Group 1 - The Hong Kong stock market indices continued to rise, with tech stocks and mobile game stocks leading the gains, while insurance stocks and stablecoin concepts were also active [1] - The Hang Seng Tech Index ETF (513180) saw a strong increase, rising over 2.5%, with notable gains from stocks like NIO, Kuaishou, Baidu, Tencent, and Kingdee, particularly NIO which rose over 10% [1] - NIO's strong stock performance is attributed to the pre-sale of its new model, the L90, which started on July 10, with prices starting at 279,900 yuan for full purchase and 193,900 yuan for battery rental [1] Group 2 - NIO plans to launch the L90 officially on July 31, with test drives starting on July 23 across 140 cities and over 400 stores, preparing nearly 600 test drive vehicles [1] - According to recent reports, NIO delivered 24,925 new cars in June, a year-on-year increase of 17.5%, and for the second quarter of 2025, deliveries reached 72,056 units, a quarter-on-quarter increase of 71.2% [1] - The introduction of the L90 is expected to enhance the product lineup of the NIO brand and boost sales [1] Group 3 - As of July 22, the latest valuation of the Hang Seng Tech Index ETF (513180) was 21.14 times, which is in the historical undervalued range, being lower than 82% of the time since the index was launched on July 27, 2020 [2] - The index's characteristics of high elasticity and high growth potential suggest greater upward momentum [2] - Investors without a Hong Kong Stock Connect account can consider the Hang Seng Tech Index ETF (513180) for exposure to leading tech stocks in Hong Kong [2]

Group 1 - The Hong Kong stock market indices collectively rose, with notable performances in electric equipment, building materials, and steel sectors, while technology stocks showed mixed results [1] - NIO's sub-brand, Ladao, launched its second model, Ladao L90, which is positioned as a family-oriented pure electric large SUV, expected to be a game-changer in the market due to its competitive pricing and features [1] - The Ladao L90 has received positive consumer interest, with NIO planning to enhance visibility through display vehicles in major shopping malls and test drive opportunities across the country [1] Group 2 - As of July 18, the Hang Seng Technology Index ETF (513180) is valued at a price-to-earnings ratio (PETTM) of 20.84, indicating it is in a historically low valuation range, below 85% of the time since its inception [2] - The current low valuation of the index suggests potential upward momentum due to its high elasticity and growth characteristics, making it an attractive option for investors without a Hong Kong stock connect account [2]