中信建投指出，从金价来看，截至2月13日大盘金价1108.92元/克，较上次提价宣布日(10月17日， 997.17元/克)上涨11.2%，同时由于增值税成本增加，参考周大福金价，2月18日较10月17日上涨17.2%。 当前老铺素金、镶嵌类产品克均价格分别约1600-1700元/克、2100-2200元/克(以金重计，折扣前)，考虑 公司锚定40%的目标毛利率，该行预计本次调价幅度在15%-20%。 消息面上，2月18日，老铺黄金宣布将于2月28日开展产品价格调整。据了解，老铺黄金产品均为一口价 模式销售，通常每年调价2-3次，上次调价为2025年10月26日。 智通财经APP获悉，老铺黄金(06181)早盘跌超6%，截至发稿，跌6.2%，报741港元，成交额2.09亿港 元。 ...

当买一枚金葫芦需要像抢票一样拼手速时，黄金的定价逻辑已经发生变化。 春节假期尾声，老铺黄金排队买金的景象在多地出现。北京国贸、广州太古汇，以及香港海港城等地， 清晨的老铺黄金门店外都排起了长队。有人凌晨4点起床，有人跨城前往。线上，消费者实时刷新排号 进度；线下，队伍在商场开门前就已成形。 在尚未开设门店的济南、青岛等城市，消费者的情绪则被转化为另一种稀缺焦虑。在社交平台上，不少 山东消费者无奈抱怨："希望老铺能来济南，现在想买，都得去外地。"有人在评论区交流此前坐高铁去 北京"当天来回"的购金攻略。 触发这波购金潮的，是一则简短的调价公告。2月18日，老铺黄金宣布月底启动年内首次调价。公告未 披露具体涨幅，但市场预期在10%到15%之间。热门款式单价通常过万元，晚几天买，可能要多花几千 元。 值得关注的是，涨价在这个品牌身上形成了明确的购买预期。 老铺黄金实行"一口价"。它的价格不随每日金价波动，而是在特定时间点统一调整。消费者不再盯国际 金价，而是盯品牌的调价动作。价格变化有了确定的时间表，赶在涨价前买入，就成了一种自然的选 择。 谁在为"一口价"的连年上涨买单？ 黄金消费向来有"买涨不买跌"的心理。老铺 ...

Group 1 - The stock of Old Poo Gold (06181.HK) experienced a significant decline, dropping over 5% in early trading on February 20, before narrowing its losses to a 4% decrease, trading at 756 HKD at the time of reporting [1]

Group 1 - The Chinese Consulate in Sapporo has advised Chinese citizens to avoid traveling to Japan following an incident where a Hong Kong resident was assaulted in Sapporo [8] - As of the end of 2025, H&H International Investment, managed by Duan Yongping, has a total portfolio value of approximately $17.489 billion, equivalent to over 120 billion RMB [13] - International crude oil futures saw a significant increase, with WTI crude oil rising by 4.59% to $65.19 per barrel, and Brent crude oil increasing by 4.35% to $70.35 per barrel [4][20] Group 2 - The U.S. stock market indices closed higher, with the Nasdaq up 0.78%, S&P 500 up 0.56%, and Dow Jones up 0.26%, driven by gains in major tech stocks [3] - The market for gold and silver also saw increases, with spot gold rising by 2.08% to $4,979.56 per ounce and spot silver increasing by 5.04% to $77.2335 per ounce [4] - The State Council's Safety Committee and the Ministry of Emergency Management have emphasized the need for strict safety regulations regarding fireworks to prevent accidents [6] Group 3 - Several domestic gold jewelry brands have reduced their prices below 1,500 RMB per gram, with Chow Tai Fook and Lao Miao Gold both pricing at 1,499 RMB per gram [7] - On February 17, the total cross-regional movement of people in China reached 22.4182 million, a 15.5% increase from the previous day and a 9.4% increase compared to the same day last year [7]

Group 1 - The Hang Seng Index (HSI) will expand from 88 to 90 constituent stocks, adding CATL, Luoyang Molybdenum, and Laopuhuang Gold, while removing Zhongsheng Holdings [3][4] - Laopuhuang Gold will be classified under "Consumer Discretionary and Staples," with an initial weight of approximately 0.29%, while Alibaba's weight will return to 8% after adjustments [3] - The overall weight of the "Energy, Materials, Industrial, and Conglomerates" sector will increase from 10.03% to 10.90% due to the inclusion of CATL and Luoyang Molybdenum [4] Group 2 - The Hang Seng Composite Index will grow from 507 to 532 stocks, adding 53 new stocks including Woan Robotics and JD Industrial, while removing 28 stocks [6] - The recent sell-off of tech stocks has affected the Hong Kong market, with major players like Tencent and Alibaba experiencing significant declines in Q4 2025, necessitating a rebalancing of their weights [4][8] - The adjustment reflects a structural change in the Hong Kong market, reducing reliance on traditional financial and real estate sectors while increasing exposure to new economy and high-end manufacturing [8]

Market Overview - On February 16, the last trading day before the Spring Festival, Hong Kong stocks experienced a V-shaped rebound, with the Hang Seng Index rising by 0.52% after a drop of over 0.6% during the session [1][11] - The Hang Seng Technology Index increased by 0.13%, recovering from a decline of more than 1.9%, while the National Enterprises Index rose by 0.42% after a drop of over 0.8% [1][11] - Resource stocks led the gains, with Luoyang Molybdenum rising over 6%, and Zijin Mining and Ganfeng Lithium both increasing by over 4% [1][11] AI Application Sector - The AI application sector saw significant gains, with Haizhi Technology Group rising nearly 30%, MINIMAX-WP increasing by over 24%, and Maiyue Technology up by over 10% [3][13] - Other notable performers included Fubo Group, which rose by over 8%, and Zhipu, which increased by 4.74% [3][13] Precious Metals Sector - The precious metals sector, particularly gold stocks, showed strong performance, with Luoyang Molybdenum and Laopu Gold both rising over 6%, and Lingbao Gold increasing nearly 5% [6][16] - The international gold price rebounded above $5,000 per ounce after a significant drop the previous week [17][18] Oil and Gas Sector - The oil and gas sector also performed well, with CNOOC rising nearly 4%, and Sinopec Oilfield Services and CNOOC Services both increasing by over 2% [19][20] - The recent fluctuations in international oil prices are influenced by geopolitical tensions, particularly between the US and Iran, which have led to a premium on oil prices [20][21] Summary of Key Stocks - Notable stocks in the AI sector include: - Haizhi Technology Group: 29.59% increase [4][14] - MINIMAX-WP: 24.56% increase [4][14] - Maiyue Technology: 10.11% increase [4][14] - In the precious metals sector: - Luoyang Molybdenum: 6.35% increase [7][17] - Laopu Gold: 6.64% increase [7][17] - In the oil sector: - CNOOC: 4.21% increase [20]

Market Overview - The Hong Kong stock market experienced a half-day trading session on February 16, with all three major indices opening lower but recovering. The Hang Seng Index closed up 0.52% at 26,705.94 points, with a total turnover of 849.97 billion HKD. The Hang Seng Tech Index rose 0.13%, while the Hang Seng China Enterprises Index increased by 0.42% [1] - For the year of the Snake, the Hang Seng Index has gained over 32%, the Hang Seng Tech Index has risen over 13%, and the China Enterprises Index has increased by over 23% [1] Blue Chip Performance - Zijin Mining (02899) led the blue-chip stocks, rising 4.67% to 43.52 HKD, contributing 18.71 points to the Hang Seng Index. Citigroup raised its target prices for Zijin's A-shares and H-shares by over 30% due to increased gold and lithium price forecasts and higher gold sales [2] - Other notable blue-chip performers included China Hongqiao (01378) up 3.92%, CNOOC (00883) up 3.71%, while HSBC Holdings (00005) fell 1.11% [2] Sector Highlights - The technology sector showed mixed results, with Alibaba down 0.45%, Baidu up over 1%, and Tencent up 0.19%. The storage chip sector saw significant price increases, with companies like Lianqi Technology and Zhaoyi Innovation reaching new highs [3] - The storage chip price surge is expected to improve profitability across the NAND industry, with Kioxia projecting a 50% increase in average selling prices starting Q1 2026. Morgan Stanley estimates Kioxia's adjusted gross margin will reach 66% in Q1 [3] - The large model AI sector also saw significant gains, with MINIMAX (00100) up 24.56% and Zhipu AI (02513) up 4.74%. MINIMAX launched a new flagship programming model, while Zhipu announced a price increase for its AI programming subscription [4] Commodity and Energy Stocks - The non-ferrous metals sector experienced broad gains, with Luoyang Molybdenum (03993) up 6.35%, China Nonferrous Mining (01258) up 5.55%, and Zijin Mining (02899) also contributing to the sector's performance [4] - The oil and shipping sectors remained active, with rising sentiments among shipowners due to geopolitical tensions, leading to higher freight rates [10] Recent Developments - The Hang Seng Index Company announced its quarterly review results, with companies like CATL, Luoyang Molybdenum, and Laopuhuang being added to the Hang Seng Index, increasing the number of constituent stocks from 88 to 90 [7] - Haizhi Technology Group (02706) saw a significant rise of 29.59% on its second day of trading, attributed to its focus on AI solutions and rapid revenue growth [8] - Fubo Group (03738) also experienced an 8.22% increase, driven by the popularity of its new copyright management platform [9]

Market Overview - The Hong Kong stock market opened slightly lower on February 16, with the Hang Seng Index down by 0.25%, the Hang Seng Tech Index down by 0.19%, and the Hang Seng China Enterprises Index down by 0.08% [1] - The market experienced a downward trend, with the Hang Seng Tech Index seeing a decline of nearly 2% at one point, although the losses narrowed by the time of reporting [1] Index Performance - As of the latest update, the Hang Seng Index decreased by 0.41%, the China Enterprises Index fell by 0.62%, and the Hang Seng Tech Index dropped by 1.58% [2] - The Hang Seng Tech Index reached a high of 5351.270 and a low of 5253.640, with a trading volume of 171 million shares [2] Sector Performance - The precious metals, semiconductor, and oil & petrochemical sectors showed strength against the market trend, while sectors such as defense, consumer discretionary, and hardware equipment struggled [2] - The non-ferrous metals sector led the market, with notable gains from companies like Luoyang Molybdenum, which rose over 7%, and Lingbao Gold, which increased by over 6% [4][5] Notable Stocks - Luoyang Molybdenum's stock price increased by 7.55% to HK$23.360, while Lingbao Gold rose by 6.73% to HK$25.360 [5] - Other companies in the non-ferrous metals sector, such as China Nonferrous Mining and Shandong Gold, also saw significant gains [5] AI and Semiconductor Sector - The AI application sector opened higher, with stocks like Fubo Group rising over 10% and MINIMAX-WP increasing by nearly 6% [8][9] - The semiconductor sector experienced a sharp rise, with stocks like North Microelectronics increasing by over 17% and Lanke Technology rising by over 13% [12][13] Upcoming Changes in Index Composition - The Hang Seng Index will increase its constituent stocks from 88 to 90, adding Ningde Times, Luoyang Molybdenum, and Laopuguojin, while removing Zhongsheng Holdings, effective March 9 [7]

Core Viewpoint - The Hang Seng Index Company announced the results of its quarterly review for the Hang Seng Index series, with significant changes set to take effect in March 2026, including the inclusion of Ningde Times, Luoyang Molybdenum, and Laopu Gold as constituent stocks, increasing the total number of constituents from 88 to 90 [1] Group 1: Company Performance - Laopu Gold (06181) saw a rise of 7.24%, trading at 792 HKD [1] - Luoyang Molybdenum (603993) increased by 6.54%, reaching 23.14 HKD [1] - Ningde Times (300750) experienced a gain of 3.48%, priced at 535.5 HKD [1] Group 2: Index Changes - The Hang Seng Index series will see its constituent stocks increase from 88 to 90 [1] - The changes will be implemented after the market closes on March 6, 2026, and will take effect on March 9, 2026 [1] - The inclusion of these companies is expected to enhance their visibility and potentially attract more investment [1]

Core Viewpoint - The announcement by Hang Seng Index Company regarding the quarterly review results for the Hang Seng Index series indicates that companies such as Ningde Times, Luoyang Molybdenum, and Laopu Gold will be included in the index, leading to a positive market reaction with significant stock price increases for these companies [1] Group 1: Company Performance - Laopu Gold (06181) saw a stock price increase of 7.24%, reaching 792 HKD [1] - Luoyang Molybdenum (03993) experienced a rise of 6.54%, with its stock priced at 23.14 HKD [1] - Ningde Times (03750) rose by 3.48%, with shares priced at 535.5 HKD [1] Group 2: Index Inclusion - The Hang Seng Index series will increase its constituent stocks from 88 to 90, with the inclusion of Ningde Times, Luoyang Molybdenum, and Laopu Gold [1] - The changes will take effect after the market closes on March 6, 2026, and will be officially implemented on March 9, 2026 [1]