Hunan Yuneng Files for HKEX Listing; Mech-Mind Passes HKEX Hearing | HKEX Morning Brief

| Tuesday, August 18, 2026 |

NO.1 Hunan Yuneng Files for HKEX Listing

According to disclosures by the Hong Kong Stock Exchange (HKEX) on August 17, Hunan Yuneng New Energy Battery Materials Co., Ltd. (hereinafter referred to as "Hunan Yuneng," SZ301358) has submitted an application for listing on the HKEX Main Board. According to the prospectus, Hunan Yuneng is a globally leading new energy materials company that combines technological innovation with advanced manufacturing capabilities. It focuses on the research, development, production, and sales of phosphate cathode materials (primarily lithium iron phosphate), committed to providing high-performance, highly consistent, and cost-effective cathode materials to global new energy customers.

Commentary:Hunan Yuneng is a domestic leader in new energy cathode materials, but its performance exhibits strong cyclicality due to fluctuations in lithium prices. In recent years, the company has actively expanded into overseas markets and increased overseas production capacity, including a production base in Spain. Listing in Hong Kong will provide strong support for its overseas expansion strategy.

NO.2 Mech-Mind passes HKEX listing hearing

According to disclosures by the Hong Kong Stock Exchange (HKEX) on August 16, Mech-Mind (Xiong'an) Robotics Technology Co., Ltd. (hereinafter referred to as "Mech-Mind") has passed the listing hearing for the HKEX Main Board. According to the prospectus, Mech-Mind is a supplier of intelligent robotic components, with its products deployed in equipment used in end customers' production and operational processes. It primarily serves end customers in the automotive, new energy, consumer electronics, logistics, education, and general manufacturing industries. The company adopts a product-centric business model, with the vast majority of its revenue derived from the sale of standardized hardware and software products.

Commentary:As a global leader in AI (Artificial Intelligence) + 3D vision-guided general-purpose intelligent robotic components, Mech-Mind maintained rapid revenue growth during the reporting period but remains in a loss-making stage. Leveraging its self-developed large language models and embodied intelligence hardware, the company has established a relatively comprehensive overseas presence. Listing in Hong Kong is expected to further facilitate its global business expansion.

NO.3 Wugu Mofang expects net profit to increase by approximately 40% to 50% year-on-year in the first half of 2026

On August 17, Wugu Mofang (HK01837) announced that it expects to record a net profit of approximately RMB 150 million to RMB 160 million in the first half of 2026, representing a year-on-year increase of approximately 40% to 50% compared to the net profit of approximately RMB 107 million in the same period of 2025.

Commentary:The increase in net profit was mainly driven by the effective implementation of business development strategies and a steady rise in overall revenue, particularly a significant year-on-year growth in offline channel businesses, including counter operations in supermarkets and offline shelf displays.

NO.4 Chow Sang Sang expects year-on-year profit growth from continuing operations in the first half of 2026

On August 17, Chow Sang Sang (HK00116) announced that it expects profit attributable to owners of the company from continuing operations to be approximately HKD 2.1 billion to HKD 2.2 billion in the first half of 2026, compared to HKD 910 million in the same period last year.

Commentary:The growth was primarily attributable to improved sales performance in the retail business segment across key markets, as well as unrealized gains from the mark-to-market revaluation of precious metals lending, compared to unrealized losses in the same period last year.

NO.5 Hong Kong Stock Market Trends

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