The Zhitong Finance App learned that on September 22, in the Hong Kong stock market, Beishui had net sales of HK$4.228 billion, of which Hong Kong Stock Connect (Shanghai) had net sales of HK$2,443 billion and Hong Kong Stock Connect (Shenzhen) had net sales of HK$1,785 million.
The most purchased individual stocks by Beishui Net were Tencent (00700), Meituan-W (03690), and China Ping An (02318). The most sold individual stocks by Beishui Net were Yingfu Fund (02800), Southern Hang Seng Technology (03033), and Hang Seng China Enterprises (02800).
Hong Kong Stock Connect (Shanghai) actively traded stocks
Hong Kong Stock Connect (Shenzhen) actively traded stocks
Beishui Capital secured online stocks. Tencent (00700), Meituan-W (03690), and Kuaishou-W (01024) received net purchases of HK$569 million, 411 million, and HK$163 million respectively. According to the news, Guoxin Securities said that after the 2023Q2 financial report was released, most Internet companies were optimistic about their performance guidelines for the second half of the year; compared horizontally with other industries, the cost performance ratio of stocks in the Internet sector was outstanding. In the context of policy care, the bank believes that the company's procyclical assets with good quality and strong fundamentals have strong room for growth. Yamato released a research report stating that it reaffirmed the positive views of the mainland Internet industry.
Ping An China (02318) received a net purchase of HK$201 million. According to the news, CBI published a research report indicating that in January-August, the total premiums of the six listed life insurance companies increased 7.7% per year. The growth rate has continued to rise since the beginning of the year, but in August, as scheduled interest rates were lowered and implemented, the growth rate slowed down. According to the bank, after the scheduled interest rate reduction was implemented, the downward trend on the debt side of life insurance was in line with expectations. It is expected that in the context of the formal implementation of the new asset management regulations and the reduction in deposit interest rates, savings insurance products will still be competitive. It is recommended to pay attention to the good start of the fourth quarter.
Xiaopeng Motor-W (09868) received a net purchase of HK$128 million. According to the news, Xiaopeng introduced a minor G9 facelift. Goldman Sachs published a report saying that the pricing of the new Xiaopeng G9 is competitive and has advanced characteristics, and will be the driving force for growth in sales volume and gross margin in the fourth quarter. In the short term, after the launch of the G6 model, the company's delivery volume will regain momentum and gross margin will also improve, mainly due to increased economies of scale and lower battery prices. In the long run, it is believed that the company's leading position in driving assistance and its ability to concentrate on R&D will further drive revenue and gross margin growth.
Pudat Technology (00650) received a net purchase of HK$23.82 million. According to the news, Pudat Technology recently announced the development of the semiconductor and solar equipment business. Since April 1, 2023, the company has received purchase orders and prototype orders for 61 devices from various customers, including semiconductor wafer cleaning equipment, solar cell wet treatment equipment, and metallization process equipment for solar cell manufacturing. Revenue from these purchase orders and prototype orders has not yet been confirmed.
Sunac Services (01516) received a net purchase of HK$6.96 million, while Sunac China (01918) received a net sale of HK$24.53 million. According to the news, Sunac China disclosed the progress of overseas debt restructuring. As part of the restructuring consideration, the plan creditors' final choices for mandatory convertible bonds and existing Sunac Services shares are US$3,989 million for mandatory convertible bonds and US$1.34 billion for Sunac Services shares, both exceeding current limits and will be distributed in proportion.
CNOOC (00883) had a net sale of HK$227 million. According to the news, the Federal Reserve announced that interest rates would remain unchanged, but strengthened its hawkish stance. It is expected that interest rates will be raised again before the end of the year, and that monetary policy for the full year of 2024 will be much tighter than previously anticipated. This could lead to a drop in oil demand. Goldman Sachs believes that most of the increase in oil prices has passed, and it is unlikely that Brent crude oil will continue to exceed 105 US dollars per barrel next year.
Hong Kong stock ETFs were sold off by Beishui Capital. Yingfu Funds (02800), Southern Hang Seng Technology (03033), and Hang Seng China Enterprises (02800) had net sales of 5.229 billion, 655 million, and 377 million Hong Kong dollars, respectively. According to the news, CICC recently stated that the market is likely to show a bottom, but the upward space may still be limited until more “symptomatic” policies and measures are implemented. What is quite certain is that it is currently at a “policy bottom,” so policy support is still expected to continue to be introduced to consolidate results, but on the one hand, it may take time for the market to get out of the bottom region.
Additionally, SMIC (00981) and China Mobile (00941) received net sales of 127 million and HK$245 million respectively.