Zhong Guo Ji Jin Bao·2025-05-30 11:08Group 1 - BYD's stock price opened lower and experienced a maximum drop of 4.88%, closing at 392.80 HKD per share, down 3.25% [9] - The Hang Seng Index fell by 1.2% to 23,289.77 points, ending a six-week rally, with a weekly decline of 1.32% and a monthly increase of 5.29% [2] - The technology sector faced significant pressure, with BYD Electronics dropping 6.03% and other major tech stocks also declining [6][7] Group 2 - Li Yunfei, General Manager of BYD Group's Brand and Public Relations, criticized claims that BYD is the "Evergrande of the automotive industry," asserting that Chinese automakers have better asset-liability situations than foreign counterparts [9][10] - Li highlighted that the asset-liability ratio of BYD is 70%, which is lower than that of several major global companies, including Ford and General Motors [10] - The company plans to pursue legal action against those spreading negative narratives about its financial health [9][10] Group 3 - Consumer and technology stocks led the declines, with notable drops in companies like Tingyi and NetEase, while innovative drug concept stocks rose against the trend [4][6] - The overall market turnover reached 271.6 billion HKD, with net inflows from southbound funds amounting to 9.647 billion HKD [2] - The Hang Seng Technology Index fell by 2.48%, reflecting the broader market's struggles [2][7] Group 4 - The report from CITIC Securities indicated that the Hong Kong stock market is entering a technology bull market era, driven by structural changes and the influx of high-quality Chinese tech companies [8] - The report anticipates rapid development in the Hong Kong market over the next three years, positioning it as a strategic hub for global capital allocation in Chinese tech assets [8]