智通财经获悉，宝济药业-B(02589)逆市涨近5%，截至发稿，涨3.79%，报68.45港元，成交额1837.76万 港元。 智通财经APP在《"自我造血"的新晋18A，宝济药业-B(02659)以"三驾马车"打造可持续增长样本》中指 出，在"场景驱动"的战略选择、合成生物学的技术壁垒以及"总成本领先"的工业化优势的协同下，宝济 药业得以形成其独有的"金字塔型"管线布局。其中，作为现金流的根据地，宝济药业的"金字塔型"管线 底座，由临床周期短、费用低、市场需求确定性高的产品构成，如已获批上市的SJ02和已提交NDA的 KJ017。该类产品由于聚焦解决明确的临床场景痛点和技术替代，能够快速形成稳定的销售和现金流， 为企业提供"自我造血"能力，从而有效消除18A企业普遍存在的"融资焦虑"。 本文源自：智通财经网 消息面上，近日，宝济药业-B正式登陆港交所主板，上市首日收涨138.82%，总市值现已突破200亿港 元。据宝济药业招股书披露，公司战略性聚焦四大领域：大容量皮下给药，抗体介导的自身免疫性疾 病，辅助生殖及重组生物制药。公司的管线主要包括12款自主开发在研产品，包括三款核心产品 (KJ017、KJ103 ...

来源：格隆汇APP 海吉亚医疗(6078.HK)盘初一度涨超6%，现报12港元，总市值74.5亿港元。消息上，海吉亚医疗昨日盘 后公告，公司认为股份目前的交易价格并未反映其内在价值或公司的实际业务前景。因此，公司董事会 已议决利用购回授权，以不时在公开市场上按不少于人民币300百万元的总价格购回股份。未来，公司 还将视市场情况，持续优化股东回报，在回购、分红及并购扩张中做出更高效的、更有利于股东价值的 资本配置安排。 ...

Core Viewpoint - Zhongyin International initiates coverage on Xiaocaiyuan (00999) with a "Buy" rating and a target price of HKD 12.2, highlighting the company's strong competitive advantages and leadership position in the Chinese casual dining market [1] Group 1: Competitive Advantages - Xiaocaiyuan benefits from interconnected and reinforced multi-dimensional competitive advantages [1] - The dining experience offers high cost-performance, and the supply chain and store operations are highly standardized [1] - The organization demonstrates high efficiency with a low turnover rate among core employees [1] Group 2: Financial Performance and Growth - The company is expected to accelerate its national store network expansion next year, with same-store sales anticipated to improve marginally [1] - Zhongyin International forecasts a compound annual growth rate (CAGR) for revenue and profit of 14% and 20%, respectively, from 2024 to 2027 [1]

摩根大通发表研究报告指，恒隆地产早前公布成功获得上海南京西路1038号及无锡恒隆广场扩建项目的 长期营运租约。管理层表示，每个新增轻资产项目的预测内部回报率(IRR)均达十位数百分比，回本期 在十年内。近期新增的3项轻资产租约合共为集团的物业组合增添18.5万平方米面积。该行指，恒隆地 产仍然是其首选股份之一，因内地的租户销售持续改善，并预期轻资产营运租约将于2028/29年度开始 产生贡献，带来新增长动力。另外，股份估值吸引，股息率达5.8%且派息确定性高。该行现予目标价 10港元及"增持"评级。 ...

Core Viewpoint - Zhongyin International has initiated coverage on Xiaocaiyuan (00999) with a "Buy" rating and a target price of HKD 12.2, highlighting its strong competitive advantages and leadership position in the Chinese casual dining market [1] Group 1 - Xiaocaiyuan benefits from interconnected and reinforced competitive advantages, leading to a robust growth trajectory [1] - The dining experience offered by Xiaocaiyuan is cost-effective, with a highly standardized supply chain and operational processes, resulting in high organizational efficiency [1] - The company has a lower turnover rate among core employees, and its restaurant operating profit margins exceed industry averages [1] Group 2 - Zhongyin International estimates that Xiaocaiyuan will accelerate its national store network expansion next year, with same-store sales expected to improve marginally [1] - The company is projected to achieve a compound annual growth rate (CAGR) of 14% in revenue and 20% in profit from 2024 to 2027 [1]

消息上，国泰海通证券发布研报称，首次覆盖给予沪上阿姨"增持"评级，目标价116.56港元，沪上阿姨 旗下拥有"沪上阿姨""茶瀑布"和"沪咖"三大品牌，形成覆盖不同价格带与消费群体的品牌矩阵。公司凭 借高效的研发与加盟模式快速拓展市场，尤其在北方具备优势。公司实施"一体两翼"战略，多品牌开店 潜力较大。此外，咖啡业务经历调整升级，目前整合进沪上阿姨主品牌，有望贡献单店增量。 本文源自：格隆汇 12月16日，沪上阿姨(2589.HK)盘初曾直线拉升涨超10%，股价重回百港元上方，最新总市值107亿港 元。 ...

【财华社讯】曹操出行(02643.HK)公布，董事会注意到公司股份价格及成交量近期出现不寻常变动。经 作出合理查询后，董事会确认，其并不知悉任何导致该等股价及成交量变动原因，或任何必须披露以避 免公司证券出现虚假市场资料或任何须根据香港法例第571章证券及期货条例第XIVA部予以披露內幕消 息。 目前，集团业务营运正常，整体业务基本面未发生任何重大不利变化。核心网约车业务保持稳健发展， 经营情况符合管理层预期；同时，集团在自动驾驶(Robotaxi)领域的中长期战略方向清晰，并按既定规 划稳步推进。与此同时，集团正稳步加强国际化业务布局，积极探索海外市场及相关合作机会，以支持 公司中长期发展战略。 董事会谨此重申，集团将继续专注于主营网约车业务，持续提升运营效率及服务质量，并在审慎原则下 推进包括自动驾驶及国际化拓展在內的中长期战略布局。公司管理层对集团的长期发展前景保持审慎而 积极的态度。 本文源自：财华网 ...

Core Viewpoint - The IPO of "Yujian Xiaomian," a chain restaurant specializing in Chongqing noodles, faced significant challenges, with its stock price dropping nearly 28.98% on the first day of trading, reflecting investor skepticism about the sustainability of its business model [1][2][11]. Group 1: Financial Performance and Growth - The company has seen substantial revenue growth, with revenue increasing from 418 million yuan in 2022 to 1.154 billion yuan in 2024, and achieving 703 million yuan in the first half of 2025, which is 168% of the total revenue for 2022 [7][10]. - The number of stores has expanded significantly, from 133 in early 2022 to 465 by November 2025, representing a compound annual growth rate of over 50% [4][10]. - Despite revenue and store growth, the average customer spending has declined from 36.2 yuan in 2022 to 30.9 yuan in the first half of 2025, a decrease of nearly 15% [2][15]. Group 2: Market Reception and Investor Sentiment - The stock opened at 5.00 HKD, down 28.98% from the IPO price of 7.04 HKD, closing at 5.08 HKD, a total decline of 27.84% [1][11]. - The IPO attracted five cornerstone investors who collectively subscribed for 22 million USD (approximately 171 million HKD), indicating some institutional confidence in the company's long-term potential [11][12]. - However, the significant drop in stock price resulted in substantial losses for cornerstone investors, with an estimated total loss of 6.1248 million USD (approximately 43.3 million RMB) [12][13]. Group 3: Operational Challenges - The company faces operational challenges, including declining single-store profitability and a decrease in turnover rates, with average daily turnover rates dropping from 3.8 times in 2024 to 3.4 times in the first half of 2025 [15][16]. - The average daily sales per store have also declined, with direct-operated stores dropping from 13,997 yuan in 2023 to 11,805 yuan in the first half of 2025 [16]. - The competitive landscape in the Chinese noodle market is intensifying, with numerous brands entering the space, leading to price wars and reduced consumer loyalty [17].

海吉亚医疗(6078.HK)盘初一度涨超6%，现报12港元，总市值74.5亿港元。消息上，海吉亚医疗昨日盘 后公告，公司认为股份目前的交易价格并未反映其内在价值或公司的实际业务前景。因此，公司董事会 已议决利用购回授权，以不时在公开市场上按不少于人民币300百万元的总价格购回股份。未来，公司 还将视市场情况，持续优化股东回报，在回购、分红及并购扩张中做出更高效的、更有利于股东价值的 资本配置安排。 ...

李寧（02331）股價近期呈現明確的向上突破態勢。截至14点30分，股價收報18.7元，大漲5.77%，成交額顯著放大至4.30億元。技術指標發出複雜但偏積極 的信號：多項趨勢指標如MACD、保力加通道及牛熊力量指標均給出買入信號，與股價強勢突破所有短期主要均線（10天線17.28元，30天線17.42元，60天 線17.34元）形成共振。然而，部分震盪指標如CCI及隨機震盪指標已進入超買區間，相對強弱指數（RSI）升至56，提示短線可能面臨技術性調整壓力。整 體上升概率為54%，配合高達10.8%的5日振幅，顯示市場波動劇烈，交投情緒極為活躍。 關鍵的技術位為交易提供了清晰的框架。隨著股價突破，新的關鍵支持區域已上移至17.4元（支持1） 與17.2元（支持2），這與突破前的均線密集區重合， 預計將成為重要的回調支撐。上方目標則聚焦於19.4元（阻力1） 及19.9元（阻力2）。市場普遍認為，股價在完成「收窄三角」形態向上突破後，短期目標 區間可看至19至20元。預計股價將在17.4元至19.4元的區間內震盪上行，以消化獲利盤並積蓄動能。 | | | 市場催化劑與投資者觀點：基本面動能與技術預期共振 推動本 ...