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MEDBOT-B (2252): Revenue is expected to double in 2025, with Toumai's overseas orders exceeding 100, demonstrating economies of scale. National pricing guidelines will be implemented in 2026, clearing obstacles to pricing and ensuring profits. Driven by "expanding external and domestic demand," combined with policy dividends and domestic substitution, the company is accelerating towards break-even. While regulatory competition needs to be monitored, it already possesses the key conditions to transition from high growth to large-scale profitability.
The IMF Raises Global Economic Growth Forecast to 3.3%
The International Monetary Fund (IMF) has raised its 2026 global growth forecast to 3.3%, affirming the resilience of the US and Chinese economies amid the AI investment boom. The IMF described the massive corporate investment in AI infrastructure as offsetting some of the negative impact of trade barriers. However, this positive development masks underlying structural concerns. The IMF specifically warned of the "imbalance" in the US-China growth models—namely, the US's high deficit consumption and China's export dependence—which could become a breeding ground for a resurgence of trade protectionism.
Hong Kong Stock Connect recorded a net inflow of HK$13.9 billion on Wednesday, with the Tracker Fund of Hong Kong (2800) recording the largest net inflow at HK$4.15 billion, followed by the Hang Seng China Enterprises Index (2828). China Mobile (941) recorded the largest net outflow at HK$920 million, followed by Tencent Holdings (700).
The Hang Seng Index opened 90 points lower this morning but rebounded, rising as much as 205 points to 26,692 points in the late session, closing up 97 points or 0.4% at 26,585 points; the Hang Seng China Enterprises Index rose 28 points or 0.3% to 9,122 points; and the Hang Seng Tech Index rose 62 points or 1.1% to 5,746 points. Total market turnover was HK$250.451 billion. DeepSeek's new model MODEL1 was unveiled, leading to widespread gains in AI and chip-related stocks, with SenseTime (20) and Minimax (100) rising 4.2% and 3.8% respectively.
Source: KGI Investment Products and Solutions Department
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