2024 H1: The Top 10 Most Popular HK Stocks in Tiger Community!

In the first half of 2024, Hong Kong stocks staged a remarkable turnaround, reversing the previous four consecutive years of decline. But due to macroeconomic challenges, geopolitical tensions, and high US interest rates, the $HSI(HSI)$ only managed a modest 4% gain.

Despite the lackluster performance of the overall market, some sectors shined brightly, especially internet, high-dividend stocks, and overseas expansion, delivering good returns to investors.

Here are the top 10 most popular Hong Kong stocks in Tiger Community in the first half of 2024:

1. $XIAOMI-W(01810)$

In March 2024, Xiaomi unveiled its first car, priced at a stunningly low 215,900 yuan, lower than market expectations, blowing the internet away! With orders for 2024 fully booked and the subsequent launch of more models, Xiaomi is poised to become a heavyweight in China's new energy vehicle market.

In addition, the recovery of consumer electronics saw an uptick in smartphone and PC sales, boosting Xiaomi's adjusted net profit by 100% in the first quarter!

Under the multiple advantages, the stock price surged back above HK $20, making Xiaomi fans rejoice!

2. $TENCENT(00700)$

As the domestic economy stabilized and internet companies implemented cost-cutting measures, Tencent's first-quarter earnings exceeded market expectations, with net profit growth of over 62%!

Adding to the strong fundamentals, Tencent increased its share repurchase program from an average of HK $400 million daily last year to HK $1 billion this year, providing strong support for the stock price, which gained nearly 30% this year!

3. $MEITUAN-W(03690)$

Over the past year,the competition between Douyin and Meituan in local services intensified, while rumors of Douyin acquiring Ele.me persisted. The worsening competition landscape dampened investor sentiment, and Meituan's stock price even fell below its 2018 IPO price!

But in terms of performance, Meituan remained robust in the first quarter, with both gross margin and net profit growing significantly, the performance did not deteriorate as investors fear.

After the storm, Meituan launched a large-scale share repurchase plan, boosting its stock price by over 35% in the first half of the year, outperforming its peers in the internet industry!

4. $LI AUTO-W(02015)$

The star of new energy vehicles, Li Auto, hit a snag this year. Its first bettery electric MPV model, the MEGA, failed to sell well, indicating a significant setback in Li Auto's transition to electric vehicles.

Moreover, amidst competition from various models like AITO, Li Auto's monthly sales fell short of expectations, and its stock price declined by a staggering 52% this year!

5. $CNOOC(00883)$

CNOOC has been a superstar stock in Hong Kong this year, with its share price rising for four consecutive years. Its first-half gain this year was even more impressive, surging 72%! It's a rare safe haven in the Hong Kong market!

The robust performance of CNOOC is attributed to its stable earnings, low valuation, and high dividend yield.

In the midst of the economic downturn caused by the pandemic, many centrally-owned companies maintained stable performance, coupled with their previously overlooked status and low valuations.

At the same time, these companies increased their dividends, offering dividend yields far higher than deposit rates, making them a favorite among investors!

6. $WUXI BIO(02269)$

In 2024, WuXi Biologics faced a sudden black swan event. The US House of Representatives passed the "Biosafety Act," which prohibits US tax funds from flowing to biotechnology companies owned, operated, or controlled by China or other foreign adversaries, including WuXi Biologics.

Since WuXi's revenue mainly comes from US pharmaceutical companies, the market feared client losses and dumped its shares, leading to a plunge in its stock price and a general sell-off in the contract drug development sector.

7. $CHINA VANKE(02202)$

In 2024, the real estate market remained sluggish, even for top players like Vanke. In the first five months of the year, Vanke's cumulative contract sales amounted to 102.2 billion yuan, down 39% year-on-year!

Rumors of Vanke's financial tightness spread, leading to a double whammy on its stocks and bonds.

8. $EAST BUY(01797)$

Since the "small essay" crisis at the end of last year, East Buy has been in turmoil. During the 618 shopping festival, its livestreaming hosts' aggressive sales tactics sparked backlash from netizens. The founder, Yu Minhong, had to apologize, saying the company had "made a mess!"

Then, East Buy's star anchor Dong Yuhui publicly stated, "I really hate selling things" and "I'm so against being called a 'celebrity influencer'!"

With all this turmoil, the market's worried about East Buy's over-reliance on star anchors, causing its stock price to plummet!

9. $POP MART(09992)$

Pop Mart performed brilliantly in 2024, mainly thanks to their successful overseas expansion!

Based on their Q1 financials released on April 22nd, Pop Mart is expecting overall revenue to grow 40%-45% compared to the same period last year. Specifically, their revenue in China is expected to increase 20%-25%, while their overseas business is booming at a whopping 245%-250% growth rate!

As domestic consumption slows down, going overseas has become a major strategy for Chinese companies to break through. Besides Pop Mart, other Chinese companies like $PDD Holdings Inc(PDD)$ and $MINISO Group Holding Limited(MNSO)$ are also seeing rapid growth in overseas revenue.

10. $TRIP.COM-S(09961)$

After the pandemic, people's desire for travel has exploded, and as the largest online travel service provider in China, Ctrip has benefited greatly from this trend!

After the surge in stock prices, Ctrip's market value even surpassed Baidu, which, ironically, is a major shareholder of Ctrip!