Group 1 - Migu Culture Technology Co., Ltd. and China Mobile Communications Group Co., Ltd. have obtained a patent titled "Feature Selection Method, Device, and Readable Storage Medium," with authorization announcement number CN114004279B, applied for on October 2021 [1] - Migu Culture Technology Co., Ltd., established in 2014 and located in Beijing, primarily engages in software and information technology services, with a registered capital of 1,040 million RMB [1] - Migu has invested in 9 companies, participated in 2,585 bidding projects, holds 982 trademark records, 2,961 patent records, and possesses 10 administrative licenses [1] Group 2 - China Mobile Communications Group Co., Ltd., established in 1999 and also based in Beijing, focuses on telecommunications, broadcasting, and satellite transmission services, with a registered capital of 30,000 million RMB [1] - China Mobile has invested in 55 companies, participated in 5,000 bidding projects, holds 2,207 trademark records, 5,000 patent records, and possesses 50 administrative licenses [1]

Core Insights - The Hong Kong stock market is experiencing two distinct but resonant waves of incremental capital from mainland China and South Korean retail investors, with mainland southbound funds achieving a record net purchase of 1.41 trillion HKD, establishing themselves as core builders of pricing power in the market [1][10] - Southbound funds are characterized by long-term value investment, while South Korean retail investors engage in high-frequency trading and narrative-driven investments, creating a diversified funding source and a layered pricing logic in the Hong Kong market [1][10] Funding Scale and Structure - Southbound funds have become the core incremental source and valuation system reshaper for the Hong Kong market, with a cumulative net inflow of 5.11 trillion HKD by the end of 2025, and a market value exceeding 6.3 trillion HKD, accounting for 12.7% of the total market [2] - South Korean retail investors, while having a smaller capital scale, exhibit concentrated trading behavior and significant leverage, particularly impacting specific sectors like new economy IPOs and the semiconductor industry [2][5] Industry Preferences - Southbound funds focus on financials and high-dividend utilities, with significant investments in major banks and state-owned enterprises driven by high dividend yields and low valuation levels, while South Korean investors show minimal interest in these sectors [3][5] - South Korean retail investors heavily invested in Xiaomi and MiniMax-WP, demonstrating a high turnover and narrative-driven trading approach, contrasting with the stable, long-term holdings of Southbound funds [5][8] Trading Behavior and Decision-Making - Southbound funds exhibit a decision-making anchor based on dividend yield, ROE stability, and free cash flow generation, characterized by continuous accumulation and stable holdings, as seen with significant net purchases in major banks [8][9] - South Korean retail investors, on the other hand, are driven by industry narrative strength and social media trends, with a high frequency of trading and a tendency to hold stocks for less than three months, reflecting a stark contrast to the long-term holding strategy of Southbound funds [9][10] Market Dynamics - The influx of South Korean retail investors into the Hong Kong market represents a diversification of the investor base, providing liquidity while also potentially increasing volatility during certain periods [9][10] - The interaction between Southbound funds and South Korean retail investors is creating a new normal in the Hong Kong market characterized by layered pricing and concurrent narratives, necessitating both stable investment strategies and agile trading approaches [10]

Group 1 - The board of directors of China Mobile Limited announced the resignation of Mr. He Biao as executive director, CEO, and member of the Sustainability Committee due to work relocation, effective from February 12, 2026 [1] - Mr. He Biao confirmed that there are no disagreements with the board regarding his resignation and no matters need to be notified to the company's shareholders [1] - The board expressed high appreciation and gratitude for Mr. He Biao's outstanding contributions to the company [1]

Core Viewpoint - China Mobile has announced the candidates for its centralized procurement project for special optical cables for 2026-2027, with Tongding Interconnection winning the highest bid share of 18.85% at a pre-tax bid price of 238 million yuan [1] Group 1: Procurement Details - The total procurement volume for the special optical cables is approximately 79,400 kilometers, equivalent to 3.131 million core kilometers [1] - The procurement includes five major categories of products: ordinary optical cables, flat optical cables, blown micro cables, optical-electrical composite cables, and self-supporting optical cables, along with various sub-products such as waterline cables, rodent-proof cables, and flame-retardant buried cables [1] Group 2: Company Performance - Tongding Interconnection has been recognized for its product stability, price competitiveness, and large-scale delivery capability, leading to its top bid share among eight candidates [1] - The company has established three production bases in Jiangsu, Anhui, and Sichuan, creating a full industry chain layout that covers everything from preform rods to optical fibers, optical cables, communication cables, power cables, and communication equipment [1] - This vertical integration from raw materials to end products provides a solid foundation for the efficient fulfillment of procurement orders [1]

Core Viewpoint - China Mobile announced the resignation of Mr. He Biao from his positions as Executive Director, CEO, and member of the Sustainability Committee due to work relocation, effective from February 12, 2026 [1] Group 1 - The resignation is part of a leadership change within the company [1] - The effective date of the resignation is specified as February 12, 2026 [1]

CHINA MOBILE LIMITED 中國移動有限公司 （根據公司條例在香港註冊成立之有限公司） 股份代號：941（港幣櫃台）及 80941（人民幣櫃台） 董事名單與其角色和職能 執行董事 薪酬委員會 董 事 會 設 有 四 個 董 事 委 員 會。董 事 委 員 會 的 組 成 如 下： 審核委員會 陳忠岳先生（董 事 長） 王利民先生 李榮華先生（財 務 總 監） 獨立非執行董事 姚建華先生 楊强博士 李嘉士先生 梁高美懿女士 – 1 – 中國移動有限公司董事會（「董事會」）成 員 載 列 如 下： 姚建華先生（主 席） 楊强博士 李嘉士先生 梁高美懿女士 – 2 – 姚建華先生（主 席） 楊强博士 李嘉士先生 梁高美懿女士 提名委員會 楊强博士（主 席） 姚建華先生 李嘉士先生 梁高美懿女士 可持續發展委員會 梁高美懿女士（主 席） 李榮華先生 李嘉士先生 香 港，2026年2月12日 ...

股票代码：600941 股票简称：中国移动 公告编号：2026-003 中国移动有限公司 关于执行董事兼首席执行官辞任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国移动有限公司（以下简称"公司"）董事会宣布，何飚先生因工作调动 原因辞任公司执行董事、首席执行官和可持续发展委员会委员的职务，自 2026 年 2 月 12 日起生效。何飚先生已确认与董事会并无不同意见，而就其辞任一事， 亦无任何事项需要通知公司股东。 公司董事会谨就何飚先生对公司作出的突出贡献给予高度评价并深表谢意。 特此公告。 中国移动有限公司董事会 1 2026年2月12日 ...

何飚在运营商行业的地位及知名度就不必说了，担任过中国联通、中国移动两大运营商集团高管，各方 面的能力都是首屈一指，业界的人对他赞誉一片，贡献巨大。 早年他操盘中国联通收入最大规模省公司广东联通，业绩非常好，一手带领公司发展迈上了新台阶。 运营商财经网 朱欣雨/文 知情人士向运营商财经网透露，中国移动核心领导班子再次出现变动，集团总经理何飚不再任职，被调 走另有重用了，出任国家广电总局副局长！ 后来，他分管市场口，将中国联通市场条线业务打理得有声有色。在他的管理下，中国联通那几年业务 发展得很好，尤其是南方各省公司得宽带业务迅速崛起。 在中国移动任职期间，正值移动加速从"通信运营商"向"科技服务企业"转型的重要阶段，对集团数字化 转型和创新发展贡献颇多。 现如今，他被调走到广电总局担任副局长，这样的领导无论到哪里任职都能干得出色！ （责任编辑：朱欣雨） 出任中国联通集团副总经理的四年间，他先分管技术口，负责中国联通数字化、信息化等核心工作，大 力优化算力基础设施布局，提出"顶层规划解决方案""8+1"方案，在工业互联网、智慧城市等重点领域 发力，还高度重视6G发展，可以说是中国联通数字化转型的关键推动者。 ...

格隆汇2月12日丨中国移动(600941.SH)公布，公司董事会宣布，何飚先生因工作调动原因辞任公司执行 董事、首席执行官和可持续发展委员会委员的职务，自2026年2月12日起生效。何飚先生已确认与董事 会并无不同意见，而就其辞任一事，亦无任何事项需要通知公司股东。 ...

中国移动公告称，因工作调动，何飚自2026年2月12日起辞任公司执行董事、首席执行官和可持续发展 委员会委员职务。何飚确认与董事会无不同意见，也无事项需通知股东。 ...