Alphabet (GOOG.O) executives: Depreciation expense growth is expected to accelerate in the first quarter and rise significantly throughout the year.

Individual Stock News: 1. CITIC Bank (00998.HK) invests RMB 2 billion in CITIC Financial Leasing. 2. Gemdale Properties & Investment (00535.HK): January contracted sales totaled approximately RMB 239 million, a year-on-year decrease of 61.82%. 3. Han's CNC (03200.HK): The company has finalized the price of its H-share issuance at HKD 95.80 per share. The H-shares are expected to be listed and begin trading on the Hong Kong Stock Exchange on February 6, 2026. 4. Weimob Group (02013.HK): Completed the issuance of a total of 172 million subscription shares. 5. MicroPort Robotics (02252.HK): Received a filing notice from the China Securities Regulatory Commission (CSRC) for its application to implement full circulation of H-shares. 6. Baidu (09888.HK): The company has authorized a new share repurchase program with a maximum repurchase amount of US$5 billion. 7. ZTO Express-W (02057.HK): Projects total revenue of RMB 48.5 billion to RMB 50 billion in 2025, representing a year-on-year increase of approximately 9.5% to 12.9%. 8. Lee & Man Paper Manufacturing (02314.HK): Issues profit warning: Expects profit of approximately HKD 1.88 billion to HKD 2 billion in 2025, representing a year-on-year increase of 38% to 47%. 9. China Resources Building Materials Technology (01313.HK): Issues profit warning: Expects profit attributable to shareholders in 2025 to increase by approximately 115% to 135% year-on-year. 10. Innovent Biologics (01801.HK): Achieves total product revenue of approximately RMB 11.9 billion in 2025, maintaining a strong growth momentum of approximately 45% year-on-year. 11. Fosun International (00656.HK) subsidiary Fosun Commercial Development plans to subscribe for RMB105 million of the increased registered capital of Shangmeng Technology, thereby acquiring 51.0879% of the equity of Shangmeng Technology after the capital increase.

Carlsberg CEO: Trade policy will be the biggest factor determining the consumer environment in 2026.