浙商证券发布研报称，华宝国际经营逐步企稳，烟用原料高增，是国内外HNB链条上游原料核心标 的。展望25年下半年，公司将继续加快国际化发展步伐、加大海外市场开拓力度，强化供应链管理，通 过收购兼并实现双轮驱动、提供增长动力等。作为参考，25年上半年公司账上现金+交易性金融资产60 亿元。 消息面上，华宝国际近日发布公告，根据2024年购股权计划提出向若干合资格参与者授出1.48亿份购股 权。考核目标为收入增长2026/2027/2028年较2025年增长不低于10%/20%/30%。据悉，华宝国际上半年 实现收入16.21亿元，同比增长2.5%；归母净利润1.18亿元，同比298%；经调整后期间盈利1.92亿元， 同比增长2.1%。 （原标题：港股异动 | 华宝国际(00336)早盘涨超4% 公司发布股权激励强化信心 后续将加大海外市场开 拓力度） 智通财经APP获悉，华宝国际(00336)早盘涨超4%，截至发稿，涨5.43%，报4.27港元，成交额1569.85万 港元。 ...

Group 1 - Hua Bao International (00336) saw a significant increase in stock price, rising over 4% in early trading and reaching a gain of 5.43%, priced at 4.27 HKD with a trading volume of 15.6985 million HKD [1] - The company announced a stock option plan for 2024, granting 148 million stock options to eligible participants, with performance targets set for revenue growth of no less than 10%/20%/30% for the years 2026/2027/2028 compared to 2025 [1] - For the first half of the year, Hua Bao International reported revenue of 1.621 billion CNY, a year-on-year increase of 2.5%, and a net profit attributable to shareholders of 118 million CNY, reflecting a substantial year-on-year growth of 298% [1] Group 2 - Zheshang Securities (601878) released a report indicating that Hua Bao International's operations are stabilizing, with significant growth in tobacco raw materials, positioning the company as a core player in the upstream raw materials of the HNB (Heat Not Burn) supply chain [1] - Looking ahead to the second half of 2025, the company plans to accelerate its international development, enhance efforts in overseas market expansion, and strengthen supply chain management through mergers and acquisitions to drive growth [1] - As a reference, the company reported cash and trading financial assets totaling 6 billion CNY as of the first half of 2025 [1]