North Water Trends | Beishui's net purchase of 3.395 billion, the Beishui Plus Warehouse Big Model Concept and Optical Communications Sector Continues to Sell Alibaba (09988)

The Zhitong Finance App learned that on September 3, in the Hong Kong stock market, Beishui traded a net purchase of HK$3.395 billion. Among them, Hong Kong Stock Connect (Shanghai) had a net purchase of HK$698 million and Hong Kong Stock Connect (Shenzhen) had a net purchase of HK$2,697 million.

The individual stocks that Beishui Net bought the most were Southern Hang Seng Technology (03033), Changfei Optical Cable (06869), and MINIMAX-W (00100). The individual stocks sold the most by Beishui Net were Alibaba-W (09988), Jiantao Group (00148), and SMIC (00981).

Hong Kong Stock Connect (Shanghai) active trading stocks

Hong Kong Stock Connect (Shenzhen) active trading stocks

Southern Hang Seng Technology (03033) received a net purchase of HK$528 million. BOC International believes that the global market is rising amidst uncertainty, and is concerned about the Federal Reserve's next move. The Hong Kong stock Hang Seng Index and Hang Seng Technology Index were adjusted in August after significant recovery in July. Benefiting from the recovery in liquidity, valuation repair, and profit improvement, the future may have a basis for further upward movement, waiting for favorable catalysis in the short term.

Changfei Optical Fiber Cable (06869) and Zhongji Xuchuang (03308) received net purchases of HK$463 million and HK$319 million respectively. According to the League of Nations Minsheng Securities Research Report, demand for optical modules, optical chips, and high-speed optical connectivity is expected to continue to grow as North American CSP continues to invest in AI data centers, the expansion of the scale of superimposed GPU clusters, increases in single-card connectivity bandwidth, and the accelerated upgrade from 800G to 1.6T. After the recent sector adjustments, market concerns about the slowdown in AI capital expenditure are expected to be gradually fixed, and they continue to be optimistic about the continuation of the prosperity of the optical communications industry and the rebound of the sector.

MINIMAX-W (00100) and Smart Spectrum (02513) received net purchases of HK$410 million and HK$239 million respectively. Anthropic plans to open a public prospectus after September 7. The IPO will be carried out as soon as the end of September to the beginning of October. The target valuation is 1.5 trillion to 2 trillion US dollars, and it is expected to become the largest IPO in history. If Anthropic is listed at a valuation of 2 trillion US dollars, it may systematically raise the valuation center of global models/domestic big models, bringing potential valuation repair expectations.

Xiaomi Group-W (01810) received a net purchase of HK$374 million. On September 1, Xiaomi announced the delivery data for August, and the monthly delivery volume once again exceeded 30,000 units. So far, Xiaomi has delivered more than 30,000 units per month for 5 consecutive months. Officials also revealed that every effort is being made to prepare for the launch and delivery of Xiaomi Pengcheng. This statement means that the launch conference for Xiaomi Pengcheng is nearing.

Pharmaceutical Biotech (02269) received a net purchase of HK$346 million. According to a research report, CICC raised its adjusted net profit forecast of 8% and 9.4% for 2026 and 2027, to 6.665 billion yuan and 7.9 billion yuan respectively, based on improvements in operating efficiency, maintaining the “outperforming industry” rating. Due to the recent rise in the average valuation of the H-share pharmaceutical sector, the bank raised the target price of Pharmaceuticals by 25% to HK$60.

Alibaba-W (09988) had a net sale of HK$760 million. Alibaba previously announced the placement of new shares, with a total placement amount of HK$80 billion. This is the first time Alibaba has initiated an IPO since the Hong Kong stock listing in 2019. 100% of the net proceeds from this placement will be used to invest in full-stack AI capabilities, strengthen AI infrastructure construction, and further consolidate Ali's leading position in the AI field.

Additionally, Tencent (00700) received a net purchase of HK$288 million. Meanwhile, Jiantao Laminate (01888), SMIC (00981), and Jiantao Group (00148) received net sales of HK$109 million, $148 million, and HK$183 million respectively.