Northbound funds | Northbound trading net buying 7.512 billion, Alibaba (09988) rumored to be Apple's Chinese AI partner, domestic funds rush to subscribe to Alibaba over 3 billion Hong Kong dollars.

In the Hong Kong stock market on February 12, Beishui had a net buying of 7.512 billion Hong Kong dollars, with a net buying of 5.919 billion Hong Kong dollars through the Shanghai-Hong Kong Stock Connect and 1.592 billion Hong Kong dollars through the Shenzhen-Hong Kong Stock Connect. The stocks with the most net buying by Beishui were BABA-W (09988), MEITUAN-W (03690), and Semiconductor Manufacturing International Corporation (00981). The stock with the most net selling by Beishui was Tencent (00700). Active trading stocks through the Shanghai-Hong Kong Stock Connect Active trading stocks through the Shenzhen-Hong Kong Stock Connect BABA-W (09988) received a net buying of 3.043 billion Hong Kong dollars. In terms of news, Apple and Alibaba are reportedly cooperating to develop AI functions for Chinese iPhone users. Insiders revealed to the media that this move is one of Apple's strategies to address declining sales in China, aiming to provide more attractive software features. It is reported that Alibaba had just released its latest Qwen 2.5 Max model. CITIC SEC believes that the enhancement of model capabilities and the reduction of deployment costs are expected to drive rapid growth in C-end and B-end demand, and in the medium to long term, will become a catalyst for accelerated performance of Alibaba Cloud. MEITUAN-W (03690) received a net buying of 1.382 billion Hong Kong dollars. In terms of news, JD.com announced that JD.com's takeaway service has officially started recruiting quality dine-in and catering businesses, and businesses that join before May this year will be exempt from commissions for the whole year. Citigroup said that JD.com's entry into the food delivery business will bring some pressure on Meituan's food delivery revenue and unit economics in the short term, but given the order volume and transaction conversion rate, businesses are still likely to rely on the Meituan platform. Semiconductor Manufacturing International Corporation (00981) received a net buying of 834 million Hong Kong dollars. In terms of news, Credit Suisse pointed out that Semiconductor Manufacturing International Corporation's revenue for the previous quarter reached the upper limit of its previously guided target, and gross margin also exceeded expectations. The company expects revenue in the first quarter of 2025 to increase by 6%-8% compared to the previous quarter, far exceeding the market's previous expectation of a 3.4% decline. In addition, its gross margin guidance target is also higher than market expectations. Semiconductor Manufacturing International Corporation also expects that the company's revenue growth rate in 2025 will be higher than the industry average, and capital expenditures are expected to remain largely flat with 73.3 billion US dollars in 2024. BYD ELECTRONIC (00285) received a net buying of 538 million Hong Kong dollars. In terms of news, CMSC released a research report stating that BYD Company Limited has launched the self-developed Tianshen's Eye advanced intelligent driving system, officially announcing that it will be installed on all models, exceeding expectations in popularity. The bank pointed out that as the core supplier of the parent company's automotive intelligence strategy, BYD ELECTRONIC will take over the main supply share of the parent company's intelligent driving domain control. Combined with the company's earlier layout in intelligent cabins, heat management, and active suspensions, the company's per-vehicle value is expected to increase significantly to nearly ten thousand yuan, while the parent company's automotive sales are expected to continue to maintain rapid growth momentum, and the company's automotive electronics business has promising long-term performance growth space elasticity. GEELY AUTO (00175) received a net buying of 422 million Hong Kong dollars. In terms of news, following the deep integration of the Geely Xingrui large model with DeepSeek, LI Shufu, CEO of Geely Auto Group, recently announced at an internal meeting that a major AI intelligent strategy will be publicly released in early March this year, where Geely will become a leader in intelligent automotive AI technology, bringing disruptive intelligent experiences to users. During the 2025 CES exhibition, Geely released the industry's first intelligent automotive comprehensive AI technology system. This year, Geely will fully embrace AI and strive to become a promoter of AI technology in intelligent automobiles. SUNAC (01918) received a net buying of 72.22 million Hong Kong dollars. In terms of news, SUNAC announced that in January 2025, the group achieved contract sales of approximately 6.84 billion renminbi, an increase of 81.9% year-on-year; the contract sales area was approximately 112,000 square meters, and the average contract sales price was approximately 61,070 renminbi per square meter. It is worth mentioning that at the end of last month, SUNAC announced that the Beijing Rongchuang One project had completed debt restructuring. In addition, Industrial and Commercial Bank of China (01398), China Mobile Limited (00941), and HUA HONG SEMI (01347) received net buying of 687 million, 435 million, and 164 million Hong Kong dollars, respectively. Tencent (00700) suffered a net selling of 1.148 billion Hong Kong dollars.