Montage Technology(SH:688008) Jin Rong Jie·2026-02-09 01:30Market Overview - The Hong Kong stock market opened higher on February 9, with the Hang Seng Index rising by 1.59% to 26,982.49 points, the Hang Seng Tech Index up by 1.9% to 5,447.63 points, and the National Enterprises Index increasing by 1.54% to 9,170.57 points. The Red Chip Index rose by 0.89% to 4,399.55 points [1] - Last week, the Hang Seng Index recorded a significant decline of 3.02%, while the National Enterprises Index fell by 3.07%, and the Hang Seng Tech Index dropped by 6.51% [1] Company Performance and Dynamics - Beijing Capital International Airport Co. (00694.HK) issued a profit warning, expecting a net loss of 600 million to 760 million yuan for 2025, which represents a year-on-year reduction in losses of approximately 45.3% to 56.8%. This improvement is attributed to the recovery in aviation market demand and enhanced cost control [2] - Times Electric (03898.HK) reported preliminary results indicating total revenue of approximately 28.761 billion yuan for 2025, a year-on-year increase of 15.46%, with a net profit of about 4.105 billion yuan, up by 10.88% [2] - Power sector stocks saw a general increase, with Datang Environment (01272.HK) expecting a pre-tax profit of 700 million to 710 million yuan for 2025. Datang New Energy (01798.HK) reported a power generation of 3.272 million MWh in January, a year-on-year increase of 6.69%, while Longyuan Power (00916.HK) generated 7.1627 million MWh, up by 12.05%, with solar power generation increasing by 42.25% [2] Real Estate Sales - Yuexiu Property (00123.HK) reported a contract sales amount of 4.201 billion yuan in January, a year-on-year decrease of 36.4%. Poly Real Estate (01238.HK) had sales of 470 million yuan, down by 31.98%. In contrast, Greenland Hong Kong (00337.HK) saw a significant increase in sales to 508 million yuan, up by 287.79% year-on-year [3] Pharmaceutical and Technology Developments - CloudTop New Medicine (01952) received approval for a new drug application for the treatment of ulcerative colitis. Kelun-Biotech (06990.HK) received approval for the fourth indication of its core product TROP2 ADC. Heng Rui Medicine (01276.HK) had its HRS-4642 injection included in the breakthrough therapy list [4] - ZTE Corporation (00763.HK) plans to invest 200 million yuan to subscribe to shares of the Guangdong-Hong Kong-Macao fund, focusing on hard technology sectors [4] Stock Buybacks and Financing - Kingsoft (03888.HK) repurchased 1.1142 million shares for approximately 29.9994 million HKD. Geely Automobile (00175.HK) repurchased 166.5 million shares for about 27.1612 million HKD. October Rice Field (09676.HK) repurchased 78 million shares for approximately 7.3357 million HKD. China Galaxy (06881.HK) completed the issuance of 6 billion yuan in corporate bonds [5] Institutional Perspectives - According to浦银国际, the market is expected to maintain a volatile trend in the short term, with a rotation of style. The inflow of incremental funds is slowing before the Spring Festival, and external liquidity is affected by geopolitical uncertainties and Trump’s policies, limiting the expansion space for Hong Kong stock valuations [6] - 广发证券 noted that historical data shows an 82% probability of the Hang Seng Index rising in the three days before the Spring Festival, although there is no significant calendar effect afterward. The current situation differs due to changes in Hong Kong stock pricing logic and increased correlation with A-shares, suggesting a potential passive follow-up increase in Hong Kong stocks [7]