TENCENT(HK:00700) Jin Rong Jie·2026-01-09 04:11Market Overview - The Hong Kong stock market opened higher but experienced a downward trend, with the Hang Seng Index up 0.03% at 26,158.21 points, the Hang Seng Tech Index down 0.06% at 5,674.78 points, and the National Enterprises Index up 0.04% at 9,042.8 points [1] - Major tech stocks showed mixed performance, with Alibaba up 2.81%, Tencent down 0.73%, JD.com up 2.95%, Xiaomi down 0.42%, NetEase down 1.64%, Meituan down 2.38%, Kuaishou up 2.85%, and Bilibili up 3.32% [1] - The commercial aerospace sector was strong, with Asia Pacific Satellite rising over 15%, while gold stocks saw gains, with Shandong Gold up over 6% [1] - Solar energy stocks weakened, with GCL-Poly Energy down over 8%, and real estate and aviation stocks showed collective weakness [1] - MiniMax, a large model enterprise, saw its stock rise over 78% on its first trading day, reaching 294 HKD [1] Company News - Fast Retailing (迅销) reported Q1 earnings for the period ending November 30, 2025, with revenue of 1,027.745 billion JPY, a year-on-year increase of 14.8%, and net profit of 147.445 billion JPY, up 11.7% year-on-year [2] - Bairong Cloud (百融云) repurchased 4.15 million shares for 51.783 million HKD at a price range of 12.41-12.51 HKD [3] - Xianjian Technology (先健科技) received formal registration approval from the National Medical Products Administration for its G-iliacTM Pro iliac artery stent system [4] - Tencent Holdings (腾讯控股) repurchased 1.036 million shares for 636 million HKD at a price range of 610.5-618.5 HKD [4] - Xiaomi Group (小米集团) repurchased 5 million shares for 191 million HKD at a price range of 38.04-38.16 HKD [5] - Giant Bio (巨子生物) repurchased 400,000 shares for 13.7106 million HKD at a price range of 34.12-34.44 HKD [6] - Vanke Enterprises (万科企业) announced the resignation of Yu Liang due to retirement [7] - Baolong Real Estate (宝龙地产) reported a total contract sales amount of approximately 7.272 billion CNY for 2025, a year-on-year decrease of 43.13% [8] - China General Nuclear Power (中广核电力) projected a total on-grid electricity of approximately 2,326.48 billion kWh for 2025, a year-on-year increase of 2.36% [9] - Jieli Trading Treasure (捷利交易宝) reported an increase of 7 institutional clients in December 2025, a year-on-year increase of 1, with registered users at approximately 886,700, up 6.2% year-on-year [9] - CWT International (CWT INT'L) signed a memorandum of cooperation with SF Express Singapore to jointly build a one-stop local and international logistics service [10] - Merui Health International (美瑞健康国际) plans to acquire 100% equity of Jiangsu Yide for 125 million CNY [11] - Dimi Life Holdings (迪米生活控股) entered into a strategic cooperation framework agreement with partners to enter the electronic vaporization industry [12] Institutional Insights - Everbright Securities indicated that domestic policy support combined with a weaker US dollar may lead to continued upward movement in the Hong Kong stock market, highlighting strong overall profitability and the relative scarcity of assets in internet, new consumption, and innovative pharmaceuticals [13] - Galaxy Securities expects active trading in the Hong Kong market to persist due to multiple positive factors, projecting an overall upward trend [13] - Dongwu Securities noted that the Hong Kong market is entering a period of upward fluctuation, emphasizing the importance of dividends as a base and the potential for technology growth in the first half of the year [13]