Xin Lang Cai Jing·2025-07-07 02:57Group 1 - The core viewpoint of the articles highlights the ongoing investment opportunities in the Hong Kong technology sector, particularly through the Hang Seng Technology ETF and the Hong Kong Stock Connect Technology 30 ETF, which are seen as undervalued with potential for recovery and growth [4][5][19] - The Hang Seng Technology ETF (513260) has a PE-TTM of approximately 20 times, which is 9% lower than the historical average since July 27, 2020, indicating a high potential for valuation recovery [5] - The Hong Kong Stock Connect Technology 30 ETF (520980) has a PE-TTM of about 21 times, positioned at the 17th percentile over the past decade, suggesting a lower valuation level and higher safety margin [5] Group 2 - Recent data shows that the top ten technology-related stocks in the Hong Kong market have a PE-TTM of 27.34 times and a PS-TTM of 6.24 times, indicating a theoretical upside of 54.7% and 100.55% compared to their U.S. counterparts [6] - Southbound capital has significantly supported liquidity in the Hong Kong market, with over 730 billion HKD flowing into the technology sector in the first half of 2025, marking a record high for net purchases [10] - The Hang Seng Technology ETF and the Hong Kong Stock Connect Technology 30 ETF have seen significant net purchases from southbound funds, with net buying amounts reaching 52 billion HKD for SMIC, 12 billion HKD for Meituan, and 10 billion HKD for XPeng Motors [15] Group 3 - Recent policies have increasingly supported the development of technology companies in Hong Kong, focusing on key areas such as chips and software, with the 2025 work report emphasizing "new productive forces" as a priority for economic development [16] - Analysts predict that the EPS of the Hang Seng Technology Index will rise annually from 320 HKD in 2025 to 459 HKD in 2027, indicating a potential "valuation recovery" and "earnings growth" scenario [16] - The Hang Seng Technology ETF (513260) is noted for having the lowest management fee in the market at 0.15%, making it an attractive option for investors looking to enter the Hong Kong technology sector [19]