Northbound funds | Northbound trading net bought 2.309 billion, Northbound investors continue to increase their holdings of technology stocks. Sold over 1.3 billion Xiaomi shares throughout the day.

In the Hong Kong stock market on April 17th, Beishui had a net purchase of 2.309 billion Hong Kong dollars. Among them, the net purchases through the Shanghai-Hong Kong Stock Connect were 0.508 billion Hong Kong dollars, and the net purchases through the Shenzhen-Hong Kong Stock Connect were 1.801 billion Hong Kong dollars. The stocks with the highest net purchases by Beishui were BABA-W (09988), Tencent (00700), and MEITUAN-W (03690). The stocks with the highest net sales by Beishui were TRACKER FUND OF HONG KONG (02800), XIAOMI-W (01810), and CNOOC (00883). Active turnover stocks through the Shanghai-Hong Kong Stock Connect Active turnover stocks through the Shenzhen-Hong Kong Stock Connect Beishui continued to increase its holdings in internet-related stocks, with BABA-W (09988), Tencent (00700), and MEITUAN-W (03690) receiving net purchases of 0.835 billion, 0.782 billion, and 0.737 billion Hong Kong dollars respectively. In terms of news, a research report from JPMorgan stated that aside from cross-border e-commerce businesses, the expected impact of the escalation of the US trade war on the revenues of Chinese internet companies is mostly indirect, whereby weak exports will lead to weak consumption, affecting advertising demand. The estimated impact of the tariff dispute on online consumption is predicted to be less than 0.5%. HSBC released a research report stating that the volatility of the Chinese internet industry under trade tension is high, but the direct impact of tariff policies is limited. GIANT BIOGENE (02367) received a net purchase of 0.416 billion Hong Kong dollars. According to news, GIANT BIOGENE announced a plan to issue approximately 9.50% of new shares at a discount, raising net proceeds of approximately 2.294 billion Hong Kong dollars. The funds will be used for the development of core businesses, ecosystem layout including brand promotion, marketing, category expansion, international operations, research and development, as well as for general corporate purposes. Citigroup released a research report stating that due to the significant discount, the stock price of GIANT BIOGENE is expected to be under pressure in the short term. Nevertheless, the company's profit prospects remain robust. POP MART (09992) received a net purchase of 0.227 billion Hong Kong dollars. According to news, on April 14th, the founder and CEO of POP MART, Wang Ning, announced a comprehensive global organizational restructuring with immediate effect in order to further advance the group's globalization strategy. The core of this organizational restructuring is to focus on regional strategies, with POP MART establishing regional headquarters in Greater China, the Americas, Asia-Pacific, and Europe to adapt better to and grasp the characteristics and demands of different markets. Bank of America released a research report stating that the impact of the tariff war on POP MART is limited, as the company has strong pricing power, defensive capability against economic recession, global production relocation and diversified supply chain, as well as a global strategy. Beishui re-entered chip stocks. HUA HONG SEMI (01347) and Semiconductor Manufacturing International Corporation (00981) received net purchases of 0.197 billion and 6.15 million Hong Kong dollars respectively. According to news, the China Semiconductor Industry Association recently issued an urgent notice on the rules for the "origin" determination of semiconductor products, specifying that the origin of integrated circuits will be based on the location of wafer production, that is, the origin will be the location of the manufacturing factory rather than where the chip is packaged. Zhongjin pointed out that from the perspective of the importation of American goods to China, the overall tariff policy is favorable for accelerating the localization of semiconductor chips, as the Chinese market has sufficient space to absorb products from local design enterprises. Chifeng Jilong Gold Mining (06693) received a net purchase of 0.182 billion Hong Kong dollars. According to news, on April 17th, spot gold broke through $3350 per ounce, continuing to refresh historical highs. According to recent announcements by the Shanghai Stock Exchange and the Shenzhen Stock Exchange, Chifeng Jilong Gold Mining will be included in the list of stocks eligible for the Hong Kong Stock Connect, with the adjustment taking effect from April 7th. Guosen pointed out that considering the company's firm pace of international development, gold production is expected to continue to grow, there is room for a decrease in production costs, and the company has a high profit elasticity for gold prices. XIAOMI-W (01810) faced a net sale of 1.342 billion Hong Kong dollars. According to news, on March 25th, Xiaomi announced a placement of 800 million shares using the priority allocation to existing shareholders strategy, raising 42.5 billion Hong Kong dollars, marking its second equity raising measure since listing on the Hong Kong stock exchange. On April 14th, Xiaomi Corporation's subsidiary Xiaomi Communications updated the status of its 20 billion yuan corporate bond project to "submitted for registration". As a result, Xiaomi has put forward a refinancing plan totaling nearly 60 billion yuan within a month. In addition, it was reported by the media that Xiaomi's originally scheduled Investor Day for 2025 in late April has been postponed to June 3rd. Furthermore, China Mobile Limited (00941) received a net purchase of 27.34 million Hong Kong dollars. While CNOOC (00883) and TRACKER FUND OF HONG KONG (02800) experienced net sales of 70.29 million and 1.4 billion Hong Kong dollars respectively.