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港股开盘 | 港股三大指数集体低开 华泰证券:港股回调带来结构性机会
智通财经网·2025-08-04 01:41

Market Overview - The Hong Kong stock market opened lower on August 4, with the Hang Seng Index down 0.31%, the Hang Seng Tech Index down 0.66%, and the China Enterprises Index down 0.35% [1] - Technology stocks showed mixed performance, with NetEase slightly up by 0.1% and Alibaba down over 1% [2] Market Strategy and Analysis - Huatai Securities reported that the recent pullback in the Hong Kong stock market is mainly due to adjustments in internal and external expectations, but the medium-term liquidity easing logic remains unchanged. They recommend focusing on sectors with improving sentiment and low valuations, particularly in technology [3] - Guosen Securities noted that the funding environment for Hong Kong stocks this year has been characterized by a resonance of both domestic and foreign capital easing. They believe that Hong Kong stocks remain within a reasonable valuation range compared to A-shares, with significant recovery potential in technology and pharmaceutical sectors [3] - Dongwu Securities expressed concerns about rising overseas risks, including the potential for reduced global capital interest in Chinese assets due to rising dollar assets and the nearing deadline for tariff negotiations [3] - CITIC Securities indicated that there is an increasing confidence trend in certain sub-sectors, with earnings expectations being revised upward ahead of earnings reports. They highlighted that while technology stocks have seen slight downward adjustments in earnings expectations, sectors like new energy vehicles and semiconductors show significant potential for earnings elasticity [4] - Ping An Securities (Hong Kong) remains optimistic about the long-term outlook for the Hong Kong stock market, emphasizing low valuations and active trading under the "profit-making effect." They suggest focusing on technology sectors such as artificial intelligence, robotics, and innovative pharmaceuticals [4] Company News - PCCW reported a revenue of HKD 18.922 billion for the first half of the year, a year-on-year increase of 7%, with a net loss of HKD 0.445 billion, narrowing by 4% [6] - Xinyi Solar reported a revenue of HKD 10.932 billion, a year-on-year decrease of 6.5%, with a net profit of HKD 0.746 billion, down 58.8% [6] - Xinyi Glass reported a revenue of HKD 9.821 billion, a year-on-year decrease of 9.7%, with a net profit of HKD 1.013 billion, down 59.6% [6] - Xinyi Energy reported a revenue of HKD 1.21 billion, a year-on-year increase of 7.7%, with a net profit of HKD 0.45 billion, up 23.4% [6] - Derun Shipping announced a profit warning, expecting a mid-term net profit of approximately USD 180-200 million, a year-on-year increase of about 220% to 255% [6] - BYD reported sales of approximately 2.4903 million new energy vehicles in the first seven months, a year-on-year increase of 27.35% [6] - Great Wall Motors reported total vehicle sales of approximately 674,200 units in the first seven months, a year-on-year increase of 3.57% [6] - Li Auto delivered 30,731 new vehicles in July [6]