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【Contest】Hong Kong tech stocks report earnings one after another! Tencent, JD.com, SMIC, Huahong Hongli, and Lenovo Group take the stage together—quick earnings recap for the week (Aug 10–14)

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Hi, fellow investors~

As mid-August arrives, the Hong Kong and U.S. earnings season continues to heat up. Market focus this week will expand beyond mega-cap tech names to multiple sectors including Hong Kong-listed internet and tech stocks, semiconductors, AI infrastructure, optical communications, commercial aerospace, cloud computing service providers, resource stocks, and consumer entertainment.

Dual Focus on Hong Kong Tech: Tencent and JD.com Face Earnings Test

Undoubtedly, the most watched Hong Kong-listed tech and internet stocks this week are$TENCENT (00700.HK)$and$JD.com (JD.US)$$JD-SW (09618.HK)$ 。

Tencentwill serve as a key window into the Hong Kong tech sector, with its earnings release scheduled for August 12 Beijing time. Market attention centers on the performance of its core gaming business, advertising segment, fintech operations, and whether its AI-related initiatives can offer a clearer monetization path. For Tencent, the significance of this report lies not just in 'how much growth' but more critically: Can its gaming business maintain its cash-cow status? Can WeChat Channels, advertising, and fintech sustain their growth momentum? And has AI investment started yielding tangible benefits in cloud services, office tools, content ecosystems, and ad efficiency? If Tencent can continue balancing revenue growth with profitability, it may further reinforce market confidence in its position as the leader of Hong Kong’s tech sector.

JD.comwill report earnings before the U.S. market open on August 13 Eastern Time. JD.com’s story leans more toward 'consumption + supply chain efficiency.' The market will scrutinize growth in its core retail business, the impact of its low-price strategy on margins, operational efficiency of logistics and supply chain services, and whether its platform ecosystem can remain resilient amid intense e-commerce competition. For JD.com, what matters most in this earnings report isn’t GMV alone, but rather the quality of revenue, cost discipline, and whether profitability can provide the market with a more stable outlook.

Hong Kong Semiconductor Leaders Report: SMIC and Hua Hong Hongli Test Sector Sentiment

In the Hong Kong semiconductor space, key attention this week goes to $SMIC (00981.HK)$ and $HUA HONG GRACE (01347.HK)$ 。

SMICwhich will release earnings on August 13 Beijing time. As the leading foundry in Hong Kong, SMIC serves as a critical barometer for China’s domestic semiconductor cycle. The market will closely monitor capacity utilization, wafer shipments, average selling prices, gross margin trends, and whether demand for mature and specialty process nodes continues to recover. For the broader semiconductor sector, SMIC’s results will influence not only views on the company itself but also sentiment around the health of China’s foundry industry.

Hua Hong HongliHua Hong Hongli is also worth watching, with its earnings due on August 13 Beijing time. As a representative of specialty-process foundries, the company’s business is closely tied to power devices, MCUs, analog chips, and automotive electronics. The market will assess the strength of demand recovery, whether pricing pressure has eased, and if its capacity expansion pace aligns with downstream demand.

If both SMIC and Hua Hong Hongli signal improving capacity utilization, stabilizing gross margins, or enhanced order visibility, it would bolster market confidence in Hong Kong’s semiconductor supply chain. Conversely, if pricing pressure and demand divergence remain pronounced, the semiconductor sector may require more time to absorb cyclical volatility.

Lenovo Group leads multi-sector watch on Hong Kong stocks: AI infrastructure and earnings across multiple industries face scrutiny simultaneously

In addition to Tencent, JD.com, and semiconductor stocks, $LENOVO GROUP (00992.HK)$ is also one of the key companies to watch among Hong Kong-listed tech assets that week.Lenovo GroupIt will release its earnings report on August 13 (Beijing time), with AI infrastructure as the key focus. As demand for AI training and inference continues to grow, the market will closely monitor its performance in AI servers, liquid cooling solutions, data center infrastructure, as well as the recovery of its PC business and ramp-up of AI PCs.

Other Hong Kong stock sectors are also worth noting.$CHINA MOBILE (00941.HK)$ Focus primarily on 5G subscriber quality, growth in mobile cloud services, capital expenditure, and dividend policy; $BLOKS (00325.HK)$ Watch IP monetization, new product performance, and channel expansion;$ZIJIN GOLD INTL (02259.HK)$ will be assessed based on the gold price environment, production ramp-up, and cost control.$WERIDE-W (00800.HK)$ Regarding autonomous driving commercialization, the market will focus on order volume, operational scenarios, and cash burn rate; $TME-SW (01698.HK)$ Key metrics include paying users for online music, ARPPU, and content costs;$GDS-SW (09698.HK)$ Represents the data center theme, focusing on whether AI computing demand can drive improvements in occupancy rates and order growth. Resource stocks $MMG (01208.HK)$ Primarily watch metal prices, production volumes, and costs;$SANDS CHINA LTD (01928.HK)$ 、 $GALAXY ENT (00027.HK)$ Represents the recovery in Macau gaming and tourism consumption, with key focus on visitor traffic, gaming revenue, hotel occupancy rates, and margin improvement.

Optical communications stocks face AI computing validation: Lumentum and Coherent become key focal points

In the US equity market, the optical communications segment is one of the most noteworthy AI infrastructure subsectors for the week.

$Lumentum (LITE.US)$ Will report earnings after US market close on August 11, primarily benefiting from rising demand in AI data centers for high-speed optical modules, optical components, and lasers. As AI cluster scale continues to expand, data transmission needs between servers, racks, and data centers are growing rapidly, making optical communications an increasingly critical part of AI infrastructure. The market will closely monitor Lumentum’s order growth, AI customer demand, gross margin trends, and whether forward guidance remains robust.

$Coherent (COHR.US)$ Also a key player in optical communications and advanced materials, it will report earnings after US market close on August 12. Its business spans optical communications, lasers, materials, and industrial applications. The high-speed interconnect demand driven by AI data centers is currently the market’s primary growth catalyst. In the earnings report, investors will pay close attention to the proportion of AI-related revenue, data center customer orders, capacity utilization, and margin improvement.

Space-themed concepts continue to be tested: Rocket Lab, AST SpaceMobile, and Virgin Galactic under simultaneous scrutiny

In the commercial aerospace and satellite communications space, key focus for the week includes $Rocket Lab (RKLB.US)$ 、 $AST SpaceMobile (ASTS.US)$ and $Virgin Galactic (SPCE.US)$ 。

Rocket LabWill report earnings after US market close on August 10 and is one of the most closely watched companies in the commercial aerospace supply chain. The market will closely observe launch business growth, aerospace systems orders, changes in backlog, and progress on new rocket programs. For Rocket Lab, investors care not only about revenue growth but also whether commercial aerospace can transition from a 'story phase' to a more stable phase of order fulfillment.

AST SpaceMobilerepresents the satellite-to-cellphone connectivity segment and will release its earnings after U.S. market hours on August 10. The market will closely watch its satellite deployment progress, commercial partnerships, pace of future service launches, as well as financing and cash burn.Virgin Galacticleans more toward the space tourism concept. Market focus centers on the pace of commercial flights, cash burn, future fleet plans, and whether the company can establish a more sustainable profit model.

A common challenge for space-themed companies is whether commercialization can outpace cash burn. If orders, launch frequency, and collaborative projects continue to improve, sector momentum may persist; however, if cash burn pressure intensifies, the market will pay closer attention to financing risks.

AI cloud infrastructure providers enter the spotlight: CoreWeave, NEBIUS, and Cerebras Systems test the strength of AI compute demand

AI cloud infrastructure providers represent another key theme this week, with particular focus on$CoreWeave (CRWV.US)$ 、$NEBIUS (NBIS.US)$and $Cerebras Systems (CBRS.US)$ 。

CoreWeavewill report earnings after U.S. market hours on August 11 and is one of the representative companies in AI cloud infrastructure. The market will closely monitor GPU cloud service revenue, customer concentration, backlog orders, capital expenditures, debt pressure, and whether the company can continue scaling amid strong AI compute demand. For CoreWeave, growth alone isn’t the only issue—the key question is whether revenue realization can keep pace with its high capital expenditure model to justify its valuation.

NEBIUSwill report earnings before U.S. market open on August 12 and similarly operates in AI cloud services and GPU compute infrastructure. The market will watch compute capacity expansion, customer contracts, data center construction progress, and financing capability. AI cloud providers currently operate in a phase of strong demand but massive investment, so margins, cash flow, and order visibility will be focal points of the earnings reports.

Cerebras Systemsleans more toward AI chips and AI computing systems. The market will monitor its large-model training clients, progress in commercializing AI chips, system delivery capabilities, and whether it can carve out a differentiated niche outside NVIDIA’s ecosystem.

The core question for this segment is straightforward: How real is AI compute demand? If cloud providers continue showing strong revenue, orders, and client expansion, it would signal that AI infrastructure remains in a high-demand cycle. However, if capital expenditure and financing pressures dominate, the market may reassess the valuation elasticity of AI compute companies.

Other key US stock themes: semiconductor equipment, crypto mining companies, precious metals, AI healthcare, quantum computing, and drones

In addition to the above key sectors, several other niche segments in the US stock market warrant attention this week.$Super Micro Computer (SMCI.US)$ is a key company in the AI server segment; the market will focus on order trends, delivery pace, gross margins, and progress on liquid-cooled servers.$Applied Materials (AMAT.US)$ represents the semiconductor equipment supply chain; key areas of focus include advanced process technology, memory capacity expansion, and demand from the Chinese market.$Riot Platforms (RIOT.US)$ is a representative crypto mining company; earnings report highlights include Bitcoin price, mining costs, electricity expenses, and Bitcoin holdings.

$Pan American Silver (PAAS.US)$ corresponds to the precious metals segment; the market will monitor silver prices, gold prices, production volume, and unit costs. $Hims & Hers Health (HIMS.US)$ represents AI healthcare and online health services; key metrics include user growth, subscription revenue, and personalized medicine business. $Quantum Computing (QUBT.US)$ 、 $Quantum (QMCO.US)$ is a quantum computing thematic stock; the market will track orders, technological progress, partnership projects, and cash burn rate. $Ondas (ONDS.US)$ falls under the drone and industrial automation theme; key factors include order execution, demand from government and enterprise clients, and narrowing losses.

This week's earnings lineup spansHong Kong-listed tech stocks, semiconductors, AI servers, optical communications, AI cloud computing, commercial aerospace, resources, and frontier technologiesThese are multiple key investment themes. Can the AI hype continue spreading to infrastructure and midstream segments? Can core Hong Kong-listed assets achieve valuation recovery driven by earnings? Can commercial aerospace and frontier tech move from concepts to actual orders? Will the strong momentum in semiconductors and optical communications persist?

Feel free to share in the comments which companies and sectors you’re most watching—let’s wait together for earnings results to unfold~

[Earnings Live Coverage预告]:

Rocket Lab Q2 2026 Earnings Live Broadcast

Lumentum Fiscal Q4 2026 Earnings Live Broadcast

CoreWeave Q2 2026 Earnings Live Broadcast

Tencent Q2 2026 Earnings Live Broadcast (with Simultaneous Interpretation)

NEBIUS Q2 2026 Earnings Live Broadcast

Lenovo Group Fiscal Q1 2026/27 Earnings Live Broadcast

Hua Hong Semiconductor Q2 2026 Earnings Live Broadcast

JD.com Q2 2026 Earnings Live Broadcast

Applied Materials Q2 2026 Earnings Live Broadcast

SMIC Q2 2026 Earnings Live Broadcast

A lineup of star stocks is set to report earnings! How can you avoid missing the action? Click to learn more about corporate earnings release dates:More Earnings Calendar

🏆 Event: Bull Circle Opinion Leader ✨

Can Tencent's AI and gaming businesses continue to drive growth? Can JD.com maintain its profit margins in a fiercely competitive e-commerce environment? Will SMIC and Hua Hong Hongli signal a semiconductor recovery? Can Lenovo Group continue to scale up its AI server business? Which company do you think will most exceed expectations?

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