摩根大通发表研报指，目前中海油估值已趋合理，并将行业偏好顺序调整为中石油、中石化及中海油。 中海油业务组合的石油占比最高，因此对潜在油价下跌更为敏感。摩通预期中海油2026年股息收益率为 5%，相较于中石油为6%；该行将中海油2026及27年每股盈利预测下调7%至9%，以反映美元疲弱，维 持H股目标价23港元及A股目标价30元，评级降至"中性"。 ...

Core Viewpoint - Morgan Stanley's report indicates that Tesla's allocation of capital to solar manufacturing is based on long-term strategic considerations related to geopolitical changes and data center demand [1] Group 1: Tesla's Solar Manufacturing Strategy - Tesla's plan for vertical integration in solar manufacturing reflects Elon Musk's ambition to deploy solar-powered data centers into space while simultaneously enhancing its leading energy storage business [1] - Morgan Stanley estimates that once fully operational, Tesla's solar business could add between $20 billion to $50 billion (or $6 to $14 per share) in equity value to its energy segment, which is currently valued at $140 billion (or $40 per share) [1] Group 2: Investment Rationale - Although the impact on Tesla's overall valuation may not be significant, the decision to allocate capital to new solar capacity is deemed reasonable as it can create value and growth opportunities through the establishment of a vertically integrated solar and energy storage business [1] - Without this investment, Tesla may face significant bottlenecks related to energy, limiting its ability to achieve broader goals in other business areas [1] Group 3: Analyst Rating and Price Target - Morgan Stanley maintains a "in line with large banks" rating for Tesla, with a target price set at $415 [2]

Group 1 - The A-share market saw a strong performance in digital currency concept stocks, with notable gains including Yuyin Co., which hit the daily limit, and Guoxin Technology, which rose over 5% [1] - Hong Kong's Chief Executive, John Lee, emphasized the city's growing status as a global center for Web3 and cryptocurrency innovation during his speech at the Consensus Hong Kong conference [1] - A key initiative mentioned is the implementation of the Stablecoin Regulation in August last year, establishing a licensing system for issuers of fiat-backed stablecoins in Hong Kong [1] Group 2 - The Hong Kong Monetary Authority is actively processing license applications, with the first batch of stablecoin issuer licenses expected to be issued next month [1] - The goal is to position Hong Kong as a global innovation center for digital assets [1] - The digital currency sector's individual stocks have shown significant year-to-date performance, with Guoxin Technology at a 46.13% increase and Dongfang Guoxin at 32.88% [2]

Core Viewpoint - Haitai Technology (301022.SZ) experienced a decline of 5.15%, reaching a new low of 33.34 yuan, with a total market capitalization of 3.317 billion yuan [1] Company Actions - The controlling shareholder, actual controller, and chairman Sun Wenqiang plans to reduce his stake in the company by up to 2,984,500 shares, which represents 3.0000% of the total share capital, within three months from March 12, 2026, to June 11, 2026 [1] - The reduction will occur through centralized bidding and block trading, with a maximum of 994,800 shares (1.0000%) through centralized bidding and 1,989,700 shares (2.0000%) through block trading [1] - The shares to be sold are sourced from those held prior to the initial public offering and from the capital reserve converted into share capital [1]

润贝航科(001316.SZ)再度下跌5.33%，4日累计回撤近15%，现报53.8元，总市值62亿元。消息上，润贝航科发布股份减持公告，股东刘俊锋，嘉仑(海南)投 资发展有限公司拟减持公司股份不超过345.35万股，减持比例不超过公司总股本的3%。此外据悉，该公司近三年累计发布减持计划公告6次。需要注意的 是，公告中披露拟减持股份数量不代表最终实际减持股份数。 ...

格隆汇2月11日｜受到亚洲科技股推动，新兴市场股市攀升至历史高位。投资者对人工智能前景保持乐 观，并持续向发展中市场投入资金。MSCI新兴市场指数周三一度涨0.8%，达到1,561.71点，超过1月29 日创下的盘中历史高点。从韩国到墨西哥、巴西的各主要股指也徘徊在接近历史高位的位置。此次上涨 延续了去年新兴市场股市超过30%的强劲涨幅，亚洲市场如台湾和韩国股市受益于对人工智能相关硬件 （包括半导体）的高需求，表现尤为突出。贝莱德投资研究院的策略师认为，该资产类别中与人工智能 相关的股票存在投资机会，并预计全球供应链重组将利好墨西哥、巴西和越南等国家。 ...

Group 1 - The CPO concept stocks in the A-share market experienced a collective decline, with significant drops observed in several companies [1] - Notable declines include New Yisheng and Zhili Fang, both falling over 5%, while Zhongji Xuchuang, Liantech, and Woge Optoelectronics dropped over 4% [1] - Other companies such as Hengdongguang and Changxin Bochuang saw declines exceeding 3% [1] Group 2 - New Yisheng (300502) reported a decline of 5.32%, with a total market capitalization of 370 billion and a year-to-date decline of 13.62% [2] - Zhili Fang (301312) decreased by 5.09%, with a market cap of 9.316 billion and a year-to-date increase of 53.85% [2] - Zhongji Xuchuang (300308) fell by 4.99%, with a market cap of 58.66 billion and a year-to-date decline of 13.45% [2] - Liantech (301205) saw a decrease of 4.51%, with a market cap of 2.37 billion and a year-to-date increase of 8.52% [2] - Woge Optoelectronics (603773) declined by 4.46%, with a market cap of 7.937 billion and a year-to-date change of -0.14% [2] - Other companies like Weidongguang (920045) and Changxin Bochuang (300548) also reported declines of 3.91% and 3.88% respectively, with market caps of 2.75 billion and 46.3 billion [2]

格隆汇2月11日｜入选了2026年格隆汇"全球视野"十大核心资产名单的台积电美股股价收涨1.83%，报 361.91美元，盘中创历史新高。消息面上，台积电公布1月营收报告，当月合并营收约为4012.55亿新台 币，较上月增加了19.8%，较去年同期增加了36.8%。台积电1月份的营收增速，高于其全年30%的营收 增长预测，同时创下数月以来最快同比增速，显示出全球人工智能支出持续增长的势头，尽管业界仍担 忧存在产业泡沫。 ...

Group 1 - The core viewpoint of the article highlights a significant rise in Hong Kong's cement and building materials stocks, particularly China National Building Material, which surged over 10%, reaching a new high since April 2023 [1] - Longjiang Securities' research report recommends the cement sector due to policy-driven opportunities, indicating clear signals of industry bottoming after four consecutive years of demand decline and price competition [1] - The report suggests that the industry's profitability bottom is evident for the second half of 2025, with many mid-tier and lower-tier companies potentially facing substantial losses [1] Group 2 - The article notes that production overcapacity management has led to a decrease in capacity, with a projected increase in industry capacity utilization rates by 10-15 percentage points starting in 2026, based on registered production capacity [1] - The dual carbon policy may see intensified implementation in 2026, which could lead to a steeper cost curve, benefiting leading companies with lower energy consumption [1] - Recently, China National Building Material secured four consecutive overseas contracts, including a project for the renovation of a cement raw material depot in France, showcasing the company's comprehensive service capabilities in cement engineering asset renovation and upgrades [1]

格隆汇2月11日｜摩根大通发表报告指，渣打集团宣布首席财务官Diego De Giorgi实时离职。据Apollo Global Management公告，其将加入Apollo担任合伙人，以及欧洲、中东与非洲地区主管。鉴于Diego在 投资者中声誉良好，且近期在渣打实现财务里程碑(包括大规模股份回购及ROTE改善)中扮演关键角 色，摩通预期其意外离职将导致渣打股价出现低至中单位数的跌幅。尽管如此，摩通的投资展望保持正 面，因银行的稳健表现得益于持续的战略转型及有利的货币环境。摩通将任何可能的股价过度调整视为 具吸引力的增持机会，评级"增持"，目标价为265港元。 ...