Northbound Trend | Northbound Transactions Reach HK$94.85 Billion; Crystal Technology Holdings (02228) Signs HK$60 Billion Deal, and Northbound Trading Volume Exceeds HK$5 Billion

Zhitong Caijing APP has learned that on August 6th, the Hong Kong stock market saw a northbound transaction of HK$94.85 billion, with Hong Kong Stock Connect (Shanghai) accounting for HK$44.69 billion and Hong Kong Stock Connect (Shenzhen) accounting for HK$50.16 billion.

The most heavily bought stocks by Northbound were Tencent (00700), Alibaba-W (09988), and SMIC (00981). The most heavily sold stock was Xiaomi Corporation-W (01810).

Hong Kong Stock Connect (Shanghai) Active Trading Stocks

Hong Kong Stock Connect (Shenzhen) Active Trading Stocks

Tencent (00700) received a net purchase of HK$15.17 billion. According to the report, Morgan Stanley released a research report stating that "Fearless Covenant" is one of Tencent's most important new releases this year, and the market has been eagerly anticipating it. As of July, the number of pre-registered users has exceeded 50 million. The company expects "Fearless Covenant" to generate revenue of HK$5 billion to HK$6 billion annually. Additionally, industry data shows that Tencent's classic games performed strongly in the second quarter, with "King's Honor" revenue increasing by 13% and "Peace Elite" revenue increasing by 5%, while "Delta Force" achieved a quarterly revenue scale of HK$1 billion. The company expects Tencent's online game revenue to increase by 14% year-on-year in 2025.

Alibaba-W (09988) received a net purchase of HK$8.76 billion. According to the report, on August 6th, Taobao officially launched its new membership system, which connects resources such as Jiajia, Fei and Hema from the Alibabasysytem, including shopping, takeout, travel, and transportation benefits, covering eating, drinking, playing, clothing, housing, and other aspects. The VIP user rights will be fully upgraded, marking a significant business move for Alibaba's transformation into a big consumer platform after its e-commerce business.

SMIC (00981) received a net purchase of HK$6.11 billion. According to the report, SMIC is expected to release its second-quarter results on August 7th. The company previously predicted that this year's second quarter revenue will be difficult to maintain its previous consecutive quarterly growth, and it expects a single-quarter revenue decline of 4% to 6%. Additionally, the company expects its gross profit margin in the second quarter of 2025 to be within the range of 18% to 20%. Furthermore, H20 security risks have raised regulatory concerns, with Shenwan Hongyuan pointing out that SMIC is a core beneficiary of high-end replacement.

Crystal Technology Holdings (02228) received a net purchase of HK$5.32 billion. According to the report, on August 5th, Crystal Tech announced that it has signed an agreement with DoveTree for a pipeline cooperation worth approximately HK$47 billion (US$6.1 billion), and has already received a payment of approximately HK$4 billion (US$510 million). This collaboration set a new record in the AI + robot new drug development field. According to the agreement, Crystal Tech and DoveTree will cooperate on several clinical-stage candidates for small molecule and large molecule innovative drugs, with DoveTree enjoying exclusive global development and commercialization rights.

Ideal Automobile-W (02015) received a net purchase of HK$1.19 billion. According to the report, on August 5th, Ideal Auto announced that it has adjusted the configuration of its i8 model to make it the standard configuration, with the price adjusted from HK$34.98 million to HK$33.98 million. Last night, Ideal Auto CEO Li Xing released a video on Douyin saying that the reason for this adjustment is because they listened to user feedback. He also revealed that there are over 30,000 users who have pre-ordered i8.

Additionally, Kangheng Biological (09926) and BYD Electronics (00285) received net purchases of HK$1.37 billion and HK$84.68 million, respectively. Xiaomi Corporation-W (01810), on the other hand, suffered a net sell-off of HK$2.29 billion.