当天上午9点04分，富时中国A50指数期货在夜盘收涨0.3%的基础上低开，但很快转为上涨0.26%。这看起来是一个平静的开局。然而，开盘后不到一个小 时，情况急转直下。到了上午10点10分左右，A50期指盘中跌幅已经超过1%。从上涨0.52%到下跌1.13%，它在短时间内完成了一次幅度接近1.8%的跳水。 而且，这次跳水发生的时间点非常精准，几乎与港股市场开盘后的走势同步。 更让人困惑的是，即使后来A股大盘一度翻红，A50期指依然没有拉回来。盘中大多数时间，它都在下跌0.90%左右震荡。从更长的周期来看，这个代表中 国核心资产的期指已经持续下跌了近两个月。据市场数据显示，其价格从15670点附近一路下滑至14664点，累计跌幅达到6.5%。这种持续的阴跌，让很多 通过它来观察A股前景的投资者感到不安。 几乎在同一时间，香港股市上演了更加惨烈的一幕。恒生指数在上午开盘时还上涨了1.05%，国企指数上涨0.53%，恒生科技指数上涨0.52%。但这仅仅是昙 花一现。开盘价成了全天的最高点，随后指数一路向下，几乎没有任何像样的反弹。收盘时，恒生指数报26381.02点，下跌384.7点，跌幅1.44%；国企指数 下跌 ...

编辑|何小桃杜恒峰校对|程鹏 2月26日，港股收跌，其中恒生指数跌1.44%，恒生科技指数重挫2.87%。香港主板市场超1000只个股下跌，南向资金净流出74亿港元。 恒生科技指数三连阴，重要成分股中，阿里巴巴跌3.57%，百度集团跌4.27%，腾讯跌2%，美团跌2.72%，京东跌2.62%，小米集团跌1.18%。 | < w | 恒生科技(HSTECH) | | | | --- | --- | --- | --- | | | 5109.33 -151.17 -2.87% | | | | 茨城 成分 | 资讯 | 相关基金 | 月度收益 | | 小鹏汽车-W | 67.500 | -5.06% | -3 | | 9868.HK | | | | | 华虹半导体 | 97.850 | -4.82% | -4 | | 1347.HK | | | | | 毕 里 毕 里-W | 218.200 | -4.63% | -10 | | 9626.HK | | | | | 理想汽车-W | 68.650 | -4.45% | -3 | | 2015.HK | | | | | 百度集团-SW | 123.400 | -4.2 ...

Market Overview - The Hong Kong stock market experienced a significant decline, with the Hang Seng Index dropping by 1.44% and the Hang Seng Tech Index falling by 2.87%, reaching a new low since July of the previous year, down over 23% from the peak in October [1] - Technology stocks collectively fell, with notable declines in companies such as Bilibili (down approximately 5%), Baidu and Kuaishou (both down over 4%), Tencent (down 2% below HKD 520, hitting a new low), and Alibaba (down 3.57%) [1] Sector Performance - The automotive and semiconductor sectors also saw declines, with Xpeng Motors down about 5% and Hua Hong Semiconductor down nearly 5% [1] - Biopharmaceutical stocks faced significant drops, with WuXi AppTec and BeiGene both declining by approximately 9% [2] - Other sectors such as automotive dealerships, building materials, gambling, AI applications, coal, oil, domestic real estate, photovoltaic, and precious metals also experienced downturns [3] Notable Gainers - In contrast, some stocks within the Hang Seng Index showed gains, including Cheung Kong Infrastructure, CK Hutchison, and Power Assets, with notable increases in electric power, optical modules, and optical communications [3] - Noteworthy performers included Dongfang Electric, which surged by 15.5%, and Cambridge Technology, which rose by 8% [3] Semiconductor Sector Activity - Following Nvidia's recent quarterly earnings report, which positively impacted tech stocks in the US and A-shares, the Hong Kong semiconductor sector became active, with Tensun Zhixin rising over 20% to reach a new high and Zhaoyi Innovation increasing by over 3% [3][4] Future Outlook - Looking ahead, the market outlook suggests that investors should focus on three key sectors: 1. Precious metals and energy sectors may see upward movement due to rising geopolitical risks and increased investor caution 2. The consumer sector, currently at relatively low valuations, is expected to continue rising 3. The technology sector remains a long-term investment focus, with potential for rebound following recent corrections and accelerated AI applications [5]

2月26日，港股高开低走，截至午间收盘，恒生指数跌0.39%，恒生科技指数跌1.65%。 | 名称 | 现价 | 涨跌幅 - | | --- | --- | --- | | 中创新航 | 25.420 | -8.10% | | 瑞浦兰钧 | 14.460 | -6.41% | | 宁德时代 | 503.500 | -5.53% | | 天能动力 | 7.540 | -2.46% | | 比亚迪股份 | 96.650 | -2.13% | | 正力新能 | 9.340 | -1.27% | 大型科网股集体转跌，百度集团、腾讯音乐、快手、哔哩哔哩、阿里巴巴均跌超2%，京东集团跌近 2%。 编辑｜钉钉 | 名称 | 现价 | 涨跌 | 涨跌幅 - | 成交额 | | --- | --- | --- | --- | --- | | 百度集团-SW | 125.500 | -3.400 | -2.64% | 5.10亿 | | 腾讯音乐-SW | 56.300 | -1.400 | -2.43% | 2216.36万 | | 快手-W | 64.750 | -1.600 | -2.41% | 14.59亿 | | 哔哩 ...

2月16日，蚂蚁阿福以并不怎么"科技"的姿态登上了春晚舞台——某种程度上，机器人、通用AI代表的 是全球科技浪潮的顶点，而阿福则嵌入了一个生活化场景——老年人体检和慢病管理。 这是其占据用户心智的一个小节。 自去年12月至今，阿福让人们见识到，当顶级操盘手们想改变一个行业时，会做到什么地步。 只12月一个月，蚂蚁集团为阿福投入了"小几个亿"的市场推广费用。于是，严肃市场有各类KOL的花式 推介，下沉市场每个新用户下载APP会获得十几块钱红包，包括春晚在内，他们通过直接或间接的渠道 触达全人群。 无孔不入的线上宣传和线下地推，撑开了用户增长的一级漏斗。23日，蚂蚁阿福APP的总用户数突破1 亿大关，春节新增用户中52%来自三线及以下城市。 全面To C是这一轮AI技术与医疗碰撞的标志性故事。 蚂蚁阿福和百川智能在权衡后选择了直面用户。而如阿福这般高举高打的声势，让医院院长们回想起， 过去二十年里，支付宝是以怎样的决心和定力从各大银行和医疗信息化企业群雄割据的稳固江山里撕开 了院端线上支付的口子。 在上一个十年里，医疗AI更多面向的是B端市场，企业要想办法找渠道进医院，要绑定大放设备，要和 地方政府合作做普筛，要 ...

| 名称 | 现价 | 涨跌幅, | | --- | --- | --- | | 兆易创新 | 425.000 | 3.01% | | 澜起科技 | 195.000 | 1.51% | | 爱芯元智 | 28.680 | 1.34% | | 天数智芯 | 240.600 | 1.18% | | 中芯国际 | 70.650 | 1.15% | | 华虹未曾体 | 103.800 | 0.97% | | 壁仞科技 | 38.680 | 0.68% | | 英诺赛科 | 68.300 | 0.44% | 2月26日，香港恒生指数高开0.95%，恒生科技指数涨0.46%。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | HSI | 恒生指数 | 27019.74 | 254.02 | 0.95% | | HSTECH 恒生科技 | | 5284.51 | 24.01 | 0.46% | | HSBIO | 恒生生物科技 | 15707.37 | 56.92 | 0.36% | | HSCEI | 恒生中国企业指数 | 9078.96 | 44 ...

[Table_Page] 跟踪研究|软件与服务 证券研究报告 [Table_Title] 【广发医药&海外】平安好医生（01833.HK） 前瞻：预计收入稳健增长，利润率继续提升 [Table_Summary] 核心观点： | [Table_Invest] 公司评级 | 买入 | | --- | --- | | 当前价格 | 13.34 港元 | | 合理价值 | 19.65 港元 | | 前次评级 | 买入 | | 报告日期 | 2026-02-25 | [Table_PicQuote] 相对市场表现 -10% 46% 103% 159% 216% 272% 02/25 04/25 06/25 08/25 10/25 12/25 02/26 平安好医生 恒生指数 | [分析师： Table_Author]杨琳琳 | | | --- | --- | | | SAC 执证号：S0260514050004 | | SFC CE No. BNC117 | | | 0755-23480370 | | | yll@gf.com.cn | | | 分析师： | 罗佳荣 | | | SAC 执证号：S02605160900 ...

Market Performance - The Hang Seng Index closed up by 0.66% at 26,765.72, gaining 175.40 points [2] - The Hang Seng Tech Index decreased by 0.19%, closing at 5,260.50, down by 10.20 points [2] Sector Performance - The Hang Seng Biotech Index fell by 0.02% to 15,650.45, with a decline of 3.74 points [2] - The Hang Seng China Enterprises Index rose by 0.30%, closing at 9,034.75, up by 26.89 points [2] - The Hang Seng Composite Index increased by 0.63%, closing at 4,104.29, gaining 25.63 points [2] Notable Stock Movements - SenseTime (商汤-W) dropped by 5.36% to 2.470, down by 0.140 [3] - Tongcheng Travel (同程旅行) fell by 4.97% to 21.020, down by 1.100 [3] - Leapmotor (零跑汽车) decreased by 3.71% to 43.060, down by 1.660 [3] - Horizon Robotics (地平线机器人-W) declined by 3.41% to 8.510, down by 0.300 [3] - NIO (蔚来-SW) fell by 2.64% to 40.640, down by 1.100 [3] - Alibaba Health (阿里健康) decreased by 2.53% to 5.790, down by 0.150 [3] GEO Concept Stocks - MINIMAX-WP experienced a significant drop of 14.38%, closing at 753.500 [4] - Zhiyuan (智谱) fell by 10.75% to 560.500 [4] - XunCe (迅策) decreased by 3.72% to 86.650 [4]

Market Performance - The A-share market opened high and continued to rise, with the Shanghai Composite Index up 0.72% and the ChiNext Index, Shenzhen Component Index, and Sci-Tech Innovation Index all rising over 1% [1] - More than 3,700 stocks in the market rose, with 101 stocks hitting the daily limit, marking over two consecutive days of more than 100 stocks reaching the limit [1] Rare Earth Sector - The rare earth permanent magnet concept saw a significant surge, with stocks like Northern Rare Earth (600111), China Rare Earth (600259), and others hitting the daily limit [1] - Prices of rare earth products increased significantly, with praseodymium-neodymium oxide averaging 882,000 CNY/ton, up 41,600 CNY/ton; neodymium metal at 1,036,700 CNY/ton, up 31,700 CNY/ton; dysprosium oxide at 1,622,900 CNY/ton, up 170,000 CNY/ton; and terbium oxide at 6,438,000 CNY/ton, up 118,000 CNY/ton [1] Basic Metals Sector - The basic metals sector experienced a surge, with stocks like Feilihua (300395) rising over 18%, and several others hitting the daily limit [1] Semiconductor Industry - The semiconductor industry saw an expanded upward trend, with stocks like Youyan Silicon (20cm) hitting the daily limit and others like Fuchuang Precision and Jiangfeng Electronics rising over 10% [2] Commercial Aerospace Sector - The commercial aerospace sector showed a strong performance, with stocks like Aerospace Development (000547) hitting the daily limit and others like Keshun Co. rising over 14% [2] - Blue Arrow Aerospace announced plans for a recovery test of its reusable rocket in the second quarter of this year [2] Real Estate Sector - The real estate sector performed strongly, with stocks like I Love My Home (000560) and City Investment Holdings (600649) hitting the daily limit [2] - New policies were announced in Shanghai to relax housing purchase restrictions and optimize housing fund loan policies, effective from February 26 [2] Phosphate Chemical Sector - The phosphate chemical sector saw explosive growth, with stocks like Chengxing Co. (600078) and others achieving consecutive limit-ups [2] Declining Sectors - The storage chip sector faced declines, with stocks like Purun Co. dropping over 7% and others like Lanjie Technology and Jiangbolong falling over 3% [3] - The film and television cinema sector also saw a downturn, with Hengdian Film (603103) experiencing consecutive limit-downs [4] Hong Kong and International Markets - The Hong Kong stock index showed a slight increase, with the Hang Seng Technology Index fluctuating but ultimately rising by 0.13% [4] - The Nikkei 225 index in Japan rose by 2.20%, while the KOSPI index in South Korea increased by 1.91%, marking a historic close above 6,000 points [4]

近日，复星医药旗下复星万邦销售的复泽霖®利丙双卡因乳膏在阿里健康首发。该产品是一种外用表面 麻醉剂，适用于皮肤穿刺及浅层外科手术前的镇痛，已在全球范围内拥有长期应用历史。此次合作，标 志着复星医药进一步拓展院外市场，携手阿里健康共同为消费者提供更便捷、专业、合规的镇痛解决方 案。 作为国家药品监督管理局批准用于皮肤穿刺及浅层外科手术镇痛的处方药，利丙双卡因乳膏自1998年在 中国上市以来，一直是临床基础麻醉的重要选择。 然而，随着医美、男科等消费医疗场景的蓬勃发展，该产品在院外市场的应用也迅速显性化，在男科领 域，它被《早泄诊断与治疗指南》列为一线推荐方案；在蓬勃发展的轻医美市场(如光电项目、微针、 注射等)，它则成为术前镇痛的合规首选。 伴随政策规范的逐步完善与用户需求的日益凸显，复星医药积极推动该产品走向更广阔的市场。此次选 择与阿里健康合作，正是基于作为"新特药首发阵地"在数字化健康服务方面的平台优势，旨在更直接地 触达注重隐私、便捷与安全的消费者。 近年来，利丙双卡因乳膏在公立医院及消费医疗市场均呈现稳步增长。根据微信公众号邴药说的测算， 利丙双卡因乳膏国内市场持续向上增长，2024年利丙双卡因乳膏在 ...