2月20日，港股迎来马年首个交易日。截至收盘，恒生指数报26643.69，跌0.98%，恒生科技指数报 5222.75，跌2.70%。尽管大盘走弱，但人工智能与机器人概念股集体逆市大涨，多只个股再创历史新 高，表现亮眼。 前海开源基金首席经济学家杨德龙认为，从投资的角度来看，机器人预计有三年左右的比较好的投资机 会，2025年相当于是炒概念的阶段，2026年进入到炒订单的阶段，2027年进入到炒业绩的阶段。在2025 年，那些宣布要做机器人相关业务的零部件公司都大涨，但是大家无法分辨哪家公司最终会获得大厂订 单；到2026年，就要逐步来看哪家能拿到大厂的订单，比如进入特斯拉机器人产业链、进入宇树机器人 产业链等等，有可能就会聚焦订单炒作；到2027年就要进入到业绩兑现阶段，看最终能不能释放出业 绩。 2月20日，港股开盘后，AI与机器人概念股全线爆发，机器人概念股中，越疆盘中一度涨超24%，截至 收盘涨21.40%，首程控股涨11.90%，速腾聚创涨9.24%，禾赛-W涨7.93%，优必选、三花智控分别上涨 4.71%、5.57%。 （文章来源：南方都市报） 东吴证券机械研究团队发布观点表示，机器人核心能力进 ...

每日经济新闻消息，2月20日，港股迎来农历马年第一个交易日。三大指数集体下跌，截至收盘，香港恒 生指数收跌1.10%，恒生科技指数收跌2.91%，国企指数收跌1.22%。 据媒体报道，Seedance 2.0大模型以春晚为首个公开应用场景完成首秀，深度参与多项节目视觉制作。本届 春晚中，"AI生成影像+实景舞台扩展"的创新模式引发全网热议，而Seedance 2.0正是这一模式的核心技术 支撑。 招商证券近期发布的研报指出，AI应用领域近期呈现出技术突破与商业化竞争同步深化的鲜明趋势。AI应 用相关技术迎来核心突破。叠加"人工智能+"行动作为国家中长期发展战略，为行业提供坚实长期支撑。 指数估值水位略高，但在产业趋势与政策红利的双重驱动下，上行空间值得期待。 图片来源：每经媒资库 港股机器人概念股集体大涨。截至收盘，越疆上涨21.4%，报48.44港元/股；速腾聚创报37.58港元/股，上 涨9.24%；禾赛-W上涨7.93%，报217.8港元/股；优必选上涨4.71%，报144.5港元/股。 2026年马年春晚圆满落幕，首程控股投资和服务企业松延动力、宇树科技、银河通用三家企业同台亮相， 在舞台上展现了中国 ...

Market Overview - The Hong Kong stock market experienced a reduction in trading days due to the Spring Festival, with the Hang Seng Index declining by 0.58% to 26,413.25 points, the Hang Seng Tech Index falling by 2.78% to 511.50 points, and the National Enterprises Index decreasing by 0.81% to 8,959.56 points [2]. Notable Performers - Star Chain Group (00399.HK) surged by 294.74% after signing a strategic cooperation agreement for a gold asset tokenization project and amid rising expectations for the issuance of stablecoin licenses in Hong Kong [5]. - Bore Power (01685.HK) rose by 71.43%, benefiting from increased demand for high-efficiency power equipment as global data centers are expected to add 14GW of capacity in 2024 [5]. - Haizhi Technology Group (02706.HK) increased by 66.41% following its listing in the AI infrastructure sector, with strong growth potential identified by analysts [5]. Sector Performance - The market showed cautious trading sentiment, with the Hang Seng Index down 1.10%, the Tech Index down 2.91%, and the National Enterprises Index down 1.22% [6]. - Energy stocks strengthened due to geopolitical risks, with Extended Oil International (00346.HK) rising by 3.75%, China Petroleum International (00857.HK) by 3.70%, and CNOOC Services (02883.HK) by 3.20% [6][7]. - Electric power equipment stocks gained traction, with China High-Speed Transmission (00658.HK) up 13.24% and Shanghai Electric (02727.HK) up 5.59%, driven by domestic and international demand [8]. AI and Technology Stocks - Zhipu AI (02513.HK) saw a significant increase of 42.72%, driven by public interest in AI safety following a Spring Festival performance, while Haizhi Technology Group also performed well [9]. - The market reacted positively to advancements in AI technology, with companies like Yujian (02432.HK) and Sutech (02498.HK) also showing strong gains [11]. Entertainment Sector - The entertainment sector faced challenges, with Dama Entertainment (01060.HK) dropping by 5.32% and Cat's Eye Entertainment (01896.HK) by 3.66%, attributed to lower-than-expected box office performance during the Spring Festival [13]. - Concerns about content supply and consumer recovery were noted, impacting market sentiment [13]. Internet and Technology Companies - Major tech companies like Baidu Group (09888.HK) and Alibaba (09988.HK) experienced declines of 6.25% and 4.91%, respectively, due to industry tax policy expectations and increased competition in the AI sector [14]. - Analysts suggest that the current pullback may provide a long-term investment opportunity in core sectors like AI and e-commerce, despite short-term pressures [14]. Individual Stock Movements - Shanghai Xiaonan Guo (03666.HK) rose by 16.67% following a share placement announcement, raising a total of 12.4 million HKD for operational funds [15]. - China Merchants Energy (01138.HK) increased by 6.34%, with expectations of significant growth in tanker profits due to geopolitical tensions and high shipping rates [15].

Market Overview - After the Spring Festival holiday, Hong Kong stocks faced pressure, with the Hang Seng Index dropping 1.1% to 26,413.35 points, and a total trading volume of 165.37 billion HKD [1] - The Hang Seng Tech Index fell 2.91%, while the Hang Seng China Enterprises Index decreased by 1.22% [1] Blue-Chip Stocks Performance - PetroChina (00857) led blue-chip gains, rising 3.7% to 9.52 HKD, contributing 11.57 points to the Hang Seng Index [2] - Other notable blue-chip performances included Henderson Land (00012) up 3% and Midea Group (00300) up 2.73%, while Alibaba (09988) fell 4.91%, dragging the index down by 101.66 points [2] Sector Highlights - The technology sector was a major drag on the market, with Alibaba down nearly 5% and Tencent down over 2% [3] - Robotics stocks surged, with Yujian (02432) up 21.4% following a successful Spring Festival performance, while AI model stocks also showed strong gains [3][4] - Oil stocks rose due to escalating geopolitical tensions, with WTI crude oil prices reaching a high of 66.70 USD per barrel [6] Investment Insights - Analysts suggest that the robotics industry's advancements are crucial for its transition from experimental to practical applications, with significant growth expected from 2021 to 2025 [4] - The AI model sector is transitioning from free trials to paid subscriptions, indicating a shift towards sustainable monetization [4] Notable Stock Movements - SOTON (02498) reported a significant reduction in net losses for 2025, achieving profitability in Q4, which contributed to a 9.24% increase in stock price [8] - COSCO Shipping Energy (01138) rose 6.34% amid expectations of increased tanker profitability due to geopolitical tensions [9] - Stone Four Pharmaceutical Group (02005) issued a profit warning, predicting a 45%-60% decline in profits for 2025 due to various market pressures [10]

每经记者｜马原 每经编辑｜金冥羽 记者|马原 编辑|金冥羽 易启江 校对|程鹏 2月20日，港股迎来农历马年第一个交易日。三大指数集体下跌。截至收盘，恒生指数跌1.1%，报26413.35点，恒生科技指数跌2.91%，国企指数跌 1.22%。 科网股多数下跌，百度集团跌超6%，金蝶国际、哔哩哔哩跌超5%，阿里巴巴跌4.91%，网易跌4.27%，小米集团、中芯国际跌超3%，美团跌1.58%，腾讯 控股跌2.06%。 受马年春晚带动，机器人火速"出圈"，机器人概念股爆发，越疆涨超21%，首程控股涨近12%，速腾聚创涨超9%。 石油概念股上涨，中远海能涨6.34%，中国石油股份涨3.7%，中国海洋石油涨2.23%。消息面上，国际油价近期走高，市场忧虑美国与伊朗紧张局势升 级，两国在中东产油区加强军事活动。 值得一提的是，智谱尾盘涨幅扩大至42.72%，股价报725港元，总市值达3232亿港元。2月以来累计大涨220.51%。 智谱(2513) < C 闭市 02-20 16:08:42 725.000 额32.4亿 股本4.46亿 市盈 万得 MRO 型 换2.38% 市值1 3232 市净 +217.000 +4 ...

Market Overview - The Hong Kong stock market indices experienced a collective decline, with the Hang Seng Index falling by 1.1% to 26,413.35 points, the Hang Seng Tech Index down by 0.9%, and the National Enterprises Index decreasing by 1.55% [1][8] - Technology stocks saw widespread losses, with Baidu dropping over 6%, Alibaba nearly 5%, and Tencent over 2% [1][8] Sector Performance - Despite the overall market downturn, large model and robotics concept stocks surged, with Zhihui rising nearly 43%, MINIMAX increasing over 14%, and both companies' market capitalizations surpassing HKD 300 billion [1][8] - Other notable gains included Yujian up over 21%, Shoucheng Holdings nearly 12%, Sanhua Intelligent Control over 5%, and UBTECH close to 5% [1][8] Real Estate Sector - Some local real estate stocks showed strength, with Hysan Development and Swire Properties B rising over 3%, and Crown Property Trust and Hang Lung Properties increasing over 2% [2][9] - Analysts from Goldman Sachs have upgraded their forecast for Hong Kong property prices from a 5% increase to a 12% increase for the year, citing favorable government visa and immigration policies, a 20% rise in rents over the past three years, and lower mortgage rates encouraging residents to consider buying instead of renting [2][9] Robotics and AI Sector - The robotics sector saw significant growth, with Yujian rising over 19%. The recent CCTV Spring Festival Gala showcased various humanoid robot startups, contributing to heightened interest in the sector [3][10] - Douyin e-commerce reported a staggering 1680% year-on-year increase in GMV for robot products from February 16 to 18, with order volume up 655% [5][12] - AI application stocks also performed well, with Zhihui increasing over 19% following the announcement of a "computing power partner" recruitment plan aimed at optimizing their GLM-5 model [6][14]

据不完全统计，此次亮相春晚的机器人企业中，宇树科技、银河通用、松延动力均为首程控股的被投公司。其中，松延动 力在春晚开演前官宣参演，首程控股正是其第一大外部投资机构，自2024年领投后持续加码；而宇树科技更是第三次登上 春晚舞台，首程不仅提供了资金支持，还为其链接了销售代理与场景资源。 2月20日，首程控股(0697.HK)盘中大涨超12%，报2.36港元，创去年10月以来新高。消息面上，2026年丙午马年春晚，机器 人节目再度刷屏。从宇树科技的灵动机器狗到银河通用的具身智能机器人，多家硬科技企业同台竞技。而在这些闪耀身影 的背后，一家港股上市公司——首程控股（0697.HK)悄然成为最大"幕后赢家"。 港股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：安东 ...

【导读】春晚机器人"刷屏"，港股机器人板块逆市走强 中国基金报记者 晨曦 大家好！上午港股市场不振，机器人板块逆市猛涨，引发关注。 2月20日上午，港股机器人概念股集体走高。截至午间收盘，首程控股涨超11%，报2.34港元/股。 据悉，2026年马年春晚圆满落幕，首程控股投资和服务企业松延动力、宇树科技、银河通用三家企业同 台亮相，在国家级舞台上展现了中国机器人产业在不同细分赛道的技术积淀与落地能力。目前，首程控 股已系统性布局宇树科技、云深处、银河通用、加速进化、星海图、星动纪元、松延动力等行业头部企 业。 越疆机器人同样登上了今年的央视春晚舞台。2026年央视春晚微音乐剧《每道光》中，越疆智能科技有 限公司生产的协作机器人惊艳亮相。据悉，越疆机器人是全球协作机器人领军企业，全球累计部署量超 10万台，位居中国第一、全球前二，产品覆盖15大行业、200余个智能制造场景。 人形机器人龙头优必选，上午一度大涨13%，截至午间收盘涨6.74%。 越疆盘中一度涨超22%，截至午间收盘涨19.2%，报47.56港元/股。 | 最高:156.4 | 今开:142.0 | 成交量:591.48万股 | | --- | - ...

【导读】春晚机器人"刷屏"，港股机器人板块逆市走强 人形机器人龙头优必选，上午一度大涨13%，截至午间收盘涨6.74%。 禾赛-W涨近6.7%，报215.2港元/股。 消息面上，宇树两款人形机器人均搭载禾赛JT128激光雷达，几十台宇树G1机器人与一台H2机器人一同 在舞台上秀出"赛博真功夫"。作为当前搭载具身智能机器人最畅销的迷你型360°激光雷达，禾赛JT系列 激光雷达累计交付量已突破20万颗，成功应用于多款具身智能机器人产品。 港股三花智控上午同步走高，截至午间收盘涨超6%。 今年马年央视春晚，被不少观众称为"科技春晚"，魔法原子、银河通用、宇树科技、松延动力等机器人 厂商登陆2026年央视春晚，各地卫视春晚也以机器人参与节目及串场为特色。机器人扎堆上春晚背后， 市场对机器人概念股也格外关注。 中国基金报记者晨曦 大家好！上午港股市场不振，机器人板块逆市猛涨，引发关注。 2月20日上午，港股机器人概念股集体走高。截至午间收盘，首程控股涨超11%，报2.34港元/股。 据悉，2026年马年春晚圆满落幕，首程控股投资和服务企业松延动力、宇树科技、银河通用三家企业同 台亮相，在国家级舞台上展现了中国机器人产业 ...

首程控股(0697.HK)盘中大涨超12%，报2.36港元，创去年10月以来新高。消息面上，2026年丙午马年春晚，机器人节目再度刷屏。从宇树科技的灵动机器 狗到银河通用的具身智能机器人，多家硬科技企业同台竞技。而在这些闪耀身影的背后，一家港股上市公司——首程控股（0697.HK)悄然成为最大"幕后 赢家"。 据不完全统计，此次亮相春晚的机器人企业中，宇树科技、银河通用、松延动力均为首程控股的被投公司。其中，松延动力在春晚开演前官宣参演，首程 控股正是其第一大外部投资机构，自2024年领投后持续加码；而宇树科技更是第三次登上春晚舞台，首程不仅提供了资金支持，还为其链接了销售代理与 场景资源。 ...