Ge Long Hui A P P·2025-03-26 12:19Capital Movement - Southbound funds net bought Hong Kong stocks worth 8.362 billion HKD on March 26, with notable purchases in China Merchants Bank (1.58 billion HKD), Meituan (377 million HKD), and Zijin Mining (351 million HKD) [1] - Continuous net selling observed in Xiaomi Group (443 million HKD), Alibaba (349 million HKD), and XPeng Motors (167 million HKD) [1] Company Performance China Merchants Bank - For 2024, China Merchants Bank reported operating income of 337.488 billion CNY, a decrease of 0.48% year-on-year, and a net profit attributable to shareholders of 148.391 billion CNY, an increase of 1.22% [3] Meituan - CEO Wang Xing reduced his stake in Ideal Auto, cashing out nearly 700 million HKD, lowering his ownership from 21.3% to 20.94% [4] Zijin Mining - JPMorgan highlights gold as a key profit driver for Zijin Mining, contributing 32% to gross profit in FY2024, up from 26% in FY2023, due to a 28% increase in average selling price [5] - Expected gold production for 2025 is 85 tons, a 17% year-on-year increase, with copper production projected at 1.15 million tons, an 8% increase [5] Pop Mart - Pop Mart's revenue for 2024 is projected at 13.04 billion CNY, a year-on-year increase of 106.9%, with net profit attributable to shareholders at 3.125 billion CNY, up 188.8% [5] - The CEO anticipates over 50% revenue growth in 2025 compared to 2024, with overseas and Hong Kong/Macau business expected to grow over 100% [5] Kuaishou - UBS reports that Kuaishou's Q4 performance met expectations, raising the target price from 76.4 HKD to 83.4 HKD with a "Buy" rating [5] - E-commerce growth rates are expected to be 13% and 15% for the full year and Q1, respectively, potentially outpacing overall online retail growth [5] Tencent Holdings - Tencent launched two new models of its Yuanbao, enhancing rapid response capabilities and deep thinking features [6] Alibaba - BMW Group announced a deepened strategic cooperation with Alibaba to jointly develop an AI engine based on Alibaba's Tongyi AI model for the Chinese market [6] XPeng Motors - XPeng's chairman stated that the cumulative delivery of XPeng MONA will exceed 100,000 units next week [6]