--- title: "Hong Kong Internet ETF Intraday News | Daily profit of 150 million, Meituan soared 11% after performance! Hong Kong Internet ETF (513770) surged more than 2%" type: "News" locale: "en" url: "https://longbridge.com/en/news/212864478.md" description: "The Hong Kong Internet ETF (513770) rose more than 2% during the trading session stimulated by Meituan's performance. Meituan's second-quarter report showed revenue of 82.3 billion yuan, net profit of 13.6 billion yuan, performance exceeding expectations, with a daily average profit of 1.5 billion yuan. Internet-related stocks generally rose, with Tencent, Alibaba Health, and other stocks following suit. Analysts believe that the fundamentals of leading Internet companies have shown a slight rebound, which is expected to drive a long-term recovery trend in the Hong Kong Internet sector" datetime: "2024-08-29T05:59:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/212864478.md) - [en](https://longbridge.com/en/news/212864478.md) - [zh-HK](https://longbridge.com/zh-HK/news/212864478.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/212864478.md) | [繁體中文](https://longbridge.com/zh-HK/news/212864478.md) # Hong Kong Internet ETF Intraday News | Daily profit of 150 million, Meituan soared 11% after performance! Hong Kong Internet ETF (513770) surged more than 2% On the afternoon of the 29th, the Hong Kong stock market's technology and internet sector quickly rose, with nearly half of the stocks rising by more than 1%. Meituan led the gains with over 11%, China Civil Aviation Information Network also rose by over 10%, Weimob Group rose by over 6%, in addition, SenseTime, Ali Health, and 8 other stocks rose by over 2%, while Kuaishou, Tencent Holdings, and Bilibili followed the upward trend. ![Image](https://imageproxy.pbkrs.com/http://img.jrjimg.cn/2024/08/29/de3dd13f48e395c974da2461c90b54a5.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) In terms of popular ETFs, the **Hong Kong Internet ETF (513770)**, which is heavily invested in leading Hong Kong internet companies, continued to rise in the morning, with an intraday price increase of **2.01%** and real-time trading volume exceeding **1 billion yuan**. ![Image](https://imageproxy.pbkrs.com/http://img.jrjimg.cn/2024/08/29/de9a224a93cc49ec1c99190b4a155f51.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) After the market closed yesterday, another internet giant, Meituan, released its second-quarter report, exceeding profit expectations. The announcement showed that in the second quarter of this year, Meituan achieved revenue of 82.3 billion yuan, a year-on-year increase of 21%, with adjusted net profit of 13.6 billion yuan, a year-on-year increase of 77.6%; the total revenue for the first half of the year was 155.527 billion yuan, a year-on-year increase of 22.9%, with adjusted net profit of 21.1 billion yuan, a year-on-year increase of 60.4%. **Based on the 13.6 billion yuan profit in the second quarter, Meituan earned an average of 1.49 billion yuan per day in the second quarter of this year.** As of now, the top four heavily weighted stocks in the CSI Hong Kong Stock Connect Internet Index tracked by the Hong Kong Internet ETF (513770) - Meituan, Tencent Holdings, Xiaomi Group, and Kuaishou - have all shown impressive performance. ![Image](https://imageproxy.pbkrs.com/http://img.jrjimg.cn/2024/08/29/0b6ac5afc671bb34045bfb2ce2026818.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Guosen Securities pointed out that throughout the first half of the year, leading internet companies have shown characteristics of micro fundamental bottoming and recovery. They are now at the starting point of a small cycle recovery in micro enterprise operating efficiency, which will **drive the Hong Kong internet sector to start a long-term fundamental recovery trend.** In terms of positioning tools, the Hong Kong Internet ETF (513770) tracks the CSI Hong Kong Stock Connect Internet Index (931637), with weighted stocks including Tencent Holdings, Meituan, Xiaomi Group, Kuaishou, and other leading internet companies. The holdings of Tencent Holdings, Meituan, Xiaomi Group, Kuaishou, and JD Health account for over 60% of the total, with the top ten constituent stocks accounting for over 70% of the total weight, highlighting their leading attributes. As of the end of July, the Hong Kong Internet ETF (513770) had an average daily trading volume of 2.28 billion yuan this year, allowing for same-day trading, with good liquidity! \*\* ### Related Stocks - [MEITUAN-WR (83690.HK)](https://longbridge.com/en/quote/83690.HK.md) - [Meituan (MPNGY.US)](https://longbridge.com/en/quote/MPNGY.US.md) - [MEITUAN-W (03690.HK)](https://longbridge.com/en/quote/03690.HK.md) ## Related News & Research - [China regulator orders food delivery giants to strengthen safety controls](https://longbridge.com/en/news/281633054.md) - [Why Is Silver Down 4% Today, 4/2/26?](https://longbridge.com/en/news/281547191.md) - [PREVIEW-Samsung Elec likely to report stupendous surge in quarterly profit to record level](https://longbridge.com/en/news/281616659.md) - [Balanced Risk-Reward Amid Delivery Misses and Uncertain AI Execution Keeps Tesla at Hold](https://longbridge.com/en/news/281558821.md) - [Bye Bye, NVDA! 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