Afternoon review of Hong Kong stock market

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Hong Kong market quick look | Hong Kong stocks narrowed in losses in the afternoon, the Hang Seng Index fell nearly 1%; tech and Apple Supplier stocks declined, SUNNY OPTICAL dropped over 7%, Xiaomi fell nearly 4%; Weichai Power surged over 11%.

Futu News · Jan 8 16:23

富途资讯1月8日消息，港股三大指数午后跌幅收窄；截至收盘，三大指数齐跌， $恒生指数 (800000.HK)$ 跌0.86%， $恒生科技指数 (800700.HK)$ 跌1.09%， $国企指数 (800100.HK)$ 跌0.84%。

截至收盘，港股上涨495只，下跌1435只，收平1171只。

具体行业表现如下图：

板块方面，科网股多数下行，小米集团-W跌3.95%，网易-S涨2.98%，腾讯控股跌2.74%，快手-W跌1.48%，美团-W跌1.34%，百度集团-SW跌0.75%，阿里巴巴-W跌0.61%，京东集团-SW涨0.22%。

苹果概念股走弱，东江集团控股跌7.66%，舜宇光学科技跌7.58%，瑞声科技跌7.17%，高伟电子跌6.68%，丘钛科技跌4.67%，比亚迪电子跌3.23%，富智康集团跌2.38%，伟仕佳杰跌1.22%。

煤炭股多数下跌，兖矿能源跌4.73%，力量发展跌3.94%，中国神华跌2.78%，蒙古焦煤跌2.68%，易大宗跌2.54%，兖煤澳大利亚跌1.86%，首钢资源跌1.64%，中煤能源跌0.45%。

手游股走弱，多牛科技涨10.00%，博雅互动跌8.88%，创梦天地跌7.94%，心动公司跌4.58%，网易-S涨2.98%，腾讯控股跌2.74%，金山软件跌1.55%。

生物技术股多股下行，云顶新耀-B跌11.24%，来凯医药-B跌6.22%，晶泰控股-P跌4.07%，金斯瑞生物科技跌2.28%，康方生物跌2.09%，药明生物涨1.85%，巨子生物跌0.96%，药明康德跌0.78%。

半导体股多数下跌，脑洞科技跌4.52%，中电华大科技跌3.28%，晶门半导体跌3.23%，华虹半导体跌3.13%，上海复旦跌2.51%，中芯国际跌1.93%，宏光半导体跌1.85%，英诺赛科跌0.16%。

个股方面，$海信家电 (00921.HK)$涨近8%，家电国补增至12类，有望持续拉动家电换新需求释放。

$微盟集团 (02013.HK)$涨超7%，机构看好其率先受益于微信电商生态完善。

$鸿腾精密 (06088.HK)$跌超5%，GB200机柜供应链仍需时间优化，英伟达即将推出GB300。

$万洲国际 (00288.HK)$涨近3%，旗下史密斯菲尔德递交美股IPO申请。

$潍柴动力 (02338.HK)$涨幅扩大逾11%，瑞银看好首季LNG卡车需求反弹，上调评级及目标价。

$网易-S (09999.HK)$逆势涨近3%，重磅游戏《燕云十六声》移动端将于明日上线。

$万国数据-SW (09698.HK)$涨超7%，数据中心需求激增，公司海内外市场均有布局。

$中信金融资产 (02799.HK)$跌超5%，公司完成向中信集团转让金租公司60%股权。

今日成交额TOP10

港股通资金

港股通方面，今日港股通（南向）净流入148.73亿港元。

机构观点

德银：腾讯股价近期或有波动，但有回购计划作为支撑

德意志银行分析师Leo Chiang在一份研究报告中表示，被美国防部纳入军工企业名单后， $腾讯控股 (00700.HK)$ 股价近期可能出现波动，不过，这对腾讯的业务运营应该没有影响。腾讯应该能够解决任何误解，因为已经有一些公司被从五角大楼的名单上删除了。尽管近期股价波动，但该公司强有力的回购计划应该会支撑其股价。德意志银行维持对腾讯的买入评级，并将其目标价维持在540港元。

招证国际：维持吉利汽车“增持”评级和目标价21.8港元，列为行业首推股

招证国际发表报告指出， $吉利汽车 (00175.HK)$ 去年12月批发量为21万辆，按年增长40%，全年批发217.7万辆，按年增32%，超过200万辆目标8.8%，今年目标271万辆。该行认为，吉利去年新能源及燃油车均衡增长，超额完成销量目标，今年将延续强势增长。

此外，该行指吉利造车技术架构持续创新，大量投放高竞争力新品，迎接新能源产品大年。技术创新方面，吉利将升级GEA 3.0架构，优化超级电混技术，并将其赋能于吉利所有产品序列，加大自驾投入以达到L3。智能座舱方面，吉利已具备从硬件设计到制造闭环能力，将打造统一的互联网生态系统，提升用户体验。

该行指，吉利为行业首推股，维持“增持”评级和目标价21.8港元，对应2025财年市盈率16.3倍，接近历史平均16倍。

大和：重申携程集团“买入”评级，目标价上调至780港元

大和发布研究报告称，重申 $携程集团-S (09961.HK)$ “买入”评级，将2025至2026年收入及每股盈利预测上调0.2%至1.2%，以反映入境游收入贡献提升，目标价由675港元上调至780港元。大和继续列携程为首选股之一。

报告中称，携程海外平台Trip.com自2024年以来市场份额不断增长，预期中国最新的免签证政策，未来将持续为该公司带来入境游机遇，目前预测2025年携程入境旅游收入将翻倍，将占Trip.com收入约28%，以及集团整体收入的约4%，相信入境游业务发展可成为强劲催化剂。

编辑/jayden

On January 8, Futu News reported that the three major indexes of the Hong Kong stock market narrowed their losses in the afternoon; by the close, all three indexes had declined. $Hang Seng Index (800000.HK)$ Down by 0.86%, $Hang Seng TECH Index (800700.HK)$ Down by 1.09%, $Hang Seng China Enterprises Index (800100.HK)$ Down by 0.84%.

By the close, 495 stocks rose, 1435 stocks fell, and 1171 stocks closed unchanged.

The specific industry performance is shown in the following figure:

In terms of sectors, most Network Technology stocks declined, with XIAOMI-W down 3.95%, NTES-S up 2.98%, TENCENT down 2.74%, KUAISHOU-W down 1.48%, MEITUAN-W down 1.34%, Baidu group-SW down 0.75%, Alibaba-W down 0.61%, and JD-SW up 0.22%.

Apple Supplier stocks weakened, with TK GROUP HLDG falling 7.66%, SUNNY OPTICAL down 7.58%, AAC TECH decreasing 7.17%, COWELL down 6.68%, Q TECH down 4.67%, BYD ELECTRONICS falling 3.23%, FIH declining 2.38%, and VSTECS down 1.22%.

Most Coal Industrial Concept stocks dropped, with YANKUANG ENERGY falling 4.73%, KINETIC DEV down 3.94%, China Shenhua Energy dropping 2.78%, MONGOL MINING down 2.68%, E-COMMODITIES falling 2.54%, YANCOAL AUS down 1.86%, SHOUGANG RES down 1.64%, and China Coal Energy down 0.45%.

Mobile Game stocks weakened, with INFINITIES TECH rising 10.00%, BOYAA down 8.88%, IDREAMSKY down 7.94%, XD INC down 4.58%, NTES-S up 2.98%, TENCENT down 2.74%, and KINGSOFT down 1.55%.

Many Biotechnology stocks declined, with EVEREST MED-B falling 11.24%, LAEKNA-B down 6.22%, HG SEMI down 4.07%, GENSCRIPT BIO down 2.28%, AKESO down 2.09%, WUXI BIO up 1.85%, ZYBIO down 0.96%, and WUXI APPTEC down 0.78%.

Most Semiconductor stocks decreased, with BRAINHOLE TECH falling 4.52%, CE HUADA TECH down 3.28%, SOLOMON SYSTECH down 3.23%, HUA HONG SEMI down 3.13%, SHANGHAI FUDAN down 2.51%, Semiconductor Manufacturing International Corporation down 1.93%, HG SEMI down 1.85%, and INNOSILICON down 0.16%.

In terms of individual stocks,$HISENSE HA (00921.HK)$Up nearly 8%, national subsidies for home appliances have increased to 12 categories, which is expected to continue stimulating demand for home appliance upgrades.

$WEIMOB INC (02013.HK)$Up over 7%, Institutions are bullish on its potential to benefit first from the improved WeChat e-commerce ecosystem.

$FIT HON TENG (06088.HK)$Down over 5%, the GB200 cabinet supply chain still needs time to optimize, and NVIDIA is about to launch the GB300.

$WH GROUP (00288.HK)$Increased by nearly 3%, with its subsidiary Smithfield submitting an IPO application for the US stock market.

$WEICHAI POWER (02338.HK)$The increase expanded to over 11%, with UBS Group optimistic about the rebound in LNG truck demand in the first quarter, upgrading the rating and target price.

$NTES-S (09999.HK)$Increased by nearly 3% against the trend, the major game "Yanyun Shiliu Sheng" will go live on mobile tomorrow.

$GDS-SW (09698.HK)$Increased by more than 7%, with a surge in demand for datacenters, the company has layouts in both domestic and overseas markets.

$CITIC FAMC (02799.HK)$Dropping over 5%, the company completed the transfer of 60% equity in the gold leasing company to CITIC Group.

Today's transaction volume TOP10

Hong Kong Stock Connect funds

Regarding the Stock Connect, today's net inflow of Hong Kong Stock Connect (southbound) is 14.873 billion Hong Kong dollars.

Institutional perspective

Deutsche Bank: TENCENT's stock price may experience fluctuations in the near term, but there is a buyback plan as support.

Deutsche Bank Analyst Leo Chiang stated in a research report that after being listed by the US Department of Defense as a Military Industry enterprise, $TENCENT (00700.HK)$ Stock prices may fluctuate in the near term, however, this should not affect TENCENT's business operations. TENCENT should be able to address any misunderstandings, as some companies have already been removed from the Pentagon's list. Despite recent stock price fluctuations, the company's strong buyback plan should support its stock price. Deutsche Bank maintains a Buy rating for TENCENT and keeps its Target Price at HKD 540.

Zhao Zheng International: Maintains a Shareholding rating for Geely Automobile and a Target Price of HKD 21.8, listed as the top recommended stock in the industry.

Zhao Zheng International issued a report stating, $GEELY AUTO (00175.HK)$ Last December, wholesale volume was 0.21 million units, a 40% year-on-year growth, with a total of 2.177 million units wholesaled for the year, up 32% year-on-year, exceeding the 2 million units target by 8.8%, with a target of 2.71 million units for this year. The firm believes that Geely achieved balanced growth in both new energy and fuel vehicles last year, exceeding its sales targets, and will continue to see strong growth this year.

Additionally, the firm indicates that Geely's vehicle manufacturing technology architecture is continuously innovating, launching a significant number of highly competitive new products to welcome a year of new energy products. In terms of technological innovation, Geely will upgrade the GEA 3.0 architecture, optimize hybrid electric technology, and empower all product lines with it, increasing investment in autonomous driving to achieve L3. In terms of smart cockpits, Geely has the capability to close the loop from hardware design to manufacturing, aiming to create a unified Internet ecosystem to enhance user experience.

The firm states that Geely is the top recommended stock in the industry, maintaining a Shareholding rating and a Target Price of HKD 21.8, corresponding to a PE ratio of 16.3 times for the fiscal year 2025, close to the historical average of 16 times.

Daiwa: Reiterates a Buy rating for TRIP.COM-S, raising the Target Price to HKD 780.

Daiwa issued a research report, reiterating the "Buy" rating, raising the income and earnings per share forecast for 2025 to 2026 by 0.2% to 1.2%, reflecting the increased contribution from inbound tourism revenue, and raising the target price from HKD 675 to HKD 780. Daiwa continues to list TRIP.COM-S as one of its preferred stocks. $TRIP.COM-S (09961.HK)$ The report states that the overseas platform Trip.com of TRIP.COM-S has been continuously increasing its market share since 2024, expecting that China's latest visa-free policy will continue to bring inbound tourism opportunities for the company. It is currently predicted that TRIP.COM-S's inbound tourism revenue will double by 2025, accounting for approximately 28% of Trip.com's income and about 4% of the group's overall revenue, believing that the development of the inbound tourism business can become a strong catalyst.

The report indicates that TRIP.COM-S's overseas platform, Trip.com, has been continuously increasing its market share since 2024. The latest visa-free policy in China is expected to provide ongoing inbound tourism opportunities for the company. Currently, the forecast suggests that TRIP.COM-S's inbound tourism revenue will double by 2025, accounting for about 28% of Trip.com's income and approximately 4% of the group's overall revenue, believing that the growth of the inbound tourism business can become a strong catalyst.

编辑/jayden

The translation is provided by third-party software.

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