港股周报（2025.3.10-2025.3.14）：政策预期积极向好，持续看好港股中概

Investment Rating - The report assigns a "Buy" rating for stocks, indicating an expected relative return of over 20% within six months [35] - The industry investment rating is "Outperform," suggesting an expected industry index increase of over 5% within the same timeframe [35] Core Insights - The Hong Kong stock market experienced fluctuations, with the Hang Seng Index dropping 1.12% to 23,960 points, while the Hang Seng Technology Index fell by 2.59% [1][13] - Positive policy expectations are noted, with the People's Bank of China indicating a potential reduction in reserve requirements and interest rates to maintain liquidity and support economic growth [1] - The automotive sector shows promising growth, with new energy vehicle penetration exceeding 35% in February, and Li Auto's delivery volume increasing by 21% year-on-year [2][8] Summary by Sections Market Overview - The Hang Seng Index closed at 23,959.98 points, reflecting a decline of approximately 1.12% during the week [13] - The market sentiment was influenced by the U.S. CPI data, which fell to 2.8%, easing inflation concerns [1][5] Company Performance - Li Auto reported a revenue of 144.5 billion yuan for 2024, a year-on-year increase of 16.6%, despite a net profit decline of 31.9% [10] - BOSS Zhipin's revenue reached 7.356 billion yuan in 2024, growing by 23.6%, with a net profit increase of 42.6% to 1.567 billion yuan [11] IPO Dynamics - Recent IPO activities include Chifeng Jilong Gold Mining raising approximately 2.822 billion HKD and Zhaogang Group raising about 15.59 million HKD [2] - Upcoming IPOs include Weisheng Pharmaceutical, planning to raise up to 745 million HKD [2] Sector Focus - Recommended stocks include technology and AI leaders such as Tencent, Kuaishou, Alibaba, and Meituan, as well as new energy vehicle manufacturers like Li Auto and Xpeng [3]