Group 1: Market Overview - On August 21, the Hong Kong stock market saw a net inflow of 74.61 billion HKD from northbound trading, with 22.01 billion HKD from the Shanghai Stock Connect and 52.6 billion HKD from the Shenzhen Stock Connect [1] - The most bought stocks included Tencent (00700), Meituan-W (03690), and Xiaomi Group-W (01810), while the most sold stocks were the Tracker Fund of Hong Kong (02800), Alibaba-W (09988), and SMIC (00981) [1] Group 2: Stock Performance - Tencent Holdings (00700) had a net inflow of 25.73 billion HKD, with a total trading volume of 35.27 billion HKD, resulting in a net inflow of 16.18 billion HKD [2] - Meituan-W (03690) received a net inflow of 13.9 billion HKD, driven by the launch of its international food delivery brand Keeta in Qatar [5] - Xiaomi Group-W (01810) saw a net inflow of 12.74 billion HKD, with a reported adjusted net profit of 108.31 billion RMB for Q2, a 75.4% year-on-year increase [5] - ZTE Corporation (00763) had a net inflow of 6.3 billion HKD, with analysts highlighting its AI and network business potential [5] Group 3: Notable Earnings and Developments - Lao Pu Gold (06181) reported a 251% increase in revenue to 123.54 billion RMB and a 285.8% increase in net profit to 22.68 billion RMB for the first half of the year [6] - The stock of the Tracker Fund of Hong Kong (02800) experienced a net outflow of 8.24 billion HKD, indicating a shift in investor sentiment [6] - Eastern Selection (01797) faced a net outflow of 1.27 billion HKD amid rumors regarding its CEO, which the company has denied [7]

Core Viewpoint - The launch of the "Dinner with Teacher Yu" event by Dongfang Zhenxuan App signifies a strategic move to enhance customer engagement and brand loyalty through interactive experiences with the founder, Yu Minhong [1] Group 1: Event Details - The event invites 20 lucky members to dine with Yu Minhong, creating a unique opportunity for direct interaction [1] - Members will also receive various self-operated products for evaluation and tasting during the open day [1] - The atmosphere of the event is described as lively, with Yu Minhong engaging in discussions about product philosophy and corporate vision, as well as performing during the dinner [1] Group 2: Member Engagement - Previous seasons of the open day have shown positive member feedback, with participants sharing their experiences on social media [1] - The event aims to strengthen community ties and gather valuable product suggestions from members [1]

Group 1 - The core event is the launch of the "Dinner with Teacher Yu and Oriental Selection Open Day Season 3," where Yu Minhong will host a dinner for 20 lucky members [1] - This event is part of a series that has been held for two consecutive seasons, allowing members to engage with Yu Minhong on product philosophy and corporate vision [1] - The registration for the third season is open to all members of the Oriental Selection App, with simplified processes and enhanced benefits [1] Group 2 - The event will take place on August 25, with the selected members' names being announced, and the company will reimburse travel expenses for the lucky members [1] - Accommodation for the members will be arranged by the company, indicating a commitment to enhancing member experience [1]

Core Viewpoint - The stock price of Dongfang Zhenxuan experienced volatility due to rumors regarding the CEO of New Oriental Group, Zhou Chenggang, being investigated, which led to significant fluctuations in stock performance [2][6]. Group 1: Stock Performance - On August 19, Dongfang Zhenxuan's stock price surged over 23% before plummeting to a closing price of 34.32 HKD, a drop of 20.89% [2]. - As of August 20, the stock price rebounded to 37.14 HKD, an increase of 8.22%, but then fell again to 35.46 HKD, a decrease of 4.52% by August 21 [1]. Group 2: Company Challenges - Dongfang Zhenxuan is currently facing performance challenges due to the separation from Yuhui Tongxing, resulting in a net revenue decline of 9.3% year-on-year, with a reported net loss of 96.5 million CNY for the first half of the 2025 fiscal year [6][7]. - The company has been actively diversifying its sales channels, moving away from reliance on single platforms and launching self-operated products, which have become a significant growth driver [1][7]. Group 3: Talent Retention Issues - The departure of key talent, including popular hosts, raises concerns about the company's ability to retain core personnel, which is critical for its ongoing success [10][11]. - Despite the company's efforts to reduce dependence on top hosts, the recent exits of prominent figures have led to increased scrutiny regarding talent retention strategies [10]. Group 4: Revenue and Product Strategy - Dongfang Zhenxuan's self-operated products have become a core revenue source, accounting for approximately 46% of total sales volume, with over 600 SKUs developed [9][8]. - The average commission rate for Dongfang Zhenxuan is reported to be below 20%, contrary to rumors suggesting it exceeds 30% [3].

Core Viewpoint - Oriental Selection (01797) has experienced a decline of over 5%, despite a monthly increase of over 60%. As of the report, the stock is down 4.04% at HKD 35.64, with a trading volume of HKD 1.048 billion [1] Group 1: Company News - Recent rumors suggest that New Oriental CEO Zhou Chenggang may be under investigation by regulatory authorities for related party transactions. Oriental Selection has issued a statement claiming these rumors are unfounded [1] - The company refuted claims that its commission rate has been consistently over 30%, stating that the actual average commission rate is below 20% [1] - New Oriental's founder, Yu Minhong, indicated on Weibo that Zhou Chenggang's upcoming visit to Australian universities is intended to dispel the rumors of an investigation [1] Group 2: Market Analysis - On August 19, Oriental Selection's stock experienced a sudden drop, with analysts noting that there was significant selling pressure in the after-hours trading session. However, the end-of-day trading showed signs of buying interest [1] - Analysts suggest that the recent stock price fluctuations are primarily driven by short-term capital. Once these short-term investors achieve their profit targets, a collective exit can lead to significant price volatility [1] - Although there may be potential for a rebound in the stock, such trends driven by speculative capital are often not sustainable [1]

东方甄选(01797)再跌超5%，月内仍涨超60%。截至发稿，跌4.04%，报35.64港元，成交额10.48亿港 元。 消息面上，近日市场有传闻称，新东方CEO周成刚或涉关联交易被监管部门立案调查。东方甄选发布声 明称，关于周成刚的传闻纯属谣言，关于"东方甄选佣金率长期超30%"的说法严重失实，东方甄选售卖 产品确保高品质和高性价比，实际平均佣金率不到20%。此外，新东方创始人俞敏洪于微博表示，新东 方CEO周成刚的澳洲名校探访之旅即将启程，疑再次为周成刚被立案调查的传闻辟谣。 值得注意的是，对于东方甄选8月19日午后突发跳水，中泰国际策略分析师颜招骏当日表示："今日盘后 竞价环节卖一档位一度有大单压盘，不过尾盘量价配合显示有资金逢低吸纳迹象。近日东方甄选的股价 异动更多是受短线资金驱动。当短线资金完成获利目标后集体撤离，就容易引发股价的剧烈波动。尽管 个股可能有反弹，但这种由游资主导的行情往往难以持续。" ...

Core Viewpoint - A rumor regarding New Oriental's CEO Zhou Chenggang led to significant stock price declines for both New Oriental and Dongfang Zhenxuan, prompting official statements to refute the claims [1][2][3]. Group 1: Rumor and Market Reaction - The rumor claimed that CEO Zhou Chenggang was under investigation for alleged misconduct, causing a sharp drop in stock prices on August 19, with Dongfang Zhenxuan's stock falling by 20.89% and losing nearly 100 billion HKD in market value [2][6]. - Following the rumor, New Oriental's stock also declined, with drops of 2.22% and 1.3% on August 19 and 20, respectively, resulting in a market value loss of approximately 22.6 billion HKD over two days [6][2]. Group 2: Company Responses - New Oriental and Dongfang Zhenxuan issued statements declaring the rumors as false and stated that they would pursue legal action against those spreading misinformation [3][4]. - Zhou Chenggang appeared in a video to address the rumors, affirming that they were baseless and announcing upcoming live broadcasts scheduled for late August to early September [4][5]. Group 3: Financial Performance - For the fourth quarter of the 2025 fiscal year, New Oriental reported a net revenue of 1.2432 billion USD, a year-on-year increase of 9.4%, but incurred an operating loss of approximately 8.7 million USD [7][8]. - The company’s net profit attributable to shareholders for the fourth quarter fell by 73.7% to 7.1 million USD, while its total revenue for the fiscal year reached 4.9 billion USD, up 13.6% year-on-year [8][9]. - New Oriental expects fiscal year 2026 revenues to be between 5.15 billion and 5.39 billion USD, reflecting a growth of 5% to 10% [10].

Key Points - The top three stocks with net inflows from southbound funds on August 18 are China Life (02628) with 955 million, Alibaba-W (09988) with 617 million, and Bilibili-W (09626) with 484 million [1][2] - The top three stocks with net outflows are the Tracker Fund of Hong Kong (02800) with -6.418 billion, Hang Seng China Enterprises (02828) with -2.181 billion, and CNOOC (00883) with -451 million [1][2] - In terms of net inflow ratio, the top three are Hong Kong and China Gas (01083) at 62.85%, Anjoy Foods (02648) at 59.88%, and Ruipu Lanjun (00666) at 51.93% [1][2] - The top three stocks with the highest net outflow ratios are Jiangsu Nanjing Highway (00177) at -54.22%, United Energy Group (00467) at -48.65%, and Sany International (00631) at -48.21% [1][2] Net Inflow Rankings - The top ten stocks by net inflow include China Life (02628) with 955 million, Alibaba-W (09988) with 617 million, and Bilibili-W (09626) with 484 million [2] - Other notable stocks in the top ten include CICC (03908) with 471 million and CITIC Securities (06030) with 411 million [2] Net Outflow Rankings - The top ten stocks by net outflow include the Tracker Fund of Hong Kong (02800) with -6.418 billion, Hang Seng China Enterprises (02828) with -2.181 billion, and CNOOC (00883) with -451 million [2] - Other significant outflows include Kuaishou-W (01024) with -381 million and Geely Automobile (00175) with -305 million [2] Net Inflow Ratio Rankings - The top three stocks by net inflow ratio are Hong Kong and China Gas (01083) at 62.85%, Anjoy Foods (02648) at 59.88%, and Ruipu Lanjun (00666) at 51.93% [2][3] - Additional stocks with high net inflow ratios include Daxin Financial (00440) at 50.35% and Shougang Resources (00639) at 47.08% [3] Net Outflow Ratio Rankings - The top three stocks by net outflow ratio are Jiangsu Nanjing Highway (00177) at -54.22%, United Energy Group (00467) at -48.65%, and Sany International (00631) at -48.21% [3] - Other notable stocks with significant outflow ratios include Tuhu-W (09690) at -46.99% and Ansteel (00347) at -46.67% [3]

8月20日港股通成交活跃股 | 代码 | 简称 | 类型 | 成交金额（万港元） | 成交净买入（万港元） | 日涨跌幅（%） | | --- | --- | --- | --- | --- | --- | | 02800 | 盈富基金 | 港股通(沪) | 690349.78 | -668094.25 | 0.16 | | 01797 | 东方甄选 | 港股通(沪) | 489568.86 | 30371.75 | 8.22 | | 09992 | 泡泡玛特 | 港股通(沪) | 433494.38 | 60642.80 | 12.54 | | 02800 | 盈富基金 | 港股通(深) | 365832.00 | -364146.39 | 0.16 | | 00981 | 中芯国际 | 港股通(沪) | 321263.24 | -14996.10 | 3.40 | | 00700 | 腾讯控股 | 港股通(沪) | 312793.41 | 118750.61 | -0.34 | | 01810 | 小米集团-W | 港股通(沪) | 311536.71 | 65056.36 | 0.29 | | 0282 ...

8月20日恒生指数上涨0.17%，南向资金全天合计成交金额为1681.01亿港元，其中，买入成交767.10亿 港元，卖出成交913.91亿港元，合计净卖出金额146.82亿港元。具体来看，港股通（深）累计成交金额 643.94亿港元，买入成交286.49亿港元，卖出成交357.44亿港元，合计净卖出金额70.95亿港元；港股通 （沪）累计成交金额1037.07亿港元，买入成交480.60亿港元，卖出成交556.47亿港元，合计净卖出金额 75.87亿港元。 从连续性进行统计，有1只股获南向资金连续3天以上净买入，连续净买入天数较多的有腾讯控股，连续 净买入天数分别为4天。以其间净买入金额统计，净买入金额最多的是腾讯控股，合计净买入为37.01亿 港元。 8月20日南向资金成交活跃股 | 代码 | 简称 | 成交金额（万港元） | 成交净买入（万港元） | 今日涨跌幅（%） | | --- | --- | --- | --- | --- | | 00700 | 腾讯控股 | 493897.47 | 96901.31 | -0.34 | | 09992 | 泡泡玛特 | 667518.38 | 34352.78 ...