$XTALPI(02228.HK)$Jacobs Solutions(J.US)ingtai Holdings(HK2228)$ Jingtai Holdings(02228.HK) key catalysts and price impact in the next 1-2 weeks (1.28-2.10)

1. Confirmed events (predictable impact)

1. DoveTree super order $49M phase-II payment window (1.28-2.10, original 180-day payment term after Aug 5 signing, ~Jan 29 due)

- Direction: Positive (+)

- Intensity: Medium

- Note: Key milestone in HK$47B total order; payment receipt would validate order authenticity and cash flow improvement, potentially attracting institutional attention

2. Convertible bond follow-up (1.28-2.10, signed Jan 7, expected issuance soon)

- Direction: Neutral-positive (±)

- Intensity: Medium

- Note: HK$2.866B zero-coupon CB with ~HK$15 conversion price (~20% premium); minimal short-term dilution, long-term R&D/expansion funding

3. Institutional research & broker report updates (1.28-2.10, pre-Lunar New Year peak)

- Direction: Positive (+)

- Intensity: Mild

- Note: Guolian Minsheng initiated "Buy" on Jan 14; Shenwan Hongyuan maintains "Buy"; potential deep-dive reports before holiday may strengthen market recognition of AI pharma value realization

II. Potential catalysts (uncertain impact, need monitoring)

1. RTX-117 Phase I trial initiation (possible early Feb, planned Q1 launch)

- Direction: Strong positive (++)

- Intensity: High

- Note: China's first CMT rare disease Class-1 innovative drug; first clinical-stage project in Jingtai's AI-enabled pipeline; would validate AI+robotics R&D model and trigger milestone payments

2. Southbound/foreign capital flows (daily updates)

- Direction: Bidirectional

- Intensity: Medium

- Note: Southbound holds 41.62%; JPMorgan increased to 9.31% (Jan 12); sustained inflows would support price while outflows may pressure

3. AI+manufacturing policy implementation (1.28-2.10, eight-ministry action plan rollout)

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