The Zhitong Finance App learned that in the Hong Kong stock market on August 25, Beishui traded net sales of HK$6.605 billion. Among them, Hong Kong Stock Connect (Shanghai) had net sales of HK$4.482 billion and Hong Kong Stock Connect (Shenzhen) had net sales of HK$2,124 billion.
The individual stocks that Beishui Net bought the most were Meituan-W (03690), MINIMAX-W (00100), and Pharmaceutical Biotech (02269). The individual stocks sold the most by Beishui Net were Jiantao Laminated Board (01888), Southern Hang Seng Technology (03033), and Changfei Optical Fiber Cable (06869).
Hong Kong Stock Connect (Shanghai) active trading stocks
Hong Kong Stock Connect (Shenzhen) active trading stocks
Meituan-W (03690) received a net purchase of HK$867 million. Meituan will announce its second-quarter results at the end of August. Citi expects the company's performance to meet or slightly exceed expectations, maintaining the current forecast. That is, total revenue for the second quarter increased 10.7% year-on-year to 101.7 billion yuan, and adjusted net profit of about 633 million yuan. Compared with general market expectations of 10.9 billion yuan and 270 million yuan. Under the supervision of subsidies and competition by the regulatory authorities, the bank believes that the economic benefits of takeout business units may recover faster than expected, which is expected to drive better performance.
MINIMAX-W (00100) and Smart Spectrum (02513) received net purchases of HK$376 million and HK$123 million respectively. Ping An Securities pointed out that Zhi Spectrum GLM-5.3 entered the global cutting-edge model capability range, and at the same time significantly lowered the threshold for using cutting-edge model capabilities with a smaller parameter scale and lower calling costs; Alibaba AI commercialization accelerated across the board, quarterly cloud external commercialization revenue increased 45% year on year, and AI related products achieved three-digit year-on-year growth for the 12th consecutive quarter. Currently, the ability to iterate large domestic models continues to improve, which will further push domestic models from “usable” to “easy to use” and accelerate the penetration of application scenarios in thousands of industries.
Pharmaceutical Biotech (02269) received a net purchase of HK$194 million. Overseas CXO performance generally exceeded expectations. Xiangcai Securities believes that the recent overall performance of CXO is a global trend where industry fundamentals continue to improve under the recovery of global pharmaceutical financing. Chinese CXO related companies with engineer dividends will fully enjoy industrial dividends, and sustainability is expected to be strong under the positive trend of the global industry.
Alibaba-W (09988) had a net sale of HK$183 million. Alibaba recently announced a HK$80 billion IPO. All proceeds will be invested in full-stack AI capabilities and AI infrastructure construction. The placement was actively subscribed by long-term investors such as global sovereign wealth funds, and eventually oversubscribed by nearly 3 times. After announcing the HK$80 billion IPO plan, Alibaba Group Chairman Choi Chung-sun and CEO Wu Yongming took steps to increase their holdings of Alibaba shares by a total of about HK$120 million, casting confidence in the company's AI strategy.
SMIC (00981) and Huahong Hongli (01347) were net sold at HK$315 million and HK$436 million respectively. Goldman Sachs released a research report saying that semiconductor capital expenditure data disclosed during the second quarter earnings season generally exceeded expectations, and superimposed equipment suppliers gave a more optimistic outlook, which together drove this round of major revisions to forecasts. The bank sharply raised its global fab equipment spending forecast for the next three years, raising the market size forecast for 2026 to 2028 to 150 billion, 218 billion and 281 billion US dollars, respectively. The increase significantly exceeded previous expectations.
Southern Hang Seng Technology (03033) had a net sale of HK$742 million. Guoyuan International believes that the decline in short-term interest rate hikes will help the valuation of Hong Kong stocks, but high long-term US bond yields, weak domestic fundamentals, and insufficient incremental capital still limit the index's further upward trend. Therefore, the bank still uses “index fluctuations, sector differentiation and rotation” as the current benchmark situation.
Jiantao laminate (01888) was sold in net sales of HK$1,194 million. According to a research report published by UBS, the mid-term profit of Jiantao laminated boards surged 209% to 2.9 billion yuan, and the gross margin reached 30.7%, an increase of 12.3 percentage points over the same period last year, and 2.1 percentage points higher than the bank's expectations. It mainly benefited from the cost advantages of vertical integration and the increase in the average sales price of copper clad plates and upstream materials. Revenue for the period increased 55% year over year to HK$14.9 billion, 7% lower than the bank's forecast, but operating expenses control and operating leverage were better than expected.
In addition, Tencent (00700) received a net purchase of HK$3.61 million, while Changfei Optical Cable (06869) and GigaYi Innovation (03986) received net sales of HK$526 million and HK$168 million respectively.