Tongzhong Hong Kong Stocks Morning Brief | International Energy Agency member countries agree to release 400 million barrels of oil Tencent(00700) introduces new "shrimp farming" measures

【Today’s Headlines】

Maersk reports 10 ships stranded in the Persian Gulf; recovery of capacity will take at least a week

Danish container shipping giant Maersk CEO Vincent Clerc stated that the company currently has 10 ships stranded in the Persian Gulf. If a ceasefire is achieved, normal operations will take at least one week to 10 days to resume. Brokers report that over 100 container ships are currently stranded in the Gulf region. Fuel inventories at some Asian ports are decreasing, and oil supply issues may limit vessel docking.

“The longer the Strait remains closed, the harder it will be for Asia to replenish oil stocks,” Clerc said. If Maersk cannot obtain fuel in Asia, it will need to charter tankers to bring in fuel, which will result in higher freight costs. The daily charter rate for ultra-large oil tankers is approaching historic highs, exceeding $400,000.

Mediterranean Shipping Company announced: From March 16, 2026, until further notice, emergency fuel surcharges from Northern Europe and the Mediterranean to Australia and New Zealand will be $200 per dry container and $300 per refrigerated container.

Related to the Hong Kong shipping sector: COSCO Shipping Development (02866), COSCO Shipping Holdings (01919), Orient Overseas International (00316), Hainan International International (01308), etc.

【Market Outlook】

WTI crude oil futures close at $88.41 per barrel, up 5.94%

As of the overnight close, U.S. stocks declined: Dow Jones Industrial Average fell 289.24 points to 47,417.27, down 0.61%; S&P 500 dropped 5.68 points to 6,775.8, down 0.08%; Nasdaq Composite rose 19.03 points to 22,716.13, up 0.08%.

Most large tech stocks rose, with Oracle up over 9% after raising its fiscal year guidance. Tesla and Intel gained over 2%. Storage stocks rose, with SanDisk up nearly 6% and Micron Technology up nearly 4%. Gold stocks declined, with Harmoni Gold dropping nearly 11%. Popular Chinese concept stocks mostly fell, with the Nasdaq Golden Dragon China Index down 0.77%. iQIYI, Tencent Music, and NIO all fell over 4%. Hang Seng Index ADRs rose, with the equivalent closing at 25,921.82 points, up 23.06 points or 0.09% from Hong Kong close.

NYMEX WTI crude futures for the current month rose $4.96 to close at $88.41 per barrel, up 5.94%. COMEX gold futures for the current month fell $58.20, down 1.11%, to $5,183.9 per ounce.

【Hot Topics Preview】

IEA members agree to release 400 million barrels of oil

The 32 member countries of the International Energy Agency (IEA) unanimously agreed to release 400 million barrels of emergency reserves to address disruptions in the Middle East oil markets caused by the war. IEA members hold over 1.2 billion barrels of emergency stockpiles, with an additional 600 million barrels of government-mandated industrial reserves. This is the sixth coordinated release in IEA history, which was established in 1974. Previous collective actions occurred in 1991, 2005, 2011, and twice in 2022.

The U.S. Department of Energy announced that Trump authorized the release of 172 million barrels from the Strategic Petroleum Reserve, starting next week. At the planned release rate, this delivery will take approximately 120 days. An additional 200 million barrels will be added to reserves next year, supplementing existing stockpiles.

China’s independently developed SYT80 ultra-high strength carbon fiber debuts globally

On March 11, China National Building Material Group held a global launch in Beijing, unveiling China’s self-developed SYT80 ultra-high strength carbon fiber. This achievement fills a global gap in this field and marks a significant leap in China’s production of ultra-high strength carbon fibers. Related to Hong Kong-listed China National Building Material (03323).

Tencent (00700) launches new “Shrimp Farming” initiative, introduces “China-Exclusive” SkillHub

On March 11, Tencent announced the launch of a localized AI Skills community—SkillHub—optimized for Chinese users. Built on the open-source ecosystem of OpenClaw, it offers a comprehensive platform compatible with the full skill ecosystem of the official community, supporting local implementation without modifying the open-source content. It provides fast downloads, curated rankings, and Chinese search functions to address common issues with AI agent tools like OpenClaw.

Health 160 (02656) partners with 82 public secondary and above hospitals for “160AI Hospital” operations, with over 720% YoY growth

Zhitong Finance APP reports that Health 160 (02656) announced that by December 31, 2025, the company made significant progress in digital healthcare solutions. In 2025, it partnered with 82 public secondary and above hospitals for “160AI Hospital” operations, a YoY increase of over 720%. In Q4 2025 alone, 52 new hospitals joined, a 420% increase quarter-over-quarter. These new partnerships are based on the company’s innovative “160AI Hospital” operational model, a core product of its digital healthcare solutions, marking key market penetration and broader integration into the healthcare system.

Qiao Tai Technology (01478) February mobile camera module sales reach 32.12 million units, up 40.2% YoY

Zhitong Finance APP reports that Qiao Tai Technology (01478) announced that in February 2026, mobile camera module sales totaled 32.12 million units, down 22.6% MoM but up 40.2% YoY. Total camera module sales were 33.55 million units, down 23.9% MoM but up 40.3% YoY. Fingerprint recognition modules sold 10.50 million units, down 46.8% MoM and 23.5% YoY.

Midea (00300) plans to invest over 60 billion yuan in R&D over the next three years

On March 11, Midea announced that it will continue to invest over 60 billion yuan in R&D over the next three years, focusing on AI and embodied intelligence. Over the past five years, Midea’s total R&D investment exceeded 60 billion yuan, with more than 23,000 R&D staff and 41 global R&D centers.

Yue Yuan Group (00551) reports 2025 results, attributable profit approximately $381 million, down 2.9% YoY

Zhitong Finance APP reports that Yue Yuan Group (00551) announced its 2025 results, with revenue around $8.031 billion, down 1.8% YoY; attributable recurring profit of approximately $367 million, down 3.1%; attributable profit of about $381 million, down 2.9%; basic earnings per share of 23.76 HK cents; proposed final dividend of HKD 0.9 per share.

Tian An (00028) issues profit warning, expects FY attributable profit of HKD 1.65–1.85 billion, turning profitable

Zhitong Finance APP reports that Tian An (00028) issued a profit warning, expecting FY 2025 attributable profit of approximately HKD 1.65–1.85 billion, compared to a loss of about HKD 207 million in FY 2024. The significant improvement is mainly due to revenue recognition from the Tian An No. 2 Phase C residential project in Shanghai, delivered early in 2025.

Shou Hui Group (02621) expects net profit of about 780 million to 800 million yuan in 2025

Zhitong Finance APP reports that Shou Hui Group (02621) announced that its net profit for the year ending December 31, 2025, is expected to be between RMB 780 million and RMB 800 million, an increase compared to a net loss of RMB 916 million to RMB 936 million in 2024. The main reason for the change is a RMB 964 million increase in the fair value of financial instruments issued to investors compared to 2024.

Tian Run Cloud (02167) issues profit forecast, expects 2025 net profit of approximately RMB 55–65 million, up 60–90% YoY

Tian Run Cloud (02167) announced that it expects net profit for 2025 to be approximately RMB 55–65 million, a significant increase of about 60–90% YoY. The board attributes the growth mainly to: (i) rapid expansion of AI-related product portfolio; and (ii) overall optimization of R&D processes driven by AI agent technology.

【Stock Highlights】

Yingpu Precision (01286): Benefiting from strong North American AI development

Yingpu Precision announced annual results with revenue of HKD 5.096 billion, up 8.7%; attributable profit of HKD 726 million, up 12.7%; adjusted attributable profit of HKD 689 million, up 12.1%, reaching new highs. The AI boom continues to drive demand for data centers.

The company also mentioned ongoing assessments of spinning off its aerospace, energy, and medical terminal segments, as well as other financing options, to support future capacity and process expansion, and to plan for long-term sustainable development of the aerospace segment.

Chairman and CEO Lu Ruibo stated that capital expenditure this year will reach HKD 850 million, with one-third allocated to the Mexico plant, which will be completed in three phases, nearly doubling the company’s sales capacity. Looking ahead, Lu estimates that strong demand for high-horsepower engines and new orders from the Mexico plant will accelerate sales growth over the next two to three years, with this year’s sales expected to grow in the mid-double digits.