港股收评：恒指跌0.94%、科指跌1.49%，科网股、券商股及石油股走低，医药板块尾盘走高

Market Performance - The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Index closing down 0.94% at 26,458.95 points [1] - The Hang Seng Technology Index fell by 1.49% to 5,738.52 points, while the National Enterprises Index decreased by 1.14% to 9,138.75 points [1] - Major technology stocks experienced declines, with Alibaba down 3.25%, Tencent down 1.26%, and JD.com down 1.3% [1] - The pharmaceutical sector saw gains, with Rongchang Bio rising over 12% and 3SBio increasing over 7% [1] - Brokerage stocks were weak, with Guotai Junan International dropping over 5% [1] - Oil stocks led the declines, with CNOOC down 3% [1] - Automotive stocks also weakened, with NIO falling over 3% [1] Company Updates - Yadea Holdings (01585.HK) expects a net profit of no less than RMB 2.9 billion for 2025, up from RMB 1.27 billion in the previous year, driven by increased sales of electric two-wheelers and optimized product structure [2] - Poly Property Group (00119.HK) anticipates a cumulative contract sales amount of approximately RMB 50.2 billion for 2025, a decrease of 7.38% year-on-year [3] - Sunac China (01918.HK) projects a cumulative contract sales amount of about RMB 36.84 billion for 2025, down 21.85% year-on-year [4] - Gemdale Corporation (00535.HK) expects a cumulative contract sales total of approximately RMB 10.696 billion for 2025, a decrease of 47.33% year-on-year [5] - Greentown Management Holdings (09979.HK) estimates new construction project management fees for 2025 to be RMB 9.35 billion, a year-on-year increase of about 0.4% [6] - Yuexiu Property (00123.HK) has acquired a land parcel in Shanghai's Pudong New Area for RMB 2.561 billion [7] - Jiufang Zhitu Holdings (09636.HK) has completed the acquisition of 100% of JF Financial and its core information systems [8] - Weimob Group (02013.HK) is collaborating with Taobao Flash Sale to create an integrated local retail solution [8] - Dali Pu Holdings (01921.HK) has officially become a qualified supplier for Saudi Aramco [9] - Xiehe New Energy (00182.HK) has successfully completed a secondary listing on the Singapore Stock Exchange [10] - Bokan Vision Cloud-B (02592.HK) has submitted a clinical trial application for the new drug CBT-009 [11] - Yingtong Holdings (06883.HK) has established a partnership with the Italian high-end fragrance brand CULTI to strengthen its distribution network in China [11] Institutional Insights - CITIC Securities suggests that Hong Kong stocks may experience a second round of valuation recovery and performance revival in 2026, recommending focus on technology, healthcare, resource products, consumer staples, paper, and aviation sectors [12] - Everbright Securities indicates that domestic policy initiatives and a weaker US dollar may lead to continued upward movement in Hong Kong stocks [12] - Dongwu Securities believes that Hong Kong stocks are entering a period of upward fluctuation, emphasizing the importance of dividends as a foundation [12] - Industrial Securities recommends actively buying, anticipating a spring rally led by the Hang Seng Technology Index, with a bullish outlook for the Hong Kong market in 2026 [12]