Zhitong Hong Kong Stock Early Knowledge | Zheng Zhanjie: This year will propose a number of major strategic tasks, major policy measures, and major engineering projects

【Today's Headlines】

Zheng Zhanjie: A number of major strategic tasks, major policy measures, and major engineering projects will be proposed this year

Zheng Zhanjie, Director of the National Development and Reform Commission, stated at the economic theme press conference of the Third Session of the 14th National People's Congress that this year we will propose a number of major strategic tasks, major policy measures, and major engineering projects based on thorough investigation and research, and submit them according to procedures to next year's National Two Sessions.

On March 6, Pan Gongsheng, Governor of the People's Bank of China, stated at the economic theme press conference of the Third Session of the 14th National People's Congress that the People's Bank will further optimize the re-lending policy for technological innovation and technological transformation, further expand the scale of re-lending from the current 500 billion yuan to 800 billion to 1 trillion yuan; reduce the re-lending interest rate; expand the scope of re-lending support, significantly increasing policy coverage; maintain the intensity of fiscal interest subsidies, further reducing corporate financing costs; and optimize the re-lending usage process.

【Market Outlook】

U.S. stocks fell overnight, S&P index fell below the 200-day moving average

Overnight, the Dow Jones Industrial Average fell 427.51 points, a decrease of 0.99%, closing at 42,579.08 points; the Nasdaq fell 483.48 points, a decrease of 2.61%, closing at 18,069.26 points; the S&P 500 index fell 104.11 points, a decrease of 1.78%, closing at 5,738.52 points. The China Golden Dragon Index fell 0.77%. Tesla (TSLA.US) fell 5.61%, NVIDIA (NVDA.US) fell 5.74%, Alibaba (BABA.US) fell 0.77%. The Nasdaq index has fallen 10.4% from its closing record high on December 16, confirming that it has entered a correction zone. The S&P 500 index has fallen below the 200-day moving average for the first time in 2023. The uncertainty of the Trump trade war has dampened market sentiment. The Hang Seng Index ADR fell, closing at 24,078.75, down 290.96 points or 1.19% compared to the Hong Kong closing.

【Hot Topics Ahead】

Hong Kong Securities and Futures Commission's "Quarterly Report" concludes 2024 Hong Kong capital market strongly

According to Zhito Finance APP, the Hong Kong Securities and Futures Commission (SFC) released its "Quarterly Report," stating that the Hong Kong capital market benefited from improved investment sentiment, strong performance in the asset management industry, and further strengthening of market connections, thus concluding 2024 strongly. As the regulatory body of the Hong Kong capital market, the SFC continues to manage prudently to ensure its sustainable development. Benefiting from the economic support measures from the mainland, the trading volume of the Hong Kong stock market rebounded, and the SFC recorded a slight surplus of HKD 77 million in the last quarter.

Hong Kong Stock Exchange (00388): As of the end of February 2025, the market capitalization of the Hong Kong securities market is HKD 39.1 trillion, a year-on-year increase of 30%

According to Zhito Finance APP, the Hong Kong Stock Exchange (00388) released the market overview for February. The market capitalization of the Hong Kong securities market was HKD 39.1 trillion at the end of February 2025, an increase of 10% from HKD 35.4 trillion at the end of the previous month, and a 30% increase from HKD 30.1 trillion in the same period last year. The average daily trading amount in February 2025 was HKD 297.3 billion, an increase of 107% from HKD 143.8 billion in the previous month, and a 230% increase from HKD 90 billion in the same period last year Beijing's New Round of Subsidy Policy for the Elimination of Old Freight and Passenger Vehicles Released, with Maximum Subsidy of 170,000 Yuan

The Beijing Municipal Ecological Environment Bureau and seven other departments jointly issued the "Implementation Rules for Promoting the Scrapping and Updating of Old Freight Vehicles and Medium and Large Passenger Vehicles with National IV and Below Emission Standards," encouraging the scrapping and updating of old freight vehicles and medium and large passenger vehicles with National IV and below emission standards in the city. The introduction of the new policy not only promotes the implementation of the national "Two New" policy in the city but also injects new momentum into the continuous optimization of vehicle emission structure and reduction of motor vehicle emission pollution. It encourages eligible vehicle owners and operators to seize the subsidy opportunity and scrap old freight and passenger vehicles for new energy vehicles as soon as possible if they have scrapping or updating needs. The subsidy period starts on January 1, 2025, and vehicle owners must complete the vehicle scrapping and updating procedures and submit subsidy applications by December 1, 2025. If there is a need to modify the declaration information, it must be completed by December 10, 2025.

Hutchison China MediTech Limited (00013): Completion of Patient Enrollment for Phase II Registration Study of HMPL-453 (fanregratinib) for the Treatment of Intrahepatic Cholangiocarcinoma in China

According to Zhitong Finance APP, Hutchison China MediTech Limited (00013) announced that the patient enrollment for the Phase II clinical trial of HMPL-453 (fanregratinib) for the treatment of intrahepatic cholangiocarcinoma patients with fibroblast growth factor receptor (FGFR) 2 fusion/rearrangement has been completed.

Alibaba Tongyi Qianwen Large Model Tops Global Open Source Community Rankings

The world's largest AI open-source community, Hugging Face, updated its large model rankings, and Alibaba's Tongyi Qianwen inference model QwQ-32B, which was just released and open-sourced early this morning, successfully topped the list. It is understood that QwQ-32B has achieved a qualitative leap in mathematics, coding, and general capabilities, with overall performance comparable to DeepSeek-R1, and has breakthrough capabilities that allow high-performance inference models to be locally deployed on consumer-grade graphics cards, significantly reducing the application cost of the model.

"Ne Zha" Global Box Office Exceeds 14.6 Billion Yuan

According to Lighthouse Professional Edition, as of March 6, 2025, at 19:10, the global box office of "Ne Zha" has exceeded 14.6 billion yuan.

Tencent Hunyuan Launches and Open Sources New Image-to-Video Model

Tencent Hunyuan has launched and open-sourced a new image-to-video model. In just three steps, users can generate a 5-second short video from an image. Currently, the Tencent Hunyuan image-to-video model has been launched on Tencent Cloud, and enterprises and developers can apply for API access through the official website. Tencent Hunyuan has also open-sourced its model, including weights, inference code, and LoRA training code, which developers can download from mainstream communities such as GitHub and Hugging Face.

China Biologic Products Holdings (01177) Signs Exclusive Cooperation Agreement with Qingpu Biotech for QP001

According to Zhitong Finance APP, China Biologic Products Holdings (01177) announced that the group has reached an exclusive cooperation agreement with Nanjing Qingpu Biotechnology Co., Ltd. (Qingpu Biotech) for its research and development of the national Class 2 new drug QP001 in mainland China. The group expects that the product will be approved for market launch by the China National Medical Products Administration in the near future MTR Corporation (00066) Announces 2024 Results: Net Profit Attributable to Shareholders of HKD 15.772 Billion, Up 102.6% Year-on-Year

According to Zhitong Finance APP, MTR Corporation (00066) announced its 2024 results, with total revenue of HKD 60.011 billion, an increase of 5.3% year-on-year; operating profit from recurring businesses of HKD 7.21 billion, up 68.4% year-on-year; net profit attributable to shareholders of HKD 15.772 billion, up 102.6% year-on-year; earnings per share of HKD 2.54, and a proposed final ordinary dividend of HKD 0.89 per share.

JD Logistics (02618): Deppon Logistics (603056.SH) Reports Net Profit Attributable to Parent of Approximately RMB 861 Million for 2024, Up 15.41% Year-on-Year

According to Zhitong Finance APP, JD Logistics (02618) announced the performance report of Deppon Logistics (603056.SH) for 2024, with revenue of approximately RMB 40.379 billion, an increase of 11.3% year-on-year; net profit attributable to Deppon shareholders of approximately RMB 861 million, up 15.41% year-on-year; basic earnings per share of RMB 0.85.

Genting Hong Kong-B (01952): First AI-Driven Self-Developed mRNA Tumor Therapeutic Vaccine Completes First Patient Administration

On March 6, Genting Hong Kong announced that its self-developed first novel mRNA personalized tumor therapeutic vaccine EVM16 has successfully completed the first patient administration at Peking University Cancer Hospital, indicating that Genting Hong Kong's proprietary intellectual property tumor neoantigen artificial intelligence algorithm system and clinically validated mRNA technology platform have successfully entered the human trial phase. EVM16 is a novel mRNA personalized tumor therapeutic vaccine developed by Genting Hong Kong, driven by AI algorithms to identify tumor neoantigens. Based on the unique tumor cell mutations of each patient, the self-developed and self-iterating EVER-NEO-1 "MiaoSuan" tumor neoantigen AI algorithm system identifies tumor neoantigens with high immunogenicity and designs mRNA therapeutic vaccines encoding dozens of tumor neoantigens.

JD Group-SW (09618) Reports Strong 2024 Results with Coordinated Growth Across Multiple Segments; Net Profit Attributable to Shareholders Increases 71.14% to RMB 41.359 Billion

According to Zhitong Finance APP, JD Group-SW (09618) announced its fourth-quarter results for 2024, with revenue of RMB 346.986 billion, an increase of 13.37% year-on-year. Operating profit was RMB 8.491 billion, up 3.19 times year-on-year; net profit attributable to ordinary shareholders of the company was RMB 9.854 billion, an increase of approximately 1.91 times year-on-year; basic earnings per share of RMB 3.39.

JD Group-SW (09618) announced that the company will distribute a dividend of USD 0.50 per share for the year ending December 31, 2024, on April 23, 2025. JD Group has fully utilized the repurchase amount authorized under its USD 3 billion stock repurchase plan announced in March 2024. It may repurchase up to USD 5 billion worth of stock within the next 36 months JD Logistics (02618) Releases Annual Performance with Shareholder Profit of RMB 6.198 Billion, a Significant Increase of 905.78% Year-on-Year, Both Profit and Profit Margin Reach the Best Levels Since Listing

According to Zhitong Finance APP, JD Logistics (02618) released its annual performance for the year ended December 31, 2024, achieving revenue of RMB 182.838 billion, an increase of 9.73% year-on-year; shareholder profit of RMB 6.198 billion, an increase of 905.78% year-on-year; annual non-International Financial Reporting Standards EBITDA of RMB 20.343 billion, an increase of 39.3% year-on-year; basic earnings per share of RMB 1.

【Stock Highlights】

JD Health (06618) Reports Shareholder Profit of Approximately RMB 4.162 Billion for 2024, a Year-on-Year Growth of 94.31%, Significant Results in Business Innovation

According to Zhitong Finance APP, JD Health (06618) announced its 2024 performance, with revenue of approximately RMB 58.16 billion, a year-on-year increase of 8.6%; gross profit of approximately RMB 13.3086 billion, a year-on-year increase of 12.2%; profit attributable to owners of the company of approximately RMB 4.162 billion, a year-on-year increase of 94.31%; earnings per share of RMB 1.32. As of December 31, 2024, the number of annual active users reached 183.6 million, with an average daily online consultation volume exceeding 490,000 throughout 2024.

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