The Zhitong Finance App learned that in the Hong Kong stock market on July 15, Beishui traded a net purchase of HK$13.364 billion. Among them, Hong Kong Stock Connect (Shanghai) had net purchases of HK$4.497 billion, and Hong Kong Stock Connect (Shenzhen) had net purchases of HK$8.866 billion.
The individual stocks that Beishui Net bought the most were Alibaba-W (09988), Tencent (00700), and Smart Spectrum (02513). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), SMIC (00981), and Huahong Hongli (01347).
Hong Kong Stock Connect (Shanghai) active trading stocks
Hong Kong Stock Connect (Shenzhen) active trading stocks
Beishui's capital is rushing to raise scientific and network stocks. Alibaba-W (09988), Tencent (00700), and Meituan-W (03690) received net purchases of HK$3.09 billion, $1,805 billion and HK$1,286 billion respectively. OpenRouter data shows that the weekly call volume of China's AI models has been at the top of the world for 11 consecutive weeks, with Tencent Hy3 and DeepSeekv4-Flash taking the top six. Guoxin Securities said that in terms of performance, the current AI direction of Hong Kong stocks is the most definitive. The valuation of leading Internet companies is low, and there is huge room for valuation repair for some leading companies. The future focus will be on the performance of related AI models.
Smart Spectrum (02513) received a net purchase of HK$1,539 million. Tang Jie, founder of Smart Spectrum, recently released an internal letter entitled “The Big Wave Has Arrived”. The core message is that Zhipu is preparing to advance the “Touch High Touch High Plan” in the next two years to challenge the physical and algorithmic limits of current technology. Instead of pursuing short-term application monetization for the next two years, it points directly at the next high point of AGI. Specifically, it includes focusing on long-range tasks, autonomous agents, self-training, and model safety.
Changfei Optical Fiber Cable (06869) received a net purchase of HK$959 million. Changfei Optical Fiber Cable released Yingxi. The net profit for the first half of the year is estimated to be about 2.4 billion to 3 billion yuan, an increase of 711% to 914% over the previous year. Damo pointed out that the previous 50% pullback has fully absorbed supply-side concerns. Demand for the AI-driven optical fiber supercycle has not changed. The current valuation is very attractive, and the time is ripe to enter the market.
Mega Easy Innovation (03986) received a net purchase of HK$741 million. Changxin Technology's IPO issuance price has been determined to be 8.66 yuan/share. Based on the company's total share capital estimates after listing, Changxin Technology's listing valuation is about 580 billion yuan, but the market generally anticipated that the market value of Changxin Technology's issuance would impact trillion yuan. According to a report by the Securities Times, some industry insiders told the reporter that Changxin Technology's issuance pricing fully takes into account the actual situation of the company. The company's valuation should gradually increase as the company grows; this is a long-term principle.
Zhaoyan Pharmaceutical (06127) once surged 30% today. Some of Beishui's capital was sold at high prices, with a net sales volume of HK$11.74 million throughout the day. Zhaoyan Pharmaceutical expects net profit of 600 million yuan to 900 million yuan in the first half of the year, a year-on-year increase of 884.9% to 1377.4%. The performance explosion was not due to a sharp improvement in order profits from the main security assessment business, but from the appreciation of the company's experimental monkey assets. During the period, changes in the fair value of biological assets such as experimental monkeys contributed 703 million yuan to 777 million yuan in net profit.
Huahong Hongli (01347) and SMIC (00981) received net sales of HK$230 million and HK$653 million respectively. Morgan Stanley recently warned that there are more signs that chipmakers' limited pricing capabilities mean these stocks may have risen too much due to optimism about AI spending. Analysts at the bank pointed out that they saw that the AI data center technology stack is being redesigned to include lower-cost self-developed chips, and many hyperscale cloud service providers are now designing these chips themselves.
Yingfu Fund (02800) had a net sale of HK$1,328 billion. Guoxin Securities believes that global marginal liquidity has been tightened to a certain extent. With the US dollar index breaking through, the liquidity of Hong Kong stocks is weak. In terms of performance, the direction of AI is the most certain. Furthermore, we believe that the market may be slightly overinterpreting the logic of the Fed's interest rate hike. As non-farmers cool down and inflation gradually declines, commodities will also usher in opportunities for valuation repair.
In addition, Jiantao Laminate (01888) received a net purchase of HK$130 million. Meanwhile, China Life Insurance (02628) had a net sale of HK$141 million.