Zhitong Hong Kong stocks have known for a long time | The energy shock pushed Brent crude oil to break $113, US technology stocks fell sharply, and the NASDAQ fell 2.6%

[Today's headlines]

Saudi Aramco: An unprecedented impact on the energy market

Light crude oil futures for December delivery on the New York Mercantile Exchange rose $2.32, or 2.39%, to close at $99.47 a barrel overnight; London Brent crude oil futures for December delivery rose $4.35, or 4.0%, to close at $113.17 a barrel by the close of the day. After the deadly attack in Saudi Arabia, oil prices rose, further dampening market sentiment, and Brent crude rose above $113 per barrel.

Saudi Arabian National Petroleum Corporation President and CEO Amin Nasser said in an interview with Saudi media that the current situation in the Middle East has had an unprecedented impact on the energy market. Saudi Arabia's Arabian TV broadcast an exclusive interview with Nasser on the 22nd. Nasser said that since the crisis began, global crude oil supply has decreased by about 3 billion barrels compared to normal conditions. Without the release of global strategic reserves, oil prices would far exceed current levels.

[General outlook]

By the close of overnight US stocks, the Dow Jones Industrial Average was up 11.89 points from the previous trading day, or 0.02%; the S&P 500 stock index fell 93.74 points, to close at 7663.43 points, or 1.21%; and the Nasdaq Composite Index fell 694.0 points to close at 26008.86 points, or 2.6%.

Most of the “Big Seven Tech” fell. Meta fell 6.98%, with free cash flow of negative 2.12 billion US dollars in the third quarter, the first quarterly net outflow; Amazon fell 4.57%, Tesla fell 3.08%, and semiconductors, storage, and chips had the highest declines. The Philadelphia Semiconductor Index closed down 6.72%, Ram Research fell more than 11%, SpaceX, Ke Lei fell more than 9%, SanDisk, SK Hynix, Intel, and AMD fell more than 8%. The food and beverage, housing, and daily chemicals sectors had the highest gains.

There was an overall correction in China Securities. The Nasdaq China Golden Dragon Index fell 1.19% to 5518.53 points. New energy vehicle companies, e-commerce, and internet platform stocks generally weakened. The Hang Seng Index ADR rose. On a proportional basis, it closed at 23135.63 points, up 200.95 points or 0.88% from the Hong Kong closing.

WTI crude oil futures on the New York Mercantile Exchange rose $1.95 for the month to close at $99.1 a barrel, or 2.01%. COMEX gold futures fell $110.20 for the month's consecutive contracts, or 2.66%, to $4039.8 per ounce.

[Hot Topics Preview]

18 key enterprises signed contracts and settled in Hong Kong

The Hong Kong Special Administrative Region Government introduced the Key Enterprise Office to hold a signing ceremony for key enterprise partners on the 22nd to welcome a new batch of 18 key enterprises to set up or expand their business in Hong Kong. With the addition of the 7th batch of key enterprises, the HKSAR Government Introduction Office has introduced 142 key enterprises so far, which is expected to bring in a total investment of about HK$84 billion and create about 26,700 jobs. According to reports, the 18 key enterprises that have settled in Hong Kong this time come from various fields such as advanced manufacturing, artificial intelligence, and fintech, including one of the world's largest gold refining and precious metals service providers, and leading companies in next-generation financial infrastructure and digital asset solutions.

London lists “Shanghai Price” steel contract, China's metal pricing influence is exported overseas for the first time

The London Metal Exchange will officially list the LME Shanghai Hot Rolled Coil Contract on October 27, based on the settlement price of hot-rolled coil futures on the Shanghai Futures Exchange. This is the first time that the metal category “Shanghai Price” has been exported to mature overseas markets. The reporter noticed at the London Metal Exchange Week pre-listing seminar that the international traders and fund managers present all said that in the past few years, they “only had one leg” in front of Chinese exporters. In other words, Chinese peers can hedge with previous futures in addition to spot, yet they can only use the spot option. Lu Dongsheng, general manager of the previous edition, said at the meeting that the futures prices of hot-rolled coils in the previous period have gradually become an important reference for importing Chinese sheets from Asia Pacific, the Middle East, North Africa and South America. In his view, “The key to the sustainable and healthy development of a contract is to take root in the physical industry and respond to market demand.” The London Metal Exchange involves the Hong Kong Stock Exchange and the Hong Kong Stock Exchange (00388).

According to the news, big model company DeepSeek plans to raise about 100 billion yuan in the latest round of financing

On October 22, according to market news, the major domestic model company DeepSeek (In-depth Search) plans to raise about 100 billion yuan in the latest round of financing. Tencent and Ningde Era are the investors that have invested the most in this round, and the transaction is expected to be officially completed within the next few days. As of now, none of the relevant investors such as DeepSeek and Tencent have publicly responded. The reporter cross-sought evidence from multiple sources close to the company and investors to confirm that the above information was true. Sources revealed that the fund-raising target for this round was initially set at 50 billion yuan, then raised to about 100 billion yuan through multiple rounds. Currently, no official announcement has been made, and the final amount has not yet been fully determined. This funding will continue to be used for model training, computing power construction, and talent recruitment to support DeepSeek's participation in global competition. Some sources also judged that this round of financing will pave the way for the company's preparation for the Science and Technology Innovation Board IPO.

Bank of China Gold Rental (01606) plans to purchase information technology computer equipment for 1.5 billion yuan

Zhitong Finance App News, Bank of China Financial Leasing issued an announcement. The company, as the buyer, signed a product purchase agreement with the current seller (Guangdong Prui Yunchuang Technology Co., Ltd.) on October 22, 2026. Based on this, the buyer agreed to purchase the subject of this procurement, at a total cost of about RMB 1.5 billion. The subject of this procurement is information technology computer equipment.

Zhongwei New Materials (02579) plans to restructure Indonesian nickel mines with the intention of seizing control of DDL and ANHI

Zhongwei New Materials announced that on October 22, 2026, the board of directors of the company deliberated and passed the share acquisition and foreign investment bill: the wholly-owned subsidiary Zhongwei Hong Kong Zhengxing plans to acquire 53.3% of HML's shares for about US$108 million; the wholly-owned subsidiary EEP plans to purchase additional shares of ANHI; and ANHI plans to acquire 100% of DDL's shares for US$324 million. The transaction is still subject to review and approval by the ANHI Extraordinary General Meeting of Shareholders and related overseas approval procedures. The above transaction forms a package arrangement. After the transaction is completed, the company will hold 100% of HML's shares, ANHI will hold 100% of DDL's shares, and the company aims to hold no less than 50% of ANHI (and DDL) shares. The company urgently needed to obtain control over DDL and ANHI to quickly obtain high-quality nickel ore assets. The transaction can integrate the nickel ore interests currently held by ANHI, HML and DDL into a single operating and holding platform under the company's unified control, supporting the company's expansion to Indonesia's upstream nickel resources and implementing a vertically integrated development strategy.

Longpan Technology (02465) subsidiary plans to sell 76% of the Indonesian Phase II lithium iron phosphate cathode materials project

Longpan Technology announced that on October 22, 2026, LBM AP (an indirect non-wholly-owned subsidiary of the company) plans to sell 76% of PT LBM Energi Baru's shares to Kinetiq at a total cost of US$31.92 million. Upon completion, the buyer will hold 76% of the target company's issued shares, while the group will hold 24% of the target company's issued shares through the seller and LBM SG.

The net profit of Xingyuan Materials (06067) in the first three quarters was about 354 million yuan, up 209.28% year-on-year

Xingyuan Materials announced that the first three quarters of 2026 achieved revenue of about 4.492 billion yuan, a year-on-year increase of 51.85%; net profit attributable to shareholders of listed companies was about 354 million yuan, an increase of 209.28% over the previous year; and basic earnings per share were 0.25 yuan.

Prada (01913) net revenue for the first three quarters of 4.541 billion euros increased 14.5% year-on-year

Prada announced unaudited earnings for the nine months ended September 30, 2026. For the nine months ended September 30, 2026, Prada Group generated net revenue of 4,541 billion euros, an increase of 14.5% (endogenous growth +3.5%) over the same period in 2025. Foreign exchange rate fluctuations had a negative impact of approximately 2.9%, leading to the reported increase of 11.6%.

iFLYTEK (02506) Starfire Healthcare Big Model V3.7 Officially Released

iFLY Medical Technology issued an announcement. Recently, the company fully completed a major upgrade of the Spark Healthcare Big Model based on national production computing power training, and the Spark Healthcare Big Model V3.7 was officially released. In the latest MedBench smart device evaluation by the Shanghai Artificial Intelligence Laboratory, Spark Medical's big model reached the top with an overall score of 99.6.

Ping An Good Doctor (01833)'s net profit of 248 million yuan in the first three quarters increased 35% year-on-year

Ping An Good Doctor announced the results for the nine months ended September 30, 2026. The group obtained revenue of RMB 3,508 million, a year-on-year decrease of 5.8%; net profit of RMB 248 million, an increase of 35%; and adjusted net profit of RMB 258 million, an increase of 19.5% over the previous year. By the end of the reporting period, the company had served more than 8,100 paying enterprise customers in the past 12 months, an increase of nearly 60% over the previous year; at the same time, the corporate health management business GMV continued to grow.

Chow Tai Fook (01929) expects net profit to increase by about 90— 100% year-on-year in the first half of the 2027 fiscal year

Chow Tai Fook announced that the Group's net profit for the six months ended September 30, 2026 (the first half of fiscal year 2027) is expected to increase by about 90-100% over the same period last year, mainly due to (a) fair value income from revaluation of gold loan contracts in the first half of fiscal year 2027, while fair value losses were achieved in the same period last year; and (b) the Group's sales improvement in its core market.

Gloria Ying (06821)'s net profit for the first three quarters was about 852 million yuan, up 6.49% year on year

Gloria Ying announced its results for the first three quarters of 2026, with operating income of about 5.395 billion yuan, up 16.52% year on year; net profit attributable to shareholders of listed companies was about 852 million yuan, up 6.49% year on year; and basic earnings per share were 2.36 yuan.

Profit attributable to shareholders of China Telecom (00728) was 26.207 billion yuan in the first three quarters, a decrease of 14.8% year-on-year

China Telecom announced that in the first three quarters of 2026, the group achieved operating revenue of 382.02 billion yuan, a year-on-year decrease of 3.7%; profit attributable to the company's shareholders was 26.207 billion yuan, a year-on-year decrease of 14.8%; and basic earnings per share were 0.29 yuan.

[Individual stock prices are clear]

CNOOC Oilfield Services (02883): Higher oil prices are beneficial to oil service companies' business growth

CNOOC's competitive position continues to grow. It has industry-leading rig usage rates, demand to support fleet expansion during the “15th Five-Year Plan” period, and its own oil well service capabilities. In terms of international business, the company is expanding from cable logging and cementing to well completion services, improving profit quality and strengthening its position in the global supplier list.

According to a research report released by Jefferies, the market underestimates the durability of the upward cycle of offshore oil and gas activity and continues to regard CNOOC Oil Services as a drilling company, but its profit structure and competitiveness dominated by oil well services are increasing. The company's revenue from the Middle East accounts for less than 10%. All 5 offshore rigs in the region are operating normally, and the direct impact on profits is limited. Supported by long-term offshore contracts, the bank believes that CNOOC is resilient under both escalating and easing the situation in the Middle East.

The bank said that the company's valuation is still lower than other offshore drilling companies and the oil service industry, and believes that its enhanced service competitiveness and long-term profit visibility will drive the valuation to be revalued.

At the end of September, CNOOC Group, the controlling shareholder, had increased its holdings by a total of 815,000 A shares and 22.888 million H shares.