Group 1: Market Overview - The Hong Kong stock market opened positively on the first trading day of 2026, with the Hang Seng Index rising by 0.34% and the Hang Seng Tech Index increasing by 0.58% [1] - Wall Street analysts suggest that the Federal Reserve's expected interest rate cuts and potential expansion of its balance sheet may reduce policy uncertainty and market volatility, presenting opportunities in global equities and commodities [1] - Despite the current low trading volume and market differentiation in Hong Kong, there are opportunities for gradual accumulation of undervalued assets with resilient fundamentals [1] Group 2: Company News - Meitu Inc. has completed all conditions for a $250 million convertible bond agreement with Alibaba, expected to close by December 31, 2025, with proceeds intended for general business purposes [2] - CITIC Resources anticipates a significant decline in its unaudited consolidated net profit for the year ending December 31, 2025, estimated between HKD 170 million to 230 million, representing a year-on-year decrease of approximately 60% to 70% [2] - XPeng Motors delivered 37,500 smart electric vehicles in December 2025, marking a 2% year-on-year increase, with total deliveries for the year reaching 429,400 units, a 126% growth compared to the previous year [2] - Geely Automobile reported total vehicle sales of 236,817 units in December 2025, a year-on-year increase of approximately 13%, with total annual sales reaching 3,024,567 units, up 39% from the previous year [2] - NIO delivered 48,100 vehicles in December 2025, achieving a monthly record with a year-on-year growth of 54.6%, bringing the cumulative delivery total to 997,600 units by December 31, 2025 [2]