Core Insights - The top three companies by Hong Kong Stock Connect shareholding ratios are China Telecom (72.65%), Da Zhong Gong Yong (70.66%), and Green Power Environmental (69.50%) [1][2] - Alibaba-W, Xiaomi Group-W, and Tencent Holdings saw the largest increases in shareholding amounts over the last five trading days, with increases of 4.412 billion, 3.153 billion, and 1.752 billion respectively [1][2] - WuXi Biologics, Crystal International, and Ganfeng Lithium experienced the largest decreases in shareholding amounts over the last five trading days, with decreases of 547 million, 503 million, and 300 million respectively [1][3] Shareholding Ratios - The latest shareholding ratios for the top 20 companies in Hong Kong Stock Connect are led by: - China Telecom (100.83 billion shares, 72.65%) - Da Zhong Gong Yong (3.77 billion shares, 70.66%) - Green Power Environmental (2.81 billion shares, 69.50%) [2] Recent Increases in Shareholding - The top 10 companies with the largest increases in shareholding over the last five trading days include: - Alibaba-W: +4.412 billion (27.96 million shares) - Xiaomi Group-W: +3.153 billion (78.16 million shares) - Tencent Holdings: +1.752 billion (2.80 million shares) [2] Recent Decreases in Shareholding - The top 10 companies with the largest decreases in shareholding over the last five trading days include: - WuXi Biologics: -547 million (17.18 million shares) - Crystal International: -503 million (49.52 million shares) - Ganfeng Lithium: -300 million (6.04 million shares) [3]

具体来看，今日上榜的营业部中，沪股通为第三大买入营业部及第一大卖出营业部，买入金额为 4298.11万元，卖出金额为6870.24万元，合计净卖出2572.13万元。 大众公用(600635)今日涨停，全天换手率7.00%，成交额12.54亿元，振幅10.85%。龙虎榜数据显示，沪 股通净卖出2572.13万元，营业部席位合计净买入9351.43万元。 上交所公开信息显示，当日该股因日涨幅偏离值达9.19%上榜，沪股通净卖出2572.13万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交3.16亿元，其中，买入成交额为1.92亿 元，卖出成交额为1.24亿元，合计净买入6779.30万元。 10月31日公司发布的三季报数据显示，前三季度公司共实现营业收入46.59亿元，同比下降2.71%，实现 净利润5.20亿元，同比增长205.14%。（数据宝） | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 华泰证券股份有限公司岳阳岳阳大道证券营业部 | 4601.49 | | | 买 ...

Market Overview - The expectation for a Federal Reserve interest rate cut in December has significantly increased, leading to a rise in Hong Kong stocks, with the Hang Seng Index briefly surpassing 26,000 points. The index closed up 0.69% at 25,894.55 points, with a total turnover of HKD 231.49 billion [1] - The Hang Seng Tech Index rose by 1.2%, indicating a positive sentiment in the technology sector [1] Blue Chip Performance - Xiaomi Group-W (01810) saw a notable increase of 4.35%, closing at HKD 40.34, contributing 47.94 points to the Hang Seng Index. Founder Lei Jun invested over HKD 100 million to purchase 2.6 million shares, raising his stake to 23.26% [2] - Other blue-chip stocks like Baidu Group-SW (09888) and Alibaba Health (00241) also performed well, with increases of 4.56% and 4.36% respectively [2] Sector Highlights - Major technology stocks experienced gains, with Baidu and Xiaomi both rising over 4%. AI applications and computing power sectors were particularly active, with Bilibili rising over 5% [3] - Lithium stocks saw a surge, with Tianqi Lithium (002466) increasing by 4.81% and Ganfeng Lithium (01772) rising by 3.46%. The chairman of Tianqi Lithium indicated that global lithium demand is expected to reach 2 million tons by 2026, achieving a balance between supply and demand [4] - Gold stocks generally rose, with Chifeng Jilong Gold Mining (06693) up 4.86% and Zijin Mining (02899) up 1.78%. The probability of a 25 basis point rate cut by the Federal Reserve in December is currently at 81% [5] Flight Cancellations Impact - There has been a significant increase in flight cancellations from China to Japan, with a 56% rise compared to the previous month. This has led to a decrease in ticket bookings by approximately 29% [6] Notable Stock Movements - Longpan Technology (02465) surged by 22.89% after announcing a sales agreement worth over HKD 45 billion for lithium iron phosphate materials [7] - Hesai Technology (02525) rose by 13.43% following the launch of a new high-performance smart control chip [7] - Changfei Optical Fiber (06869) increased by 12.74%, driven by advancements in AI computing power [9] - Shandong Xinhua Pharmaceutical (00719) saw a rise of 7.24% due to increased demand for flu medications during the flu season [10]

Group 1 - Fubo Group (03738) increased by over 9% after launching AI music detection services on November 21 [1] - Hard Egg Innovation (00400) rose nearly 8% as it reported a revenue of approximately RMB 3.332 billion for Q3 2025, a year-on-year increase of about 22.1% [1] - ZTO Express (02057) saw a rise of over 4% following a report indicating a Q3 revenue and adjusted net profit growth of 11% and 7% year-on-year, respectively [1] - Qiniu Intelligent (02567) increased by 5% due to its core advantage in integrated MPaaS technology, supporting one-stop audio and video solutions [1] Group 2 - HAPO Pharmaceuticals-B (02142) rose nearly 5% after announcing an expanded collaboration with AstraZeneca for new generation biotherapies [2] - Junshi Biosciences (01877) increased by over 5% after achieving primary research endpoints in a clinical study for its drug JS001sc [2] - Dazhong Public Utilities (01635) rose over 8% following the announcement of the successful IPO of Moer Thread, marking a record high issuance price in the A-share market [2] Group 3 - Airline stocks faced declines, with China Eastern Airlines (00670) dropping nearly 6% and China Southern Airlines (01055) down nearly 3% due to a significant increase in flight cancellations to Japan [3] Group 4 - Alibaba-W (09988) increased by over 3% after its app surpassed 10 million downloads within a week of public testing [4] - Xiaomi Group-W (01810) rose over 5% as its founder invested over HKD 100 million to increase his stake to 23.26%, reflecting confidence in the company's growth potential [4] Group 5 - U.S. storage stocks saw collective gains, with SanDisk (SNDK.US) up 13.33% and Western Digital (WDC.US) up 8.43%, following a bullish outlook from Bank of America [5] - Qudian (QD.US) rose 10.3% after reporting a Q3 diluted earnings per ADS of RMB 2.47, exceeding last year's figure [5] - WeRide (WRD.US) surged 14.72% with a 144% year-on-year revenue growth to RMB 171 million for Q3, attributed to fleet expansion [5] Group 6 - Lotus (LOT.US) fell 1.57% after reporting a narrower loss of USD 0.10 per share for Q3, with sales declining to USD 137 million [6] - Chinese concept stocks mostly rose, with HSAI (HSAI.US) up 18.08% and Alibaba (BABA.US) up 5.1%, driven by significant partnerships in the ADAS sector [6] Group 7 - Major tech stocks in the U.S. saw gains, with Google A (GOOGL.US) up 6.31% and Tesla (TSLA.US) up 6.82%, following advancements in AI technology [7]

每经AI快讯，大众公用（01635.HK）涨超8%，截至发稿涨8.66%，报4.14港元，成交额2.18亿港元。 ...

Group 1 - Dazhong Public (600635) shares rose over 8%, reaching a peak increase of 8.66% at HKD 4.14, with a trading volume of HKD 218 million [1] - The highly anticipated result of the Moer Thread's issuance lottery was announced, with an initial subscription multiple of 4126.49 times, leading to a final winning rate of 0.03635054% after the callback mechanism was activated [1] - Moer Thread's IPO price reached a record high of RMB 114.28 per share, marking the highest issuance record in the A-share IPO market for the year [1] Group 2 - Dazhong Public's main business segments include urban gas, environmental municipal services, and financial investment, with a significant stake in Shenzhen Capital Group [1] - The company directly holds 10.8% of Shenzhen Capital Group's shares, ranking fourth among all shareholders, and its total stake, including indirect holdings, amounts to 13.93% [1] - Shenzhen Capital Group has numerous external investment projects, including notable IPO candidates such as Yushu Technology and Moer Thread [1]

Group 1 - The stock of Dazhong Public (01635) increased by over 8%, reaching a price of 4.14 HKD with a trading volume of 218 million HKD [1] - The subscription rate for the online issuance of Moer Thread reached 4126.49 times, with a final winning rate of 0.03635054% after the callback mechanism was activated [1] - Moer Thread's IPO price was set at 114.28 RMB per share, marking the highest issuance record in the A-share IPO market for the year [1] Group 2 - Dazhong Public's main business segments include urban gas, environmental municipal services, and financial investment [1] - The company is a major shareholder of Shenzhen Capital Group, holding 10.8% of its shares directly, ranking fourth among all shareholders [1] - Including indirect holdings, Dazhong Public's total stake in Shenzhen Capital Group reaches 13.93%, which has numerous investment projects, including Yushu Technology and Moer Thread [1]

Core Insights - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 19.38%, with 242 stocks having a shareholding ratio exceeding 20% [1] - Southbound funds hold a total of 4,900.47 million shares, accounting for 19.38% of the total share capital of the stocks, with a market value of 60,614.05 million HKD, representing 14.66% of the total market value [1] - The stocks with the highest shareholding ratios by southbound funds are primarily AH concept stocks, with 129 out of 242 stocks (53.31%) having a shareholding ratio over 20% [1] Group 1: Shareholding Distribution - 242 stocks have a shareholding ratio of over 20%, 131 stocks between 10% and 20%, 91 stocks between 5% and 10%, 84 stocks between 1% and 5%, and 21 stocks below 1% [1] - The stock with the highest southbound fund shareholding is China Telecom, holding 100,451.36 million shares, which is 72.38% of its issued shares [2] - Other notable stocks include Green Power Environmental (69.48%) and China Resources Power (69.45%) [2] Group 2: Industry Concentration - Southbound funds with shareholding ratios over 20% are concentrated in the healthcare, industrial, and financial sectors, with 56, 36, and 34 stocks respectively [2] - The healthcare sector includes stocks like Kanglong Chemical (59.10%) and Fosun Pharma (57.28%) [2][3] - The financial sector features stocks such as Guotai Junan (58.97%) and Zhongtai Securities (60.50%) [2][3]

Group 1 - The overall shareholding ratio of southbound funds in Hong Kong Stock Connect stocks is 19.37%, with 243 stocks having a shareholding ratio exceeding 20% [1] - As of November 20, southbound funds hold a total of 4,896.59 million shares, accounting for 19.37% of the total share capital of the stocks, with a total market value of 62,183.87 billion HKD, representing 14.69% of the total market value [1] - The highest shareholding ratio by southbound funds is in China Telecom, with 100.39 million shares held, representing 72.33% of the issued shares [1] Group 2 - Southbound funds with a holding ratio exceeding 20% are mainly concentrated in the healthcare, industrial, and financial sectors, with 56, 37, and 34 stocks respectively [2] - The top stocks with high southbound fund holdings include China Telecom, with a holding ratio of 72.33%, followed by Dazhong Public Utilities at 69.46% and Green Power Environmental at 69.45% [2] - A significant portion of the stocks with high southbound fund holdings are AH concept stocks, with 130 out of 243 stocks (53.50%) having a holding ratio over 20% being AH stocks [1][2]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (72.33%), Power Assets Holdings (69.46%), and GCL-Poly Energy Holdings (69.45%) [1][2] - Alibaba (W) saw the largest increase in holding amount over the last five trading days, with an increase of 88.38 billion, followed by Xiaomi Group (22.55 billion) and Xpeng Motors (15.37 billion) [1][2] - The largest decreases in holding amounts were observed in the Tracker Fund of Hong Kong (-25.69 billion), Hang Seng China Enterprises Index ETF (-16.22 billion), and China Shenhua Energy (-9.29 billion) [1][3] Hong Kong Stock Connect Holding Ratios - China Telecom (00728) holds 100.39 million shares, representing 72.33% of its total [2] - Power Assets Holdings (01635) holds 3.71 million shares, representing 69.46% [2] - GCL-Poly Energy Holdings (01330) holds 2.81 million shares, representing 69.45% [2] - Other notable companies include Huitian International Investment (68.37%) and COSCO Shipping Energy Transportation (68.31%) [2] Recent Increases in Holdings - Alibaba (W) increased by 88.38 billion, with a share increase of 57.1 million [2] - Xiaomi Group (W) increased by 22.55 billion, with a share increase of 59.8 million [2] - Xpeng Motors (W) increased by 15.37 billion, with a share increase of 18.8 million [2] - Other companies with notable increases include China Construction Bank (11.86 billion) and Semiconductor Manufacturing International Corporation (11.37 billion) [2] Recent Decreases in Holdings - Tracker Fund of Hong Kong decreased by 25.69 billion, with a share decrease of 98.8 million [3] - Hang Seng China Enterprises Index ETF decreased by 16.22 billion, with a share decrease of 17.3 million [3] - China Shenhua Energy decreased by 9.29 billion, with a share decrease of 22.9 million [3] - Other companies with significant decreases include Agricultural Bank of China (-6.39 billion) and WuXi Biologics (-6.06 billion) [3]