Beishui Movement | Beishui's net buying volume is 1.794 billion, Beishui funds are bottom fishing for coal stocks, CNOOC is being sold off

According to the Zhitong Finance and Economics APP, on August 20th, in the Hong Kong stock market, Beishui had a net purchase of HKD 1.794 billion. Among them, the net purchase through the Shanghai-Hong Kong Stock Connect was HKD 1.26 billion, and the net purchase through the Shenzhen-Hong Kong Stock Connect was HKD 534 million.

The top three stocks with the highest net purchases by Beishui were Yingfu Fund (02800), Xiaomi Corporation-W (01810), and Juzi Biotech (02367). The top three stocks with the highest net sales by Beishui were CNOOC (00883), China Construction Bank (00939), and Li Auto-W (02015).

Active trading stocks through the Shanghai-Hong Kong Stock Connect

Active trading stocks through the Shenzhen-Hong Kong Stock Connect

Yingfu Fund (02800) received a net purchase of HKD 482 million. On the news front, Zhongjin released a research report stating that after the gradual stabilization of the current volatility, the more certain expectation of interest rate cuts bringing about loose liquidity is expected to take effect, which will also help support the performance of Hong Kong stocks. Under the benchmark situation, the market will have support, showing more elasticity than A-shares in the short term, but still more reflected as a structural market in the oscillation.

Juzi Biotech (02367) received a net purchase of HKD 104 million. On the news front, Juzi Biotech announced its interim performance, with revenue of approximately 2.54 billion yuan, a year-on-year increase of 58.2%; adjusted net profit of approximately 1.027 billion yuan, a year-on-year increase of 51.8%. Guosen Securities pointed out that as a leading collagen company, the company has established a deep brand awareness of restructured collagen through years of deep cultivation, relying on the steady growth of core classic single products to support the fundamentals of the Canmake and Collagen brands. At the same time, the continuous volume growth of new products in the future is expected to drive performance to continue to explode. The expected approval of future medical beauty products will also contribute a new engine to the company's medium and long-term growth.

Beishui funds are bottoming out to absorb coal stocks, with China Shenhua (01088), China Coal Energy (01898), and Yanzhou Coal Mining (01171) receiving net purchases of HKD 85.71 million, 70.12 million, and 46.94 million respectively. On the news front, Minsheng Securities pointed out that the "darkest moment" for thermal coal has passed at the current point in time, with the high growth rate of hydropower no longer squeezing, the year-on-year growth rate of thermal power turning positive, tight supply in the port spot market may lead to subsequent shortages of goods, providing support for coal prices. The marginal improvement in non-electric demand at the end of August may have a boosting effect The coal sector's performance has been gradually released, with most companies reporting a year-on-year decline in their interim results due to the downward shift in coal prices. However, under the management assessment of central state-owned enterprises, some companies have started interim dividends. It is recommended to pay attention to the sector's dividend value.

China General Nuclear Power Corporation (01816) received a net purchase of HKD 44.96 million. In terms of news, the State Council has approved five nuclear power projects. CITIC Securities stated that the State Council has approved projects including the first phase of the Xuhui project in Jiangsu, with the expectation that approvals will be finalized within the year. China General Nuclear Power Corporation announced that its 6 nuclear power units have received approval from the State Council. Guotai Junan Securities believes that China's nuclear power development is showing improvement at the margin. Both the investment in nuclear power sources and the capital expenditure of China's nuclear power are on the rise, driving the growth of the country's nuclear power equipment industry.

Tencent Holdings (00700) received a net purchase of HKD 42.64 million. In terms of news, the domestic game "Black Myth: Wukong" officially went online at 10 a.m. today. It is reported that "Black Myth: Wukong" was developed by Game Science, with Tencent strategically investing in and holding 5% of Game Science, while the game publisher is Zhejiang Publishing Media. According to institutional estimates, if the first-week sales (including pre-sales) of "Black Myth: Wukong" reach 4-5 million copies, the total sales may have the opportunity to exceed 20 million copies, challenging to enter the global top sales list.

Yancoal Australia (03668) suffered a net sale of HKD 55.10 million. In terms of news, Yancoal Australia announced its first-half performance, with operating revenue of AUD 3.138 billion, a 21% year-on-year decrease; net profit attributable to shareholders after tax was AUD 420 million, a 57% year-on-year decrease; no interim dividend will be distributed. Morgan Stanley stated that Yancoal Australia's interim performance fell short of expectations. Despite having strong cash flow, the company's decision not to distribute an interim dividend is disappointing and may have a negative impact on the market.

XPeng Inc. (02015) suffered a net sale of HKD 67.11 million. In terms of news, Macquarie released a research report stating that although the sales performance of Chinese electric vehicles in the second quarter was strong, with sales increasing by 31% year-on-year to 2.7 million units, most brands are adjusting their product mix, which may put pressure on the profit margins of hybrid models. It is expected that R&D expenses for most car companies in the second quarter will increase, but sales growth should help drive operational leverage. To account for profit margins, Macquarie lowered XPeng's target price from HKD 94 to HKD 90, with sales forecasts for 2025 and 2026 being reduced by 8% and 4% respectively to 682,000 and 869,000 units.

CNOOC Limited (00883) suffered a net sale of HKD 175 million. In terms of news, Morgan Stanley published a research report indicating that the high-yield investment theme in China's energy industry remains solid, with companies shifting resources from expanding business scale to enhancing shareholder returns. Based on the bank's assumption that Brent crude oil may fall to USD 60 per barrel under stress testing, even if oil prices further adjust, it is believed that Chinese oil companies still have the ability to maintain an attractive dividend yield. The bank lowered its target price for the three oil giants.

In addition, Xiaomi Corporation (01810) and China Mobile Limited (00941) received net purchases of HKD 199 million and HKD 19.80 million respectively. Meanwhile, China Construction Bank Corporation (00939) suffered a net sale of HKD 152 million