港股早参丨中芯国际中期归母净利约3.2亿美元 同比增长35.6%

Market Overview - On August 28, Hong Kong's three major indices closed lower, with the Hang Seng Index down 0.81% at 24,998.82 points, the Hang Seng Tech Index down 0.94% at 5,644.02 points, and the National Enterprises Index down 1.15% at 8,916.93 points [1] - Technology stocks generally declined, while semiconductor company SMIC saw a significant increase of over 10.5% to reach a new high [1] - Notable individual stock movements included Meituan dropping over 12.5% post-earnings, JD.com down over 5%, Alibaba down over 4.5%, and Tencent down nearly 1% [1] Southbound Capital - On August 28, southbound capital recorded a net outflow of 20.441 billion HKD; however, the cumulative net inflow for the year reached 966.952 billion HKD, significantly exceeding last year's total [2] U.S. Market Performance - U.S. stock indices experienced slight gains overnight, with the Dow Jones up 0.16%, the S&P 500 up 0.32%, and the Nasdaq up 0.53%, with both the Dow and S&P 500 reaching new closing highs [3] - Notable performers included Cisco and Salesforce, both rising over 1%, while Chinese concept stocks showed mixed results, with Ctrip up nearly 15% and Newegg down over 18% [3] - The Hang Seng Index ADR increased, closing at 25,119.75 points, up 120.93 points or 0.48% compared to the Hong Kong market close [3] Company Earnings Reports - Li Auto reported Q2 2025 earnings of 30.2 billion RMB, a 16.7% increase from Q1, with a net profit of 1.1 billion RMB, up 69.6%, marking 11 consecutive quarters of profitability [4] - SMIC disclosed mid-year results showing revenue of 4.456 billion USD, a 22% year-on-year increase, with wafer foundry revenue at 4.229 billion USD, up 24.6% [4] - The company's gross profit reached 956 million USD, a substantial increase of 89.3%, and net profit attributable to shareholders was 321 million USD, up 35.6% year-on-year [4] Short Selling Data - On August 28, a total of 638 Hong Kong stocks were short-sold, with total short selling amounting to 47.967 billion HKD [5] - The top three stocks by short selling amount were Meituan at 7.124 billion HKD, Alibaba at 3.441 billion HKD, and BYD at 2.348 billion HKD [5] Institutional Insights - Huaxi Securities noted that the significant decline in internet stocks may be related to Meituan's disappointing earnings report [6] - Notable inflows were observed in SMIC and Huahong, with net inflows of 892 million HKD and 464 million HKD respectively, indicating continued investor interest in self-sufficient technology [6] - Despite the declines in Meituan and Alibaba, which saw net inflows of 333 million HKD and 330 million HKD respectively, there is potential for a rebound in internet stocks as pessimistic expectations may have been fully priced in [6] ETF Insights - The Hong Kong Consumption ETF (513230) focuses on e-commerce and new consumption sectors, which are relatively scarce compared to A-shares [7] - The Hang Seng Tech Index ETF (513180) includes core AI assets and leading technology firms, also relatively scarce compared to A-shares [8]