On November 15, southbound funds net bought Hong Kong stocks for 0.922 billion Hong Kong dollars.

Among them, Hong Kong Stock Connect (Shanghai) net sold 1.516 billion Hong Kong dollars, and Hong Kong Stock Connect (Shenzhen) net bought 2.438 billion Hong Kong dollars.

Net buying included Tencent 0.629 billion, CSOP Hang Seng Tech Index ETF 0.516 billion, Ping An Insurance 0.491 billion, China Mobile 0.422 billion, Alibaba 0.39 billion, Meituan 0.251 billion, Xiaomi 0.262 billion, CNOOC 0.215 billion;

Net selling included Tracker Fund of Hong Kong 5.744 billion, Hang Seng H-share Index ETF 0.95 billion, Geely Autos 0.153 billion.

According to statistics, southbound funds have net bought Xiaomi for 5 consecutive days, totaling 3.11463 billion Hong Kong dollars; they have net bought Tencent for 4 consecutive days, totaling 4.08194 billion Hong Kong dollars.

Additionally, in the 40 trading days since being included in Hong Kong Stock Connect, southbound funds have cumulatively net bought Alibaba for 69.39907 billion Hong Kong dollars.

Materials of the companies of North Water

Tencent: According to a research report by Citigroup, Tencent's third-quarter performance was steady, with total revenue increasing by 8% year-on-year, and gross profit, operating profit, and net profit growing by 16%, 19%, and 33%, respectively. This is mainly due to a rebound in game revenue and robust advertising support. Looking ahead to the fourth quarter of this year and the first half of 2025, total revenue growth in domestic and international games is expected to remain healthy, with game revenue maintaining strong double-digit growth in the fourth quarter and the first half of 2025.

The bank stated that although recent stimulus policies will take time to take effect, the company's management is optimistic about the long-term economic outlook and will continue to focus on delivering results within its control. The bank maintains a target price of 573 Hong Kong dollars and an 'buy' rating, listing the stock as its preferred and core holding.

Ping An Insurance: In terms of news, Ping An Insurance announced that in the first ten months of this year, its subsidiary Ping An Property & Casualty Insurance's original insurance contract premium income was 265.7 billion yuan (same below), a year-on-year increase of 6.5%; Ping An Life Insurance premium income was 447.44 billion yuan, a year-on-year increase of 9.4%; Ping An Pension Insurance premium income reached 15.01 billion yuan, a year-on-year decrease of 5.4%; and Ping An Health Insurance premium income was 15.1 billion yuan, a year-on-year increase of 14.2%.

China Mobile: In terms of news, Wang Zhiqin, head of the 6G promotion group and vice president of the China Academy of Information and Communications Technology, stated that the technical standard research for 6G will start in June 2025, with the technical research phase to be completed between 2025 and 2027 and the first version of the technical specifications to be completed by March 2029. Currently, including China, partners of the 3GPP standard from Europe, the USA, Japan, South Korea, and India are jointly developing 6G standards. Guoyuan International previously pointed out that the three major operators are still continuously increasing their dividends. Based on the current stock price, its dividend yield is expected to further increase from the current 6% level.

Alibaba: Alibaba will announce its third-quarter results today. In terms of news, well-known Wall Street fund manager Michael Burry, the prototype for the movie 'The Big Short,' led the hedge fund Scion (Scion Asset Management) which disclosed its form 13f holdings. In the third quarter, the fund significantly increased its shareholding in Alibaba, jd.com, baidu, and other Chinese stocks.

Meituan: Morgan Stanley released a report stating that Meituan is the company with the fastest year-on-year compound operating profit growth among the Chinese internet stocks it covers, maintaining an 'add' rating and a target price of 215 Hong Kong dollars, and raising the target price in the best-case scenario for next year to 300 Hong Kong dollars (previously 290 Hong Kong dollars).

Xiaomi: In terms of news, during the 2024 Guangzhou Auto Show, Xiaomi Auto will hold a press conference. Chairman @Lei Jun stated that deliveries of the Xiaomi SU7 exceeded 0.02 million units in October this year, and are expected to deliver over 0.02 million units in November.

CNOOC: On the news front, CNOOC announced on the 14th that the largest offshore smart oil field cluster in the country - Enping 15-1 oil field cluster has all 76 production wells transitioned to production, with a daily output exceeding 7,500 tons, setting a historical record.

Geely Auto: Macquarie released a research report stating that it has upgraded Geely Auto's rating to "outperform the market," and has raised the earnings per share forecast for 2024, 2025, and 2026 by 8%, 16%, and 11% respectively, to reflect the performance in the third quarter, with the target price raised by 13% to 18 Hong Kong dollars. Geely Auto's merger and acquisition plan is a significant step in integrating diversified brands, which will clarify the roadmap for electric vehicle development.