Market Overview - The Hong Kong stock market showed a slight recovery with the Hang Seng Index up by 0.54% to 27,172.87 points, the Hang Seng Tech Index up by 0.84% to 5,463.17 points, and the National Enterprises Index up by 0.78% to 9,239.54 points, while the Red Chip Index fell by 0.1% to 4,391.08 points [1] Company Dynamics - Pop Mart (09992.HK) expects global sales of over 400 million units across all IP categories by 2025, with THE MONSTERS category alone projected to exceed 100 million units [2] - Youjia Innovation (02431.HK) has secured a contract with a leading domestic automotive brand to provide advanced driving assistance controllers and driver monitoring systems for several key models [2] - Ruifeng New Energy (00527.HK) signed an investment framework agreement to build the largest inference computing cluster park in North China, with a total investment of approximately RMB 24 billion [2] - Xian Dao Intelligent (00470.HK) set its H-share offering price at HKD 45.80 per share, with the adjustment rights fully exercised [3] - Hong Kong Telecom (06823.HK) reported a 5% year-on-year increase in total revenue to HKD 36.553 billion for 2025, with EBITDA rising 4% to HKD 14.234 billion, and attributable profit increasing 4% to HKD 5.286 billion, driven by stable operations and effective cost control [3] - China Nuclear International (02302.HK) issued a positive profit alert, expecting revenue for 2025 to exceed approximately HKD 2.46 billion, with gross profit expected to be at least HKD 260 million, primarily due to increased uranium trading volumes [3][6] - Mingyuan Cloud (00909.HK) anticipates a net profit of approximately HKD 26.9 million to HKD 32.8 million for 2025, representing a turnaround and growth of about 114% to 117%, attributed to improved operational efficiency [3] - Yingda Real Estate (00432.HK) reported a net loss of HKD 69 million for 2025, a 70% reduction year-on-year [4] - China Oriental Education (00667.HK) expects a 46% to 51% increase in net profit for 2025 [5] - Carrot (02549.HK) issued a profit warning, projecting a 25% to 35% decrease in profit for 2025 [7] - Xiaomi Group (01810.HK) repurchased 1.5 million shares for HKD 52.7268 million at prices between HKD 35.04 and HKD 35.24 [8] - Geely Automobile (00175.HK) repurchased 1.408 million shares for HKD 23.4587 million at prices between HKD 16.46 and HKD 16.81 [8] Institutional Insights - GF Securities noted that the Hang Seng Index has an 82% probability of rising in the three trading days before the Spring Festival, with no significant calendar effects post-holiday, indicating a potential "passive follow" increase due to stronger correlation with A-shares [9] - Everbright Securities highlighted a market environment of "moderate fundamental recovery and synchronized liquidity," recommending a "growth + value" strategy focusing on AI, non-ferrous metals, chemicals, and insurance [10] - Dongfang Caifu Securities pointed out that Hong Kong stocks are at historical low valuations (Hang Seng Index PE at only 12 times), making southbound capital attractive for bottom-fishing, with short-term sentiment boosted by this capital [10]

Market Overview - The Hong Kong stock market opened higher on February 10, with the Hang Seng Index rising by 0.65% to 27,202.96 points, the Hang Seng Tech Index up by 0.82% to 5,461.96 points, and the National Enterprises Index increasing by 0.64% to 9,226.56 points [1] - Major technology stocks saw gains, with Alibaba up 1.14%, Tencent Holdings up 0.54%, JD Group up 1.2%, Xiaomi up 0.85%, NetEase up 2.35%, and Kuaishou up 1.01% [1] - The new consumption concept stocks showed mixed results, with Pop Mart rising over 2% and Weilon falling over 2% [1] Corporate News - Pop Mart (09992.HK) expects global sales of all IP products to exceed 400 million units by 2025, with THE MONSTERS product line projected to sell over 100 million units [2] - Youjia Innovation (02431.HK) has secured a contract with a leading domestic automotive brand to provide several key products, including the iPilot 4 Plus driving controller and driver monitoring systems [2] - Ruifeng New Energy (00527.HK) signed an investment framework agreement to build the largest inference computing cluster park in North China, with a total investment of approximately RMB 240 billion [2] Earnings Forecasts - Hong Kong Telecom (06823.HK) reported a 5% increase in total revenue to HKD 36.553 billion for 2025, with EBITDA growing by 4% to HKD 14.234 billion and net profit attributable to shareholders increasing by 4% to HKD 5.286 billion [4] - China Nuclear International (02302.HK) anticipates revenue for 2025 to exceed HKD 2.46 billion, with gross profit expected to reach at least HKD 260 million, driven by increased uranium trading volumes [4][6] - Mingyuan Cloud (00909.HK) expects a net profit of approximately HKD 26.9 million to HKD 32.8 million for 2025, representing a growth of about 114% to 117% [4] - China Oriental Education (00667.HK) forecasts a 46% to 51% increase in net profit for 2025 [5] Market Dynamics - Several companies are actively repurchasing shares to boost market confidence, including Xiaomi Group-W (01810.HK), which repurchased 1.5 million shares for HKD 52.7268 million, and Geely Automobile (00175.HK), which repurchased 1.408 million shares for HKD 23.4587 million [8] - China Smart Energy (01004.HK) announced a share consolidation effective February 10, pending approval from the Stock Exchange [8] Institutional Insights - Galaxy Securities noted a significant "Spring Festival effect" in the Hong Kong market, with optimistic market sentiment and early capital positioning [10] - Dongwu Securities indicated that while short-term challenges remain, the market should be monitored for overseas risks and domestic AI catalysts [10] - Bank of China International believes that after the recent negative factors have subsided, market sentiment is at a low point, with potential rebounds in the AI multi-modal industry chain [10]

年度预期溢利减少主要是由于以下因素所致：(1)美国关税影响：美国于2025年对自中国进口的钢铁和 铝制品加徵额外关税，导致集团出口至美国的主要产品线销售成本显著上升。因此，该地区业务的毛利 率较上一年度有所下降。集团已采取措施以减轻此等影响，包括选择性提价及调整运营策略。(2)美元 贬值：2025年美元(「美元」)兑人民币贬值，导致集团以美元计价的收入及应收账款兑换为人民币时产 生汇兑亏损。尽管此情况进一步压缩了集团的利润率，集团于该年度仍实现收入正增长。 格隆汇2月9日丨卡罗特(02549.HK)公布，相较于截至2024年12月31日止年度，集团截至2025年12月31日 止年度的收入预期录得约3%至5%的增长，而年度的溢利则预期减少约25%至35%。 ...

卡罗特(02549)公布，该集团预期2025年实现收入同比增长约约3%至5%，溢利同比减少约25%至35%。 公告称，本年度预期溢利减少主要是由于以下因素所致：美国关税影响：美国于2025年对自中国进口的 钢铁和铝制品加徵额外关税，导致集团出口至美国的主要产品线销售成本显著上升。因此，该地区业务 的毛利率较上一年度有所下降。集团已采取措施以减轻此等影响，包括选择性提价及调整运营策略。美 元贬值：2025年美元兑人民币贬值，导致集团以美元计价的收入及应收账款兑换为人民币时产生汇兑亏 损。尽管此情况进一步压缩了集团的利润率，集团于本年度仍实现收入正增长。 ...

公告称，本年度预期溢利减少主要是由于以下因素所致：美国关税影响：美国于2025年对自中国进口的 钢铁和铝制品加徵额外关税，导致集团出口至美国的主要产品线销售成本显著上升。因此，该地区业务 的毛利率较上一年度有所下降。集团已采取措施以减轻此等影响，包括选择性提价及调整运营策略。美 元贬值：2025年美元兑人民币贬值，导致集团以美元计价的收入及应收账款兑换为人民币时产生汇兑亏 损。尽管此情况进一步压缩了集团的利润率，集团于本年度仍实现收入正增长。 智通财经APP讯，卡罗特(02549)公布，该集团预期2025年实现收入同比增长约约3%至5%，溢利同比减 少约25%至35%。 ...

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的內 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 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 CAROTE LTD 卡 羅 特（ 商 業 ）有 限 公 司 （於 開 曼 群 島 註 冊 成 立 的 獲 豁 免 有 限 公 司） （股 份 代 號：2549） 盈利預警 本 公 告 乃 由 卡 羅 特（商 業）有 限 公 司（「本公司」，連 同 其 附 屬 公 司，統 稱「本 集 團」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09 條 以 及 證 券 及 期 貨 條 例（香 港 法 例 第571章）第XIVA部項下之內幕消息條 文（定 義 見 上 市 規 則）刊 發。 本 公 司 董 事 會（「董事會」）謹 此 知 會 本 公 司 股 東 及 潛 在 投 資 者，基 於 董 事 會對本集團截至2025年12月31日 止 年 度（「本年度」）未 經 審 核 綜 合 管 理 賬 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 卡羅特（商業）有限公司 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 | 根據《主板上市規則》第13.32D(1)條或第19A.28D(1)條 / 《GEM上市規則》第17.37D(1)條或第25.21D(1)條，我們在此確認，就上述所列股份類別而言，截至本月底: | | | --- | --- | | 已符合適用的公眾持股量要求（見下方） | ✔ | | 未符合適用的公眾持股量要求（見下方） | | | 根據《主板上市規則》第13.32B條或第19A.28B條 / 《GEM上市規則》第17.37B條或第25.21B條（視情況而定）所載的有關股份類別的最低公眾持股量要求為： | | | 適用的公眾持股量門檻 初始指定門檻 - 上市股份所屬類別的已發行股份總數(不包括庫存股份)的25% | | | 額外信息 上述的公眾持股量是根據公開可得資料及就本公司所知予以確認。 | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 卡羅特（商業）有限公司 呈交日期: 2026年1月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02549 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.0005 | USD | | 1,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.0005 | USD | | 1,000,000 | 本月底法 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 卡羅特（商業）有限公司 呈交日期: 2025年12月3日 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02549 | 說明 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | 已發行股份總數 | | | 上月底結存 | | | 550,801,100 | 4,201,500 | | 555,002,600 | | 增加 / 減少 (-) | | | 0 | | 0 | | | 本月底結存 | | | 550,801,100 | 4,201,500 | | 555,002,600 | 第 2 頁 共 10 頁 v 1.1.1 I. 法 ...

Core Viewpoint - Shandong Kakarote International Trade Co., Ltd. has been established with a registered capital of 3 million RMB, focusing on various sectors including import-export, wind power systems, and mechanical equipment development [1] Company Overview - The company is legally represented by Wang Kuan [1] - The registered capital is 3 million RMB [1] Business Scope - The business scope includes general projects such as: - Import and export of goods [1] - Research and development related to wind power plants [1] - Manufacturing and sales of general and specialized mechanical equipment [1] - Sales and repair of electrical equipment [1] - Manufacturing and sales of environmental protection equipment [1] - Technical services, development, consulting, and technology transfer [1] - Sales of automotive products and components [1] - New material technology promotion services [1] - Rental of mechanical equipment [1]