OmniVision Integrated Circuits Group(SH:603501) BOCOM International·2025-07-02 06:24Overview - The report indicates that the Hong Kong stock market is currently in a favorable window due to multiple positive factors, with the technology sector expected to be a key driver for the next round of market uptrend [3][4][6]. Macro Environment - External conditions are stabilizing, with geopolitical factors being generally controllable and limited spillover risks. The pause in tariff negotiations until July and August provides a buffer for the market [6]. - The liquidity environment is favorable, with short-term liquidity in the Hong Kong market being abundant, which is expected to support stock market growth [6]. Sector Insights Financial Sector - China Pacific Insurance (2601HK) is highlighted as a buy recommendation due to its low valuation and high investment cost-effectiveness. The target price is set at 32.00, indicating a potential upside of 19.2% [8][9]. Real Estate Sector - Link REIT (823HK) is recommended as a buy, with a target price of 47.70, reflecting a potential increase of 13.8%. The company is expected to maintain stable dividends and benefit from the easing of interest rates [15][16]. Technology Sector - OmniVision Technologies (603501CH) is identified as a buy with a target price of 180.00, suggesting a potential upside of 41.0%. The company is positioned to benefit from the domestic semiconductor supply chain and rising demand in the automotive sector [22][24]. Internet Sector - Tencent (700HK) is also recommended as a buy, with a target price of 604.00, indicating a potential upside of 20.1%. The company is expected to see stable performance across its various business lines, with a projected revenue growth of 9.6% in 2025 [32][34]. Automotive Sector - XPeng Motors (9868HK) is highlighted as a buy with a target price of 134.69, indicating a potential upside of 90.8%. The company is expected to achieve breakeven due to strong new vehicle cycles and improved margins [38][40]. Healthcare Sector - 3SBio (1530HK) is recommended as a buy, with a target price of 27.00, suggesting a potential upside of 14.2%. The company is expected to benefit from the launch of new products and strong sales growth [45][47]. Consumer Sector - Pop Mart (9992HK) is identified as a buy with a target price of 300.00, indicating a potential upside of 12.5%. The company is experiencing strong growth driven by its core IP products [52][54]. Conclusion - The report emphasizes that the Hong Kong stock market is poised for a broader uptrend, particularly in the technology sector, contingent on stronger fundamental support and policy catalysts [4][6].