恒指低开0.53%，报25531.59点；恒生科技指数跌0.51%。哔哩哔哩跌超4%，快手跌1.6%，阿里巴巴跌 1%。 ...

Core Viewpoint - Kuaishou (01024) has shown strong performance recently, with the stock price reaching 79.35 HKD, up 1.93%, and a high of 79.95 HKD, indicating robust short-term upward momentum despite some technical indicators suggesting potential short-term pullback risks [1][2]. Technical Analysis - The stock price has broken through key moving averages, MA10 at 69.26 HKD and MA30 at 63.5 HKD, with a MACD golden cross indicating expanding momentum [1]. - The RSI indicator is at 77, entering the overbought territory, while the Williams indicator shows a sell signal, suggesting a potential divergence in technical signals [1][2]. - Immediate support is at 69.2 HKD, with a potential drop to 64 HKD if this level is breached; resistance is at 83.3 HKD, with a challenge to 89.7 HKD if broken [2]. Derivative Instruments - On July 21, when Kuaishou rose by 9.03%, related call options saw significant gains, with Morgan Stanley's call option 25717 increasing by 71% and UBS's call option 25723 rising by 68% [4]. - The current market offers diverse trading options for investors, with HSBC's call option 15133 being a preferred choice due to its 5.3x leverage and a strike price of 90.29 HKD, suitable for medium-term investors [7]. - For short-term traders, HSBC's bull certificate 59410 offers a 5.2x leverage with a recovery price of 66 HKD, while UBS's bull certificate 59046 provides a slightly higher leverage of 5.5x with a recovery price of 67 HKD, both maintaining low premium levels [7][11]. Market Sentiment - The strong performance of Kuaishou is attributed to the recovery in the short video industry and technical breakthroughs above key moving averages [4]. - There is market speculation regarding whether Kuaishou can maintain its technical breakout amid increasing competition in the short video sector, with potential scenarios of testing support at 69.2 HKD or directly challenging resistance at 83.3 HKD [11].

Simon:前期高位在30.23元，目前技術信號總結為"買入"15個買入和4個賣出。能否挑戰高位呢？數據系統分析的阻力位在30.1元和32.2元，有機會升穿之前 高位。 1、恆指：看多投資者認為繼續大成交，資金未有減退，已突破阻力，下一個目標26600，過夜牛證。看空投資者則同時部署Put和熊證 Simon:全日收在最高位25538.7點，從周線圖看，恆指升穿周線圖的保力加通道頂部。如果反手部署，投資者都會問選擇認沽證好還是熊證？兩者之間最大 的區別就是牛熊證有收回風險，如果市場繼續升，而買入貼價熊證，會出現即刻被收回的風險。如果看淡走勢，考慮買下跌工具搏一搏的話，選擇認沽證， 不會有收回風險。如果升勢情況下，熊證則有機會被收回，認沽證則還等待一段時間。回到指數分析，目前買賣信號總結為"買入"，整體偏向樂觀向好。阻 力位25795點和26580點。 2、中信証券 (06030.HK)： 這周能破前高嗎？窩輪市場上有投資者尾盤入Call Simon:走勢引人矚目。升穿保力加通道頂部，盤中最高見552元。近期有一定的升幅，窩輪牛熊證選擇獲利離場是合理的。信號總結為"強力買入"，上方阻 力位在572元和586元。 ...

Group 1 - Kuaishou-W's stock price surged by 5.84% to HKD 77, reaching a new high since January 2023, driven by MrBeast's announcement of a live streaming debut on Kuaishou on July 26 [1] - MrBeast, known for his large-scale challenges and cash giveaways, has 415 million followers on YouTube and is the highest-earning video creator according to Forbes [1] - The anticipated arrival of MrBeast in China for a large-scale challenge show in Q4 2023 is expected to further boost Kuaishou's visibility and engagement [1] Group 2 - The Hang Seng Technology Index ETF (159742) saw a rapid increase of over 3%, with a trading volume exceeding HKD 2 billion, indicating strong market interest [2] - Major stocks within the ETF, including Kuaishou-W, NIO, and Baidu, experienced significant gains, reflecting a positive sentiment in the tech sector [2] - The Hong Kong Internet ETF (159568) also rose by over 2.5%, with Kuaishou-W and Tencent among the top performers, showcasing robust trading activity [2] Group 3 - The outlook for the Hong Kong stock market remains bullish, supported by the strength of the RMB and southbound capital flows [3] - The long-term narrative of a weak dollar and the undervaluation of the RMB, which is significantly lower in purchasing power compared to the USD, is expected to drive a revaluation of RMB assets [3] - The anticipated "third round of revaluation" for Hong Kong stocks is seen as a reward for overcoming long-standing challenges, with an increase in domestic pricing power expected to amplify this revaluation [4] Group 4 - The Hang Seng Technology Index ETF has outperformed the Hang Seng Index over the past year, with a gain of 47.76%, driven by the commercialization of AI models and profit releases from leading internet companies [4] - The index's top ten weighted stocks, including BYD and Alibaba, account for 70% of its weight, indicating a high concentration in leading firms benefiting from AI developments [4] - The Hong Kong Internet ETF has also shown strong performance, with a 47.38% increase over the past year, highlighting the growth potential in the sector [5]

港股快手(01024.HK)涨超5%，汇丰上调快手目标价至82港元。 ...

Group 1 - Kuaishou concept stocks fell by 1.31%, ranking among the top declines in the concept sector, with leading decliners including Liou Co., Shengtian Network, and Shiji Hengtong [1] - Among the Kuaishou concept stocks, six stocks saw price increases, with Yuanlong Yatu, Lishang Guochao, and Yiwan Yichuang rising by 0.63%, 0.56%, and 0.40% respectively [1] - The Kuaishou concept sector experienced a net outflow of 1.984 billion yuan in main funds, with 43 stocks seeing net outflows, and five stocks exceeding 100 million yuan in outflows [2] Group 2 - The top net outflow stock was Liou Co., with a net outflow of 422 million yuan, followed by Meiri Interactive, Zhongwen Online, and Tianyu Digital Science with net outflows of 148 million yuan, 125 million yuan, and 116 million yuan respectively [2] - The stocks with the highest net inflows in the Kuaishou concept sector included Lishang Guochao, Yuanlong Yatu, and Huamei Holdings, with net inflows of 11.88 million yuan, 8.51 million yuan, and 2.76 million yuan respectively [2][4]

Core Viewpoint - Shanghai-based GPU unicorn Hanbo Semiconductor has officially initiated its A-share IPO process, marking a significant step in its capital market journey [2] Company Overview - Hanbo Semiconductor was founded in December 2018 with a registered capital of 543 million yuan and is co-controlled by its founders Qian Jun and Zhang Lei, who collectively hold 42.1465% of the voting rights through 17 employee stock ownership platforms [2][5] - The company is in a "no controlling shareholder" state, indicating a diversified ownership structure [2] Market Context - The GPU sector is critical for high-performance computing and artificial intelligence, with applications in gaming, cloud computing, big data, and AI training and inference [2] - Hanbo Semiconductor is one of five domestic GPU companies that have started the A-share IPO process in the past year, alongside Biran Technology, Moore Threads, Muxi Co., and Granfi [2] Financial Highlights - Hanbo Semiconductor is valued at 10.5 billion yuan, making it one of the highest-valued companies in the GPU sector according to the 2025 Hurun Global Unicorn List [2] Product Development - The company has developed three core product lines: graphics rendering GPUs, data center AI GPUs, and edge AI inference GPUs, targeting high-performance computing fields such as intelligent computing centers, industrial simulation, autonomous driving, and smart cities [5] - Hanbo Semiconductor has released two generations of GPU chips: the first generation SV100 and the second generation SG100, with the latter completing its tape-out in 2023 [5] Recent Innovations - In 2022, Hanbo Semiconductor launched two significant inference card products: the VA10 for data centers and the VE1 for edge computing [6] - In 2023, the company introduced the Nanyu series GPU acceleration cards and six new products aimed at large models and generative AI, including the VA1L large model AI acceleration card and the VA12 high-performance generative AI acceleration card [6] Industry Outlook - According to Gartner's latest forecast, the global AI chip market, which includes GPUs, ASICs, and FPGAs, is expected to reach approximately $94-95 billion by 2025, representing a growth of about 30% from the estimated $71-73 billion in 2024, making it one of the fastest-growing segments in the semiconductor industry [6]

Core Viewpoint - Shanghai-based GPU unicorn Hanbo Semiconductor has officially initiated its A-share listing process by filing for guidance with the Shanghai Securities Regulatory Bureau, with CITIC Securities as the advisory institution [2][11]. Company Overview - Hanbo Semiconductor was established in December 2018 with a registered capital of 543.486826 million yuan [5]. - The company is co-controlled by Jun Qian and Lei Zhang, who collectively hold 42.1465% of the voting rights and have signed a concerted action agreement [4][5]. - Hanbo specializes in high-end GPU chip development and has successfully commercialized two generations of GPU chips, which are utilized in various applications such as large models, intelligent computing centers, and digital twins [6][11]. Financial Background - The company has undergone several funding rounds, including a $50 million Series A in November 2020, a 500 million yuan Series A+ in April 2021, and a 1.6 billion yuan Series B in December 2021 [8][10]. - According to Hurun Research Institute, Hanbo Semiconductor is valued at 10.5 billion yuan [6]. Industry Context - In the past year, five GPU companies have initiated the A-share IPO process, with Hanbo being one of them, focusing on AI chips [11]. - The company has a strong R&D team of over 500 members, with more than 80% holding advanced degrees [6].

Group 1 - The BRICS cooperation is highlighted as an important platform for communication and collaboration among the Global South, with the digital economy emerging as a new link [1][4] - Kuaishou, as an internet short video company, has achieved significant milestones with a GMV of one trillion, revenue of hundreds of billions, and profits in the tens of billions, showcasing its global leadership in video understanding and recommendation algorithms [3][4] - Kuaishou's international expansion has connected more countries and practitioners, with over 22 million global users and more than 60 million monthly active users in Brazil, where it has launched e-commerce operations [3][4] Group 2 - Kuaishou has invested over 7 billion Brazilian Reais in Brazil, supporting nearly 1 million local creators on its platform, Kwai, and contributing to the local economy [4] - The company emphasizes its role in the "Digital Silk Road" between China and Brazil, aiming to bring value, technological capabilities, and community warmth to more people [4] - The forum was attended by representatives from 250 organizations, including media, think tanks, government agencies, and enterprises from 36 countries, indicating a strong interest in BRICS cooperation [4]

Core Insights - Kuaishou's international strategy focuses on emerging markets, particularly Brazil, where it has over 60 million monthly active users and an average daily usage time of 75 minutes [3][5] - The platform has achieved a total gross merchandise volume (GMV) in the trillions, with revenues in the hundreds of billions and profits in the tens of billions [3] - Kuaishou positions itself as a technology-driven company, utilizing AI and algorithms to enhance content creation and distribution, thereby lowering production barriers for users [4] Company Overview - Kuaishou was established in 2011 and has evolved into a leading short video and live streaming platform [3] - The international version, "Kwai," is actively expanding in Latin America, Southeast Asia, and the Middle East [3] Market Position - In Brazil, Kuaishou has become a key player in the digital content landscape, supporting over 1 million content creators and fostering local content agencies and e-commerce businesses [3][4] - The platform's AI-driven tools allow users to create engaging promotional videos easily, enhancing marketing efficiency for businesses [4] Social Impact - Kuaishou aims to amplify voices from the Global South, providing opportunities for diverse perspectives to be heard in global discussions [5] - The company supports content creators from smaller cities and regions in Brazil, encouraging them to share their unique stories and cultures [5]