在业绩发布会上，汪书高还透露，2025年业绩预计有明显增长，同时他表示，计划年内拓展中国香港及海外市场，"（考虑先开店的地区）一个是中国香 港，另一个是新加坡"。 财报发布后，3月27日，小菜园收盘报每股10.64港元，跌幅4.66%，总市值为125.18亿港元。 3月26日，小菜园发布了截至2024年12月31日的2024年财报。财报显示，小菜园2024年总营收为52.1亿元，同比增长14.5%；净利润达5.81亿元，同比增长 9.1%；基本每股盈利0.56元。营收方面，2024年，小菜园的堂食业务和外卖业务两部分营收均较2023年有所增长，其中外卖业务营收增长明显，从2023年的 14.9亿元增长至2024年的20亿元，同比增长34.2%。 财报提及，截至2024年12月31日，小菜园在营门店数共667家，而上年同期为536家门店。 图片来源：同花顺 每经记者 杨昕怡 每经实习编辑 余婷婷 3月27日，大众餐饮连锁企业小菜园（00999.HK）召开了上市后的首次业绩发布会。会上，小菜园创始人兼董事长汪书高透露，计划在2025年新增门店120 家左右，"在正常情况下，2026年的门店总数将突破1000家。" ...

在经历行业深度调整后，港股游戏板块估值优势逐步显现，具备强研发实力与长线运营能力的厂商正成 为市场关注焦点。作为深耕休闲游戏赛道的"老牌劲旅"，百奥家庭互动(02100)凭借精品化战略与创新 技术布局，在2024年展现出强劲韧性。 从2024年报不难看出，百奥在核心IP的持续运营、AI技术的深度应用、全球化战略的稳步推进，以及与 行业趋势的紧密共振，将共同构筑其2025年高质量成长的确定性路径。 精品游戏长线运营，IP生态构筑护城河 智通财经APP了解到，3月27日，百奥家庭互动公布其2024年度业绩。年内，百奥实现收入约5.5亿元人 民币，经调整净亏损约2100万元人民币。一方面，公司持续加大研发投入，快速提升自主游戏开发能力 和用户体验，使其业绩颇具韧性;另一方面，公司降本增效，在保证优质内容的基础上，以更低的成 本、更高效的转化率，以及不断推进的研发进程直面市场竞争。 期内，公司持续增加研发投入，以进一步提升产品创新和研发能力，巩固核心竞争力，年内研发开支达 约1.8亿元人民币。为提升产品研发及优质游戏的攻关能力，百奥持续加码研发力度，研发费用占比达 到32.5%，彰显公司长线产品布局的信心。 回顾20 ...

"2024年我们取得了历史最好业绩，不管净利率还是毛利率都提升显著。"3月26日，泡泡玛特董事长兼 CEO王宁在2024年年度业绩发布会上表示。 3月27日，泡泡玛特当日最高涨幅达13.72%。截至收盘，报收153.7港元/股，市值2064.1亿港元。 市场的火热与泡泡玛特业绩的增长紧密相关。泡泡玛特2024年财报显示，2024年公司实现营收130.4亿 元，同比增长106.9%；非国际财务报告准则经调整净利润34.0亿元，同比增长185.9%，创历史新高。 公司对2025年业绩展现出乐观的态度，王宁表示："2025年希望集团整体销售能突破200亿元，海外销售 超百亿元。尽管基数越来越大，但公司整体充满信心。" 全球化进程顺利扩展 四大IP收入均突破10亿元 泡泡玛特全球扩张的步伐从未停歇，在2024年迎来最佳成绩。 财报显示，泡泡玛特2024年中国内地营收79.7亿元，同比增长52.3%；海外业务营收50.7亿元，同比增 长375.2%，收入占比达38.9%。 截至2024年12月31日，泡泡玛特海外门店达130家，机器人商店达到192台，业务版图已遍及全球近百个 国家及地区。海外市场线上渠道全年营收14. ...

Core Insights - The article highlights a significant shift in the global capital market, characterized by the rise of Chinese technology companies leveraging policy advantages, technological equality, and industry chain integration, with AI technology driving industrial upgrades [1] - The traditional investment advisory model in China's fintech sector faces challenges in efficiency, personalization, and professionalism, revealing structural contradictions [1][2] Group 1: User Pain Points - The investment advisory industry in China suffers from two core pain points that hinder decision-making quality and market health [2] - The first pain point is information overload and difficulty in discerning truth from falsehood, leading ordinary investors into a "data fog" [3] - The second pain point is the knowledge gap and lack of a structured research framework, creating cognitive barriers for investors [4] Group 2: Innovative Solutions by Jiufang Zhitu - Jiufang Zhitu has introduced a "soft and hard combination" solution to redefine intelligent investment advisory services, launching the "Yizhi Gudao" stock learning machine with over 230 courses and 17,000 hours of content [4][5] - The company’s AI assistant, "Xiao Jiu," and the digital investment advisor "Jiu Ge" have served over 472,000 clients, demonstrating the integration of technology and personalized service [5] Group 3: Restructuring the Research Value Chain - Jiufang Zhitu's Jiufang Zhiyan platform aims to address the supply-demand disconnect in the investment research ecosystem by utilizing AI for intelligent data cleaning and generating user-friendly reports [6] - The company has invested approximately 319 million RMB in R&D in 2024, maintaining a stable R&D expense ratio above 10% since 2019 [7] Group 4: Technological Ecosystem Barriers - The competition in the investment advisory industry has evolved from a focus on single technological advantages to a systemic battle of "technology foundation × ecological strategy" [8] - Jiufang Zhitu has built a comprehensive traffic matrix across major platforms, supported by a research team that covers over 4,000 companies and 20+ industries [8][9] Group 5: Compliance and Risk Management - The company employs AI technology in its compliance and risk management platform, ensuring that all business activities adhere to regulations and enhancing operational efficiency [10] - Jiufang Zhitu's practices serve as a model for the industry, transitioning from "wild growth" to "refined cultivation" [10] Group 6: Conclusion - The evolution of China's fintech is marked by a shift from "traffic frenzy" to "value excavation," emphasizing the importance of the synergy between technological potential and business ecology [11] - The ultimate value of fintech lies in building a "human-machine collaboration" system, where AI handles information filtering and risk alerts, allowing human advisors to focus on emotional resonance and complex strategies [11]

突发！ 新元科技（300472）(300472.SZ)3月27日晚间公告，公司于2025年3月27日收到中国证监会下发的《立案告知书》，因涉嫌信息披露违 法违规，根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，证监会决定对公司立案。 新元科技搭建了以北京、天津、安徽、宁夏为中心的智能化高端装备制造基地和工程研发体系，服务网点遍布国内22个省市及地区， 形成南、北、中三方位合理布局，构建国内8小时服务圈。在日本、韩国、捷克、印尼、泰国、印度等国家布有技术服务网点，立足 于世界，服务于全球。 业绩方面，新元科技此前发布业绩预告称，预计2024年实现营业收入1.59亿—1.95亿元；归属于上市公司股东的净利润为亏损3.91亿— 5.58亿元，上年同期为亏损2.02亿元。 | 项目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司股 | 亏损:39,053.12万元-55,790.16万 | 亏损:20,194.82 万 | | 东的净利润 | 元 | 元 | | 扣除非经常性损益 | 亏损:38,013.95 万元 - 54,750.99万 | 亏损:2 ...

3月27日，南下资金净买入港股41.42亿港元。 其中，净买入泡泡玛特7.24亿、阿里巴巴-W 3.64亿、美团-W 3.17亿、快手-W 1.55亿； 净卖出盈富基金14.42亿、恒生中国企业11.43亿、小米集团-W 4.47亿。 | | 沖股通 | | | | | --- | --- | --- | --- | --- | | 名称 | 涨跌幅 | 净买入额(亿) | 成交额 | 名称 | | 小米集团-W | -4.2% | -2.08 | 78.04亿 | 小米集团-W | | 中芯国际 | 4.2% | -0.92 | 44.85 Z | 中芯国际 | | 阿里巴巴-W | 0.5% | 5.95 | 24.00亿 | 阿里巴巴-W | | 腾讯控股 | 0.5% | 1.28 | 23.99亿 | 腾讯控股 | | 泡泡玛特 | 9.2% | 0.56 | 17.55亿 | 泡泡玛特 | | 盈富長金 | 0.4% | -14.42 | 14.48 Z | 恒生中国企业 | | 信达生物 | 17.4% | 0.39 | 12.87 Z | 信达生物 | | 快手 W | 1.3% | -0.3 ...

IP商业化、海外市场、供应链……泡泡玛特的天平上要放很多筹码才行。近日，泡泡玛特的高管们在发布2024年全年财报后接受了采访，表示在现有的积 木、毛绒等基础上，泡泡玛特还会有新品类，但不会无限度扩充产品宽度。泡泡玛特董事长兼CEO王宁称，公司能起起落落，时而大时而小，但受过市场验 证的IP，其生命周期一定非常长。借助IP商业化能力，海外市场正在成为泡泡玛特乃至中国潮玩品牌新着陆点，但受制于物流、运营费率以及文化差异，出 海并不容易。 IP不分年龄但品类分年龄 "公司能起起落落，时而大时而小，但受过市场验证的IP，其生命周期一定非常长。"泡泡玛特董事长兼CEO王宁在泡泡玛特国际集团发布2024年全年财报后 接受采访时，给出了公司与IP之间的关联。 中国潮玩市场用了十几年时间，完成了从最初的生硬模仿到自主自创的跳跃。这个过程中，IP塑造和爆火是绕不开的核心因素。在潮玩圈子里，从业者始终 认可一句话，"没有IP就等于没有灵魂"，实操过程中，就有了自主IP还是外部IP两种选择。外部IP合作，难免要受制于人。但扶持一个自主IP从寂寂无名到 大众认可，IP创作、运营、生产和销售缺一不可，甚至这些因素还不能出现明显的短板， ...

Core Viewpoint - The article highlights the increasing trend of innovative drug companies in China achieving profitability through product sales rather than one-time business development (BD) transactions, with examples including Innovent Biologics and others focusing on both domestic and international markets [1][2]. Group 1: Company Performance - On March 26, 2024, Innovent Biologics reported a revenue of 9.422 billion yuan, a year-on-year increase of 51.8%, and reduced its annual loss from 1.028 billion yuan to 94.631 million yuan, a decrease of 90.8% [2]. - The company achieved its first positive Non-IFRS profit and Non-IFRS EBITDA of 332 million yuan and 412 million yuan, respectively [2]. - The stock price of Innovent Biologics surged by 17.41% to close at 45.850 HKD per share, with a market capitalization of 75.11 billion HKD [3]. Group 2: Revenue Breakdown - Product revenue reached 8.228 billion yuan, up 43.6%, while licensing fee income doubled from 447 million yuan to 1.1 billion yuan [4]. - Despite significant revenue growth, the company still could not cover operational costs and expenses solely from sales revenue in 2024, indicating reliance on increased licensing fee income for reduced losses [4][5]. Group 3: Future Prospects - Innovent Biologics anticipates improvement in 2025 as several drugs, including lung cancer and hematological malignancy treatments, have been approved for market entry [5]. - The company aims to achieve 20 billion yuan in product revenue by 2027 and has set a goal to have five pipelines enter global multi-center Phase III clinical trials by 2030 [2][5]. - The establishment of a cardiovascular and metabolic (CVM) division is underway, with a focus on diverse marketing strategies and building a consumer-facing brand image [6]. Group 4: Strategic Collaborations and Market Expansion - Innovent Biologics formed a strategic partnership with Meinian Health focusing on precise interventions for overweight patients with fatty liver [7]. - The company has engaged in BD transactions, including a notable deal with Roche for the exclusive rights to develop, produce, and commercialize IBI3009, a targeted ADC for small cell lung cancer, with an upfront payment of 80 million USD and potential milestone payments of up to 1 billion USD [7][8]. - Innovent plans to expand clinical research from China to key markets like the US, with ongoing studies for innovative therapies [8].

Core Insights - Cat Eye Entertainment reported a total revenue of 4.082 billion RMB and a net profit of 182 million RMB for the year 2024, with an adjusted net profit of 310 million RMB, highlighting the company's financial performance and commitment to shareholder returns through a proposed final dividend of 0.32 HKD per share [1][2] Group 1: Business Performance - The company participated in the release of 63 domestic films during the reporting period, achieving a cumulative box office of approximately 23.2 billion RMB, with 8 out of the top 10 domestic films being produced or distributed by Cat Eye [1] - Cat Eye's promotional and distribution efforts included 60 domestic films, with 36 being under its main control, marking a historical high in both the number of films and box office share [1] - The company is focusing on self-developed content and IP cultivation, enhancing its content creation capabilities, and has made significant progress in the animation film sector [1] Group 2: Future Developments - Cat Eye's first 3D animation film, "Time's Son," is scheduled for release on May 30, 2025, along with other animated films like "Summer of Little Monsters" [2] - The ticketing business achieved record highs in total revenue and GMV, with a 90% year-on-year increase in GMV for concert ticketing services [2] - The company plans to invest in long-term development of the live entertainment sector, enhance infrastructure and service capabilities, and expand overseas business collaborations [2] - In the technology domain, Cat Eye aims to leverage its technological expertise and industry insights to explore innovative business opportunities, particularly in AI integration within the film industry [2]