智通财经APP获悉，明源云(00909)盈喜后高开逾3%，截至发稿，涨3.16%，报2.9港元，成交额81.44万 港元。 消息面上，2月9日，明源云发布公告，该集团预期于2025年取得股东应占利润净额约2690万-3280万 元，同比实现扭亏为盈，增长约为114%至117%。扭亏为盈的主要原因为：公司聚焦核心产品及重点客 户，释放大量运营成本，提升公司盈利水平；同时，通过AI技术赋能业务流程，大幅提升人效及经营 效率，从而有效精简开发、销售及运营成本。 剔除以股份为基础的薪酬后，预计集团于2025年的经调整净利润(非国际财务报告准则计量)约人民币 9720万元至1.03亿元，同比增长约321%至 335%。 ...

Major Events - Xian Dao Intelligent (00470) has set the offer price for H-shares at HKD 45.80, with the sale volume adjustment rights fully exercised [1] - Lexin Outdoor (02720) has seen a public offering subscription rate of 3654.23 times, with a per share pricing of HKD 12.25 [1] - Aixin Yuan Zhi (00600) has achieved a public offering subscription rate of 104.82 times, with a final offer price of HKD 28.2 per share [1] - Shandong Xinhua Pharmaceutical (00719) has obtained the registration certificate for glucosamine sulfate capsules [1] - United Pharmaceutical (03933) has passed the consistency evaluation for roxithromycin capsules [1] - InnoCare Pharma (03696) has reached several drug development projects in the central nervous system and autoimmune disease fields with Kangzhi Pharmaceutical, valued at tens of millions of HKD [1] - Sunshine Insurance (06963) subsidiary plans to increase capital to Sunshine Asset Management (Hong Kong) for a total of no more than HKD 1 billion [1] - Crystal Tech Holdings (02228) has established a robotics laboratory in BASF, receiving top endorsement from the chemical industry for global technological leadership [1] - Youjia Innovation (02431) has newly secured designated projects in intelligent driving and intelligent cockpit [1] - China Resources Pharmaceutical (03320) is considering the potential sale of approximately 17.87% equity in Tianmai Biotechnology [1] Operating Performance - Hong Kong Telecom-SS (06823) reported a profit attributable to shareholders of HKD 5.286 billion for 2025 [1] - Pop Mart (09992) has achieved global sales of over 400 million units across all IP and product categories in 2025 [1] - Longfor Group (00960) reported a contract sales amount of HKD 2.45 billion in January [1] - China Jinmao (00817) recorded a signed sales amount of HKD 7.603 billion in January, an increase of 13.56% year-on-year [1] - New天绿色能源 (00956) completed a power generation volume of 1.7393 million MWh in January, a year-on-year increase of 15.25% [1] - Dekang Agriculture and Animal Husbandry (02419) sold 1.04236 million pigs in January [1] - China Oriental Education (00667) has issued a profit warning, expecting a year-on-year profit increase of 46% to 51% for the 2025 fiscal year [1] - China Nuclear International (02302) has issued a profit warning, expecting gross profit for 2025 to reach no less than approximately HKD 260 million [1] - Mingyuan Cloud (00909) has issued a profit warning, expecting net profit attributable to shareholders for 2025 to be approximately HKD 26.9 million to HKD 32.8 million, turning from loss to profit year-on-year [1]

Core Viewpoint - Mingyuan Cloud (00909.HK) is expected to achieve a net profit attributable to shareholders ranging from approximately 26.9 million to 32.8 million RMB for the fiscal year ending December 31, 2025, marking a significant turnaround from a net loss of approximately 190 million RMB in the same period last year, representing a growth of about 114% to 117% [1][2] Financial Performance - The company anticipates a net profit attributable to shareholders between approximately 26.9 million and 32.8 million RMB for the fiscal year ending December 31, 2025 [1][2] - Last year, the company recorded a net loss attributable to shareholders of approximately 190 million RMB, indicating a successful turnaround to profitability [1][2] - The adjusted net profit (non-IFRS measure) for the reporting period is expected to be approximately 97.2 million to 103.2 million RMB, a growth of about 321% to 335% compared to an adjusted net loss of approximately 44 million RMB for the fiscal year ending December 31, 2024 [1][2] Strategic Initiatives - The turnaround to profitability is primarily attributed to the company's focus on core products and key customers, which has led to significant operational cost reductions and improved profitability [1][2] - The implementation of AI technology has greatly enhanced business processes, resulting in increased efficiency and a streamlined approach to development, sales, and operational costs [1][2]

剔除以股份为基础的薪酬后，预计集团于2025年的经调整净利润(非国际财务报告准则计量)约人民币 9720万元至1.03亿元，同比增长约321%至 335%。 智通财经APP讯，明源云(00909)公布，该集团预期于2025年取得股东应占利润净额约2690万-3280万 元，同比实现扭亏为盈，增长约为114%至117%。扭亏为盈的主要原因为：公司聚焦核心产品及重点客 户，释放大量运营成本，提升公司盈利水平;同时，通过AI技术赋能业务流程，大幅提升人效及经营效 率，从而有效精简开发、销售及运营成本。 ...

剔除以股份为基础的薪酬后，预计集团于报告期的经调整净利润(非国际财务报告准则计量)约人民币 9720万元至人民币1.032亿元，较截至2024年12月31日止年度经调整净亏损约人民币4400万元增长约 321%至335%。 格隆汇2月9日丨明源云(00909.HK)发布公告，截至2025年12月31日止年度("报告期")，集团预期于报告 期将录得介乎于约人民币2690万元至人民币3280万元的股东应占利润净额。相比之下，集团于去年同期 录得股东应占亏损净额约人民币1.90亿元，实现扭亏为盈，增长约为114%至117%。扭亏为盈的主要原 因为：公司聚焦核心产品及重点客户，释放大量运营成本，提升公司盈利水平；同时，通过AI技术赋 能业务流程，大幅提升人效及经营效率，从而有效精简开发、销售及运营成本。 ...

Ming Yuan Cloud Group Holdings Limited 明源雲集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：909） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 正面盈利預告 本公告乃由明源雲集團控股有限公司（「本公司」，連同其附屬公司及併表聯屬實 體，統稱「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部的內幕消息條文（定義 見上市規則）作出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東（「股東」）及潛在投資 者，根據對本集團截至二零二五年十二月三十一日止年度（「報告期」）之未經審核 綜合管理賬目作出之初步審閱及預估： 1 1. 本集團預期於報告期將錄得介乎於約人民幣26.9百萬元至人民幣32.8百萬元 的股東應佔利潤淨額。相比之下，本集團於去年同期錄得股東應佔虧損淨額 約人民幣190百萬元，實現扭虧為 ...

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index closing at 23,831 points, down 145 points or 0.61% [1] - The market turnover decreased to 82.799 billion, with net inflows of 484 million from the Hong Kong Stock Connect [1] - The technology sector, including mobile gaming, cloud computing, and AI applications, saw significant declines, with notable drops in stocks like Zhihui (02513.HK) down 6.01% and Alibaba-W (09988.HK) down 2.88% [1] US Market Performance - The US stock market rebounded significantly, with the Dow Jones Industrial Average surpassing 50,000 points for the first time, closing up 2.47% [2] - The surge was driven by technology stocks, particularly in the semiconductor sector, with the Philadelphia Semiconductor Index rising 5.7% [2] Investment Opportunities - The report emphasizes the importance of "technological self-reliance" and AI applications as key themes for future growth in the Hong Kong stock market, suggesting that leading companies in these sectors may benefit from long-term development opportunities [3] - The Ministry of Industry and Information Technology's recent policy on building national computing power nodes is expected to boost domestic semiconductor and communication sectors, highlighting companies like Hua Hong Semiconductor (1347.HK) and SMIC (0981.HK) as potential beneficiaries [9] - The global semiconductor market is projected to reach $791.7 billion by 2025, representing a 25.6% increase from 2024, indicating strong growth potential for related companies [9] Company Highlights - ZTE Corporation (0763.HK) is noted for its comprehensive product line in the communication industry, with a projected revenue of 121.299 billion in 2024, despite a slight decline [10] - The company is focusing on the computing power sector, launching advanced server solutions that could enhance its competitive edge [10] - Analysts expect ZTE's net profits for 2025 and 2026 to be 7.98 billion and 8.81 billion RMB, respectively, suggesting the stock is undervalued at current PE ratios [10]

Core Viewpoint - Recent shifts in public fund allocations indicate a significant change in risk appetite, moving from high-growth technology stocks to defensive sectors such as undervalued dividend stocks and consumer services [1][2][7]. Group 1: Market Trends - Public funds are increasingly favoring defensive sectors as the market experiences volatility, particularly in high-growth areas like AI applications and semiconductors, which have seen significant declines [2][8]. - The Hang Seng Technology Index fell by 1.84% on February 4, with notable declines in popular AI stocks, prompting fund managers to adjust their risk preferences [2]. - Defensive sectors, including aviation and consumer services, have shown resilience, with the Hong Kong aviation sector rising by 5.01% on the same day [2]. Group 2: Fund Performance - The performance rankings of funds have shifted, with funds heavily invested in defensive assets, such as the Guotai Junan Stable Value Fund, seeing net value increases exceeding 8% in a week, driven by their focus on liquor stocks [3]. - Funds are actively rebalancing their portfolios, with a notable shift towards low-valuation and consumer stocks, as managers seek to mitigate risks associated with high-flying tech stocks [4][7]. Group 3: Investment Strategies - Fund managers are increasingly selling off high-flying tech stocks to invest in undervalued consumer stocks, with a focus on companies expanding their physical retail presence [4]. - The H&H International Holdings, a leading health product company, has attracted attention due to its strategic shift into new consumer markets, leading to increased institutional interest [5]. - Real estate service companies, such as Mingyuan Cloud and Country Garden Services, are also gaining traction among fund managers, indicating a growing recognition of their value at current price levels [6]. Group 4: Future Outlook - Fund managers anticipate a continued shift towards defensive sectors, driven by concerns over high valuations in technology and a desire for stable returns amid market fluctuations [7]. - The consumption sector is expected to benefit from government support aimed at boosting consumer spending, with a focus on structural growth opportunities across different income groups [8].

智通财经2月6日讯（编辑 胡家荣）受海外科技股抛售情绪传导影响，港股AI概念股多数走弱。截至发 稿，五一视界(06651.HK)跌5.56%、赤子城科技(09911.HK)跌4.73%、浪潮数字企业(00596.HK)跌 4.62%、美图公司(01357.HK)跌3.88%、出门问问(02438.HK)跌3.17%。 | 代码 | 名称 | 最新价 | 涨跌额 | 涨跌幅 = | | --- | --- | --- | --- | --- | | 06651 | 五一视界 | 70.450 | -4.150 | -5.56% | | 02438 | 出门问问 | 0.610 | -0.020 | -3.17% | | 09911 | 赤子城科技 | 9.860 | -0.490 | -4.73% | | 00596 | 浪潮数字企业 | 4.340 | -0.210 | -4.62% | | 01357 | 美图公司 | 6.200 | -0.250 | -3.88% | | 00268 | 金蝶国际 | 10.970 | -0.420 | -3.69% | | 02513 | 智谱 | 208.600 | ...

Group 1 - JD.com (SWR 89618) has the highest short-selling ratio at 85.52%, followed by AIA Group (R 81299) at 77.11% and Lenovo Group (R 80992) at 67.79% [1][2] - Tencent Holdings (00700) leads in short-selling amount with 2.709 billion yuan, followed by Pop Mart (09992) at 974 million yuan and Xiaomi Group (W 01810) at 793 million yuan [1][2] - Huatai Securities (06886) has the highest deviation value at 40.23%, followed by Tong Ren Tang Technologies (01666) at 35.46% and China Ship Leasing (03877) at 26.75% [1][2] Group 2 - The top ten short-selling ratios include JD.com at 85.52%, AIA Group at 77.11%, and Lenovo Group at 67.79% [2] - The top ten short-selling amounts show Tencent Holdings at 2.709 billion yuan, Pop Mart at 974 million yuan, and Xiaomi Group at 793 million yuan [2] - The top ten deviation values are led by Huatai Securities at 40.23%, followed by Tong Ren Tang Technologies at 35.46% and China Ship Leasing at 26.75% [2]