香港科技探索（01137）发布公告，香港电子商贸业务于2026年1月的表现，在2025年12月一贯的季节性 放缓后，录得显著反弹。 平均每日订单总商品交易额按月上升13.9%至 2380万港元（2025年12月： 2090万港元），带动每月订单总商品交易额达7.39亿港元（2025年12月：6.49亿港元）。独立客户数目 上升6.1%至64万名（2025年12月：60.3万名），而每月活跃独立设备数目则维持稳定于156.3万（2025 年12月： 157.2万）。 有关回升主要由假期后消费需求所带动，该等需求或因本地居民外游人次按月下降约 9.6% 而获得支持 并配合农历新年前的提前消费。上述因素共同推动订单量及客户活跃度上升。 集团2026年1月的香港电子商贸业务 （不包括HKTVmall现金券的销售）的平均每日订单数量为5.09 万，环比增长11.4%，同比增长13.9%；平均订单值468港元，环比增长2.2%，同比减少9.5%；平均每日 订单总商品交易额为2380万港元，环比增长13.9%，同比增长3.0%；每月订单总商品交易额为7.39亿港 元，环比增长13.9%，同比增长3.1%。 责任编辑：卢昱君 ...

2.独立客户数目上升6.1%至64万名(2025年12月：60.3万名)，而每月活跃独立设备数目则维持稳定于 156.3万(2025年12月：157.2万)。 格隆汇2月16日丨香港科技探索(01137.HK)发布公告，香港电子商贸业务于2026年1月的表现，在2025年 12月一贯的季节性放缓后，录得显著反弹。 有关回升主要由假期后消费需求所带动，该等需求或因本地居民外游人次按月下降约9.6%而获得支 持，并配合农历新年前的提前消费。上述因素共同推动订单量及客户活跃度上升。 1.平均每日订单总商品交易额按月上升13.9%至2380万港元(2025年12月：2090万港元)，带动每月订单总 商品交易额达7.39亿港元(2025年12月：6.49亿港元)。 ...

Summary of Conference Call Notes Industry or Company Involved - The notes primarily discuss the macroeconomic environment and policy directions in China, with a focus on the implications for various industries and sectors, particularly in the context of the upcoming political meetings and economic strategies. Core Points and Arguments 1. **Expectations from the Zhengyu Conference**: There is a high expectation for the Zhengyu Conference due to existing complex internal and external challenges, including low inflation and changes in international order, particularly regarding tariffs [1][2][3] 2. **Policy Continuity**: The commentary emphasizes that the policy direction remains stable and consistent since the 924 meeting, with ongoing efforts to implement and strengthen economic policies [2][5] 3. **Focus on Economic Growth**: The upcoming 20th Central Committee meeting is expected to provide a clear direction for economic growth, with a focus on physical achievements and modernization over the next 15 years [3][8] 4. **Dynamic Policy Implementation**: The government is committed to dynamic policy implementation to stabilize and promote economic growth, with a focus on both short-term and long-term strategies [5][11] 5. **Impact of US-China Relations**: The recent easing of tensions in US-China relations is seen as beneficial for foreign investment and trade, reducing external risks for the Chinese economy [6][17] 6. **Role of Major Economic Provinces**: Major economic provinces are highlighted as key players in stabilizing growth and tax revenue, with an emphasis on their role in fostering new market capabilities and long-term planning [9][10] 7. **Consumer Spending and Economic Recovery**: The notes indicate that consumer spending is expected to improve as basic living conditions stabilize, which will further support economic recovery [14][18] 8. **Technological Innovation**: Emphasis is placed on the importance of technological innovation as a driving force for modern industrial development and economic growth [14][15] 9. **Investment Opportunities**: The discussion includes potential investment opportunities in sectors such as AI, high-end equipment, and rare metals, suggesting a rotation strategy in the market [24][25] Other Important but Possibly Overlooked Content 1. **Market Sentiment**: There is a noted increase in market sentiment and confidence among investors, particularly in light of recent policy announcements and economic indicators [4][20] 2. **Government Measures**: The government is expected to implement measures to enhance market inclusivity and trust, particularly in attracting foreign investment [20][21] 3. **Sector-Specific Insights**: The notes provide insights into specific sectors that may benefit from current policies, including consumer goods and technology, indicating a nuanced understanding of market dynamics [24][25]

美联储理事库格勒：零售销售显示出一些提前消费的迹象，未来消费者支出可能会出现一定程度的回 调。 ...