Group 1 - The stock of ZhongAn Online (06060.HK) has dropped over 10% [1] - The trading volume exceeded 1.6 billion HKD [1]

Core Insights - On May 29, ZhongAn Online made its first appearance on the Hong Kong Stock Connect active trading list in nearly a month, with a trading volume of 3.398 billion HKD and a net buy of 756 million HKD, resulting in a price increase of 31.56% [2]. Trading Activity Summary - The total trading volume of active stocks on the Hong Kong Stock Connect on May 29 was 33.241 billion HKD, accounting for 33.58% of the day's total trading amount, with a net buy of 295 million HKD [2]. - The top traded stock was Meituan-W, with a trading volume of 7.122 billion HKD, followed by Xiaomi Group-W at 4.697 billion HKD and Alibaba-W at 3.574 billion HKD [2]. - The most frequently listed stocks in the past month were Alibaba-W and Meituan-W, each appearing 19 times, indicating strong interest from Hong Kong Stock Connect investors [2]. Individual Stock Performance - ZhongAn Online's trading volume on the day was 3.398 billion HKD, with a net buy of 756 million HKD, marking its first appearance on the active list in a month [2]. - Other notable stocks included: - Xiaomi Group-W: Trading volume of 4.697 billion HKD, net sell of 530 million HKD, and a closing price of 51.700 HKD with a slight decrease of 0.10% [2]. - Meituan-W: Trading volume of 7.122 billion HKD, net buy of 1.044 billion HKD, closing at 140.100 HKD with an increase of 6.62% [2]. - Alibaba-W: Trading volume of 3.574 billion HKD, net sell of 337 million HKD, closing at 118.100 HKD with an increase of 2.07% [2].

Group 1: Southbound Capital Flow - On May 29, southbound funds net bought Hong Kong stocks worth 4.382 billion HKD [1] - Notable net purchases included Meituan at 1.044 billion HKD, ZhongAn Online at 756 million HKD, and CSPC Pharmaceutical at 365 million HKD [1] - Continuous selling pressure was observed on Alibaba, with net sales totaling 5.021 billion HKD over 8 consecutive days [1] Group 2: Meituan Performance - Meituan's flash sale for liquor on May 29 reported over 18 times year-on-year growth in overall sales within the first 24 hours [3] - The first 12 hours of white liquor sales exceeded 300 million HKD, marking a year-on-year increase of over 70 times [3] - Sales of beer reached nearly 10 million bottles on the first day, with trendy alcoholic beverages seeing over triple-digit year-on-year growth [3] Group 3: ZhongAn Online Developments - Hong Kong's Legislative Council passed the Stablecoin Bill, allowing institutions to apply for compliance as stablecoin issuers by the end of the year [3] - ZhongAn Online holds a 43.43% stake in ZhongAn Bank, which is positioned to benefit from the stablecoin issuance services [3] - Guotai Junan Securities maintains a "Buy" rating for ZhongAn Online due to its deep involvement in virtual asset business [3] Group 4: Pop Mart Outlook - Jianyin International initiated coverage on Pop Mart with an "Outperform" rating and a target price of 256 HKD, implying a future P/E ratio of about 50 times [4] - The company is expected to achieve a compound annual growth rate of 38% in revenue and 44% in profit from 2025 to 2027 [4][5] - Pop Mart has opened over 35 stores and 20 unmanned stores this year, aiming to reach 100 overseas stores by year-end [5]

从消息面来看，稳定币概念板块近日的暴涨和香港特区通过了一项草案有关。 具体而言，5月21日，香港特区立法会通过《稳定币条例草案》（《草案》），标志着将稳定币这一虚 拟资产正式纳入法治监管体系，预计今年底前机构可向金管局申请成为合规稳定币发行商。 《草案》以在香港设立法币稳定币发行人的发牌制度，完善对虚拟资产活动在香港的监管框架，以保持 金融稳定，同时推动金融创新。 具体而言，《草案》实施后，任何人如在业务过程中在香港发行法币稳定币，或在香港或以外发行宣称 锚定港元价值的法币稳定币，必须向金融管理专员申领牌照。相关人士须符合储备资产管理及赎回等方 面的规定，包括妥善分隔客户资产、维持健全的稳定机制，以及须在合理条件下按面额处理稳定币持有 人的赎回要求。相关人士还须符合一系列打击洗钱及恐怖分子资金筹集、风险管理、披露规定及审计和 适当人选等要求。金融管理专员会适时就制度的详细监管要求作进一步咨询。 5月29日，港股市场的稳定币概念板块延续了5月23日以来的升势，再度跳空上涨。板块内，连连数字 （02598.HK）一度放量飙升近51%；众安在线（06060.HK）也一度暴涨近37%，近期表现极其强势， 已连涨5天； ...

Group 1 - The stock of ZhongAn Online surged over 36% at one point and is currently up over 31% [1]

Group 1 - The stock of ZhongAn Online surged over 36% at one point and is currently up over 30% [1] - The trading volume exceeded 2.8 billion Hong Kong dollars [1]

Group 1 - ZHONGAN Online (06060.HK) stock price surged by 25% on May 29, with a cumulative increase of over 60% in the past four trading days, becoming a market focus [2] - The surge in ZHONGAN Online's stock is attributed to the recent passage of the "Stablecoin Regulation Draft" by the Hong Kong Legislative Council on May 21 [2] - The regulation allows for the issuance of compliant stablecoins in Hong Kong by licensed institutions, which must apply for a license to issue fiat-backed stablecoins [2] Group 2 - The Hong Kong Monetary Authority has released the first batch of stablecoin issuers, including JD Group's JD Coin Chain Technology (Hong Kong) and other companies [3] - ZHONGAN Online's major shareholders include Ant Group, China Ping An, Shenzhen Gadesin Investment, and Tencent, with the company primarily engaged in insurance business [3] - ZHONGAN Bank, in which ZHONGAN Online holds a 43.43% stake, is the first digital bank in Hong Kong to provide reserve banking services for stablecoin issuers, indicating potential for future collaborations [3] Group 3 - In 2023, ZHONGAN Online reported total premiums of RMB 33.417 billion, a year-on-year increase of 13.37%, maintaining underwriting profitability for four consecutive years [3] - The company's net profit reached RMB 603 million, reflecting a 105.4% increase compared to the adjusted net profit in 2023 [3] - DBS Bank's report indicates that ZHONGAN Online's valuation is at a historical low, with potential for performance and valuation increases as the insurance technology ecosystem matures [3]

智通财经5月29日电，港股午间收盘，恒生指数涨0.64%，恒生科技指数涨1.56%。众安在线涨25%，小 鹏汽车涨超6%，美团涨近5%，泡泡玛特涨超4%。 港股午评：恒生指数涨0.64% 众安在线涨25% ...

Group 1 - ZhongAn Online (06060.HK) saw its stock price increase by over 20% during trading, currently priced at 19.32 HKD [1] - The current market capitalization of ZhongAn Online is 27.488 billion HKD [1]

Group 1 - The stock of ZhongAn Online surged over 20% during trading, currently priced at 19.360 HKD [1] - The current market capitalization of ZhongAn Online is 27.488 billion HKD [1] - Investors can buy Hong Kong stocks through A-share accounts without the need for the Hong Kong Stock Connect, allowing T+0 trading [1]