每日港股評析 港股早晨快訊 2025 年 10 月 102012 日星期五 -01-17 市場回顧 中港股市短期展望 恒指上望 28,000 點：中美雙方同意延長 5 月中旬達成的 90 天關稅休戰 協議，同時美國與更多國家達成協議，關稅戰局勢緩和。另外，聯儲局主 席鮑威爾在全球央行年會上表示，風險平衡轉變可能需要調整政策立場， 同時美國就業數據轉弱，減息預期升溫。惟聯儲局 9 月鷹派減息，明年減 息空間少於預期。儘管港股企業盈利未見改善，但 AI 行情再起，科技股 領漲大市，加上 10 月四中全會事前料有政策憧憬，恒指上望 28,000 點。 短期看好板塊 今日市場焦點 ➢ 美國 10 月密歇根大學消費信心指數； 宏觀焦點 ➢ 內地兩部門指無序競爭或導致劣幣驅逐良幣； 內地首8月規模以上工業中小企增加值按年增7.6%； 內地黃金周出遊8.88億人次，總花費逾8090億元人民幣； 內地國慶檔電影票房跌13%； 中國對境外相關稀土物項實施出口管制； 中方將反無人機技術公司等列入不可靠實體清單； 畢馬威指香港有望今年重奪全球IPO榜首地位； 歐洲央行議息會議記錄顯示不急於再減息； 企業消息 ➢ 舜宇光學(2382 ...

開電車的朋友 你最怕的是不是 這個場面 續航焦慮 早就過時了 現在最讓人崩潰的 就是充電排隊！ 但是特斯拉車主 遇到 這種事的機率 已經低到可以 忽略不計了 官方數據顯示 全球特斯拉超充站 需要排隊的機率 只有0.6%！ 也就是說 你開去一百次 可能連一次隊 都不用排！ 有人可能會說 是不是車賣不動了 沒人用啊？ 正好相反！ 特斯拉的超充網路 現在比前幾年 忙了快三倍！ 還開放給了 福特通用 等多個品牌的用戶 客人越來越多 隊伍反而 越來越短！ 這簡直是反常識啊！ 馬斯克到底 是怎麼做到的？ 這背後藏著一個 把對手都給 看傻了的陽謀 想知道答案 來看我的 揭秘視頻吧. ...

港股點評 2025年10月9日9:30 a.m 恒指跌 128 點，標普 500 升 39 點 港股下跌。恒指低開 57 點後幅擴大，曾跌 440 點見 26,517 點，其後跌幅收窄， 全日跌 128 點或 0.5%，收 26,829 點；國指跌 49 點或 0.5%，收 9,523 點；恒生 科技指數跌 36 點或 0.6%，報 6,514 點。大市全日成交總額 1,738.03 億元。 美國政府停擺進入第二周的進展，標普 500 指數和納指周三創下盤中新高及收 市新高。納指在三大股指中領先，收升 255 點或 1.1%，至 23,043 點。標普 500 指數高收 39 點或 0.6%至 6,753 點，當中，資訊科技、公用事業和工業板塊均創 下收市高位。道指高開低收，最終微跌 1 點收市，報 46,601 點。 三一重工(600031.SH) 就在港上市集資 15 億美元，計劃最快下周開始評估投資 者興趣。三一重工料本周進行聯交所上市聆訊，料未來數周在港上市，將成為 今年以來本港最大 IPO 之一。 比亞迪(01211.HK) 發佈 9 月產銷快報，9 月份新能源汽車銷量為 39.63 萬輛， 按年下 ...

Core Insights - The report highlights a significant increase in gold prices, reaching a new high of $3,830, with a year-to-date increase of nearly 46% [8] - The focus on AI technology continues to grow, with advancements in inference applications expected to drive industry transformation and enhance corporate profitability [8] - The report identifies key investment themes for the coming years, including AI, power infrastructure, and medical automation [8] Market Overview - The U.S. stock market showed positive movement, with the Dow Jones increasing by 68 points and the S&P 500 rising by 0.26% [10] - The Hang Seng Index closed up by 494 points (1.9%), reflecting optimism in the Hong Kong market following strong industrial profit data from mainland China [12] - The report notes that the global market is currently observing the U.S. employment data to assess the Federal Reserve's interest rate outlook [10] Investment Strategies - The report suggests a focus on "steady growth and diversified defense" in the fourth quarter, emphasizing the importance of active management and precise timing in a volatile environment [8] - High-yield bonds and emerging market hard currency bonds are highlighted as attractive investment options [8] - Specific stock recommendations include ASMPT, which is positioned well in the semiconductor and AI chip sectors, and Jiuzhou Intelligent Investment Holdings, which is expected to benefit from increased market liquidity [18][20] Economic Data - Key economic indicators to be released include China's manufacturing and non-manufacturing PMI for September, with expectations of 49.6 and 50.2 respectively [17] - The report also mentions the upcoming U.S. consumer confidence index and job openings data, which are critical for understanding the economic landscape [17]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED 中國恒大新能源汽車集團有限公司 （於香港註冊成立之有限公司） （股份代號：708） 復牌程序季度更新 及 繼續停牌 中國恒大新能源汽車集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）謹此提述本 公司(i)日期為2025年3月3 1日的公告（，內容有關（其中包括）延遲刊發本集團截至2024年1 2 月3 1日止年度之全年業績以及本公司股份（「股份」）於香港聯合交易所有限公司（「聯交所」） 主 板 暫 停 買 賣，(ii)日期為2025年8月1日 的 公 告，內 容 有 關（其 中 包 括）傅 曼 儀 女 士（「傅 女 士」）辭任本公司獨立非執行董事（「 8月公告」），及(iii)日期為2025年4月1 7日及2025年8月7 日有關聯交所發出復牌指引的公告。 本公司董事會謹此提供於本公告日期本公司的最 ...

Market Overview - US stock market is under pressure due to rising long-term bond yields, with the 10-year US Treasury yield reaching 4.3043% and the UK 30-year yield hitting 5.72% [8][10] - Gold prices have increased for six consecutive days, reaching a new high of $3,539 per ounce, driven by heightened risk aversion [8] - A-shares are experiencing active financing, with margin trading balances rising to 2.29 trillion RMB, indicating an increased willingness to allocate assets in China [8][12] Company Focus - Three Life Pharmaceuticals reported a revenue of 4.36 billion RMB for the first half of 2025, a slight decrease of 0.8% year-on-year, but net profit attributable to shareholders increased by 24.6% to 1.36 billion RMB, reflecting significant improvement in profitability [21] - China Bank's mid-year results showed a revenue growth of 3.6% year-on-year, with total assets reaching 36.79 trillion RMB, a 4.93% increase from the end of last year, making it a defensive investment choice in the Hong Kong banking sector [21] - Li Jin Technology, a leader in die-casting and injection molding, is expected to benefit from the automation and smart manufacturing market due to its partnerships with several new energy vehicle manufacturers [21] Economic Data - The US ISM manufacturing index for August slightly rose to 48.7, remaining below the neutral level of 50 for six consecutive months, indicating ongoing contraction in manufacturing activity [10] - China's economic data showed weakness, with July industrial output, retail sales, and fixed asset investment all underperforming expectations, leading to predictions of further economic slowdown in August [12] Investment Strategy - Recommended investments include gold ETFs like GLD or IAU due to strong demand for safe-haven assets [8] - A-shares ETFs such as CSI300 or Shanghai-Shenzhen 300 index ETFs are suggested for exposure to the recovering Chinese market [8] - The report highlights ASE Technology Holding Co., which holds over 30% market share in the global semiconductor packaging and testing market, benefiting from the surge in AI chip demand [23]

Market Performance - Hang Seng Index (HSI) fell by 120 points or 0.5%, closing at 25,496 points[1] - National Index dropped by 13 points or 0.2%, ending at 9,108 points[1] - Hang Seng Tech Index decreased by 70 points or 1.2%, closing at 5,728 points[1] - Total market turnover was HKD 328.119 billion[1] Economic Indicators - People's Bank of China conducted a 7-day reverse repurchase operation of CNY 255.7 billion at a steady rate of 1.4%[1] - CNY appreciated by 17 points against USD, with a midpoint rate of 7.1089[1] A-Share Market Trends - A-share indices experienced declines, with Shenzhen Component Index and ChiNext Index dropping over 2%[1] - Shanghai Composite Index reached a high of 3,885 points before closing down 17 points or 0.45% at 3,858 points[1] Real Estate Market Insights - Shanghai's second-hand housing market saw a daily net signing of 1,103 units on August 30, a three-month high[3] - August's second-hand home transactions exceeded 19,900 units, marking a year-on-year increase of approximately 12% and a month-on-month increase of 3.44%[3]

Market Performance - The Hang Seng Index opened 96 points higher and closed 78 points or 0.3% up at 25,077 points, with a daily trading volume of HK$335.601 billion. The H-share Index rose 30 points or 0.35% to 8,947 points, and the Hang Seng Tech Index climbed 30 points or 0.5% to 5,674 points [1]. - A-share major indices advanced, with the ChiNext performing strongly, rising over 2%. The Shanghai Composite Index closed at 3,857 points, up 14 points or 0.4%, with a trading volume of RMB 1.22 trillion. The Shenzhen Component Index ended at 12,696 points, up 124 points or 1%, with a turnover of RMB 1.58 trillion. The ChiNext Index finished at 2,890 points, up 62 points or 2.2%, with a trading volume of RMB 763.8 billion [1]. - US stocks fell on Friday as investors took profits ahead of the US Labor Day long - weekend. The S&P 500 Index dropped 41 points or 0.6% to 6,460 points, the Nasdaq Composite Index declined 249 points or 1.2% to 21,455 points, and the Dow Jones Industrial Average closed 92 points or 0.2% lower at 45,544 points [2]. Macroeconomic Data - The PBOC conducted 782.9 billion yuan of seven - day reverse repurchase operations on the 29th, with an unchanged operating rate of 1.4%. With 361.2 billion yuan of reverse repurchases maturing, the net injection for the day was 421.7 billion yuan. The central parity rate of the RMB against the US dollar was raised by 33 points to 7.1030, and the PBOC raised the RMB central parity rate by 0.65% in August, the largest increase since September last year [1]. - Japan's S&P Manufacturing PMI final value for August was revised down to 49.7, slightly lower than the initial value of 49.9 but better than July's 48.9 [2]. - The US Washington, D.C. Circuit Court of Appeals ruled 7 - 4 that the reciprocal tariffs and multiple tariffs against China, Canada, and Mexico introduced by US President Trump in April were illegal [2]. - China's manufacturing PMI in August rose to 49.4, up 0.1 percentage point month - on - month, slightly lower than the market expectation of 49.5, and remained in the contraction zone for five consecutive months [3]. - In August, the average price of new homes in 100 cities was RMB 16,910 per square meter, up 0.20% month - on - month and 2.73% year - on - year. The average price of second - hand homes in 100 cities was RMB 13,481 per square meter, down 0.76% month - on - month and 7.34% year - on - year [3]. Company News Acquisition and Business Expansion - Huahong Semiconductor (01347.HK) plans to acquire the remaining 97.4988% equity of Shanghai Huali Microelectronics' 12 - inch integrated circuit wafer foundry service business from Huahong Group, Shanghai Integrated Circuit Fund, National Integrated Circuit Industry Fund II, and Guotou Leading Fund to achieve full ownership. The consideration includes cash and the issuance of consideration shares at an issue price of RMB 43.34, a 44.79% discount to the pre - suspension closing price of A - shares [3]. - SMIC (00981.HK) is planning to acquire a 49% stake in its subsidiary SMIC North through the issuance of A - shares. The company's A - shares will be suspended from trading starting September 1, 2025, with an expected suspension period of no more than 10 trading days [6]. Financial Results - Giant Group Legend (06683.HK) reported a six - month interim revenue of RMB 355 million for the period ended June, a 33% year - on - year increase. New consumer business revenue was RMB 211 million, up 91.5%. Gross profit was RMB 156 million, up 16.3%. Net profit was RMB 10.27 million, down 58.9% mainly due to a fair - value loss of RMB 19.5 million on Hong Kong - listed equity securities investments [4]. - Agricultural Bank of China (01288.HK) reported a net profit of RMB 139.51 billion for the six - month period ended June, a 2.7% year - on - year increase. Earnings per share were 0.37 yuan, and an interim dividend of 0.1195 yuan per share was declared [4]. - CR Beverage (02460.HK) reported a six - month revenue of RMB 6.206 billion for the period ended June, a 18.5% year - on - year decrease. Gross profit was RMB 2.896 billion, down 22.8%. Net profit was RMB 805 million, down 28.6%. Earnings per share were 0.34 yuan, and an interim dividend of 0.118 yuan per share was declared [4]. - China Shenhua (01088.HK) reported a six - month revenue of RMB 138.109 billion for the period ended June, an 18.3% year - on - year decrease mainly due to a decline in coal sales volume and average selling price, achieving 43.2% of the annual target. Net profit was RMB 26.706 billion, down 14.8%. Earnings per share were 1.344 yuan, and an interim dividend of 0.98 yuan per share was declared [5]. - Midea Group (00300.HK) reported a six - month revenue of RMB 252.331 billion for the period ended June, a 15.7% year - on - year increase. Net profit was RMB 26.014 billion, up 25%. Earnings per share were 3.41 yuan, and an interim dividend of RMB 5 per 10 shares was declared [6]. - BYD Co., Ltd. (01211.HK) reported a six - month turnover of RMB 371.281 billion for the period ended June, a 23.3% year - on - year increase, mainly benefiting from the growth of the new - energy vehicle business. Net profit was RMB 15.511 billion, up 13.8%. Earnings per share were 1.71 yuan, and no dividend was declared [6]. - China Railway Construction Corporation Limited (01186.HK) reported a turnover of RMB 489.199 billion for the six - month period ended June, a 5.2% year - on - year decrease. Net profit was RMB 10.701 billion, down 10.1%. Earnings per share were 0.7 yuan, and no dividend was declared [6]. - Alibaba - W (09988.HK) (BABA.US) reported a first - quarter revenue of RMB 247.652 billion for the period ended June 30, 2025, a 1.8% year - on - year increase. Excluding the disposed businesses of Sun Art Retail Group (06808.HK) and Intime, the revenue on a comparable basis increased 10% year - on - year [7]. - Industrial and Commercial Bank of China (01398.HK) reported a net profit of RMB 168.103 billion for the six - month period ended June, a 1.4% year - on - year decrease. Earnings per share were 0.46 yuan, and a dividend of RMB 1.414 per 10 shares was declared, a 1.4% decrease compared to last year's interim dividend of RMB 1.434 per 10 shares [7]. Policy Impact - The US Trump administration announced the revocation of the technology - use exemptions for Samsung Electronics, SK Hynix, and Intel's subsidiaries in China, which will significantly weaken their manufacturing capabilities in China and may disrupt the global supply chain [2][3].

Market Index Performance - The Hang Seng Index dropped 202 points or 0.8% to close at 24,998 points, affected by individual stock performance on the futures settlement day [1]. - The Shanghai Composite Index rose 43 points or 1.14% to close at 3843 points, while the Shenzhen Component Index rose 276 points or 2.25% to 12571 points, and the ChiNext Index rose 103 points or 3.82% to 2827 points. The STAR 50 Index rose over 7%, hitting a 3 - year high [2]. - The S&P 500 Index rose 20 points or 0.3% to 6,501 points, the Dow Jones Industrial Average rose 71 points or 0.2% to 45,636 points, and the Nasdaq Composite rose 115 points or 0.5% to 21,705 points, all hitting record - closing highs [2]. Central Bank Operations - The People's Bank of China conducted 416.1 billion yuan of seven - day reverse repurchase operations on the 28th, with an operating rate unchanged at 1.4%. With 253 billion yuan of reverse repurchases maturing, the net injection was 163.1 billion yuan [2]. - The central parity rate of the RMB against the US dollar was raised by 45 points to 7.1063, reaching the highest level since November 6 last year [2]. Company Performance - China National Offshore Oil Corporation's domestic natural gas daily output exceeded 100 million cubic meters, hitting a new high [3]. - Haier Smart Home (06690.HK) reported a 10.2% year - on - year increase in revenue to 156.469 billion yuan, a 10.6% increase in gross profit to 41.24 billion yuan, and a 15.6% increase in net profit to 12.033 billion yuan in the six - month interim results ending in June. It will pay a dividend of 2.69 yuan per 10 shares [3]. - China Feihe (06186.HK) reported a 9.4% year - on - year decrease in revenue to 9.151 billion yuan, a 17.8% decrease in gross profit to 5.635 billion yuan, and a 46.7% decline in net profit to 1 billion yuan in the six - month interim results ending in June. It will pay an interim dividend of 12.09 HK cents [3]. - ZTE Corporation (00763.HK) reported a 14.5% year - on - year increase in operating revenue to 71.553 billion yuan, but a 11.8% decline in net profit attributable to shareholders to 5.058 billion yuan in the six - month interim results ending in June. It will not pay a dividend [3]. - Li Auto - W (02015.HK) reported a 2% year - on - year decrease in revenue to 56.172 billion yuan, a 0.7% decrease in gross profit to 11.385 billion yuan, and a 2.8% increase in net profit to 1.743 billion yuan in the interim results ending at the end of June [4]. - BeiGene (06160.HK) reported a 44.5% year - on - year increase in revenue to 2.411 billion US dollars in the interim results ending at the end of June this year. It turned from a loss to a profit of 95.59 million yuan, compared with a loss of 372 million yuan in the same period last year. It will not pay a dividend [4]. Policy News - The Office of the United States Trade Representative announced the extension of the exemption period for the 301 investigation into China's actions, policies, and practices regarding technology transfer, intellectual property, and innovation. The original expiration date on the 31st was extended to November 29 [2].

Core Viewpoint - Xiaomi's stock price is currently experiencing volatility, with technical indicators suggesting a potential short-term rebound despite being in an oversold condition [1][12]. Technical Analysis - As of August 13, 2025, Xiaomi's stock price is at 52.5 HKD, showing a 1.55% increase. The RSI indicator is at 31, indicating an oversold condition. The stock price has fallen below the 10-day moving average (52.98 HKD) and the 30-day moving average (56.02 HKD), but is supported near the 60-day moving average (54.97 HKD) [1]. - The William and stochastic indicators are signaling a buy, contrasting with the MACD sell signal, suggesting a possible technical rebound in the short term [1]. - Key support levels are identified at 49.7 HKD and 46.4 HKD, while resistance levels are at 54.5 HKD and 57 HKD. A significant market volatility is indicated by an 8% fluctuation over five days [3]. Market Sentiment - Recent trading activity shows a capital inflow of 35 million HKD into Xiaomi's call options over the past five trading days, indicating investor interest in capitalizing on potential rebounds [1]. - The stock has seen fluctuations, with a recent low of 50.1 HKD and a previous high of over 60 HKD, reflecting investor concerns amid competitive pressures in the automotive sector [1]. Derivative Products Performance - Recent recommendations for derivative products have shown strong performance, with certain bull certificates experiencing gains of 30% and 24% in a short period, demonstrating the effectiveness of leveraged products in a rebound scenario [5]. - New recommendations for call options include HSBC's call option with a strike price of 60.65 HKD and a leverage of 7.2 times, suitable for speculative rebound plays [8]. Investment Strategy - Investors are advised to monitor the support level at 49.7 HKD closely. If this level holds, there may be opportunities for gradual accumulation [3]. - For bearish investors, options with lower strike prices and higher leverage are available, providing hedging opportunities against potential declines [8][10].