小米集团-W(01810)涨超5%，截至发稿，涨5.06%，报37.38港元，成交额31.07亿港元。 雷军表示，当前销量得益于订单储备厚度与市场认可度，因SU7处于新老切换阶段，本月主力交付车型 为YU7，新一代SU7将于4月上市，2026年品牌整体销量目标为55万辆。而2025年，小米交付量超41万 辆。值得一提的是，小米汽车1月交付量超3.9万辆，成为2026年1月的造车新势力销冠。 消息面上，2月10日晚间，小米集团创始人、董事长兼CEO雷军小年夜直播在北京亦庄小米汽车工厂内 开启。据雷军透露，最后一辆第一代小米SU7已经下线，并已在运输途中。这也意味着，第一代小米 SU7完全停产。此外，雷军介绍，新一代SU7将从2月13日开始陆续进店，首批会在北京、上海、广 州、深圳、杭州、成都、武汉等地门店展示。 ...

Core Viewpoint - The stock of Zhiyun (02513) has surged over 70% this week, with a current price of 340 HKD and a trading volume of 292 million HKD, driven by the anticipation of the upcoming GLM-5 model release [1] Group 1: Company Developments - Zhiyun is advancing a confidential project related to a new model, codenamed "Pony Alpha," which is linked to the upcoming GLM-5 model [1] - The Chief Scientist of Zhiyun, Tang Jie, confirmed that the company will soon release the GLM-5 model [1] Group 2: Market Position and Growth Potential - Zhiyun is recognized as a leading provider of large model services in China, with a self-developed GLM base model at its core [1] - The company has established a comprehensive model matrix that includes multi-modal, Agent, and Coding services, offering API services, localized deployment, and industry solutions to enterprise clients [1] - Guangfa Securities has projected that Zhiyun's revenue will maintain rapid growth from 2025 to 2027, with scale effects gradually becoming apparent, indicating strong long-term profitability certainty [1]

Core Viewpoint - The energy storage battery industry is experiencing rapid changes, with Haicheng Energy emerging as a significant player, ranking second globally in energy storage battery shipments by 2025, driven by its strategic focus and technological advantages [1][2]. Industry Overview - The global energy storage battery market is projected to see explosive growth, with shipments expected to increase by over 80% year-on-year, reaching 640 GWh in 2025 [1]. - Haicheng Energy's entry into the top ranks of global energy storage battery shipments reflects a significant shift in market dynamics [1]. Company Achievements - Haicheng Energy's Chongqing base has been recognized as the world's first "Lighthouse Factory" for energy storage batteries, highlighting its advanced manufacturing capabilities [2]. - The company has implemented over 40 digital solutions, integrating cutting-edge technologies such as generative AI and AIoT, to create a comprehensive intelligent control system for its production processes [3]. - The Chongqing facility is the first in the world to mass-produce long-duration energy storage batteries, with the ∞Cell 1175Ah battery set to be produced in 2025 [3]. Operational Efficiency - The delivery cycle for Haicheng Energy's 10 GWh scale has significantly shortened from several months to just a few weeks, demonstrating exceptional operational resilience and efficiency [4]. - The company has achieved a compound annual growth rate of 167% in energy storage battery shipments from 2022 to 2024, with a remarkable 250% year-on-year increase in the first half of 2025 [4]. - By August 2025, Haicheng Energy's cumulative shipment volume surpassed 100 GWh, placing it among the top three globally [4]. Strategic Positioning - The recognition as a "Lighthouse Factory" serves as a compelling value anchor for Haicheng Energy, especially as it approaches its IPO in the Hong Kong market, showcasing its competitive advantages beyond just growth metrics [5]. - The company's ability to lead industrial upgrades through intelligent manufacturing is a key factor in its rapid growth and ascent to the second position in global energy storage battery shipments by 2025 [6].

Core Viewpoint - The energy storage battery industry is experiencing significant and rapid changes in market positioning, with HaiCheng Energy emerging as a key player, ranking in the top two for global energy storage battery shipments in 2025, reflecting a robust growth trajectory in the sector [1] Group 1: Market Growth and Rankings - The global energy storage battery shipment is projected to grow over 80% year-on-year, reaching 640 GWh in 2025 [1] - HaiCheng Energy has achieved a notable position in the market, ranking in the top two for both overall energy storage battery shipments and large-scale battery shipments in 2025 [1] Group 2: Manufacturing Excellence - HaiCheng Energy's Chongqing base has been recognized as the world's first "lighthouse factory" for energy storage batteries, highlighting its advanced smart manufacturing capabilities [2] - The Chongqing facility integrates over 40 digital solutions, utilizing cutting-edge technologies such as generative AI and machine learning to enhance the entire production process from R&D to quality control [3] Group 3: Operational Efficiency and Growth - The delivery cycle for HaiCheng Energy's 10 GWh scale has significantly shortened from several months to just a few months, demonstrating exceptional operational resilience and scalability [4] - The company has achieved a compound annual growth rate of 167% in energy storage battery shipments from 2022 to 2024, with a remarkable 250% year-on-year increase in the first half of 2025 [4] Group 4: Investment Value - The recognition of the Chongqing base as a "lighthouse factory" serves as a compelling value anchor for investors, showcasing HaiCheng Energy's competitive advantages beyond just growth metrics [6] - The company's ability to lead industry upgrades through smart manufacturing positions it favorably in a competitive market, contributing to its ascent as the second-largest global energy storage battery supplier by 2025 [6]

商汤-W(00020)涨超7%，截至发稿，涨6.97%，报2.61港元，成交额5.01亿港元。 消息面上，北京时间2月11日凌晨，国际指数编制公司MSCI公布了其2026年2月的指数季度调整结果， 本次调整将于2月27日收盘后生效。MSCI中国指数方面，共新增37只股份及剔除16只股份。其中涉新增 股份包括商汤。 值得一提的是，商汤科技近期披露，其正式开源空间智能模型日日新SenseNova-SI-1.3，在空间测量、 视角转换、综合推理等核心任务中展现出显著提升，另外对比之前的版本增强了回答简答题的能力。 ...

Core Viewpoint - The stock of Gilead Sciences-B (01672) has increased over 30% in the month, with a current price of HKD 18.24 and a trading volume of HKD 17.99 million, following the announcement of its first oral glucagon-like peptide-1 receptor agonist, ASC36, entering clinical development [1] Group 1 - The company announced on February 11 that it has selected ASC36 oral tablets for clinical development, with plans to submit an Investigational New Drug (IND) application to the FDA in the second quarter of 2026 for obesity treatment [1] - ASC36 is expected to have superior oral bioavailability and efficacy compared to a recently FDA-approved GLP-1R agonist, potentially allowing for lower dosing [1] - The weight loss effect per milligram of ASC36 peptide is anticipated to be more effective, which may lead to lower manufacturing costs due to scalability advantages [1] Group 2 - ASC36 is developed using the company's proprietary Artificial Intelligence-assisted Structure-Based Drug Discovery (AISBDD) technology [1] - The oral tablet formulation of ASC36 has been optimized using the company's proprietary POTENT technology for effective oral peptide delivery [1]

Core Viewpoint - The stock prices of Kintor Group and Kintor Laminates have risen significantly, driven by increased demand for high-end copper-clad laminates due to AI computing power and product price increases [1] Group 1: Market Performance - Kintor Laminates (01888) rose by 8.97% to HKD 18.35, while Kintor Group (00148) increased by 4.34% to HKD 35.1 [1] Group 2: Industry Outlook - Dongguan Securities reports that the copper-clad laminate industry is expected to experience rapid growth in performance by 2025, driven by high demand and price increases [1] - Current raw material prices remain high, and the overall operating rate of downstream PCB is elevated, indicating strong market conditions [1] - The trend of price adjustments for copper-clad laminate products is likely to continue, benefiting related companies' performance and profitability [1] Group 3: Product Development - The Rubin platform is expected to adopt M8.5+ materials, with some segments potentially using higher-end M9 materials, significantly increasing the value of copper-clad laminate products [1] - ASIC customers are anticipated to actively follow this trend, further driving demand [1] - Upgrading of copper-clad laminates will also boost the demand for electronic copper foil and electronic fabric, with high-end materials like HVLP4 copper foil and LowDK second-generation fabric expected to see increased demand [1] Group 4: Competitive Landscape - Domestic companies are accelerating breakthroughs in the high-end copper-clad laminate and material sectors, positioning themselves to benefit from ongoing market trends [1]

Core Viewpoint - The company, Brainstorm Aurora-B (06681), has seen its stock price increase by over 4%, currently trading at 4.83 HKD with a transaction volume of 48.71 million HKD, following the announcement of a strategic partnership with Macau Kiang Wu Hospital to enhance digital health services for cognitive disorders [1] Group 1 - The company’s subsidiary, Brainstorm Aurora Medical Technology (Macau) Limited, has signed a cooperation agreement with Macau Kiang Wu Hospital to provide digital AI technology services for brain health [1] - The partnership aims to establish a comprehensive health management model covering "hospital-community-home" for cognitive disorder screening, assessment, training, and management in the Macau region [1] - The board believes this collaboration sets a benchmark for the group and opens up the Greater Bay Area market, marking the first flagship project for the group’s digital therapy in the Hong Kong-Macau region [1] Group 2 - The collaboration enriches the company's ecosystem alliance with authoritative medical institutions, complementing a recent national-level project partnership with the National Rehabilitation Aids Research Center under the Ministry of Civil Affairs [1] - This initiative aims to promote the standardization and large-scale application of cognitive digital therapies [1]

值得注意的是，中芯国际高管在业绩说明会上表示，2025年公司资本开支为81亿美元，高于年初预期， 主要是因为应对客户强劲需求、外部环境变化以及设备交付时间加长。在外部环境无重大变化的前提 下，中芯国际给出的2026年指引为：销售收入增幅高于可比同业的平均值，资本开支与2025年相比大致 持平。 ASMPT(00522)早盘涨超8%，截至发稿，涨7.14%，报108.1港元，成交额1.51亿港元。 消息面上，ASMPT近日宣布，成功获得某主要客户的新订单，将提供两台搭载专有等离子主动氧化物 去除(AOR)技术的超细间距热压接(TCB)设备，用于芯片到晶圆(C2W)应用。这项成果进一步巩固了 ASMPT于先进封装市场的技术领导地位。 ...

董事会认为，本集团调整前业绩由盈转亏，主要由于以下原因：期内生猪销售价格同比大幅下降，持续 于低位运行，养殖业务利润空间受到挤压，虽期内养殖成本有所改善，生鲜品牌业务有较大突破，科技 驱动成效有所显现，但整体盈利水平同比下降。 中粮家佳康(01610)跌超3%，截至发稿，跌3.11%，报1.55港元，成交额1230.36万港元。 消息面上，2月10日，中粮家佳康发布公告，预期本集团2025年度生物资产公允价值调整前的本公司拥 有人应占亏损约为人民币2.3亿元至人民币3.5亿元(未经审核)，去年同期调整前应占溢利约为人民币2.59 亿元。 ...