Futu News reported on March 26 that the three major Hong Kong stock indices all rose.$Hang Seng Index (800000.HK)$ Increase of 0.60%,$Hang Seng TECH Index (800700.HK)$Increase of 1.01%, $Hang Seng China Enterprises Index (800100.HK)$Increase of 0.44%.

As of the market close, 1180 Hong Kong stocks rose, 889 fell, and 1061 closed flat.

The specific industry performance is shown in the picture below:

In the Sector, Network Technology stocks rose, JD-SW increased by 1.80%, KUAISHOU-W fell by 1.67%, NTES-S rose by 1.62%, Alibaba-W rose by 1.41%, Baidu Group-SW rose by 1.36%, XIAOMI-W rose by 1.03%, TENCENT rose by 0.90%, and MEITUAN-W rose by 0.88%.

Property Services and Management stocks performed well, CHINA RES MIXC rose by 10.75%, EVERG SERVICES rose by 8.11%, GREENTOWN SER rose by 4.65%, POLY PPT SER rose by 4.25%, CG SERVICES rose by 3.23%, WANWUYUN rose by 2.42%, CHINA OVS PPT rose by 2.32%, and SUNAC SERVICES rose by 1.79%.

Most Dining stocks rose, with JIUMAOJIU rising by 8.14%, HAIDILAO rising by 6.14%, YUM CHINA rising by 3.32%, SUPER HI rising by 2.21%, JIUMAOJIU rising by 2.02%, DPC DASH rising by 1.89%, XIABUXIABU rising by 1.15%, and HELENS falling by 0.62%.

Building Materials stocks rose, ENVIRO ENERGY increased by 19.64%, CONCH CEMENT rose by 4.60%, Huaxin Cement rose by 2.77%, BBMG Corporation rose by 2.70%, CNBM rose by 2.03%, and WESTCHINACEMENT rose by 1.36%.

Autos stocks generally rose, LEAPMOTOR rose by 4.85%, BRILLIANCE CHI rose by 3.50%, Geely Automobile rose by 3.00%, LI Auto-W rose by 2.70%, BYD shares rose by 2.36%, Xpeng Motors-W rose by 1.94%, Great Wall Motor rose by 0.82%, and YADEA rose by 0.40%.

Most Lithium Battery stocks strengthened, with Zhong Chao Innovation rising by 3.60%, LEOCH INT'L rising by 3.23%, BYD Electronics falling by 2.94%, BYD shares rising by 2.36%, CHAOWEI POWER rising by 1.36%, GANFENGLITHIUM falling by 1.35%, Tianqi Lithium Corporation falling by 1.21%, and TIANNENG POWER falling by 0.74%.

In terms of individual stocks,$EVERG VEHICLE (00708.HK)$Up nearly 75%, the company announced the postponement of the release of its 2024 performance, and trading will be suspended starting from April 1.

$LAOPU GOLD (06181.HK)$Rising nearly 5%, the annual net income is expected to increase by as much as 2.6 times, with reports indicating the company will open a store at Shanghai Hang Lung Plaza.

$POP MART (09992.HK)$Rising nearly 11%, the annual net income increased by nearly 1.9 times year-on-year, with overseas business maintaining rapid growth.

$HAIDILAO (06862.HK)$Rising over 6%, the company reported a revenue of 42.755 billion yuan last year and disclosed the progress of its franchise stores for the first time.

$LEAPMOTOR (09863.HK)$Increased by nearly 5%, won the bid for the Hongqi G117 project procurement, and reports suggest it may use LEAP3.5 technology.

$CHINA RES MIXC (01209.HK)$After the earnings report, it surged over 10%, with an annual net profit increase of nearly 24%, and a final dividend including a special dividend of 1.257 yuan.

$NONGFU SPRING (09633.HK)$Dropped more than 8%, with the net profit growth rate for 2024 reaching a record low since its listing, and bottled water revenue plummeting by 21.3%.

Top 10 transaction amounts today.

Hong Kong Stock Connect funds.

In the Hong Kong Stock Connect, today's net inflow into the southbound trading amounted to 8.368 billion Hong Kong dollars.

Institutional Views

• Citi: lowered the Target Price for YIHAI INTL to 15.4 Hong Kong dollars, maintaining the 'Outperform' rating.

Citi published a research report stating that $YIHAI INTL (01579.HK)$ In the second half of last year, revenue rose 2.3% year-on-year, in line with expectations, while net income fell 13% year-on-year, which was worse than expected, and annual sales increased to a growth of 6%. The company's average selling price dropped 9% year-on-year, recording an 18% decline for five consecutive years. However, with new facilities in Hebei, Anhui, and Thailand enhancing production efficiency, the firm believes that the price decline may not necessarily be negative. The firm has raised its forecast for this year's net income by 1.6%, while it has lowered next year's forecast by 5.3%, with the Target Price adjusted from 15.7 Hong Kong dollars to 15.4 Hong Kong dollars, reiterating the rating of 'Outperform'.

• Citi: slightly raised the Target Price for HENGAN INT'L to 22.1 Hong Kong dollars, maintaining a 'Neutral' rating.

Citi published a Research Report stating that $HENGAN INT'L (01044.HK)$Last year's performance was weak, with net profit in the second half of the year falling 44% year-on-year, in line with expectations. The significant decline in profit was mainly due to weak revenue, rising pulp costs, and declining operational leverage. Management aims for flat revenue performance this year, with potential improvements in profit margins, but also acknowledges that the business outlook this year is challenging. Therefore, Citi has lowered its net profit forecasts for HENGAN INT'L for 2025 and 2026 by 12% and 13%, respectively, with the target price slightly raised from HKD 21.1 to HKD 22.1, maintaining a 'Neutral' rating.

• JPMorgan: Raised the target price for WUXI XDC to HKD 46 and updated the sales forecast for 2025 to HKD 33.

JPMorgan published a research report stating that $WUXI XDC (02268.HK)$ Sales and adjusted net profit increased by 91% and 171% year-on-year last year, but management still maintains guidance for sales growth of over 35% year-on-year for the fiscal year 2025. The bank believes this target is somewhat conservative. It stated that due to the high base last year for WUXI XDC, coupled with strong backlog and new orders, the sales forecast for this year was raised by about 20%, and further long-term sales forecasts for 2026 were increased by 23 to 24%. The bank has raised group sales forecasts for 2025 to 2023 by 20 to 24%, and has raised the target price for WUXI XDC by approximately 30% to HKD 46, maintaining a 'Shareholding' rating.

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Editor/danial