On September 26, the southbound funds net bought 5.993 billion Hong Kong dollars in Hong Kong stocks today. Among them, Alibaba bought a net 5.86 billion, Meituan 0.412 billion, Ping An Insurance 0.348 billion, PetroChina 0.26 billion; net sold CNOOC 1.099 billion, China Mobile 0.627 billion, Xiaomi 0.397 billion, Kuaishou 0.269 billion.

According to statistics, the southbound funds have been net buying Alibaba for 10 consecutive days, totaling 37.415 billion Hong Kong dollars; net selling Tencent for 7 consecutive days, totaling 4.91018 billion Hong Kong dollars; net selling CNOOC for 6 consecutive days, totaling 2.68891 billion Hong Kong dollars; net selling China Mobile for 6 consecutive days, totaling 1.67946 billion Hong Kong dollars; net selling Xiaomi for 5 consecutive days, totaling 1.75442 billion Hong Kong dollars.

Materials of the companies of North Water

Alibaba: On September 25, spent approximately $19.9889 million to repurchase 1.6728 million shares.

Xiaomi Group: As of June 30, 2024, the unaudited revenue of the company was 164.395 billion yuan, a year-on-year increase of 29.6%; the profit for the first half of the year was 9.28 billion yuan, a year-on-year increase of 17.86%.

Ping An Insurance: Recently, the central bank and other departments have successively introduced a series of heavyweight policy combinations, injecting a "tonic" into the confidence of stabilizing the market. It mentioned that the reserve requirement ratio will be cut by 0.5 percentage points in the near future, releasing 1 trillion yuan of liquidity; setting up a 500 billion yuan swap facility for securities companies, fund companies, and insurance companies. Institutions generally believe that if market sentiment continues to improve, insurance stocks are expected to benefit from private equity investment income and valuation increase.

CNOOC: There are reports that Saudi Arabia is considering abandoning the unofficial crude oil price target of $100 per barrel, and instead increasing production to regain market share. International oil prices have fallen significantly during trading, with US and Brent crude once dropping more than 3%. CICC International released a research report stating that the target price for CNOOC has been lowered from HK$22 to HK$21.2, maintaining an "outperform market" rating. Based on CNOOC's stable profit growth prospects, attractive valuation, sound balance sheet, and appealing yield, CNOOC remains CICC International's top choice in the industry.

Anta Sports: Morgan Stanley stated that in the macroeconomic "bull market" scenario, mainland sporting goods stocks can outperform the market. Considering the macroeconomic upside and downside factors, it is believed that Anta is still a better balanced choice, as it has more downside protection (a HK$10 billion share buyback plan, with an expected earnings growth of about 20% in 2024), and its business can benefit from macroeconomic improvements.