Xining, Qinghai, reported that as of now, the city has processed 39,669 applications for childcare subsidies, with the first batch of 14,109 applications approved. So, when will the childcare subsidies be distributed? The information gathered indicates that the distribution times vary by region. For instance, Xining is expected to distribute the first batch of childcare subsidy funds at the end of October, while other places have indicated they will distribute in November or December. This involves infant formula segments, including Hong Kong-listed China Feihe (06186), Mengniu Dairy (02319), and H&H International Holdings (01112).

Contemporary Amperex Technology Co., Limited (03750): The Company's Board of Directors Approved the Proposal on Entering into Equipment and Service Procurement Agreement with Related Subsidiaries

Contemporary Amperex Technology Co., Limited announced that to meet the production and construction needs of its overseas battery factory in Indonesia, its wholly-owned subsidiary Hong Kong Times New Energy Technology Co., Ltd. and its subsidiary PT Contemporary Amperex Technology Indonesia plan to sign an "Equipment and Service Procurement Agreement" with the related subsidiary PT Contemporary Amperex Technology Indonesia Battery. Hong Kong Times and CATI will sell battery production line equipment to CATIB and provide related on-site services, with a transaction scale of $131,066,299.73. The company's independent directors specially reviewed and approved this proposal.

China's Largest Single-Unit Pumped Storage Unit Successfully Started in One Go

The No. 1 unit of the Zhejiang Tiantai Pumped Storage Power Station successfully completed its first trial run and entered water debugging. The unit reached rated speed at 16:16 on the 16th, achieving a successful start in one go. The Zhejiang Tiantai Pumped Storage Power Station is a key project under the national "14th Five-Year Plan," with a total installed capacity of 1.7 million kilowatts, comprising four reversible pump turbine generator units with a single unit capacity of 425,000 kilowatts, making it the highest rated head and largest single-unit pumped storage power station currently under construction in China Involving Hong Kong Stock Dongfang Electric (01072).

Yankuang Energy (01171) third quarter commodity coal production of 46.03 million tons, an increase of 4.92% year-on-year

According to Zhitong Finance APP, Yankuang Energy announced that in the third quarter of 2025, the commodity coal production was 46.03 million tons, an increase of 4.92% year-on-year; commodity coal sales were 45.82 million tons, an increase of 10.08% year-on-year; of which self-produced coal sales were 44.19 million tons, an increase of 12.21% year-on-year.

China Biologic Pharmaceutical (01177): Data from Phase III study of Kymriah combined with Fulvestrant for first-line treatment of advanced breast cancer announced at ESMO 2025

According to Zhitong Finance APP, China Biologic Pharmaceutical announced that the group has presented the interim analysis results of the Phase III clinical study (CULMINATE-2) of the national Class 1 innovative drug Kymriah capsules (CDK2/4/6 inhibitor) for first-line treatment of HR+/HER2- advanced breast cancer in the form of the latest key abstract (LBA) at the 2025 European Society for Medical Oncology (ESMO).

China Mobile (00941) reported a profit attributable to shareholders of RMB 115.4 billion in the first three quarters, an increase of 4.0% year-on-year

According to Zhitong Finance APP, China Mobile announced that in the first three quarters of 2025, the group's operating revenue was RMB 794.7 billion, an increase of 0.4% year-on-year; of which, communication service revenue was RMB 683.1 billion, an increase of 0.8%, and product sales revenue and others were RMB 111.5 billion, a decrease of 1.7% year-on-year. Profit attributable to shareholders was RMB 115.4 billion, an increase of 4.0% year-on-year, with a profit margin of 14.5%; EBITDA was RMB 265.4 billion, an increase of 0.9%; EBITDA accounted for 38.8% of communication service revenue.

Xuanwu Cloud (02392) plans to introduce strategic investors to add new momentum for development

On October 20, Xuanwu Cloud announced that its shareholders Zhenghao Global, Honghan Global, and Baoya signed a sales agreement with Hantang Mingyuan Investment Co., Ltd. (hereinafter referred to as "Hantang Mingyuan"). According to the agreement, Hantang Mingyuan intends to purchase 20% of Xuanwu Cloud's issued share capital for HKD 65.199 million. After the transaction is completed, Hantang Mingyuan and the company's actual controller Lian Jian will become the single largest shareholder group of Xuanwu Cloud.

Weimob Group (02013): Business cooperation with Douyin Group

Weimob Group announced that it has officially launched business cooperation with Douyin Group's comprehensive digital marketing service platform, Kuaishou Engine.

【Stock Highlights】

CATL (03750) reported a net profit attributable to the parent of approximately RMB 49.034 billion in the first three quarters, an increase of 36.2% year-on-year

According to Zhitong Finance APP, CATL announced that in the third quarter of 2025, it achieved revenue of approximately RMB 104.186 billion, an increase of 12.9% year-on-year; the net profit attributable to shareholders of the listed company was approximately RMB 18.549 billion, an increase of 41.21% year-on-year; basic earnings per share were RMB 4.10