每经记者｜曾子建 每经编辑｜袁东 银河证券表示，10月是关键的政策布局窗口，资本市场预期稳中有升。银河证券指出，A股和港股市场可能受益于长期政策布局、密集的产业催化事件以及相对宽松的流动性环境。A股的机遇可 封面图片来源：图片来源：每经记者 梁枭 摄 今日（10月2日）是国庆节第二天，港股市场恢复交易，港股早盘小幅高开。截至发稿，恒生指数开盘报26918点，上涨62点，涨幅0.23%；恒生科技指数报6483点，上涨17点，涨幅0.27%。 焦点公司方面，宁德时代（03750.HK）早间高开近5%，股价突破600港元大关。而在本周二，宁德时代A股报收于402元人民币，截至今日开盘，宁德时代H股较A股溢价幅度达36.63%。 太平洋证券表示，根据公司半年度报告，宁德时代2025年上半年实现收入1788.86亿元，同比增长7.27%；实现归母净利润304.85亿元，同比增长33.33%；扣非净利润271.97亿元，同比增 此外，又见公司股价暴跌。今日早间，新明中国（02699.HK）下跌超80%，股价最低报0.51港元，大跌之后该公司市值已低于6000万港元。9月30日，公司公布中期业绩亏损1.37亿元，上年 该公 ...

此外，又见公司股价暴跌。今日早间，新明中国(02699.HK)下跌超80%，股价最低报0.51港元，大跌之后该公司市值已低于6000万港元。9月30日，公司公 布中期业绩亏损1.37亿元，上年同期亏3.35亿元。 该公司主要从事物业开发、物业投资以及物业租赁，主要通过三个分部运营其业务。物业开发分部从事物业开发及销售；物业租赁分部从事出租物业；其 他分部从事投资控股。 盘面上，科网股涨跌不一，快手涨超4%，阿里巴巴、京东涨超2%，网易跌超2%，哔哩哔哩跌超1%。黄金股部分上涨，紫金黄金国际涨超9%；创新药概 念多数高开，三生制药涨超5%；芯片股普涨，贝克微涨超4%。 今日(10月2日)是国庆节第二天，港股市场恢复交易，港股早盘小幅高开。截至发稿，恒生指数开盘报26918点，上涨62点，涨幅0.23%；恒生科技指数报 6483点，上涨17点，涨幅0.27%。 焦点公司方面，宁德时代（300750）(03750.HK)早间高开近5%，股价突破600港元大关。而在本周二，宁德时代A股报收于402元人民币，截至今日开盘， 宁德时代H股较A股溢价幅度达36.63%。 太平洋证券表示，根据公司半年度报告，宁德时代2025 ...

Core Insights - The trend of traditional industry analysts shifting towards emerging technologies like AI and robotics has become a necessity for career development in the current market environment [1][3][5] - Since the "9·24" market event, emerging technology themes have dominated the market, while traditional cyclical industries have been neglected [2][3] Group 1: Market Trends - Emerging technology sectors, including electronics, computers, and medical biology, have seen significant trading volumes, with the average trading amount of the top five sectors being 19 times that of the bottom five sectors [3] - The average increase in share prices for the top five sectors since "9·24" is 80%, surpassing the average increase of nearly 40 percentage points for the bottom five sectors [3] Group 2: Analyst Behavior - Analysts from traditional sectors are increasingly incorporating emerging technologies into their research, with some even organizing field research on robotics applications in property management [2][5] - The speed at which traditional industry analysts respond to technology news has improved, matching that of their counterparts in the tech sector [2][3] Group 3: Cross-Industry Trends - The trend of analysts crossing into new fields is seen as a necessary adaptation, with some analysts stating that without this shift, they would struggle to remain relevant [5][6] - The historical context shows that traditional industries can still hold investment value, as evidenced by past performance in sectors like coal and cement during market recoveries [6] Group 4: Future Outlook - Despite the shift towards technology, there remains a demand for in-depth research in traditional sectors, as some analysts continue to produce well-received reports [6] - The overall trend indicates a decline in the number of analysts focused on traditional industries, as newer firms concentrate on technology and biotech sectors [6][7]

Group 1 - Traditional industry analysts are increasingly incorporating AI and robotics into their research focus, reflecting a shift in market dynamics and professional necessity [1][2][10] - The "technology bull market" has significantly outperformed traditional industries since September 24, with new technology sectors attracting more market attention and investment [10][14] - Analysts from traditional sectors, such as real estate and building materials, are now actively promoting technology-related stocks, indicating a broader trend of cross-industry research [4][8][15] Group 2 - The performance of various sectors since September 24 shows a stark contrast, with technology-heavy sectors like electronics and computers leading in both trading volume and price appreciation [11][12][14] - Despite the trend towards technology, traditional industries still hold value, particularly in high-dividend sectors like coal and utilities, which are seen as attractive investment options in a low-interest-rate environment [16][17] - The decline in the number of analysts covering traditional sectors suggests a shift in focus towards technology and high-growth industries, with some smaller firms eliminating positions in cyclical industries [17][18]

Core Viewpoint - The company anticipates a significant loss for the fiscal year ending June 30, 2025, primarily due to non-cash fair value revaluation losses and one-time losses from the termination of the Cole Haan business [1][2]. Group 1: Financial Performance Expectations - The company expects a loss attributable to shareholders between approximately HKD 170 million and HKD 190 million for the fiscal year ending June 30, 2025, compared to a profit of approximately HKD 102 million for the same period in 2024 [1]. - The manufacturing segment's revenue is expected to decrease compared to the segment revenue of approximately HKD 1.066 billion in 2024, with a forecasted pre-tax loss for the fiscal year ending June 30, 2025, compared to a pre-tax profit of approximately HKD 110 million in 2024 [1]. - The retail segment's revenue is expected to increase compared to the segment revenue of approximately HKD 528 million in 2024, but it is projected to incur a pre-tax loss due to a one-time significant loss of approximately HKD 83.568 million from the termination of the Cole Haan business [2]. Group 2: Property Investment Segment - The property investment segment's revenue is expected to decrease compared to the segment revenue of approximately HKD 12.399 million in 2024, with an anticipated increase in pre-tax loss compared to the pre-tax loss of approximately HKD 3.359 million in 2024 [2]. - The anticipated significant non-cash fair value reduction of approximately HKD 105 million to HKD 115 million in property investments is attributed to intense competition in the office market, weak demand, economic uncertainty, and geopolitical factors leading to a decline in premium office prices in Hong Kong [2]. Group 3: Dividend Policy - Despite the expected losses for the fiscal year ending June 30, 2025, the company's board has confirmed that the dividend policy will remain unchanged [3].

Core Viewpoint - Guohao Group (00053.HK) announced a 9% increase in revenue to HKD 24.4 billion for the fiscal year ending June 30, 2025, driven by growth in the hotel and leisure segment and strong sales performance in Singapore's residential projects [1] Revenue Growth - The group's revenue increased by HKD 1.2 billion due to continuous business growth in the hotel and leisure sector [1] - The property development and investment segment contributed an additional HKD 800 million to revenue growth, attributed to strong sales performance and phased recognition of sales in Singapore [1] Profitability - The group recorded an audited net profit attributable to shareholders of HKD 4.0307 billion, representing a 13% increase compared to the previous year [1] - The increase in profit was primarily due to strong performance across most segments, although some profits were offset by declines in the property development and investment segment [1] - Basic earnings per share rose to HKD 12.39, up from HKD 11.01 in the previous year [1]

Core Viewpoint - Zhongze Feng (01282.HK) announced the sale of a property for a total consideration of HKD 35.854 million, with proceeds intended for general working capital [1] Group 1 - The seller, Super Glory Investment Limited, is a wholly-owned subsidiary of the company [1] - The buyer is Kaizhong Electric Motor Commutator Limited [1] - The transaction is set to be completed on September 10, 2025 [1]

Core Viewpoint - Future World Holdings (00572) reported a significant increase in revenue and profit for the first half of 2025, indicating strong operational performance in its hotel and property management services [1] Financial Performance - The company achieved a revenue of HKD 58.254 million, representing a year-on-year growth of 146.9% [1] - Profit attributable to shareholders was HKD 17.703 million, reflecting a year-on-year increase of 35.3% [1] - Basic earnings per share were HKD 0.06 [1] Revenue Drivers - The increase in revenue was primarily driven by enhanced earnings from the group's hotel operations and supporting services, as well as property investment, management, and brokerage services [1]

Core Viewpoint - Future World Holdings (00572) reported a significant increase in revenue and profit for the first half of 2025, indicating strong operational performance in its hotel and property management services [1] Financial Performance - Revenue reached HKD 58.254 million, representing a year-on-year growth of 146.9% [1] - Profit attributable to owners amounted to HKD 17.703 million, reflecting a year-on-year increase of 35.3% [1] - Basic earnings per share were HKD 0.06 [1] Operational Drivers - The increase in revenue was primarily driven by enhanced earnings from the group's hotel operations and supporting services, as well as property investment, management, and brokerage services [1]

Core Viewpoint - The company reported a decline in revenue across several business segments for the first half of 2025, with notable growth in the environmental sector, indicating a mixed performance overall [1][2][3] Group 1: Financial Performance - For the first half of 2025, the company achieved revenue of HKD 277 million and gross profit of HKD 64.85 million [1] - Rental income from investment properties decreased to HKD 16.9 million, down from HKD 22.2 million in the same period of 2024, primarily due to a reduction in tenants at the Weilu Yayuan shopping center [1] - Financial services revenue fell to HKD 43.1 million, a decrease of HKD 44.2 million compared to HKD 87.3 million in the first half of 2024, with net profit from this segment at HKD 18.5 million, down from HKD 30.6 million [1] Group 2: Business Segments - The environmental business segment reported revenue of HKD 212 million, a significant increase of HKD 75.1 million from HKD 137 million in the first half of 2024, driven by an expanded customer network in mainland China [2] - Revenue from the Latin America and Caribbean segment decreased to HKD 3.7 million from HKD 11.4 million in the same period of 2024, attributed to a reduction in approved citizenship application cases [2] Group 3: Strategic Developments - The company has been granted "Citizenship by Investment Program Approval" by the Grenada government, allowing it to utilize foreign investor funds for project development [3] - The successful implementation of the Grenada project marks a significant milestone for the company in diversifying its operations in the Caribbean and Latin America, with plans to explore further investment opportunities in these regions [3]