On June 21, the net buying of northbound funds was 4 million yuan, ending the trend of net selling for the previous 9 consecutive days.

CRRC, HG Info, Qinghai Salt Lake Industry respectively received net buying of 280 million yuan, 269 million yuan, 256 million yuan. Kweichow Moutai and Midea Group were net sold out for RMB 876 million and RMB 450 million respectively. According to statistics, northbound funds have net sold out Kweichow Moutai for 5 consecutive days, with a total of 4.5888 billion yuan.

Southbound funds had a net buying of HKD 4.578 billion.

China Construction Bank, China Mobile, and CNOOC each received net buying of HKD 675 million, HKD 544 million, and HKD 398 million; Yankuang Energy and United Energy Group each received net selling of HKD 94.78 million and HKD 2.92 million.

According to statistics, southbound funds have been net bought China National Offshore Oil Corp for 11 consecutive days, with a total of HKD 4.11823 billion; net bought China Construction Bank for 5 consecutive days, with a total of HKD 1.68243 billion; net bought Industrial and Commercial Bank of China for 4 consecutive days, with a total of HKD 1.05916 billion; net bought China Mobile for 4 consecutive days, with a total of HKD 1.1808 billion; and net bought Tencent for 3 consecutive days, with a total of HKD 946.79 million.

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:

CRRC: On June 19th, the first batch of CR240EG plateau electric-driven mine dump trucks independently developed by CRRC were officially delivered in Lhasa, Tibet. The CR240EG high-altitude electric-powered mine dump truck is a type of mine transportation product tailored by CRRC Datong Electric Locomotive Co., Ltd. for high-altitude areas. It has a rated loading capacity of 220 tons and a total weight of 400 tons. The technology is fully self-controlled.

Qinghai Salt Lake Industry: The company held a performance briefing on June 19, 2024, and responded to the question 'Will the newly added 40,000 tons of lithium energy be completed by the end of 2024?' The company replied that the construction of the 40,000-ton lithium and salt integration project is accelerating, and the overall progress of the project is within the company's plan, and it is expected to be completed by the end of 2024.

Guizhou Moutai:According to Wine Price Reference Data, the wholesale reference price of Moutai 1935 today fell below the 800 yuan/bottle mark, reporting 780 yuan/bottle, showing a situation of price 'inversion'. Moutai 1935 adopts a purchase mode that distinguishes the inside and outside of the planned quantity, with a planned internal price of 798 yuan/bottle and a planned external price of 1088 yuan/bottle. Moutai 1935 is a strategic product of Kweichow Moutai, with sales exceeding 10 billion yuan last year.

Materials of the companies of North Water

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.The company released customer data for May 2024. In terms of mobile services, the total number of customers has reached 998.44 million households, and the net increase of customers this month is 1.078 million households. The number of 5G network customers has reached 502.558 million households. In terms of wired broadband services, the total number of customers has reached 307.521 million households, with a net increase of 1.118 million households this month.

Yankuang Energy:GF Securities Research Report: The supply continues to be low, and the peak summer is coming, and the supply and demand may tend to be balanced slightly tight. The sector may benefit from the gradual stabilization and rebound of coal prices. It is expected that with the improvement of seasonal demand, good macro expectations, and an increase in both electricity and non-electrical demand, the performance of the electrical utilities sector will have room for improvement. In addition, the production safety remains normal, and the coal price may continue the trend of stability with an upward trend. The production of each company in the second quarter is expected to gradually rebound steadily, especially the production of regions such as Shanxi and Henan, and the performance is expected to steadily improve.

SenseTime: The company received an investment of HKD 2 billion, and multiple strategic investors and leading funds increased their shareholdings. In addition, SenseTime will release DayDayNew 5.5 at the World Artificial Intelligence Conference on July 5th.