TENCENT(HK:00700) Jin Rong Jie·2025-08-14 01:49Core Viewpoint - US stock market saw a significant rise, with Chinese tech stocks surging, particularly the Nasdaq China Golden Dragon Index (HXC) which increased by 2.08% [1] Group 1: Market Performance - Tencent Holdings' ADR rose over 7%, reaching a new high not seen in more than four years, while Bilibili increased by over 6%, and companies like Li Auto and Alibaba saw gains exceeding 3% [1] - The Hong Kong stock market opened positively, with the Hong Kong Stock Connect Technology ETF (513860) rising by 1.02%, marking an increase of over 43% year-to-date [1] - Major stocks such as Kangfang Biotech, Tencent Holdings, and Oriental Selection rose by over 2%, while WuXi Biologics and Kuaishou-W increased by over 1% [1] Group 2: Fund Flows - The Hong Kong Stock Connect Technology ETF (513860) has seen net subscriptions for 18 consecutive trading days, with a total net inflow exceeding 300 million yuan in the last three days, bringing its latest scale to over 3.1 billion yuan [1] Group 3: Company Performance - Tencent Holdings reported a 15% year-on-year revenue growth in Q2, reaching 184.5 billion yuan, surpassing market expectations of 178.94 billion yuan; net profit was 55.63 billion yuan, up 17% year-on-year [1] Group 4: Market Outlook - Guotai Junan Securities predicts that the Hong Kong stock market will continue its bull run in the second half of the year, with technology being a key driver; the AI wave is expected to push Hong Kong tech leaders to outperform the market [1] - The top ten weighted stocks in the CSI Hong Kong Stock Connect Technology RMB Index account for 65.99% of the index, including Tencent Holdings, Alibaba-W, and Xiaomi Group-W [1]