On March 6, Hong Kong stocks opened higher in the morning session, with leading internet companies showing a rebound. As of the time of writing, Alibaba-W rose nearly 2%, while Tencent Holdings and Xiaomi Group-W gained over 1%, with Meituan-W also following the upward trend. Additionally, JD Health led the gains with a rise of 5% following its earnings report. AI application stocks were active, with Kingdee International and Mobvista among the top performers. The Hong Kong Internet ETF (513770), representing core AI assets in Hong Kong, opened lower but then climbed, with its price rising over 1% at one point, and is currently up 0.9%.
Positive earnings results contributed to the optimistic sentiment. JD Health released its 2025 annual performance report, achieving revenue of RMB 73.441 billion, a year-on-year increase of 26.3%. Profit attributable to the company's owners was RMB 5.375 billion, up 29.16% compared to the previous year. Furthermore, Bilibili-W reported fourth-quarter 2025 revenue of RMB 8.32 billion, an 8% year-on-year increase, with net profit surging 478% year-on-year. Full-year total revenue reached RMB 30.35 billion, up 13% year-on-year, and adjusted net profit was RMB 2.59 billion, marking its first annual profit.
CITIC Securities noted that national policies continue to strengthen strategic support for AI large models and the digital economy, encouraging technological innovation and industrial upgrading. This requires continued participation from internet companies with strong free cash flow, and growth prospects remain promising. AI technology is becoming the core engine driving the second growth curve for internet giants. 2026 is a critical year for AI to transition from "concept speculation" to "performance delivery." Internet giants are leveraging AI to restructure their core businesses, with AI technology not only bringing new business volume but also significantly improving operational efficiency in traditional businesses through automation tools, which is conducive to enhancing profit expectations for leading internet companies.
To capture opportunities in the first year of AI commercialization in 2026, focus on core AI tools in the Hong Kong market. The Hong Kong Internet ETF (513770) and its feeder funds (Class A 017125; Class C 017126) passively track the CSI Hong Kong Stock Connect Internet Index. The top ten constituent stocks include tech giants such as Alibaba-W, Tencent Holdings, Xiaomi Group-W, Kuaishou-W, and Bilibili-W, as well as AI application companies across various sectors, collectively accounting for over 76% of the index, highlighting significant leading advantages.
For investors optimistic about Hong Kong tech but seeking to reduce volatility, consider the first-of-its-kind Hong Kong Large Cap 30 ETF (520560), which employs a "tech + dividend" barbell strategy. Its major holdings include high-growth tech stocks like Alibaba and Tencent Holdings, as well as stable high-dividend stocks such as China Construction Bank and Ping An of China, making it an ideal long-term allocation tool for the Hong Kong market.
Note: Recent market volatility may be high, and short-term gains or losses do not indicate future performance. Investors should make rational investment decisions based on their financial situation and risk tolerance, paying close attention to position and risk management.
Data source: Shanghai and Shenzhen Stock Exchanges, etc. The annual performance of the CSI Hong Kong Stock Connect Internet Index for the past five full years is as follows: 2021, -36.61%; 2022, -23.01%; 2023, -24.74%; 2024, 23.04%; 2025, 27.02%. The index composition is adjusted according to its rules, and past performance does not guarantee future results.
Institutional view source: GF Securities report dated February 9, 2026, titled "Hong Kong Stocks May Experience Phased Rises Alongside A-Shares Around the Spring Festival."
ETF fee explanation: When subscribing or redeeming fund shares, subscription and redemption agents may charge a commission of up to 0.5%, which includes fees collected by stock exchanges and registration institutions. Feeder fund fee explanation: For the Huabao CSI Hong Kong Stock Connect Internet ETF feeder fund (Class A), the subscription fee (front-end load) is RMB 1,000 per transaction for amounts over RMB 2 million, 0.6% for amounts between RMB 1 million (inclusive) and RMB 2 million, and 1% for amounts below RMB 1 million. The redemption fee is 1.5% for holding periods under 7 days and 0% for holding periods of 7 days or more; no sales service fee is charged. For the Huabao CSI Hong Kong Stock Connect Internet ETF feeder fund (Class C), no subscription fee is charged. The redemption fee is 1.5% for holding periods under 7 days and 0% for holding periods of 7 days or more; the sales service fee is 0.3%.
Risk disclosure: The Hong Kong Internet ETF passively tracks the CSI Hong Kong Stock Connect Internet Index, which has a base date of December 30, 2016, and was launched on January 11, 2021. The index composition is adjusted according to its rules. The index constituents mentioned are for illustrative purposes only; descriptions of individual stocks are not investment advice and do not represent the holdings or trading activities of any fund managed by the management company. The fund manager assesses the risk level of this fund as R4 - medium to high risk, suitable for aggressive (C4) and higher risk-tolerant investors. Any information provided is for reference only, and investors are responsible for their own investment decisions. The views, analyses, and forecasts herein do not constitute investment advice, and no liability is accepted for any direct or indirect losses resulting from the use of this content. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Past performance is not indicative of future results. Fund investment involves risks, and caution is advised.
A MACD golden cross signal has formed, indicating positive momentum for these stocks.
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