MB-CLIT@EC2611A

Nomura Raises Tencent's Webnovel Group Rating to Buy, Sets Target Price at HKD 47

Yuewen Group Issues Profit Warning for 2025 Fiscal Year, Anticipating Loss of RMB 750 to 850 Million

Yuewen Group to Fully Embrace AI, Enhance IP Development Efficiency

Yuewen Group Releases 2025 Internal Letter, Clarifies Three Core Strategic Directions

Yuewen Manga Drama Assistant to Fully Integrate with Shengshu Technology's Multi-Modal Large Model Vidu

Yuewen Short Drama's 2025 Annual Report: Over 120 Short Dramas Produced and Collaborations with Multiple Institutions

Yuewen Group Proposes to Repurchase Up to 102 Million Shares

Yuewen Group Plans to Repurchase Up to HKD 1.2 Billion in Shares

Earning Boost Expected as Tencent's WebNovel Ventures into AI-Driven Manga

Ruanwen CEO Announces Business Upgrades and Launches Global Collectible Creation Plan

Yuewen Group Announces Major AI Technology Upgrade, Launching Three Applications

IQIYI Group Upgrades Creation Partnership Program to Layout Manhua Drama Ecosystem

READCOM GROUP COLLABORATES WITH RESORT WORLD SENTOSA TO LAUNCH 'THE ABNORMAL IMMORTAL BEING' IP ADVENTURE HOUSE

Rice Quantum issues 24,400 shares under the Share Option Scheme

Rupert Literature issued 5,246 shares under the share option plan

Yuewen Group Grants 4.5316 million RSUs

China Merchants Securities Releases Mid-Year Performance Analysis Report for Tencent Literature Group in 2025

Readcom Group Issued 265,500 Shares Under the Share Option Plan

Huatai Pacific Securities Sees Upbeat Prospects for Webnovel Group in H2

JPMorgan Raises Target Price for WebNovel Group to HKD39 and Upgrades Rating to 'Buy'

STARCOIN GROUP

ALLEGRO CULTURE

WALNUT CAP

MANY IDEA CLOUD

XINHUA LANDE

CENTURY GINWA

HING LEE (HK)

HEALTHYWAY INC

GUANZE MEDICAL

PPS INT'L

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Nomura has upgraded CHINA LIT's rating to "Buy," raising the target price from 33 yuan to 47 yuan. The firm holds an optimistic view on CHINA LIT's short drama and animation business prospects, believing it will benefit from favorable industry trends. CHINA LIT is one of the largest online literature platforms in mainland China, with a large user base and high-quality IP. Its online reading business continues to generate stable cash flow, and IP management has become a driving force for revenue growth

AASTOCKS

CHINA LIT

ChinaAMC CSI Animation Game ETF

AXA SPDB CSI Hugangshen Game and Culture Media ETF

Yinhua CSI Movies Theme ETF

Guotai CSI Movies Theme ETF

ChinaAMC CSI Cultural Entertainment Media ETF

Guotai CSI Animation Game ETF

Nomura upgraded the rating of CHINA LIT to "Buy" and raised the target price to 47 yuan

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160 HEALTH(02656) fell 30.73%, with a trading turnover 142.2 Million HKD, and a year-to-date rose 14.4%. QINGSONG HEALTH(02661) fell 17.37%, with a trading turnover 39.6 Million HKD, and a year-to-date rose 10.6%. 51WORLD(06651) fell 17.33%, with a trading turnover 49.2 Million HKD, and a year-to-date rose 34.4%.

Top Gainers & Losers

160 HEALTH

QINGSONG HEALTH

51WORLD

NUOBIKAN

GR LIFE STYLE

XUANZHUBIO-B

AXERA

GUOFUHEE

YUE YUEN IND

Top 10 HK Stock Losers (2.11)

Shares of China Literature fell 8.2% to HK$40, marking the largest one-day percentage drop since April 2025. The company anticipates a loss of 750-850 million yuan for 2025, compared to a 209 million yuan loss in 2024, primarily due to a goodwill impairment of approximately 1.8 billion yuan from its 2018 acquisition of New Classics Media. Year-to-date, the stock is up 22.8%, while the Hang Seng TECH Index has decreased by 0.1%.

Reuters

China Literature drops most in 10 months on wider loss outlook

Citi released a research report stating that CHINA LIT issued a profit warning, expecting last year's non-IFRS adjusted net profit to be between RMB 800 million and 900 million, lower than expected. New Classics Media may record a loss in the fiscal year 2025 due to limited content releases. Citi believes that CHINA LIT's earnings for 2025 will fall short of expectations mainly due to delays in content releases from New Classics Media, while non-New Classics Media businesses slightly missed expectations. The market is expected to lower CHINA LIT's earnings forecast, and the stock price may decline, maintaining a "Buy" rating for CHINA LIT with a target price of HKD 38

"Big Banks" Citigroup: China Literature's performance last year was below expectations, affected by limited content release from New Classics Media

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WuXi BIO expects a 46% increase in net profit last year, exceeding RMB 4.9 billion, with a revenue growth of 16%. CHINA LIT issued a profit warning, expecting a full-year loss to widen to RMB 750 million to 850 million, mainly due to goodwill impairment. Leading Intelligent's new stock debut performed well, with a maximum gain of RMB 74. SMIC's profit grew by 60.66% last quarter, with sales revenue of USD 2.48 billion. ZEEKR released the world's first general-purpose warehouse robot Gino 1. Baoshan International's January revenue decreased by 32.5% year-on-year

Tasty Money

WUXI BIO

Guotai CSI Bio-medicine ETF

Huaan Hang Seng Biotech ETF

Tianhong CNI BIOMEDICINE ETF

China Southern Hang Seng Biotech ETF(QDII)

Bosera Hang Seng Health Care ETF(QDII)

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

Minsheng Royal CSI Biotechnology Theme ETF

ChinaAMC SSE STAR Biology and Medicine ETF

[Daily Announcement] WUXI BIO (2269) expects a 46% increase in net profit last year, CHINA LIT (772) issues a profit warning, expecting an expanded annual loss

CHINA LIT issued a profit warning due to an impairment of goodwill of HKD 1.8 billion from New Classics Media, expecting a loss of HKD 750 million to HKD 850 million in 2025. New Classics Media's profit will decrease, with non-recurring profit dropping to HKD 800 million to HKD 900 million. In response to audience expectations for high-quality content, New Classics Media will adjust its production strategy, control the pace of creation, and enhance content quality. CHINA LIT hopes that New Classics Media will continue to leverage its core value and create long-term value. In 2018, CHINA LIT acquired New Classics Media for approximately HKD 15.5 billion

CHINA LIT (772) issues profit warning, New Classics Media faces another HKD 1.8 billion goodwill impairment

Today, CHINA LIT's stock price opened lower, with a decline of over 8%, currently reported at RMB 40.26, with a trading volume of 9.1039 million shares. The company issued a profit warning, expecting to record an IFRS loss of between RMB 750 million and RMB 850 million for the full year ending last year, which is an increase compared to the IFRS loss of RMB 209 million for the 2024 fiscal year, mainly due to the goodwill impairment of New Classics Media

China Literature once fell over 8%, with last year's IFRS loss expectation expanding to a maximum of 850 million RMB

China Literature Ltd. has issued a profit warning for the financial year ending December 31, 2025, expecting an IFRS loss of approximately RMB750 million to RMB850 million, a significant increase from the previous year's loss of RMB209 million. The larger loss is attributed to an estimated RMB1,800 million impairment of goodwill and a cautious production strategy affecting its subsidiary, New Classics Media. Audited results are expected on March 17, 2026.

China Literature Expects 2025 Loss of Up to RMB850 Million

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XUNCE(03317) rose 15.61%, with a trading turnover 53.3 Million HKD, and a year-to-date rose 38.6%. CHINA LIT(00772) rose 15.41%, with a trading turnover 2.2 Billion HKD, and a year-to-date rose 32.1%. KNOWLEDGE ATLAS(02513) rose 14.81%, with a trading turnover 1.1 Billion HKD, and a year-to-date rose 173.5%.

XUNCE

KNOWLEDGE ATLAS

VOBILE GROUP

ILUVATAR COREX

STAR SHINE HLDG

GEEKPLUS-W

BAO PHARMA-B

EDGE MEDICAL-B

ART GROUP HOLD

Top 10 HK Stock Gainers (2.10)

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On February 10th, the three major Hong Kong stock indices closed higher collectively, with the Hang Seng Index rising 0.58% to 27,183.15 points, indicating a mild recovery in market sentiment. The retail sector performed strongly, with Alibaba up 1.65% and JD.com up 1.95%; the internet sector showed mixed results, with Tencent down 1.61% due to concerns over capital expenditures, while Kuaishou benefited from AI commercialization, rising 1.59%; the catering sector experienced fluctuations downward, with Meituan down 2.47%. Investors are closely monitoring the upcoming retail sales data and changes in the external macro environment

- On February 10, the Hong Kong stock market saw all three major indices close higher, indicating a moderate recovery in market sentiment.  
- The Hang Seng Index rose 0.58% to 27,183.15, while the Technology Index increased 0.62%, although it remains below February's peak, suggesting limited upside potential.  
- Retail stocks gained on improved profit expectations, driven by cost-cutting strategies, with Alibaba and JD.com both showing positive performances despite overall market challenges from intensified competition in various sectors.

Market Heartbeat

JD-SW

BABA-W

TENCENT

KUAISHOU-W

BIDU-SW

HAIDILAO

MNSO

YUM CHINA

WANKA ONLINE

Alibaba

VanEck Retail ETF

SPDR S&P Retail ETF

KraneShares 2x Long JD Daily ETF

Hwabao CSI HK Equities Internet ETF

BABA 2x Long Daily ETF - GraniteShares

E Fund CSI HK Connect Internet ETF

JD.com

Harvest Hang Seng SCHK Technology ETF

KraneShares 2x Long BABA Daily ETF

Hong Kong Stock Market Closing | Hang Seng Index up 0.58%, retail sector strengthens, Alibaba up 1.65%, Tencent down 1.61%

CHINA LIT's stock price has been rising continuously due to the Seedance 2.0 triggering the AI video concept, with a peak increase of over 15% today. CEO Hou Xiaonan clearly stated in an internal letter during the Spring Festival that "evergreen content, IP + AI, and globalization" will be the core directions for 2026, laying out plans for new scenarios such as AI comic dramas. The AI comic drama market is expected to expand from less than 3 billion yuan in 2024 to about 20 billion yuan by the end of 2025. CHINA LIT, with its rich online literature IP, has become the biggest beneficiary, and institutions generally view its development opportunities in the wave of AI applications positively

CHINA LIT (772) "IP + AI Strategy" Second Growth Curve Has Been Activated? Embracing a New Track Worth Over 20 Billion

China Literature rose 15.31%; Huya Technology rose 2.32%, with a transaction volume of HKD 241 million; Qutoutiao rose 2.74%, with a transaction volume of HKD 98.08 million; Jihong Co., Ltd. fell 0.20%, with a transaction volume of HKD 20.39 million; Xinhua Wenhui rose 0.73%, with a market value of HKD 13.6 billion

HK Stock Movers Tracker

Hong Kong Stock Movement: CHINA LIT rises 15.31%, driven by dual benefits of AI strategy and emerging business formats, igniting market enthusiasm

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36Kr learned that the Hang Seng Index rose 0.54% during the midday break, and the Hang Seng Technology Index rose 0.84%; the consumer, pharmaceutical and biotechnology, and media sectors led the gains, with CHINA LIT rising over 15%, RemeGen rising over 6%, and POP MART rising over 4%; the household goods, consumer services, and retail sectors saw the largest declines, with SHANGHAI XNG falling over 17%, Beijing Jingkelong falling over 6%, and Shangmei Co., Ltd. falling over 2%; southbound funds had a net purchase of HKD 1.145 billion

36Kr

SHANGHAI XNG

REMEGEN

POP MART

Tianhong Hang Seng TECH ETF(QDII)

Hang Seng Index

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

RemeGen

Hang Seng TECH Index

HSTECH ETF

The Hang Seng Index rose 0.54% at midday, and the Hang Seng TECH Index rose 0.84%

Today’s Key News Recap

0112 | Dolphin Research Focus: 🐬 Stock 1, $CHINA LIT(00772.HK) jumped 10%+ today. The move was driven by a deep AIGC tie-up with Shengshu Tech.Its 'Yuewen Comic-Drama Assistant' fully integrated the multimodal LLM 'Vidu'. AI now spans the end-to-end creation workflow to cut costs, boost efficiency, and strengthen visual IP monetization, aligning with the industrialization of AI content.This should accelerate the conversion of online-literature IP into comic-dramas and short-form series, opening new growth avenues. Sentiment was also helped by a rebound in China and AI names on the day...

XPENG-W

XPeng

KUAISHOU-WR

XPEV's Aeroht files for IPO confidentially; AI theme takes off｜Daily News Recap

1205 | Dolphin Research Key Focus: 🐬 Stock 1, $BIDU-SW(09888.HK) According to reports, Kunlun Chip (Baidu's AI chip subsidiary) has initiated preparations for listing in Hong Kong, planning to submit the application in the first quarter of 2026 and complete the IPO in early 2027, with the latest valuation of approximately 21 billion RMB. Baidu is the largest shareholder. It has released products such as Kunlun Chip M100 and M300, with tens of thousands of cards deployed, serving as the core foundation of Baidu's AI computing power, and also providing computing power services to external enterprises. The news pushed Baidu's stock price to rise over 8% at one point...

BIDU ADR US

China

BIDU-SWR

Baidu

BABA-WR

YieldMax BABA Option Income Strategy ETF

Xinyuan Real Estate

Us 12 Mth Natural Gas

WB-SW

Weibo

Baidu HK SDR 10to1

Alibaba HK SDR 5to1

Baidu Spins Off Kunlunxin for IPO; Ele.me Completes Official Rebranding | Today's Important News Recap

Tencent

Conference Minutes

The following are the minutes of the FY25Q3 earnings call for $TENCENT(00700.HK) compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article &#34;Tencent: Not Playing Heartbeat with Meta, Just Wanting Steady Happiness.&#34; 1. Review of Core Financial Information 1. Capital Expenditure: Operating capital expenditure: RMB 12 billion, down 18% year-on-year, mainly due to changes in the supply chain. Non-operating capital expenditure: RMB 1 billion, down 59% year-on-year. 2. Free Cash Flow: RMB 58.5 billion, roughly flat compared to the same period last year (growth in operating cash flow was offset by other factors)...

Meta Platforms

TME-SW

Lotus Tech

Tencent Holdings Limited

TENCENT-R

Tencent Music

C3.AI

Lovesac

Tencent HK SDR 10to1

LOTUS TECHNOLOGY INC C/WTS 22/02/2029 (TO PUR COM)

Tencent (Minutes): Emphasizes AI, but Lowers Full-Year Capex Guidance

0818 | Dolphin Research Focus: 🐬 Macro/Industry 🐬 Individual Stocks 1. $CHINA LIT(00772.HK) Over the weekend, the animation update of 'A Record of a Mortal's Journey to Immortality' went viral, with the protagonist Han Li successfully forming a Nascent Soul. At 11 o'clock, fans flocked to Bilibili, and the IP rights belong to Yuewen Group (Qidian Chinese Network), directly boosting its stock price significantly during trading. In addition, Yuewen recently reached a 'National Creative Content Strategic Cooperation Plan' with Tencent's 'Honor of Kings', and the collaborative merchandise produced by Yuewen is already on pre-sale in both official stores. Coupled with the impressive financial report released by Yuewen last week...

"Han Laomo"'s success in forming a nascent soul boosts Yuewen; Nio's all-new ES8 to be released this week | Today's Important News Recap

MB-CLIT@EC2611A(19376.HK)

Nomura upgraded the rating of CHINA LIT to "Buy" and raised the target price to 47 yuan

Top 10 HK Stock Losers (2.11)

China Literature drops most in 10 months on wider loss outlook

"Big Banks" Citigroup: China Literature's performance last year was below expectations, affected by limited content release from New Classics Media

[Daily Announcement] WUXI BIO (2269) expects a 46% increase in net profit last year, CHINA LIT (772) issues a profit warning, expecting an expanded annual loss