On December 27, southbound funds net bought 8.493 billion HKD in Hong Kong stocks.

Among them, the Stock Connect (Shanghai) net bought 3.918 billion HKD, and the Stock Connect (Shenzhen) net bought 4.575 billion HKD.

Net purchases included Semiconductor Manufacturing International Corporation 1.389 billion, LENOVO GROUP 0.782 billion, XIAOMI-W 0.755 billion, Industrial And Commercial Bank Of China 0.44 billion, WEIMOB INC 0.373 billion, CNOOC 0.237 billion; net sales included MEITUAN-W 0.457 billion, TENCENT 0.389 billion, Alibaba 0.18 billion, Kingsoft Cloud 0.105 billion.

According to Statistics, southbound funds have net bought Industrial And Commercial Bank Of China for 3 consecutive days, totaling 2.37147 billion HKD; net bought Semiconductor Manufacturing International Corporation for 4 consecutive days, totaling 3.75474 billion HKD; net bought WEIMOB INC for 5 consecutive days, totaling 1.70927 billion HKD; net bought XIAOMI-W for 6 consecutive days, totaling 2.26466 billion HKD.

Net sales of MEITUAN-W for 3 consecutive days totaled 2.31844 billion HKD.

Northern funds focus on individual stocks.

Semiconductor Manufacturing International Corporation: In terms of news, the semiconductor industry observation agency TechInsights has released the 2025 semiconductor manufacturing market outlook, predicting a 14% surge in semiconductor capital expenditure. Goldman Sachs' research report points out that there is continued optimism for Semiconductor Manufacturing International Corporation as a leading foundry enterprise in China, due to the growing demand from its clients for localized production. However, ongoing capacity expansion, increased supply of mature node capacity, intensified competition, and geopolitical risks remain concerns and suspense regarding valuation.

The firm also pointed out that, while optimistic about Semiconductor Manufacturing International Corporation's sales growth, the increase in average selling price may remain moderate due to the increased supply of mature node capacity in China. Overall, the firm expects Semiconductor Manufacturing International Corporation's gross margin to gradually recover and has raised its Target Price for H shares from HKD 29.2 to HKD 33.4, maintaining a 'Neutral' rating.

LENOVO GROUP: In terms of news, Lenovo officially announced a collaboration with Volcano Engine to integrate the large AI model 'Super Brain' into its AI desktop assistant, Ruyi, enhancing user experience comprehensively. Sealand Securities noted that with the help of the Doubao General Model Pro, Ruyi has transformed from a traditional system tool assistant into an intelligent dialogue-type comprehensive assistant, greatly improving the intelligent interaction experience between users and PC systems and enhancing Lenovo's competitiveness in PCs.

XIAOMI-W: In terms of news, media reports indicated that XIAOMI GROUP is strengthening the development of its own AI large model and is currently deploying a GPU cluster of 10,000 units, a significant increase compared to the approximately 6,500 GPUs at the time its large model team was established. Reports quoted insiders as saying that XiaomI began promoting this plan months ago, led by the group's chairman, Lei Jun.

Additionally, it was reported earlier that Lei Jun personally invested heavily in hiring Luo Fuli, one of the key developers of the DeepSeek open-source large model DeepSeek-V2, to join Xiaomi, who is expected to lead the Xiaomi large model team.

Industrial And Commercial Bank Of China: In terms of news, according to a document disclosed by the Hong Kong Stock Exchange on December 27, the Industrial And Commercial Bank Of China has seen shareholding increases of 45 million H shares by Ping An Insurance Company Of China Limited and its affiliated parties, valued at approximately 0.219 billion HKD.

WEIMOB INC: Kaishi Securities stated that the WeChat trading e-commerce platform is gradually improving, and WEIMOB INC, as a leading service provider for TENCENT, is expected to benefit first. The firm indicated that by 2024, the company will continue to reduce costs, increase efficiency, and shrink loss-making businesses, and by 2025, it is expected to turn losses into profits, raising its rating to 'Buy.'

CNOOC: In terms of news, the State-owned Assets Supervision and Administration Commission recently issued guidance to encourage central enterprises to manage their market capitalization actions. Everbright Securities pointed out that with the arrival of the peak season for Henry Hub Natural Gas and the favorable medium- to long-term demand for natural gas, as well as the continued advancement of market-oriented reforms, the 'three barrels of oil' companies as leading natural gas enterprises are expected to fully benefit. Additionally, the 'three barrels of oil' are significantly undervalued compared to overseas giants, and their long-term growth potential is expected to continue to be realized.

MEITUAN: According to the "Meituan" WeChat official account, based on the previous seven algorithm disclosures, MEITUAN will establish an algorithm disclosure area, continuously communicating the basic principles and running mechanisms of the algorithms with all sectors, increasing transparency, and promoting algorithms to be more fair and more humane. Further improvement of the rider fatigue prevention mechanism. Focus on solving the problem of riders running orders for excessive long hours, with current pilot programs already underway in East China and other regions. Based on the pilot situation and after collecting opinions from various sectors, MEITUAN will soon roll out nationwide fatigue prevention measures that combine pop-up alerts and mandatory offline interventions, while exploring more initiatives in the future to prevent excessive labor from affecting riders' physical and mental health.