On January 29, the three major Hong Kong stock indices opened lower and fluctuated, but leading internet stocks bucked the trend to strengthen. As of writing, Kuaishou-W and Xiaomi Group-W rose nearly 2%, with Tencent Holdings following with gains. Additionally, EAST BUY surged 13% after its earnings report, while AI application concept stocks like Maifushi and China Literature led the gains. Alibaba-W and Meituan-W experienced slight declines.
EAST BUY recently announced its interim results for the six months ended November 30, 2025. During the period, EAST BUY's total revenue reached RMB 2.312 billion, a year-on-year increase of 5.7%; gross profit was RMB 842 million, up 14.5% year-on-year, with the gross profit margin improving to 36.4%. Particularly notable was the turnaround from a net loss of RMB 96.5 million in the same period last year to achieving a net profit of RMB 239 million.
Regarding popular ETFs, the Hong Kong Internet ETF (513770), representing core Hong Kong AI assets, saw its on-market price rise by 1.59%, marking its third consecutive daily gain. Data from the Shanghai Stock Exchange shows that the Hong Kong Internet ETF (513770) has accumulated a net capital inflow of RMB 1.392 billion over the past 20 days.
Recently, major internet companies have ignited a Spring Festival AI application traffic war, leading to a comprehensive acceleration of AI adoption. Zhongyuan Securities pointed out that from late 2025 to early 2026, AI applications have shown an accelerating trend of implementation. This trend, evidenced by Meta's acquisition of Manus, the cooperation between Apple and Google, and the integration of the Qwen app into the Alibaba ecosystem, is expected to deepen further throughout 2026.
Kaiyuan Securities stated that domestic large model manufacturers are continuously enhancing their user and revenue scale through high-frequency model iterations, cost-performance advantages, and overseas expansion. Leveraging the strong social fission effects from various Spring Festival activities, they are intensifying their efforts to capture the consumer-facing AI gateway, which may subsequently accelerate domestic user growth and commercialization.
Seize the opportunity of 2026 as the inaugural year of AI commercialization by focusing on core Hong Kong AI tools! The Hong Kong Internet ETF (513770) and its feeder fund (Class A 017125; Class C 017126) passively track the CSI Hong Kong Stock Connect Internet Index. Its top ten holdings, accounting for nearly 77% of the portfolio, aggregate tech giants like Alibaba-W, Tencent Holdings, Xiaomi Group-W, Kuaishou-W, and Bilibili-W, along with AI application companies across various sectors, demonstrating significant leading advantages.
Bullish on Hong Kong tech but hoping to reduce volatility? Also consider the market's first 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, while also encompassing stable, high-dividend stocks such as China Construction Bank and Ping An of China, making it an ideal long-term core holding tool for Hong Kong market exposure.
A reminder: Recent market volatility may be significant, and short-term price movements do not predict future performance. Investors must make rational investment decisions based on their own financial situation and risk tolerance, paying close attention to position sizing 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 constituents are adjusted according to its compilation rules, and its past performance does not indicate future results.
ETF fee explanation: When subscribing for or redeeming fund units, the subscription/redemption agent may charge a commission of up to 0.5%, which includes relevant fees charged by the stock exchange 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. The Huabao CSI Hong Kong Stock Connect Internet ETF Feeder Fund (Class C) charges no subscription fee; 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 warning: The Hong Kong Internet ETF passively tracks the CSI Hong Kong Stock Connect Internet Index. This index has a base date of December 30, 2016, and was published on January 11, 2021. Its constituents are adjusted according to the index compilation rules. The index constituents mentioned are for illustrative purposes only; descriptions of individual stocks are not investment advice in any form and do not represent the holdings or trading动向 of any fund managed by the manager. The fund manager assesses this fund's risk等级 as R4 - Medium-High Risk, suitable for Aggressive (C4) and above investors. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors are responsible for any independent investment decisions. Furthermore, any views, analysis, or forecasts in this article do not constitute investment advice of any kind to the reader, nor shall they be held responsible for any direct or indirect losses arising 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 fund performance is not indicative of future results. Fund investment carries risks, and fund investment must be undertaken with caution.
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