Beishui Trends | Beishui Trading made a net purchase of 791 million domestic bank stocks, and chip stocks were sold off. Beishui rushed Meituan (03690) to raise more than HK$1.2 billion

The Zhitong Finance App learned that on December 11, the Hong Kong Stock Exchange had a net purchase of HK$791 million, of which Hong Kong Stock Connect (Shanghai) had net sales of HK$320 million and the Hong Kong Stock Connect (Shenzhen) transaction had a net purchase of HK$1,111 million.

The individual stocks that Beishuijing bought the most were Meituan-W (03690), Xiaomi Group-W (01810), and Seashell-W (02423). The individual stocks sold the most by Beishui Net were CNOOC (00883), Alibaba-W (09988), and SMIC (00981).

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$1,279 million, while Alibaba-W (09988) had a net sale of HK$417 million. According to the news, Morgan Stanley pointed out that with the recent introduction of the “Basic Requirements for Delivery Platform Service Management” by the General Administration of Market Regulation, takeout competition is expected to peak in the third quarter, and both Ali and Meituan have promised to ensure rational competition within the industry. Damo said that this was another move after the General Administration of Market Regulation held a meeting with platform companies in July on “anti-domestic corruption,” and further strengthened Damo's view that competition peaked in the third quarter of this year and will gradually slow down starting in the fourth quarter.

Xiaomi Group-W (01810) received a net purchase of HK$1.09 billion. According to the news, CITIC Securities released a research report on the Xiaomi Group, saying that the automotive business revenue in 2025Q3 was 28.3 billion yuan, +197.9%, reversing losses for the first time (operating income of about 700 million yuan), driven significantly by a sharp rise in volume and price; the share of domestic models over 3,000 yuan increased to 24.1%; IoT gross margin increased, and the synergy between AI and automobiles was realized at an accelerated pace.

Shell-W (02423) received a net purchase of HK$647 million. According to the news, there has been a marked increase in recent market discussions on mortgage interest rate discount policies. According to the Huaxia Times, Yan Yuejin, deputy director of the Shanghai Yiju Real Estate Research Institute, said that currently, some cities have implemented mortgage interest rate discount policies. This practice can also reduce the mortgage pressure on buyers, but it is necessary to consider who is actually paying interest rates, whether banks or finance. However, if the interest rate discount policy is implemented, it can indeed stimulate potential demand for home purchases.

Domestic bank stocks continued to diverge. Agricultural Bank (01288) received a net purchase of HK$348 million, while ICBC (01398) and CCB (00939) received net sales of HK$79.78 million and HK$196 million respectively. According to the news, some major banks said that market concerns about asset quality risks for key housing enterprises have been revived. CITIC Securities said earlier that the positive effect of “advancing” real estate debt disposal is stronger than “waiting,” helping key housing enterprises to keep their real estate debts sustainable. Overall, the impact on the quality of bank housing loans is limited.

Chip stocks were sold off again, with Huahong Semiconductor (01347) and SMIC (00981) receiving net sales of HK$257 million and HK$403 million respectively. According to the news, Trump said via social media that the US government will allow Nvidia to sell H200 artificial intelligence chips to China. Trump said that the US Department of Commerce is finalizing the details of the relevant arrangement, and the same arrangement will also apply to other artificial intelligence chip companies, such as Ultramicrosemiconductor and Intel.

ZTE (00763) had a net sale of HK$358 million. According to the news, ZTE announced that the company is aware of recent news media reports on the company's compliance investigation involving the US Foreign Corruption Law. The company is communicating with the US Department of Justice on related matters and will resolutely protect its rights and interests through laws and other means.

In addition, Tencent (00700) and CNOOC (00883) had net sales of HK$115 million and HK$517 million respectively.