Core Viewpoint - Daiwa has raised its profit forecast for Dongfang Zhenxuan (01797) by 42% to 97% for the next two years, based on better-than-expected gross merchandise volume and gross margin performance [1] Group 1: Financial Performance - Dongfang Zhenxuan reported an adjusted net profit of 257 million RMB for the first half of the 2026 fiscal year, reversing last year's loss [1] - The company achieved a strong gross margin of 36%, with its own brand gross margin expanding from 24% to 29%, driven by economies of scale and contributions from high-margin health, nutrition, and daily consumer products [1] Group 2: Market Outlook - Daiwa has reiterated a "outperform" rating for the stock, raising the 12-month target price from 13.5 HKD to 29 HKD, applying a 32 times price-to-earnings ratio for the average earnings per share over the next two years (previously 23 times) [1] - The firm has turned more positive on the company's outlook, believing it has overcome operational challenges, with significant growth potential from its own brand development, structural reduction in operating costs, and the opening of non-Douyin channels [1]

Group 1 - The Hong Kong stock market opened higher on February 3, with the Hang Seng Stock Connect China Technology Index (HSSCT.HK) rising by 1.1% [1] - Notable gainers in the index included Huahong Semiconductor, which increased by nearly 4%, and Gao Wei Electronics, which rose over 3% [1] - The Hong Kong Technology 30 ETF (513160) saw an intraday increase of 1.57%, with a trading volume exceeding 27 million yuan, making it the top performer in its category [1] Group 2 - Oracle has initiated a USD bond issuance plan, aiming to raise a total of USD 45 billion to 50 billion to expand its cloud infrastructure capabilities [2] - The bond transaction is expected to range between USD 20 billion and 25 billion, with the issuance potentially divided into up to eight parts, with maturities from 3 to 40 years [2] - Recent performance in the Hong Kong stock market is attributed to overseas liquidity dynamics and a pause in interest rate cuts by the Federal Reserve, with expectations for a "spring rally" in the technology sector driven by sentiment and AI industry growth [2]

智通财经APP获悉，根据2026年2月2日披露数据，盈富基金（02800）、中铝国际（02068）、海普瑞 （09989）港股通持股占比增加值最大，分别增加1.72%、1.11%、1.04%；亿华通（02402）、浙江世宝 （01057）、东方甄选（01797）港股通持股占比减少值最大，分别减少-1.36%、-0.90%、-0.80%。 | 公司名称 | 占比值变动 | 最新持股比例 | | --- | --- | --- | | 盈富基金(02800) | +1.72% | 2.63% | | 中铝国际(02068) | +1.11% | 18.55% | | 海普瑞(09989) | +1.04% | 45.93% | | 南方恆生科技(03033) | +0.94% | 65.16% | | 中石化油服(01033) | +0.86% | 15.98% | | 长飞光纤光缆(06869) | +0.75% | 57.93% | | 碧桂园(02007) | +0.68% | 17.44% | | 中伟新材(02579) | +0.50% | 17.08% | | 南华期货股份(02691) | +0.4 ...

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Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a potential stock price increase of 5% to 15% over the next six months [5]. Core Insights - The company reported a revenue of 2.312 billion yuan for the first half of FY2026, representing a year-on-year growth of 5.7%, and achieved a net profit of 239 million yuan, marking a turnaround from losses [1]. - The growth in Gross Merchandise Volume (GMV) is driven by self-operated products, which accounted for 52.8% of total GMV, up from 43.8% in FY2025. The total GMV for FY2026H1 was 4.1 billion yuan, a decrease of 15% [2]. - The company has expanded its product categories to 801 SKUs, including new categories like seafood and health supplements, enhancing consumer choices and driving sales [2]. - Profitability has significantly improved, with gross margin increasing from 33.6% to 36.4%, attributed to supply chain expansion and category growth. The net profit margin for FY2026H1 was 10.34% [2]. Membership Growth and Brand Recognition - The company has seen a continuous increase in paid membership, reaching 240,000, with its app contributing 18.5% to total GMV. The self-operated GMV through the app remained stable at 28.6% [3]. - The company is expanding its sales channels across multiple platforms, with plans to open its first offline experience store in Beijing in 2026, which is expected to enhance brand influence [3]. Financial Projections - The company forecasts adjusted net profits of 497 million yuan, 540 million yuan, and 590 million yuan for FY2026, FY2027, and FY2028, respectively [3]. - Revenue projections for the upcoming years are as follows: 4.828 billion yuan in FY2026, 5.254 billion yuan in FY2027, and 5.633 billion yuan in FY2028, reflecting growth rates of 9.92%, 8.84%, and 7.21% respectively [4].

具体盘面上，黄金一度暴跌1000美元，业内提示警惕抄底风险，黄金股带领有色金属股集体下挫，其 中，山东黄金、赤峰黄金均大跌超12%，灵宝黄金、紫金黄金国际、招金矿业等多数跌超8%以上； 2026开年新能源战报显示环比全线下跌，汽车股全天低迷，比亚迪股份、小鹏汽车跌近7%，汽车融资 租赁概念股喜相逢集团闪崩暴跌逾73%；半导体芯片股、煤炭股、生物医药股、石油股、保险股、内房 股等纷纷走低。 另一方面，澳门1月博彩收入胜预期，支撑濠赌股逆势上扬，三胎概念股多数活跃，直播概念龙头东方 甄选涨超4%。(格隆汇) 贵金属雪崩触发全球金融市场暴跌，港股今日三大指数再度大幅下跌，恒生指数一度跌至3.2%，最终 收跌2.23%重挫超600点报26775点，国企指数跌2.54%，恒生科技指数盘中更是一度大跌4.3%，收跌 3.36%并且录得3连跌行情。 ...

智通财经APP获悉，港股恒生指数跌2.4%，跌656点，报26730点；恒生科技指数跌3.68%。港股早盘成 交1781亿港元。 三大运营商早盘大跌拖累恒生指数，基础电信服务增值税率上调至9%，将影响公司营收和利润。中国 联通(00762)跌8%；中国电信(00728)跌7.62%；中国移动(00941)跌2.88%。 中国神华(01088)跌超5%，煤炭销量及均价下降，预计去年利润同比减少6.3%至14.7%。 东方甄选(01797)涨2.7%，近三日股价累涨近三成，此前公告上半财年实现扭亏。 珍酒李渡(06979)涨超4%，机构称看好白酒板块或迎十年大底投资机会。 芯片股早盘走低，传多家厂商严控存储芯片订单，防止客户过度囤积。华虹半导体(01347)跌超10%，兆 易创新(03986)跌7.52%。 亿华通(02402)跌7.97%，预计2025年度归母净亏损同比增加20.50%到57.74%。 纳芯微(02676)跌5.89%，公司预计2025年全年亏损2亿至2.5亿元。 加密货币ETF及概念股走低，币圈遭遇"血洗"，比特币一度跌破76000美元。嘉实以太币(03179)跌 18%；华夏以太币(0304 ...

公开资料显示，港股通互联网ETF基金（520910）今日重磅上市，跟踪中证港股通互联网指数，定位鲜 明聚焦港股互联网龙头，成分股中涵盖有望在后续AI加速渗透中持续受益的阿里巴巴、腾讯控股、小 米集团、美团、快手等港股互联网龙头。截至发稿，该ETF成交额逼近800万元成分股中，心动公司、 狮腾控股、金山云、东方甄选等涨幅领先。 （文章来源：每日经济新闻） 距离2026年春节假期还有两周左右，科技大厂之间已"硝烟"渐起。2月1日，腾讯旗下元宝App春节10亿 元红包活动开启。在苹果商店免费App排行榜上，元宝已超过字节跳动旗下豆包升至第一名。2026年春 节的红包大战，已然演变为一场以AI为核心引擎、争夺下一代流量超级入口的战略卡位战。随着豆 包、千问、混元等大模型能力不断提升，AI技术作为生产力工具，有望深度融入营销、电商等成熟赛 道，实现从流程优化到价值重构的跨越。 中航证券指出，大模型进入智能体执行时代，AI应用落地与政策支持共振加速，国内外大模型能力 从"内容生成"跃迁至"流程代理"，技术范式跃迁与商业价值转化正同步加速。在开源生态繁荣、政策全 链支持、应用落地提速的背景下，建议重点关注以下两类投资主线： ...

每经AI快讯，东方甄选(01797.HK)一度涨超9%，绩后股价累涨近三成。截至发稿，涨5.1%，报28.04港 元，成交额4.58亿港元。 （文章来源：每日经济新闻） ...

Core Viewpoint - Oriental Selection (01797) experienced a significant stock price increase, rising over 9% at one point and accumulating nearly a 30% increase post-earnings report [1] Financial Performance - The company reported total revenue of 2.312 billion RMB for the six months ending November 30, 2025, representing a year-on-year increase of 5.7% [1] - The profit attributable to the company's owners was 239 million RMB, marking a turnaround from a loss to profit [1] - Gross profit reached 841.6 million RMB, up 14.5% year-on-year, with the gross margin improving from 33.6% to 36.4% [1] Strategic Initiatives - The company is actively promoting a multi-live room and multi-anchor strategy, continuously developing high-margin self-operated products [1] - It possesses content advantages in the GEO marketing environment, contributing to a strong increase in gross margin for the first half of FY26 [1]