Core Viewpoint - The article emphasizes the importance of protecting the rights of new employment form workers and the social responsibilities of platform companies, highlighting that cost-cutting should not come at the expense of labor rights [1][4][6]. Group 1: Current Situation of New Employment Form Workers - There are currently 84 million new employment form workers in China, accounting for 21% of the total workforce, and this number exceeds 240 million when including flexible employment [1][2]. - These workers are essential for urban operations, providing timely delivery services and supporting consumer habits, especially during critical times [2][6]. Group 2: Challenges Faced by Workers - Workers face difficulties in labor relationship recognition, as many platforms do not sign contracts directly with them, opting for third-party outsourcing or individual business registrations [2][3]. - There is insufficient social security coverage, with many workers lacking essential protections like work injury insurance [2][3]. - The use of algorithms by platforms leads to exploitation, as workers have no control over their assignments and routes [2][3]. - Income instability is prevalent, with platforms having the ability to adjust pay rates without workers' input, limiting their bargaining power [2][3]. - High risks of occupational injuries exist, particularly for delivery workers who are often involved in traffic accidents [2][3]. Group 3: Recommendations for Improvement - Companies should ensure contracts are signed to clarify rights and obligations, avoiding loopholes that obscure employment relationships [4]. - Social security contributions, including work injury insurance, should be mandatory, with flexible payment options explored [4]. - Timely and full payment of wages must be enforced, ensuring that piecework pay meets local minimum wage standards [4]. - Safe working conditions should be prioritized, including compliance with safety standards for vehicles and appropriate measures during adverse weather [4]. - Workers' rights to rest must be protected, with regulations on maximum working hours established [4]. - Establishing unions for new employment form workers is crucial for collective bargaining and rights protection [4]. - A streamlined dispute resolution mechanism should be implemented to lower barriers for workers seeking to assert their rights [4]. Group 4: Societal Attitude and Regulatory Signals - There is a need to change societal perceptions of new employment form workers, recognizing their contributions and ensuring their dignity as workers [5]. - The recent administrative guidance from seven government departments to 16 platform companies signals a heightened regulatory focus on protecting the rights of these workers [6].

Group 1: Southbound Capital Movements - Southbound capital net bought Hong Kong stocks worth 84.6567 million HKD on February 10, with significant net purchases in Meituan-W (545 million HKD), CNOOC (420 million HKD), SMIC (376 million HKD), and others [1] - Xiaomi has seen continuous net buying for 9 days, totaling 4.0236 billion HKD, while Alibaba has had 5 days of net buying amounting to 4.59095 billion HKD [3] Group 2: Industry Insights - Longi Green Energy reports a moderate increase in fiber optic prices over the past six months, driven by a supply-demand reversal due to AI data center construction, leading to a supply shortage [4] - According to Zhongyin International, Wenwen Group has over ten works with over 100 million views and over 80 works with over 10 million views, indicating a potential acceleration in industry growth with the release of Seedance 2.0 [4] - Huifu Global Research predicts that the rapid growth driven by Labubu will fade, but platform capabilities will persist, with UBS noting that new IP Twinkle has a strong start in early 2026, providing a growth observation window [4] Group 3: Copyright Protection in AI Content - Fubo Group is positioned to benefit from the rise of AI video content, leveraging its Vobile MAX rights confirmation and revenue-sharing platform to create a full-chain solution for copyright protection in the AI content era [5]

Market Overview - The Hang Seng Index rose by 0.58% to close at 27,183.15 points, while the Hang Seng Tech Index increased by 0.62% to 5,451.03 points, and the National Enterprises Index climbed by 0.81% to 9,242.75 points [1] - The index opened at 27,202.96 points, initially rising before retreating, and ultimately gained 155.99 points with a total turnover exceeding 234 billion HKD [1] - There were 1,344 advancing stocks, 923 declining stocks, and 896 stocks closing flat by midday [1] - The net inflow for the southbound trading (Hong Kong Stock Connect) was 84.7 million HKD [1] Sector Performance - Most sectors experienced gains, including chips, optical communications, biomedicine, new energy vehicles, oil and gas, banking, aviation, and port transportation [1] - Mixed performance was noted in new consumption, non-ferrous metals, and brokerage sectors, while gold, technology, real estate, and electricity sectors mostly declined [1] Individual Stock Movements - Notable stock movements included Pop Mart rising by 4.90%, Longi Green Energy increasing by 8.88%, Xiaomi Group up by 1.08%, and SMIC gaining 1.71% [1] - China Ping An rose by 0.62%, AIA fell by 0.52%, Zijin Mining increased by 2.52%, and Tianzuo Zhixin surged by 12.40% [1] - COSCO Shipping Energy rose by 5.49%, Zhihui gained 14.81%, and Rongchang Biotech increased by 3.64% [1] - HSBC Holdings rose by 0.72%, Industrial and Commercial Bank of China increased by 0.77%, and China Petroleum gained 1.64% [1] Top Traded Stocks - Tencent Holdings saw a decline of 1.61% with a turnover exceeding 16.1 billion HKD; Alibaba rose by 1.65% with a turnover over 9.3 billion HKD; Meituan fell by 2.47% with a turnover of 6.6 billion HKD [2]

Core Viewpoint - Various online shopping platforms and delivery companies are announcing "no holiday" services during the Spring Festival, with slight increases in delivery fees to ensure service and support for frontline delivery personnel [1][5]. Group 1: Delivery Fee Adjustments - Sam's Club will charge an additional 3 yuan per order for online deliveries from February 11 to February 24 due to tight delivery capacity during the Spring Festival [1]. - Dingdong Maicai will also implement an extra 3 yuan service fee for orders placed from February 15 to February 21, maintaining the same practice as previous years [4][5]. - Hema will charge a base delivery fee of 6 yuan for all online orders during the period from February 14 to February 21, with additional fees for overweight items [1]. Group 2: Support for Delivery Personnel - Dingdong Maicai plans to ensure stable delivery capacity during the Spring Festival through scientific scheduling and various incentive policies for delivery personnel [5]. - Meituan will launch a New Year support and subsidy plan for delivery personnel who work during the Spring Festival, with potential earnings exceeding 10,000 yuan in major cities [5]. - Taobao Flash Sale is set to invest nearly 2 billion yuan to provide holiday rewards for delivery personnel [6]. Group 3: Resource Adjustment Fees - SF Express will implement a resource adjustment fee ranging from 0.1 to 1.5 yuan per kilogram for certain shipments over 20 kilograms from January 19 to February 15, and additional fees during the holiday period [6]. - DeBang Express will charge a resource adjustment fee of 0.2 to 0.5 yuan per kilogram for specific customers and products from January 19 to February 14, with further fees during the holiday [6]. - JD Logistics will also impose peak resource adjustment fees during the Spring Festival holiday from February 16 to February 23 [6].

沪港通（南向）十大活跃成交公司 智通财经APP获悉，2026年2月10日当天，腾讯控股(00700)、阿里巴巴-W(09988)、长飞光纤光缆 (06869)位居沪港通（南向）成交额前3位，成交额分别为52.29 亿元、26.52 亿元、20.61 亿元；腾讯控 股(00700)、阿里巴巴-W(09988)、长飞光纤光缆(06869) 位居深港通（南向）成交额前3位，成交额分别 为42.37 亿元、21.69 亿元、12.08 亿元。 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 腾讯控股(00700) | 42.37 亿元 | -6.49 亿元 | | 阿里巴巴-W(09988) | 21.69 亿元 | -2.70 亿元 | | 长飞光纤光缆(06869) | 12.08 亿元 | +4.08 亿元 | | 中芯国际(00981) | 11.61 亿元 | -1.74 亿元 | | 泡泡玛特(09992) | 11.07 亿元 | -1.51 亿元 | | 美团-W(03690) | 10.28 亿元 | +1.83 亿元 | | 快手-W(01024) | 9 ...

"春节前两周开始，店里全天都是满的，从开门到晚上11点都有消费者烫头发"、"和朋友一起约了个新年美甲，都要提前一周预 订。"近日，记者从上海一家理发店和美甲店看到的现象，正是当下春节前服务消费火热的真实写照。 春节将至，年味渐浓，多个服务零售行业迎来全年消费高峰。春节前一周，美团发布服务消费趋势前瞻。传统的"美丽三件 套"在节前迎来爆发式增长，美团数据显示，新年发型、美甲、睫毛等热度大涨，多个关键词搜索量翻倍；AI黑科技、KTV娱乐 综合体发展给老行业带来新增量，从腊八节开始，KTV交易规模同比增长近三成，预订订单量同比去年明显上涨；受春节返乡 聚会场景带动，中小城市KTV春节期间预订超3成；春节出行高峰来临，"宠物上门喂养"近两周搜索量环比增长翻倍。上海、北 京、深圳、成都、杭州、武汉、广州、西安、长沙、重庆成全国休闲玩乐交易规模前十城市。 ▲美团全新功能"宠物上门喂养在线预约"正式上线 图源：美团App AI时代，服务零售中的传统业态也不断升级新玩法，"老行业"迎来消费新高峰。比如，本以为"过时"的KTV行业也成了春节服 务消费"黑马"。当前，不少KTV已然发展成为综合娱乐空间，从融入特色美食、剧本娱乐、 ...

格隆汇2月10日｜南下资金今日净买入港股8465.67万港元。其中： 净买入美团-W 5.45亿、中国海洋石油4.2亿、中芯国际3.76亿、长飞光纤光缆2.87亿、小米集团-W 2.03亿、阅文集团1.63亿、阿里巴巴-W 1.6亿； 净卖出腾讯控股14.02亿、泡泡玛特2.34亿、招金矿业2.2亿。 据统计，南下资金已连续9日净买入小米，共计40.236亿港元；连续5日净买入阿里，共计45.9095亿港元；连续3日净买入中芯国际，共计9.7441亿港元。(格 隆汇) | 近60日南下净买入(亿) | | --- | | 名称 | 涨跌幅 | 净买入额(亿) | 成交额 | 名称 | | --- | --- | --- | --- | --- | | 腾讯控股 | -1.6% | -7.53 | 52.29亿 | 腾讯控股 | | 阿里巴巴-W | 1.7% | 4.31 | 26.52亿 | 阿里巴巴-W | | 长飞光纤光缆 | 8.9% | -1.21 | 20.61 亿 | 长飞光纤光缆 | | 美团-W | -2.5% | 3.63 | 19.74亿 | 中芯国际 | | 泡泡玛特 | 4.9% | ...

Group 1: Market Overview - Northbound trading recorded a net buy of 0.85 billion HKD, with Shanghai Stock Connect contributing a net buy of 11.03 billion HKD and Shenzhen Stock Connect showing a net sell of 1.19 billion HKD [1] - The most bought stocks by northbound investors included Meituan-W (03690), CNOOC (00883), and SMIC (00981), while Tencent (00700) faced the highest net sell [1] Group 2: Individual Stock Performance - Meituan-W (03690) saw a net buy of 5.45 billion HKD, driven by its acquisition of Dingdong Maicai's China business for approximately 7.17 billion USD, indicating a significant shift in the domestic fresh food instant retail landscape [4][5] - CNOOC (00883) received a net buy of 4.2 billion HKD, supported by a report indicating a 3.5% week-on-week decline in US crude oil production due to cold weather, which is expected to influence oil prices [5] - SMIC (00981) had a net buy of 3.76 billion HKD, with a projected sales revenue of 2.489 billion USD for Q4 2025, reflecting a 4.5% quarter-on-quarter increase and a 16.2% year-on-year growth for the full year [5] - Longi Green Energy (06869) attracted a net buy of 2.87 billion HKD, as the bidding for a special optical cable procurement project by China Mobile has been completed, indicating a rising trend in optical fiber prices [5] - Xiaomi Group-W (01810) and Alibaba-W (09988) received net buys of 2.03 billion HKD and 1.6 billion HKD, respectively [8] - Tencent (00700) experienced a significant net sell of 14.02 billion HKD, indicating a bearish sentiment among investors [8] Group 3: Other Notable Stocks - Yueda Group (00772) gained a net buy of 1.63 billion HKD, with the CEO highlighting the increasing value of original content in the context of rapid AI development [6] - Fubo Group (03738) saw a net buy of 882 million HKD, benefiting from the global surge in AI video applications and copyright protection investments [7]

Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced a net inflow of 0.85 billion HKD from northbound trading, with significant activity in specific stocks such as Meituan, CNOOC, and SMIC, while Tencent faced notable net selling [1][8]. Group 1: Stock Performance - Meituan-W (03690) had a net inflow of 5.45 billion HKD, driven by its acquisition of Dingdong Maicai's China business for approximately 7.17 billion USD, indicating a significant shift in the domestic fresh food retail landscape [4][5]. - CNOOC (00883) saw a net inflow of 4.2 billion HKD, supported by a report indicating a 3.5% week-on-week decline in U.S. crude oil production due to cold weather, which is expected to influence oil prices [5]. - SMIC (00981) recorded a net inflow of 3.76 billion HKD, with projected sales revenue of 2.489 billion USD for Q4 2025, reflecting a 4.5% quarter-on-quarter increase and a 16.2% year-on-year growth for the full year [5]. - Xiaomi Group-W (01810) and Alibaba-W (09988) received net inflows of 2.03 billion HKD and 1.6 billion HKD, respectively [8]. Group 2: Market Trends and Insights - The fiber optic cable market is experiencing a price increase, with Longi Fiber Optic (06869) receiving a net inflow of 2.87 billion HKD, as the procurement project by China Mobile for special fiber optic products has concluded [5]. - The AI sector is gaining traction, with companies like Yueda Group (00772) receiving a net inflow of 1.63 billion HKD, as the CEO emphasized the increasing value of original content in the context of rapid AI development [6]. - Fubo Group (03738) attracted a net inflow of 882 million HKD, benefiting from advancements in AI video generation technology, which is expected to enhance content protection investments [7].

Group 1 - The net inflow of southbound funds today was HKD 0.85 billion [1] - Tencent Holdings and Pop Mart experienced net outflows of HKD 14.02 billion and HKD 2.35 billion respectively [1] - Meituan-W and China National Offshore Oil Corporation received net inflows of approximately HKD 5.46 billion and HKD 4.20 billion respectively [1]