每经AI快讯，3月6日，港股中信资源今日复牌。 ...

Core Viewpoint - The company reported a decline in net income and adjusted net profit for the year 2025, indicating challenges in revenue generation and profitability compared to the previous year [1][4]. Financial Performance - For Q4 2025, the company achieved a net income of 1.462 billion RMB (approximately 209 million USD), a decrease of 18% from 1.783 billion RMB in Q4 2024 [5][6]. - The total net income for the year 2025 was 6.452 billion RMB (approximately 922 million USD), down from 7.039 billion RMB in 2024 [3][8]. - The adjusted net profit for 2025 was reported at 1.607 billion RMB (approximately 230 million USD), a decline of 21.6% from 2.050 billion RMB in 2024 [4][8]. Revenue Breakdown - Media services revenue for Q4 2025 was 334 million RMB (approximately 48 million USD), down 23.6% from 437 million RMB in Q4 2024 [5]. - Lead generation service revenue for Q4 2025 was 668 million RMB (approximately 95.5 million USD), a decrease of 11.9% from 758 million RMB in Q4 2024 [6]. - Online marketing and other revenue for Q4 2025 was 460 million RMB (approximately 66 million USD), down 21.8% from 588 million RMB in Q4 2024 [6]. Profitability Metrics - The net profit attributable to the company for 2025 was approximately 1.443 billion RMB (around 206 million USD), a decline of 14.2% from 1.681 billion RMB in 2024 [3][8]. - The basic net profit per share for 2025 was reported at 2.95 RMB [1]. - The EBITDA for 2025 was 279 million RMB (approximately 40 million USD), a decrease of 28.5% from 390 million RMB in 2024 [8]. Stock Buyback Plan - The company has initiated a stock buyback plan, authorizing up to 200 million USD for repurchasing American Depositary Shares over the next 18 months [9].

责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 香港联交所最新资料显示，2月27日，摩根大通增持信达生物（01801）40.863万股，每股作价84.9352港 元，总金额约为3470.71万港元。增持后最新持股数目约为8690.81万股，最新持股比例为5%。 责任编辑：卢昱君 香港联交所最新资料显示，2月27日，摩根大通增持信达生物（01801）40.863万股，每股作价84.9352港 元，总金额约为3470.71万港元。增持后最新持股数目约为8690.81万股，最新持股比例为5%。 ...

证券之星消息，3月5日南向资金减持9.41万股阿里健康（00241.HK）。近5个交易日中，获南向资金增 持的有2天，累计净增持306.78万股。近20个交易日中，获南向资金增持的有14天，累计净增持2357.63 万股。截至目前，南向资金持有阿里健康（00241.HK）19.89亿股，占公司已发行普通股的12.29%。 阿里健康信息技术有限公司是一家为医疗医药行业提供产业互联网解决方案的投资控股公司，是阿里巴 巴控股在大健康领域的旗舰平台。该公司主要从事发展医药健康产品销售业务，营运医药电商平台及消 费医疗服务平台，通过云计算、大数据等技术发展追溯及数字医疗及互联网医疗业务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

在陈力看来，近年来国家高度重视低空经济发展，将其作为培育未来产业竞争优势的重要赛道。在政策 红利加持下，产业规模持续壮大。但也要看到，当前低空经济仍处于商业化探索期，完整的盈利闭环尚 未形成，距离实现真正的产业化、规模化发展，仍有较长的一段路要走。 陈力表示，从各地实践情况看，低空经济发展仍面临一些瓶颈：首先，基础设施建设成本较高，制约规 模化发展；其次，各地监视与运维体系标准不统一，安全保障能力有待提升；最后，商业化核心动能不 足，一些应用场景仍停留在试点阶段，规模化落地难度较大。 ◎记者 严曦梦 二是统筹构建监视与运维"一张网"，筑牢商业化安全底座。低空经济未来要实现常态化运行，须加快构 建全国统一、智能高效的低空目标监视与运维保障体系。为此，应统一数据标准和接口规范，打通区 域、行业、部门之间的信息壁垒，实现设备状态、运维调度等多源信息实时汇聚和共享。最终目标是形 成"一网感知，一图可视，一体调度"的运行体系。 "近年来低空经济很热，各地都在布局。但要真正实现规模化运营，还须打通商业化'最后一公里'。"全 国政协委员、中国铁塔总经理陈力近日在接受上海证券报记者采访时说。 如何推动低空经济打通商业化运营" ...

中信资源控股有限公司是一家主要从事勘探和销售天然资源业务的投资控股公司。该公司通过四个部门 运营业务。原油分部主要从事在印尼和中国经营油田和销售原油业务。电解铝分部主要从事经营电解铝 厂及于澳大利亚从事销售铝锭业务。煤分部主要从事在澳大利亚营运煤矿和销售煤业务。进出口商品分 部主要从事进口其他商品和制成品业务。 证券之星消息，3月5日南向资金减持71.2万股中信资源（01205.HK）。近5个交易日中，获南向资金减 持的有5天，累计净减持111.6万股。近20个交易日中，获南向资金减持的有20天，累计净减持477.2万 股。截至目前，南向资金持有中信资源（01205.HK）6985.21万股，占公司已发行普通股的0.88%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

证券之星消息，3月5日南向资金减持316.9万股中国人民保险集团（01339.HK）。近5个交易日中，获南 向资金减持的有5天，累计净减持4285.95万股。近20个交易日中，获南向资金减持的有17天，累计净减 持7490.18万股。截至目前，南向资金持有中国人民保险集团（01339.HK）24.69亿股，占公司已发行普 通股的28.28%。 中国人民保险集团股份有限公司是一家主要提供保险产品的控股公司。该公司及其子公司主要从事财产 保险、健康保险、人寿保险、再保险、香港保险、养老保险及经营保险业务。财产保险业务主要包括为 公司及个人提供财产保险产品，包括机动车辆险、农业保险、财产保险和责任保险。健康保险业务主要 包括健康和医疗保险产品。人寿保险业务主要包括人寿保险产品，包括分红、两全、年金及万能人寿保 险产品等。香港保险业务包括在中国香港的财产保险业务。养老保险业务包括企业年金和职业年金等业 务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Core Viewpoint - JD Logistics is experiencing fluctuating profits despite a steady increase in revenue, raising questions about when it will overcome its profitability bottleneck [1] Financial Performance - In 2025, JD Logistics reported total revenue of 217.15 billion yuan, an 18.8% increase year-on-year; net profit attributable to shareholders was 6.65 billion yuan, up 7.2%; gross profit was 19.77 billion yuan, a 5.7% increase from 18.7 billion yuan the previous year; annual profit was 6.89 billion yuan, down 2.8% from 7.09 billion yuan [1] - Adjusted net profit for 2025 was 7.71 billion yuan, a 2.6% decrease; adjusted EBITDA was 20.60 billion yuan, a 1.3% increase from 20.34 billion yuan; adjusted EBITDA margin was 9.5%, down 1.6 percentage points from the previous year [1] Cost Reduction and Efficiency Improvement - JD Logistics management acknowledged a decline in profit margins for 2025 but expressed confidence in overall growth for 2026, attributing this to ongoing investments in cost reduction and efficiency improvements [3] - The integrated supply chain business, a key focus for JD Logistics, generated revenue of 116.2 billion yuan in 2025, a 33.0% increase; external integrated supply chain customer revenue was 35.9 billion yuan, up 11.2% [4] Customer Base and Market Expansion - The number of external integrated supply chain customers grew to 91,161, a 13% increase year-on-year; in Q4 2025, revenue from integrated supply chain logistics services was 35.6 billion yuan, accounting for 56.6% of total revenue, up nearly 10 percentage points from the previous year [5] - In 2025, revenue from JD Group was 80.3 billion yuan, accounting for 37% of total revenue, while revenue from external customers reached 136.8 billion yuan, making up 63% of total revenue, reflecting a 7.1% year-on-year increase [9][10] Strategic Acquisitions - JD Logistics completed the acquisition of the remaining 36.43% equity in Kuaixun Express in March 2025, achieving 100% ownership; in February 2026, it gained approximately 99.7% ownership of Debon Logistics, which is expected to stabilize profit levels [5][6] Global Expansion and Partnerships - JD Logistics is focusing on strengthening its presence in Europe, particularly in the UK, Germany, the Netherlands, and France, aiming for same-day and next-day delivery services [13] - A strategic cooperation memorandum was signed with DHL to enhance logistics capabilities in Europe, leveraging DHL's extensive end-network and cross-border advantages [14] Technology and Automation - JD Logistics is investing in AI technology across various logistics processes, including warehousing, sorting, and transportation, to optimize efficiency and reduce costs [21] - Capital expenditure is expected to be slightly higher than the 3%-4% range in 2025, with increased investments in warehouse automation and unmanned vehicles anticipated for 2026 [22]

每经记者｜张梓桐 每经编辑｜余婷婷 3月2日晚，火爆一时的二次元射击游戏《尘白禁区》突发公告，宣布于当日23:59启动停机维护，仅以"服务器技术维护、数据量庞大"为由模糊解释，未明 确任何开服时间，一时间引发游戏圈关注。 图片来源：《尘白禁区》公告截图 值得一提的是，就在近日，《尘白禁区》曾官宣与中国邮政进行联动，推出线下邮局快闪活动，但因诸多网友反映游戏画面尺度较大引发争议，随后合作终 止。 公开资料显示，《尘白禁区》的直接开发商为金山软件旗下核心游戏子公司西山居，由其狸花猫工作室独立研发发行。这款曾创造"逆增长奇迹"的游戏如今 陷入停服疑云，不仅折射出西山居单款游戏的运营危机，也在一定程度上引发外界对其母公司金山软件近年游戏业务转型的关注。 与《尘白禁区》的停摆形成鲜明对比的是，金山软件旗下另一游戏业务子公司——金山世游发行的现象级游戏《鹅鸭杀》正迎来爆发式增长，这也让金山整 个游戏业务发展呈现"冷暖交织"的态势。 艾媒咨询CEO张毅在接受《每日经济新闻》记者采访时表示，游戏企业的扩圈营销应优先让位于合规安全，当前监管并非"一刀切"，而是采取全链路监控、 分级分区管理模式，违规成本显著提升，倒逼行业从试探 ...

Core Viewpoint - Autohome (NYSE: ATHM, HKEX: 2518) reported a decline in revenue and net profit for the year ending December 31, 2025, indicating challenges in the automotive advertising market due to reduced spending by fuel vehicle manufacturers [2][5]. Financial Performance Summary - For the year 2025, Autohome's revenue was 6.45 billion RMB (approximately 923 million USD), a decrease of 8.4% from 7.04 billion RMB in 2024 [2]. - The net profit attributable to the company for 2025 was 1.443 billion RMB (206 million USD), down 14.2% from 1.681 billion RMB in 2024 [2][10]. - The adjusted net profit (non-GAAP) for 2025 was 1.607 billion RMB (230 million USD), a decline of 21.6% from 2.05 billion RMB in 2024 [5]. Quarterly Performance Summary - In Q4 2025, Autohome's net revenue was 1.462 billion RMB (209 million USD), an 18% decrease from 1.783 billion RMB in Q4 2024 [6]. - Q4 2025 media services revenue was 334 million RMB (47.7 million USD), down 23.6% from 437 million RMB in Q4 2024 [6]. - Q4 2025 lead services revenue was 668 million RMB (95.5 million USD), a decrease of 11.9% from 758 million RMB in Q4 2024 [7]. - Q4 2025 online marketing and other revenue was 460 million RMB (65.8 million USD), down 21.8% from 588 million RMB in Q4 2024 [7]. - The net profit for Q4 2025 was 234 million RMB (33.4 million USD), a decline of 27% from 321 million RMB in Q4 2024 [8]. EBITDA and Profitability - The EBITDA for 2025 was 2.79 billion RMB (approximately 399.5 million USD), a decrease of 28.5% from 3.9 billion RMB in 2024 [10]. - The net profit margin for 2025 was 22.4%, down from 23.9% in 2024 [10]. Stock Buyback Plan - Autohome's board approved a new stock repurchase plan allowing the company to buy back up to 200 million USD of its American Depositary Shares over the next 18 months [11].