North Water Trends | Beishui Transactions Net Sales of 8.571 billion, Agencies Expect Tencent (00700) Capital Expenses to Moderate, and Beishui to Increase Tencent's Positions by Over HK$1 Billion Throughout the Day

The Zhitong Finance App learned that in the Hong Kong stock market on July 30, Beishui traded net sales of HK$8.571 billion. Among them, Hong Kong Stock Connect (Shanghai) had net sales of HK$3.494 billion and Hong Kong Stock Connect (Shenzhen) had net sales of HK$5,077 billion.

The individual stocks that Beishui Net bought the most were Tencent (00700), Zhaoyi Innovation (03986), and CNOOC (00883). The individual stocks sold the most by Beishui Net were Yingfu Fund (02800), SMIC (00981), and Alibaba-W (09988).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Tencent (00700) received a net purchase of HK$1,012 million. Bank of China International released a research report saying that investors are increasingly paying attention to Tencent's earnings per share forecast and AI investment returns. The bank predicts that Tencent's capital and cash expenditure will reach RMB 160 to 180 billion yuan in 2026, but believes that Tencent will maintain a prudent pace of investment to maintain business flexibility. The bank said that it is still too early to talk about capital expenditure levels after 2027, and it is expected that after 2027, Tencent will adopt a capital expenditure plan that will increase moderately compared to this year.

GigaYi Innovation (03986) received a net purchase of HK$380 million. According to the Zhaoyi Innovation announcement, it plans to repurchase A-shares, with a total repurchase capital of not less than 1 billion yuan and no more than 2 billion yuan. The repurchased shares will all be used to cancel and reduce the registered capital. Furthermore, the actual controller Zhu Yiming plans to increase the company's shares by no less than 1 billion yuan. Zhu Yiming also promised not to reduce his holdings for 12 months from July 29, 2026.

CNOOC (00883) received a net purchase of HK$331 million. The US-Iran conflict has once again escalated, and there are signs of spreading to neighboring regions. According to the latest EIA data, commercial crude oil inventories plummeted by 7.2 million barrels last week, and SPR decreased by 3.8 million barrels to 307.7 million barrels during the same period, the lowest level in more than 40 years. Everbright Securities released a research report saying that the “three barrels of oil” performance is expected to fully benefit from rising oil prices.

Smart Spectrum (02513) received a net purchase of HK$68.63 million. Recently, Hugging Face revealed a cybersecurity incident initiated by an independent AI agent. During the investigation of the incident, its security team finally chose to deploy the open source model GLM-5.2 locally to complete the attack forensic analysis without using the commercial model API. On the evening of July 23, Zhisu said in an official Weibo post that this incident is even more convinced of the value of GLM 5.2 open source.

Changfei Optical Fiber Cable (06869) had a net sale of HK$431 million. Corning's second-quarter results slightly exceeded expectations, but at one point, the stock price plummeted by more than 20%. The analysis points out that Corning's net profit margin has jumped significantly, confirming that AI data center fiber has moved from being driven by scale to being driven by high added value. However, the company's implied month-on-month growth rate declined in the third quarter, and plans to drastically increase the production capacity of optical fibers and optical connections, indicating that global supply bottlenecks are being actively broken.

Yingfu Fund (02800) had a net sale of HK$1,972 billion. Everbright Securities believes that the current market's response to negative factors is sufficient, such as the ongoing escalation of the US-Iran geopolitical conflict and the pressure to absorb the AI sector's valuation, etc., but the overall fundamentals of the domestic economy are still weak. The intensity of China's economic recovery and the sustainability of corporate profits still need more data verification, and the market lacks the most critical driving force to drive trending markets. Currently, the Hong Kong stock market, especially the Hang Seng Technology Index, is in a complicated phase of bottoming out.

Additionally, Huahong Hongli (01347), Alibaba-W (09988), and SMIC (00981) received net sales of HK$12.41 million, $1,121 billion, and HK$1,279 billion respectively.