港股开盘：恒指涨0.25%、科指涨0.43%，科网股、黄金股及创新高概念股走高

Market Overview - The Hong Kong stock market opened slightly higher on November 28, with the Hang Seng Index rising by 0.25% to 26,011.06 points, the Hang Seng Tech Index increasing by 0.43% to 5,622.36 points, and the State-Owned Enterprises Index up by 0.34% to 9,196.22 points [1] - Major technology stocks showed positive movement, with Alibaba up by 0.8%, JD Group up by 0.52%, Xiaomi up by 0.19%, NetEase up by 0.65%, Meituan up by 0.48%, and Bilibili-W up by 0.97% [1] - Metal stocks continued to rise, with Chalco International increasing by 6%, and both Zhaojin Mining and Zijin Mining also showing gains [1] - The innovative drug concept opened high, with Innovent Biologics rising over 1% [1] - Gold stocks generally rose, with Zijin Mining increasing by over 1% [1] - Chip stocks were active, with SMIC rising over 1% [1] - Sportswear, home appliance, and gaming stocks experienced declines [1] Company Earnings - Virginie (02199.HK) reported revenue of HKD 3.84 billion for the six months ending September 30, 2025, a decrease of 3.45%, while net profit increased by 114.25% to HKD 145 million [2] - Huport United (01001.HK) achieved revenue of HKD 1.023 billion, up by 3.34%, but profit decreased by 3.64% to HKD 52.9 million [2] - Disengage Creation (00113.HK) reported revenue of HKD 973 million, a year-on-year increase of 1.2%, with net profit rising by 14.02% to HKD 150 million [2] - Sanhe Construction Group (03822.HK) saw revenue from customer contracts increase by 20.8% to HKD 470 million, with net profit soaring by 1364.7% to HKD 47.41 million [2] - Bojun Education (01758.HK) reported revenue of HKD 379 million, down by 11.9%, with a loss of HKD 130 million, an increase of 227.6% year-on-year [2] - Jiejiao Holdings (00064.HK) reported revenue of HKD 172 million, a decrease of 21.01%, while profit increased by 57.59% to HKD 49.51 million [2] Strategic Developments - Tiande Real Estate (00266.HK) reported revenue of HKD 152 million, down by 2.5%, with losses narrowing by 72.9% to HKD 75.43 million [3] - Kailian International Hotel (00105.HK) reported revenue of HKD 148 million, down by 2.34%, with losses decreasing by 69.77% to HKD 148 million [3] - Safety Warehouse (00237.HK) reported revenue of HKD 84.1 million, down by 9.97%, with a loss of HKD 17.56 million, transitioning from profit to loss [3] - Qingdao Beer Co. (00168.HK) plans to engage in wealth management investment with a maximum daily balance of RMB 10 billion [3] - Junshi Biosciences (01877.HK) plans to use up to RMB 2.4 billion of temporarily idle fundraising for cash management [3] - China Anshun Energy (02399.HK) signed a memorandum of understanding with Guo Heng for further investment in energy-related projects [3] Mergers and Acquisitions - Yanzhou Coal Mining (01171.HK) plans to acquire 100% equity of a high-end support company for HKD 345 million [4] - Beijing University Blue Sky Universe (08095.HK) intends to invest approximately HKD 130 million to acquire the remaining 30% equity of Shanghai Shengjin Venture Capital Co., focusing on new materials, energy conservation, and high-end equipment manufacturing [4] Industry Insights - CICC predicts that the excellent performance of Hong Kong stocks in 2025 will be driven by liquidity and sentiment, with a focus on "excess liquidity" chasing "scarce return assets" [6] - Zhongyuan Securities expects the semiconductor industry to continue its upward trend in 2025, driven by U.S. export controls and the "15th Five-Year Plan" emphasizing technological self-reliance [6] - CITIC Securities notes that copper prices have retreated by 3% since reaching a historical high of USD 11,200 per ton due to a lack of new drivers [6]