HK Stock Connect Daily Report: ZJ INNOLIGHT Officially Added to Stock Connect, Z.AI Surges Over 12%, Southbound Net Buying Reaches HKD 3.18 Billion - 20260827

NewTimeSpace · 2026/08/27 18:33 · By Xuran Lin

NewTimeSpace News: On 27 August 2026, the three major Hong Kong indices retreated in volatile trading, with the Hang Seng Index down 0.34% to 25,565.74 points, the Hang Seng TECH Index down 0.13%, and turnover at HKD 233.5 billion. Driven by NVIDIA's better-than-expected results, AI hardware stocks strengthened, with YOFC up 10.31% and KB LAMINATES up 10.51%; the twin large-language-model stocks shone, with Z.AI up 12.62% and MINIMAX up 3.83%. BIDU-SW gained 5.34% as its dual primary listing takes effect on 1 September, lifting inclusion expectations. Southbound capital recorded net buying of HKD 3.18 billion. ZJ INNOLIGHT was officially added to Stock Connect; SHEIN-W's public offering closed, with listing set for 1 September.

I. Market Overview

NewTimeSpace News: On 27 August 2026, Hong Kong equities failed to extend the rebound, with the three major indices retreating in volatile trading. The Hang Seng Index fell 0.34% to 25,565.74 points, the Hang Seng TECH Index eased 0.13%, and the Hang Seng China Enterprises Index declined 0.51%. Full-day turnover amounted to HKD 233.515 billion, down from the prior session.

On the trading front, driven by NVIDIA's second-quarter results beating expectations across the board, AI hardware names including memory and optical communications strengthened: YOFC (06869) rose 10.31%, KB LAMINATES (01888) gained 10.51%, and ZJ INNOLIGHT (03308) added 3.05%. The twin large-language-model stocks shone: Z.AI (02513) surged 12.62% after launching and open-sourcing GLM-5.3-Flash, while MINIMAX-W (00100) rose 3.83% with first-half revenue up 283% year on year and August ARR surpassing USD 800 million. BIDU-SW (09888) gained 5.34% as its dual primary listing takes effect on 1 September, lifting expectations of inclusion in Stock Connect. Beer stocks were weak throughout the day, with TSINGTAO BREW (00168) down 3.45% and CHINA RES BEER (00291) down 3.18%.

Southbound capital recorded net buying of HKD 3.18 billion on the day, comprising HKD 1.575 billion via Stock Connect (Shanghai) and HKD 1.605 billion via Stock Connect (Shenzhen).

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	03692.HK	HANSOH PHARMA	16.01	36.82	12.08
Gainer 2	02718.HK	MININGLAMP-W	15.97	41.98	2.36
Gainer 3	02513.HK	Z.AI	12.62	1,160.00	76.54
Gainer 4	06809.HK	MONTAGE TECH	12.30	301.20	19.23
Gainer 5	06855.HK	ASCENTAGE	12.08	36.92	1.69
Decliner 5	06186.HK	CHINA FEIHE	-9.95	2.94	2.02
Decliner 4	03288.HK	HAITIAN FLAV	-11.21	29.00	4.55
Decliner 3	00811.HK	XINHUA WINSHARE	-11.56	8.11	0.80
Decliner 2	03393.HK	WASION HOLDINGS	-13.77	14.91	2.47
Decliner 1	01405.HK	DPC DASH	-14.06	32.14	0.93

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	02513.HK	Z.AI	59.06	-5.56	12.62
2	06869.HK	YOFC	53.47	0.23	10.31
3	01888.HK	KB LAMINATES	31.65	-0.64	10.51
4	00100.HK	MINIMAX-W	28.61	8.78	3.83
5	00981.HK	SMIC	26.27	2.72	2.30
6	01810.HK	XIAOMI-W	24.38	4.92	-3.44
7	09988.HK	ALIBABA-W	23.25	-0.15	-0.94
8	01347.HK	HUA HONG GRACE	22.02	3.39	4.51
9	03986.HK	GIGADEVICE	15.96	-2.16	7.05
10	00700.HK	TENCENT	14.24	4.47	0.54

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	159286	Penghua CNI HK Equities Innovative Drugs ETF	1.28	0.97
Gainer 2	520880	Hwabao WP Hang Seng HK Innovative Drugs Selected ETF	1.27	3.93
Gainer 3	159570	China Universal CNI HK Equities Innovative Drugs ETF	1.26	20.94
Gainer 4	526030	China Universal CSI HK Equities Information Technology Integration ETF	1.25	0.47
Gainer 5	159316	E Fund Hang Seng HK Innovative Drugs ETF	1.25	8.41
Decliner 5	159735	Yinhua CSI HK Equities Consumption Theme ETF	-1.61	0.22
Decliner 4	159268	China Universal CNI HK Equities Consumption Theme ETF	-1.62	0.21
Decliner 3	159285	Huaan CNI HK Equities Consumption Theme ETF	-1.63	0.09
Decliner 2	159239	Fullgoal Hang Seng HK Automobile Theme ETF	-1.64	0.07
Decliner 1	520780	Hwabao WP CSI HK Equities Vehicles Industry Theme ETF	-1.66	0.26

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	20.94	8.53	1.26
2	159131	Hwabao CSI HK Equities Information Technology Integration ETF	CSI HK Equities Information Technology Integration Index	16.21	71.97	1.03
3	159792	Fullgoal CSI HK Equities Internet ETF	CSI HK Equities Internet Index	10.18	2.68	-1.37
4	159567	Yinhua CNI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	9.86	12.84	1.10
5	159316	E Fund Hang Seng HK Innovative Drugs ETF	Hang Seng HK Innovative Drugs Index	8.41	12.96	1.25
6	513780	Invesco Great Wall CSI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	7.20	22.11	1.09
7	520700	Wanjia CSI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	5.77	78.91	0.71
8	513750	GF CSI HK Connect Financials (ex Banks) Thematic ETF	CSI HK Connect Financials (ex Banks) Thematic Index (RMB)	5.64	4.52	-0.52
9	159506	Fullgoal Hang Seng HK Equities Innovative Drugs And Health Care ETF	Hang Seng HK Equities Innovative Drugs And Health Care Index	5.47	15.79	0.52
10	159217	ICBCCS CNI HK Equities Innovative Drugs ETF	CNI HK Equities Innovative Drugs Index	5.38	7.34	1.06

IV. Industry and Corporate Updates

1. ZJ INNOLIGHT Officially Added to Stock Connect, Effective 27 August

On 27 August, the Shenzhen Stock Exchange (SZSE) announced that, pursuant to the relevant provisions of the Shenzhen Stock Exchange Implementation Rules for Shenzhen-Hong Kong Stock Connect Business, the constituent list of Stock Connect target securities was adjusted to add ZJ INNOLIGHT (03308.HK), effective 27 August 2026. ZJ INNOLIGHT is a leading supplier of high-speed optical modules for AI data centers, having completed its "A+H" dual listing on the Main Board of the Hong Kong Stock Exchange on 30 July—the largest Hong Kong IPO of the year so far. Following its inclusion in Stock Connect, mainland investors can trade its H-shares directly through the Stock Connect channel.

2. SHEIN-W Public Offering Closes Today; Margin Financing Totals HKD 6.465 Billion; Listing Set for 1 September

On 27 August, global online fashion retailer SHEIN-W (00625.HK) closed its public offering at midday, with the offer period running from 24 to 27 August. The offer price ranges between HKD 47.6 and HKD 49.5 per share, with a board lot of 100 shares. As of 11:10 a.m. on 27 August, margin financing totaled HKD 6.465 billion, implying an oversubscription multiple of approximately 4.66 times based on the public offering size of HKD 1.386 billion. The company expects to announce results on 31 August and list on 1 September. The IPO has attracted seven cornerstone investors, including Huang River, an affiliate of Tencent, subscribing for a combined approximately USD 383 million.

3. LEE'S PHARM Issues Positive Profit Alert, Expecting Interim Net Profit Up 26% to 41%

On 26 August, LEE'S PHARM (00950.HK) issued a positive profit alert, expecting interim profit attributable to shareholders of between HKD 85 million and HKD 95 million, an increase of approximately 26% to 41% from HKD 67.2 million in the same period of 2025. The growth is mainly attributable to revenue growth and improved overall gross margin. LEE'S PHARM is a Stock Connect target.

4. LX TECHNOLOGY Issues Positive Profit Alert, Expecting Interim Net Profit Up Approximately 300%

On 17 August, LX TECHNOLOGY (02436.HK) issued a positive profit alert, expecting net profit for the six months ended 30 June 2026 to surge to approximately RMB 20 million, an increase of approximately 300% from approximately RMB 4.9 million in the same period of 2025. The company held a board meeting on 27 August to approve its interim results. LX TECHNOLOGY is a Stock Connect target.

5. STAR SHINE HLDG Holds Board Meeting Today to Approve Interim Results, After Positive Profit Alert Expecting a Turnaround to Profit

On 27 August, STAR SHINE HLDG (01440.HK) held a board meeting to review and approve its interim results for the six months ended 30 June 2026. The company had previously issued a positive profit alert, expecting interim net profit of no less than approximately RMB 24 million, a year-on-year turnaround to profitability. STAR SHINE HLDG was added to the Hang Seng Composite Index on 21 August, effective 7 September, and may subsequently be included in Stock Connect. STAR SHINE HLDG is a potential Stock Connect target.

V. Market Notes

Eligible securities list adjustment announcement

On 27 August, the SZSE announced an adjustment to the Stock Connect target securities list, adding ZJ INNOLIGHT (03308.HK), effective that day.

Trading calendar

No approaching market closure days.

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HK Stock Connect Daily Report HANSOH PHARMA Z.AI Penghua CNI HK Equities Innovative Drugs ETF China Universal CNI HK Equities Innovative Drugs ETF