Northbound funds | Northbound trading volume in Beishui amounted to a net purchase of 790 million, with domestic funds additionally increasing their holdings of Montage Technology (06809) by nearly 200 million Hong Kong dollars while selling shares of SMIC and Hua Hong Semiconductor.

On May 12, in the Hong Kong stock market, Northbound funds net bought 790 million Hong Kong dollars. Among them, the Shanghai-Hong Kong Stock Connect had a net buying of 3.407 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect had a net selling of 2.617 billion Hong Kong dollars. The top three stocks with the most net buying from Northbound funds were Montage Technology (06809), DEEPEXI TECH (01384), and BABA-W (09988). The top three stocks with the most net selling from Northbound funds were HUA HONG SEMI (01347), Tencent (00700), and YOFC (06869). Active trading stocks in the Shanghai-Hong Kong Stock Connect included Montage Technology (06809) with a net buying of 190 million Hong Kong dollars. Huatai pointed out that they are optimistic about the increased demand for CPUs/memory bars driven by the accelerated deployment of AgentAI, and that the memory interface chip market is maintaining high business activity. They also mentioned that the company's various new interconnect products are gradually ramping up production, bringing new growth opportunities. DEEPEXI TECH (01384) received a net buying of 68.06 million Hong Kong dollars. Recently, Beijing Centergate Technologies and DEEPEXI TECH cooperated to introduce the first national government service intelligent body- "Feng Xiao Zhi". DEEPEXI TECH's founder, chairman of the board, executive director, and CEO Zhao Jiehui stated that their self-developed DeepClaw enterprise basic intelligent body, injected "Feng Xiao Zhi" with real action and professionalism, promoting government AI from auxiliary tools to substantial digital productivity. BABA-W (09988) received a net buying of 33.58 million Hong Kong dollars. On May 11, Alibaba announced the comprehensive integration of Qianwen with Taobao, marking the first deep integration of a global large-scale e-commerce platform with a top-level large-scale application. Alibaba has taken the lead in linking the AI shopping full chain within the industry, achieving a full closed-loop process from product recommendation to ordering, fulfillment, and after-sales service, a significant step in Alibaba's AI e-commerce. POP MART (09992) received a net buying of 29.72 million Hong Kong dollars. After trading hours, POP MART released its first-quarter performance, with overall revenue growing by 75%-80% year-on-year, and significant growth in revenue in China (100%-105%), the Asia-Pacific region (25%-30%), the Americas (55%-60%), as well as Europe and other regions (60%-65%). Noble Con (02635) experienced a net selling of 41.12 million Hong Kong dollars. Noble Con issued a clarification announcement, stating that they only had general business dealings with Hang Xin Dongfang and were unaware of the events related to them. They confirmed that their past transactions with Hang Xin Dongfang were real and appropriate according to the company's accounting procedures and policies. The board of directors confirmed that the recent fluctuations in the company's stock price were not related to the events. Northbound funds once again sold semiconductor stocks. Semiconductor Manufacturing International Corporation (00981) and HUA HONG SEMI (01347) experienced net selling of 195 million and 659 million Hong Kong dollars, respectively. Semiconductor Manufacturing International Corporation's share issuance for asset purchase transaction was approved on May 11, the largest case in the science and technology innovation board trading scale. The integration and consolidation of the semiconductor industry has begun with this approval, and it is expected to be completed by 2026. In addition, Cig Shanghai (06166) received a net buying of 32.27 million Hong Kong dollars. On the other hand, Tencent (00700), YOFC (06869), and CNOOC (00883) experienced net selling of 5.08 billion, 2.12 billion, and 1.02 billion Hong Kong dollars, respectively.