East Asia Securities said Weichai Power reported second-quarter revenue of RMB60.6 billion, up 8.8% year on year, while net profit attributable to shareholders rose 57.4% to RMB4.62 billion, according to ETNet. Excluding investment gains and foreign-exchange effects, core net profit increased 38% to RMB3.7 billion. Engine revenue climbed 21.4% to RMB31.22 billion, while overall gross margin slipped 0.6 percentage point to about 21.5% as domestic competition intensified and higher metal raw-material costs weighed on margins. The broker said first-half revenue and net profit accounted for about 48% and 43% of full-year Bloomberg consensus forecasts, broadly in line with expectations. It added that Weichai is shifting from a traditional heavy-truck power leader into an integrated energy equipment supplier benefiting from AI power infrastructure demand, with improved order visibility for diesel backup units and gas generators. East Asia Securities also said SOFC business commercialization could become a key catalyst for valuation re-rating. It set a target price of HK$45 and maintained a Buy rating.

Foresight News reported that Arc, the blockchain under Circle, said it will hold Technical Office Hours at 10:00 PM Beijing time on September 3. According to Foresight News, the session will focus on wallet and account abstraction on Arc. The event will explain how account abstraction works when USDC is used for gas fees, review the current progress of wallet providers supporting Arc, and show how gas fees can be paid on behalf of users. A live demonstration is also planned.

According to Wallstreetcn, U.S. President Donald Trump said the war between the United States and Iran was “just a small war,” adding that it consumed a large amount of ammunition but that the United States could draw ammunition from stockpiles around the world.

BitMine Chairman Tom Lee said markets could see a strong rebound if the Federal Reserve does not raise rates in September. According to PANews, Lee said crypto assets, especially ETH, are the most likely to trigger FOMO in September and before year-end.

The group is demanding 30 Bitcoin — approximately €2 million — and has set a countdown after which it says it will begin auctioning the data on the dark web

Goldman Sachs kept a Neutral rating on Luk Fook Holdings (00590) with a target price of HK$25, saying the jeweller maintained double-digit sales growth in July and August and remained on track for full-year revenue, according to ETNet. The bank said mainland China retail sales growth recovered from single-digit same-store sales growth in July to double-digit growth in August. Hong Kong saw a mild slowdown in August, which Goldman attributed to local residents taking more summer outbound trips, while Macau and international markets continued to post steady double-digit growth. Goldman also said Luk Fook's gross margin is expected to fall by high single digits to the high 20% range in fiscal 2027 from a stronger level in fiscal 2026 supported by rising gold prices. It added that normalised gross margin for weight-based products is above 20% in a stable gold-price environment, while retail gross margin for fixed-price products is above 40%. The bank said Luk Fook has been closing low-efficiency stores in mainland China, mainly in lower-tier markets opened during the post-pandemic expansion period. It said the company remains cautious on mainland expansion amid ongoing macro uncertainty, prioritising store productivity and return on equity over net store count. Overseas, Luk Fook is on track to meet its three-year corporate target within two fiscal years and expects its overseas store count to exceed 100 in the near term.

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