Financial news on August 3, 2026

【Answer 1】 0. Global stock market index information 1. Dutch semiconductor equipment manufacturer ASML released its Q2 financial results, reporting quarterly revenue of €9.33 billion—exceeding market expectations—and raised its full-year guidance. AI chipmakers continue to ramp up purchases of lithography systems. 2. NVIDIA released its latest quarterly operational update: its data center business maintained steady growth; orders for the Blackwell-series AI chips remain tight; and enterprise demand for pre-computing capacity is expected to remain robust over the medium to long term. 3. South Korea’s official statistics show chip exports reached $41 billion in July, up 178.8% year-on-year. Surging AI computing demand continues to drive strong memory chip markets, with Samsung and SK Hynix operating at full capacity. 4. Amazon released its Q2 2026 financial results on July 31, reporting total revenue of $200.6 billion, up 20% year-on-year; AWS cloud revenue rose 36.7% year-on-year—the highest growth rate in 18 quarters. 5. Tesla announced the discontinuation of its 0% APR financing program for the Model Y in North America and increased the annualized loan interest rate for higher-end Model 3 trims to improve its persistently pressured profitability. 6. Kioxia released its Q1 operating data: operating profit stood at ¥1.27 trillion, below market expectations. The company plans to expand the scope of its long-term supply agreements, targeting coverage of 50% of production capacity by 2028. 7. ExxonMobil and Chevron reported their Q2 results, posting adjusted net profits of $14.7 billion and $12 billion respectively. High oil prices drove profit growth, and both companies continue to increase investment in oil & gas exploration. 8. Eurozone July CPI preliminary reading rose 2.9% year-on-year; core CPI rose 2.5% year-on-year. Rising energy prices pushed up inflation, prompting multiple institutions to raise expectations for an ECB rate hike in September. 9. BP has initiated the sale process for its UK North Sea oil & gas assets, planning to exit North Sea oil production—a business it has operated for 60 years—to optimize its global asset portfolio. 10. Moderna released interim clinical trial data for its norovirus vaccine, which failed to meet predefined clinical success endpoints; the company announced adjustments to its subsequent R&D roadmap. 11. BlackRock published an industry research report arguing that current market sentiment toward the AI sector is overly pessimistic; long-term demand for computing infrastructure remains stable, and the firm maintains a positive outlook on the global semiconductor supply chain. 12. xAI has partnered with major overseas cloud service providers; its Grok large language model is now officially deployed on third-party public clouds, offering model inference services to enterprises worldwide. 13. AMD announced its mass-production plan for a new generation of AI acceleration chips, scheduled for official external shipment in Q4, with a focus on liquid-cooled data center computing clusters. 14. The Bank of Canada released its Financial Stability Report, warning that commercial real estate debt risks in Canada continue to rise, and pledging ongoing monitoring of corporate credit default indicators. 15. Novo Nordisk raised its full-year sales guidance for weight-loss drugs and is expanding its French manufacturing facility, aiming to increase global drug production capacity by 60% by 2027. 16. Blackstone Group announced an investment plan to acquire $21 billion worth of North American energy storage assets over the next three years, focusing on infrastructure supporting new energy development.

With a market capitalization of RMB 53.7 billion, why is Green Harmonic seeking a Hong Kong listing when overseas revenue accounts for only 10%?

【Answer 2】 Author | DeepWater Finance Society, He Li A company valued at RMB 53.7 billion generates only 10% of its revenue overseas. On the evening of August 26, Green Harmonic (688017) announced plans to issue H-shares in Hong Kong and appointed Ernst & Young Hong Kong as its special audit firm. The announcement cited reasons including deepening its globalization strategy and broadening offshore financing channels. Yet after reviewing its financial reports, we found that the company’s most pressing current challenge lies precisely in the stark disparity between its domestic and overseas businesses. Rapid performance growth First, consider its recently released semi-annual report. In the first half of 2026, Green Harmonic achieved revenue of RMB 349 million, up 38.64% year-on-year; net profit attributable to shareholders was RMB 70.11 million, up 31.25% year-on-year; and non-GAAP net profit grew 36.92%. Extending the timeline, its full-year 2025 revenue reached RMB 571 million, up 47.3% year-on-year; net profit hit RMB 124 million—more than double year-on-year. Harmonic drive shipments totaled 425,200 units, up 72.5% year-on-year. From its 2023 trough, the company’s performance is indeed accelerating upward. One detail warrants attention, however: gross margin has declined from 41% in 2023 to 32.26% in the first half of this year. Profit margins on harmonic drives are shrinking steadily as more new entrants flood the market—this product no longer appears scarce or exclusive. Green Harmonic’s R&D expenses surged 50% to RMB 34.61 million in the first half—nearly 10% of revenue—demonstrating a clear commitment to sustaining its technological moat through sustained investment. What underpins its dominance? Harmonic drives are core transmission components inside robot joints, accounting for over 30% of total robot cost. Globally, this market has long been dominated by Japan’s Harmonic Drive Systems Inc., whose market share once exceeded 80%. Green Harmonic circumvented Japanese patent barriers via its self-developed P-type tooth profile technology, pricing its products at roughly half those of competitors while achieving near-par performance. In 2025, it captured 27.5% of the domestic market—ranking first—and holds second place globally, just behind Harmonic Drive Systems. Even more strikingly, in the niche segment of harmonic drives for humanoid robots within China, Green Harmonic commands an astonishing 80–90% market share. Its client list reads like a who’s-who of humanoid robotics: Tesla’s Optimus, Unitree Robotics, UBTECH, and Zhiyuan Robotics—all prominent names in the field are on its roster. In July this year, SKF—the century-old Swedish bearing giant—officially established a joint venture with Green Harmonic, focused on high-precision robotic joint transmission components for global markets. A Swedish company founded in 1907 has staked the future of robotic transmission on a Suzhou-based firm—an endorsement of extraordinary credibility.

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