--- title: "Northbound Capital Trends | Northbound capital net purchases amounted to 3.824 billion, AI concept stocks show significant differentiation, Meituan receives additional investment from northbound capital" type: "News" locale: "en" url: "https://longbridge.com/en/news/248580970.md" description: "On July 15th, the Hong Kong stock market saw a net purchase of HKD 3.824 billion from northbound capital, with Meituan receiving a net purchase of HKD 646 million, CSPC PHARMA and KUAISHOU-W receiving net purchases of HKD 177 million and HKD 149 million, respectively. The stocks with the highest net sell-offs were Tencent, Xiaomi Group-W, and Semiconductor Manufacturing International Corporation. Meituan's instant retail daily order volume exceeded 150 million orders, CSPC PHARMA's new drug approval situation is good, and KUAISHOU's AI commercialization progress is significant" datetime: "2025-07-15T10:04:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/248580970.md) - [en](https://longbridge.com/en/news/248580970.md) - [zh-HK](https://longbridge.com/zh-HK/news/248580970.md) generator: "portal-rs" --- # Northbound Capital Trends | Northbound capital net purchases amounted to 3.824 billion, AI concept stocks show significant differentiation, Meituan receives additional investment from northbound capital According to Zhitong Finance APP, on July 15th in the Hong Kong stock market, northbound capital recorded a net purchase of HKD 3.824 billion, with the Shanghai-Hong Kong Stock Connect net purchase amounting to HKD 1.59 billion and the Shenzhen-Hong Kong Stock Connect net purchase reaching HKD 2.234 billion. The stocks with the highest net purchases from northbound capital were Meituan-W (03690), CSPC PHARMA (01093), and KUAISHOU-W (01024). The stocks with the highest net sales were Tencent (00700), XPeng (01810), and Semiconductor Manufacturing International Corporation (00981). ![图片.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250715/1752573554809894.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Active trading stocks in Shanghai-Hong Kong Stock Connect ![图片.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250715/1752573561643007.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Active trading stocks in Shenzhen-Hong Kong Stock Connect Meituan-W (03690) received a net purchase of HKD 646 million. In terms of news, according to Xinhua Finance, on July 15th, the Catering Industry Association of Honghuagang District, Zunyi City, issued a proposal calling for food delivery platforms to stop "involution-style" subsidies and unfair competition. Additionally, on July 13th, Meituan reported that as of July 12th, 23:36, the daily order volume for Meituan's instant retail exceeded 150 million orders. CMB International previously pointed out that the operations and scheduling on the merchant and rider side remain core to maintaining market share, and Meituan's food delivery still has a leading advantage with a high probability of maintaining market share. CSPC PHARMA (01093) received a net purchase of HKD 177 million. In terms of news, the Insight database shows that since 2025, CSPC PHARMA has had 9 Class 1 new drugs approved for clinical use in China for the first time. Among them, 5 new drugs have also achieved dual approval for IND in China and the U.S. UBS previously released a research report raising CSPC's target price to HKD 10 and reaffirming its buy rating, believing that the expected licensing transactions and effective control of sales expenses have not yet been reflected in the stock price. KUAISHOU-W (01024) received a net purchase of HKD 149 million. In terms of news, CITIC Securities released a research report stating that the commercialization of KuaLing AI is accelerating, and in April 2025, the company launched the KuaLing AI 2.0 video generation large model, which has world-leading performance, marking another enhancement of its technological barriers in the generative AI field. In Q1, KuaLing's revenue exceeded HKD 150 million, which is expected to help the company open up growth space Legendary Star (06683) received a net purchase of HKD 58.55 million. On the news front, on July 9th, Jay Chou officially joined the Douyin platform under the name "Zhou Tongxue," certified as a singer. Kaiyuan Securities has stated that Legendary Star has opened up a unique traffic monetization path of "own star IP + content scenarios + new retail," deeply binding two high-popularity star IPs, Jay Chou and Liu Genghong, to build a core barrier, and has currently constructed a rich star combination. After years of deep cultivation, the two major businesses of IP creation and operation, and new retail have formed independent self-sustaining capabilities, presenting a multiplicative effect of "IP potential × channel growth." AI concept stocks have shown significant differentiation, with Kingsoft Cloud (03896) receiving a net purchase of HKD 15.36 million, while Alibaba-W (09988) and Semiconductor Manufacturing International Corporation (00981) faced net sales of HKD 2.66 million and HKD 181 million, respectively. On the news front, the U.S. government approved NVIDIA's H20 export license. Cinda Securities pointed out that the H20 chip is currently an important AI accelerator in the Chinese market. Although its performance is not as good as the H100, it can achieve computing power close to the H100 in cluster mode by increasing the number of chips. The lifting of restrictions on the H20 can meet some domestic large model training and inference needs, which is beneficial for further enhancing the hardware and software capabilities of domestic AI models. Tencent (00700) faced a net sale of HKD 830 million. On the news front, CICC stated that Tencent's gaming business remains relatively healthy, while its advertising business shows steady driving force, with overall high-quality growth continuing. The firm pointed out that since previous AI investments have not yet reached the commercialization cycle, depreciation expenses caused by capital expenditures may further raise costs and expenses; Tencent also continues to rely on high-quality growth to achieve gross margin improvement from changes in revenue structure while maintaining relatively cautious expense spending. The firm expects a 14% year-on-year increase in adjusted operating profit and an 11% year-on-year increase in adjusted net profit for Q2 2025. In addition, China Travel Service (00308) and Health Road (02587) received net purchases of HKD 82.49 million and HKD 53.24 million, respectively. Meanwhile, Xiaomi Group-W (01810) and Guotai Junan International (01788) faced net sales of HKD 525 million and HKD 51.5 million, respectively ### Related Stocks - [01024.HK](https://longbridge.com/en/quote/01024.HK.md) - [01093.HK](https://longbridge.com/en/quote/01093.HK.md) - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) ## Related News & Research - [Kuaishou files HKEX next-day disclosure return, issues 2,472 new shares to lift share capital](https://longbridge.com/en/news/298450755.md) - [CSPC wins China clinical trial approval for SYH2083 dry eye drops](https://longbridge.com/en/news/298295585.md) - [CSPC Pharma wins China clinical trial clearance for SYH9102 goserelin injection](https://longbridge.com/en/news/298437479.md) - [KUAISHOU-W Buys back 455,000 Shares for ~HKD15M](https://longbridge.com/en/news/297979199.md) - [Meituan Food Delivery Launches Front-loaded Location Map and Store Environment Display Features for All Merchants](https://longbridge.com/en/news/298184052.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**