crashnitrokartremastered| Hong Kong stocks are heavy! Giant performance meets happiness + big moves, has the catalyst for a new round of market arrived?

RecentlyCrashnitrokartremasteredHong Kong stocks have entered the peak period of quarterly disclosure. Among the positions held in the Hang Seng Technology Index ETF (513180), Internet leaders such as Alibaba, Baidu Group, Tencent Holdings, JD.com Group and Kuaishou have been disclosed one after another, and the performance of some of them has exceeded market expectations.

After trading in Hong Kong yesterday, a number of positions in the Hang Seng Technology Index ETF (513180) disclosed the latest results, including Xiaomi, NetEase and other companies. Specifically:

1) Xiaomi doubled its adjusted net profit in the first quarter compared with the same period last year, with a sprint delivery target of 120000 vehicles for the whole of 2024CrashnitrokartremasteredXiaomi said that the gross profit margin of electric vehicles is about 5% Mur10%, and it is expected that the revenue and gross profit of the automobile business will be released separately in the second quarter. In addition, Xiaomi's smartphone business continued to pick up, with revenue up 32% in the first quarter compared with the same period last year.Crashnitrokartremastered.9% to 46.5 billion yuan, Xiaomi SU7 locked up a total of 8% in the automotive business that has attracted a lot of attention.Crashnitrokartremastered.8,000 vehicles.

2) NetEase's revenue in the first quarter increased by 7.2% over the same period last year, and its net profit increased by 13% compared with the same period last year. Games are still the mainstay of NetEase's business. Net income from games and related value-added services increased by 7 per cent year-on-year to 21.5 billion yuan, while Youdao's net income increased by 19.7 per cent to 1.4 billion yuan.

3) bilibili's revenue in the first quarter increased by 12% compared with the same period last year, and the net loss increased by 21.4% compared with the same period last year. The adjusted net loss was 456 million yuan, down 56 per cent from a year earlier. The operating cash flow in the first quarter was 638 million yuan, compared with 630 million yuan in the same period last year. Advertising revenue increased by 31% compared with the same period last year, the number of daily active users exceeded 100 million, and the number of monthly active users reached an all-time high.

4) Lenovo's fourth-quarter revenue was US $13.833 billion, an increase of 9% over the same period last year; profit attributable to equity holders increased by 118% to US $248 million, the third highest level in history; and it is proposed to pay an annual final dividend of HK30 cents per share.

Debang Securities in the recent research report that the intensive disclosure of Hong Kong stock performance, continue to be optimistic about Hang Seng technology investment opportunities. Tianfeng Securities (601162) believes that the performance of key Hong Kong stocks and Chinese stocks is eye-catching, and they continue to be optimistic about the growth value and revaluation opportunities of Internet platforms, new consumption, and new forces.

In addition, Alibaba recently announced on the Hong Kong Stock Exchange that the proposed private placement of convertible preferred notes with a total principal of US $4.5 billion due in 2031 will be used for share buybacks. Earlier, JD.com announced plans to issue a total of $1.75 billion of convertible bonds. JD.com said the convertible bond issue would enable it to take advantage of low financing costs (0.25% coupon) to accelerate the share buyback process of the current share price. the conversion share price is 45.7 per cent, with a market premium of about 35 per cent.

HSBC said it was not surprising that internet companies used the bond market to boost shareholder returns and that convertible bonds offered better financing options than ordinary bonds in the current high interest rate environment. Meituan, Tencent, NetEase and pinduoduo are also likely to follow. Meituan and Tencent are estimated to be the most likely companies to issue convertible bonds.