BABA(US:BABA) Ge Long Hui·2025-06-09 08:14Group 1: Market Overview - The Hang Seng Tech Index underwent a quarterly review on June 9, successfully including BYD in its constituent stocks while removing Yueda Group, maintaining a total of 30 stocks [1] - The index now features the "Magnificent 7" tech giants, which include Xiaomi, Lenovo, BYD, SMIC, Alibaba, Tencent, and Meituan, attracting investor attention [1] - The Hong Kong market has experienced significant fluctuations due to factors like DeepSeek and tariffs, showing an "N" shaped trend [1] Group 2: Investment Outlook - Chinese core assets are moving upstream in the value chain, with the tech sector expected to provide highly competitive products, leading to a trend of foreign capital returning to Chinese assets [2] - The Hang Seng Tech Index ETF (513180) combines hard tech and new consumption attributes, showing resilience amid external disturbances [2] - The main investment themes are consumption and technology, with over half of the index's weight in sectors like e-commerce, automotive, and consumer electronics [2] Group 3: Company-Specific Insights - Xiaomi (1810 HK): Expected to benefit from AI implementation, with a focus on new car releases and steady growth in smartphone margins and market share [3] - Lenovo (992 HK): Anticipated growth in AI-driven PC and smartphone demand, with advantages in supply chain resilience and expansion in the Middle East [4] - BYD (1211 HK): Projected to achieve global sales of 4.27 million vehicles in 2024, a 41% year-on-year increase, with a focus on smart vehicle transformation [4] - SMIC (981 HK): Positioned as a major beneficiary of global supply chain restructuring, with strong demand for localized production [5] - Alibaba (BABA US/9988 HK): Expected to lead in cloud services driven by AI demand, with a focus on enhancing e-commerce market share [5] - Tencent (700 HK): Anticipated growth in social advertising and gaming through AI integration, with a focus on commercializing AI in the cloud [6] - Meituan (3690 HK): Expected to see growth in the local consumption market, with significant profit potential from its delivery and retail strategies [6]