Market Overview - The Hong Kong stock market opened lower on February 5, with the Hang Seng Index down 219.37 points, a decline of 0.82%, closing at 26,627.95 points [1] - The Hang Seng Tech Index fell by 70.55 points, down 1.31%, to 5,295.89 points [1] - The China Enterprises Index decreased by 69.92 points, a drop of 0.77%, to 8,978.46 points [1] - The Red Chip Index declined by 8.89 points, down 0.2%, to 4,363.4 points [1] - The previous day saw mixed performance among the three major indices, with the Hang Seng Index closing in the green while the Hang Seng Tech Index experienced a drop of over 2% at one point [1] Company Performance - Xinda Biologics (01801.HK) reported a projected total product revenue of approximately RMB 11.9 billion for 2025, reflecting a year-on-year growth of about 45% [2] - Lee & Man Paper Manufacturing (02314.HK) anticipates a profit of approximately HKD 1.88 billion to HKD 2.00 billion for 2025, representing a year-on-year increase of 38% to 47% [2] - ZTO Express (02057.HK) expects total revenue for 2025 to be between RMB 48.5 billion and RMB 50 billion, with a year-on-year growth of about 9.5% to 12.9% due to increased parcel volume [2] - China Resources Cement (01313.HK) forecasts a year-on-year profit increase of approximately 115% to 135% for 2025, driven by cost reductions and decreased impairment losses [2] - Gemdale Corporation (00535.HK) reported a total contract sales amount of approximately RMB 239 million in January, a year-on-year decrease of 61.82% [3] - Fosun International (00656.HK) plans to subscribe to additional registered capital of Shangan Technology for RMB 105 million, acquiring a 51.0879% stake post-capital increase [3] - Shanghai Pharmaceuticals (02607.HK) intends to transfer its 30% stake in Amgen for a minimum listing price of approximately RMB 1.023 billion [3] Corporate Actions - Caocao Travel (02643.HK) completed a placement of 12 million shares at HKD 32.46 per share, raising approximately HKD 383 million [4] - Kingsoft (03888.HK) repurchased 1.0886 million shares for HKD 29.99 million, with repurchase prices ranging from HKD 27.18 to HKD 28 [5] - Xiaomi Group (01810.HK) spent HKD 146 million to repurchase 4.3 million shares at prices between HKD 33.94 and HKD 34.02 [6] - Kingdee International (00268.HK) repurchased 1 million shares for HKD 11.0597 million, with prices between HKD 11.05 and HKD 11.1 [7] Industry Insights - Guosen Securities remains optimistic about the spring market, suggesting a focus on performance-based investments despite potential negative impacts from the rebound of the US dollar index and rising US Treasury yields [8] - CICC noted advancements in global large model technology capabilities, particularly in reasoning and programming, while highlighting ongoing limitations in general capabilities [9] - Xinda Securities pointed out the continuous improvement of regulations in the domestic intelligent connected vehicle sector, with an expected market size of RMB 270 billion for Robo-taxis by 2030 and a projected increase in the logistics vehicle industry value to RMB 594.8 billion by 2030 [9]

Group 1 - The company, ZTO Express (02057), announced a bond issuance of $1.5 billion at a purchase price of 98.9% of the principal amount, with the initial buyers agreeing to purchase the bonds under certain conditions [1] - The initial conversion price is approximately $30.9473 per share, representing a premium of about 37.5% over the closing price of $22.51 per American Depositary Share on the NYSE on February 3, 2026 [2] - The estimated net proceeds from the bond issuance are approximately $1.404 billion, with the bonds convertible into about 4.84695 million shares, leading to a net price per share of approximately $28.9692 [2] Group 2 - Concurrently with the bond pricing, the company agreed to repurchase approximately 18.2544 million Class A ordinary shares, representing about 2.29% of the total shares outstanding as of February 3, 2026, and about 37.66% of the convertible shares [3]

Group 1 - The company, ZTO Express, announced the issuance of $1.5 billion in notes, with an initial purchase price of 98.9% of the principal amount [1] - The initial conversion price is approximately $30.9473 per share, representing a premium of about 37.5% over the closing price of $22.51 per American Depositary Share on February 3, 2026 [1] - The estimated net proceeds from the issuance are approximately $1.4041 billion, with the potential to issue 4.84695 million shares based on the initial conversion rate [1] Group 2 - The company has entered into capped call transactions with initial buyers, with the premium for these options amounting to approximately $76.95 million, which is about 5.1% of the total principal amount of the notes [2] - Concurrently, the company agreed to repurchase approximately 18.2544 million Class A ordinary shares, representing about 2.29% of the shares outstanding as of February 3, 2026, and about 37.66% of the conversion shares [2]

格隆汇2月5日丨中通快递-W(02057.HK)发布公告，2026年2月4日耗资32.69亿港元回购1825.44万股，回 购价格每股179.1港元。 ...

智通财经APP讯，中通快递-W(02057)发布公告，于2026年2月4日斥资32.69亿港元回购1825.44万股。 ...

聚焦高质量发展这个任务，快递行业正在不断打开思路。比如，不少快递企业已经逐步摒弃"以价换 量"旧模式，通过解决末端服务不告而投、丢失损坏等细节问题，积极改善服务体验，促进快递服务质 效双提升。此外，为了顺应绿色消费、快递进村、快递出海等新趋势，快递行业不妨持续深化与现代农 业、先进制造业、现代商贸等领域的融合发展，从而提升全链条一体化交通物流服务能力，推动构建现 代化产业体系。 行业数智化转型也在提速。比如，推广应用无人配送技术，深化无人车、无人机等在行业试点应用；推 广智能分拣、智能云仓、智能安检等自动化设施设备，加快智能派件、智能路由等先进技术应用，进一 步创造新的增长空间，有效支撑消费活力持续释放。 快递业连接千城百业、服务千家万户、融通供需两端，是经济运行的毛细血管。国家邮政局数据显示， 2025年，我国快递业务收入完成1.5万亿元，同比增长6.5%；快递业务量完成1989.5亿件，同比增长 13.6%。一年近2000亿件，月均百亿件，这意味着每秒处理约6000件包裹，如此庞大的物流体量在寄递 网络中顺畅流转，靠的是什么？ 我国目前已建成世界上规模最大、受益人数最多的寄递网络，农村网络持续向下延伸，国 ...

本报讯 记者昨日获悉，今年1月海南邮政快递业保持稳定发展态势，其中全省快递业务收寄量超3000万 件，同比增长约35%；快递业务处理量完成1.7亿件，同比增长超16%。 记者 沈丽焕 今年以来，海南省邮政快递业聚焦自贸港封关政策制度落实，积极培育更加开放的邮政快递市场。其 中，海南邮政国际互换局兼交换站实现稳定运营，推动进出境邮件在海口直封直达；在海口国际快件监 管中心，快递企业通过常态运行墨尔本、奥克兰、悉尼至海口等国际寄递航线，实现日均跨境电商进口 业务国际快递业务量约1600件；利用全货机航线开通法国、南非等地区跨境电商，助力企业和消费 者"买全球卖全球"；邮政快递企业还为部分自贸港加工增值免关税政策享惠主体，提供快递"进厂"服 务。 据海南省邮政管理局副局长程淳洪介绍，1月份，海南省单日快递业务收寄量突破100万件的天数达19 天，较去年同期突破100万件天数增长超200%；单日最高处理量达625万件，当天为全省60%人口提供 快递服务。 ...

Group 1 - The core viewpoint of the article highlights the stable development of the postal and express delivery industry in Hainan Province, with significant growth in both business volume and processing capacity in January 2023 [1][3]. - In January, Hainan's express delivery business volume exceeded 30 million pieces, representing a year-on-year increase of approximately 35%, while the processing volume reached 170 million pieces, up over 16% year-on-year [1][3]. - The number of days with daily express delivery volume exceeding 1 million pieces reached 19, a growth of over 200% compared to the same period last year, with a single-day peak processing volume of 6.25 million pieces [3]. Group 2 - The Hainan postal and express delivery industry is focusing on the implementation of the Hainan Free Trade Port's closure policy, actively cultivating a more open postal and express market [3]. - The Hainan International Exchange Bureau has achieved stable operations, facilitating direct mail delivery for inbound and outbound packages, and supporting cross-border e-commerce with an average of 1,600 international express deliveries daily [3]. - The postal express companies are providing "in-factory" services for entities benefiting from the duty-free processing policies in Hainan, enhancing service quality and extending services to the industrial and supply chains [3][4]. Group 3 - The Hainan Postal Administration plans to strengthen departmental collaboration, optimize the policy environment, and accelerate the construction of rural delivery logistics systems [4]. - There is a continuous push for the integration of international express delivery and cross-border e-commerce to support the stable development of Hainan's industrial and supply chains [4].

中通表示，收入总额的估计增长主要受包裹量由2024年的340.1亿件增加至2025年的385.2亿件（同比增 长13.3%）所带动。 北京商报讯（记者 何倩）2月4日，中通发布公告，预计2025年收入总额介乎485亿元—500亿元，较 2024年的442.81亿元增长约9.5%—12.9%；预计2025年毛利介乎121.5亿元—125.5亿元，较2024年的 137.17亿元减少约8.5%—11.4%。 ...

格隆汇2月4日丨根据联交所最新权益披露资料显示，2026年1月30日，极兔速递-W(01519.HK)获JPMorgan Chase & Co.以每股均价10.1711港元增持好仓 7102.2万股，涉资约7.22亿港元。 增持后，JPMorgan Chase & Co.最新持好仓数目为466,745,359股，持好仓比例由4.99%上升至5.88%。 | 股份代號: | 01519 | | --- | --- | | 上市法國名稱: | 極免速遞環球有限公司 - W | | 日期 (日 / 月 / 年): | 04/01/2026 - 04/02/2026 | | 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | --- | --- | --- | --- | --- | --- | --- | | | 版分数目 | | | | (語參閱上述*龍 | 有投票權股(日 / 月 / 年) | | | | | | | | 份自分 F | | CS20260204E00262 | JPMorgan ...