The Zhitong Finance App learned that on May 8, the Hong Kong Stock Exchange had a net purchase of HK$1.79 billion, of which the Hong Kong Stock Connect (Shanghai) transaction made a net purchase of HK$574 million and the Hong Kong Stock Connect (Shenzhen) transaction made a net purchase of HK$1,217 billion.

The individual stocks that Beishui Net bought the most were Ideal Automobile-W (02015), China Mobile (00941), and China Shenhua (01088). The individual stocks sold the most by Beishui Net were HSBC Holdings (00005), Tencent (00700), and CNOOC (00883).

Hong Kong Stock Connect (Shanghai) actively traded stocks

Hong Kong Stock Connect (Shenzhen) actively traded stocks

Ideal Automobile-W (02015) received a net purchase of HK$342 million. According to the news, according to Ideal Auto's official blog, during the first sales period from April 18 to May 5, the cumulative number of orders for Ideal L6 units exceeded 41,000 units. Furthermore, in April 2024, the company delivered 25,787 new cars, an increase of 0.4% over the previous year. Dongwu Securities pointed out that the introduction of a new pricing system for new L6 cars+old models has effectively boosted terminal sales performance. Continued OTA upgrades focus on user value, and new models and new markets are about to open up space for medium- to long-term growth.

China Mobile (00941) received a net purchase of HK$196 million. According to the news, Morgan Stanley previously indicated that China Mobile's first-quarter service revenue increased 4.5% year-on-year, which is basically in line with the bank's expectations. EBITDA fell 2.3% year-on-year, which is 3% lower than the bank's expectations. However, net profit increased 5.5% year-on-year, roughly in line with expectations, as weak EBITDA was offset by a reduction in depreciation and amortization (D&A) expenses. The bank maintains an “gain” rating on China Mobile, with a target price of HK$80.

Coal stocks received additional capital from Beishui. China Shenhua (01088) and China Coal Energy (01898) received net purchases of HK$88.02 million and HK$61.48 million respectively. According to the news, CITIC Securities pointed out that in 2023, due to the fall in coal prices, the overall profit of the sector declined significantly, but the cash flow situation of sector companies was still relatively good, and investment cash flow also contracted to a certain extent. In the context of declining performance, coal companies actively increased dividend rates to return shareholders. The volume and price of coal declined in the first quarter of 2024. Sector performance was under pressure. Some regions were affected by safety inspections, and profit declines exceeded expectations. Looking ahead to the whole year, demand and coal prices are expected to gradually break out of the trough starting in the second quarter. Listed companies' performance is expected to gradually stabilize in Q2, and companies with “low dividend” attributes for a long time are still popular.

CCB (00939) had a net sale of HK$47.93 million. According to the news, DBS released a research report saying that the company's net profit for the first quarter fell 2.2% year on year to 87 billion yuan, in line with market expectations. Management emphasized that in the current complex environment, CCB is more concerned with the quality of growth rather than simply seeking to expand the size of its balance sheet. The bank expects CCB's profit to grow at an average compound annual rate of about 2.7% from 2023 to 2026, while this year's profit may fall year on year.

CNOOC (00883) had a net sale of HK$219 million. According to the news, WTI crude oil fell below $77 per barrel for the first time since March 11, falling 1.44% during the day. Furthermore, Morgan Stanley cancelled the risk premium of $4/barrel in Brent's price forecast and returned to the forecast of $90/bbl by the third quarter; it is expected that OPEC will extend the current production agreement at the upcoming June meeting, eventually until the end of the year, including voluntary production cuts.

Tencent (00700) had a net sale of HK$808 million. According to the news, Tencent will announce its results for the first quarter of this year next Tuesday (14th). Lyon released a research report saying that due to the decline in domestic game revenue, Tencent's revenue growth is expected to slow to 5.9% in the first quarter, reaching 158.9 billion yuan. However, net profit is expected to maintain a healthy year-on-year increase of 15.6% to RMB 53.2 billion before the adjusted net profit. The bank believes that the company can maintain a compound three-year increase in earnings per share of 15% to 20%.

HSBC Holdings (00005) had a net sale of HK$836 million. According to the news, HSBC Holdings announced the relevant voting results of the annual shareholders' meeting. Some sources revealed that Qi Yao-nian's proposed appointment of directors met with 16% opposition. Since the number of votes against Qi Yao-nian's re-election as a director was similar to China Ping An's shareholding, some market sources indicated that Ping An of China opposed re-appointing Qi Yaonian as a member of the board of directors at this year's HSBC shareholders' meeting. A person related to Ping An of China responded: “There is no information in this regard.”