According to the Zhītōng finance and economics app, on July 11, the northbound funds had a net purchase of 0.474 billion Hong Kong dollars in the Hong Kong stock market, of which the Hong Kong stock connect (Shanghai) had a net purchase of 0.96 billion Hong Kong dollars, and the Hong Kong stock connect (Shenzhen) had a net sale of 0.486 billion Hong Kong dollars.

The top three stocks with the highest net purchase of the northbound funds are Meituan-W (03690), China Mobile (00941), and Xiaomi Group-W (01810). The top three stocks with the highest net sale of the northbound funds are Tencent (00700), Xpeng-W (09868), and CNOOC (00883).

Active trading stocks for Hong Kong stock connect (Shanghai).

Active trading stocks for Hong Kong stock connect (Shenzhen).

Meituan-W (03690) received a net purchase of 0.296 billion Hong Kong dollars. On the news front, some markets reported that Meituan plans to enter the elevator advertising market. However, Focus Media Information Technology was called multiple times but did not answer the phone. According to reports, Meituan announced on the morning of the 11th that the company plans to recruit elevator media advertising franchisees (video elevator media) in sinking cities. Meituan will provide equipment and business support, while franchisees will be responsible for laying equipment, sales, and advertising production.

China Mobile (00941) and China Telecom (00728) had a net purchase of HKD 144 million and HKD 59.6 million, respectively. On the news front, Zheshang Securities pointed out that the overall business of telecom operators has steadily increased, the growth rate of innovative businesses has increased, the new driving forces continue to grow, and the capital expenditures-to-revenue ratio has decreased, which is conducive to profit release. Citic Securities pointed out that looking ahead to the second quarter of 2024, operators and high-quality state-owned enterprises are expected to continue to grow steadily.

Kuaishou-W (01024) received a net purchase of 75.44 million Hong Kong dollars. On the news front, Kuaishou announced a HKD 6 billion automatic repurchase plan. This repurchase plan is part of the company's previously announced HKD 16 billion three-year repurchase plan. In addition, Citi said that it sees the unique position that Kuaishou has in lower-tier cities and the resilient user average spending time. The transaction volume of e-commerce goods has good growth, and e-commerce advertising revenue is also improving, especially advertising revenue from brand budgets with low penetration rates.

Mainland Chinese banks show slight differentiation, with China Construction Bank Corporation (00939) receiving a net purchase of HKD 72.55 million, while the Industrial and Commercial Bank of China (01398) had a net sale of HKD 33.99 million. On the news front, JPMorgan released a research report saying that the recent policy focus is on stabilizing bank profit margins. The bank said that if banks normalize corporate demand deposit rates to pre-epidemic levels, the upward amplitude of net interest margin could be approximately 12 basis points, which is enough to offset the negative effects of the decline in LPR and the shift towards time deposits.

Semiconductor Manufacturing International Corporation (00981) received a net purchase of HKD 54.26 million. On the news front, Taiwan Semiconductor plans to raise prices. The price increase for 3nm OEMs may be over 5%, and the annual quotes for advanced packaging are also expected to increase by about 10%-20%. According to supply chain interviews, most of TSMC's customers have agreed to raise OEM prices in exchange for reliable supply. Currently, rumors of price increases in the semiconductor industry chain are becoming more and more intense, including manufacturers such as Qualcomm, TSMC, and Hua Hong, and they cover IC design, chip OEM, and other links.

China Res Beer (00291) had a net sale of HKD 0.126 billion. On the news front, Founder Securities pointed out that due to the high base, and the weaker-performance and rainy weather of the dining industry, we expect that the beer industry's Q2 sales volume will be under pressure. The trend of structural upgrading continues, cost improvement is certain, and overall profitability is robust. The bank believes that starting from Q3, the entire sector will enter a low base period, and the sports events and music festivals will accelerate the catalysis on the demand side.

Xpeng-W (09868) closed up by over 11% today, with some northbound funds selling at a high price. A net sale of HKD 0.261 billion was made throughout the day. On the news front, Xpeng announced that since the X9 was officially launched on January 1, it has ranked first in sales for high-end pure electric MPVs for six consecutive months, with a cumulative sales of 13,143 units in the first six months of listing. In addition, the new model, MONA M03, made its global debut recently and is expected to be officially released in August.

Tencent (00700) had a net sale of HKD 0.529 billion. On the news front, according to media reports, Tencent announced an adjustment to its staff compensation and benefits policy, canceling year-end double pay and housing subsidies, and allocating them evenly to monthly salaries to enhance employees' monthly cash flow. The adjustment took effect in early July. Tencent responded that this was to respond to employees' concerns about stable cash flow and to address concerns about income fluctuations after the housing subsidies end.

In addition, Xiaomi Group-W (01810) and China Shenhua Energy (01088) received net purchases of HKD 0.129 billion and HKD 32.59 million, respectively. While CNOOC (00883) and China Resources Power (00836).