Hong Kong-listed stocks were mixed on Friday after a busy week of earnings, with share price reactions diverging despite broadly resilient revenue growth.

Meituan (HKG:3690) finished 1% lower after reporting a loss of 15.1 billion yuan in the three months ended Dec. 31, 2025, reversing a profit of 6.22 billion yuan a year prior. However, the Chinese food delivery firm's revenue jumped 4.1% to 92.1 billion yuan in the fourth quarter from 88.5 billion yuan in the year-ago period.

Mao Geping Cosmetics (HKG:1318) closed almost 7% higher after reporting a profit attributable to owners of 1.20 billion yuan for 2025, up from 880.6 million yuan a year earlier.

The cosmetics maker's revenue rose to 5.05 billion yuan from 3.88 billion yuan in 2024.

Meanwhile, PICC Property and Casualty (HKG:2328) shed 1% even after its 2025 attributable profit increased to 40.4 billion yuan from 32.2 billion yuan a year prior.

The insurer's revenue grew 5.4% to 511.6 billion yuan from 485.2 billion yuan in 2024.

Sino Biopharmaceutical (HKG:1177) added 1% after reporting that its attributable profit from continuing operations increased to 2.34 billion yuan in 2025 from 1.92 billion yuan a year prior.

The drugmaker's revenue climbed 10% to 31.8 billion yuan from 28.9 billion yuan.

Lastly, Flat Glass (HKG:6865, SHA:601865) gained 7% in Hong Kong even after disclosing that its attributable profit slid 3% to 980.6 million yuan in 2025 from 1.01 billion yuan in 2024.

The glass manufacturer said its revenue declined 17% year over year to 15.6 billion yuan.

The mixed share price moves come as the outlook for 2026 earnings in Hong Kong remains broadly positive. In a note, DBS Bank said it sees policy support and AI-driven gains in technology firms as the main growth drivers, with internet and IT companies expected to translate AI adoption into stronger earnings. Geopolitical and macro risks, however, remain.