每经AI快讯，8月28日，港股科网股多数走低，截至发稿，美团-W（03690.HK）跌9.20%、阿里巴巴- SW（09988.HK）跌3.37%、京东集团-SW（09618.HK）跌1.81%、贝壳-W（02423.HK）跌1.06%。 ...

(责任编辑：宋政 HN002) 格隆汇8月28日｜恒生科技指数跌幅扩大至超1%。 | 恒牛指数 | 25015.05 | -186.71 | -0.14% | | --- | --- | --- | --- | | 800000 | | | | | 国企指数 | 8938.84 | -81.42 | -0.90% | | 800100 | | | | | 恒生科技指数 | 5632.29 | -65.24 | -1.15% | | 800700 | | | | 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

8月28日早盘，港股市场低开回落。截至发稿时，恒生指数报25020点，下跌0.72%；恒生科技指数报5635点，下跌1.10%。 焦点个股方面，美团昨日公布财报二季度及半年业绩，公司第二季度净利润下滑89%。今日早间，美团股价低开9.72%，开盘后略有回升。但截至发稿前， 美团股价依旧下跌超8%。 每经记者｜曾子建 每经编辑｜肖芮冬 财报显示，美团今年第二季度实现营收918.4亿元人民币，同比增长11.7%；不过，第二季度经营利润下滑98%至2.3亿元，经营利润率从13.7%跌至0.2%；第 二季度调整后净利润14.9亿元人民币，相较于去年同期的136.06亿元同比下降89%，远低于预估98.5亿元人民币。 其他方面，科网股涨跌不一，网易涨近1%，阿里巴巴跌超3%、腾讯跌近1%；创新药概念部分上涨，晶泰控股涨超3%；博彩股普涨，汇彩控股涨超6%；黄 金股活跃，山东黄金涨超2%；芯片股部分高开，晶门半导体涨2%；佳鑫国际资源上市首日涨超130%。 跨境ETF方面，标普油气ETF、中韩半导体ETF、港股红利ETF涨超1%，日经ETF、恒生医疗ETF嘉实、港股央企红利ETF等小幅上涨。此外，港股消费 ETF、香港消 ...

Market Overview - On August 27, the Hang Seng Index fell by 1.27%, closing at 25,201.76 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 15.371 billion [1][2] Trading Activity - The total trading volume for the Stock Connect on August 27 was HKD 191.172 billion, with a net purchase of HKD 15.371 billion [1] - The Shanghai Stock Connect had a trading volume of HKD 118.378 billion and a net purchase of HKD 9.005 billion, while the Shenzhen Stock Connect had a trading volume of HKD 72.794 billion and a net purchase of HKD 6.366 billion [1] Active Stocks - In the Shanghai Stock Connect, the most actively traded stock was SMIC, with a trading volume of HKD 6.799 billion, followed by Alibaba and Tencent, with trading volumes of HKD 4.360 billion and HKD 4.078 billion, respectively [1][2] - In terms of net buying, the top stock was the Tracker Fund of Hong Kong (盈富基金), with a net purchase of HKD 3.056 billion, despite its closing price dropping by 1.23% [1] - SMIC recorded the highest net selling amount of HKD 586 million, while its closing price increased by 0.09% [1][2] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, SMIC also led in trading volume with HKD 5.356 billion, followed by Alibaba and the Tracker Fund of Hong Kong, with trading volumes of HKD 3.473 billion and HKD 2.502 billion, respectively [2] - The Tracker Fund of Hong Kong had a net purchase of HKD 2.494 billion, while Xiaomi Group recorded the highest net selling amount of HKD 300 million, with its closing price down by 0.56% [2]

Market Overview - On August 27, Hong Kong's three major indices collectively declined, with the Hang Seng Index falling by 1.27% to 25,201.76 points, the Hang Seng Tech Index down 1.47% to 5,697.53 points, and the National Enterprises Index decreasing by 1.40% to 9,020.26 points [1] - Most sectors, including pharmaceuticals, brokerage, real estate, tea, and technology, saw declines, while semiconductor stocks performed well [1] Southbound Capital - On August 27, southbound capital recorded a net inflow of 15.371 billion HKD, bringing the total net inflow for the year to 987.393 billion HKD, significantly exceeding last year's total [2] U.S. Market Performance - U.S. stock indices experienced slight gains overnight, with the Dow Jones up 0.32%, S&P 500 rising 0.24%, and Nasdaq increasing by 0.21% [3] - However, popular Chinese concept stocks saw declines, with the Nasdaq Golden Dragon China Index dropping 2.58% [3] Key Company News 1. Nvidia reported Q2 revenue of 46.74 billion USD, a 56% year-over-year increase, and a net profit of 26.422 billion USD, up 59% from the previous year [4] 2. Meituan's Q2 revenue was 91.84 billion CNY, an 11.7% year-over-year growth, but adjusted net profit fell by 89% [4] Short Selling Data - On August 27, a total of 643 Hong Kong stocks were short-sold, with a total short-selling amount of 42.199 billion HKD [5] - Meituan, Alibaba, and Tencent were the top three stocks by short-selling amount, with 3.359 billion HKD, 3.259 billion HKD, and 2.386 billion HKD respectively [5] Institutional Insights - Zheshang Securities indicated that the liquidity tightening in Hong Kong may be nearing its end, suggesting potential for a rebound in Hong Kong stocks [6]

Market Overview - On August 27, Hong Kong's three major indices collectively declined, with the Hang Seng Index falling by 1.27% to 25,201.76 points, the Hang Seng Tech Index down 1.47% to 5,697.53 points, and the National Enterprises Index decreasing by 1.40% to 9,020.26 points. Most sectors, including pharmaceuticals, brokerage, real estate, tea, and technology, saw declines, while semiconductor stocks performed well [1] Southbound Capital - On August 27, southbound capital recorded a net inflow of 15.371 billion HKD, bringing the total net inflow for the year to 987.393 billion HKD, significantly exceeding last year's total net inflow [2] U.S. Market Performance - U.S. stock indices saw slight gains overnight, with the Dow Jones up 0.32%, S&P 500 rising 0.24%, and Nasdaq increasing by 0.21%. Notably, the seven major U.S. tech companies index rose by 0.15%, with Microsoft and Apple gaining nearly 1% and 0.51%, respectively. However, popular Chinese concept stocks fell, with the Nasdaq Golden Dragon China Index down 2.58% [3] Key Company News - Nvidia reported Q2 revenue of 46.74 billion USD, a 56% year-over-year increase, with net profit of 26.422 billion USD, up 59% from the previous year. However, its data center business revenue of 41 billion USD fell short of expectations for two consecutive quarters. Nvidia expects Q3 revenue of 54 billion USD and has approved an additional 60 billion USD stock buyback. Following the announcement, Nvidia's stock price dropped over 3% [4] - Meituan's Q2 revenue reached 91.84 billion CNY, an 11.7% year-over-year increase, but adjusted net profit fell by 89% to 1.49 billion CNY. The Meituan app's monthly active users surpassed 500 million, and the average annual transaction frequency reached a new high. In July, Meituan's instant retail daily order volume peaked at over 150 million, setting a new record [4] Short Selling Data - On August 27, a total of 643 Hong Kong stocks were short-sold, with total short selling amounting to 42.199 billion HKD. The top three stocks by short selling amount were Meituan (3.359 billion HKD), Alibaba (3.259 billion HKD), and Tencent Holdings (2.386 billion HKD) [5] Institutional Insights - Zheshang Securities indicated that the drawdown of the Hang Seng Tech Index may be nearing its end. The index has underperformed in the current market cycle, influenced by the "takeaway war" affecting profit expectations and the Hong Kong Monetary Authority's continuous liquidity withdrawal to stabilize the currency. Current data suggests that liquidity in Hong Kong's banking sector has returned to normal levels, and the Hong Kong dollar has appreciated significantly, indicating limited room for further tightening of liquidity [6] Hong Kong Stock ETFs - The focus on hard technology and new consumption is evident in Hong Kong stock ETFs, such as the Hong Kong Consumption ETF (513230), which covers e-commerce and new consumption sectors, and the Hang Seng Tech Index ETF (513180), which includes key AI assets and technology leaders that are relatively scarce compared to A-shares [7]

人民财讯8月28日电，香港恒生指数开跌0.68%，恒生科技指数跌0.99%。美团低开9.7%，小鹏汽车跌 4.9%。 ...

Core Insights - Meituan's latest quarterly results confirm market concerns about its profitability, with a shocking 87% year-on-year drop in non-IFRS operating profit to 1.84 billion RMB, significantly below Wall Street expectations [1] - Despite a 12% year-on-year revenue growth to 91.84 billion RMB, this figure also failed to meet market forecasts [1] - Management has warned of potential "significant losses" in its core local commerce (CLC) segment for Q3, contrasting sharply with a profit of 14.6 billion RMB in the same period last year [1][3] Financial Performance - The CLC segment's operating profit fell 76% year-on-year, 70% lower than market expectations, indicating severe profitability erosion [3] - Meituan's actual investment in delivery and flash purchase services exceeded previous forecasts by 10 billion RMB, suggesting more intense competition than anticipated [1][3] - The unit economics (UE) for Meituan's delivery business turned negative in Q2, recording -0.12 RMB, down from 1.9 RMB a year ago [4] Competitive Landscape - Meituan maintains a 70% market share in core food-related orders, but faces increasing pressure from Alibaba, which has grown its market share from 30% to over 40% [2][5] - The intense price war began with Alibaba's announcement of a 50 billion RMB subsidy plan, prompting Meituan to respond with its own subsidies [6] - The competition has negatively impacted Meituan's other business areas, with a slowdown in revenue growth for dine-in services from 20% to 15% [6] Future Outlook - Management's guidance indicates a challenging Q3, with expectations of a shift from profit to loss in the CLC segment [1][3] - New business losses narrowed by 43% year-on-year to 1.9 billion RMB, better than market expectations, but anticipated to widen to 2.3-2.4 billion RMB in Q3 due to restructuring costs and international expansion [6]

Core Insights - Meituan reported a revenue of 91.8 billion RMB for Q2 2025, marking an 11.7% year-on-year growth [1] - The core local commerce segment generated revenue of 65.3 billion RMB, reflecting a 7.7% increase compared to the previous year [1] - The Meituan app reached over 500 million monthly active users, with annual transaction frequency hitting a historical high [1] Revenue and Business Performance - The new business segment achieved revenue of 26.5 billion RMB, up 22.8% year-on-year, with losses narrowing to 1.9 billion RMB quarter-on-quarter [3] - The in-store business saw order volume increase by over 40% year-on-year, with the number of active merchants reaching a new high [3] Technological Advancements and Market Expansion - Meituan invested 6.3 billion RMB in R&D, a 17.2% increase year-on-year [3] - The company has established over 50,000 flash warehouses nationwide and expanded its drone delivery services across multiple cities, completing over 600,000 orders [3] - Meituan's international expansion includes significant growth in the Keeta platform, with strong order volume and GTV in Hong Kong and new service launches in Saudi Arabia and Qatar [3] Strategic Vision - CEO Wang Xing emphasized the commitment to enhancing consumer experiences and driving sustainable industry development through technological innovation and ecosystem building [3]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 74.28%, Green Power Environmental (01330) at 70.04%, and China Shenhua (01088) at 67.99% [1][2] - Tencent Holdings (00700), Meituan-W (03690), and ZTE Corporation (00763) saw the largest increases in holding amounts over the last five trading days, with increases of +2.518 billion, +2.479 billion, and +1.356 billion respectively [1][2] - The largest decreases in holding amounts were observed in the Yingfu Fund (02800) at -3.126 billion, Xpeng Motors-W (09868) at -1.132 billion, and Xiaomi Group-W (01810) at -1.122 billion [1][4] Holding Ratios - The latest holding ratios for the top 20 companies in Hong Kong Stock Connect show significant ownership, with China Telecom leading at 74.28% and Green Power Environmental following closely at 70.04% [2] - Other notable companies include Kaisa New Energy (01108) at 67.72% and Tianjin Chuangye Environmental (01065) at 64.39% [2] Recent Trading Activity - In the last five trading days, Tencent Holdings (00700) increased its holding by +2.518 billion, with a change of +4.2031 million shares [2] - Meituan-W (03690) also saw a significant increase of +2.479 billion, with a change of +21.3184 million shares [2] - Conversely, the Yingfu Fund (02800) experienced the largest decrease in holding amount at -3.126 billion, with a change of -12.16491 million shares [4]