Financial Services Association, May 22 (Editor: Hu Jiarong) Today, the three major indices of the Hong Kong stock market had mixed ups and downs; only the technology index closed slightly higher. At the close, the Hang Seng Index fell 0.13% to close at 19195.6 points; the Technology Index rose 0.30% to close at 3992.59 points; and the State-owned Enterprises Index fell 0.05% to close at 6817.68 points.

Today's market

Judging from market performance, individual stocks related to biomedicine, photovoltaics, and electronic components showed the highest performance, while individual stocks such as gold continued to decline.

Most biomedical stocks strengthened, and Jinxin Fertility rose nearly 6%

Among biomedical stocks, Jinxin Reproduction (01951.HK), Bekang Medical-B (02107.HK), and Genting Xinyao B (01952.HK) rose 5.97%, 5.29%, and 3.71% respectively.

In terms of news, starting June 1, Shanghai will include 12 assisted reproductive technologies in medical insurance payments. In order to implement active fertility support measures, the Shanghai Municipal Health Insurance Bureau, together with the human resources social security and health departments, recently issued the “Notice on Including Some Therapeutic Assisted Reproduction Technology Projects in the Scope of Medical Insurance and Work Injury Insurance Payments”. Shanghai will include 12 assisted reproductive medical service programs in the scope of medical insurance payments, covering necessary medical assisted reproduction techniques such as egg retrieval, sperm extraction, artificial insemination, embryo cultivation, and embryo transfer. It is expected to reduce the burden on insured personnel by about 900 million yuan each year.

Stimulated by this news, Beikang Healthcare and Jinxin Fertility, which are related to the above businesses, led biomedical stocks.

The trend of individual photovoltaic-related stocks picked up, and Xinte Energy rose more than 17%

Among photovoltaic stocks, Xinte Energy (01799.HK), GCL New Energy (00451.HK), and GCL Technology (03800.HK) rose 17.03%, 14.12%, and 12.03% respectively.

In terms of news, on the afternoon of May 17, under the guidance of the Electronic Information Department of the Ministry of Industry and Information Technology, the China Photovoltaic Industry Association organized a “Symposium on High Quality Development of the PV Industry” in Beijing. The conference pointed out that the photovoltaic industry is an industry with a high degree of marketization, and it is more appropriate to solve the current industry difficulties through market-based means, but it should also give full play to the tangible role of the government, including optimizing the guiding role of PV manufacturing industry management policies in industry capacity construction and improving key technical indicators; standardizing the management of local government investment promotion policies to establish a unified national market; adapting to the rapid iteration of photovoltaic technology and establishing effective intellectual property protection measures; encourage industry mergers and restructuring to smooth the market exit mechanism.

Apple phones hit big sales on the first day of 618, Gaowei Electronics rose more than 6%

Among electronic components stocks, Gaowei Electronics (01415.HK), Shunyu Optical Technology (02382.HK), and Ruisheng Technology (02018.HK) rose 6.10%, 2.17%, and 1.01% respectively.

In terms of news, on the evening of May 20, the Tmall 618 promotion campaign was launched, and the official Tmall Apple Store flagship store launched a big price reduction. The iPhone 15 series phones are being promoted the most, with a direct reduction of up to 2,300 yuan. According to data released by Tmall, Tmall 618 went on sale at 8 p.m. on May 20. It went on sale for 1 hour, and Apple's transaction amount exceeded 1.5 billion yuan. Industry insiders pointed out that iPhone sales declined markedly in the first quarter, so sales were boosted through price reduction promotions.

Gold stocks continued to weaken, China Gold International fell more than 4%

Among gold stocks, Lingbao Gold (03330.HK), China Gold International (02099.HK), and Zhaojin Mining (01818.HK) rose 4.23%, 4.10%, and 2.47% respectively.

In terms of news, after international gold prices continued to reach new highs at the beginning of this week, the price of this variety continued to weaken. At press time, it was down 0.19% to $2416.24.

Southbound funding

Net capital inflows to the south continued today, reaching HK$1,653 billion. Since May, there has been a cumulative southbound inflow of HK$34.591 billion.

Individual stock news and changes

[Xiaopeng Motors rose more than 13%, Q1 revenue increased by more than 60% year on year]

Xiaopeng Motor-W (09868.HK) rose 13.05% to close at HK$34.65. In terms of news, the company's first-quarter revenue was 6.55 billion yuan, up 62.3% year on year, better than the market estimate of 6.11 billion yuan; gross margin increased, with quarterly gross margin of 12.9%, up 11.2 percentage points year on year, exceeding the estimate of 9.15%.

[Vitasoy International rose by more than 6% and the annual net profit is expected to increase by up to 1.76 times]

Vitasoy International (00345.HK) rose 6.29% to close at HK$7.43. According to the news, the company expects profit attributable to equity holders for the fiscal year ending March 31, 2024 to HK$106 million to HK$126 million, an increase of 132% to 176% over the previous year.

[Lenovo Group increased by more than 12%, institutions raised Lenovo's target price and rating]

Lenovo Group (00992.HK) rose 12.18% to close at HK$11.42. Morgan Stanley published a report saying that with the rise of artificial intelligence computers, the growth of artificial intelligence computers and artificial intelligence servers will support Lenovo's revaluation. In addition, the bank listed Lenovo as the preferred stock and raised its target price by 64.8%, from HK$9.1 to HK$15, while the rating was upgraded from the same time as the market to increase its holdings.