MONTAGE TECH (06809.HK) Launches IPO Today, Aiming to Raise Over $7 Billion; Minimum Investment Set at $10,796.8; Alibaba Among Key Cornerstone Investors
IPO Launch: MONTAGE TECH (06809.HK) has initiated its IPO, offering 65.89 million H shares with a price cap of HKD106.89 per share, aiming to raise approximately HKD7.043 billion. The public offering will run until February 4, with shares expected to list on February 9.
Financial Performance: The company reported a revenue of RMB4.06 billion for the first nine months of the previous year, marking a 57.8% year-over-year increase, and a profit of RMB1.63 billion, up 66.9%.
Key Investors: Cornerstone investors have committed USD450 million in shares, including major firms like JPMIMI, UBS Asset Management, and others.
Customer Base: MONTAGE TECH's primary customers include major memory module manufacturers and cloud service providers, with notable clients such as Micron, Samsung, and SK Hynix.
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HKD2.3 Billion Net Inflow from Southbound Trading into TENCENT
TENCENT's Trading Activity: TENCENT (00700.HK) saw a significant Southbound Trading net inflow of HKD2.3 billion, with a closing increase of 3.386% and a short selling ratio of 22.518%.
BABA-W and Other Stocks' Outflows: BABA-W (09988.HK), SMIC (00981.HK), and YOFC (06869.HK) experienced substantial Southbound Trading net outflows totaling HKD1.56 billion, with BABA-W showing a short selling ratio of 18.050%.
Market Overview: Overall, Southbound Trading net outflow was zero, accounting for 40.48% of the total transaction amount of HKD118.5 billion, indicating a balanced trading environment.
Analyst Insights: JPMorgan maintained a neutral stance on XIAOMI-W (01810.HK) but reduced its target price due to anticipated margin pressures, reflecting cautious sentiment in the market.
Short Selling Activity Reaches $45.2B, Representing 21% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $45.2 billion, accounting for 21% of the eligible securities turnover, an increase from 18.1% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include Tencent, Alibaba, BYD Company, CSOP HS Tech, and JD, with short selling ratios ranging from 18% to 52.3%.
Tencent Performance: Tencent had a short selling turnover of $2.72 billion, with a short selling ratio of 22.5%, reflecting a price increase of 3.39%.
JD-SW Highlights: JD-SW led with the highest short selling ratio at 52.3%, with a turnover of $1.49 billion and a significant price increase of 9.95%.
Short Selling Activity Reaches $20.5B, Representing 18.2% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $20.5 billion at midday, accounting for 18.2% of the turnover of eligible securities, slightly up from 18.1% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include TENCENT, BABA-W, XIAOMI-W, BYD COMPANY, and JD-SW, with JD-SW having the highest short selling ratio at 43.5%.
Individual Stock Performance: TENCENT saw a short selling turnover of $1.22 billion with a ratio of 16.3%, while BABA-W had a turnover of $1.10 billion, also with a ratio of 16.3%.
Market Trends: XIAOMI-W, BYD COMPANY, and JD-SW had notable short selling ratios of 19.4%, 37.3%, and 43.5% respectively, indicating varying levels of investor sentiment towards these stocks.
Alibaba Addresses Speculations About Qwen Model Team Resignation: Team Remains Stable, Services Continue as Usual
Clarification on Qwen Model Team: Alibaba has confirmed that the Qwen model team is stable and there has been no collective resignation, with all products and services functioning normally.
Commitment to Open-Source Strategy: The company reiterated its commitment to an open-source strategy for the Qwen model, emphasizing that the team is not bound by commercialization KPIs and aims to advance model intelligence towards AGI.
Short Selling Activity Reaches $51.4B, Representing 18.4% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $51.4 billion, accounting for 18.4% of the eligible securities turnover, a decrease from 20.8% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include TRACKER FUND (02800.HK) at $5.22B, BABA-W (09988.HK) at $2.77B, CSOP HS TECH (03033.HK) at $2.09B, TENCENT (00700.HK) at $1.95B, and HSCEI ETF (02828.HK) at $1.79B.
Short Selling Ratios: The short selling ratios for these top shares are TRACKER FUND at 13.7%, BABA-W at 16.1%, CSOP HS TECH at 18.5%, TENCENT at 16%, and HSCEI ETF at 10.7%.
Market Data Delay: It is noted that the stock quotes for Hong Kong stocks are delayed by at least 15 minutes, with the short selling data recorded as of March 5, 2026.
DeepMind from Google Offers Positions to Alibaba's Qianwen Team
Job Offer from DeepMind: Omar Sanseviero, head of Google's DeepMind, invited members of the Qianwen team to join their development efforts in the open model ecosystem via social media.
Future Development Plans: Sanseviero highlighted that there are many exciting elements on their development roadmap, indicating significant work ahead for the team.
Market Insights from UBS: UBS reported that if China successfully achieves reflation, the stock market could potentially rise by 20%, advising a reduction in exposure to the internet sector.
Resignation at Tongyi Lab: Junyang Lin's resignation from the Tongyi Lab has been approved, as reported in related news.
HKD2.3 Billion Net Inflow from Southbound Trading into TENCENT
TENCENT's Trading Activity: TENCENT (00700.HK) saw a significant Southbound Trading net inflow of HKD2.3 billion, with a closing increase of 3.386% and a short selling ratio of 22.518%.
BABA-W and Other Stocks' Outflows: BABA-W (09988.HK), SMIC (00981.HK), and YOFC (06869.HK) experienced substantial Southbound Trading net outflows totaling HKD1.56 billion, with BABA-W showing a short selling ratio of 18.050%.
Market Overview: Overall, Southbound Trading net outflow was zero, accounting for 40.48% of the total transaction amount of HKD118.5 billion, indicating a balanced trading environment.
Analyst Insights: JPMorgan maintained a neutral stance on XIAOMI-W (01810.HK) but reduced its target price due to anticipated margin pressures, reflecting cautious sentiment in the market.
Short Selling Activity Reaches $45.2B, Representing 21% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $45.2 billion, accounting for 21% of the eligible securities turnover, an increase from 18.1% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include Tencent, Alibaba, BYD Company, CSOP HS Tech, and JD, with short selling ratios ranging from 18% to 52.3%.
Tencent Performance: Tencent had a short selling turnover of $2.72 billion, with a short selling ratio of 22.5%, reflecting a price increase of 3.39%.
JD-SW Highlights: JD-SW led with the highest short selling ratio at 52.3%, with a turnover of $1.49 billion and a significant price increase of 9.95%.
Short Selling Activity Reaches $20.5B, Representing 18.2% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $20.5 billion at midday, accounting for 18.2% of the turnover of eligible securities, slightly up from 18.1% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include TENCENT, BABA-W, XIAOMI-W, BYD COMPANY, and JD-SW, with JD-SW having the highest short selling ratio at 43.5%.
Individual Stock Performance: TENCENT saw a short selling turnover of $1.22 billion with a ratio of 16.3%, while BABA-W had a turnover of $1.10 billion, also with a ratio of 16.3%.
Market Trends: XIAOMI-W, BYD COMPANY, and JD-SW had notable short selling ratios of 19.4%, 37.3%, and 43.5% respectively, indicating varying levels of investor sentiment towards these stocks.
Alibaba Addresses Speculations About Qwen Model Team Resignation: Team Remains Stable, Services Continue as Usual
Clarification on Qwen Model Team: Alibaba has confirmed that the Qwen model team is stable and there has been no collective resignation, with all products and services functioning normally.
Commitment to Open-Source Strategy: The company reiterated its commitment to an open-source strategy for the Qwen model, emphasizing that the team is not bound by commercialization KPIs and aims to advance model intelligence towards AGI.
Short Selling Activity Reaches $51.4B, Representing 18.4% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $51.4 billion, accounting for 18.4% of the eligible securities turnover, a decrease from 20.8% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include TRACKER FUND (02800.HK) at $5.22B, BABA-W (09988.HK) at $2.77B, CSOP HS TECH (03033.HK) at $2.09B, TENCENT (00700.HK) at $1.95B, and HSCEI ETF (02828.HK) at $1.79B.
Short Selling Ratios: The short selling ratios for these top shares are TRACKER FUND at 13.7%, BABA-W at 16.1%, CSOP HS TECH at 18.5%, TENCENT at 16%, and HSCEI ETF at 10.7%.
Market Data Delay: It is noted that the stock quotes for Hong Kong stocks are delayed by at least 15 minutes, with the short selling data recorded as of March 5, 2026.
DeepMind from Google Offers Positions to Alibaba's Qianwen Team
Job Offer from DeepMind: Omar Sanseviero, head of Google's DeepMind, invited members of the Qianwen team to join their development efforts in the open model ecosystem via social media.
Future Development Plans: Sanseviero highlighted that there are many exciting elements on their development roadmap, indicating significant work ahead for the team.
Market Insights from UBS: UBS reported that if China successfully achieves reflation, the stock market could potentially rise by 20%, advising a reduction in exposure to the internet sector.
Resignation at Tongyi Lab: Junyang Lin's resignation from the Tongyi Lab has been approved, as reported in related news.
