Core Insights - The Hong Kong stock market experienced a collective decline after a high opening, with the Hang Seng Tech Index dropping over 0.5% [1] - Southbound capital has seen a net inflow exceeding 94 billion HKD this year, primarily directed towards artificial intelligence and new consumption sectors, indicating a positive trend for the Hong Kong stock market [2] Group 1: Market Performance - The Hang Seng Tech Index ETF (513180) followed the index's downward trend, with major holdings like XPeng Motors, BYD Electronics, Li Auto, Kingdee International, and NIO showing significant declines [1] - The report from Tianfeng Securities highlights the ongoing structural inflow of southbound funds, suggesting a focus on internet, consumption, and smart driving industry trends [1] Group 2: Company Earnings - Tencent reported Q2 revenue of 184.5 billion CNY, a 15% year-on-year increase, with gross profit rising to 105 billion CNY, up 22% [1] - JD.com achieved Q2 revenue of 356.7 billion CNY, a 22.4% year-on-year increase, surpassing market expectations and setting a record for growth in nearly three years, with net profit attributable to ordinary shareholders at 6.2 billion CNY [1] Group 3: Investment Opportunities - The Hang Seng Tech Index ETF (513180) includes 30 leading Hong Kong tech companies, focusing on the AI industry chain, with potential key players like Alibaba, Tencent, Meituan, SMIC, and BYD being identified as the "Seven Giants" of Chinese tech stocks [2] - Investors without a Hong Kong Stock Connect account can access Chinese AI core assets through the Hang Seng Tech Index ETF (513180) [2]