UBMTUAN@EP2610A.P (27782) News

Meituan (03690.HK) responds to reports of large-scale layoffs, clarifying that fewer than 2,000 employees have actually left the company in the past two months.

Meituan (03690.HK) responded to media reports on layoffs, stating that fewer than 2,000 employees have actually left the company over the past two months, representing a small proportion of its total workforce. Earlier reports indicated that Meituan began conducting layoffs in early May, affecting multiple domestic business units, including Local Services Group Buying, Meituan Instant Shopping, Meituan Healthcare, and commercialization—the company’s core business segments.

AASTOCKSJul 13 09:58

Citi: Meituan (03690.HK) Open-Sourcing LongCat-2.0 Strengthens Competitive Moat

Citi published a report stating that Meituan-W (03690.HK) has officially open-sourced its trillion-parameter large language model, LongCat-2.0. The firm believes this strategic move will further solidify Meituan's leadership position in the local services market. The model’s advanced agentic architecture is expected to enhance internal R&D efficiency and attract external developers. The report notes that by leveraging its vast and proprietary offline transaction and operational data, Meituan can offer SME merchants unique AI-driven marketing solutions and business insights. Citi believes this will create a competitive moat, differentiating Meituan from other large language model providers and deepening its engagement with

AASTOCKSJul 13 10:39

Express News | According to information from the Hong Kong Exchange, BlackRock's stake in Meituan-W shares decreased from 6.26% to 5.94% on July 7.

BreakingsJul 13 17:05

The 'Self-Regulatory Covenant on Personal Information Protection for AI Agents' was released, with 31 companies signing as the first batch.

Sina Tech News, July 13 (midday): At the 'Forum on Netizen Rights and Personal Information Protection' during the 2026 China Internet Conference, the Self-Regulatory Covenant on Personal Information Protection for AI Agents was officially released, with 31 companies—including Tencent, Baidu, Meituan, and LianShang Group—among the first to sign it. According to the organizers, as a key self-regulatory covenant in the artificial intelligence industry, this agreement fills the gap in specialized norms for AI agents. By leveraging leading enterprises to set an exemplary standard, it aims to guide the AI industry toward standardized and healthy development, aligning with the '15th Five-Year Plan's requirements for safe and controllable artificial intelligence. At the event, Wei Ran, Chief Engineer of the China Academy of Information and Communications Technology, provided an interpretation of the covenant.

Sina TechnologyJul 13 16:43

Express News | Ministry of Foreign Affairs: **** will attend the opening ceremony of the 2026 World Artificial Intelligence Conference and the High-Level Meeting on Global Governance of Artificial Intelligence and deliver a keynote speech.

BreakingsJul 13 15:04

Goldman Sachs: Chinese equities show 'rotation signals,' with A-share hard-tech stocks still favored and H-share internet firms seeing earnings recovery.

Goldman Sachs’ latest China strategy maintains its tactical preference for A-shares over H-shares and hard tech over soft tech, but has started paying attention to the recovery potential of large-cap H-share internet stocks following their valuation adjustments. The key to sustained H-share rebounds lies not in valuations but in earnings: losses from internet subsidies and AI-related capital expenditures continue to weigh on profits. China’s AI sector as a whole is not viewed as a bubble, though signs of localized overheating have emerged in semiconductors and certain A-share hard tech segments.

wallstreetcnJul 13 10:34

The dental industry exits its high-growth expansion phase: where will future growth momentum come from?

① As industry growth slows, China's dental sector is exiting its golden era of rapid expansion and entering a profound cyclical transformation; ② In today's age of information overload, how to ensure that 'high-quality institutions and skilled practitioners' gain genuine visibility has become a pressing challenge for the entire industry.

cls.cnJul 10 18:19

Tech and internet stocks continued their recent rebound, as Hong Kong-listed internet giants aggressively implemented AI initiatives, with the Hang Seng Tech Index trading near its lowest valuation in the past decade.

July 10 — Hong Kong-listed tech stocks continued their recent rebound. As of the time of writing, Xiaomi rose nearly 3%, JD.com gained over 3%, Alibaba Group Holding Limited increased by nearly 3%, Kuaishou Technology rose more than 2%, and Baidu, Inc. climbed nearly 2%.

Zhitong FinanceJul 10 13:48

Meituan has successfully deployed China's first domestically developed trillion-parameter large AI model trained and inferred on a cluster of 50,000 domestic chips, completing the full domestic AI industrial chain.

Recently, Meituan officially launched its self-developed large language model LongCat-2.0—with a total of 1.6 trillion parameters—and announced that it will be open-sourced. Designed specifically for real-world Agentic Coding tasks, the model immediately attracted significant industry attention upon release. Prior to its official launch, a preview version of LongCat-2.0—released anonymously as Owl Alpha—was made available to global developers via the OpenRouter platform and longcat.ai, quickly rising to become one of the top three most-called large models worldwide on OpenRouter. I. The Model Is the Capability: Among the Top Globally by Usage Volume

Gelonghui FinanceJul 10 13:07

Express News | Officially open-sourced: Meituan LongCat-2.0 simultaneously releases inference code compatible with domestic AI chips.

BreakingsJul 9 20:03

China's first professional ranking on oral health has been released, with Meituan collaborating with authoritative doctors and scholars to launch the 'Sinan Dental Ranking.'

Gelonghui, July 9 — Meituan officially launched the 2026 Sinan Dental Ranking in Shanghai, featuring 576 dental institutions and 367 dentists across 33 cities nationwide, covering ten major dental categories including pediatric early orthodontics, orthodontics, and dental implants. Reportedly, this is China’s first professional ranking of dental institutions and practitioners specifically focused on family oral health. Combining dual evaluation criteria of “medical professionalism” and “user reputation,” the ranking has established a diversified assessment framework and systematic evaluation methodology, led by nine academic professors and independently reviewed through cross-assessment by over 40 experts from public tertiary hospitals, while also incorporating insights from more than 50 million dental-related consumer reviews on the platform.

Gelonghui FinanceJul 9 17:32

Goldman Sachs makes a strong call: Go long on China's AI value chain

As investors pull capital out of South Korea’s two leading memory chip giants—the top performers globally this year—and seek alternative assets with more attractive valuations, the Chinese market is clearly standing out…

cls.cnJul 9 11:31

Alex Kwok: The broader market has further breached the 24,000-point level.

Vincent Kwok, Vice Chairman of the Hong Kong Society of Technical Analysts, stated that the broader market rebounded further yesterday (the 8th). The Hang Seng Index not only reached a new intramonth high but also successfully reclaimed the 20-day moving average (around the 23,770 level). The index opened slightly higher by 45 points at 23,541 in early trading. As selling pressure remained subdued and buying interest continued to gradually emerge, the market steadily advanced to 24,310 before encountering some resistance. At one point during the session, the index surged as much as 814 points and successfully crossed both the 20-day moving average and the 24,000 mark. Compared to this month’s low of 22,953 points recorded on the 2nd, the market has experienced significant intramonth volatility.

AASTOCKSJul 9 10:01

Express News | Ministry of Commerce and eight other departments: Promote the use of digital RMB in consumer voucher issuance, settlement, and related processes.

BreakingsJul 9 08:28

Hong Kong Market Compass | Hang Seng Index Reclaims 24,000 Mark on Elevated Volume, Diverging from Overseas Markets in Short-Term Trend

① The Hang Seng Index rebounded on elevated trading volume, reclaiming the 24,000-point level—into which sectors are investors channeling funds? ② Short-term price action diverges from overseas markets—what risks still warrant attention?

cls.cnJul 8 20:53

Fund Flows | Southbound capital aggressively bought Zhipu AI, exceeding HK$4.3 billion! Reduced holdings in YOFC for four consecutive days.

Track the latest developments of southbound capital flows.

Gelonghui FinanceJul 8 19:39

Zhito HK Connect Active Trading | July 8

Hong Kong Stock Connect Active Trading | July 8, 2026

Zhitong FinanceJul 8 19:00

Zhongtai Securities: The expansion of instant retail is generating channel-driven opportunities for alcoholic beverages; recommend focusing on leading companies with strong channel presence and brand power.

It is advisable to focus on leading beer companies with robust omnichannel operational capabilities and the ability to launch products tailored to immediate channel demands, which are well-positioned to benefit fully from the growing young consumer base and all-day consumption trends.

Zhitong FinanceJul 8 16:49

Hong Kong Market Close: Soaring Across the Board! Hang Seng Index Surges 700 Points, Reclaiming 24,000; AI Tech Stocks Rally Sharply

On July 8, Hong Kong stocks experienced a long-awaited surge, driven by a collective rally in heavyweight technology shares that propelled the broader market higher. The Hang Seng Tech Index rose nearly 6% intraday and closed up 4.97%. The Hang Seng Index and the Hang Seng China Enterprises Index advanced 2.99% and 4.04%, respectively, with the Hang Seng Index gaining over 700 points to reclaim the 24,000 level. In sector performance, Alibaba led gains among tech stocks, Xiaomi surged 9.5%, and Baidu climbed more than 6%. AI-related applications saw sharp increases, with Zhipu AI soaring as much as 20% intraday, while SenseTime and MiniMax jumped 12%. Mainland-listed bank stocks also contributed to the rally, led by Industrial and Commercial Bank of China, with China Construction Bank and China Galaxy Securities each rising nearly 6%.

Gelonghui FinanceJul 8 16:38

Hong Kong Market Close | Tech Index Surges Nearly 5% in a Single Day as Funds Flow Back into Tech Stocks

① Zhipu AI faced the expiration of its first batch of post-IPO lock-up shares—why did its share price not only avoid a correction but instead surge nearly 14% against the market trend? ② Amid the recent broad rally in tech and internet stocks, what major AI-related announcements did Meituan, Tencent, and Kuaishou each unveil?

cls.cnJul 8 16:29