Sou Hu Cai Jing·2025-06-24 12:22Group 1: Market Activity - Southbound funds net bought Hong Kong stocks worth 25.89 billion HKD on June 24, with notable net purchases in Meituan-W (7.85 billion HKD), SMIC (7.23 billion HKD), and China Construction Bank (6.93 billion HKD) [1] - Continuous selling trends were observed, with Southbound funds net selling Tencent for 18 consecutive days, totaling 196.752 billion HKD, and Alibaba for 5 consecutive days, totaling 27.4993 billion HKD [3] Group 2: Company-Specific Developments - Meituan-W is reportedly shutting down operations in certain regions, focusing on key areas like Guangdong and Hangzhou, with plans to expand its flash purchase and supermarket services [4] - Xinda Biologics' IBI343 product has been proposed for inclusion as a breakthrough therapy for specific cancer types, indicating potential growth in its product pipeline [4] - JPMorgan's report on Pop Mart suggests that despite regulatory scrutiny on blind boxes, the company's target demographic remains unaffected, presenting a buying opportunity [5] - Daiwa's report on Xiaomi Group highlights the company's IoT business diversification and long-term growth potential, raising its 12-month target price from 70 HKD to 78 HKD [5] - China National Offshore Oil Corporation (CNOOC) faces challenges as international oil prices have significantly dropped, with WTI and Brent crude futures falling by 7.22% and 7.18% respectively [5] - Tencent Holdings repurchased 985,000 shares for approximately 500 million HKD, marking its 27th consecutive day of buybacks [5]