Selected HK Stock Exchange Announcements | CRRC's H1 Profit Rises Approximately 10% Year-on-Year; SF Holding's July Revenue Exceeds RMB 26 Billion
① CRRC's H1 profit increased by approximately 10% year-on-year; which business segments showed strong growth? ② SF Holding's July revenue exceeded RMB 26 billion; what was the year-on-year growth rate?
Tencent (00700.HK): Increased AI Capital Expenditure; Core Business Maintains Steady Growth
Event: On August 12, 2026, the company announced its financial results for the second quarter of 2026 (2026Q2), reporting revenue of RMB 204.8 billion, an increase of 11% year-over-year, and non-IFRS net profit attributable to shareholders of RMB 68.4 billion.
Zhitong Stock Connect Active Trades | August 19
Active Trading in Stock Connect (Hong Kong) | August 19, 2026
Huahong Hongli recorded net outflows of HK$2.969 billion via the Stock Connect.
Southbound capital recorded a net inflow of HKD 321 million into Tencent (00700.HK). Net outflows were observed in Hua Hong Semiconductor (01347.HK), Xiaomi Group (01810.HK), and Kingboard Laminates (01888.HK), amounting to HKD 2.969 billion, HKD 1.51 billion, and HKD 906 million, respectively. Among active stocks in the Shanghai-Hong Kong Stock Connect, SMIC (00981.HK) saw the highest net inflow of HKD 934 million, while Tracker Fund of Hong Kong (02800.HK) recorded the highest net outflow of HKD 1.79 billion. For the Shenzhen-Hong Kong Stock Connect, the active stock with the highest net inflow was Ten
Capital Flows | Southbound capital sells HK$10.6 billion of Hong Kong stocks, significantly reducing holdings in Huahong Hongli
Track the latest developments of southbound capital flows
Express News | Southbound capital recorded net sales exceeding HK$10.6 billion today, marking the highest single-day selling volume in nearly four months.
Southbound Capital Flows | Net southbound selling reaches HK$10.621 billion; AI hardware stocks face further sell-off by southbound capital amid OpenAI setbacks
On August 19, southbound capital recorded net sales of HKD 10.621 billion in the Hong Kong stock market. Among these, the Shanghai-Hong Kong Stock Connect saw net sales of HKD 3.31 billion, while the Shenzhen-Hong Kong Stock Connect recorded net sales of HKD 7.311 billion.
Express News | Documents from the Hong Kong Stock Exchange show that Tencent (00700.HK) repurchased 673,000 shares on August 19, at a cost of HK$300.2 million.
Express News | Southbound funds recorded a significant net outflow of RMB 10.621 billion today. Regarding the Shanghai-Hong Kong Stock Connect, Tracker Fund of Hong Kong and Hua Hong Semiconductor saw net sell-offs of HKD 1.79 billion and HKD 1.104 billion, respectively
BOCI: Accelerating domestic CSP capex and rising large model prices further validate the boom in domestic computing power.
Price hikes for large language models and increased capital expenditure by cloud service providers have become the core engines driving the sustained growth of domestic computing power. The bank believes that the domestic computing power supply chain has entered a phase characterized by high certainty and the realization of strong growth.
China has reportedly eased import restrictions on Nvidia’s (NVDA.US) H200 chips.
Citing sources, the UK's Financial Times reported that Nvidia’s (NVDA.US) H200 chips have been approved for export to China. ByteDance and Tencent (00700.HK) each received approximately 10,000 H200 chips in recent weeks, while other Chinese technology companies may soon obtain similar quantities. It is understood that although the United States has approved Chinese enterprises to purchase up to 100,000 H200 chips each, China hopes that companies will keep the majority of these H200 chips outside of China to support the development of domestic chip manufacturers. Chinese regulators have notified enterprises that, except for a small number of H200 chips
Guohai Securities: Maintains "Buy" rating on Tencent with a target price of HK$627
Guohai Securities issued a research report forecasting that Tencent's (00700) revenue for 2026–2028 will reach RMB 823.3 billion, RMB 901.5 billion, and RMB 982.2 billion, respectively. Net profit attributable to shareholders under the Non-IFRS basis is projected at RMB 266.3 billion, RMB 274.3 billion, and RMB 288.1 billion, corresponding to Non-IFRS earnings per share (EPS) of RMB 29, RMB 30, and RMB 32, respectively. This implies Non-IFRS price-to-earnings (P/E) ratios of 13.0x, 12.6x, and 12.0x. Based on the Sum-of-the-Parts (SOTP) valuation method, the aggregate target market capitalization for Tencent's various business segments in 2026 is set at RMB 5.0 trillion (HKD 5.7 trillion), implying a target price
Tencent Plans to Establish First Cloud Region in Malaysia
HK Stock Market Midday Review | Major indices showed mixed performance, with the Hang Seng TECH Index down 0.82%; tech internet stocks diverged, with Xiaomi rising nearly 7% post-earnings while Baidu plunged nearly 12%; semiconductor stocks weakened, with
Most internet and technology stocks rose, with Baidu Group-SW falling 11.77% and Xiaomi Group-W gaining 6.95%; sports apparel stocks generally advanced, with Anta Sports up 3.40% and 361 Degrees up 2.19%; most lithium battery stocks declined, with Ganfeng Lithium dropping 3.08% and CATL falling 2.92%;
TENCENT(0700.HK)2Q26 Review:Accelerating AI Investment Sustained Resilience in Core Businesses and Positive Long-term ROI Outlook
Tencent’s (00700.HK) AI application generation platform, Tusi, has launched the capability to publish apps.
Tencent’s (00700.HK) AI application generation platform, Tusi, under its Yingyongbao app store, has recently launched an “App Listing” capability and introduced a “Developer Benefits Package.” Users who generate Android applications via natural language within Tusi can complete processes such as software copyright registration, app filing, and compliance document generation directly within the platform. They can then submit listing applications through a one-stop service; upon approval, the applications will be listed and distributed on Yingyongbao for user download. Tusi has introduced two tiers of packages: Basic Plus and Advanced Pro, with early-bird prices of RMB 899 and RMB 7,999, respectively, valid for 180 days and 3
August 18 Buyback Roundup | Tencent, HSBC Holdings, and others conduct share buybacks, with Tencent spending HK$300 million
According to disclosure documents released by the Hong Kong Exchange on August 19, companies including $Tencent (00700.HK)$ and $HSBC Holdings (00005.HK)$ repurchased shares. ① $Tencent (00700.HK)$ repurchased 681,000 ordinary shares on August 18, involving an amount of HKD 300 million, with repurchase prices ranging from HKD 437.8 to HKD 445 per share. Since the resolution authorizing the buyback was passed, the cumulative number of securities repurchased stands at 37.4267 million shares, representing 0.41047% of the issued shares outstanding at the time the ordinary resolution was approved. ② $HSBC Holdings (00005.HK)$
WeChat Pay HK expands cross-border payment services in Japan
WeChat Pay HK has announced a partnership with Japan’s au PAY e-wallet to provide users with cross-border Hong Kong dollar (HKD) electronic payment solutions, extending direct HKD settlement capabilities to the au PAY merchant network. Users can scan au PAY QR codes at participating merchants across Japan, where the system will automatically convert JPY transaction amounts into HKD for deduction based on real-time exchange rates, with all transactions free of handling fees. WeChat Pay HK has already partnered with over 100 popular merchants in Japan, covering diverse sectors including retail, dining, transportation, and leisure entertainment.
Zhitong Stock Connect Holdings Analysis | August 19
Analysis of Stock Connect Holdings | August 18, 2026
On Qixi Festival, WeChat enabled large red packets worth 520 yuan.
Gelonghui, August 19 – Today (August 19) marks the Qixi Festival, a traditional Chinese folk holiday. It has been confirmed that WeChat, consistent with previous years, has temporarily raised the limit for individual red packets from RMB 200 to RMB 520 for one day. Reportedly, WeChat enables the RMB 520 red packet feature on special dates such as Valentine’s Day (February 14), the Qixi Festival, and May 20. This tradition has been in place for ten years. Red packets with symbolic meanings, such as “520” and “1314,” are by default considered gifts expressing affection and cannot be reclaimed in the event of a breakup. However, in the case of large transfers where both parties have reached a mutual agreement on a loan, and chat records explicitly mention details such as the purpose of the borrowing, then