Northbound funds | Northbound trading net buy 9.83 billion yuan, Northbound continues to rush for KNOWLEDGE ATLAS (02513) with net buy amount close to 10 billion Hong Kong dollars in two days.

On July 9, in the Hong Kong stock market, Beishui had a net buying of 9.83 billion Hong Kong dollars. Among them, the net buying of Hong Kong Stock Connect (Shanghai) was 3.248 billion Hong Kong dollars, and the net buying of Hong Kong Stock Connect (Shenzhen) was 6.583 billion Hong Kong dollars. The stocks with the most net buying by Beishui were KNOWLEDGE ATLAS (02513), BABA-W (09988), and Hua Hong Grace Semiconductor (01347). The stocks with the most net selling by Beishui were TRACKER FUND OF HONG KONG (02800) and Tencent (00700). Active trading stocks in the Hong Kong Stock Connect (Shanghai) Active trading stocks in the Hong Kong Stock Connect (Shenzhen) KNOWLEDGE ATLAS (02513) received a net buying of 5.574 billion Hong Kong dollars. The two-day net buying amount has approached 10 billion Hong Kong dollars. On July 9, KNOWLEDGE ATLAS announced the completion of a 31.41 billion Hong Kong dollar placement, with the proceeds mainly used for pedestal model research and development, computing power infrastructure construction, commercial expansion, and global ecological layout. Against the backdrop of the accelerating global large model competition, this financing will provide more resources for KNOWLEDGE ATLAS' next stage of model research and technological investment. BABA-W (09988) received a net buying of 2.205 billion Hong Kong dollars. Alibaba communicated with institutional investors about the financial report for the first quarter of the 2027 fiscal year. Alibaba Cloud's revenue is expected to grow by around 45% year-on-year, well exceeding market expectations of 40%. Alibaba Cloud's EBITA margin has improved to low double digits, fulfilling the previous guidance. Alibaba Cloud revenue growth is expected to reach 45%, marking the highest single-season growth rate in nearly 5 years, further confirming Alibaba Cloud's growth shift leveraging AI business. Hua Hong Grace Semiconductor (01347) and Semiconductor Manufacturing International Corporation (00981) received a net buying of 1.211 billion and 1.055 billion Hong Kong dollars respectively. International research firm Omdia recently released a report predicting that China's semiconductor market size will reach 812.08 billion US dollars by 2026, a year-on-year growth of 92.9%, significantly higher than previous estimates. In addition, TSMC plans to raise prices again by up to 15% for the 3-nanometer process in the second half of this year, with a further increase of 5% to 10% possible next year. XIAOMI-W (01810) received a net buying of 508 million Hong Kong dollars. On July 9, Xiaomi Group Chairman Lei Jun officially announced the "SkyNomad Xiaomi Pengcheng," positioning it as an "intelligent variable large space SUV," with the market estimating a price range of 200,000 to 450,000 yuan. There are market rumors that Xiaomi Car plans to hold a technology conference in July 2026 and officially launch in mid-August. KINGBOARD HLDG (00148) and KB LAMINATES (01888) received a net buying of 306 million and 116 million Hong Kong dollars respectively. Citigroup says that, given that the average selling price of electronic cloth may be higher than expected, KINGBOARD HLDG's first-half performance may exceed the bank's forecast. It is expected that major shareholder Hallgain's stake in KINGBOARD HLDG will not drop below 30%, as this is the threshold level for triggering an acquisition scenario. The next catalyst will be a positive profit forecast for the first half of 2026, when the leverage effect of doubling the price of electronic grade fiberglass cloth on net profit can be observed. Compared to KINGBOARD HLDG, the subsidiary KB LAMINATES is more favored. GigaDevice Semiconductor Inc. (03986) received a net buying of 204 million Hong Kong dollars. The subscription for the new shares of Changxin Storage is scheduled for July 16, with plans to raise 29.5 billion yuan for capacity expansion and upgrades. In addition, GigaDevice Semiconductor Inc. announced after the market close that the net profit for the first half of 2026 is expected to be around 6.9 billion yuan, a year-on-year increase of 1099%; and operating income is expected to be around 11.5 billion yuan, a year-on-year increase of 177%. During the reporting period, the storage chip industry was in short supply, with GigaDevice Semiconductor Inc.'s storage chip prices and production both rising, leading to an improvement in the profitability of its storage business. TRACKER FUND OF HONG KONG (02800) suffered a net selling of 2.313 billion Hong Kong dollars. Guotai Haitong stated that this week, the Hong Kong stock market will enter a period of concentrated release of micro-liquidity shocks. With the gradual digestion of such short-term shocks, and the increasing possibility of Hong Kong stock bottoming out in the first half of the year, the market is expected to return to a rational understanding of fundamental value for price comparison. Overall, as the shocks subside, the long-term investment value and price-to-earnings ratio of the Hong Kong stock market are once again highlighted. In addition, YOFC (06869) received a net buying of 306 million Hong Kong dollars, while Tencent (00700) suffered a net selling of 1.434 billion Hong Kong dollars.