中国香港消费行业-南下交易追踪-ChinaHong Kong Consumer-Southbound Trading Tracking

Summary of Southbound Trading Tracking for China/Hong Kong Consumer Sector Industry Overview - The report focuses on the China/Hong Kong consumer sector, specifically tracking Southbound trading activities in major Hong Kong-listed consumer stocks [1][7]. Key Trends and Data - September Inflows: In September 2025, there was an increase in inflows to the 36 major HK-listed consumer stocks covered in the Shanghai/Shenzhen-Hong Kong Stock Connect. The average Southbound holdings as a percentage of free float rose by 0.9 percentage points month-over-month for the 73 major HK-listed consumer stocks eligible for Connect trading [1][2]. - Year-to-Date Performance: For the year-to-date (YTD) 2025, the average net flows from Southbound trading increased by 6.1% compared to the end of 2024. A total of 51 stocks have shown inflows, while 22 have recorded outflows [2][3]. Stock Performance - Top Stocks with Inflows: - Youran Dairy: +7.5 percentage points - Mengniu: +7.5 percentage points - Xiaocaiyuan: +6.0 percentage points - China Foods: +5.8 percentage points - MXBC: +5.5 percentage points [10]. - Top Stocks with Outflows: - Tianli Education: -5.2 percentage points - Jiumaojiu: -4.8 percentage points - Yuhua Education: -3.2 percentage points - H&H: -2.4 percentage points - ZHY: -2.0 percentage points [10]. Category Performance - Categories with Average Inflows: The report indicates that most categories, except for Apparel & Sportswear, Tobacco, Home Improvement, Toys, Education, Luggage, and Duty Free, recorded average inflows during September [10]. - Categories with Average Outflows: Alcoholic Beverages, Apparel & Sportswear, Home Improvement, Education, and Luggage recorded outflows YTD 2025, while other categories had average inflows [10]. Additional Insights - The report highlights the importance of monitoring Southbound trading as a key indicator of investor sentiment and market dynamics within the consumer sector [8]. - The data presented can serve as a valuable resource for investors looking to identify potential investment opportunities and risks in the China/Hong Kong consumer market [8][9]. Conclusion - The Southbound trading trends indicate a positive sentiment towards certain consumer stocks, while others are experiencing outflows. This information is crucial for investors to make informed decisions in the evolving market landscape [2][3][10].