智通财经网·2025-06-09 08:21Group 1: Market Overview - The Hang Seng Tech Index has officially implemented its quarterly review on June 9, with BYD (01211) successfully included in the constituent stocks, maintaining a total of 30 stocks after removing the Reading Group [1] - The "Magnificent 7" tech giants, including Apple, Google, Amazon, Microsoft, Meta, Tesla, and Nvidia, have become core assets in the US tech stock market, with a similar focus on Chinese tech core assets such as Xiaomi, Lenovo, BYD, SMIC, Alibaba, Tencent, and Meituan [1] - The Hong Kong stock market has experienced significant fluctuations due to various factors, including DeepSeek and tariffs, and has shown an "N" shaped trend [1] Group 2: Investment Opportunities - Chinese core assets are moving upstream in the value chain, with the tech industry providing highly competitive products, indicating a trend of foreign capital returning to Chinese assets [2] - The Hang Seng Tech Index ETF (513180) combines hard tech and new consumption attributes, focusing on AI core assets and consumer sectors, which are expected to drive significant investment opportunities [2] - The technology core assets in the Hong Kong market are anticipated to become a "blue-chip engine," leading to a revaluation of more core assets and reshaping the industrial landscape [2] Group 3: Company-Specific Insights - Xiaomi (01810) is a major beneficiary of edge AI implementation, with expectations for new car releases and steady growth in smartphone margins and market share [3] - Lenovo (00992) is expected to benefit from AI investments driving demand for PCs and growth opportunities in emerging markets like the Middle East [4] - BYD (01211) is focusing on smart transformation in electric vehicles, aiming for a global sales target of 5.5 million units by 2025 [4] - SMIC (00981) is positioned as a key beneficiary of global supply chain restructuring, with strong demand for localized production [5] - Alibaba (BABA US/09988) is set to benefit from the surge in AI demand, with expectations for a revaluation of its cloud services and e-commerce market share [5] - Tencent (00700) is leveraging AI to enhance social advertising and gaming, with potential for significant growth in its cloud services [6] - Meituan (03690) is focusing on local consumption, with growth opportunities in the takeaway market and recovery in its in-store business [6]