In its Asia-Pacific strategy report released in early June, Goldman Sachs listed the latest stocks (only Hong Kong stocks and Chinese ADRs) rated as Buy based on the Earnings Revision Leading Indicator (ERLI):

TENCENT (00700.HK)  -1.500 (-0.298%)    Short selling $328.31M; Ratio 3.588%  
BABA-W (09988.HK)  -0.400 (-0.364%)    Short selling $1.25B; Ratio 12.933%  
XIAOMI-W (01810.HK)  +0.200 (+0.334%)    Short selling $1.21B; Ratio 14.346%  
AIA (01299.HK)  +0.650 (+0.923%)    Short selling $300.79M; Ratio 15.957%  
CCB (00939.HK)  +0.230 (+2.904%)    Short selling $764.56M; Ratio 19.634%  
PDD (PDD.US)     
HKEX (00388.HK)  +4.400 (+1.051%)    Short selling $300.35M; Ratio 15.505%  
BANK OF CHINA (03988.HK)  +0.070 (+1.535%)    Short selling $399.42M; Ratio 18.651%  
PING AN (02318.HK)  +0.400 (+0.802%)    Short selling $545.74M; Ratio 23.036%  
CM BANK (03968.HK)  +1.150 (+2.097%)    Short selling $860.92M; Ratio 54.720%  
KUAISHOU-W (01024.HK)  -1.750 (-2.765%)    Short selling $191.78M; Ratio 8.549%  
CHINA LIFE (02628.HK)  +0.113 (+0.616%)    Short selling $80.97M; Ratio 6.487%  
PICC P&C (02328.HK)  +0.220 (+1.447%)    Short selling $117.72M; Ratio 30.095%  
LENOVO GROUP (00992.HK)  +0.020 (+0.212%)    Short selling $48.95M; Ratio 14.226%  
PSBC (01658.HK)  +0.040 (+0.730%)    Short selling $31.08M; Ratio 20.332%  
KINGDEE INT'L (00268.HK)  -0.320 (-2.073%)    Short selling $171.16M; Ratio 20.276%  
AAC TECH (02018.HK)  -0.800 (-1.966%)    Short selling $46.50M; Ratio 35.052%  
CICC (03908.HK)  -0.141 (-0.801%)    Short selling $32.61M; Ratio 7.467%  
BYD ELECTRONIC (00285.HK)  +0.100 (+0.314%)    Short selling $60.25M; Ratio 19.634%  
MNSO (09896.HK)  -0.150 (-0.421%)    Short selling $22.85M; Ratio 22.482%  
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Morgan Stanley published its China market report in mid-June, in which it listed its focus stocks in Hong Kong:

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Alibaba (BABA.US)     
CHINA RES POWER (00836.HK)  +0.500 (+2.640%)    Short selling $32.96M; Ratio 13.427%  
HKEX (00388.HK)  +4.400 (+1.051%)    Short selling $300.35M; Ratio 15.505%  
HKT-SS (06823.HK)  +0.080 (+0.683%)    Short selling $2.27M; Ratio 3.537%  
PETROCHINA (00857.HK)  +0.050 (+0.741%)    Short selling $32.81M; Ratio 7.057%  
PICC P&C (02328.HK)  +0.220 (+1.447%)    Short selling $117.72M; Ratio 30.095%  
TENCENT (00700.HK)  -1.500 (-0.298%)    Short selling $328.31M; Ratio 3.588%  
ZIJIN MINING (02899.HK)  +0.550 (+2.743%)    Short selling $485.77M; Ratio 31.056%  
ZTO (ZTO.US)     
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-02 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)