Beishui Movement | Beishui's net purchase amount is 6.282 billion. Alibaba settles collective lawsuit with the United States, Beishui aggressively raised over 1.7 billion Hong Kong dollars throughout the day

According to the Zhitong Finance and Economics APP, on October 28th, in the Hong Kong stock market, Beishui (Northbound funds) had a net purchase of HKD 6.282 billion. Among them, the net purchase through the Shanghai-Hong Kong Stock Connect was HKD 3.923 billion, and the net purchase through the Shenzhen-Hong Kong Stock Connect was HKD 2.359 billion.

The top stocks with the highest net purchases by Beishui were Alibaba-W (09988), Xiaomi Corporation-W (01810), and LONGi Green Energy Technology (03800). The top stocks with the highest net sales by Beishui were China Mobile (00981), Sunac China Holdings (01918), and CNOOC (00883).

Active trading stocks through the Shanghai-Hong Kong Stock Connect

Active trading stocks through the Shenzhen-Hong Kong Stock Connect

Alibaba-W (09988) received a net purchase of HKD 1.711 billion. In terms of news, Alibaba announced that it has agreed to pay $433.5 million (approximately RMB 3.087 billion) to settle a class action lawsuit filed by investors in the United States. The lawsuit accused Alibaba of monopolistic behavior, but Alibaba denied any wrongdoing and emphasized that the settlement was only to avoid the costs and disruptions of further litigation.

LONGi Green Energy Technology (03800) received a net purchase of HKD 343 million. In terms of news, LONGi Green Energy Technology released a business update for the third quarter of 2024, stating that due to a significant drop in the average market selling price of polysilicon and silicon wafer products, the company's operating performance in the third quarter continued to be low, with a net loss expected to be approximately RMB 2.971 billion for the first three quarters; however, the cash cost during the same period reached a new industry low of only RMB 33.18 per kilogram. Huatai Securities pointed out that considering the mismatch between supply and demand in the silicon material segment, high-energy-consuming and low-efficiency capacity may be restricted, and the company's advantage in granular silicon cost is expected to lead, with capacity utilization rate and market share expected to steadily increase.

Sinobioway Biomedicine (01801) plummeted by over 12%, with Beishui having a net purchase of HKD 319 million throughout the day. In terms of news, Sinobioway Biomedicine announced that Lostrancos subscribed to approximately 12.8083 million Pre-A series preferred shares of its subsidiary Fortvita for $20.5 million. After completion, Lostrancos will hold a 20.39% stake in Fortvita; The company's stake in Fortvita will be diluted from 100% to 79.61%, the latter being the platform for the company's international business drive. Lostrancos will be held by Dr. Yu Dechao, the chairman of the company, at 82.93%, and by the company's executive director Xi Hao and another independent third party at 17.07%. It is worth noting that according to the information previously disclosed by the Hong Kong Stock Exchange, founder, executive director, chairman of the board, and CEO Yu Dechao collectively reduced their holdings in Sinda Biotech by 3.25 million shares on September 30 and October 2, totaling approximately HKD 152 million.

Tencent (00700) received a net purchase of HKD 120 million. In terms of news, Nomura released a report stating that it is expected that Tencent Holdings' total revenue in the third quarter will increase by 8% year-on-year, in line with market forecasts. The third-quarter non-International Financial Reporting Standards (IFRS) net profit is expected to increase by 23% year-on-year, exceeding market expectations by 3%, due to the continuous expansion of gross profit margin. As the revenue mix shifts to high-profit businesses, the gross profit margin in the third quarter may improve by 4 percentage points year-on-year to 53.6%, higher than the market's expectation of 53.4%. The report indicates that Tencent's online game revenue in the third quarter may accelerate to a year-on-year growth of 13%, compared to 9% growth in the second quarter. According to SensorTower data, Tencent's mainland game revenue has regained momentum due to the success of new games like Dungeon & Warriors (DNF) mobile game, especially performing strongly in the summer, with total peak monthly revenue possibly reaching 5 billion RMB.

SMIC (00981) received a net purchase of HKD 98.46 million. In terms of news, it was reported that TSMC's pricing for the 5nm, 4nm, and 3nm process foundry in 2025 has increased by about 4% higher than previously estimated. This includes an increase of about 8%-10% in business orders, including HPC, such as AI. Analysts point out that as the world's largest chip foundry, TSMC's "better-than-expected" price increase may indicate that global demand in the semiconductor industry chain remains very strong.

Shanghai Electric (02727) received a net purchase of HKD 94.44 million. In terms of news, Shanghai Electric recently announced its intention to acquire 100% equity of Ning Sheng Industry from its controlling shareholder Shanghai Electric Group in cash, with a transaction price of 3.082 billion RMB. The core asset under Ning Sheng Industry is Shanghai Fanuc Robotics Co., Ltd. The company stated that the acquisition of Shanghai Fanuc Robotics is to enhance Shanghai Electric's layout in the field of robotics, to build a complete industrial chain from components, controllers to robot bodies, from industrial robots, professional robots to intelligent robots, and to achieve full lifecycle service for equipment.

China General Nuclear Power (01635) received a net purchase of HKD 35.71 million. In terms of news, the Action Plan for Promoting High-Quality Development of Entrepreneurial Investment in Shenzhen was publicly soliciting opinions, proposing to strive to form a trillion-level government investment fund group and a hundred billion-level "20+8" industrial fund group by 2026, "supporting state-owned funds to boldly try and play the leverage amplification role of fiscal funds well". It is reported that China General Nuclear Power's venture capital business is mainly divided into two categories: investing in venture capital enterprises and direct investments. The company has stakes in three venture capital platforms, namely Shenzhen Innovation Investment Group Co., Ltd., Shanghai Huacan Equity Investment Fund Partnership (Limited Partnership), and Shanghai Xingye Entrepreneurship Investment Co., Ltd. Among them, the company holds a 13.93% stake in Shenzhen Innovation Investment CNOOC (00883) faced a net selling of HKD 91.03 million. On the news front, the Israeli Defense Forces launched a sustained attack on Iran in recent days, targeting air defense facilities, missile factories, unmanned aerial vehicle research and production facilities, missile launch bases, etc. This attack avoided oil facilities, which will exert certain pressure on international oil prices. Currently, Citigroup has lowered its forecast for Brent crude oil prices as the risk premium driven by Middle East geopolitical risks gradually diminishes. It is worth noting that CNOOC released its performance after hours, with a net profit of RMB 116.66 billion in the first three quarters, a year-on-year increase of 19.5%.

In addition, Xiaomi Corporation-W (01810) saw a net buying of HKD 662 million. Meanwhile, China Mobile (00941) and Sunac China (01918) faced net selling of HKD 582 million and HKD 191 million respectively