Beishui Trends | Beishui transaction made a net purchase of 7.517 billion, Beishui added a position of Yingfu Fund (02,800), sold nearly HK$6.2 billion, and sold Ali Tencent throughout the day

The Zhitong Finance App learned that in the Hong Kong stock market on July 22, Beishui traded a net purchase of HK$7,517 billion. Among them, Hong Kong Stock Connect (Shanghai) had a net purchase of HK$3,838 billion and Hong Kong Stock Connect (Shenzhen) had a net purchase of HK$3,679 billion.

The individual stocks that Beishui Net bought the most were Yingfu Fund (02800), Huahong Hongli (01347), and Zhiguo (02513). The individual stocks sold the most by Beishui Net were Tencent (00700), Alibaba-W (09988), and Jiantao Laminate (01888).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Yingfu Fund (02800) received a net purchase of HK$6.182 billion. Galaxy Securities believes that Hong Kong stocks are currently in a phased recovery window, not the starting point of a general rise reversal. From a financial perspective, the Hong Kong stock market has recently shown clear signs of capital return. This is the core driving force behind the strengthening of the market. Resonance between domestic and foreign investors in the technology sector has jointly boosted market sentiment. Overall, foreign capital remains cautious. The inflows are mainly passive and short-term flexible foreign capital, and active long-term global capital has yet to return on a large scale.

Huahong Hongli (01347) received a net purchase of HK$1.24 billion, while SMIC (00981) received a net sale of HK$454 million. According to people familiar with the matter, TSMC has negotiated with customers to increase chip manufacturing prices by up to 10% in 2027 to cope with rising costs. According to reports, TSMC began negotiations on the matter in June and finalized a benchmark price increase of 5% to 10% this month. This price adjustment will take effect next year, and both advanced semiconductors and mature semiconductors are covered.

Smart Spectrum (02513) received a net purchase of HK$362 million. Smart Spectrum AI has built a 1GW domestic AI computing power data center, and all use domestic AI chips. On the same day, Zhipu officially completed the acquisition of xCore Sigma (xCore Sigma), a domestic AI heterogeneous computing power software company, which is regarded by the industry as one of the top AI Infra teams in China. These two actions each complement the two key capabilities of computing power supply and computing power release.

Lanqi Technology (06809) received a net purchase of HK$33.52 million. Citi released a research report saying that Lanqi Technology's H shares have a premium over the company's A shares, reflecting international investors' preference for this scarce AI theme. According to the report, after Lanqi Technology announced its performance forecast and share repurchase plan for the first half of 2026, the bank followed up with the company's management. The bank believes that despite short-term stock price fluctuations, the fundamentals of the company's business are still strong. Thanks to the improvement in the tight supply of substrates, both revenue and profit reached record highs in the second quarter of this year, and the contribution of new products further increased.

GigaYi Innovation (03986) was sold on a net sale of HK$59.37 million. On July 20, China Life Insurance issued an announcement stating that China Life Insurance's eight asset management plans collectively sold about 1.1092 million shares of GigaYi Innovation on July 8. The average sales price of the different asset management plans was 611.46 yuan/share - 624.61 yuan/share, with a cumulative cash out of over 682 million yuan. All transactions were confirmed on the same day.

Changfei Optical Fiber Cable (06869) had a net sale of HK$328 million. Jefferies released a research report saying that although AI and geographical conflicts drive demand for optical fiber, the US supply chain is also facing serious shortages, with the drastic expansion of production in China and the world, the increase in supply will gradually eliminate the shortage. Changfei Optical Fiber Cable may face the risk of losing market share, and profits from 2026 to 2027 may be at a cyclical peak. Jefferies downgraded the rating of Changfei Optical Fiber Cable from “buy” to “hold”, but raised the target price from HK$10.73 to HK$153.74.

Alibaba-W (09988) and Tencent (00700) had net sales of HK$2,759 billion and HK$2,764 billion respectively. Huatai Securities released a research report saying that in hindsight, due to hedging liquidation or half-way through, and short selling capital has begun to accumulate again, considering that A shares and Korean stocks may gradually confirm the bottom since then, and the Hong Kong stock sentiment index is gradually recovering, the capital-driven rebound may be sustainable on a monthly basis, but the core element of the long-term reversal may still be the restoration of fundamentals after the end of the performance period.

In addition, Meituan-W (03690) received a net purchase of HK$257 million, while Jiantao laminate (01888) had a net sale of HK$819 million.