Group 1: Overall Market Performance - As of January 5, 2026, over 280 Hong Kong-listed companies have released annual performance forecasts for the fiscal year ending December 31, 2025, with more than 10 companies providing specific earnings outlooks [1] - The precious metals prices have been rising, leading to generally positive performance in the non-ferrous metals industry, while innovative pharmaceutical companies have also seen significant growth due to increased demand in biopharmaceutical research [1] Group 2: Non-Ferrous Metals Industry - The non-ferrous metals industry is expected to be a major contributor to profits in the Hong Kong market for 2025, benefiting from rising global commodity prices and optimized production capacity [2] - Zijin Mining Group forecasts a net profit of 51 billion to 52 billion yuan for 2025, representing a year-on-year increase of approximately 59% to 62%, with a non-recurring net profit of 47.5 billion to 48.5 billion yuan, up about 50% to 53% [2] - Zijin Mining anticipates production of approximately 90 tons of gold, 1.09 million tons of copper, and 437 tons of silver in 2025, with significant increases in sales prices for these minerals [2] Group 3: Other Non-Ferrous Metals Companies - Zijin Gold International expects a net profit of approximately 1.5 billion to 1.6 billion USD for 2025, an increase of about 212% to 233% compared to the previous year, driven by increased gold production and favorable market conditions [3] - Chifeng Jilong Gold Mining anticipates a net profit of 3 billion to 3.2 billion yuan for 2025, reflecting a year-on-year increase of approximately 70% to 81%, attributed to higher gold production and sales prices [3] Group 4: Innovative Pharmaceuticals and Smart Driving - Innovative pharmaceutical company Baiaosaitu expects a net profit of 135 million yuan for 2025, a year-on-year increase of 303.57%, driven by successful overseas market expansion and growing domestic biopharmaceutical research demand [4][5] - Hesai Technology projects revenue of 3 billion to 3.5 billion yuan for 2025, with GAAP profits of 200 million to 350 million yuan, and Non-GAAP profits expected to rise to 350 million to 500 million yuan, alongside a significant increase in lidar shipments [5] Group 5: Traditional Industries Facing Challenges - Citic Resources anticipates a net profit of approximately 170 million to 230 million HKD for 2025, representing a decline of 60% to 70% year-on-year, primarily due to a significant drop in average selling prices of crude oil and rising raw material costs [6] - New Iron Ore Resources expects a net loss of approximately 2.2 million USD for 2025, attributed to decreased iron ore supply from major suppliers and weakened demand [7]

Core Viewpoint - The Hong Kong stock market is experiencing a peak in earnings forecasts for the fiscal year ending December 31, 2025, with significant growth expected in the non-ferrous metals and innovative pharmaceutical sectors due to rising commodity prices and increased demand for biopharmaceutical research [1][2]. Non-Ferrous Metals Industry - The non-ferrous metals industry is projected to be a major contributor to profits in the Hong Kong stock market for 2025, benefiting from rising global commodity prices and optimized production capacity [4]. - Zijin Mining Group expects a net profit of approximately 51 billion to 52 billion yuan for 2025, representing a year-on-year increase of about 59% to 62% [4]. - The increase in Zijin Mining's profits is attributed to higher production volumes and sales prices of gold, copper, and silver [5]. - Zijin Gold International anticipates a net profit of about 1.5 billion to 1.6 billion USD for 2025, an increase of approximately 212% to 233% compared to the previous year, driven by increased gold production and favorable market conditions [6]. - Chifeng Jilong Gold Mining expects a net profit of 3 billion to 3.2 billion yuan for 2025, reflecting a year-on-year increase of about 70% to 81%, primarily due to higher gold production and sales prices [6]. Innovative Pharmaceuticals and Smart Driving - The innovative pharmaceutical sector is also expected to see significant profit growth, with companies like Baiaosaitu forecasting a net profit of 135 million yuan for 2025, a year-on-year increase of 303.57% [9]. - The growth in Baiaosaitu's profits is attributed to successful expansion in overseas markets and the increasing demand for biopharmaceutical research in China [10]. - Hesai Technology projects revenues of 3 billion to 3.5 billion yuan for 2025, with a significant increase in lidar shipments expected to reach 1.2 million to 1.5 million units, representing a year-on-year growth of 139% to 200% [11]. Traditional Industries Facing Challenges - In contrast to the growth in non-ferrous metals and innovative sectors, some traditional industries are experiencing cyclical pressures, with companies like CITIC Resources forecasting a net profit decline of 60% to 70% for 2025 due to falling oil prices and rising raw material costs [14]. - CITIC Resources expects a net profit of approximately 170 million to 230 million HKD, significantly impacted by the decrease in average selling prices of crude oil and the loss of profits from joint ventures [14]. - New Mine Resources anticipates a net loss of approximately 2.2 million USD for 2025, primarily due to reduced iron ore supply and weak demand [14].

Core Viewpoint - Hesai Technology's stock price increased by 5.9% in Hong Kong, leading to a pre-market rise of 5.5% in the US, driven by the announcement of a partnership with NVIDIA for the "NVIDIA DRIVE AGX Hyperion 10 platform" and plans to double production capacity by 2026 [1] Group 1: Company Developments - Hesai Technology has been selected by NVIDIA as a laser radar partner for the "NVIDIA DRIVE AGX Hyperion 10 platform" [1] - The company announced plans to double its annual production capacity to 4 million units by 2026 [1] - A new generation of L3 automotive laser radar solutions has been showcased, with the first mass production point for passenger vehicles expected to start by the end of 2026 or early 2027 [1] Group 2: Stock Performance - Hesai's stock closed at $24.250, with a pre-market price of $25.590, reflecting a 5.53% increase [2] - The stock's highest price during the trading session was $24.490, and the lowest was $23.790, with a trading volume of 1.4743 million shares [2] - The company's total market capitalization is approximately $3.786 billion, with a price-to-earnings ratio of 53.65 [2]

Core Viewpoint - Hesai Technology (2525.HK) has been selected by NVIDIA as a lidar partner for the "NVIDIA DRIVE AGX Hyperion 10 platform," which aims to support L4 autonomous driving for various vehicle types [1] Group 1: Partnership and Market Impact - The partnership with NVIDIA is expected to enhance Hesai's position in the autonomous driving market, providing a reference architecture for sensor integration [1] - The stock price of Hesai surged by 8% to HKD 198 following the announcement, indicating positive market sentiment [1] Group 2: Production Capacity Expansion - Hesai plans to double its annual production capacity from 2 million units in 2025 to 4 million units in 2026 to meet the growing demand for lidar in ADAS and robotics [1] - This expansion reflects the increasing market demand for advanced driver-assistance systems and robotics applications [1]

（原标题：禾赛科技激光雷达主体外观专利获授权，可用于自动驾驶等领域） 企查查APP显示，近日，上海禾赛科技有限公司"激光雷达的主体（33）"专利获授权。企查查专利摘要显示，本外观设计产品是用于自动驾驶、 通讯、无人机、智能机器人、能源安全检测、资源勘探等领域的激光雷达，其设计要点在于形状。 游戏ETF (产品代码：159869) ★ 跟踪：中证动漫游戏指数 相关ETF 食品饮料ETF (产品代码: 515170) ★ 跟踪：中证细分食品饮料产业主题指数 近五日涨跌: -1.06% 市盈率： 20.24倍 资金流向: 最新份额为103.4亿份,减 少了1350.0万份,净申 赎-740.1万元。 估值分位:19.16% 近五日涨跌:4.00% 近五日涨跌: - 0.06% 市盈率： 37.26倍 资金流向: 最新份额为87.6亿份, 增加 了0.0份,净申赎0.0元。 估值分位:55.98% 科创50ETF (产品代码: 588000) ★ 跟踪：上证科创板50成份指数 市盈率：167.30倍 资金流向: 最新份额为537.1亿份, 增 加了6.2亿份, 净申赎8.8亿 元。 估值分位: 96.90% 云计算5 ...

Core Viewpoint - RoboSense's AC2, a groundbreaking sensor system, will be showcased at CES 2026, marking a significant advancement in robotics technology [1] Group 1: Company Developments - RoboSense's AC2 is the industry's first super sensor system that integrates solid-state dToF LiDAR, dual RGB cameras, and IMU, aimed at enhancing robotic operations in complex environments [1] - The company has secured orders from 32 automotive manufacturers and Tier 1 suppliers for 144 vehicle models, indicating strong demand in the automotive sector [1] Group 2: Market Potential - The AC series is expected to open long-term growth opportunities for RoboSense, with positive outlooks on the demand for LiDAR products and their commercialization potential [1] - The advancements in ADAS and high-level autonomous driving are driving robust order inflow for the company [1]

Core Viewpoint - RoboSense's AC2, a groundbreaking sensor system, will be showcased at CES 2026, marking a significant advancement in robotics technology [1] Group 1: Company Developments - RoboSense's AC2 is the industry's first super sensor system that integrates solid-state dToF LiDAR, dual RGB cameras, and IMU, aimed at enhancing robots' capabilities in complex environments [1] - The stock of Suoteng Juchuang (02498) rose by 4.12% to HKD 38.96, with a trading volume of HKD 401 million [1] Group 2: Market Opportunities - The company has secured orders from 32 automotive manufacturers and Tier 1 suppliers for 144 vehicle models, benefiting from the rapid development of ADAS and advanced driving assistance systems [1] - The AC series is expected to open long-term growth opportunities, with strong demand for RoboSense's LiDAR products and their commercialization potential [1]

Core Viewpoint - Citigroup analysts predict that NVIDIA's new AI platform, open models, and ecosystem will create demand for autonomous ride-hailing services and support global growth [1] Group 1: Market Growth Projections - The global autonomous taxi market is expected to grow from $4.43 billion in 2025 to $188.91 billion by 2034 [1] - The potential market for autonomous taxis in China is projected to increase from $39 million in 2025 to $67.59 billion by 2035 [1] Group 2: Beneficiaries of Growth - NVIDIA's initiatives may boost investor confidence and directly benefit companies like Pony.ai and WeRide from a software perspective [1] - Automotive manufacturers such as BYD, Geely, Great Wall Motors, SAIC Motor, and Xiaomi, as well as ride-hailing platform Didi, are likely to benefit from the growth of the autonomous taxi industry [1] - In the hardware sector, Chinese lidar sensor manufacturer Hesai Technology is expected to gain from this market expansion [1]

Core Viewpoint - Hesai Technology, a leading company in the lidar industry, announced plans to double its annual production capacity from 2 million units in 2025 to 4 million units in 2026 to meet the growing demand for lidar in the ADAS and robotics sectors [1] Group 1 - The company has secured partnerships with several leading overseas automotive manufacturers and domestic new forces for L3 autonomous driving [1] - Hesai's next-generation L3 automotive-grade lidar solution has received its first mass production designation for passenger vehicles, with production expected to start by the end of 2026 or early 2027 [1]

禾赛-W(02525)急涨逾4%，截至发稿，涨3.88%，报190.3港元，成交额3776.21万港元。 消息面上，禾赛科技宣布，公司已被英伟达选定为"NVIDIA DRIVE AGX Hyperion 10平台"的激光雷达 合作伙伴。此外，禾赛科技在CES 2026上宣布，将该公司规划年产能由2025年的200万台提升至2026年 的400万台，实现翻倍增长。 ...