On December 23, the southbound funds recorded a net purchase of 2.65 billion Hong Kong dollars in Hong Kong stocks.

Among them, the Shanghai-Hong Kong Stock Connect net purchases amounted to 3.177 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect had net sales of 0.528 billion Hong Kong dollars.

Net Buy of Industrial And Commercial Bank Of China 1.069 billion, Semiconductor Manufacturing International Corporation 0.657 billion, CHINA MOBILE 0.379 billion, TENCENT 0.276 billion, China Construction Bank Corporation 0.23 billion, WEIMOB INC 0.188 billion, XIAOMI-W 0.172 billion, EAST BUY 0.114 billion,

Net sales included 1.222 billion of MEITUAN-W and 0.428 billion of KUAISHOU-W.

According to the Statistics, southbound funds have net purchased WEIMOB INC for two consecutive days, totaling 0.97341 billion Hong Kong dollars; net purchases of TENCENT have continued for two days, totaling 4.084 billion Hong Kong dollars.

There have been net purchases of XIAOMI-W for three consecutive days, totaling 0.97136 billion Hong Kong dollars; net purchases of Jing Tai Holdings for six consecutive days, totaling 1.26662 billion Hong Kong dollars; and net purchases of CHINA MOBILE for nine consecutive days, totaling 4.54141 billion Hong Kong dollars.

Since being included in the Stock Connect for Hong Kong stocks, southbound funds have cumulatively net purchased 81.70928 billion Hong Kong dollars of Alibaba over the 66 trading days.

Northern funds focus on individual stocks.

Industrial And Commercial Bank Of China: CITIC SEC Research Reports believe that after the important meeting in December, the market's speculation on policies has come to a pause. In terms of asset allocation framework for RMB major assets, bank stocks will continue to be a strong direction of certainty. At the end of the year and the beginning of the year, the allocation season for Insurance will enter, and banking varieties with high dividends, low volatility, and stable operations are expected to remain the direction for insurance capital allocation.

Semiconductor Manufacturing International Corporation: CMB International states that the Semiconductors industry chain is self-controllable. The bank is optimistic about the opportunities brought by the self-controllable trend in the Chinese Semiconductors industry chain to increase domestic market share in the long run. The intensification of geopolitical risks drives major economies to shift their primary goal of industry chain development from improving production efficiency to ensuring supply chain security. For China, the self-controllability of Semiconductors will be a long-term trend, bringing huge dividends in market share enhancement for related beneficiaries in the industry chain.

CHINA MOBILE: The Ministry of Industry and Information Technology announced that in the first eleven months of this year, the overall operation status of the Communications - Semiconductors industry was stable. The telecommunication business volume achieved steady growth, with the construction of Network Infrastructure such as 5G, Gigabit Optical Network, and Internet of Things (IoT) being deeply promoted, and the scale of connected users continuously expanded, with mobile Internet access traffic growing rapidly. During this period, telecommunication business revenue totaled 1.59 trillion yuan (same below), an annual increase of 2.6%. Telecommunication business total volume growth calculated at last year's constant price was 10%.

TENCENT: Sensor Tower's store intelligence platform shows that in November 2024, a total of 35 Chinese manufacturers made it to the top 100 global mobile game publishers' revenue list, collectively earning 1.87 billion dollars, accounting for 34.8% of the revenue of the global top 100 mobile game publishers in November. Data shows that TENCENT's "Honor of Kings," "Peacekeeper Elite," and "Dungeon and Fighter: Origins" ranked top three in the Chinese iOS mobile game revenue list for this period.

WEIMOB INC: CICC released a Research Report stating that the target price of WEIMOB INC is raised by 56% to 2.8 Hong Kong dollars, considering the industry's valuation midpoint rising and mid-term growth certainty increasing. The profit forecasts for 2024 and 2025 remain unchanged, maintaining an "outperform the industry" rating. On December 18, WeChat's small store launched a gray-scale test for the "gift giving" function. With the gradual increase in the activity of the WeChat e-commerce ecosystem, WEIMOB is expected to benefit as a leading third-party service provider.

EAST BUY: Minsheng Securities released a Research Report stating that before the arrival of the "holiday season" during Christmas, New Year, and Spring Festival, WeChat's small store gray-tested the "gift giving" function, marking the continuous upgrade of WeChat e-commerce and further opening the market's expectations for TENCENT's commercialization of WeChat. The bank focuses on the valuation uplift cycle of TENCENT in this round, while paying attention to opportunities for related participants in the chain, focusing on the commodity monetization of sellers, such as EAST BUY.