Group 1 - The launch of the 30 billion yuan subsidy project by Alibaba's Qianwen App is expected to benefit the sales of ready-to-drink beverages [2][3] - The first wave of the subsidy activity runs from February 6 to 12, offering users a 25 yuan no-threshold free order card, which can be used at over 300,000 tea and coffee shops nationwide [2] - The second wave starting February 13 will allow users to receive cash red envelopes, with a maximum of 2888 yuan available [2] Group 2 - The activity has seen significant engagement, with over 1 million orders placed within 3 hours and over 10 million orders within 9 hours of launch [3] - The current trend indicates a high level of activity in the ready-to-drink beverage market during the Spring Festival, with ongoing subsidies for delivery services [3] - The competitive landscape in the beverage industry is improving, with a slowdown in price wars and a reduction in the number of new stores opening [4] Group 3 - Recommended companies in the beverage sector include Gu Ming (01364), Mixue Group (02097), Luckin Coffee (LKNCY.US), Cha Bai Dao (02555), and Hu Shang A Yi (02589) [5]

Group 1 - The core event is the launch of Alibaba's "Spring Festival 3 Billion Free Orders" campaign, which generated significant consumer interest and led to a surge in orders, reaching 10 million within 9 hours of launch [1] - The campaign's free order cards were initially set to expire on February 23 but were extended to February 28 to accommodate consumer demand, allowing purchases not only for milk tea but also for various food items [1] - The campaign caused operational chaos in many tea beverage stores across the country, with reports of overwhelmed staff and systems crashing due to the high volume of orders [1][2] Group 2 - The sudden spike in demand positively impacted the stock performance of tea beverage companies, with notable increases in share prices for brands like Cha Bai Dao (up 6.08%) and Gu Ming (up 3.58%) on February 6 [2] - The new tea beverage market has seen a slowdown in growth, with projections indicating a market size exceeding 300 billion yuan by 2025, but growth rates have dropped from over 20% to single digits [3] - External support from major platforms like Alibaba provides a significant boost to tea brands, enhancing brand visibility and customer acquisition at a low cost, which is seen as a profitable opportunity for these companies [4] Group 3 - The promotional activity is part of a broader trend of competition among internet giants for user acquisition, which has implications for the tea beverage industry as it benefits from increased consumer engagement [6][8] - The immediate impact of the subsidy campaign was evident, with over 1 million orders placed through the app within 3 hours of launch [7] - Despite the short-term stock price declines for Alibaba due to the costs associated with the subsidy, analysts suggest that such investments are crucial for long-term user retention and market positioning [9]

Group 1 - Lee & Man Paper (02314) has seen its stock price rise by over 30% year-to-date, with expected profits of approximately HKD 1.88 billion to HKD 2.00 billion in 2025, representing a year-on-year growth of 38% to 47% due to increased marginal profits [1] - Soundon Technology (02495) shares rose over 8.8% after winning a contract worth nearly RMB 300 million for an AI project in Sichuan province [1] - Zhongxin Innovation (03931) stock increased by over 3.8%, with a reported 630% year-on-year growth in commercial battery deliveries in January 2026, indicating a strong market strategy and capacity layout [1] Group 2 - Tea stocks experienced a rise, with Gu Ming (01364) up 4.12%, Cha Bai Dao (02555) up 3.74%, and others benefiting from a promotional campaign offering free milk tea at over 300,000 stores nationwide [2] - Innovent Biologics (09969) shares surged over 11% after announcing expected revenues of RMB 2.37 billion in 2025, a 134% increase, and a projected net profit of around RMB 630 million [2] - Jun Da Holdings (02865) rebounded over 4.6% following news of the U.S. Federal Communications Commission accepting SpaceX's data center application [2] Group 3 - Li Auto-W (02015) shares rose over 5.3% as the CEO teased the new Li L9 model, emphasizing the importance of AI in enhancing vehicle value [3] - JX International Resources (03858) saw a stock increase of over 4.6% as tungsten prices reached a recent high of CNY 1,545,000 per ton, up CNY 25,000 from the previous trading day [3] - Nine Dragons Paper (02689) shares increased by over 5.7% after announcing a profit forecast for FY26H1 of CNY 2.15 billion to CNY 2.25 billion, a year-on-year growth of 216% to 231% [3] Group 4 - Long Resources (01712) stock surged over 35%, reaching a historical high, with expected after-tax profits of AUD 58 million to AUD 62 million for the year ending December 31, 2025, a significant increase from AUD 12.9 million in the previous year [4] Group 5 - Forgent Power Solutions (FPS.US) debuted on the U.S. stock market with a closing increase of 7.41%, focusing on power solutions for data centers [5] - Bob's Discount Furniture (BOBS.US) also entered the market, with a slight increase of 0.12%, managing 206 showrooms across 26 states and projecting revenues of USD 2.32 billion for FY2025 [5] Group 6 - Eikon Therapeutics (EIKN.US) fell over 16.67% on its Nasdaq debut, focusing on cancer therapies with a candidate drug in mid-stage trials [6] - Cryptocurrency stocks saw significant declines, with Hut 8 (HUT.US) down 17.89% and others following suit amid a Bitcoin sell-off, which dropped nearly 10% [6] Group 7 - Major U.S. indices opened lower, with the Nasdaq down 1.6%, and notable tech stocks like Amazon (AMZN.US) and Tesla (TSLA.US) also declining [7] - Estée Lauder (EL.US) dropped nearly 19.19% despite meeting sales expectations, reflecting market volatility [7] Group 8 - NIO (NIO.US) shares rose 5.86% after announcing an expected adjusted operating profit of between RMB 700 million and RMB 1.2 billion for Q4 2025, marking its first quarterly adjusted operating profit [8] - Hims & Hers Health (HIMS.US) initially surged nearly 14% before closing down 3.77%, launching a new generic medication at a competitive price [9] - Qualcomm (QCOM.US) fell 8.46% amid concerns over weak earnings forecasts related to chip shortages affecting smartphone demand [9]

Group 1 - The Hang Seng Index fell by 1.13%, down 304 points, closing at 26,580 points, while the Hang Seng Tech Index decreased by 0.47% [1] - Three new stocks were listed: Dazhu CNC (03200) rose by 18%, Muyuan Foods (02714) increased by 4.72%, and Zhuozheng Medical (02677) surged by 34% [1] - Zhongxin Hang (03931) saw a 3.83% increase, with a 630% year-on-year growth in commercial battery deliveries and plans for full circulation of H-shares [1] - Long Resources (01712) experienced a 30% intraday surge, with expected net profit growth of up to 3.8 times year-on-year [1] - Changfei Optical Fiber (06869) rose over 10%, with institutions optimistic about fiber optic manufacturers benefiting from price increases [1] - Nuo Cheng Jianhua (09969) increased by over 11%, achieving profitability for the first time due to the volume of Obutinin and growth in BD revenue [1] - Nine Dragons Paper (02689) rose over 5%, benefiting from improved self-sufficiency in wood pulp and favorable industry supply-demand dynamics [1] - Jiaxin International Resources (03858) increased by over 5%, supported by supply contraction driving up tungsten prices [1] Group 2 - Fuhong Hanlin (02696) rose over 5% after licensing rights to Hanshuo in Japan to Eizai for a total transaction amount of approximately $388 million [2] Group 3 - Tongda Group (00698) increased by over 6%, expecting to turn a profit with a maximum earnings forecast of 125 million HKD for the previous year [3] - NIO-SW (09866) rose over 5%, marking its first quarterly profit with an expected adjusted operating profit of up to 1.2 billion CNY for the last quarter [3] - Cryptocurrency ETFs and related stocks continued to decline, with Bitcoin dropping below $65,000 amid ongoing sell-offs in the crypto market [3]

银河证券此前指，考虑阿里此前官宣2026年将为争夺即时零售市场份额继续投入大量资源，预计外卖补 贴退坡幅度将好于市场预期。国金证券认为，在行业集中度持续提升、同质化竞争加剧的趋势下，具备 供应链规模化、能够精准快速捕捉用户需求的产品优势、品牌优势的头部连锁品牌，在拓店和单店运营 中将占据明显优势。 茶饮股震荡走高，截至发稿，古茗(01364)涨5.48%，报31.2港元；茶百道(02555)涨3.9%，报6.66港元； 沪上阿姨(02589)涨2.42%，报88.7港元；奈雪的茶(02150)涨0.93%，报1.09港元。 消息面上，今日，"千问春节请客计划"正式上线，首轮免单活动送奶茶。根据千问官方介绍，首轮免单 卡可在全国30多万家奶茶店使用，奶茶店品牌包括喜茶、奈雪、瑞幸、一点点、霸王茶姬和古茗等。据 悉，此次千问30亿春节请客计划，在阿里历史上的春节活动中投入最大，在今年春节大厂AI大战中投 入金额也最高。数据显示，活动上线不到3小时，通过千问App下单的奶茶已超过100万单。 ...

Core Viewpoint - The tea beverage stocks are experiencing a notable increase, driven by the launch of the "Qianwen Spring Festival Treat Plan," which offers free milk tea and is expected to significantly boost sales in the sector [1] Group 1: Stock Performance - Gu Ming (01364) shares rose by 5.48%, reaching HKD 31.2 [1] - Cha Bai Dao (02555) shares increased by 3.9%, reaching HKD 6.66 [1] - Hu Shang A Yi (02589) shares grew by 2.42%, reaching HKD 88.7 [1] - Nai Xue's Tea (02150) shares saw a slight increase of 0.93%, reaching HKD 1.09 [1] Group 2: Market Activity - The "Qianwen Spring Festival Treat Plan" has launched with a first round of free milk tea, applicable at over 300,000 tea shops nationwide, including brands like Heytea, Nai Xue, Luckin, and Gu Ming [1] - The plan represents the largest investment in Alibaba's history for a Spring Festival activity, with a total budget of 3 billion [1] - Within three hours of the launch, over 1 million milk tea orders were placed through the Qianwen App [1] Group 3: Industry Insights - Galaxy Securities anticipates that Alibaba will continue to invest heavily in the instant retail market, predicting that the decline in delivery subsidies will be less severe than market expectations [1] - Guo Jin Securities notes that leading chain brands with advantages in supply chain scalability and the ability to quickly capture user demand will have a significant edge in store expansion and single-store operations amid increasing industry concentration and intensified competition [1]

Group 1 - The new consumption concept stocks in the Hong Kong market are showing localized strength, with notable gains in specific companies [1] - "Hushang Auntie" (02589.HK) has increased by over 4%, indicating positive market sentiment [1] - Other companies such as NIO-SW (09866.HK), Weilong (09985.HK), Cha Bai Dao (02555.HK), and Gu Ming (01364.HK) have also experienced upward movement in their stock prices [1]

Core Viewpoint - The new consumption concept stocks in the Hong Kong market are showing localized strength, with several companies experiencing notable gains [1] Group 1: Stock Performance - "沪上阿姨" (Hushang Auntie, 02589.HK) has risen over 4% [1] - Other stocks such as "蔚来-SW" (NIO, 09866.HK), "卫龙" (Weilong, 09985.HK), "茶百道" (Chabaidao, 02555.HK), and "古茗" (Guming, 01364.HK) are also seeing upward movement [1]

Group 1 - The Hong Kong stock market saw a rise in new consumer stocks, with Pop Mart leading the gains at nearly 5% [1] - Other notable performers included Blukoo, Maogeping, and Guming, which all rose over 3% [1] - Companies such as Laopu Gold, Shangmei Group, Mixue Group, Miniso, Weilon Delicious, and others also experienced increases of over 2% [1] Group 2 - Pop Mart's stock rose by 4.81%, reaching a latest price of 248.600, with a total market capitalization of 333.08 billion and a year-to-date increase of 32.45% [2] - Blukoo's stock increased by 3.84%, with a latest price of 72.950 and a market cap of 18.13 billion, showing a year-to-date rise of 8.96% [2] - Maogeping's stock rose by 3.83%, priced at 89.350, with a market cap of 43.798 billion and a year-to-date increase of 9.36% [2] - Guming's stock increased by 3.58%, with a latest price of 29.500 and a market cap of 70.156 billion, reflecting a year-to-date rise of 19.05% [2] - Laopu Gold's stock rose by 2.91%, priced at 759.500, with a market cap of 134.237 billion and a year-to-date increase of 22.90% [2] - Shangmei Group's stock increased by 2.92%, with a latest price of 67.000 and a market cap of 26.673 billion, showing a year-to-date decline of 7.97% [2] - Mixue Group's stock rose by 2.80%, priced at 396.600, with a market cap of 150.557 billion, reflecting a year-to-date decline of 3.22% [2] - Miniso's stock increased by 2.43%, with a latest price of 37.100 and a market cap of 44.916 billion, showing a year-to-date increase of 1.92% [2] - Weilon Delicious's stock rose by 2.63%, priced at 12.470, with a market cap of 30.316 billion and a year-to-date increase of 10.84% [2] - Hushang Ayi's stock increased by 1.28%, with a latest price of 86.750 and a market cap of 9.126 billion, reflecting a year-to-date increase of 1.34% [2] - Chazhidao's stock rose by 1.11%, priced at 6.370, with a market cap of 9.413 billion, showing a year-to-date decline of 3.19% [2] - Wuwu Hen Mang's stock increased by 0.90%, with a latest price of 403.000 and a market cap of 86.851 billion, reflecting a year-to-date increase of 70.33% [2]

Group 1 - The Hong Kong stock market saw new consumer stocks rise against the trend, with Pop Mart leading the gains at nearly 5% [1] - Other notable gainers included Blukoo, Maogeping, and Gu Ming, which rose over 3% [1] - Additional companies such as Laopu Gold, Shangmei, Mixue Group, Miniso, Weilon Delicious, and others experienced increases of over 2% [1] Group 2 - Pop Mart's stock increased by 4.81%, reaching a latest price of 248.600, with a total market capitalization of 333.08 billion and a year-to-date increase of 32.45% [2] - Blukoo's stock rose by 3.84% to a price of 72.950, with a market cap of 18.131 billion and a year-to-date increase of 8.96% [2] - Maogeping's stock increased by 3.83%, reaching 89.350, with a market cap of 43.798 billion and a year-to-date increase of 9.36% [2] - Gu Ming's stock rose by 3.58% to 29.500, with a market cap of 70.156 billion and a year-to-date increase of 19.05% [2] - Laopu Gold's stock increased by 2.91% to 759.500, with a market cap of 134.237 billion and a year-to-date increase of 22.90% [2] - Shangmei's stock rose by 2.92% to 67.000, with a market cap of 26.673 billion and a year-to-date decrease of 7.97% [2] - Mixue Group's stock increased by 2.80% to 396.600, with a market cap of 150.557 billion and a year-to-date decrease of 3.22% [2] - Miniso's stock rose by 2.43% to 37.100, with a market cap of 44.916 billion and a year-to-date increase of 1.92% [2] - Weilon Delicious's stock increased by 2.63% to 12.470, with a market cap of 30.316 billion and a year-to-date increase of 10.84% [2] - Hushang Ayi's stock rose by 1.28% to 86.750, with a market cap of 9.126 billion and a year-to-date increase of 1.34% [2] - Chabaidao's stock increased by 1.11% to 6.370, with a market cap of 9.413 billion and a year-to-date decrease of 3.19% [2] - Wuwu Hen Mang's stock rose by 0.90% to 403.000, with a market cap of 86.851 billion and a year-to-date increase of 70.33% [2]