Group 1 - The Hong Kong stock market experienced a significant drop in the Hang Seng Tech Index, which fell by 3.37% at one point, with major internet companies like Kuaishou, Bilibili, Baidu, Tencent, and Alibaba seeing declines of over 6% [1][3] - The decline in tech stocks was triggered by rumors regarding adjustments to the recognition of high-tech enterprises and related tax policies in China, which have circulated since 2019 without any concrete implementation [3] - Huachuang Securities believes that the rumors are an over-interpretation without solid evidence, and that increasing taxes on internet companies would contradict the current policy aimed at promoting consumption [3] Group 2 - As of January 30, 2026, the Hang Seng Index's price-to-earnings (PE) ratio is at 12.47 times, which is in the 82nd percentile since 2010, while the price-to-book (PB) ratio is at 1.27 times, in the 63rd percentile since 2010 [3] - Galaxy Securities indicates that the tech sector remains a long-term investment focus, with multiple favorable factors such as price increases in the supply chain, domestic substitution, and accelerated AI applications expected to drive upward momentum [3] - Guangfa Securities suggests that the current global dollar cycle is peaking and receding, with the RMB entering a mild appreciation phase, creating a favorable re-pricing window for Chinese equity assets [3]

据券商中国，2月3日早盘冲高的港股市场，突然大跳水。导致市场杀跌的主因，还是"税收"传闻。在互 联网巨头股价杀跌过程当中，一则关于"中国将调整高新技术企业认定及相关税收新政"的消息传播很 广。分析人士认为，这类"小作文"在市场上传播已经不是第一次，去年外媒亦有过类似的报道，但随后 也未落地。后面还需要保持跟踪，相信政策出台会谨慎。华创证券认为，上述传闻属于过度推演，并没 有切实的依据。同时，互联网企业加税或直接传导至C端消费者，这与目前促进消费的大方针相悖，逻 辑不可外推。 来源：市场资讯 （来源：科创100ETF基金） ...