智通财经APP讯，快手-W(01024)发布公告，于2026年1月20日，该公司斥资2995.25万港元回购39.3万股 股份，每股回购价格为75.85-76.7港元;根据首次公开发售后购股权计划(于18/01/2021采纳)行使期权而发 行8667股股份;根据首次公开发售前雇员持股计划(于06/02/2018采纳)行使期权而发行2.21万股股份。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) | 2). | | 就根據股份計劃授予參與人（發行人的董事除外）的股份獎勵或期權 | 22,052 | 0.0005 % | HKD | 0.3273 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 而發行新股或轉讓庫存股份 - 涉及新股 | | | | | | | | | | 根據首次公開發售前僱員持股計劃 (於 06/02/2018 採納)行使期權 | | | | | | | | 變動日期 | 2026年1月20日 | | | | | | | | 於下列日期結束時的結存 (註5及6) | 2026年1月20日 | 3,658,904,328 | | 0 | | 3,658,904,328 | | | | B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) | | | | | | | 1). | 購回股份擬註銷但尚未註銷 | | 462,000 | 0.0106 % | HKD | 64.7845 | | | | ...

作者|豆芽 1月17日晚，老铁们期待已久的快手直播年度盛典"荣耀之夜"，如期在站内相约。 "终于等到了"、"期待唢呐上场"、"来支持我的主播"......在一声声热切的应援中，年度盛典"荣耀之夜"拉开帷幕。来自快手站内各个赛道的优秀主播们，站 在聚光灯下，与顶尖艺人同台表演。 谭晶带领全体表演主播共唱盛典主题曲《荣耀》，在一句句直击内心的歌词与昂扬的曲调中，激起心中热血；赵传与主播宇文泡er、扬帆同台表演《给所有 知道我名字的人》，重新演绎经典老歌、唱出每位主播的心声；薛凯琪与主播对唱《苏州河》，浪漫温婉。 这一刻，不论是一步步从直播间走到更大舞台的主播，还是一路见证主播被越来越多人喜爱的老铁们，都感受到了真挚的共鸣与同一份荣耀。 从2019年底仅有9位主播登台领奖，到如今超百位主播表演、上万名主播获得线上荣誉，7年多的时间，快手直播盛典系列已然成长为一个在站内及行业均有 影响力的标杆IP。 对于快手，直播盛典IP不仅是站内直播内容生态的"晴雨表"，可从中窥见快手直播内容生态的特色，更成为助力主播成长、链接社区情感的重要纽带。在行 业层面，当各类晚会趋于同质的大环境下，这场盛典却以鲜明的"快手范儿"，打造出一 ...

Core Insights - Goldman Sachs reports that the Chinese gaming and entertainment sector experienced significant stock price increases in 2025, with large and mid-cap stocks rising by 50% to 80% compared to the Hang Seng China Enterprises Index's 26% [1] - The report indicates that the strong performance is driven equally by valuation expansion and earnings per share growth [1] - Looking ahead to 2026, the firm believes the risk-reward profile remains attractive, with a focus on "alpha" driven opportunities [1] Group 1: Market Trends - Chinese gaming publishers and content platforms, represented by Tencent Holdings and NetEase, are accelerating their overseas expansion, leveraging capital, talent, and technological capabilities [2] - The global market share of Chinese game manufacturers is expected to increase from the current level of approximately 15% [2] Group 2: AI Impact - AI is seen as a transformative force, reducing production and labor costs while enhancing efficiency and revenue potential, particularly in gaming and advertising sectors [2] - The total addressable market (TAM) for AI-generated film tools is projected to expand tenfold by 2028 [2] Group 3: Investment Recommendations - Goldman Sachs identifies key buy stocks including Tencent, NetEase, Kuaishou, Bilibili, and Tencent Music, with Tencent's core business expected to maintain low to mid-double-digit growth annually [2] - The firm maintains a "buy" rating on Tencent, lowering the target price from HKD 770 to HKD 752 [2]

Summary of Company Buybacks Companies Involved - China Communications Construction Company (01800) - Kuaishou Technology (01024) - SF Holding (06936) - Sunny Optical Technology (02382) - Xiaomi Group (01810) Key Points - **China Communications Construction Company** repurchased 1.267 million A-shares for a total of approximately 10.6379 million CNY on January 19 [1] - **Kuaishou Technology** spent about 29.9604 million HKD to buy back 392,000 shares on January 19 [2] - **SF Holding** repurchased 1.355 million A-shares for approximately 52.343 million CNY on January 19 [3] - **Sunny Optical Technology** repurchased 1.22 million shares for about 78.812 million HKD on January 19 [4] - **Xiaomi Group** repurchased 4 million shares for approximately 146 million HKD on January 19 [5] Additional Important Information - The buyback activities indicate a trend of companies investing in their own shares, which may reflect confidence in their future performance and an effort to enhance shareholder value [6]

Core Viewpoint - Goldman Sachs reports that the Chinese gaming and entertainment sector experienced significant stock price increases in 2025, with mid to large-cap stocks rising by 50% to 80% compared to the Hang Seng China Enterprises Index's 26% [1] Group 1: Market Performance - The strong performance continued into early 2026, with some stocks increasing by as much as 30% compared to related indices' growth of approximately 3-5% [1] - The price increase is attributed to a combination of valuation expansion and earnings per share growth [1] Group 2: Future Outlook - For 2026, Goldman Sachs outlines key themes and debates for the sector, indicating that the risk-reward profile remains attractive but is more alpha-driven [1] - The firm prefers companies with new growth potential, such as those benefiting from AI application penetration and accelerated overseas expansion [1] Group 3: Competitive Landscape - Companies that still have compound growth and profit expansion potential amid increasing competition, particularly with ByteDance raising competitive concerns, are favored [1] - Core buy stocks selected by Goldman Sachs include Tencent, NetEase, Kuaishou, Bilibili, and Tencent Music [1] Group 4: Stock Ratings - Goldman Sachs maintains a "Buy" rating on Tencent, adjusting the target price from HKD 770 to HKD 752 [1]

Core Insights - The article emphasizes the significance of AI in investment decisions, particularly in the context of Chinese internet companies and their overseas revenue potential [2][3]. Group 1: Overseas Revenue of Chinese Internet Companies - Chinese internet companies have an average overseas revenue exceeding 10%, with Pinduoduo leading at 35% [3]. - Companies like Tencent and Alibaba have low to high teens percentages of overseas revenue, indicating a growing trend towards international markets [3]. Group 2: Cloud Computing Sector - Alibaba Cloud and Tencent Cloud are rapidly expanding their international presence, with Alibaba planning new business regions in Brazil, France, and the Netherlands, and Tencent deploying services in 22 regions globally [4]. - Morgan Stanley projects that Alibaba Cloud's revenue growth will exceed 40% by FY2027, while Tencent's enterprise service revenue is expected to grow by 25% by FY2026 [5]. Group 3: Autonomous Driving Services - Baidu's autonomous driving service, "Luobo Kuaipao," is a leader in the sector, achieving over 250,000 weekly orders in fully autonomous mode as of Q3 2025, and has expanded to 22 cities including Dubai and Switzerland [7]. - Despite its leadership, Morgan Stanley anticipates that Baidu's revenue from this service will remain low and require continued investment [9]. Group 4: AI Models and Applications - Alibaba's Tongyi Qianwen model has gained significant traction globally, becoming the most downloaded AI model with over 700 million downloads by January 2026 [11]. - Kuaishou's Keling is expected to generate substantial revenue from overseas markets, with projections indicating an 80% year-on-year growth to reach $270 million by 2026, driven by B2B customer expansion [14].

Core Viewpoint - The Hong Kong capital market has seen a significant increase in refinancing activities at the beginning of 2026, with over HKD 27 billion raised, marking a more than 20-fold increase compared to the same period in 2025, setting a vibrant tone for the year ahead [1][3]. Group 1: Active Refinancing at the Start of 2026 - As of January 18, 2026, Hong Kong-listed companies have raised over HKD 27 billion through various methods such as placements and rights issues, compared to HKD 1.1 billion in the same period of 2025 [1][3]. - The robust refinancing activity is built on the historical high of HKD 325.32 billion in 2025, which surpassed the IPO fundraising scale for the first time [3]. - Major companies like BYD and Xiaomi have completed significant fundraising projects, contributing to a trend of continuous capital replenishment [3]. Group 2: Structural Characteristics of Refinancing - The refinancing activities in early 2026 are characterized by a diverse industry distribution, including sectors like oil and gas, construction, software services, and healthcare [7]. - Notable companies such as SF Express and Jitu Express have raised over HKD 1 billion, indicating a clear differentiation in fundraising scales [7]. - The use of raised funds is closely aligned with core business strategies, including international expansion, technology R&D, and financial structure optimization [7]. Group 3: Advantages of Hong Kong's Refinancing Market - The efficiency of Hong Kong's refinancing system allows companies to quickly seize market opportunities without prior regulatory approval for placements [4]. - The flexible and diverse financing tools available in the Hong Kong market cater to various corporate needs, enhancing the ability to raise funds [5]. - The market's recovery and valuation improvements since Q3 2024 have created a favorable environment for refinancing activities [5]. Group 4: Emerging Trends in Refinancing - The refinancing landscape is evolving, with a notable increase in strategic mutual holdings among companies, exemplified by the collaboration between SF Express and Jitu Express [8]. - The current refinancing structure shows a higher proportion of traditional and consumer industries compared to emerging sectors, highlighting the complementary nature of Hong Kong and A-share markets [8]. - Future trends indicate that refinancing will remain high but with a more stable growth rate, and the focus will shift towards optimizing capital structures and enhancing R&D capabilities [10].

Group 1: Major Developments - 康耐特光学 (02276) and 歌尔光学 plan to establish a joint venture to expand the application market for customized lenses in AI/AR/VR/MR glasses [1] - 圣贝拉 (02508) and 云迹科技 signed a strategic cooperation framework agreement to explore the deep integration and application of artificial intelligence and robotics in high-demand home care scenarios [1] - KKCG Maritime intends to initiate a voluntary conditional partial public acquisition offer to acquire 15.4% of 法拉帝 (09638) shares [1] - 远大医药 (00512) announced that the new drug application for the innovative radiolabeled drug TLX591-CDx has been accepted by the China National Medical Products Administration [1] - 艾美疫苗 (06660) received approval to conduct clinical trials for a 20-valent pneumococcal polysaccharide conjugate vaccine [1] - 中国东方航空股份 (00670) sold the 凯迪克大厦 in Shanghai and related assets to 东航置业 for approximately 134 million yuan [1] - 佑驾创新 (02431) signed a memorandum of understanding with India's leading automotive parts manufacturer STL [1] - 南山铝业国际 (02610) plans to develop electrolytic aluminum and related raw materials and supporting businesses [1] Group 2: Financial Performance - 顺丰控股 (06936) reported a total revenue of 27.339 billion yuan from its express logistics, supply chain, and international businesses in December, representing a year-on-year increase of 3.41% [2] - 美丽田园医疗健康 (02373) issued a profit warning, expecting adjusted net profit for 2025 to be no less than 380 million yuan, a year-on-year increase of at least 40% [2] - 中国太平 (00966) issued a profit warning, anticipating a year-on-year increase of approximately 215% to 225% in shareholder profit for the 2025 fiscal year [2] - 吉宏股份 (02603) issued a profit warning, expecting a net profit attributable to shareholders of approximately 273 million to 291 million yuan for 2025, a year-on-year increase of 50% to 60% [2] - 兖煤澳大利亚 (03668) reported a fourth-quarter coal sales volume of 10.8 million tons, a year-on-year increase of 4% [2] - 兖矿能源 (01171) reported a fourth-quarter commodity coal production of 46.51 million tons, a year-on-year increase of 4.4% [2] - 深圳控股 (00604) projected a total contract sales amount of approximately 13.311 billion yuan for 2025, a year-on-year decrease of 21.55% [2] - 上海石油化工股份 (00338) issued a profit warning, expecting a net loss attributable to shareholders of approximately 1.289 billion to 1.576 billion yuan for 2025, indicating a shift from profit to loss [2] - 上海石油化工股份 (00338) reported gasoline sales revenue of 24.656 billion yuan for 2025 [2]

格隆汇1月19日丨快手-W(01024.HK)公告，1月19日耗资2996万港元回购39.2万股。 快手-W(01024.HK)1月19日耗资2996万港元回购39.2万股 快手-W(01024.HK)：建议发行美元及人民币优 先票据 相关事件 ...