Core Viewpoint - The Hong Kong stock market experienced fluctuations, with internet giants showing resilience, particularly Oriental Selection, which reported significant financial improvements, including a shift from loss to profit [1][4]. Company Performance - Oriental Selection reported total revenue of 2.312 billion yuan for the six months ending November 30, 2025, representing a year-on-year growth of 5.7% [1]. - The company's gross profit reached 842 million yuan, up 14.5% year-on-year, with a gross margin increase to 36.4% [1]. - Notably, Oriental Selection transitioned from a net loss of 96.5 million yuan in the previous year to a net profit of 239 million yuan [1]. Market Trends - The Hong Kong stock market's AI application sector is witnessing accelerated growth, with major companies engaging in competitive strategies to capture market share [4]. - Analysts predict that by the end of 2025 and into early 2026, AI applications will increasingly penetrate the market, driven by significant corporate collaborations and technological advancements [4]. - The Hong Kong Internet ETF (513770) has seen a net inflow of 1.392 billion yuan over the past 20 days, indicating strong investor interest in AI-related stocks [2][4]. Investment Opportunities - The top ten weighted stocks in the Hong Kong Internet ETF include major players like Alibaba, Tencent, Xiaomi, and Kuaishou, collectively accounting for nearly 77% of the index [5]. - The Hong Kong market offers diversified investment options, including the Hong Kong Large Cap 30 ETF (520560), which combines high-growth tech stocks with stable dividend-paying companies [5].

1月29日，港股三大指数低开震荡，互联网龙头逆市走强，截至发稿，快手-W、小米集团-W涨近2%， 腾讯控股跟涨。此外，东方甄选绩后大涨13%，迈富时、阅文集团等AI应用概念股涨幅居前，阿里巴 巴-W，美团-W微跌。 东方甄选最新公布了截至2025年11月30日止六个月的中期业绩。期内，东方甄选总营收达23.12亿元， 同比增长5.7%；毛利为8.42亿元，同比增长14.5%，毛利率提升至36.4%。尤为突出的是，东方甄选从去 年同期的净亏损9650万元，转为实现净利润2.39亿元。 | 序号 | 代码 | 名称 | 两日图 | 现价 | | 涨跌 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 1 | 1797 | 东方甄选 | | 25.120 | 3.020 | 13.67% | | 2 | 2556 | 迈富时 | | 46.400 | 2.740 | 6.28% | | 3 | 2423 | 贝壳-W | | 50.800 | 2.500 | 5.18% | | 4 | 1860 | 汇量科技 | | 15.440 | 0.620 | 4.18% ...

Core Viewpoint - Charoen Pokphand Group (CP Group) has significantly contributed to China's economic development over the past 40 years, evolving from a small seed business to a major multinational corporation with extensive investments across various sectors in China [1][3][4]. Group 1: Company History and Development - CP Group was founded in 1921 by a Chinese immigrant, starting as a small seed shop in Bangkok, Thailand, and has since become one of the largest foreign investors in China [2][3]. - The company established its first modern feed factory in Shenzhen in 1979, marking its entry into the Chinese market [3]. - As of 2024, CP Group operates over 670 enterprises in China, employing more than 80,000 people and generating a total revenue of 208 billion RMB [3][4]. Group 2: Investment Strategy and Market Position - CP Group has maintained a strong commitment to investing in China, adapting to market changes and focusing on high-quality development opportunities [4][10]. - The company emphasizes a "three benefits" business philosophy, prioritizing benefits for the country, the people, and the enterprise [4]. - CP Group's investment strategy includes exploring new business models and expanding its product offerings to meet the evolving demands of Chinese consumers [5][10]. Group 3: Innovations and New Business Models - CP Group is leveraging technology in its operations, such as using smart robotics in egg production, which allows one person to manage 168,000 chickens [5]. - The company is diversifying its product range to include health-oriented options like DHA eggs and selenium-enriched eggs, responding to consumer trends [5][6]. - CP Group is also exploring industrial tourism by transforming its egg production facilities into educational and tourist attractions [5][6]. Group 4: Cultural and Economic Contributions - CP Group has invested in the Hainan coffee industry, revamping the "Sun River" coffee brand and establishing a cultural park that integrates tourism and coffee production [7][9]. - The company aims to enhance local economies by collaborating with farmers and local governments, creating job opportunities and promoting rural revitalization [6][9]. - CP Group's coffee products have gained international recognition, with exports to Australia underlining its commitment to expanding its global footprint [9].

【大河财立方 记者 司高妍 实习生 程小纯 文图】1月26日，河南省十四届人大四次会议开幕，省政府工作报告 在"十四五"时期和2025年工作回顾时提到，胖东来等一批新锐企业向新而生；在2026年重点工作安排时提到，推 广胖东来经验，打造一批带动面广、显示度高的消费新场景。 近年来，在胖东来效应带动下，河南商超集体成为全国零售业的关注焦点，不仅被市场称为"中国商超的河南现 象"，还成为零售业转型升级的学习对象。河南商超集体"破圈"的背后，实质上是其始终坚持"以人为本"、深耕区 域市场，持续优化供应链体系并与时俱进推动创新的结果。 让商业有温度，河南超市集体打造消费新场景 省政府工作报告中提到，2026年要打造一批带动面广、显示度高的消费新场景。当前，河南商超"天团"已有哪些 实践和探索？ 走进淘小胖鲜品馆宝龙广场店，明档厨房升腾的烟火气扑面而来：滋滋作响的现烤羊肉串、热气腾腾的手工大 包、香气四溢的各式卤味等。这些元素打破了传统商超冰冷货架的局限，唤醒消费者的体验欲望。 走进鲜风生活印象汇店，明亮通透的空间、清新雅致的装修，营造出轻盈、时尚、松弛的氛围，打破了传统超市 厚重、沉闷的刻板印象。店内不仅设有丰富的熟 ...

Group 1 - Chengdu has achieved a remarkable consumer performance, with a retail sales growth of 5.5% in 2025, ranking first among sub-provincial cities [1] - Chengdu became a trillion-level consumer city in 2023, and its continued growth is notable amid a complex external environment and insufficient domestic demand [1] - Core cities in central and western China, such as Chengdu, Wuhan, and Chongqing, are experiencing stable consumption growth, outpacing eastern coastal cities, indicating a shift in consumption focus towards the west [1] Group 2 - Chengdu's proactive measures, including the implementation of the "Consumption Promotion Special Action Plan," have contributed to its consumer growth by addressing both supply and demand [3] - The city has introduced various policies, such as subsidies for replacing old consumer goods, and has been recognized as a national pilot city for retail innovation and sports consumption [3] - Chengdu's efforts in enhancing consumer confidence are reflected in the creation of 311,000 new urban jobs and a 7% increase in industrial added value, improving the overall business environment [3] Group 3 - Consumer confidence is fundamentally linked to economic growth, industry upgrades, and urban safety, which collectively foster a positive outlook for future consumption [4] - The relationship between consumer spending and business revenue highlights the cyclical nature of the economy, where increased consumer activity boosts corporate confidence and investment [4] - Sustaining consumer confidence is essential for maintaining economic vitality and ensuring individuals can invest in a better quality of life [4]

格隆汇1月28日丨茂业商业(600828.SH)公布，经公司财务部门初步测算，预计公司2025年实现归属于上 市公司股东的净利润约为-24,166.50万元到-20,138.75万元。与上年同期相比，将出现亏损。预计公司 2025年实现归属于上市公司股东的扣除非经常性损益的净利润约为-7,577.23万元到-5,549.48万元。 ...

Economic Overview - In 2025, China's GDP is projected to grow by 5% year-on-year, reaching 140.19 trillion yuan, with a fourth-quarter growth of 4.5% [1][19] - The industrial added value for large-scale industries is expected to increase by 5.9%, maintaining China's position as the world's largest manufacturing sector [1][19] - The service sector's added value is anticipated to grow by 5.4%, raising its share of GDP to 57.7% [1][19] - Retail sales of consumer goods are projected to grow by 3.7%, with final consumption contributing 52% to economic growth [1][19] - Fixed asset investment is expected to decline by 3.8%, with real estate development investment decreasing by 17.2% [1][19] - By the end of 2025, the national population is estimated to be 1.40489 billion, with a net decrease of 3.39 million people [1][19] Monetary Policy - The one-year Loan Prime Rate (LPR) is set at 3.00%, and the five-year LPR is at 3.50%, both unchanged from the previous month [1][19] - This marks the eighth consecutive month of stability in LPR rates following a reduction of 10 basis points in May 2025 [1][19] Market Performance Futures Market - ICE Brent crude oil rose by 2.94% to $65.44, while COMEX gold increased by 8.44% to $4,983.1 [21][22] - The U.S. dollar index fell by 186.38 basis points, leading to a significant appreciation of the Chinese yuan by 187 basis points [22] Stock Market - The Shanghai Composite Index decreased by 1.54%, while the ChiNext Index fell by 0.34% [23][24] - The CSI 500 Index saw an increase of 4.34%, indicating a strong sentiment in the domestic market [24] Bond Market - Short-term credit bonds saw an increase, while long-term bonds experienced a decline, with the 10-year national development bond dropping by 4 basis points [29] - The overall bond rates are expected to fluctuate downwards due to significant net injections from MLF operations amid weakening economic data [29] International Relations - The Greenland crisis has seen a turnaround, with U.S. President Trump announcing a framework agreement with NATO Secretary General Jens Stoltenberg, which could benefit the U.S. and NATO members [2][20] - The announcement led to a rise in U.S. stock indices, with all three major indices increasing by over 1% [20] Investment Outlook - The recent economic data indicates a potential rebound in China's economy, supported by relaxed real estate policies and increased birth subsidies [32] - The ongoing geopolitical tensions, particularly regarding Greenland, may impact asset prices and macroeconomic conditions [32]

聚焦深化城市更新行动精准攻坚。坚持城市内涵式发展，完善功能、塑优品质，增强承载能力。加 力片区更新，深化中心城区9大片区规划设计，实施总投资209亿元的123个重点城建项目；深化精细治 理，加强完整社区建设，拓展"城市管理进社区"服务；推动宜居安居，加快构建房地产发展新模式，大 力推进"好房子"建设；激发城镇活力，强化"三镇"建设示范带动作用，推动乡镇驻地扩容提质。 报告中提出八项重点工作： 聚焦拓展需求增长空间精准攻坚。把握政策取向，统筹促消费、扩投资，持续增强拉动作用。更大 力度扩大投资，提速735个省、市、县三级重点项目，完成投资1200亿元；更实举措释放消费，实施提 振消费专项行动，推进零售业创新，落实落细以旧换新政策；更高质效做强现代服务业，实施新一轮服 务业攻坚行动，"一业一策"精准补短提升。 聚焦提升优势产业能级精准攻坚。坚持不懈巩固壮大实体经济根基，深化集成赋能，"耐心"培育一 批优质项目和支柱产业，挺起产业发展"硬脊梁"。壮大主导产业。统筹推进传统产业提升、新兴产业壮 大、未来产业布局；培强优势企业。实施优质工业企业成长计划，健全公共服务体系。 聚焦激活释放发展动力精准攻坚。以重大战略为牵引 ...

2026 年 01 月 28 日 双融日报 --鑫融讯 分析师：万蓉 S1050511020001 wanrong@cfsc.com.cn 市场情绪：55 分（中性） 最近一年大盘走势 资料来源：Wind，华鑫证券研究 -10 -5 0 5 10 15 20 25 30 (%) 沪深300 相关研究 | 1、《双融日报》2026-01-27 | | --- | | 2、《双融日报》2026-01-26 | | 3、《双融日报》2026-01-23 | ▌ 华鑫市场情绪温度指标：（中性） 华鑫市场情绪温度指标显示，昨日市场情绪综合评分为 55 分，市场情绪处于"中性"。历史市场情绪趋势变化可参 考图表 1 ▌ 热点主题追踪 今日热点主题：化工、银行、消费 1、化工主题："十五五"规划强调扩大内需，叠加美国降息 周期，化工品需求预期提升。行业供需双底基本确立，政策 助力产能出清，且资本开支连续两年负增长，供给端持续收 缩。市场普遍预计，2026 年化工行业将迎来周期拐点，有望 实现从估值修复到业绩增长的"戴维斯双击"，开启新一轮 上 升 周 期 。 相 关 标 的 ： 卫 星 化 学 （ 002648 ） 、 云 ...

近日，永辉超市北京大兴一调改门店突然停业一事引发关注。 1月26日深夜，北京永辉超市就鸿坤广场店暂停营业一事发布声明称，该店此次暂停营业，系因物业方在未与公司进行有效沟通及达成一致 的情况下，自2026年1月15日起，物业方单方面多次采取断水、断暖等措施，阻碍门店正常营业。1月23日，公司通过水源车运水至收货 口、水桶搬运至门店来恢复生产营业，物业方则采取封闭扶梯、直梯、铁马阻拦等方式关闭所有顾客能进入门店的通道，最终致使门店被 迫闭店。物业方声称"擅自闭店"的说法与上述事实严重不符。 图片来源：北京永辉超市微信公众号截图 就相关费用问题，永辉超市称，物业方声明中所涉款项，其中存在部分缺乏合同及事实依据。此外，因北京鸿坤伟业房地产开发有限公司 对外存在债务纠纷，公司此前已收到法院相关文件，要求公司暂停支付房租以保障债权人利益，此文件内容公司早在收到文件时同步出租 方及相关方，出租方及相关方对此信息已知晓。因此物业方提出的欠缴房租与事实不符。 永辉超市还表示，目前，永辉超市在北京的其他所有门店均正常运营。对于鸿坤广场店，公司仍在积极与相关方沟通，尽最大努力争取门 店早日恢复营业。 当日稍早时候，北京鸿坤广场购物 ...