Core Viewpoint - *ST Lifan has announced the completion of its self-examination regarding stock price fluctuations and will resume trading on February 11, 2026, after a suspension period [1][3]. Group 1: Stock Price and Trading Risks - The company warns that its stock price has significantly deviated from its fundamental situation, indicating risks of market overreaction and irrational speculation [5][7]. - During the trading period from January 20, 2026, to February 5, 2026, the stock experienced a price increase of 314.93%, with 7 out of 10 trading days hitting the daily limit [5]. - The company may apply for another trading suspension if its stock price experiences further abnormal increases [7]. Group 2: Regulatory and Financial Concerns - *ST Lifan is at risk of being delisted due to significant legal violations, as indicated by a notice from the China Securities Regulatory Commission [9]. - The company reported that its 2021 and 2022 annual reports contained false records, with a total inflated revenue of approximately 592 million, accounting for 50.91% of the disclosed annual revenue for those years [9]. - For the year 2025, the company anticipates a net loss of between 180 million to 210 million [9].

Group 1: Market Overview - The Hong Kong stock market indices collectively rose, with the Hang Seng Index increasing by 0.58% to 27,183.15 points, the Hang Seng China Enterprises Index up by 0.81% to 9,242.75 points, and the Hang Seng Tech Index rising by 0.62% to 5,451.03 points [2] - Major technology stocks mostly saw gains, with JD.com, Xiaomi, and Alibaba each rising over 1% [3] Group 2: AI Application Stocks - AI application stocks experienced a significant surge, with Zhiyun rising over 21% at one point and closing up over 14%. Other notable gains included Reading Group up over 15% and Fubo Group up over 13% [5] - The attention on AI stocks was driven by the launch of a mysterious model named Pony Alpha on the OpenRouter platform, which quickly became popular among global developers due to its strong coding capabilities and deep optimization for intelligent workflows [5] Group 3: Biotechnology Sector - The biotechnology sector also performed well, with notable increases in stocks such as Fuhong Hanlin up over 7%, and WuXi Biologics and Rongchang Biologics each rising over 4% [6] - Guojin Securities anticipates a performance disclosure window for innovative drug companies in February and March, with expectations for many to reduce losses or turn profitable by 2026, supported by upcoming academic conferences [6]

【导读】香港单一家办为香港经济带来每年过百亿港元收益 2月10日，香港财经事务及库务局（以下简称财库局）与投资推广署联合宣布，投资推广署委托德勤进行的《香港家族办公室市场研究》显示，截至2025 年年底，香港的单一家族办公室（家办）数目已超过3380间，两年间增加约680间，升幅超过25%。 财库局局长许正宇表示，香港是全球资产及财富管理的领先枢纽，家办行业生态圈持续蓬勃发展。香港家办的数目持续增长，反映出政府在政策推动和制 度建设上的努力已取得实质成果。 香港资产及财富管理业韧性强劲 《香港家族办公室市场研究》显示，香港资产及财富管理业韧性强劲。2024年底资产管理总值达35.1万亿港元，预计2028至2030年跃居全球最大跨境财富 管理中心。家办作为重要增长引擎，2024年相关客户资产管理总值约2万亿港元。推算数据显示，截至2025年底，香港单一家办数量达3384间，较2023年 增加681间，印证香港对全球富裕家族的强劲吸引力。 （来源：《香港家族办公室市场研究》） 该研究还指出，资金动向上，家办投资策略出现明显调整。地域配置上，普遍降低美国市场配置，60%计划增加香港配置，中国香港成为唯一零减持地 区 ...

Group 1 - Huatai Securities has completed the issuance of HKD 10 billion zero-coupon convertible bonds, which will be used to enhance its overseas business development and supplement working capital [2][4] - The bonds will be listed on the Vienna MTF and are set to mature in 2027 [2] - The company plans to increase its wholly-owned subsidiary Huatai International by up to HKD 9 billion to support overseas business growth [4] Group 2 - Northeast Securities has received approval from the China Securities Regulatory Commission (CSRC) to establish Dongzheng International Financial Holdings Limited in Hong Kong with a capital of HKD 5 billion [4][7] - The company is required to comply with local laws and regulations during the establishment of Dongzheng International [7] - This move aims to enhance the company's ability to respond to international market risks and challenges [5] Group 3 - Huawan Securities has also received CSRC approval for a capital increase of HKD 5 billion to its Hong Kong subsidiary, Huawan Securities (Hong Kong) Financial Holdings Limited [7][10] - The increase in capital is intended to strengthen the subsidiary's operations in the Hong Kong market [10]

Group 1 - The core announcement is that *ST Lifan's stock will resume trading on February 11, 2026, after completing an internal review regarding stock price fluctuations during its suspension [1][2] - The company warns that its stock price has significantly deviated from its fundamental situation, indicating risks of market overreaction and irrational speculation [4][6] - During the 10 trading days from January 20 to February 5, 2026, excluding 3 days of suspension, the stock experienced a price increase of 314.93%, with 7 days hitting the daily limit [4][6] Group 2 - The company has been under scrutiny for potential major violations that could lead to forced delisting, as indicated by a notice from the China Securities Regulatory Commission [7] - The notice revealed that the company had false records in its annual reports for 2021, 2022, and 2023, with a total of approximately 592 million yuan in inflated revenue, accounting for 50.91% of the reported revenue for those years [7] - The company is projected to report a net loss of between 180 million to 210 million yuan for the year 2025, continuing a trend of consecutive annual losses [7] Group 3 - As of February 5, 2026, *ST Lifan's stock price was 1.03 yuan per share, with a total market capitalization of 1.8 billion yuan [9]

【导读】ST雪发：雪松控股及实控人张劲已被法院宣判 中国基金报记者 闻言 2月10日晚间，ST雪发披露的公告显示，公司关联方雪松控股集团有限公司（以下简称雪松控股）、实际控制人张劲等人集资诈骗、非法吸收公众存款、 背信运用受托财产、妨害作证一案，已于2月10日在广州市中级人民法院第二法庭公开宣判。 2月10日收盘，ST雪发股价报4.81元/股，涨幅达5.02%，总市值为26.17亿元。 编辑：江右 校对：王玥 官网显示，雪松控股创立于1997年，致力于成为全球领先的大宗商品综合性产业集团。此前，雪松控股多次上榜《财富》世界500强。 在高速发展的背后，雪松控股出现多项风险。2021年，雪松控股旗下理财产品陆续逾期或违约。2022年1月，雪松控股承认其无力支付理财产品利息。 2022年9月，张劲在雪松控股的工作会议上表示，目前雪松控股的重点工作是资产重组和债务化解，重中之重是理财产品兑付，必须全力保障投资人权 益。 2023年5月，广州市公安局黄埔区分局发布通告称，因涉嫌非法吸收公众存款，雪松控股下属圆方投资等已被立案查处。 广州市公安局黄埔区分局在彼时表示，已对主要犯罪嫌疑人张某等人采取刑事强制措施，并对涉案 ...

【导读】ST雪发：雪松控股及实控人张劲已被法院宣判 中国基金报记者 闻言 2月10日晚间，ST雪发披露的公告显示，公司关联方雪松控股集团有限公司（以下简称雪松控股）、实 际控制人张劲等人集资诈骗、非法吸收公众存款、背信运用受托财产、妨害作证一案，已于2月10日在 广州市中级人民法院第二法庭公开宣判。 官网显示，雪松控股创立于1997年，致力于成为全球领先的大宗商品综合性产业集团。此前，雪松控股 多次上榜《财富》世界500强。 在高速发展的背后，雪松控股出现多项风险。2021年，雪松控股旗下理财产品陆续逾期或违约。2022年 1月，雪松控股承认其无力支付理财产品利息。 2022年9月，张劲在雪松控股的工作会议上表示，目前雪松控股的重点工作是资产重组和债务化解，重 中之重是理财产品兑付，必须全力保障投资人权益。 2023年5月，广州市公安局黄埔区分局发布通告称，因涉嫌非法吸收公众存款，雪松控股下属圆方投资 等已被立案查处。 广州市公安局黄埔区分局在彼时表示，已对主要犯罪嫌疑人张某等人采取刑事强制措施，并对涉案相关 资产予以查封、扣押、冻结。 如今，雪松控股及相关方迎来法院宣判。ST雪发公告称，公司当前尚未收到相关 ...

【导读】招金矿业：相关善后处置正在进行中，对不幸遇难者表示沉痛哀悼 事关山东招远蚕庄金矿事故，最新公告来了！ 2月10日晚间，招金矿业在港交所发布公告称，最近，公司蚕庄金矿上庄矿段一盲竖井发生坠罐事故，事故造成7人不幸身亡。 招金矿业表示，事故发生后，公司领导高度重视，立即启动应急预案，目前各项处置工作正有序进行，相关善后处置正在进行中。 对业绩影响方面，招金矿业称，2020年度至2024年度，蚕庄金矿年平均黄金产量约1吨、年平均利润总额约人民币6000万元，较集团过往年度数据占比 不高，业绩影响较小。公司将充分关注事故进展，并适时发布有关蚕庄金矿更新进度的进一步公告。 招金矿业表示，董事会谨向在此次事故中不幸遇难者表示沉痛哀悼，对遇难者家属表示诚挚慰问，并对此产生的社会影响深表歉意。 据央视新闻消息，2月7日8时50分左右，山东招远市蚕庄金矿上庄矿段一盲竖井发生坠罐事故，造成7人死亡。应急、公安等相关部门已对事故原因及企 业涉嫌瞒报等问题同步展开调查。 据招远市政府相关部门介绍，事故发生后，企业并没有及时上报事故。招远市应急局在2月9日接到举报后才现场核实确认事故的发生。目前，蚕庄金矿 矿长、总工程师、安全 ...

Market Overview - The Hong Kong stock market saw all three major indices close higher, with the Hang Seng Index rising by 0.58% to 27,183.15 points, the Hang Seng China Enterprises Index increasing by 0.81% to 9,242.75 points, and the Hang Seng Tech Index up by 0.62% to 5,451.03 points [2] AI Application Stocks - AI application stocks experienced a significant surge, with Zhiyuan (智谱) rising over 21% at one point and closing up by more than 14%. Other notable gains included Reading Group (阅文集团) up over 15% and Fubo Group (阜博集团) up over 13% [6][4] - The excitement in the AI sector was driven by the launch of a new model named Pony Alpha on the OpenRouter platform, which quickly gained popularity among global developers due to its strong coding capabilities and optimized performance for intelligent agent workflows [6] Biotechnology Sector - The biotechnology sector also performed well, with notable stocks such as Fuhong Hanlin (复宏汉霖) increasing by over 7%, and WuXi Biologics (药明生物) and WuXi AppTec (药明康德) both rising by over 4% [9][10] - Analysts from Guojin Securities anticipate a positive earnings disclosure window for innovative drug companies in February and March, with expectations of reduced losses or profitability for several firms by 2026. Upcoming academic conferences are expected to further validate clinical data for domestic innovative drugs [9]

【导读】澜起科技IPO顶格定价，首日暴涨，"China for Global"点燃国际长线资本投资热情 中国基金报记者 郭玟君 2月9日，国际领先的数据处理及互连芯片设计公司澜起科技成功在港股上市，当天，瑞银集团全球投资银行部亚洲区副主席朱正芹接受了中国基金报记者的 采访。 过去一周，市场整体表现并不强劲，但澜起科技却获得了500多家投资者下单，国际部分超额认购近38倍。"这是自宁德时代以来最强的簿记。"朱正芹 说，"17家基石投资者中，既有全球长线基金，也有企业巨头。" 这不只是澜起科技的成功，更是港股市场结构性转变的缩影。 澜起科技IPO的基石投资者阵容堪称豪华。招股书显示，17家基石投资者合计认购4.5亿美元，"鞋前"和"鞋后"占总规模的比重分别为49.82%和43.32%。 这17家基石投资者构成了一个多元化的国际资本图谱：全球长线基金，如瑞银资管和摩根大通资管；战略投资者，如阿里巴巴及云锋基金；科技类专项基 金，如Janchor、Aspex；老牌欧资长线abrdn；中邮、泰康等险资和银行系资金。 | | | | 假設超額配股權未獲行使 | | 假設超額配股權獲悉數í | | | --- | --- ...