Group 1 - The core property management business of Poly Property remains resilient, but growth momentum is expected to slow due to weak project delivery and low sales activity impacting non-owner value-added services [1] - The report indicates a downgrade in revenue and profit forecasts for Poly Property for the fiscal years 2025 and 2026 due to underperformance in value-added services [1] - Despite the downgrade, the target price for Poly Property has been raised from HKD 32 to HKD 36.6 based on a target price-to-earnings ratio of 10.5 times, which is 0.5 standard deviations below the five-year average [1] Group 2 - The resilience of the core business and the defensive advantages provided by its state-owned enterprise background support the "outperform" rating maintained by the firm [1]

花旗发表报告，首次覆盖澜起科技H股并予"买入"评级及目标价205港元，A股目标价由170元升至205 元，评级同为"买入"。报告表示，受惠于人工智能基础设施行业迎来长期性的强劲增长，澜起科技A股 年初至今股价已上涨35%。近期具身智能体属性的人工智能技术发展，亦为储存界面及多列直连内存模 块业务打开超预期增长空间。报告指，澜起科技直接受惠于人工智能资本支出的企业，同时对其启动正 面催化剂观察机制，关注即将发布的人工智能资本支出公告，以及人工智能代理应用推动存储器界面需 求上行空间。 ...

Group 1 - The core point of the article is that Tunan Co., Ltd. (300855.SZ) has seen its stock price increase by 1.2%, reaching a historical high of 41.430 yuan, with a total market capitalization of 16.387 billion yuan [1]

摩根大通发表研报指，百威亚太公布去年末季收入为10.73亿美元(有机收入按年跌4.2%)，相对市场预期 为10.8亿美元，大摩预期为10.7亿美元；经调整EBITDA为1.67亿美元(有机收入按年跌24.7%)，低于市 场预期的1.83亿美元，亦低于大摩预期的2.02亿美元；经调整净亏损1200万美元。期内，集团在中国市 场销售下跌11.4%，销量下跌3.9%(跌幅收窄，市场份额回稳)，有机平均售价按年下跌7.7%，主因贸易 渠道及居家/新兴渠道投资增加。该行予集团目标价9港元，评级"增持"。 ...

格隆汇2月13日丨宁波精达(603088.SH)涨4.08%，报13.280元，股价创历史新高，总市值66.72亿元。 ...

当AI疯狂"发钱"，我却怀念它安静解决问题的样子 ...

格隆汇2月13日丨*ST松发(603268.SH)涨0.97%，报96.250元，股价创历史新高，总市值934.37亿元。 ...

Core Viewpoint - The stock of Zhiyuan (2513.HK), referred to as the "first global large model stock," surged over 22%, reaching a peak of 492 HKD, marking a historical high and bringing its market capitalization close to 220 billion HKD, making it the largest in the large model sector [1] Group 1: Company Performance - Zhiyuan's stock performance reflects a significant increase in market interest, driven by the launch of GLM5, which has led to explosive growth in user traffic [1] - The company has achieved a market capitalization of nearly 220 billion HKD, positioning itself as the leader in the large model market [1] Group 2: Industry Dynamics - The launch of Zhiyuan's GLM5 has resulted in substantial pressure on foundational resources, necessitating urgent expansion supported by domestic chip manufacturers [1] - The industry is entering a dual-driven era with domestic models and computing power, indicating a shift towards commercial applications of domestic computing capabilities [1]

$中国基建投资(hk00600)$ ...

$中国基建投资(hk00600)$ ...