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Real-time News
February 11th - Ant Financials "Afu" has launched an Alipay red envelope campaign. New users who register through "Afu" from February 11th to February 12th can receive a 16.8 yuan Alipay red envelope.On February 11, Iranian Foreign Minister Araqchi stated in an interview that Iran is capable of reaching a new agreement on the nuclear issue that is superior to the Obama administrations Iran nuclear deal. He emphasized that this goal is achievable, and that Iran is not only capable of reaching an agreement better than previous ones, but also of providing credible guarantees against developing nuclear weapons. He pointed out that the nuclear weapons issue is the primary concern of all parties involved, and Iran can provide guarantees on this matter. Furthermore, Araqchi stated in the interview that Iran still does not have complete trust in the United States. The attack on Iran during negotiations last June was a very bad experience, and ensuring that such an incident does not repeat itself depends primarily on the United States.On February 11th, Citigroup issued a research report stating that China Literature Limited (00772.HK) issued a profit warning, projecting non-IFRS adjusted net profit for last year to be between RMB 800 million and 900 million, lower than Citigroups and market expectations. The bank estimates that New Classics Media may record a loss in fiscal year 2025, mainly due to delays in content production leading to limited drama series releases, a significant difference from Citigroups previous forecast of releasing six drama series in the second half of the year and recording RMB 243 million in profit. Profit from non-New Classics Media businesses may be RMB 1 billion, lower than Citigroups pre-earnings forecast of RMB 1.08 billion. Therefore, Citigroup believes that the lower-than-expected profit for China Literature in 2025 is mainly due to the limited content releases from New Classics Media, while non-New Classics Media businesses will only slightly underperform expectations. Given that the market is already aware of the content production delays, Citigroup believes that the disappointing performance of New Classics Medias business should not be surprising. Citigroup expects the market to lower its profit forecast for China Literature in response to the profit warning, and the share price is expected to decline. Citigroup maintains a buy rating on China Literature with a target price of HKD 38.On February 11th, Citigroup released a research report predicting that Pop Marts (09992.HK) IP-centric diversification strategy will enhance its ability to withstand IP cyclical risks and revitalize new demand. Citigroups weekly data tracking shows a recent upward trend in app downloads, particularly in China and the US, which Citigroup attributes primarily to the launch of its new Skullpanda x My Little Pony series. Looking ahead to 2026, Citigroup predicts that the groups breakthroughs in IP diversification, product innovation, and monetization capabilities across a wide range of sectors will drive growth. The report mentions that the groups other iconic IP products, such as SKULLPANDA and CRYBABY, are becoming new growth drivers and have their own fan bases, proving they are not simply substitutes for LABUBU. The report predicts that non-LABUBU IPs have upside potential this year, and recent global consumer surveys also suggest that interest in non-LABUBU IPs in overseas markets may be underestimated. Citigroup has given Pop Mart a "Buy" rating with a target price of HK$415, based on a P/E ratio of 28x for 2026 earnings. The group commands a premium compared to most global toy and IP peers, likely due to its rapid growth driven by overseas expansion. Citigroup also believes Pop Mart deserves a premium over its domestic competitors due to its leading position.OpenAI founder Altman: Today we updated GPT-5.2 (Instant Model) in ChatGPT. While the changes are minor, we hope you find them to be an improvement.
