On January 21, 2025, the Hong Kong stock market closed higher. The Hang Seng Index (HSI) rose by 0.91%, the Hang Seng China Enterprises Index (HSCEI) increased by 1.18%, the Hang Seng Tech Index (HSTECH) surged by 2.14%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) edged up by 0.03%.
In terms of sectors, the semiconductor sector saw significant gains. SMIC rose by 6.35%, driven by the overall strength in the semiconductor sector, with other stocks like Hua Hong Semiconductor and Shanghai Fudan also posting gains. The property management sector also performed well, with CG SERVICES rising by 6.51%.
TENCENT fell by 0.62%. The company launched its Hunyuan 3D AI creation engine, which can generate 3D models from prompts or images, offering various functionalities. Additionally, several funds under GF Fund disclosed their annual reports, revealing the latest holdings of multiple funds.
XIAOMI-W surged by 3.46%. Insurance registrations for major electric vehicle (EV) makers remained weak last week, with Xiaomi registering 5,600 vehicles. A research report by CLSA indicated that this year could be the year of AI monetization in the mainland tech industry, with AI models nearing usability. Some AI applications and other AI-enabled devices, such as smartphones, are expected to hit the market soon. In the H-share market, CLSA's stock picks include BYD Electronic, AAC Technologies, and Xiaomi.
MEITUAN-W rose by 1.93%. The stock saw significant net inflows of over HKD 1 million in call options the previous day, following a more than 7% rise in JD.com the previous day.
BEKE-W surged by 3.71%. The company reached a strategic cooperation agreement with China Power Construction Real Estate, leading to a stock price increase of over 5%. It is expected that a new round of policy announcements will be made after the Spring Festival, boosting market sentiment and driving the real estate market.
BYD ELECTRONIC rose by 4.85%. A research report by CLSA indicated that this year could be the year of AI monetization in the mainland tech industry, with AI models nearing usability. Some AI applications and other AI-enabled devices, such as smartphones, are expected to hit the market soon. In the H-share market, CLSA's stock picks include BYD Electronic, AAC Technologies, and Xiaomi.
SMOORE INTL rose by 5.87%. The company announced an equity incentive plan, with unlocking conditions requiring subsequent market value to reach HKD 300 billion to 500 billion. The main performance drivers include contributions from new HNB products and the expansion of the compliant market for atomized e-cigarettes. Major client British American Tobacco has launched a breakthrough new HNB product, glohilo, in Serbia, which is expected to be officially launched in the second half of this year.
SUNNY OPTICAL surged by 7.26%. The stock saw significant gains driven by positive market sentiment and strong performance in the tech sector.
COUNTRY GARDEN surged by 17.53%. The stock resumed trading after a 9-month suspension, with its share price soaring by nearly 30% at one point. The company released its 2023 and 2024 interim financial reports, showing total revenue of approximately RMB 401 billion for 2023, a year-on-year decrease of about 6.8%, and a pre-tax loss of approximately RMB 167.3 billion. The company has also formulated several plans and measures to alleviate liquidity pressure and improve its financial situation.