- The author argues that many Hong Kong stocks rely on old stories and lack clear main-line logic during market recoveries, requiring investors to carefully distinguish cash-generating assets from cash-burning ones.
- Factual evidence shows that companies like Sichuan Expressway generated 4.887 billion yuan in revenue with a 12.55 percent year-on-year increase in the first half, and Yidu Technology achieved its first full-year profit exceeding 55 million yuan in fiscal year 2026.
- In contrast, firms like J&T Express face intense competition, and Morimatsu International experienced a revenue decline of about 4.3 percent with losses exceeding 140 million yuan.