"Hong Kong Stocks" The Hang Seng Index opened 419 points lower, BYD-related stocks fell after earnings, aluminum stocks rose significantly

The Houthi armed forces in Yemen have joined the battle against Israel, causing international oil prices to rise by about 3%. Hong Kong stocks opened lower. The Hang Seng Index opened down 419 points or 1.7%, at 24,532 points; the National Index opened down 152 points or 1.8%, at 8,301 points; the Hang Seng Tech Index opened down 132 points or 2.8%, at 4,645 points.

PetroChina (00857.HK) reported a 4.5% decline in annual net profit, and the stock opened up 1.7% with the rise in oil prices. CNOOC (00883.HK) opened up 2%. Iran attacked aluminum companies in the UAE and Bahrain, causing aluminum stocks China Aluminum (02600.HK) and China Hongqiao (01378.HK) to open up 5.2% and 6.5%, respectively. Gas stock ENN Energy (02688.HK) reported a 1.4% decline in annual net profit, with the stock opening down 1.5%. Resource stock Luoyang Molybdenum (03993.HK) reported a 50% increase in annual net profit, with the stock opening flat at 16.78 yuan. Lithium stock Tianqi Lithium (09696.HK) turned from a loss to a profit with an annual net profit of 458 million yuan, opening up 1.6%.

BYD (01211.HK) reported a 19% decline in annual net profit, while its affiliate BYD Electronic (00285.HK) reported an 18% decline in annual net profit, with the stocks opening down 4.6% and 4%, respectively. Lei Jun indicated that the new generation SU7 delivered 4,000 to 5,000 vehicles in its first week, with Xiaomi (01810.HK) opening down 2.1%. In other automotive stocks, Li Auto (02015.HK) and Nio (09866.HK) opened down 2.9% and 2.8%, while XPeng (09868.HK) opened down 4.3%.

In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) opened down 1.7% and 2.2%, respectively. AIA (01299.HK) launched a $1.743 billion share buyback plan, with the stock opening flat at 85.65 yuan. China Construction Bank (00939.HK) and Industrial and Commercial Bank of China (01398.HK) reported annual net profit increases of 1% and 0.7%, with the stocks opening down 1.7%.

Rundong (01109.HK) reported a 0.5% decline in annual net profit, with the final dividend reduced to 96.6 cents, and the stock opened flat at 27.9 yuan. China Resources Mixc Lifestyle (01209.HK) reported a 10.3% increase in annual net profit, with a final dividend and special dividend totaling 85 cents, and the stock opened down 2.5%.

In other tech stocks, Tencent (00700.HK) opened down 1.7%, Alibaba (09988.HK) opened down 3.6%, Kuaishou (01024.HK) and Meituan (03690.HK) opened down 2.3% and 2.6%, respectively, JD.com (09618.HK) opened down 3%, Baidu (09888.HK) opened down 4.4%, and NetEase (09999.HK) opened flat at 173.1 yuan. Meitu (01357.HK) reported a 65% year-on-year increase in adjusted net profit, with the stock opening down 3.6%. Chip stocks SMIC (00981.HK) and Hua Hong Semiconductor (01347.HK) opened down 3.8% and 2.7%, respectively, while mobile component stock Sunny Optical (02382.HK) opened down 2.4% InnoCare Pharma (03696.HK) opened 14.9% higher, having reached a global pipeline licensing and AI drug development collaboration with Eli Lilly, which will qualify for a USD 115 million upfront payment, and further payments upon achieving development, regulatory, and commercialization milestones, bringing the total transaction value to approximately USD 2.75 billion.

Tencent Cloud signed an agreement with MiniMax (00100.HK) to launch comprehensive cooperation in the field of AI agents, with MiniMax opening 4.1% lower. Zhizhu (02513.HK) opened 2.6% lower. Fiber optic stock Yangtze Optical Fibre and Cable (06869.HK) reported a 20% increase in annual net profit, opening 1.8% lower.

Pharmaceutical stock Hansoh Pharmaceutical (03692.HK) reported a 27% increase in annual net profit, opening flat at HKD 32.56