Northbound funds | "Beishui net purchase of 5.166 billion chip stocks clearly differentiated Beishui sold Xiaopeng (09868) over 1.3 billion Hong Kong dollars at a high price"

In the Hong Kong stock market on August 22, Beishui had a net purchase of 5.166 billion Hong Kong dollars, of which net purchases through the Shanghai-Hong Kong Stock Connect were 0.591 billion Hong Kong dollars, and net purchases through the Shenzhen-Hong Kong Stock Connect were 4.574 billion Hong Kong dollars. The stocks with the most net purchases by Beishui were KUAISHOU-W(01024), Semiconductor Manufacturing International Corporation(00981), MEITUAN-W(03690). The stocks with the most net sales by Beishui were XPENG-W(09868), XIAOMI-W(01810), HUA HONG SEMI(01347). Active trading stocks through the Shanghai-Hong Kong Stock Connect Active trading stocks through the Shenzhen-Hong Kong Stock Connect KUAISHOU-W(01024) had a net purchase of 1.172 billion Hong Kong dollars. In terms of news, Kuaishou released its performance, with a total revenue of 35.05 billion yuan in the second quarter, a year-on-year increase of 13.1%; adjusted net profit of 5.62 billion yuan, a year-on-year increase of 20.1%, announcing a first special dividend of 0.46 Hong Kong dollars per share, with a total amount of about 2 billion Hong Kong dollars. In addition, Macquarie stated that Kuaishou AI had revenue of over 250 million yuan in the second quarter, and in May upgraded with the launch of the Kua 2.1 model series, believing that it will further solidify Kuaishou's leadership in the video big model field. Chip stocks showed differentiation, with Semiconductor Manufacturing International Corporation(00981) and ZTE Corporation(00763) having net purchases of 1.092 billion and 0.316 billion Hong Kong dollars, respectively, while HUA HONG SEMI(01347) saw net sales of 0.75 billion Hong Kong dollars. On the news side, on August 21, DeepSeek updated the model version to DeepSeek-V3.1, using the UE8M0 FP8 Scale parameters accuracy, and stated that UE8M0 FP8 is designed for the upcoming next-generation domestic chips. Guosen Securities believes that DeepSeek's design of the UE8M0 FP8 Scale parameter accuracy for the next generation of domestic chips is expected to promote the autonomy of domestic computing power. MEITUAN-W(03690) had a net purchase of 1.008 billion Hong Kong dollars. In terms of news, Meituan's international food delivery brand Keeta was officially launched in Doha, the capital of Qatar in the Middle East. This is another important breakthrough for Meituan's international business in the Middle East market after Saudi Arabia. It is reported that internationalization is one of Meituan's long-term development strategies. In the future, Keeta will further expand to more markets in the Middle East and plan to officially enter Brazil in a few months. TENCENT(00700) had a net purchase of 0.461 billion Hong Kong dollars. In terms of news, Caitong pointed out that in the second quarter, Tencent's domestic game revenue increased by 17% year-on-year to 40.4 billion yuan, benefiting from the income contributions of mature games such as "Delta Force" released in September last year, as well as "Honor of Kings," "Peace Elite," and other enduring games; overseas game revenue increased by 35% year-on-year to 18.8 billion yuan, benefiting from the income contributions of games under Supercell, "PUBG MOBILE," and the new game "Dune: Awakening." In addition, Tencent's mobile game "Peace Elite" topped the iPhone app download list on its debut, with iOS revenue of 1 million USD on the first day. XPENG-W(09868) surged 13% today, with some Beishui funds selling at the high, resulting in a net sell amount of 1.308 billion Hong Kong dollars for the whole day. In terms of news, Xiaopeng Motors announced that on August 20-21, company co-founder, executive director, chairman, CEO and controlling shareholder He Xiaopeng purchased 3.1 million shares of Class A ordinary shares through Galaxy Dynasty Limited, fully owned by him, at an average price of 80.49 Hong Kong dollars per share, with a total cost of about 250 million Hong Kong dollars. After this purchase, He Xiaopeng and his affiliates collectively own about 18.9% of the company's shares. This is He Xiaopeng's re-purchase of company shares after a year. In addition, BABA-W(09988) had a net purchase of 0.385 billion Hong Kong dollars, while XIAOMI-W(01810) saw a net sale of 0.902 billion Hong Kong dollars.