On July 6th in the Hong Kong stock market, Mainland funds recorded a net purchase of HK$497 million.

Specifically, the Shanghai-Hong Kong Stock Connect saw a net purchase of HK$1.821 billion, while the Shenzhen-Hong Kong Stock Connect recorded a net sale of HK$1.324 billion.

The stocks receiving the largest net purchases from Mainland funds were TENCENT (00700), MEITUAN-W (03690), and BABA-W (09988).

The stocks with the largest net sales were KB LAMINATES (01888), Changfei Optical Fiber & Cable (06869), and SMIC (00981).

Top Purchases via Stock Connect

TENCENT (00700) and KUAISHOU-W (01024) received net purchases of HK$2.324 billion and HK$485 million, respectively.

Kuaishou stated in an announcement that Tencent expressed confidence in the group's long-term development prospects, and both parties will continue to maintain a mutually beneficial relationship, including extending their strategic cooperation.

The company expects the share sale will not have any significant adverse impact on its operations.

MEITUAN-W (03690) attracted a net purchase of HK$1.24 billion.

On July 6th, Meituan officially open-sourced its trillion-parameter large language model, LongCat-2.0.

LongCat-2.0 has a total of 1.6 trillion parameters, with an average activation of about 48 billion.

Its architecture incorporates LongCat sparse attention and N-gram Embedding, enhancing long-context processing efficiency and token-level representation while further strengthening performance in code comprehension, generation, and execution through dynamic activation.

BABA-W (09988) saw a net purchase of HK$918 million.

According to reports, Alibaba is systematically integrating its Agent product line, using QoderWork as the foundational platform and merging the core capabilities of "Wukong" and "MuleRun" to upgrade into an AI product for enterprise productivity scenarios, overseen by DingTalk CEO Chen Yusen.

Zhipu (02513) received a net purchase of HK$273 million.

The China Securities Regulatory Commission website shows that Zhipu's A-share IPO tutoring status has been updated to "tutoring work completed."

Previously, on June 1st, Zhipu announced on the Hong Kong Stock Exchange that it intends to apply for an initial public offering of A-shares and list on the STAR Market.

According to the announcement, Zhipu plans to raise 15 billion yuan, with 12 billion yuan intended for the development of a general-purpose AI base large model, 2 billion yuan for a large model MaaS one-stop service platform, and 1 billion yuan to supplement working capital.

Zhaoyi Innovation (03986) attracted a net purchase of HK$52.21 million.

Samsung Electronics' second-quarter operating profit surged 19-fold year-on-year, surpassing the total profits of the past three years combined.

However, its stock price subsequently plunged over 8%, dragging down memory-related stocks across the Asia-Pacific market.

This may be due to excessively high market expectations—profits, driven by record-high memory chip prices, could have exceeded 90 trillion won after accounting for employee bonus provisions.

Additionally, there are market concerns that the construction of AI data centers may slow down.

Major Net Sales

Huahong Grace (01347), SMIC (00981), and KB LAMINATES (01888) suffered net sales of HK$153 million, HK$1.078 billion, and HK$1.564 billion, respectively.

News of delays to Nvidia's Kyber rack shipments dealt a blow to the semiconductor supply chain, with sectors like CCL and PCB plunging 8-9% in a single day.

However, Bank of America stated that the nature of this decline is "demand contraction under supply constraints" rather than a trend reversal, and the supply shortage for high-end CCL and ABF substrates is expected to persist until the end of 2027.

Additionally, the Tracker Fund (02800) received a net purchase of HK$144 million.

Meanwhile, Changfei Optical Fiber & Cable (06869) suffered a net sale of HK$1.246 billion.