10月港股金股：震荡上行中

Group 1 - The report indicates that despite short-term adjustments in the Hong Kong stock market, it remains in a trend of oscillating upward with a solid bottom [1] - The report maintains a positive outlook on AI technology, suggesting that while US tech giants may influence the trading rhythm of Hong Kong's AI sector, the acceleration of China's AI progress offers recovery potential for leading tech stocks in Hong Kong [2] - The report emphasizes a focus on cyclical recovery, with the market awaiting guidance from the Fourth Plenary Session and the 15th Five-Year Plan, suggesting tactical trading in cycles and consumption [2] Group 2 - The report lists a selection of "golden stocks" for October, including Alibaba, Kuaishou, Xiaopeng Motors, and others, with detailed financial metrics such as market capitalization, EPS, and PE ratios for 2026 and 2027 [2][6] - Alibaba is highlighted for its strong cloud business growth driven by AI, with significant investments in AI infrastructure expected to enhance its competitive edge and maintain high margins [9][10] - Kuaishou is recognized for its advancements in AI video generation technology, positioning it as a leading player in the domestic market [16][17] Group 3 - Xiaopeng Motors is projected to achieve substantial revenue growth, with expected revenues of 830 billion, 1494 billion, and 2229 billion RMB for 2025, 2026, and 2027 respectively, alongside a path to profitability by 2026 [23] - The report discusses the strategic focus of Xiaopeng Motors on building a platform-based technology foundation to enhance its competitive advantage in the electric vehicle market [27] - The report anticipates that the Robotaxi business of Cao Cao Mobility will benefit from the ongoing transformation of the ride-hailing market, with projected revenues of 206.7 billion, 262.4 billion, and 323.7 billion RMB for 2025 to 2027 [30] Group 4 - Horizon Robotics is noted for its leadership in automotive intelligent driving solutions, with a significant market opportunity as the penetration of high-level autonomous driving increases [35] - The report highlights the commercial potential of the pharmaceutical company Kelun-Biotech, with ongoing clinical trials and product registrations expected to drive growth [41] - The report emphasizes the robust pipeline and financial health of Hutchison China MediTech, with expectations for revenue growth driven by successful commercialization of existing products [51][52] Group 5 - China Petroleum & Chemical Corporation is positioned to benefit from regulatory changes aimed at standardizing and scaling the refining industry, with expectations for improved cash flow and dividend yield [70][74] - The report discusses the food and beverage company Guoquan's strategic expansion into rural markets, with plans to open 1,000 new stores, reflecting a strong growth trajectory [78][79]