Core Viewpoint - Guotai Junan International expects a significant increase in net profit for the first half of 2025, projecting between HKD 5.15 billion and HKD 5.95 billion, representing a growth of 161% to 202% compared to HKD 1.97 billion in the same period of 2024 [1] Financial Performance - For the year 2024, Guotai Junan International reported a revenue of HKD 44.22 billion, a year-on-year increase of 37%, and a net profit of HKD 3.48 billion, which is a substantial increase of 73% [1] - As of the end of 2024, the company's total assets reached HKD 1,301.73 billion, establishing a solid foundation for providing one-stop financial services [1] Stock Market Reaction - Following the earnings forecast, the market reacted positively, with the stock price of Guotai Junan International rising over 16% at one point on July 10, ultimately closing up 10.24% at HKD 6.35, bringing the total market capitalization to HKD 604.5 billion [1] - The stock had already experienced a significant surge due to developments in the virtual asset business, with a single-day increase of 198.39% on June 25, leading to a cumulative rise of over 400% by July 10 [1] Virtual Asset Business Development - The company's performance and stock price boost are closely linked to its breakthrough in the virtual asset sector, having received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services [2] - This upgrade allows clients to trade cryptocurrencies such as Bitcoin and Ethereum directly on its platform, covering a full range of services including trading execution, investment advice, product issuance, and distribution [2] Strategic Positioning - Guotai Junan International has established a leading position in the Hong Kong virtual asset market through a series of regulatory approvals for various virtual asset-related services since 2024, marking the completion of its full-process capability from brokerage to trading [2] - The company's strategy of integrating traditional financial services with virtual assets not only strengthens its core advantages in wealth management and corporate financing but also positions it favorably for the development of Web 3.0 in Hong Kong [3]

Group 1 - The core viewpoint of the article is that Guotai Junan International expects a significant increase in net profit by 161% to 202% for the first half of 2025, driven by strong performance in its core business areas [2][3] - Guotai Junan International's projected net profit for the six months ending June 30, 2025, is estimated to be between HKD 515 million and HKD 595 million, compared to approximately HKD 197 million for the same period in 2024 [2] - The growth in net profit is attributed to substantial increases in revenue from wealth management, corporate financing, asset management, trading, and investment services [2] Group 2 - Guotai Junan International has become the first Hong Kong-based Chinese brokerage to receive approval from the Hong Kong Securities and Futures Commission to upgrade its securities trading license to provide virtual asset trading services [2][3] - Following the license upgrade, clients will be able to trade cryptocurrencies such as Bitcoin and Ethereum, as well as stablecoins like Tether, directly on Guotai Junan International's platform [2] - The company's stock price has surged significantly, reaching HKD 6.01, with a 624% increase since early April, resulting in a market capitalization of HKD 57.2 billion [3]

Core Viewpoint - Guotai Junan International expects a net profit of HKD 515 million to HKD 595 million for the six months ending June 30, 2025, representing a growth of 161% to 202% compared to HKD 197 million in the same period of 2024 [1] Summary by Categories Financial Performance - The anticipated profit growth is primarily driven by significant increases in revenue from core businesses including wealth management, corporate financing, asset management, and trading and investment [1]

Market Overview - On July 9, the Hang Seng Index fell by 1.06%, closing at 23,892.32 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 9.256 billion [1][3] - The total trading volume for the Stock Connect on July 9 was HKD 132.654 billion, with a net purchase of HKD 9.256 billion [1] Stock Performance - In the Shanghai Stock Connect, the total trading volume was HKD 88.533 billion, with a net purchase of HKD 6.585 billion; in the Shenzhen Stock Connect, the trading volume was HKD 44.122 billion, with a net purchase of HKD 2.672 billion [1] - The most actively traded stock in the Shanghai Stock Connect was Legend Holdings, with a trading volume of HKD 10.867 billion, followed by Guotai Junan International and Alibaba-W, with trading volumes of HKD 9.711 billion and HKD 4.349 billion, respectively [1][2] - In terms of net buying, China Construction Bank led with a net purchase of HKD 1.1 billion, despite its stock price declining by 0.24% [1] - Tencent Holdings had the highest net selling amount at HKD 49 million, with its stock price down by 1.37% [1] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, Guotai Junan International topped the trading volume with HKD 3.649 billion, followed by Legend Holdings and Alibaba-W with HKD 3.320 billion and HKD 3.072 billion, respectively [2] - The stock with the highest net purchase was China National Pharmaceutical Group, with a net purchase of HKD 309 million, and its stock price increased by 10.06% [2] - Alibaba-W experienced the highest net selling amount at HKD 25 million, with its stock price down by 3.83% [2]

Core Insights - On July 9, 2025, the top three companies by trading volume in the southbound Shanghai-Hong Kong Stock Connect were Giant Star Legend (06683), Guotai Junan International (01788), and Alibaba-W (09988) with trading volumes of 10.867 billion, 9.711 billion, and 4.349 billion respectively [1] - In the southbound Shenzhen-Hong Kong Stock Connect, the leading companies were Guotai Junan International (01788), Giant Star Legend (06683), and Alibaba-W (09988) with trading volumes of 3.649 billion, 3.320 billion, and 3.072 billion respectively [1] Southbound Shanghai-Hong Kong Stock Connect - The top active trading companies included: - Giant Star Legend (06683) with a trading amount of 10.867 billion and a net buying amount of +0.235 billion [2] - Guotai Junan International (01788) with a trading amount of 9.711 billion and a net buying amount of +0.175 billion [2] - Alibaba-W (09988) with a trading amount of 4.349 billion and a net buying amount of +1.038 billion [2] - Other notable companies included Tencent Holdings (00700) with a trading amount of 2.644 billion and a net selling amount of -48.5393 million [2] Southbound Shenzhen-Hong Kong Stock Connect - The top active trading companies included: - Guotai Junan International (01788) with a trading amount of 3.649 billion and a net buying amount of +0.631176 billion [2] - Giant Star Legend (06683) with a trading amount of 3.320 billion and a net buying amount of +0.155 billion [2] - Alibaba-W (09988) with a trading amount of 3.072 billion and a net selling amount of -24.5399 million [2] - Other notable companies included Tencent Holdings (00700) with a trading amount of 1.311 billion and a net buying amount of +0.877015 billion [2]

Market Overview - On July 8, the Hang Seng Index rose by 1.09%, closing at 24,148.07 points, with a net inflow of HKD 387 million through the southbound trading channel [1] - The total trading volume for the southbound trading on July 8 was HKD 113.64 billion, with a net buying of HKD 387 million [1] Southbound Trading Details - In the Shanghai-Hong Kong Stock Connect, the trading volume was HKD 74.44 billion with a net selling of HKD 23.8 million, while the Shenzhen-Hong Kong Stock Connect had a trading volume of HKD 39.21 billion with a net buying of HKD 625 million [1] - The most actively traded stock in the Shanghai-Hong Kong Stock Connect was Guotai Junan International, with a trading amount of HKD 1,002.40 million [2] - Alibaba-W and Meituan-W followed, with trading amounts of HKD 295.44 million and HKD 263.50 million, respectively [2] Net Buying and Selling Analysis - In terms of net buying, Meituan-W led with a net inflow of HKD 92.32 million, closing with a price increase of 2.69% [1] - The stock with the highest net selling was the Tracker Fund of Hong Kong, with a net outflow of HKD 98.10 million, while it closed up by 1.15% [1] - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W had the highest net buying of HKD 55.61 million, closing up by 1.52% [2] - The stock with the highest net selling in this segment was Hang Seng China Enterprises, with a net outflow of HKD 54.45 million, closing up by 1.30% [2] Active Stocks Summary - The top ten actively traded stocks in the southbound trading included Guotai Junan International, Alibaba-W, and Tencent Holdings, with respective trading amounts of HKD 1,002.40 million, HKD 295.44 million, and HKD 186.60 million [2] - The daily price changes for these stocks varied, with Guotai Junan International showing a significant increase of 28.54% [2]

Market Overview - On July 8, the Hang Seng Index rose by 1.09%, with southbound funds totaling HKD 113.64 billion in trading volume, comprising HKD 57.01 billion in buying and HKD 56.63 billion in selling, resulting in a net buying amount of HKD 0.39 billion [1] Southbound Trading Activity - The southbound trading through Stock Connect (Shenzhen) recorded a total trading volume of HKD 39.21 billion, with net buying of HKD 0.63 billion, while the Shanghai Stock Connect saw a total trading volume of HKD 74.44 billion, resulting in a net selling of HKD 0.24 billion [1] - The most actively traded stock by southbound funds was Guotai Junan International, with a total trading volume of HKD 135.61 billion, followed by Alibaba-W and Meituan-W with trading volumes of HKD 46.17 billion and HKD 36.77 billion respectively [1] Net Buying and Selling Analysis - Among the stocks with net buying, Alibaba-W led with a net buying amount of HKD 14.11 billion, closing up by 1.52%, followed by Meituan-W with HKD 11.31 billion and China Construction Bank with HKD 3.94 billion [1] - The stock with the highest net selling was the Tracker Fund of Hong Kong, with a net selling amount of HKD 9.81 billion, while Tencent Holdings and Hang Seng China Enterprises experienced net selling of HKD 6.22 billion and HKD 5.45 billion respectively [1] Continuous Net Buying Stocks - Three stocks have seen continuous net buying for more than three days, with SMIC leading at 13 days, followed by China Construction Bank at 4 days and Guotai Junan International at 3 days [2] - The total net buying amount for SMIC was HKD 77.95 billion, followed by China Construction Bank with HKD 12.43 billion and Guotai Junan International with HKD 5.90 billion [2]

Group 1 - The core viewpoint of the news is that Hong Kong's stablecoin concept stocks, led by Guotai Junan International, are experiencing significant price increases ahead of the implementation of the Stablecoin Regulation on August 1, which will allow for the licensing of virtual asset trading services [1][4] - As of July 8, Guotai Junan International's stock rose by 25.54%, with a year-to-date increase of 452.7%. Other Chinese brokerage stocks also saw gains, indicating a broader positive trend in the sector [3][5] - The upcoming Stablecoin Regulation is expected to enhance the valuation, pricing, and trading of stablecoins and other virtual assets, thereby increasing business and scale for brokerages [4][6] Group 2 - The Hong Kong Monetary Authority will begin accepting license applications for virtual asset trading services, with expectations that the number of approved licenses will be in single digits [4][5] - The recent rise in stablecoin concept stocks is attributed to the establishment of regulatory frameworks in various markets, including Hong Kong, which supports the stablecoin market's development [4][6] - The approval of virtual asset trading licenses is seen as a critical move for companies to capture market opportunities in the digital asset era, potentially leading to increased business volume and efficiency in payment systems [5][6]

2025年7月8日当天，国泰君安国际(01788)、阿里巴巴-W(09988)、美团-W(03690)位居沪港通（南向） 成交额前3位，成交额分别为100.24 亿元、29.54 亿元、26.35 亿元；国泰君安国际(01788)、阿里巴巴- W(09988)、腾讯控股(00700) 位居深港通（南向）成交额前3位，成交额分别为35.37 亿元、16.62 亿 元、12.70 亿元。 深港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 国泰君安国际(01788) | 35.37 亿元 | +1.67 亿元 | | 阿里巴巴-W(09988) | 16.62 亿元 | +5.56 亿元 | | 腾讯控股(00700) | 12.70 亿元 | -2.11 亿元 | | 中芯国际(00981) | 12.40 亿元 | +1.04 亿元 | | 小米集团-W(01810) | 12.29 亿元 | -2425.57 万元 | | 美团-W(03690) | 10.42 亿元 | +2.08 亿元 | | 协鑫科技(03800) | 8.74 亿 ...

交易所数据显示，7月8日南向资金动向： 大幅净买入：阿里巴巴-W(09988.HK)14.11亿港元、美团-W(03690.HK)11.31亿港元、建设银行 (00939.HK)3.94亿港元、协鑫科技(03800.HK)2.35亿港元、国泰君安国际(01788.HK)1.94亿港元、快手- W(01024.HK)1.61亿港元。 7月8日消息，南向资金今日成交1136.41亿港元，净流入约3.87亿港元。其中沪港股通净流出约2.38亿港 元，深港股通净流入约6.25亿港元 协鑫科技今日涨10.81%，沪港股通净买入3.08亿港元，深港股通净卖出7297.44万港元。 国泰君安国际今日涨28.54%，沪港股通净买入2726.30万港元，深港股通净买入1.67亿港元。 快手W今日涨5.16%，深港股通净买入1.61亿港元。 盈富基金今日涨1.15%，沪港股通净卖出98098.69万港元。 腾讯控股今日涨0.50%，沪港股通净卖出41090.64万港元，深港股通净卖出21076.07万港元。 大幅净卖出：盈富基金(02800.HK)98098.69万港元、腾讯控股(00700.HK)62166.71万港元、恒生中 ...