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Yue Yuen (551) consolidated net operating income for May 2026 was US$693,883,000, a year-on-year decrease of 2.5%; cumulative income for the first five months was US$3,375,334,000, a slight year-on-year decrease of 0.7%. Affected by fluctuating order trends, May results remained negative due to a low base from last year, indicating a generally weak fundamental performance.

China's May Social Financing Data Shows Divergent Performance in Household and Corporate Loans

The People's Bank of China released its May social financing data. While new loans were largely in line with market expectations, significant divergence emerged between household and corporate loans. Household loans recorded net repayments for the second consecutive month, while corporate loans continued to grow. The data suggests weak consumer spending, while corporate loans tended towards short-term borrowing. Overall financing demand remained supported by the government's issuance of 1.2 trillion yuan in bonds.

Hong Kong Stock Connect saw a net outflow of 3.942 billion yuan on Friday. Yangtze Optical Fibre and Cable (06869) saw the largest inflow at 884 million Hong Kong dollars, followed by China National Offshore Oil Corporation (00883). The Tracker Fund of Hong Kong (02800) recorded the largest net outflow at 3.896 billion Hong Kong dollars, followed by Alibaba Group (09988).