Core Viewpoint - The Hong Kong stock market experienced a net sell-off of 11.39 billion HKD from northbound trading, with significant variations between Shanghai and Shenzhen stock connect transactions [1] Group 1: Northbound Trading Activity - Northbound trading saw a net buy of 16.94 billion HKD through Shanghai Stock Connect and a net sell of 28.33 billion HKD through Shenzhen Stock Connect [1] - The most bought stocks included Meituan-W (03690), China Construction Bank (00939), and Innovent Biologics (01801) [1] - The most sold stocks included the Tracker Fund of Hong Kong (02800), Tencent (00700), and Xiaomi Group-W (01810) [1] Group 2: Stock-Specific Insights - Meituan-W (03690) received a net buy of 8.42 billion HKD, with expectations of a 30.6% year-on-year increase in adjusted net profit for Q1 2025 [4] - China Construction Bank (00939) and Bank of China (03988) saw net buys of 6.22 billion HKD and 1.97 billion HKD, respectively, following a reduction in deposit rates [5] - Innovent Biologics (01801) had a net buy of 4.11 billion HKD, with promising data from the 2025 ASCO conference [5] - Xpeng Motors-W (09868) received a net buy of 2.88 billion HKD, with expectations of improved profit margins in Q2 [6] - Xiaomi Group-W (01810) faced a net sell of 6.53 billion HKD amid product announcements and market speculation [6] - Tencent (00700) experienced a net sell of 15.64 billion HKD, despite stable Q1 performance and long-term growth strategies in AI [7] - The Tracker Fund of Hong Kong (02800) saw a significant net sell of 23.24 billion HKD, attributed to a lack of market catalysts [7]