SGCTGDF@EC2609B

TRANSTHERA-B

ASIA STRAT TECH

SUMMI

MANY IDEA CLOUD

ZHONGMIAO

SKYMISSION GP

NICHE-TECH SEMI

KFM KINGDOM

INCON

CHINA CHENGTONG

601888

600009

01880

CTG DUTY-FREE's stock price experienced a rare limit down on February 24, continuing until the close, with the Hong Kong stock market falling 10.51%. The stock has plunged for three consecutive days in the Hong Kong market, with a decline of over 22%. The company's securities department stated that the stock price is affected by multiple factors and confirmed the loss of some operating rights at Shanghai Airport, with relevant announcements having been made. As for the Spring Festival sales data, only daily data from certain regions is currently available, which has not yet reached the announcement standard

Tasty Money

CTG DUTY-FREE

CTG DUTY-FREE (1880) loses operating rights in Shanghai, stock price continues to plummet for 3 days

02442

02629

06600

01057

02432

06682

02469

01709

06651

EASY SMART GP(02442) fell 21.83%, with a trading turnover 10.8 Million HKD, and a year-to-date fell 51.8%. MIRXES-B(02629) fell 21.67%, with a trading turnover 240.1 Million HKD, and a year-to-date fell 59.1%. ONEROBOTICS(06600) fell 11.62%, with a trading turnover 123.8 Million HKD, and a year-to-date rose 77.3%.

Top Gainers & Losers

EASY SMART GP

MIRXES-B

ONEROBOTICS

ZHEJIANG SHIBAO

DOBOT

PHANCY

FENBI

DL HOLDINGS GP

51WORLD

Top 10 HK Stock Losers (2.24)

02513

03986

02338

01072

06809

02050

01177

06181

03692

KNOWLEDGE ATLAS(02513) rose 12.14%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 440.4%. GIGADEVICE(03986) rose 11.91%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 166.8%. CTG DUTY-FREE(01880) fell 10.51%, with a trading turnover 837.2 Million HKD, and a year-to-date rose 4.2%. SANHUA(02050) fell 6.62%, with a trading turnover 947.8 Million HKD, and a year-to-date fell 6.6%.

KNOWLEDGE ATLAS

GIGADEVICE

WEICHAI POWER

DONGFANG ELEC

MONTAGE TECH

SANHUA

SINO BIOPHARM

LAOPU GOLD

HANSOH PHARMA

Top 5 HK Stock Gainers/Losers (>100B) (2.24)

PSKY

01810

81810

HXXD

XIACY

CRCL

NFLX

ASML

0224 | Dolphin Research Focus: 🐬 Macro/Industry. Trump signaled a preference for a diplomatic deal over military action on the Iran issue. Geopolitical tensions cooled quickly, and the Geneva talks on Feb 26 remain on schedule.Gold's safe-haven premium is fading. Middle East risks still imply potential conflict. U.S. monetary policy remains the core driver of gold.AI: Leading player Anthropic will host an online livestream. Scheduled at 9:30 a.m. ET on Tue (10:30 p.m. Beijing time)...

CTG Duty Free hits limit-down on a negative surprise; Lei Jun sets '15-5' hardcore chip push | Daily News Recap---

CTG DUTY-FREE's A-shares fell to the limit due to losing part of the operational rights at SIA, with the stock price affected by various factors. The company confirmed that it has issued an announcement, stating that the sales data for the Spring Festival has not yet met the announcement standards. H-shares also experienced three consecutive declines, closing at HKD 82.25, a drop of 10.45%

AASTOCKS

CTG DUTY-FREE A shares hit the limit down, confirming the loss of part of the operating rights of SIA

02706

01872

00100

02427

06090

02582

KNOWLEDGE ATLAS(02513) fell 22.76%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 381.9%. HAIZHI TECH GP(02706) fell 21.61%, with a trading turnover 933.3 Million HKD, and a year-to-date rose 346.4%. EASY SMART GP(02442) fell 17.81%, with a trading turnover 8.4 Million HKD, and a year-to-date fell 38.3%.

HAIZHI TECH GP

GUAN CHAO HLDGS

MINIMAX-WP

GUANZE MEDICAL

BUTONG GROUP

GUOFUHEE

Top 10 HK Stock Losers (2.23)

06869

01772

02259

01208

01818

YOFC(06869) rose 14.43%, with a trading turnover 1.3 Billion HKD, and a year-to-date rose 147%. GANFENGLITHIUM(01772) rose 8.48%, with a trading turnover 617.7 Million HKD, and a year-to-date rose 28%. KNOWLEDGE ATLAS(02513) fell 22.76%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 381.9%. MINIMAX-WP(00100) fell 13.35%, with a trading turnover 2.2 Billion HKD, and a year-to-date rose 409.4%.

YOFC

GANFENGLITHIUM

ZIJIN GOLD INTL

ZHAOJIN MINING

Top 5 HK Stock Gainers/Losers (>100B) (2.23)

00390

06160

06618

09888

01347

01698

KNOWLEDGE ATLAS(02513) rose 42.72%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 523.9%. MINIMAX-WP(00100) rose 14.52%, with a trading turnover 3.5 Billion HKD, and a year-to-date rose 487.9%. JD HEALTH(06618) fell 6.27%, with a trading turnover 341.2 Million HKD, and a year-to-date rose 2.4%. BIDU-SW(09888) fell 6.25%, with a trading turnover 2.5 Billion HKD, and a year-to-date fell 1.9%.

- The Hang Seng Index fell by 1.1%, with a year-to-date increase of 3.1%, while the Hang Seng Tech Index decreased by 2.91% and is down 5.5% year-to-date.  
- Notable stocks include Zhizhi (02513), which rose by 42.72% with a turnover of 3.24 billion HKD, and MINIMAX-WP (00100), which gained 14.52% with a turnover of 3.53 billion HKD.  
- Conversely, JD Health (06618) and Baidu-SW (09888) declined by 6.27% and 6.25%, respectively, with year-to-date performances of 2.4% and -1.9%.

CHINA RAILWAY

BEONE MEDICINES

JD HEALTH

BIDU-SW

HUA HONG SEMI

TME-SW

Top 5 HK Stock Gainers/Losers (>100B) (2.20)

00992

02899

02378

03993

KNOWLEDGE ATLAS(02513) rose 20.65%, with a trading turnover 2.4 Billion HKD, and a year-to-date rose 317.4%. MINIMAX-WP(00100) rose 15.65%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 312.1%. TME-SW(01698) fell 9.23%, with a trading turnover 247.1 Million HKD, and a year-to-date fell 14.5%. ZIJIN MINING(02899) fell 7.64%, with a trading turnover 4.1 Billion HKD, and a year-to-date rose 16.6%.

LENOVO GROUP

ZIJIN MINING

CMOC

Top 5 HK Stock Gainers/Losers (>100B) (2.13)

ATAT

01179

BEDZ

AWAY

Citigroup's research report indicates that strong tourism demand is expected during the Lunar New Year holiday, particularly with positive impacts on CTG DUTY-FREE, Atour, and HWORLD-S. Passenger traffic during the Spring Festival travel season is expected to grow by 5.3%, and Atour is reiterated as the preferred stock in the consumer sector. Demand for outbound travel will be differentiated, while domestic travel momentum looks promising and is expected to continue during the holiday period

Atour

HWORLD-S

Invesco Leisure & ENT ETF

AdvisorShares Hotel ETF

ETFMG Travel Tech ETF

Citigroup expects strong domestic tourism demand during the Lunar New Year holiday, which is beneficial for CTG DUTY-FREE, Atour, and HWORLD-S

01093

01801

09992

09980

03690

KNOWLEDGE ATLAS(02513) rose 14.81%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 173.5%. DONGFANG ELEC(01072) rose 7.11%, with a trading turnover 810.9 Million HKD, and a year-to-date rose 23%. ZHAOJIN MINING(01818) fell 5.83%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 6.1%. GIGADEVICE(03986) fell 3.82%, with a trading turnover 252.3 Million HKD, and a year-to-date rose 86.4%.

- The Hang Seng Index increased by 0.58%, with a year-to-date rise of 6.1%.  
- The Hang Seng Tech Index rose 0.62%, but has declined 1.2% for the year.  
- Stocks like Zhihua (02513) surged by 14.81% and recorded a significant yearly gain of 173.5%, while stocks like Zhaojin Mining (01818) dropped by 5.83% despite a yearly increase of 6.1%.

CSPC PHARMA

INNOVENT BIO

POP MART

EASTROC

MEITUAN

Top 5 HK Stock Gainers/Losers (>100B) (2.10)

06862

EATZ

09987

YUMC

LKNCY

CICC released a research report, predicting that leisure travel demand will be released during the Spring Festival in 2026, with a particular focus on high-quality companies such as Luckin Coffee, Atour, and CTG DUTY-FREE. The report points out that personnel flow during the Spring Festival travel season is expected to grow steadily, and hotel and dining consumption is likely to rebound. It is recommended to pay attention to the performance of related brands, including HAIDILAO and YUM China

HAIDILAO

AdvisorShares Restaurant ETF

YUM CHINA

YUM China

Luckin Coffee

In "Major Banks," China International Capital Corporation (CICC): Leisure and tourism demand is being released, optimistic about Luckin Coffee, Atour, and CTG DUTY-FREE

00700

09988

09618

01024

The main indices of the Hong Kong stock market strengthened across the board, with the Hang Seng Index, Hang Seng TECH Index, and the National Enterprises Index all recording gains. The internet content and retail sectors performed positively, with capital flows clearly concentrating on leading companies. POP MART showed significant gains during the session, while Alibaba, Kuaishou, and JD were actively traded. Under structural differentiation, some popular stocks experienced sharp declines, and investors are paying attention to short-term sector rotations and macro changes

- The Hong Kong stock market showed overall strength, with the Hang Seng Index rising 1.07% to 27,316.62 points, but still below recent highs.  
- Key sectors like internet content saw notable gains, with Tencent Holdings up 0.62%, while retail stocks also performed well, including Alibaba, which rose 2.22%.  
- However, several individual stocks faced declines, such as Zhiyun (17.85%) and Jiu Fang Zhi Tou (11.55%), indicating a cautious investor sentiment amidst fluctuating market conditions.

Market Heartbeat

TENCENT

BABA-W

JD-SW

KUAISHOU-W

CHOW TAI FOOK

JF SMARTINVEST

VOBILE GROUP

UNISOUND

CHINA LIT

Hang Seng TECH Index

Hang Seng Index

JD LOGISTICS

ALI HEALTH

Hong Kong stocks intraday | All three major indices strengthened, Hang Seng TECH up 1.46%, POP MART leading in intraday gains

00728

00941

00006

KNOWLEDGE ATLAS(02513) rose 36.22%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 138.2%. MINIMAX-WP(00100) rose 11.71%, with a trading turnover 796.5 Million HKD, and a year-to-date rose 212.1%. EASTROC(09980) fell 3.87%, with a trading turnover 206.3 Million HKD, and a year-to-date rose 4%. CHINA TELECOM(00728) fell 2.96%, with a trading turnover 587.4 Million HKD, and a year-to-date fell 8.7%.

- The Hang Seng Index increased by 1.76%, with a year-to-date gain of 5.4%, while the Hang Seng Tech Index rose 1.34%, but has seen a 1.8% decline this year.  
- Zhipu (02513) surged by 36.22% with a trading volume of 1.16 billion HKD, marking a year-to-date increase of 138.2%.  
- In contrast, Dongpeng Beverage (09980) dropped by 3.87% with a trading volume of 210 million HKD, showing a 4% rise for the year, while China Telecom (00728) fell 2.96%, impacting its year-to-date loss of 8.7%.

CHINA TELECOM

CHINA MOBILE

POWER ASSETS

Top 5 HK Stock Gainers/Losers (>100B) (2.9)

Today’s Key News Recap

Warner Bros. Discovery

Paramount Skydance Corporation - CL B

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

Circle

Netflix

0120 | Dolphin Research Focus: 🐬 Macro/Industries 1) On Jan 20, the State Council Information Office held a press briefing on implementing the Central Economic Work Conference. The goal is to ensure a solid start to the 15th Five‑Year Plan (2026–2030).The NDRC will draft the 2026–2030 implementation plan to expand domestic demand, working on both supply and demand. Measures include consumer goods trade‑in programs backed by RMB 62.5bn ultra‑long special Gov. bonds, a national M&amp;A fund, and efforts to curb cut‑throat 'involution' competition, aiming to build a domestic‑demand‑led growth model.2) Today, the Ministry of Finance issued five policy documents (...). The release was consolidated.

Allianzim US Large Cap Buffer10 Mar ETF

POP MART HK SDR 20to1

AppLovin

Discover Financial

Policy blitz to spur consumption, boost domestic demand; APP hit by another short attack | Daily News Recap

SGCTGDF@EC2609B(26277.HK)

CTG DUTY-FREE (1880) loses operating rights in Shanghai, stock price continues to plummet for 3 days

Top 10 HK Stock Losers (2.24)

Top 5 HK Stock Gainers/Losers (>100B) (2.24)

CTG Duty Free hits limit-down on a negative surprise; Lei Jun sets '15-5' hardcore chip push | Daily News Recap---

CTG DUTY-FREE A shares hit the limit down, confirming the loss of part of the operating rights of SIA