大华继显发表研报指，新东方2026财年第二季业绩胜预期，收入按年增长15%至11.91亿美元，较该行 及市场预期高3%；非公认会计准则净利润达7300万美元，胜该行及市场预期27%至30%，受惠于持续审 慎的成本控制；而净利润率按年扩张2个百分点至6%。公司预计2026财年第三季收入将按年增长11%至 14%，至13.13亿至13.49亿美元，符合市场预期。该行将新东方美股评级上调至"买入"，目标价上调至 68美元。 ...

摩根大通发表研报指，新东方2026财年第二财季业绩好过预期，并上调指引，是两年来首次。管理层的 乐观态度，令该行将2026财年至2027财年经营利润预测上调7%。该行指，新东方重新回到优质复合增 长轨道，有望持续实现业绩超预期及指引上调。该行重申新东方"增持"评级及首选股地位，目标价由53 港元上调至55港元。 ...

该行指出，新东方已重新回到"优质复合增长"轨道，有望持续实现业绩超预期及指引上调。不过，该行 认为市场仍未充分了解到其盈利潜力及复利效应。公司每股盈利的年均复合增长率逾15%，支持其估值 重估。同时，投资者亦可获得每年超过5%的资本回报，背后由56亿美元净现金支持。 新东方2026财年第二财季业绩好于预期，并上调指引，这是两年来的首次。管理层的乐观态度促使该行 将2026财年至2027财年的经营利润预测上调7%。 摩根大通发布研报称， 重申新东方-S(09901)"增持"评级及首选股份地位，目标价由53港元升至55港 元。 ...

Core Viewpoint - Morgan Stanley reaffirms "Overweight" rating for New Oriental-S (09901) and raises target price from HKD 53 to HKD 55 [1] Financial Performance - New Oriental's Q2 FY2026 results exceeded expectations and guidance was raised for the first time in two years [1] - Management's optimistic outlook led to a 7% increase in operating profit forecasts for FY2026 to FY2027 [1] Growth Potential - The company is back on a "high-quality compound growth" track, with expectations for continued performance exceeding forecasts and upward guidance adjustments [1] - The market has not fully recognized the company's profit potential and compounding effects [1] Earnings and Valuation - The annual compound growth rate for earnings per share exceeds 15%, supporting a revaluation of the company's stock [1] - Investors can expect over 5% annual capital returns, backed by USD 5.6 billion in net cash [1]

美聯儲主席鮑威爾在記者會上，基本迴避媒體關於其央行前途及司法部啟動刑 事調查的提問，不斷重申無法提供任何回應，並稱有關提問自有適當的時機與 場合。他又提醒潛在繼任者要遠離民選政治，別被捲入民選政治漩渦，並指國 會是他們履行問責的窗口，向國會說明工作並非被動負擔，而是積極的常態義 務。 港股點評 2026年1月29日9:30 a.m 恒指升 699 點，滬指升 11 點，標普 500 升 20 點 美滙指數下滑至四年低，港股顯著上升。恒指高開 198 點後升幅擴大，全日以 高位 27,826 點收市，升 699 點或 2.6%，創逾四年半高；國指升 267 點或 2.9%， 收 9,512 點；恒生科指升 145 點或 2.5%，收 5,900 點。大市全日成交總額 3,615.23 億元。 人民幣兌美元中間價按日上調 103 點，報 6.9755 兌一美元創 2023 年 5 月以來 逾兩年半高。人民銀行 28 日在公開市場開展 3,775 億元人民幣七天期逆回購操 作，操作利率持平於 1.4%。有 3,635 億元逆回購到期，單日淨投放 140 億元。 A 股三大指數 A 股三大指數走勢分化。滬綜指全日收升 ...

Core Viewpoint - Citigroup's research report indicates that New Oriental-S (09901.HK) management has confirmed that second-quarter performance exceeded expectations, with a profit margin expansion of 300 basis points (excluding Dongfang Zhenxuan), and expressed high confidence in exceeding annual targets [1] Group 1: Financial Performance - K12 business is accelerating growth in the third quarter, with high school business guidance up 18% and K9 business guidance up 23% (in USD) [1] - This strong performance is sufficient to offset the weakness in the annual overseas business, which is projected to be between 0% to -5% [1] - Management has stated that revenue and profit will definitely exceed expectations, showing confidence in achieving targets for the year [1] Group 2: Strategic Developments - New Oriental is merging its overseas exam preparation business with its study abroad consulting business to reduce customer acquisition costs and break down departmental barriers, marking a key strategic shift [1] - The upward revision of high school business guidance to 18% reflects the expansion of the OMO model and efficiency improvements driven by AI workplace systems [1] - Improved retention rates in K9 support an annual growth of over 20% [1] Group 3: Analyst Rating - Citigroup maintains a "Buy" rating for New Oriental with a target price of HKD 59 [1]

Group 1 - Lee & Man Paper Manufacturing (02314) rose nearly 6% after Nine Dragons Paper announced a profit forecast of approximately 2.15 billion to 2.25 billion yuan for the six months ending December 31, 2025, representing a year-on-year increase of 216.0% to 230.7% [1] - New Oriental Education (09901) increased nearly 4% following the release of its financial results for the second quarter of fiscal year 2026, showing a 14.7% year-on-year increase in net revenue and a 244.4% rise in operating profit [1] - Jolywood (06680) surged nearly 7% as rare earth prices continued to rise, with neodymium and praseodymium oxide prices increasing by over 120,000 yuan per ton [1] Group 2 - Chinese property management stocks saw a significant rise, with Sunac Services (01516) up 5.67% and Greentown Services (02869) up 5.81%, as a report predicted an average revenue growth of 6% for property management companies by 2025 [2] - Valiant Pharmaceuticals (09887) gained nearly 4% after receiving FDA fast track designation for its dual-specific antibody LBL-034 for treating relapsed/refractory multiple myeloma [2] - The commercial aerospace sector showed signs of recovery, with Junda Co. (02865) rising 12.1% as the China Aerospace Science and Technology Corporation emphasized the importance of the next decade for developing a strong aerospace industry [2] Group 3 - Aigo Group (00328) experienced a dramatic drop, falling over 88% at one point, with a total market value dropping below 35 million HKD [3] - China Overseas Development (00688) rose over 4.2% as Citigroup's report indicated that the Chinese real estate sector would face significant impairment and margin decline challenges in fiscal year 2025 [3] - Yuegangwan Holdings (01396) increased by 8% after announcing a share placement to raise 108 million yuan, with about 70% allocated for AI computing power cloud service projects [3] Group 4 - Junda Co. (02865) saw a rise of 11.99% as the China Aerospace Science and Technology Corporation held a meeting emphasizing the need to overcome challenges in commercial rocket launches and reusable technology [4] Group 5 - In the US market, New Oriental (EDU.US) rose 5.32% after reporting a net revenue of 1.191 billion USD for the second quarter of fiscal year 2026, a 14.7% year-on-year increase [5][6] - Semiconductor equipment and materials sector saw gains, with Texas Instruments (TXN.US) up 9.94% as it projected first-quarter revenue between 4.32 billion and 4.68 billion USD, slightly above analyst expectations [5] - Storage sector stocks surged, with Seagate Technology (STX.US) up 19.14% as it projected third-quarter revenue of 2.9 billion USD, significantly higher than analyst estimates [5]

每经AI快讯，新东方-S(09901.HK)涨超4%，截至发稿，涨4.03%，报46.56港元，成交额1.79亿港元。 ...

美银证券发布研报称，新东方-S截至11月止第二财季的收入及利润率均胜预期。收入增长加速至15%， 并高于9%至12%的指引。非通用会计準则经营利润率扩阔4.8个百分点，亦按季加速，同时高于指引 的"逾1个百分点"。公司对截至2月止第三财季的收入增长指引为11%至14%，并将5月底止全财年收入 指引上调至53亿至55亿美元，即按年增长8%至12%，高于原先指引的5%至10%，主要动力来自K12业 务、东方甄选及海外备考业务跌幅收窄。 新东方-S(09901)涨超4%，截至发稿，涨4.03%，报46.56港元，成交额1.79亿港元。 消息面上，1月28日，新东方-S发布截至2025年11月30日止的2026财年第二季度财务业绩公告，该集团 2026财年第二季度的净营收同比上升14.7%至11.91亿美元；经营利润同比上升244.4%至6630万美元；新 东方股东应占净利润同比上升42.3%至4550万美元。于2026财年上半年，净营收约27.14亿美元，同比增 长9.7%。经营利润约3.77亿美元，同比增长20.7%。新东方股东应占净利润约2.86亿美元，同比增长 3.2%。 ...

美银证券发布研报称，新东方-S截至11月止第二财季的收入及利润率均胜预期。收入增长加速至15%， 并高于9%至12%的指引。非通用会计準则经营利润率扩阔4.8个百分点，亦按季加速，同时高于指引 的"逾1个百分点"。公司对截至2月止第三财季的收入增长指引为11%至14%，并将5月底止全财年收入 指引上调至53亿至55亿美元，即按年增长8%至12%，高于原先指引的5%至10%，主要动力来自K12业 务、东方甄选及海外备考业务跌幅收窄。 消息面上，1月28日，新东方-S发布截至2025年11月30日止的2026财年第二季度财务业绩公告，该集团 2026财年第二季度的净营收同比上升14.7%至11.91亿美元；经营利润同比上升244.4%至6630万美元；新 东方股东应占净利润同比上升42.3%至4550万美元。于2026财年上半年，净营收约27.14亿美元，同比增 长9.7%。经营利润约3.77亿美元，同比增长20.7%。新东方股东应占净利润约2.86亿美元，同比增长 3.2%。 智通财经APP获悉，新东方-S(09901)涨超4%，截至发稿，涨4.03%，报46.56港元，成交额1.79亿港元。 ...