KINGSOFT(HK:03888) Jin Rong Jie·2025-04-30 03:20Group 1 - The core viewpoint of the articles highlights the rising interest in AI-related stocks in the Hong Kong market, with significant gains observed in companies like Kingsoft, Xiaomi, and SenseTime [1][3] - Global long-term funds are reportedly buying into Hong Kong stocks, with a net inflow of $68.079 billion into global equity funds and $24.686 billion specifically into Chinese stock funds from March 27 to April 23 [1][3] - The Hong Kong Technology 50 ETF has seen a substantial increase in its share volume, growing over 300% year-to-date, indicating strong investor interest [1][3] Group 2 - The valuation of Hong Kong technology stocks is at historically low levels, with the Hong Kong Technology 50 ETF tracking a price-to-earnings ratio of 21.6, which is below the 4% historical percentile [3] - Major Chinese tech companies, such as Tencent and Alibaba, are leading in AI technology development and application across various sectors, including smart vehicles and healthcare [3][4] - The article outlines various sectors within the AI application chain, highlighting key companies involved in smart hardware, robotics, and industry solutions, showcasing the breadth of AI integration in the Hong Kong market [4] Group 3 - The Hang Seng Index and Hang Seng Tech Index are expected to remain stable, supported by the ongoing AI narrative, with investment strategies focusing on defensive assets and policy-driven sectors [4] - Investment opportunities are identified in high-dividend assets from state-owned enterprises, infrastructure-related sectors, and consumer goods benefiting from policy stimulus [4]