HK Stock Connect Daily Report: MINIMAX-W Up Nearly 12%, Z.AI Up Over 10%, Southbound Net Sell of HKD 7.6 Billion - 20260821

NewTimeSpace · 2026/08/21 18:22 · By Boyuan Chen

On August 21, the three major Hong Kong indices rose in tandem. The Hang Seng Index gained 1.21% to 26,009.46 points, back above the 26,000 level, and the Hang Seng TECH Index rose 1.40%, with turnover at HKD 257.3 billion. Gold stocks strengthened again, with CHIFENG GOLD up 12.4%; lithium miners performed strongly, with TIANQI LITHIUM up 11.74%; large-model concept stocks rose across the board, with MINIMAX-W up 11.86% and Z.AI up 10.4%. Southbound capital recorded a net sell of HKD 7.630 billion. The Hang Seng Index quarterly review results are due after close today, with Z.AI and MINIMAX-W tipped for blue-chip inclusion and 49 companies expected to gain Stock Connect eligibility; CHINA XLX FERT issued a positive profit alert expecting net profit up over 50%.

I. Market Overview

On August 21, the three major Hong Kong indices rose in tandem. The Hang Seng Index gained 1.21% to 26,009.46 points, back above the 26,000 level; the Hang Seng TECH Index rose 1.40%; and the Hang Seng China Enterprises Index rose 1.01%. Full-day turnover was HKD 257.277 billion.

On the market, gold stocks strengthened again, with CHIFENG GOLD (06693.HK) up 12.4% and SD GOLD (01787.HK) up 8.7%, as spot gold stood above USD 4,560. Lithium miners performed strongly, with TIANQI LITHIUM (09696.HK) up 11.74% and GANFENGLITHIUM (01772.HK) up 8.61%, as the main lithium carbonate futures contract surged over 4%. Container shipping stocks extended gains, with COSCO SHIP HOLD (01919.HK) up 5.4%, after Maersk raised its full-year guidance. Large-model concept stocks strengthened across the board, with MINIMAX-W (00100.HK) up 11.86% and Z.AI (02513.HK) up 10.4%. Optical communication concepts rose broadly, with YOFC (06869.HK) up 5.5%. mRNA concept stocks pulled back.

Southbound capital recorded a net sell of HKD 7.630 billion on the day. Within that, Stock Connect (Shanghai) saw a net sell of HKD 5.133 billion and Stock Connect (Shenzhen) a net sell of HKD 2.496 billion.

II. HK Stock Connect Stock Rankings

2.1 HK Stock Connect Stock Gainers and Decliners

Category	Stock Code	Stock Name	Change (%)	Close (HKD)	Turnover (HKD 100mn)
Gainer 1	02291.HK	SCIENTECH	20.53	14.68	1.41
Gainer 2	02706.HK	HAIZHI TECH GP	13.45	50.60	3.36
Gainer 3	06693.HK	CHIFENG GOLD	12.40	45.86	8.15
Gainer 4	00100.HK	MINIMAX-W	11.86	347.20	63.46
Gainer 5	09696.HK	TIANQI LITHIUM	11.74	37.70	3.70
Loser 5	06821.HK	ASYMCHEM	-7.49	119.80	2.41
Loser 4	06185.HK	CANSINOBIO	-8.05	29.48	7.33
Loser 3	03696.HK	INSILICO	-8.10	40.62	7.77
Loser 2	02665.HK	SEYOND	-9.07	2.46	0.24
Loser 1	09899.HK	NETEASE MUSIC	-15.54	95.10	3.84

Source: Wind, HKEX. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

2.2 HK Stock Connect Active Stocks (ranked by southbound turnover)

Rank	Stock Code	Stock Name	Southbound Turnover (HKD 100mn)	Southbound Net Buy (HKD 100mn)	Change (%)
1	09988.HK	ALIBABA-W	77.24	-12.83	-2.54
2	02513.HK	Z.AI	74.10	-3.71	10.36
3	09992.HK	POP MART	41.18	0.18	-3.06
4	00100.HK	MINIMAX-W	40.50	4.80	11.86
5	00700.HK	TENCENT	35.94	-7.03	1.24
6	06869.HK	YOFC	28.56	0.33	5.50
7	01810.HK	XIAOMI-W	26.55	-7.19	4.54
8	00981.HK	SMIC	23.54	-1.13	0.55
9	01888.HK	KB LAMINATES	13.56	-0.98	3.73
10	03986.HK	GIGADEVICE	11.66	-1.38	2.61

III. HK Stock Connect-related A-share ETF Rankings

3.1 HK Stock Connect-related A-share ETF Gainers and Decliners

Category	Code	Short Name	Change (%)	Turnover (RMB 100mn)
Gainer 1	513750	GF CSI HK Connect Financials (ex Banks) Thematic ETF	2.50	6.55
Gainer 2	520990	Invesco Great Wall CSI Guoxin HK Equities Central Enterprise Dividends ETF	1.63	1.62
Gainer 3	520680	China Southern CSI HK Equities Vehicles Industry Theme ETF	1.42	0.06
Gainer 4	520780	Hwabao WP CSI HK Equities Vehicles Industry Theme ETF	1.42	0.12
Gainer 5	513910	ChinaAMC CSI HK Equities Central Enterprise Dividends ETF	1.41	1.66
Loser 5	520880	Hwabao WP Hang Seng HK Innovative Drugs Selected ETF	-1.90	5.57
Loser 4	159567	Yinhua CNI HK Equities Innovative Drugs ETF	-1.92	10.40
Loser 3	159570	China Universal CNI HK Equities Innovative Drugs ETF	-1.92	21.86
Loser 2	159217	ICBCCS CNI HK Equities Innovative Drugs ETF	-1.96	5.58
Loser 1	159297	China Southern CNI HK Equities Innovative Drugs ETF	-1.96	2.12

Source: Wind. The content of this article is for the objective presentation of data only and does not constitute any investment advice, nor does it represent a recommendation for or value judgment on any security. The market involves risks; investment requires caution.

3.2 HK Stock Connect-related A-share ETF Active Rankings (ranked by turnover)

Rank	Code	Short Name	Tracking Index	Turnover (RMB 100mn)	Turnover Rate (%)	Change (%)
1	159570	China Universal CNI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	21.86	8.93	-1.92
2	159792	Fullgoal CSI HK Equities Internet ETF	CSI HK Equities Internet Index	16.91	4.26	-1.01
3	159131	Hwabao CSI HK Equities Information Technology Integration ETF	CSI HK Equities Information Technology Integration Index (RMB)	15.02	66.56	1.25
4	159567	Yinhua CNI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	10.40	13.70	-1.92
5	159316	E Fund Hang Seng HK Innovative Drugs ETF	Hang Seng HK Innovative Drugs Index	8.81	13.46	-1.75
6	513780	Invesco Great Wall CSI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	6.97	22.52	-1.27
7	513750	GF CSI HK Connect Financials (ex Banks) Thematic ETF	CSI HK Connect Financials (ex Banks) Thematic Index (RMB)	6.55	5.31	2.50
8	159506	Fullgoal Hang Seng HK Equities Innovative Drugs And Health Care ETF	Hang Seng HK Equities Innovative Drugs And Health Care Index	6.33	19.12	-1.56
9	513040	E Fund CSI HK Equities Internet ETF	CSI HK Equities Internet Index	5.79	9.03	-0.42
10	159217	ICBCCS CNI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	5.58	7.81	-1.96

IV. Industry and Corporate Updates

1. Hang Seng Index quarterly review results due after close today; Z.AI and MINIMAX-W tipped for blue-chip inclusion

On August 21, Hang Seng Indexes Company will release the official results of the second-quarter 2026 Hang Seng family index review after market close. CICC previously predicted that ZIJIN GOLD INTL (02259.HK), Z.AI (02513.HK) and MINIMAX-W (00100.HK) meet the criteria for inclusion as Hang Seng Index constituents; an estimated 49 companies are expected to gain Stock Connect eligibility through this adjustment. All changes will take effect on September 7. Z.AI and MINIMAX-W are both Stock Connect constituents.

2. CHINA XLX FERT issues positive profit alert, expecting first-half net profit up 52%–62%

On August 21, CHINA XLX FERT (01866.HK) issued a positive profit alert, expecting net profit of approximately RMB 1.15 billion to RMB 1.23 billion for the first half of 2026, up 52%–62% year-on-year; net profit attributable to owners of the company of approximately RMB 850 million to RMB 920 million, up 42%–54% year-on-year. The growth mainly benefits from the full release of scale efficiencies and continuous product structure optimization, with both volume and prices of main products rising to lift overall gross profit levels. CHINA XLX FERT is a Stock Connect constituent.

3. PINESTONE issues positive profit alert, expecting interim swing to profit of HKD 2–3 million

On August 20, PINESTONE (00804.HK) issued a positive profit alert, expecting to swing to a profit for the six months ended June 30 2026, recording net profit of HKD 2 million to HKD 3 million, compared with a net loss of approximately HKD 3.7 million in the same period of 2025. Despite lower total revenue due to decreased interest income from lending services and the absence of bond placement activities, the turnaround is mainly attributable to significant reductions in compliance, professional and agency fees as well as other expenses. PINESTONE is a Stock Connect constituent.

4. Bonasia (Hangzhou) Pharmaceutical Technology files listing application with HKEX, adding a new player to the CRO track

According to an HKEX disclosure on August 20, Bonasia (Hangzhou) Pharmaceutical Technology Co., Ltd. has submitted a main board listing application to HKEX, with CISI FIN and ICBC International as joint sponsors. Bonasia is a clinical contract research organization (CRO) dedicated to empowering innovative drug clinical research through digitalization. This filing follows the lapse of its previous application on February 11 2026. If the listing succeeds and conditions are met, the company is expected to enter the Stock Connect candidate pool.

5. Shenzhen Medcaptain Medical Technology passes HKEX listing hearing; global comprehensive medical device provider races toward Hong Kong listing

On August 20, Shenzhen Medcaptain Medical Technology Co., Ltd. passed the HKEX main board listing hearing, with Morgan Stanley and Huatai International as joint sponsors. The company is a global comprehensive medical device provider, with products sold to over 140 countries and regions worldwide and coverage of more than 6,000 hospitals in China (including approximately 90% of top-tier Class IIIA hospitals). The company previously filed twice, on September 11 2025 and March 11 2026. After passing the hearing, the company may list on the Hong Kong main board soon. If the listing succeeds and conditions are met, the company is expected to enter the Stock Connect candidate pool.

V. Market Notes

Eligible securities list adjustment announcement

No new announcements.

Trading calendar

No approaching market closure days.

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HK Stock Connect Daily Report SCIENTECH Alibaba-W GF CSI HK Connect Financials (ex Banks) Thematic ETF China Universal CNI HK Equities Innovative Drugs ETF