资金动向 | 北水大举猛抛芯片股，连续7日加仓小米！

Group 1: Market Activity - Southbound funds net bought Hong Kong stocks worth 8.603 billion HKD on October 14, with notable purchases in Southern Hang Seng Technology (1.147 billion HKD), Xiaomi Group-W (0.923 billion HKD), Tencent Holdings (0.662 billion HKD), and others [1] - Continuous net buying of Xiaomi for 7 days, totaling 5.63234 billion HKD [4] - Continuous reduction in holdings of SMIC and Alibaba for 4 days, amounting to 6.58659 billion HKD and 4.97935 billion HKD respectively [5] Group 2: Company Performance and Predictions - Tencent Holdings is expected to report stable performance for Q3 on November 13, with projected revenue and profit growth of 13.5%, 20.9%, and 16.9% year-on-year, driven by strong gaming performance and AI-driven advertising technology [5] - Crystal Technology is recognized as a pioneer in the frontier technology sector, with projected revenues of 0.781 billion, 1.093 billion, and 1.496 billion CNY from 2025 to 2027, indicating significant growth potential [6] - Alibaba's capital expenditure forecast for FY2026-28 has been significantly raised to 460 billion CNY, with expectations of AI cloud computing breakthroughs and international expansion contributing to stock price growth [7] Group 3: Sector Insights - The Chinese government's export controls on rare earth elements are seen as beneficial for local semiconductor companies, including SMIC, as they push for domestic alternatives [7] - The impact of tariffs on Chinese innovative pharmaceutical companies is expected to be limited, with a focus on licensing and overseas company setups to navigate international markets [8]