智通财经网·2025-07-30 10:06Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced significant net inflows from northbound capital, with a total net buy of 11.714 billion HKD on July 30, 2023, indicating strong investor interest in certain stocks while others faced net sell-offs [1]. Group 1: Stock Performance - The top net bought stocks included Li Auto-W (02015), CSPC Pharmaceutical Group (01093), and Meituan-W (03690) [1]. - The most net sold stocks were SMIC (00981), Innovent Biologics (01801), and Guotai Junan International (01788) [1]. - Li Auto-W saw a significant net buy of 20.93 billion HKD despite a nearly 13% drop in its stock price, following the launch of its first pure electric SUV, the i8 [4]. Group 2: Capital Flows - Tencent Holdings had a net buy of 4.36 billion HKD, while Alibaba-W experienced a net buy of 1.76 billion HKD [2]. - CSPC Pharmaceutical Group received a net buy of 8.72 billion HKD, while Innovent Biologics faced a net sell of 1.21 billion HKD [5]. - The technology sector saw net sell-offs for major players like Meituan-W, Alibaba-W, and Tencent, with net sells of 4.47 billion HKD, 3.57 billion HKD, and 1.83 billion HKD respectively [6]. Group 3: Market Sentiment and Future Outlook - HSBC's report indicates that the innovative drug sector has outperformed the market, with expectations for multiple new drug launches between 2026 and 2029 [5]. - The semiconductor sector, particularly SMIC, is facing negative sentiment due to reduced orders from major IC design firms, impacting profitability [7]. - The collaboration between Giant Legend (06683) and Yushu Technology aims to develop consumer-grade robotic products, indicating a strategic move towards innovation in the tech sector [6].