Northbound funds | Northbound trading recorded a net purchase of 1.275 billion. The launch of the new Xiaomi Pengcheng vehicle is imminent. Northbound investors bought nearly 1.4 billion Hong Kong dollars worth of Xiaomi (01810) throughout the day.

On September 7, the Hong Kong stock market saw net purchases of HKD 1.275 billion from northbound capital. Among this, the net buy from Shanghai-Hong Kong Stock Connect was HKD 798 million, while from Shenzhen-Hong Kong Stock Connect it was HKD 477 million. The stocks with the highest net purchases from northbound capital were Xiaomi-W (01810), Zhongji Innolight (03308), and China Life Insurance (02628). The stocks with the highest net sales were KB LAMINATES (01888), Hua Hong Grace Semiconductor (01347), and YOFC (06869). Active trading stocks on Shanghai-Hong Kong Stock Connect Active trading stocks on Shenzhen-Hong Kong Stock Connect XIAOMI-W (01810) received a net purchase of HKD 1.383 billion. On the evening of September 7, the Xiaomi autumn flagship product launch event will officially take place, with the new series of Xiaomi carsthe three models of the Pengcheng extended-range SUValso being launched. Xiaomi founder and CEO Lei Jun stated that the cumulative delivery volume of Xiaomi cars has surpassed 800,000 units. During the Xiaomi Pengcheng technology launch event on July 30, Lei Jun mentioned that in two and a half years, Xiaomi cars released two models, the Xiaomi SU7 and Xiaomi YU7, with a cumulative delivery volume of over 700,000 units. The optical communication concept stocks showed significant divergence, with Zhongji Innolight (03308) receiving a net purchase of HKD 367 million, while Cig Shanghai (06166) and YOFC (06869) faced net sales of HKD 172 million and HKD 300 million, respectively. OpenAI officially launched GPT-6Astra. Galaxy Securities pointed out that the release of Astra further validates that cutting-edge model training is still in an expansion channel characterized by ultra-large-scale clustering, heavy capitalization, and strong interconnectivity reliance, with the computing power for model training expected to advance from the 10^26 FLOPs level towards the 10^27 FLOPs level. Additionally, Goldman Sachs has initiated coverage of Zhongji Innolight H shares with a "Buy" rating and a 12-month target price of HKD 3,267. China Life Insurance (02628) received a net purchase of HKD 230 million. The Ministry of Finance will inject RMB 35 billion into China Life Insurance Group. Morgan Stanley noted that for the China Life Group, as the capital injection remains at the group level and the use of funds has not yet been disclosed, the impact on the listed entity and potential dilution remains unclear. In extreme scenarios, Morgan Stanley estimates that based on the 20-day average price, the potential dilution for China Life Insurance could be 3.2%, but the actual dilution may be lower. BABA-W (09988) received a net purchase of HKD 156 million. On September 2, Alibaba Cloud's enterprise-level human and Agent collaboration platform "Wanyou Wujie" began public testing. Both enterprise users and individual users can register for experience and access Alibaba's latest flagship model Qwen3.8-Max. Additionally, Qianwen Creation recently launched Agent Teams, covering scenarios such as AI short dramas and comic dramas. Semiconductor Manufacturing International Corporation (00981) and Hua Hong Grace Semiconductor (01347) faced net sales of HKD 217 million and HKD 582 million, respectively. Hua Hong Grace Semiconductor announced that it, along with several institutions, is increasing capital for Wuxi Hua Hong Grace Semiconductor Phase III, constructing a 12-inch specialty process wafer foundry line with a monthly capacity of approximately 55,000 wafers. Furthermore, TSMC is expanding at an unprecedented scale, with nearly 20 fabs under simultaneous construction globally, yet the expansion of capacity is still struggling to keep pace with demand. Additionally, Tencent (00700), GigaDevice Semiconductor Inc. (03986), and KB LAMINATES (01888) faced net sales of HKD 45.34 million, HKD 245 million, and HKD 650 million, respectively.