Afternoon review of Hong Kong stock market

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Hong Kong Market Quick Look | Hong Kong stocks were strong all day! The Hang Seng Index firmly held above the 19,000 mark, with the Tech Index rising over 3%; Tencent Related stocks surged, with Weimeng up over 26% and Youzan up over 8%.

Futu News · Jan 14 16:26

富途资讯1月14日消息，港股三大指数齐涨，恒指涨1.83%，科指涨3.08%，国指涨2.10%。

截至收盘，港股上涨1357只，下跌610只，收平1136只。

具体行业表现如下图：

板块方面，

科网股普涨，京东集团-SW涨5.35%，美团-W涨5.02%，快手-W涨4.90%，小米集团-W涨2.90%，腾讯控股涨2.46%，阿里巴巴-W涨2.37%，百度集团-SW涨2.17%，网易-S涨0.13%。

腾讯概念股普遍走强，微盟集团涨逾26%，有赞涨逾8%，同程旅行涨逾4%。

内房股全线反弹，截至发稿，远洋集团涨8.26%；世茂集团涨8.24%；越秀地产涨4.65%；融创中国涨3.36%；万科企业涨2.90%。

半导体股集体上扬，截至发稿，中芯国际涨2.18%；晶门半导体涨4.40%；华虹半导体涨3.71%；上海复旦涨4.72%。

航空股集体走强，截至发稿，东方航空涨14.96%；南方航空涨11.36%；中国国航涨10.13%；美兰空港涨4.59%。

证券及经纪股齐涨，招商证券涨7.69%，国联证券涨6.07%，申万宏源涨5.83%，中国银河涨5.43%，中信建投证券涨5.43%，华泰证券涨4.84%，广发证券涨4.81%，中金公司涨4.43%。

光伏太阳能股走强，福莱特玻璃涨5.57%，福耀玻璃涨5.06%，信义光能涨3.59%，协鑫科技涨2.80%，信义能源涨2.78%，新特能源涨2.45%，信义玻璃涨1.02%，协合新能源收平。

汽车股表现亮眼，零跑汽车涨13.00%，小鹏汽车-W涨8.47%，雅迪控股涨5.43%，长城汽车涨4.39%，理想汽车-W涨3.34%，比亚迪股份涨3.13%，吉利汽车涨2.80%，蔚来-SW跌1.37%。

生物技术股走强，百济神州涨7.69%，巨子生物涨6.05%，药明生物涨4.14%，药明康德涨4.13%，康方生物涨2.35%，药明合联涨1.90%，云顶新耀-B涨1.39%，晶泰控股-P涨0.67%。

苹果概念股普涨，高伟电子涨4.79%，丘钛科技涨3.77%，舜宇光学科技涨3.69%，比亚迪电子涨3.62%，富智康集团涨2.53%，东江集团控股涨2.44%，瑞声科技涨1.83%，伟仕佳杰涨1.06%。

个股方面，

$微盟集团 (02013.HK)$涨超26%，公司正式推出“微盟X微信小店”五大解决方案。

$零跑汽车 (09863.HK)$盈喜升13%，预计年度营业收入同比增长不低于80%，四季度实现净利转正。

$小鹏汽车-W (09868.HK)$涨超8%，公司汽车四季度毛利环比提升，Mona MO3规模效益改善。

$百济神州 (06160.HK)$升逾7%，预计今年将实现经营利润为正。

$中兴通讯 (00763.HK)$涨超6%，ASIC芯片有望突破，高盛看好公司增长潜力。

$京东集团-SW (09618.HK)$涨超5%，25年以旧换新相关政策可减轻市场对公司收入增长忧虑。

$美团-W (03690.HK)$涨超5%，3D生成大模型公司影眸科技完成A轮投资，美团龙珠等领投。

$快手-W (01024.HK)$盘中涨近5%，据报公司商业化及电商事业部架构进行调整。

$招商银行 (03968.HK)$涨超4%，平安资管持股比例已达5%，公司对需求刺激及市场情绪较敏感。

$中海油田服务 (02883.HK)$涨超3%，原油供需趋紧油价快速上行，钻井日费具有较大的提升空间。

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121.84亿港元。

机构观点

花旗：重申腾讯控股“买入”评级，目标价降至563港元

花旗发布研报称， $腾讯控股 (00700.HK)$将于3月19日公布2024年第4季业绩，而对腾讯去年第4季收入的一致预测已降至更接近该行调整前同比增长8.5%的预期。该行重申对腾讯的“买入”评级、首选及核心持股地位。但目标价由573港元降至563港元。

花旗表示，保守地调低集团金融科技及企业服务的营业额预测，并提高其营业成本和运营费用的假设，现模拟2024年第4季的总营业额同比分别增7.3%，及经调整营业利润及净利润同比增分别16%/25%。

高盛：维持中兴通讯“中性”评级，目标价升至28.8港元

高盛发布研报称，维持$中兴通讯 (00763.HK)$“中性”评级，目标价由25.2港元升14.3%至28.8港元。该行表示，虽看好中兴通讯在非电讯领域的增长潜力，但随着进入5G投资周期的中后期，见到中国电讯公司资本支出放缓的短期不利因素。

该行表示，对中兴通讯在多元化新业务和持续技术发展支持下的增长潜力持乐观态度。因此，上调集团2025-2026年盈测分别0.5%/2.5%/2.1%，同时将中兴通讯2025-2026年的收入亦上调分别0.9%/1.6%/2.3%。

大和：上调农夫山泉评级至“买入”评级，目标价升至40港元

大和发布研报称，对$农夫山泉 (09633.HK)$评级由“持有”上调至“买入”，对其2024至2026年每股盈利预测上调4%至8%，目标价由29港元升至40港元。展望今年，该行估计公司收入增长将重新加速，利润率也将回升，进而推动公司估值重评。

报告中称，根据渠道调查，农夫山泉的茶饮业务在去年下半年增长持续强劲，主要受惠于其900毫升的东方树叶产品。该行预计公司去年下半年总收入同比增长5%，其中茶类产品同比增长33%。该行估计茶饮业务在去年下半年贡献公司收入42%，及50%至60%的经营利润。

编辑/ping

On January 14, Futu News reported that the three major Hong Kong stock indices rose, with the Hang Seng Index increasing by 1.83%, the Tech Index by 3.08%, and the National Index by 2.10%.

As of the market close, 1,357 Hong Kong stocks rose, 610 fell, and 1,136 remained unchanged.

The specific industry performance is shown in the following figure:

In terms of sectors, aviation companies saw a faster recovery in domestic supply and demand for domestic flights in August, with passenger traffic reaching the highest monthly level this year. Relaxing access may optimize the route structure. Looking ahead to the fourth quarter, the landing of vaccines during the year is a high-probability event. As domestic aviation demand continues to recover, aviation companies will continue to reduce losses. The favorable oil prices and exchange rates will provide advantages, and the aviation sector will also usher in both valuation and profit restoration. I recommend investors to actively allocate related stocks in the Hong Kong stock market, such as Meilan Airport (00357), Air China Limited and other related symbols.

Network Technology stocks rose across the board, with JD-SW up by 5.35%, MEITUAN-W by 5.02%, KUAISHOU-W by 4.90%, XIAOMI-W by 2.90%, TENCENT by 2.46%, Alibaba-W by 2.37%, Baidu Group-SW by 2.17%, and NTES-S by 0.13%.

Tencent related stocks generally strengthened, WEIMOB INC rose by over 26%, Yozan rose by over 8%, and TONGCHENGTRAVEL rose by over 4%.

Mainland Real Estate stocks all rebounded, with SINO-OCEAN GP up by 8.26%; SHIMAO GROUP by 8.24%; YUEXIU PROPERTY by 4.65%; SUNAC by 3.36%; and CHINA VANKE by 2.90%.

Semiconductor stocks collectively rose, with Semiconductor Manufacturing International Corporation up by 2.18%; SOLOMON SYSTECH by 4.40%; HUA HONG SEMI by 3.71%; and SHANGHAI FUDAN by 4.72%.

Aviation/airlines Industry stocks collectively strengthened, with China Eastern Airlines up by 14.96%; China Southern Airlines by 11.36%; Air China Limited by 10.13%; and MEILAN AIRPORT by 4.59%.

The Securities and Brokerage stocks all rose, with China Merchants up 7.69%, Guolian Securities up 6.07%, SWHY up 5.83%, China Galaxy up 5.43%, CSC up 5.43%, HTSC up 4.84%, GF SEC up 4.81%, and China International Capital Corporation up 4.43%.

Photovoltaic Power stocks strengthened, with FLAT GLASS up 5.57%, FUYAO GLASS up 5.06%, XINYI SOLAR up 3.59%, GCL TECH up 2.80%, XINYI ENERGY up 2.78%, XINTE ENERGY up 2.45%, XINYI GLASS up 1.02%, and CONCORD NE unchanged.

The Autos stocks performed well, with LEAPMOTOR up 13.00%, XIAOMI-W up 8.47%, YADEA up 5.43%, Great Wall Motor up 4.39%, LI AUTO-W up 3.34%, BYD up 3.13%, Geely Auto up 2.80%, and NIO-SW down 1.37%.

Biotechnology stocks strengthened, with BEIGENE up 7.69%, Huizhi Biotech up 6.05%, WUXI BIO up 4.14%, WUXI APPTEC up 4.13%, AKESO up 2.35%, WUXI XDC up 1.90%, EVEREST MED-B up 1.39%, and Crystal Tech Holdings-P up 0.67%.

Apple Supplier stocks generally rose, with COWELL up 4.79%, Q TECH up 3.77%, SUNNY OPTICAL up 3.69%, BYD Electronic up 3.62%, FIH up 2.53%, TK GROUP HLDG up 2.44%, AAC TECH up 1.83%, and VSTECS up 1.06%.

In terms of individual stocks,

$WEIMOB INC (02013.HK)$Increased by over 26%, the company officially launched five major solutions for 'Weimob X WeChat Small Store'.

$LEAPMOTOR (09863.HK)$The profit forecast has increased by 13%, expecting the annual revenue to grow by no less than 80% year-on-year, with a return to net profit in the fourth quarter.

$XPENG-W (09868.HK)$Increased by over 8%, with the company's automotive gross profit improving quarter-on-quarter in the fourth quarter, and the scale efficiency of the Mona MO3 improving.

$BEIGENE (06160.HK)$Increased by over 7%, expecting to achieve positive operating profit this year.

$ZTE (00763.HK)$Increased by over 6%, ASIC chips are expected to break through, and Goldman Sachs is bullish on the company's growth potential.

$JD-SW (09618.HK)$Rising over 5%, the 2025 replacement policy can alleviate market concerns about the company's revenue growth.

$MEITUAN-W (03690.HK)$Rising over 5%, 3D generative model company Shadow Eye Technology has completed Series A funding, led by Meituan Longzhu and others.

$KUAISHOU-W (01024.HK)$During the session, rising nearly 5%, reports indicate that the company's commercialization and e-commerce division structure is being adjusted.

$CM BANK (03968.HK)$Rising over 4%, Ping An Asset Management's stake has reached 5%, and the company is sensitive to demand stimulation and market sentiment.

$CHINA OILFIELD (02883.HK)$Surging over 3%, the tightening supply and demand for Crude Oil Product has led to a rapid rise in oil prices, and there is significant potential for an increase in drilling day rates.

Today's transaction volume TOP10

Hong Kong Stock Connect funds

Regarding Stock Connect, there was a net inflow of 12.184 billion HKD in the northbound Stock Connect today.

Institutional perspective

Citigroup: Reiterates a 'Buy' rating for TENCENT, with the target price lowered to 563 HKD.

Citigroup released a research report stating that $TENCENT (00700.HK)$The performance for the fourth quarter of 2024 will be announced on March 19, while the consensus forecast for TENCENT's revenue in the last quarter has been adjusted to more closely align with the bank's pre-adjusted year-on-year growth expectation of 8.5%. The bank reiterated its "Buy" rating for TENCENT, preferred and core holding status. However, the target price has been lowered from 573 HKD to 563 HKD.

Citigroup stated that it conservatively lowered the group's financial technology and corporate services revenue forecast, while increasing its assumptions for cost of goods sold and operating expenses, now simulating a year-on-year growth of 7.3% for total revenue in Q4 2024, and adjusted operating profit and Net income growing year-on-year by 16% and 25% respectively.

Goldman Sachs: Maintains ZTE's "Neutral" rating, target price raised to 28.8 HKD.

Goldman Sachs released a research report stating that it maintains.$ZTE (00763.HK)$The "Neutral" rating is maintained, with the target price raised by 14.3% from 25.2 HKD to 28.8 HKD. The bank stated that while it is optimistic about ZTE's growth potential in non-telecom sectors, it has observed short-term adverse factors due to a slowdown in capital expenditures by Chinese telecom companies as they enter the later stages of the 5G investment cycle.

The firm expressed optimism regarding ZTE's growth potential supported by diversified new Business and sustained technological development. Therefore, it adjusted the group's earnings estimates for 2025-2026 upwards by 0.5%/2.5%/2.1%, and also raised ZTE's revenue estimates for 2025-2026 by 0.9%/1.6%/2.3%.

Daiwa: Upgrades NONGFU SPRING to a "Buy" rating, with a target price raised to HKD 40.

Daiwa released a research report stating that$NONGFU SPRING (09633.HK)$the rating was upgraded from "Hold" to "Buy", with earnings per share estimates for 2024 to 2026 raised by 4% to 8%, and the target price increased from HKD 29 to HKD 40. Looking ahead to this year, the bank estimates that the company's revenue growth will re-accelerate, and profit margins will also recover, leading to a reevaluation of the Company Valuation.

The report states that according to channel surveys, NONGFU SPRING's tea beverage business experienced strong growth in the second half of last year, mainly benefiting from its 900 ml Dongfang Shuye product. The bank expects the company's total revenue in the second half of last year to grow by 5% year-on-year, with tea products growing by 33% year-on-year. The bank estimates that the tea beverage business contributed 42% of the company's revenue in the second half of last year and 50% to 60% of the operating profit.

Editor/ping

The translation is provided by third-party software.

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