North Water Trends | Beishui's net purchase of 10.997 billion yuan, Beishui continues to raise Smart Spectrum (02513) The cumulative net purchase amount in the past week has exceeded HK$20 billion

The Zhitong Finance App learned that on July 14, in the Hong Kong stock market, Beishui traded a net purchase of HK$10.997 billion. Among them, Hong Kong Stock Connect (Shanghai) had net purchases of HK$8.205 billion and Hong Kong Stock Connect (Shenzhen) had net purchases of HK$2,792 billion.

The individual stocks that Beishui Net bought the most were Zhipu (02513), NetEase (09999), and Kuaishou-W (01024). The most sold individual stock of Beishui Net is Jiantao Laminate (01888).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Smart Spectrum (02513) received another net purchase of HK$2,988 billion. Since July 8 (last Wednesday), the cumulative net purchase amount has exceeded HK$20 billion. Komo released a research report saying that the basic model industry is entering a more capital-intensive stage, and the ability to obtain capital will support a longer model development cycle and infrastructure expansion. Ultimately, however, the return on investment still depends on whether companies can turn resources into increased model capabilities, customer adoption, and annual recurring revenue growth. As far as Smart Spectrum is concerned, demand is currently close to the upper limit of service capacity. The additional computing power resources are expected to be converted into annual recurring revenue growth within 12 months, and the conversion effect of this financing is quite obvious.

NetEase (09999) received a net purchase of HK$2.87 billion. NetEase's “Sea of Oblivion” was officially released for PC on July 9, while the mobile version is scheduled for July 23. Goldman Sachs predicts that “The Sea of Oblivion” will contribute more than 5.8 billion yuan in revenue over the next 12 months, driving double-digit growth in game sales and revenue records in the second half of the year. Furthermore, Haitong International believes that after NetEase is included in Hong Kong Stock Connect, the average daily turnover of NetEase is expected to increase to about 3.4 billion yuan, an increase of about 60%.

Kuaishou-W (01024) received a net purchase of HK$1,459 million. CICC previously pointed out that independent pricing of Keling's AI assets will open up the Group's valuation ceiling; ease the pressure on the Group's capital expenditure and optimize resource allocation; and introduce diversified strategic investors to strengthen industrial collaboration, which will help Keling form stronger ecological collaboration in terms of technology, computing power, and entertainment content. Furthermore, Beijing Keling has simultaneously implemented an employee equity incentive plan, which is expected to further bind the long-term interests of the core team and the company.

GigaYi Innovation (03986) received a net purchase of HK$810 million. Zhaoyi Innovation expects revenue of about 11.5 billion yuan for the first half of the year, an increase of 177% year on year; net profit to mother of about 6.9 billion yuan, a sharp increase of 1099% year on year; deducted non-net profit of about 4.85 billion yuan, an increase of 791% year on year. Furthermore, on July 16, Changxin Technology will launch a subscription. This time, Changxin Technology plans to raise 29.5 billion yuan, making it the second-largest IPO in the history of the Science and Technology Innovation Board and the largest A-share IPO this year. Zhaoyi Innovation said that currently the company's shareholding ratio in Changxin Technology Group Co., Ltd. is 1.8%.

Changfei Optical Fiber Cable (06869) received a net purchase of HK$602 million. Changfei Optical Fiber announced later that net profit for the first half of the year was 2.4 billion to 3 billion yuan, an increase of 711% to 914% over the previous year. Among them, net profit for the second quarter is expected to be 1.905 billion to 2.05 billion yuan, which is expected to increase 284% to 405% month-on-month. The increase in performance is due to the continuous expansion of domestic and international demand for new fiber optic cable products spurred by the accelerated construction of computing power data centers, as well as the continuous improvement of the industry's supply and demand structure.

SMIC (00981) and Huahong Hongli (01347) received net purchases of HK$553 million and HK$34.75 million respectively. According to reports, TSMC plans to raise mature process foundry prices from January 2027, increasing mature process quotes for the first time in more than three years. Furthermore, TSMC's consolidated revenue in June was approximately NT$442.68 billion, up 6.2% month-on-month and 67.9% year-on-year, setting a new record monthly high.

Jiantao Group (00148) received a net purchase of HK$405 million, while Jiantao laminates (01888) received a net sale of HK$272 million. Earlier, it was rumored in the market that Rubin Ultra might be delayed until 2028. On July 11, local time, Morgan Stanley released the minutes of Nvidia's management's non-transactional roadshow. Nvidia CEO Hwang In-hoon denied rumours that Rubin Ultra will be postponed and confirmed that it will be shipped as planned next year. Galaxy Securities believes that the demand for AI chips for high-end PCBs is expected to continue to increase, the price of copper clad panels will continue to rise, and PCB valuations will improve. It is recommended to focus on leading AI PCB-related companies.

Additionally, Tencent (00700) and Alibaba-W (09988) received net purchases of HK$122 million and HK$104 million respectively.