On June 17, Northbound capital net sold A shares by 3.301 billion yuan, marking the sixth consecutive day of net sales.

Among them, Kweichow Moutai, BYD, and Midea Group respectively received net sales of 1.067 billion yuan, 0.502 billion yuan, and 0.334 billion yuan; Saic Motor, Nari Technology, and Zhongji Innolight respectively received net purchases of 0.516 billion yuan, 0.332 billion yuan, and 0.32 billion yuan.

Southbound capital net purchased 3.78 billion Hong Kong dollars today.

Tencent, Bank of China, and CNOOC received net purchases of 0.441 billion Hong Kong dollars, 0.343 billion Hong Kong dollars, and 0.285 billion Hong Kong dollars respectively; Brilliance China, Meituan, and China Mobile respectively experienced net sales of 0.24 billion Hong Kong dollars, 0.179 billion Hong Kong dollars, and 0.162 billion Hong Kong dollars. According to statistics, Southbound capital has been net buying CNOOC for seven consecutive days, with a total of 2.74339 billion Hong Kong dollars.

Individual Stocks Concerned: China Mobile: On the news front, Goldman Sachs issued a research report stating that the company's management maintained its expectations for stable growth in revenue and profit in 2024. Due to increased R&D and marketing expenses for enterprise business (cloud, artificial intelligence, industrial internet, etc.), EBITDA profit margin continued to show a downward trend, but the slowdown in depreciation costs helped support the trend of stable net profit margin. The management believes that the dividend payout ratio can be increased from 71% to the target of 75% in 2026. Goldman Sachs believes that stable business growth and steady capital expenditures should help China Mobile gradually increase its dividends. Chinahongqiao:

Kweichow MoutaiDropped 0.87%, at 1541.50 yuan. CITIC Securities said that recently the batch price of Feitian Moutai has declined, which reflects the current weak demand for baijiu. The restoration of business banquets has been slow, and the demand for wedding banquets has decreased to varying degrees, which has caused the stock price of the baijiu sector to adjust. Looking to the second half of the year, with the stimulation of real estate policies, the business scenario of baijiu may boost expectations, and other demands such as school banquets, Mid-Autumn Festival, and National Day may drive market growth.

Zhongji Innolight Rose 3.04%, at 142.51 yuan. According to the investor relations activity record disclosed by the company on June 17, industry customers have recently issued a demand guideline of 800G for 2025, and overall, there is significant growth compared to 2024. It is expected that 1.6T will begin shipping around Q4 this year.

Chongqing Sokon Industry Group Stock Rose 5.82%, at 92.90 yuan. According to the latest data from the China Association of Automobile Manufacturers, in May, new energy vehicle production and sales in China amounted to 940,000 and 955,000 units, respectively, up 31.9% and 33.3% YoY, with a market share of 39.5%; in January-May, new energy vehicle production and sales amounted to 3.926 million and 3.895 million units, respectively, up 30.7% and 32.5% YoY.

Materials of the companies of North Water

Brilliance China Rose 18.79%, at 8.47 Hong Kong dollars. After distributing a special dividend of 1.5 Hong Kong dollars in May, Brilliance China is offering another special dividend. Brilliance China will go ex-rights and ex-dividends on July 3, 2024, with 1 share paying a special dividend of 4.3 Hong Kong dollars. The relevant dividend registration date is July 4, 2024, the ex-rights date is July 3, 2024, and the dividend payment date is July 25, 2024.

Semiconductor Manufacturing International CorporationRose 2.61%, at 18.08 Hong Kong dollars. According to reports, Taiwan Semiconductor plans to raise prices. The price increase for 3nm foundry is expected to be more than 5%, while the annual quote for advanced packaging is also expected to rise by about 10%-20%. At the same time, Taiwan Semiconductor's 3nm has fully received orders from seven major customers such as Apple and Nvidia, and the supply falls short of demand. Orders are expected to be full until 2026.

MeituanRose 1.83%, at 116.8 Hong Kong dollars. On the evening of June 14, Meituan announced on the HKEx that after the shareholders' annual meeting, Shen Nanpeng resigned as non-executive director due to other work arrangements. Shen Nanpeng confirmed that he had no disagreements with the board of directors and there were no other matters related to his resignation that should be brought to the attention of shareholders.

Bank of ChinaRose 1.07%, at 3.78 Hong Kong dollars. CITIC Securities said that the banking sector saw a correction last week, reflecting the market's cautious expectations for financial data and the real economy in May. We believe that under the background of strengthening the regulation of financial empty rotation, financial data may experience fluctuations, and we expect the impact to continue into June. Looking ahead, the optimization of the match between finance and the real economy will instead improve the stability of the financial system, and financial assistance to entities will be more sustainable. We believe that the policies of various parties in the early stage are helpful to improve the risk expectations of bank stocks. The upward valuation of bank stocks has more fundamental support, laying a foundation for the certainty of dividend income.