Group 1 - Northbound capital recorded a net purchase of 9.838 billion HKD on September 19, with 5.283 billion HKD from the Shanghai Stock Connect and 4.555 billion HKD from the Shenzhen Stock Connect [2] - The most net bought stocks included Shankai Holdings (00412), Alibaba-W (09988), and the Tracker Fund of Hong Kong (02800) [2] - The most net sold stocks were Tencent (00700), Xiaomi Group-W (01810), and Longi Green Energy (06869) [2] Group 2 - Alibaba-W had a net inflow of 4.73 billion HKD, with a buy amount of 37.49 billion HKD and a sell amount of 32.76 billion HKD [3] - Semiconductor stocks, including SMIC (00981) and Huahong Semiconductor (01347), saw net purchases of 3.08 billion HKD and 2.37 billion HKD respectively, driven by optimistic market sentiment [7] - Longi Green Energy (06869) experienced a net outflow of 690.83 million HKD, indicating market concerns regarding its performance [3][8] Group 3 - Shankai Holdings (00412) received a net purchase of 22.4 billion HKD, attributed to its compliance with public shareholding regulations [6] - The report highlighted that Alibaba's new AI chip development has surpassed Nvidia's A800, contributing to its positive market outlook [6] - Longi Green Energy's recent announcement indicated that its products related to data centers, particularly hollow-core fibers, are still in early stages of market adoption [8]

Core Insights - The Hang Seng Index closed flat on September 19, with southbound trading totaling HKD 153.72 billion, comprising HKD 81.78 billion in buying and HKD 71.94 billion in selling, resulting in a net inflow of HKD 9.84 billion [1] Trading Activity - Southbound trading through the Stock Connect (Shenzhen) recorded a total of HKD 55.47 billion, with buying at HKD 30.01 billion and selling at HKD 25.46 billion, leading to a net inflow of HKD 4.55 billion [1] - Southbound trading through the Stock Connect (Shanghai) saw a total of HKD 98.25 billion, with buying at HKD 51.76 billion and selling at HKD 46.48 billion, resulting in a net inflow of HKD 5.28 billion [1] Active Stocks - Alibaba-W was the most actively traded stock with a total transaction amount of HKD 115.81 billion and a net inflow of HKD 17.27 billion [1] - Other notable stocks included SMIC with a transaction amount of HKD 96.75 billion and a net inflow of HKD 9.30 million, and Sany Heavy Industry with a transaction amount of HKD 52.90 billion and a net inflow of HKD 22.40 billion [1][2] Continuous Net Buying - Alibaba-W and Meituan-W were among the stocks with the longest streak of net buying, with Alibaba-W seeing a total net inflow of HKD 57.83 billion over 21 consecutive days, while Meituan-W had a net inflow of HKD 5.75 billion over 5 days [2]

Core Insights - On September 19, 2025, Alibaba-W (09988), SMIC (00981), and Shankai Holdings (00412) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 70.25 billion, 62.79 billion, and 38.99 billion respectively [1] - In the Southbound Stock Connect for the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), SMIC (00981), and Tencent Holdings (00700) also ranked as the top three, with trading amounts of 45.57 billion, 33.96 billion, and 15.89 billion respectively [1] Southbound Stock Connect (Hong Kong-Shanghai) - The top three active companies by trading volume were: - Alibaba-W (09988): 70.25 billion with a net buy of +4.73 billion - SMIC (00981): 62.79 billion with a net buy of +3.08 billion - Shankai Holdings (00412): 38.99 billion with a net buy of +17.21 billion [2] - Other notable companies included: - Changfei Optical Fiber (06869): 24.82 billion with a net sell of -69.08 million - Pop Mart (09992): 24.49 billion with a net buy of +9.01 billion [2] Southbound Stock Connect (Shenzhen-Hong Kong) - The top three active companies by trading volume were: - Alibaba-W (09988): 45.57 billion with a net buy of +12.54 billion - SMIC (00981): 33.96 billion with a net sell of -2.15 billion - Tencent Holdings (00700): 15.89 billion with a net buy of +27.91 million [2] - Other notable companies included: - Xiaomi Group-W (01810): 15.49 billion with a net sell of -43.27 million - Innovent Biologics (01801): 15.23 billion with a net sell of -37.09 million [2]

Group 1 - As of September 19, 93 stocks reached their 52-week highs, with Huake Intelligent Investment (01140), Xincheng Power (01148), and Huashang Energy (00206) leading the increase rates at 22.30%, 20.00%, and 17.65% respectively [1] - The closing prices for the top three stocks that reached new highs are Huake Intelligent Investment at 0.170, Xincheng Power at 0.300, and Huashang Energy at 0.305 [1] - Other notable stocks that reached new highs include Handa Fu Holdings (01348) with a high rate of 16.89% and Meijiehui Holdings (01389) at 13.75% [1] Group 2 - The report also lists stocks that reached their 52-week lows, with Shanga Holdings (00412) experiencing the largest decline at -34.98%, followed by Huaying Construction (01582) at -21.47% [3] - The closing price for Shanga Holdings is 3.360, while Huaying Construction closed at 0.360 [3] - Other stocks with significant declines include China Information Technology Equity (08568) at -17.74% and Tai Hing Properties (00277) at -11.90% [3]

Group 1 - Hongteng Precision (06088) saw its stock price increase by over 25%, currently trading at 5.74 HKD with a transaction volume of 20.63 billion HKD [1] - Goldman Sachs predicts that Industrial Fulian (601138) will enter a strong profit growth cycle starting from Q3 2025, driven by significant revenue growth from rack-level AI servers [1] - CITIC Securities reports that the efficiency and yield metrics of Industrial Fulian's GB200 series products have significantly improved, and the launch of the GB300 new products is expected to further enhance the company's revenue and profit growth potential [1] Group 2 - Hongteng Precision is a leading global manufacturer of server connectors, with its parent company Hon Hai closely collaborating with NVIDIA in the AI sector [1] - The group is actively developing new products in the AI service sector, including connectors, cables, and memory slots [1] - Changjiang Securities indicates that Hongteng Precision is transforming the immense potential of AI into solid growth momentum, with sustained profit growth expected [1]

Core Viewpoint - Hongteng Precision (06088) has seen a significant stock increase of over 11%, currently trading at 5.41 HKD with a transaction volume of 924 million HKD, driven by strategic announcements during its first Technology Day [1] Group 1: Company Developments - Hongteng Precision announced the establishment of its first manufacturing base in the Middle East through a joint venture with Smart Mobility in Saudi Arabia, focusing on the production of electric vehicle charging stations, with construction expected to start in December 2023 and production slated for 2026 [1] - The company anticipates revenue from the automotive sector to reach 700 million USD this year, highlighting its strategic expansion into the automotive industry [1] Group 2: Industry Collaborations - Nvidia and Intel have announced a collaboration to develop customized data center and personal computing products, aimed at enhancing large-scale computing and various applications in enterprise and consumer markets [1] - Hongteng Precision is recognized as a leading global manufacturer of server connectors and is actively expanding its product offerings in the AI service sector, including connectors, cables, and memory slots, leveraging its close partnership with Nvidia in the AI domain [1] Group 3: Market Outlook - Changjiang Securities has indicated that Hongteng Precision is effectively transforming the immense potential of AI into solid growth momentum, suggesting a promising outlook for sustained profit growth [1]

Core Viewpoint - Hongteng Precision (06088) has seen a significant stock increase of over 11%, currently trading at 5.41 HKD, with a transaction volume of 924 million HKD, following the announcement of its strategic initiatives in the automotive and AI sectors [1] Group 1: Company Developments - On September 17, Hongteng Precision held its first Technology Day, where Chairman Lu Songqing emphasized that "data and electricity" will be the core foundation for AI mobility [1] - The company announced a joint venture with Smart Mobility in Saudi Arabia to establish the first manufacturing base in the Middle East, focusing on the production of electric vehicle charging stations, with construction expected to start in December 2023 and production anticipated by 2026 [1] - Hongteng's revenue from the automotive sector is projected to reach 700 million USD this year [1] Group 2: Industry Collaborations - On September 18, NVIDIA and Intel announced a collaboration to develop multiple generations of customized data center and personal computing products, aimed at accelerating the processing of various applications and workloads in large-scale computing and enterprise-level markets [1] - Hongteng Precision is recognized as a leading manufacturer of server connectors and has a close partnership with NVIDIA in the AI sector, actively developing new products such as connectors, cables, and memory slots for AI services [1] - Changjiang Securities recently indicated that Hongteng Precision is effectively transforming the immense potential of AI into solid growth momentum, with sustained profit growth expected [1]

Group 1 - The core message emphasizes that "data and power" will be the foundational elements driving AI mobility, as highlighted by the chairman of the company during the inaugural Technology Day [1] - The company is strategically positioned to capitalize on future technological trends through its "3+3" core strategy, focusing on electric vehicles and consumer electronics while actively embracing the AI era [1] - Products such as optical modules, connectors, and liquid cooling are expected to lead in demand driven by the explosion of artificial intelligence and data center needs [1] Group 2 - The company is leveraging its global layout and superior manufacturing capabilities to transform the immense potential of AI into solid growth momentum [1] - Continuous profit growth is anticipated as the company navigates the evolving technological landscape [1]

Core Viewpoint - Hongteng Precision (06088) has seen a significant stock increase, rising over 5% and peaking at over 11% during early trading, indicating strong market interest following its inaugural Technology Day event [1] Group 1: Company Strategy and Performance - Hongteng's Chairman, Lu Songqing, emphasized that "data and electricity" will be the core foundation for AI mobility, highlighting the company's strategic focus on future technological trends [1] - The company is leveraging its "3+3" core strategy to position itself effectively within the upcoming technological wave, particularly in the electric vehicle and consumer electronics sectors [1] - Hongteng is actively embracing the AI era, with products such as optical modules, connectors, and liquid cooling expected to lead in the surging demand from artificial intelligence and data centers [1] Group 2: Market Position and Growth Potential - Through global expansion and superior manufacturing capabilities, Hongteng is converting the vast potential of AI into solid growth momentum, suggesting a promising outlook for sustained profitability [1] - The trading volume reached 800 million HKD, reflecting strong investor confidence and interest in the company's future prospects [1]

Core Viewpoint - Apple-related stocks have generally risen, driven by strong pre-order demand for the iPhone 17, particularly in the Chinese market, which supports expectations for an increase in Apple's iPhone revenue in Q4 [1] Group 1: Stock Performance - Hongteng Precision increased by approximately 5% [1] - QiuTai Technology and GaoWei Electronics both rose over 4% [1] - Lens Technology rose by 1.7%, Sunny Optical by 1.5%, and FIH Mobile by 1.2% [1] - AAC Technologies saw a slight increase of 0.5% [1] Group 2: Pre-order Data - Goldman Sachs tracked pre-order data from Apple.com, indicating longer delivery times for all iPhone 17 models compared to previous generations [1] - The standard and Pro Max models experienced the longest delivery time increases, with an extension of 8 days [1] - In the Chinese mainland market, the average delivery time increased by 17 days, reaching a total waiting period of 27 days [1] Group 3: Revenue Expectations - Goldman Sachs expects an 8% growth in iPhone revenue for Apple in Q4, supported by strong pre-order demand signals [1]