Hesai-W (02525.HK) shares fell more than 7% after the earnings release.

Domestic News 1. The State Council issued a decision to amend the "Regulations on the Management of Housing Provident Funds," which will take effect on September 20, 2026. 2. Nine departments, including the Ministry of Commerce, issued opinions on further stimulating the vitality of lower-tier markets and boosting consumption in county-level areas. 3. The State Financial Regulatory Commission supports mainland insurance institutions investing in Hong Kong Exchanges and Clearing Limited (ETFs) through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. 4. Taiwanese power semiconductor manufacturers are planning a third wave of price increases. 5. The Shanghai Stock Exchange: In accordance with regulations, trading of accounts of investors involved in abnormal transactions related to Aili Home Furnishings has been suspended. International News 1. South Korea denied reports that it would include semiconductors as its first investment in the United States. 2. India is considering lowering import tariffs on sugar to curb soaring domestic sugar prices. 3. US media: US debt may surpass the $40 trillion mark this week. 4. The yield on 10-year US Treasury bonds rose to 4.75%, a new high since January 2025. 5. Middle East Situation— ① Iran: Several foreign ministers privately admitted that Iran has achieved victories in both war and diplomacy. ② Iran warned shipping companies not to support US military operations. ③ Iranian Parliament Speaker: The Strait of Hormuz will not be open until certain conditions are met. ④ Iranian media: Iran's Supreme Leader will soon preside over a religious event in Tehran. ⑤ Trump: No negotiations are underway with Iran, the naval blockade remains fully effective, and the Strait is open and operating normally. ⑥ The UAE stated after issuing a missile alert that the situation is currently safe.

Xiaomi Group (01810.HK) said 1H2026 revenue was RMB 208.06 bln, down 8.4% YoY.