Group 1 - The U.S. stock market indices rose across the board, with the Dow Jones increasing by 230.81 points (0.47%) to close at 49,625.97, the Nasdaq up by 203.34 points (0.90%) to 22,886.07, and the S&P 500 gaining 47.62 points (0.69%) to finish at 6,909.51 [2] - The rise in stock prices was influenced by the U.S. Supreme Court's rejection of President Trump's global tariffs, which is expected to alleviate cost pressures on businesses and reduce concerns about persistent inflation in the U.S. economy [2][5] - Major technology stocks saw positive performance, with Alphabet rising by 4.01%, Netflix by 2.17%, and Amazon increasing by 2.56% following the Supreme Court ruling [3][5] Group 2 - The U.S. GDP growth for the fourth quarter was reported at an annualized rate of 1.4%, significantly below the expected 2.5%, primarily due to a government shutdown that impacted economic growth by approximately 1 percentage point [6][7] - The core Personal Consumption Expenditures (PCE) index, a preferred inflation measure by the Federal Reserve, remained stable at 3%, which is above the Fed's target of 2% [7] - Retail stocks responded positively to the Supreme Court's decision, with Home Depot rising by 0.97% and Five Below increasing by 1.91%, indicating a favorable market sentiment towards consumer goods companies [5][6]

Group 1 - The company Zhihu-W (02390.HK) announced a share buyback on February 19, 2026, spending $103,000 to repurchase 87,600 shares [1]

Group 1 - The company Zhihu-W (02390.HK) announced a share buyback on February 19, 2026, spending $103,000 to repurchase 87,600 shares [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 知乎 呈交日期： 2026年2月20日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02390 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事 ...

Market Overview - The three major US stock indices closed lower on Thursday, with the Dow Jones down 267.50 points (0.54%) at 49,395.16, the Nasdaq down 70.91 points (0.31%) at 22,682.73, and the S&P 500 down 19.42 points (0.28%) at 6,861.89 [2] - Concerns over risks in the private credit sector led investors to withdraw from financial stocks, while escalating tensions between the US and Iran put additional pressure on the market [2] - The S&P 500 index nearly erased all its gains for the year, and the Nasdaq has seen a year-to-date decline of 2.41% [2] Technology Sector Performance - Major tech stocks showed weak performance, with Apple down 1.43%, Netflix down 1.27%, Microsoft down 0.29%, Alphabet down 0.16%, and Nvidia down 0.04% [2] - In contrast, Meta rose 0.24% and Tesla increased by 0.12% [2] Company Highlights - Amazon officially surpassed Walmart to become the world's highest-grossing company, with Amazon's revenue at $716.9 billion for the fiscal year ending in December, compared to Walmart's $713.2 billion for the fiscal year ending in January [2] - Walmart's annual sales fell below Amazon's for the first time [2] Chinese Concept Stocks - The Nasdaq Golden Dragon China Index fell by 0.35%, with notable declines in Alibaba (down 0.96%), Pinduoduo (down 0.94%), and Baidu (down 0.55%) [3] - However, some stocks like Niu Technologies rose by 2.08% and Zhihu increased by 0.86% [3] Financial Sector Developments - Blue Owl Capital announced the sale of $1.4 billion in loan assets and tightened liquidity arrangements for investors, leading to a sell-off in private credit stocks [4] - Blue Owl Capital's stock fell by 5.93%, while Blackstone and Apollo Global Management also experienced declines of 5.37% and 5.21%, respectively [5] - The tightening of liquidity arrangements raised concerns about the liquidity risks associated with private credit funds [5] Software Sector Challenges - The software sector faced pressure, with Salesforce down 1.30%, Intuit down 2.06%, and Cadence Design Systems down 2.76% [5] - Concerns about AI potentially disrupting the industry have contributed to the sector's challenges, with a statement from Mistral AI's CEO suggesting that over 50% of enterprise software could be replaced by AI [6] Oil Market Dynamics - International oil prices continued to rise, with WTI crude oil futures up 1.90% at $66.43 per barrel and Brent crude oil futures up 1.86% at $71.66 per barrel [7] - Geopolitical risks in the Middle East, particularly regarding Iran, have been a driving factor behind the rising oil prices [7] - Additionally, a surprise decline in US crude oil inventories reported by the EIA further supported the increase in oil prices [8] Gold Market Update - Spot gold rose by 0.42% to $4,998.50 per ounce, while COMEX gold futures increased by 0.09% to $5,014 per ounce [9]

Market Overview - The U.S. stock market experienced a decline, with all three major indices falling. The Dow Jones dropped by 267.50 points (0.54%) to close at 49,395.16, the Nasdaq fell by 70.91 points (0.31%) to 22,682.73, and the S&P 500 decreased by 19.42 points (0.28%) to 6,861.89. The S&P 500 index nearly erased all its gains for the year, while the Nasdaq has seen a year-to-date decline of 2.41% [1]. Financial Sector - Investors withdrew from the financial sector due to concerns over risks associated with private credit. Blue Owl Capital announced the sale of $1.4 billion in loan assets and tightened liquidity arrangements for investors, leading to a sell-off in private credit stocks. Blue Owl Capital's stock fell by 5.93%, Blackstone dropped by 5.37%, and Apollo Global Management decreased by 5.21% [5]. - The tightening of liquidity arrangements means that investors can no longer redeem funds as frequently, raising concerns about liquidity risks in private credit funds [5]. Technology Sector - Major technology stocks showed weak performance, with Apple down 1.43%, Netflix down 1.27%, Microsoft down 0.29%, Alphabet down 0.16%, and Nvidia down 0.04%. In contrast, Meta rose by 0.24% and Tesla increased by 0.12% [1]. - The software sector also faced pressure, with Salesforce down 1.30%, Intuit down 2.06%, and Cadence Design Systems down 2.76%. Concerns about artificial intelligence potentially disrupting the industry have contributed to this downturn [6]. Oil Market - Oil prices continued to rise, with WTI crude oil futures increasing by 1.90% to $66.43 per barrel and Brent crude oil futures rising by 1.86% to $71.66 per barrel. The geopolitical risks in the Middle East, particularly the tensions between the U.S. and Iran, are driving these price increases [7]. - Additionally, the U.S. Energy Information Administration reported an unexpected decline in weekly crude oil inventories, further supporting the rise in oil prices [8]. Gold Market - Gold prices saw a slight increase, with spot gold rising by 0.42% to $4,998.50 per ounce and COMEX gold futures up by 0.09% to $5,014 per ounce [9].

Group 1 - The company Zhihu-W (02390) announced a share buyback program, spending approximately $227,300 to repurchase about 194,600 shares on February 17 and 18, 2026 [1]

Group 1 - The company Zhihu-W (02390) announced a share buyback program [1] - The total expenditure for the buyback was approximately $227,300 [1] - The buyback involved repurchasing around 194,600 shares [1]

Summary of Key Points Core Viewpoint - Zhihu-W (02390.HK) announced a share buyback of 195,000 shares at a cost of $227,000 on February 17 and 18, 2026 [1] Group 1 - The total expenditure for the buyback was $227,000 [1] - The number of shares repurchased was 195,000 [1] - The buyback occurred on two specific dates: February 17 and 18, 2026 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 知乎 呈交日期： 2026年2月20日 | | 於下列日期結束時的結存 (註5及6) 2026年2月18日 | 254,416,106 | | 0 | | 254,416,106 | | --- | --- | --- | --- | --- | --- | --- | | | B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) | | | | | | | 1). | 已回購擬註銷但尚未註銷之股份 | 99,000 | 0.037 % | USD | 1.123 | | | | 變動日期 2026年1月2日 | | | | | | | 2). | 已回購擬註銷但尚未註銷之股份 | 99,000 | 0.037 % | USD | 1.1328 | | | | 變動日期 2026年1月5日 | | | | | | | 3). | 已回購擬註銷但尚未註銷之股份 | 99,000 | 0.037 % | USD | 1.1732 | | | ...