CLSA published a research report still believing that Chinese technology companies will deliver solid interim results, although the 1H25 China's smartphone market missed expectations. Demand was boosted by the significant price cuts of iPhones in China and the continued upgrading of optical configurations of Android products.

The market's concern about the US-China tariff policy, accelerated PC delivery ahead of schedule, LENOVO GROUP (00992.HK)  -0.070 (-0.720%)    Short selling $125.66M; Ratio 22.768%   's stable demand in the US after market price increases are believed to help ease investors' worries about the possibility of price hike for iPhone, CLSA said.

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The broker raised its net profit forecast for LENOVO GROUP for 1FQ ended June from US$301 million up to US$321 million, and kept rating at Outperform and target price at $11.

CLSA currently listed AAC TECH (02018.HK)  -0.450 (-1.114%)    Short selling $16.46M; Ratio 8.795%   , XIAOMI-W (01810.HK)  -1.000 (-1.705%)    Short selling $958.00M; Ratio 16.169%   and SMIC (00981.HK)  -0.700 (-1.533%)    Short selling $138.32M; Ratio 4.443%   as its top picks saying that AAC TECH's 1H25 growth is on track. The broker forecasted that its interim earnings could rise 49% YoY to RMB800 million, with rating kept at High Conviction Outperform and an unchanged target price of $66.1.

CLSA also anticipated SMIC's 2Q25 revenue to grow 1% QoQ, and added its target price to $59.2, with rating at Outperform. As for COWELL (01415.HK)  -0.050 (-0.179%)    Short selling $9.09M; Ratio 8.160%   , it is no longer a top pick at CLSA due to its recent larger share price increase.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-08 16:25.)

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