JPJDCOM@EC2609A

JD Launches 'Hundred Billion Supermarket' Channel and Increases Subsidies

JD Airlines Launches Three All-Cargo Routes in Hainan

JD Waimai's First Anniversary: Quality Becomes Industry Standard, Market Share Exceeds 15%

JD and DHL Sign Memorandum of Understanding to Support German Brands Expanding into Chinese Market

JD-SW to release FY2025 Q4 earnings on March 5 Pre-Market (BJT), forecast revenue HKD 399.2 B

JD Group applies for JDA JD Insurance Advisor series trademark

JD Robot and AI Related Products Experience Significant Sales and Traffic Growth During Spring Festival

Citibank Adjusts JD's Earnings Forecast and Downgrades Target Price

JD Robots See Surge in Searches and Orders During Chinese New Year Gala

JD Announces 1.3 Billion Yuan Investment in Employee Benefits and Five-Year Logistics Supply Chain Plan for Spring Festival

Glaxis Capital Management LLC Invests in JD.com

JD's Paris Warehouse Theft Case Solved, Majority of Stolen Goods Recovered

JD Announces $22 Billion Investment in 1.5 Million 'Brother's Home' Over the Next Five Years

JD.com and 11Street Establish Strategic Cooperation to Launch Reverse Cross-border E-commerce

JD Air Launches International Cargo Route from Chongqing to South Asia

JD Launches 'JD AI Pay' Smart Payment Solution

JD Launches JoyExpress Delivery Service in Europe

JD Releases Industry-Purchasing Integration Value White Paper to Promote Digitalization of Supply Chain

JD Instant Medication Delivery Business Surpasses Expectations

JD Integrates Kappa Supermarket, Introduces 100 Own-Brand Products

TENCENT

INVESCO QQQ

BABA-W

HSBC HOLDINGS

ICBC

CATL

PETROCHINA

CHINA MOBILE

09626

02618

09988

06618

09618

On the macro level, China's Two Sessions discuss the government work report and the 14th Five-Year Plan, while the U.S. February non-farm payrolls and the Federal Reserve's Beige Book will reveal the true state of employment. Geopolitically, the U.S. and Israel launch an attack on Iran, with Iran claiming it will initiate the most intense offensive, and new rounds of negotiations are taking place among Russia, Ukraine, and the U.S. On the industrial front, the Electronic Spring Festival kicks off at the 2026 Mobile World Congress, Alibaba Qianwen releases AI glasses, and Apple will hold a new product launch event next week. In terms of earnings reports, MiniMax, JD.com, Bilibili, Broadcom, Credo, and others will announce their performance results intensively

- The week of March 2nd to March 8th features major macroeconomic events like China's National People's Congress sessions and the U.S. non-farm payroll report, which may impact interest rate forecasts.  
- Additionally, geopolitical tensions rise with Iran's military actions against Israel and potential peace talks between Ukraine and Russia.  
- In tech, the Mobile World Congress will showcase innovative AI and communication technologies, with key product launches from companies like Alibaba and Apple.

Wallstreetcn

BILIBILI-W

JD LOGISTICS

MINIMAX-WP

JD.com

JD HEALTH

JD-SW

Alibaba

Bilibili

KraneShares 2x Long BABA Daily ETF

KraneShares 2x Long JD Daily ETF

BABA 2x Long Daily ETF - GraniteShares

Next week's heavy schedule: China's Two Sessions, US Non-Farm Payroll, developments in Iran, MiniMax JD Bilibili financial report

.HXC

03896

The NASDAQ Golden Dragon China Index preliminarily closed down 1.7%, with a cumulative decline of about 5.8% in February. Among popular Chinese concept stocks, Nio fell 4%, Alibaba dropped 2.6%, and New Oriental, Li Auto, JD.com, and others fell over 1%. DAQUAN New Energy rose 0.6%, and Kingsoft Cloud increased by 7%

NASDAQ Golden Dragon China Index

KINGSOFT CLOUD

NIO-SW

Hwabao CSI HK Equities Internet ETF

Kingsoft Cloud

E Fund CSI HK Connect Internet ETF

Roundhill China Dragons ETF

Krne Csi China Internet

Invesco Golden Dragon China

Li Auto

601869

00700

01024

09888

09896

06166

06869

00399

08286

On February 27th, all three major indices of the Hong Kong stock market closed higher, with the Hang Seng Index rising 0.95% to 26,630.54 points, indicating a moderate recovery in market sentiment. Sector performance was mixed; boosted by demand for AI computing power, Longbridge surged 10.06%, while Cambridge Technology fell 8.28%. Large tech stocks showed varied performance, with Tencent Holdings up 1.17%, Kuaishou down 1.18%, and Alibaba slightly down 0.07%. The current market is in a data vacuum period, with funds maintaining high-level fluctuations and consolidating, awaiting further guidance from macro policies

- On February 27, the Hong Kong stock market closed higher, with all three major indices rebounding after a short-term adjustment, signaling a moderate recovery in market sentiment.  
- The Hang Seng Index rose by 0.95% to 26,630.54 points, indicating strong resistance despite not reaching prior highs, while the Hang Seng Technology Index and the Hong Kong Enterprise Index also increased slightly.  
- Focus shifts to post-holiday liquidity and corporate earnings expectations amidst a lack of key macroeconomic data, with investors eyeing U.S. Federal Reserve policies and mainland growth strategies.

Market Heartbeat

YOFC

KUAISHOU-W

BIDU-SW

MNSO

STARCOIN GROUP

CCOE

SANERGY GROUP

MAINLAND HOLD

ONEFORCE HLDGS

Tencent Holdings Limited

Hong Kong stock market closing | Hang Seng Index rose 0.95%, stabilizing at 26,600 points, YOFC surged 10.06%, Tencent rose 1.17%

513180

03088

BIDU

Hong Kong tech stocks performed poorly in February 2024, with the Hang Seng Technology Index falling by about 10%, marking the largest monthly decline in two years. Mainland capital significantly reduced holdings, and renowned investor Michael Burry pointed out that Tencent's stock price has seen no growth over the past five years, reflecting structural issues in Hong Kong stocks. Market enthusiasm for Chinese internet giants has waned, with investors shifting towards chip and AI startups. Baidu's stock price dropped over 19% due to weak performance. The market is focusing on the earnings of JD and Bilibili to seek clues about the industry's outlook

- The Hong Kong tech sector has underperformed in the Year of the Horse, with the Hang Seng Tech Index falling nearly 10% this month, marking its largest monthly decline since January 2024.  
- Significant sell-offs from mainland investors and a lack of support have led the index to bear market territory, with a nearly 23% drop from last October's highs.  
- Investor sentiment is shifting towards chip manufacturers and AI startups, and expected earnings reports from JD.com and Bilibili may provide insights into the sector's future.

Stheadline

ChinaAMC Hang Seng Technology ETF(QDII)

CAM HS TECH

Baidu

ISHARESHSTECH

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

CSOP HS TECH

Hong Kong tech stocks fell 10% in February, marking the worst performance in two years. "Big short" Burry laments: Tencent has zero returns over the past five years

As of the time of publication, the three major indices of the Hong Kong stock market are collectively strengthening during the trading session, with the Hang Seng Index approaching its recent high. The internet sector is performing well, with Tencent Holdings leading the way due to strategic adjustments and positive data from the Spring Festival, while Alibaba is rising on expectations for its cloud business. The telecommunications equipment sector is showing divergence, with YOFC reaching a historical high due to demand for AI computing power and inclusion in the MSCI Index. Market sentiment is relatively positive, with funds focusing on macroeconomic recovery and corporate performance

- The Hong Kong stock market shows an overall upward trend with the Hang Seng Index rising by 0.99%, reflecting positive investor sentiment after profit-taking.  
- Major stocks like Tencent and Alibaba experienced gains, driven by strategic adjustments and strong trading performance, particularly in the tech and retail sectors.  
- Macroeconomic factors are under scrutiny, with investors watching retail sales and GDP growth to gauge economic resilience amid evolving Fed monetary policy expectations.

Tencent

Hong Kong stock market intraday | The Hang Seng Index rose 0.99%, approaching the recent high, Tencent Holdings rose 2.44%, YOFC surged 9.10%

On February 27th, the three major indices of the Hong Kong stock market collectively warmed up in the morning session, with the Hang Seng Tech Index rising 1.03% to lead the market, and the Hang Seng Index increasing 0.75% to maintain a strong oscillating pattern. The internet and retail sectors performed actively, with Tencent Holdings leading the trading volume with a rise of 2.83%, Alibaba following with an increase of 1.05%, and Yangtze Optical Fibre rising sharply by 3.85, while stocks like Kuaishou and Cambridge Technology experienced adjustments. On the macro level, the market is in a data vacuum period, with investors waiting for guidance from Hong Kong's retail sales and CPI data, and overall bullish sentiment has somewhat recovered

- On February 27, Hong Kong's three major indices rebounded, with the Hang Seng Tech Index leading the market.  
- The Hang Seng Index rose by 0.75% to 26,578.43 points, and investor sentiment was generally positive, particularly in the technology and retail sectors.  
- Notable individual stock performances included a 125.81% surge in Great Wall Digital's shares following the lifting of its liquidation application, attracting speculative trading.

XUNCE

XIMEI RESOURCES

FI2 CSOP HSI

FI CSOP HSI

Hang Seng Composite Index

Harvest Hang Seng SCHK Technology ETF

Hang Seng Index

FL2 CSOP HSI

Hong Kong Stock Midday Review | Hang Seng Tech Index up 1.03%, Tencent Holdings up 2.83% leading the way, YOFC up 3.85%

On February 27th, during the Hong Kong stock market, the market showed a mild recovery trend, with the three major indices maintaining narrow fluctuations. The Hang Seng Index stabilized above 26,400 points, while the Technology Index consolidated around 5,100 points. In terms of sectors, the internet content and information sector experienced mixed fluctuations, with TENCENT's stock price rising due to favorable AI news, while KUAISHOU faced a pullback due to profit-taking pressure; the communication equipment sector declined overall, with CIG experiencing a significant drop. Market sentiment remained cautious, with investors closely monitoring macroeconomic data guidance

- Hong Kong stocks showed mild recovery on February 27, maintaining narrow fluctuations due to lack of significant positive stimuli.  
- The Hang Seng Index rose by 0.42% to 26,491.34 points, indicating stable support above 26,400 points, while the Hang Seng Tech Index saw a modest increase of 0.36%.  
- Market focus remains on economic recovery indicators like retail sales and export data, contributing to cautious sentiment among investors.

DRINDA

MANY IDEA CLOUD

HSTECH ETF

Hong Kong stock market intraday | The Hang Seng Index rose 0.36%, technology stocks fluctuated and diverged, Tencent Holdings increased by 1.17%, Kuaishou fell by 1.02%

09961

TCOM

TRIP

K3RD

89618

HJDD

BYTED

HTGD

In the early hours on Feb 26 in U.S. after-hours, under a regulatory overhang, $Trip.com(TCOM.US) released FY2025 Q4 results. Overall, the print was decent, with revenue growth beating prior guidance and re-accelerating.However, opex increased across the board, rising faster than revenue and dragging GAAP OP below expectations. Details follow:1) Strong, accelerating revenue growth. On revenue, total net revenue rose 21% YoY, marking a YTD high and a clear acceleration vs. last quarter. Growth across business lines was broadly ahead of prior guidance...

TCOM: After the regulatory crackdown, can it remain a lean, high-quality play?

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00005

Hong Kong stocks experienced a collective pullback today, with the three major indices retreating after reaching highs. The Hang Seng Index closed down 1.44%, and the Hang Seng Tech Index plummeted 2.87%. On the market, tech stocks and retail stocks showed weakness, with significant declines in heavyweight stocks like Alibaba and Kuaishou; bank stocks exhibited mixed performance, with HSBC Holdings rising 1.61% against the trend, supporting the market. Funds have not completely withdrawn, as the telecommunications equipment sector was in demand, with NANFANG COMM and MOBI DEV seeing significant price increases. On the macro front, the market is closely monitoring economic data from early 2026 to assess the sustainability of the recovery

- Hong Kong stocks experienced a collective pullback today, with the Hang Seng Index dropping 1.44% to close at 26,381.02 points after recent highs.  
- The Hang Seng Tech Index fell 2.87%, indicating significant profit-taking, while retail and internet sectors also showed declines amid a subdued market mood.  
- Investors are focusing on macroeconomic signals for early 2026, watching GDP growth and inflation rates to assess economic recovery and stock valuation trends.

NANFANG COMM

MOBI DEV

PUTIAN COMM

KPM HOLDING

ISHARESHSI

Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42%

IBUY

EBIZ

ONLN

JD.com (NASDAQ:JD) is set to release its Q4 2025 earnings on March 5, 2026, before market opening. Analysts predict earnings of $0.07 per share and revenue of $49.7 billion. The company has a market cap of $39.45 billion and a current stock price of $27.54. Recent institutional investments have increased, with 15.98% of shares held by institutional investors. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $38.71.

- JD.com is set to announce its Q4 2025 results on March 5th, 2026, with anticipated earnings of $0.07 per share and revenue of $49.7038 billion.  
- Currently trading at $27.54, the company has a market capitalization of $39.45 billion and notable analyst ratings, including a "Moderate Buy" consensus.  
- JD.com operates a comprehensive online retail platform and has expanded into sectors such as digital marketplaces and cloud solutions, supported by an integrated logistics network.

Market Beat

Amplify Online Retail ETF

Global X E-commerce ETF

VanEck Retail ETF

SPDR S&P Retail ETF

ProShares Online Retail

JD.com (JD) to Release Quarterly Earnings on Thursday

On February 26th, the Hong Kong stock market sentiment turned cautious, with all three major indices retreating. The Hang Seng Index fell by 0.95%, and the Hang Seng TECH Index plummeted by 2.19%. Blue-chip stocks generally weakened, with Alibaba and Tencent Holdings dropping by 2.9% and 1.82%, respectively. The funding situation showed a clear divergence, with the demand for AI computing infrastructure driving the communication equipment sector to rise against the trend, as YOFC surged over 4%. The current market is in the pullback confirmation phase after a breakout, with macro-level attention focused on liquidity verification and signals of domestic demand recovery

- On February 26, Hong Kong stocks declined across all major indices, reversing previous gains due to profit-taking and cautious investor sentiment.  
- The Hang Seng Index fell 0.95% to 26,511.22 points, with significant losses in technology stocks, while communication equipment firms saw gains driven by AI infrastructure demand.  
- Market liquidity and domestic consumption recovery remain key focuses for investors, monitoring M3 money supply and retail sales for insights into economic resilience.

DONGFANG ELEC

ILUVATAR COREX

FIT HON TENG

ALI HEALTH

Fullgoal CSI Communication Equipment Thematic ETF

Hang Seng TECH Index

Hong Kong Stock Market Update | The Hang Seng Index fell 0.95%, Alibaba dropped 2.9%, while the communication equipment sector surged against the trend

As of noon on February 26, Hong Kong stocks showed weakness across the three major indices, with the Hang Seng Index down 0.39% and the Hang Seng Tech Index falling 1.65%, leading the decline. In terms of sectors, retail and technology stocks generally retreated, with Alibaba down 2.09% and Kuaishou down 2.41%; the telecommunications equipment sector performed strongly against the trend, with Yangtze Optical Fibre and Cable rising 4.65% and Cambridge Technology up 5.02%. The market experienced a technical adjustment after reaching a peak, focusing on the endogenous momentum of economic recovery, with investment sentiment becoming cautious

- The Hong Kong stock market saw a collective decline in the main indices after reaching a peak, with the Hang Seng Index closing at 26,661.2 points, down 0.39%.  
- The technology sector led the decline, with the Hang Seng Tech Index falling 1.65%, attributed to significant technical corrections from recent highs.  
- While retail stocks fell, communication equipment stocks increased, driven by optimism around digital infrastructure policies.

FULUM GP HLDG

ZIJING INTL FIN

SINOPHARM TECH

Hong Kong Stock Market Mid-Review | Hang Seng Tech Index fell 1.65%, communication equipment stocks rose against the trend, Changfei Fiber increased by 4.65%, Alibaba dropped by 2.09%

Ctrip

Financial Analysis

TRIP.COM-S

Trip.com

Tripadvisor

TRIP ADR US+

JD-SWR

JD HK SDR 10to1

ByteDance

Trip.com HK SDR 50to1

$JD-SW(09618.HK)JD.com is trading close to historic lows and below many estimates of its intrinsic value. As of February 2026, the stock has a trailing P/E of about 7. For long-term value investors, it provides a dividend yield exceeding 3.75% and benefits from a best-in-class logistics network in China that supports a strong, defensible moat.At current prices, the market seems to be assuming no future growth. An outlook that may be overly pessimistic given the company’s continued revenue expansion. I am holding with strong conviction. Are you?

$JD-SW(09618.HK)I view JD.com as an attractive investment given its strong balance sheet and aggressive shareholder returns.The company’s conservative financial structure is highlighted by a cash-to-equity ratio of 0.65 and a low debt-to-equity ratio of 26.5%. It provides meaningful downside protection, balance sheet flexibility, and resilience across economic cycles. Its investment-grade credit rating from S&amp;P further reinforces its financial strength.JD.com is also actively returning capital to shareholders through a $5.0 billion share repurchase program running through August 2027, signaling strong confidence in intrinsic value.At a price-to-earnings multiple of around 7, the stock appears deeply undervalued, offering a compelling risk-reward profile for long-term value investors.

KC1028

AdmiralY

$JD-SW(09618.HK)$BABA-W(09988.HK)JD.com offers retail and logistics stability, while Alibaba’s diversified retail, cloud, and AI bring higher cyclical growth. I invest in both to capture China’s economic expansion. Are you on the same boat with me?

BABA-WR

Alibaba HK SDR 5to1

Today’s Key News Recap

0109 | Dolphin Research Focus. 🐬 Macro/Industry 1) HKEX announced it will add six stock options effective Jan 19, covering names such as Zijin Gold Intl, Laopu Gold, and Horizon Robotics.The additions broaden derivatives choices and offer more risk management tools. They should also help lift liquidity in the underlying names.🐬 Single Stock 1) $Taiwan Semiconductor(TSM.US) TSMC reported Dec revenue of NT$335.03bn, down 2.5% MoM but up 20.4% YoY. 2025 YTD revenue rose 31.6% YoY...

HKEX

HKEX-R

Hong Kong Exchanges and Clearing (HKEX)

Apple

Taiwan Semiconductor

Alphabet

Alphabet - C

LAOPU GOLD

Laopu Gld HK SDR 50to1

Direxion Auspice Broad COM

TSM Q4 rev. seen >NT$1 tn; GOOGL integrates Gemini into Gmail | Daily News Recap

0108 | Dolphin Research Focus: 🐬 Macro/Industry 1) The U.S. proposed a consignment sale of ~50 mn bbl of Venezuelan crude, keeping proceeds under U.S. control, while demanding Caracas cut economic ties with China, Russia and others and allow oil cooperation only with the U.S. Beijing strongly condemned the bullying move.In the near term, this could add volatility to energy markets. Over the longer run, it may prompt more countries to guard against unilateralism. 🐬 Single Stocks 1) $XD INC(02400.HK) The global version of 'Xindong Town' went live on Jan 8.It launched alongside a collaboration with the globally known IP 'My Little Pony'...

Town Centre Securities PLC

TowneBank

Chagee

BABA to ramp up investment in Taobao Flash Sale; 'Heartfelt Town' Intl server goes live | Daily News Recap

JPJDCOM@EC2609A(21615.HK)

Next week's heavy schedule: China's Two Sessions, US Non-Farm Payroll, developments in Iran, MiniMax JD Bilibili financial report

Hong Kong stock market closing | Hang Seng Index rose 0.95%, stabilizing at 26,600 points, YOFC surged 10.06%, Tencent rose 1.17%

Hong Kong tech stocks fell 10% in February, marking the worst performance in two years. "Big short" Burry laments: Tencent has zero returns over the past five years

Hong Kong stock market intraday | The Hang Seng Index rose 0.99%, approaching the recent high, Tencent Holdings rose 2.44%, YOFC surged 9.10%