To The Moon

This week, the Hong Kong stock market saw a pullback after reaching a new high for the year. The $HSI(HSI)$ fell for two consecutive days, closing the week down by 1.13%.

Economic Data and Corporate Earnings

On Monday, China’s National Bureau of Statistics released strong economic data. In January-February, retail sales of consumer goods grew 4% year-on-year, surpassing the 3.8% forecast and beating December’s 3.7% increase. Industrial output grew 5.9%, beating the 5.3% forecast, and fixed asset investment rose 4.1%, also exceeding expectations.

On Tuesday after market hours, $XIAOMI-W(01810)$ reported its fourth-quarter earnings, claiming to have delivered the strongest financial results in its history. Revenue for Q4 reached 109 billion yuan, up 48.8% year-on-year, exceeding the 104.38 billion yuan forecast. Adjusted net profit jumped by 69.4% to 8.316 billion yuan. Despite this, the stock saw large fluctuations, with a strong post-report rally followed by a sharp two-day decline.

On Wednesday after market hours, $TENCENT(00700)$ reported its Q4 earnings. Revenue reached 172.45 billion yuan, up 11%, while adjusted net profit came in at 55.31 billion yuan, a 30% increase. Despite exceeding expectations, Tencent’s stock dropped 3.8% the next day.

Other notable earnings reports from $XPENG-W(09868)$ , $KINGSOFT CLOUD(03896)$ , and other major companies also exceeded forecasts, yet their stock prices fell sharply afterward.

The poor post-earnings performance of Chinese stocks has led to profit-taking, and for the first time in a while, southbound funds saw a rare net outflow on Tuesday and Thursday.

Sectors like real estate and consumer goods underperformed, while the healthcare sector led the gains.

Major Events in Hong Kong Stocks This Week

1.Retail sales for January-February grew 4% YoY, exceeding expectations.

2.New home prices in first-tier cities rose by 0.1% month-on-month in February.

3.The State Council announced the "Boosting Consumption Action Plan," which will focus on policies like child-rearing subsidies and wage increases.

4. $BYD COMPANY(01211)$ ’s market cap surpassed CATL for the first time in seven years.

5.Hong Kong real estate mogul Lee Shau Kee, founder of $HENDERSON LAND(00012)$ , passed away at the age of 97.

6. $WUXI APPTEC(02359)$ reported Q4 revenue of 11.5 billion yuan, up 6.8% YoY, marking a return to growth after four quarters of decline.

7.CATL made a strategic investment of up to 2.5 billion yuan in $NIO-SW(09866)$ Energy.

8. $BYD COMPANY(01211)$ launched its "Mega-Watt Flash Charging" technology, allowing charging speeds similar to refueling a gas vehicle. The stock hit a new all-time high.

9. $DOBOT(02432)$ unveiled its Dobot Atom, a full-size humanoid robot priced from 199,000 yuan. The stock surged.

10. $XIAOMI-W(01810)$ 's total revenue for 2024 hit a record 365.91 billion yuan, up 35% YoY.

11. $XPENG-W(09868)$ reported Q4 revenue of 16.11 billion yuan, up 23.4% YoY, and projected a significant increase in Q1 2025 sales.

12. $TENCENT(00700)$ ’s Q4 adjusted net profit of 55.31 billion yuan exceeded expectations.

13.The Hong Kong Securities and Futures Commission is considering limiting the funding ratio for IPO stock warrants.

14. $MEITUAN-W(03690)$ ’s Q4 revenue of 88.49 billion yuan surpassed expectations.

Five Stocks Worth Attention Among Top Trading HK Stocks This Week

Top1: $XIAOMI-W(01810)$ . This week, Xiaomi reported its strongest financial results ever, with Q4 revenue of 109 billion yuan, up 48.8% YoY. The stock hit an all-time high.

Top3: $TENCENT(00700)$ . Tencent’s Q4 revenue and profit exceeded expectations, but its stock price fell by 3.8% following the earnings release.

Top5: $XPENG-W(09868)$ . Despite impressive Q4 earnings and strong guidance for Q1 2025, Xiaopeng’s stock performance was lackluster.

Top6: $MEITUAN-W(03690)$ . Meituan's Q4 earnings exceeded estimates, with revenue rising 20.1% YoY.

Top9: $DOBOT(02432)$ . The launch of Dobot Atom, a groundbreaking humanoid robot, led to a surge in stock price.

Next Week's Hong Kong Stock Market Events

1.Next Thursday,China will release industrial enterprise profit data for January-February.

2.Major companies like $BYD COMPANY(01211)$ $KUAISHOU-W(01024)$ $ZHIHU-W(02390)$ will report their quarterly earnings.