Northbound funds | Northern capital made a net selling of 2.504 billion yuan. Northern capital continues to increase its holdings in the Jian Tao portfolio. In the past three weeks, the total amount bought by both stocks has reached nearly 38 billion Hong Kong dollars.

On June 26th, in the Hong Kong Stock Market, the net selling volume of Beishui was 25.04 billion Hong Kong dollars. Among them, the net buying volume of Hong Kong Stock Connect (Shanghai) was 3.86 billion Hong Kong dollars, and the net selling volume of Hong Kong Stock Connect (Shenzhen) was 60.9 billion Hong Kong dollars. The stocks with the highest net buying volume by Beishui were KB LAMINATES (01888), YOFC (06869), and KNOWLEDGE ATLAS (02513). The stocks with the highest net selling volume by Beishui were BABA-W (09988), Tencent (00700), and Semiconductor Manufacturing International Corporation (00981). Active trading stocks in the Hong Kong Stock Connect (Shanghai) were KB LAMINATES (01888) and KINGBOARD HLDG (00148) with a net buying volume of 23.06 billion and 2.22 billion Hong Kong dollars respectively. The total net buying volume of these two stocks in the past three weeks has approached nearly 38 billion Hong Kong dollars. Citigroup issued a research report stating that the major shareholder of KINGBOARD HLDG reduced their holdings, leading to a decline in stock price and cashed out approximately 8.944 billion Hong Kong dollars. Citigroup believes that despite short-term selling pressure, the company has successfully attracted downstream customers to transfer orders and increase PCB average selling prices to offset costs, thanks to its vertical integration advantage, amid tight supply of copper foil and electronic-grade glass fiber fabric. YOFC (06869) received a net buying volume of 12.41 billion Hong Kong dollars. Yangtze Optical Fibre And Cable Joint Stock announced during the MWC Shanghai 2026 exhibition that its YoFC hollow core fibre has delivered more than 10,000 core kilometers so far, setting records for low attenuation of 0.04dB/km, the longest draw length of 91.2 km, and the longest commercial line of 100 km. It has deployed over 13 commercial and pilot projects domestically and overseas, making it the most widely used hollow core fiber provider globally. KNOWLEDGE ATLAS (02513) received a net buying volume of 4.87 billion Hong Kong dollars. KNOWLEDGE ATLAS launched its latest flagship model GLM-5.2. Huachuang Securities' latest research report pointed out that the launch and open source of GLM-5.2 further validates KNOWLEDGE ATLAS's technical leadership, engineering capability, and ecological expansion in domestic large models. The bank believes that the core value of AI Coding is shifting from assisting in generating to understanding projects, breaking down tasks, continuous debugging, and ultimately delivering, and KNOWLEDGE ATLAS is capturing this change. Hua Hong Grace Semiconductor (01347) received a net buying volume of 2.11 billion Hong Kong dollars, while Semiconductor Manufacturing International Corporation (00981) suffered a net selling volume of 1.61 billion Hong Kong dollars. TSMC has notified customers of a price increase for wafers, covering all advanced processes from 3nm to 7nm and below, with an overall increase of about 5% to 10%. In addition, the acceleration of large model applications is driving explosive demand for upstream chips. The maturity of domestic computing power ecology will directly drive the surge in demand for domestic chip design companies, further accelerating the process of domestic substitution. GigaDevice Semiconductor Inc. (03986) received a net buying volume of 55.77 million Hong Kong dollars. GigaDevice Semiconductor Inc. issued a statement on the abnormal fluctuations in stock trading, stating that the company is currently benefiting from an upturn in the storage chip industry cycle, as a shortage of supply has led to a significant price increase, boosting the company's operating performance. However, the storage industry has shown significant cyclical fluctuations historically, and supply and demand will eventually move towards rebalancing. BABA-W (09988) suffered a net selling volume of 22.69 billion Hong Kong dollars. Alibaba has recently faced multiple negative news. Anthropic has accused Alibaba of illegally extracting the core capabilities of its AI model Claude through large-scale fake accounts. Alibaba has officially filed a lawsuit in the United States requesting the company to be removed from the "Chinese Military Enterprise List". Citigroup stated that this year's 618 shopping festival is likely to be the most low-key and plain one in the past 16 years. In addition, Tencent (00700) suffered a volume of 3.41 billion Hong Kong dollars.