Boosted by two major positive catalysts! Financial stocks surged in the afternoon, strongly lifting the Hong Kong stock market. Institutions: 'Slow bull' remains the mainstream expectation.

In this process, insurance stocks initially gained momentum, followed by a sustained rise in brokerage stocks. The joint performance of these two sectors significantly boosted market sentiment, with a notable positive impact on the index. The number of rising stocks also rebounded significantly.

China SecuritiesDec 5 15:00

First Shanghai Securities: Reiterates 'Buy' Rating for PICC Property with Target Price at HKD 23.3

First Shanghai Securities released a research report granting PICC Property (02328) a “Buy” rating, with a target price of HKD 23.3, corresponding to 1.5 times PB in 2026. The target price represents a 21.7% upside from the current price. As China's economic structure transitions and demand for social risk protection increases, the non-auto insurance sector will be the core driver of future premium growth for PICC Property. The firm believes that the company is in a critical period of strategic transformation. In the domestic market, its non-auto insurance business has grown to become one of the “two wheels” alongside auto insurance, demonstrating strong growth momentum and continuous improvement in profitability. In overseas markets, the company’s internationalization strategy provides support.

Sina HK StocksNov 12 14:31

Express News | Reuters: China's Securities Regulatory Commission requests some brokers to suspend RWA business in Hong Kong

BreakingsSep 22 18:59

FIRST SHANGHAI: INTERIM REPORT 2025

HKEXSep 22 17:50 · Announcements

First Shanghai: Maintains a 'Buy' rating on Bruker, with significant growth in overseas market revenue.

First Shanghai released a research report stating that it maintains a "Buy" rating on Brilliance China (00325), expecting Non-GAAP shareholder net profits for 2025-2027 to be 0.725/0.998/1.268 billion yuan respectively. Therefore, it sets a target price of HKD 123.6, equivalent to a 40-fold PE based on the 2025 fiscal year profit forecast, indicating a potential increase of 30.1% from the current stock price. In the first half of 2025, the company achieved revenue of 1.348 billion yuan, a year-on-year increase of 27.9%, with a net profit of 0.297 billion yuan, turning positive year-on-year. The adjusted net profit was 0.32 billion yuan, an increase of 9.6% year-on-year, with an adjusted net profit margin of 23.9%, a decrease of 4.0% year-on-year.

Sina Hong Kong StocksSep 12 15:07

Several overseas brokerages recognize that AI-driven new growth has significantly improved the strategic upgrade of HuTongDa Network, with a continuous enhancement in profit quality.

Recently, Citi, First Shanghai, China Merchants International, and Pu Yin International have successively released their latest research reports on Huixingtongda Network (09878). Based on the company's mid-term performance in 2025 and its full-stack AI collaboration with Alibaba Cloud, institutions widely recognize the strategic transformation results of Huixingtongda. They express confidence in the company's growth driver of "AI + Smart Supply Chain" and have assigned a "Buy" rating, with some target prices reaching HKD 23. First Shanghai's commentary noted that Huixingtongda's profitability indicators have reached historical highs, demonstrating the effectiveness of the strategic transformation pathway since the second half of 2024, along with continuous improvement in operational quality—company AI+

Sina Hong Kong StocksSep 12 14:55