Ge Long Hui·2025-11-13 12:20Group 1: Market Activity - Southbound funds recorded a net sell of HKD 35.21 billion in Hong Kong stocks on November 13, with notable net purchases in Alibaba-W (HKD 13.75 billion) and Xiaomi Group-W (HKD 7.79 billion) [1] - The net sell included significant amounts in the Tracker Fund of Hong Kong (HKD 62.27 billion), Hang Seng China Enterprises (HKD 22.89 billion), Tencent Holdings (HKD 8.75 billion), and others [1] Group 2: Company Developments - Alibaba is reportedly preparing a major overhaul of its flagship AI application, launching the "Qianwen" project to develop a personal AI assistant app, aiming to compete with ChatGPT [4] - Tencent Holdings reported Q3 2025 revenue of RMB 192.87 billion, a 15% year-on-year increase, with a gross profit of RMB 108.80 billion, reflecting a 22% year-on-year growth [4] - The gross margin improved from 53% to 56% year-on-year, with net profit attributable to shareholders reaching RMB 63.13 billion, up 19% year-on-year [4] Group 3: Industry Insights - According to China Galaxy Securities, the pharmaceutical sector has shown significant structural recovery, with ongoing innovation in drug development expected to boost valuations [4] - Lithium carbonate futures prices have risen by 20% from October 14 to November 10, driven by high production levels in the lithium iron phosphate sector [5] - JPMorgan has upgraded the ratings of Tianqi Lithium and Ganfeng Lithium from "underweight" to "neutral," anticipating a supply shortage in the global lithium market in 2025 and 2026, leading to a significant increase in lithium price forecasts [5]