Beishui Trends | Beishui Trading made a net purchase of 2.9 billion, and Beishui continued to increase its holdings in Hong Kong stock ETFs (02,800) over HK$600 million throughout the day

The Zhitong Finance App learned that on September 24, in the Hong Kong stock market, Beishui traded a net purchase of HK$2.9 billion. Among them, the Hong Kong Stock Connect (Shanghai) transaction had a net purchase of HK$3,099 million, and the Hong Kong Stock Connect (Shenzhen) transaction had a net sale of HK$199 million.

The individual stocks that Beishui Net bought the most were Yingfu Fund (02800), Tencent (00700), and Southern Hang Seng Technology (03033). The individual stocks sold the most by Beishui Net were Kingsley Biotech (01548), SMIC (00981), and Jiantao Group (00148).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Yingfu Fund (02800), Southern Hang Seng Technology (03033), and Hang Seng China (02828) received net purchases of HK$633 million, 555 million and HK$512 million respectively. Dongwu Securities believes that Hong Kong stocks are in a slight rebound trend at this stage. This rebound is closer to making up for bears after phased shortfalls in overseas countries, and is not based on improvements in fundamentals. Overseas risks are difficult to resolve at once, and will continue to be disrupted repeatedly in the future, maintaining a neutral and dynamic allocation of Hong Kong stocks.

Tencent (00700) received a net purchase of HK$630 million. Tencent WorkBuddy announced that its full-stack application generation capability officially supports WeChat applets. After users upgrade the PC version to 5.6.1 or above, they can describe requirements in natural language and complete the generation, preview and release of applets within the platform without installing developer tools, configuring AppID, or manually uploading code packages.

Jiantao Laminate (01888) received a net purchase of HK$298 million, while Jiantao Group (00148) received a net sale of HK$15.55 million. Citi released a research report saying that it recently communicated with the management of Jiantao Laminated Board and believes that in the face of a continued shortage of AI materials, there is room for the company's profits to rise. The bank pointed out that the key bottleneck for electronic fiberglass cloth is currently the supply of looms. It is expected that it will still be highly dependent on Toyota automatic looms in the next two years, as it accounts for more than 80% of the world's high-end looms. Furthermore, since AI power-related PCBs require 3oz thick copper foil, which is only 1oz compared to traditional FR4, which is more time-consuming to produce, it is expected that copper foil may become another bottleneck.

Changfei Optical Fiber Cable (06869) received a net purchase of HK$222 million. UBS covered China's fiber optic cable industry for the first time, and believes that investors' concerns about overcapacity and profit peaking in 2027 are significantly overestimated. UBS pointed out that since the stock price peaked in June, Changfei has fallen 37% because investors are worried that the expansion of optical fiber production capacity announced by peers and the new company may cause the company's profits to peak in 2027. However, UBS believes that the risk of overcapacity is limited.

Alibaba-W (09988) received a net purchase of HK$55.54 million. Alibaba CEO Wu Yongming said at the Yunqi conference that current customer demand for AI is very strong and will fully invest in AI infrastructure construction. The goal is to exceed 20GW of global data centers operated by Alibaba Cloud by 2032. Citi released a research report saying that the second day of the Alibaba Yunqi conference further strengthened the company's unique ability to monetize native IaaS, MaaS, and AI applications at multiple levels. Continuing the announcement on the first day, the second day showcased its end-to-end product execution details for the entire AI technology stack.

MINIMAX-W (00100) received a net purchase of HK$53.77 million. The v0.4.12 version of MiniMax Code CLI is officially open to developers around the world, and is officially open source under the MIT agreement. MiniMax Code CLI is the core component of the MiniMax Code client. Changjiang Securities pointed out that subsequent ARR growth may mainly depend on the release results of M3.1, M3Pro, and H3.1. The main focus of the company's core observation in the second half of the year is on the product side focusing on the M3.1 relay, M3Pro opening capacity, and the restoration of price caps and gross margin, and the company is expected to further unleash growth potential and flexibility.

In addition, GigaYi Innovation (03986) and Zhongji Xuchuang (03308) received net purchases of HK$56.98 million and HK$35.53 million respectively. Meanwhile, Kingsley Biotech (01548) and SMIC (00981) received net sales of HK$278 million and HK$225 million respectively.