SSE Index

CATL

Conference Minutes

03750

300750

HCCD

000001

002364

By 2030, the combined market for power batteries and energy storage could exceed 4 TWh.Over the next few years, CAGR may surpass 25%-30%.

CATL HK SDR 30to1

Taiwan Semiconductor

ZHONHEN

CATL (1Q26 Trans): Q2 builds remain fully booked; capacity utilization holds at 85%-90%.

Financial Analysis

00710

000725

200725

BOE Technology Group Co., Ltd. (000725.SZ) released its financial report for the third quarter of 2025 (as of September 2025) after the A-share market closed on the evening of October 30, 2025, Beijing time. The key points are as follows: 1. Overall performance: BOE achieved a revenue of 53.3 billion yuan in the third quarter of 2025, an increase of 5.8% year-on-year. The significant rebound in the company's revenue was mainly driven by the recovery in panel prices. Due to relatively weak downstream demand, prices have started to stabilize, and the company's quarterly revenue remains around 50 billion yuan. BOE's net profit attributable to shareholders for the third quarter of 2025 was 1.36 billion yuan...

Blackrock Enhanced Global Div Trust

BOE VARITRONIX

BOE: Panel prices drop again, can a 1% slim profit margin hold up?

Today’s Key News Recap

01880

01211

AAPL

00388

MSFT

NVDA

GOOG

GOOGL

AMZN

COIN

OpenAI

DXYZ

601888

BYDDF

81211

HYDD

002594

BYDDY

80388

HKXCY

1030 ｜Dolphin Research Focus: 🐬 Macro/Industry 1. On October 29th, Eastern Time, the Federal Reserve announced its second rate cut of the year by 25 basis points, lowering the interest rate range to 3.75%-4%, and scheduled to end the balance sheet reduction on December 1st. However, the decision saw rare dissent, with one vote advocating for a 50 basis point cut and one vote opposing the rate cut. Powell stated that a rate cut in December is 'far from certain.' U.S. stocks rose first and then fell, with increased uncertainty in December's policy, coupled with high valuations in U.S. stocks, sector rotation may intensify. It is necessary to closely monitor subsequent employment and inflation data...

CTG DUTY-FREE

BYD COMPANY

Meta Platforms

Apple

HKEX

Microsoft

NVIDIA

Alphabet - C

Alphabet

Amazon

Coinbase

Destiny Tech100

BYD Company Limited

BYD COMPANY-R

BYD HK SDR 10to1

BYD Company

HKEX-R

Hong Kong Exchanges and Clearing (HKEX)

The US-China meeting ends with market volatility; Google and Meta experience 'two different worlds' after hours | Today's Important News Recap

Goertek

002241

01810

BYTED

XIACY

81810

AAPB

AAPD

AAPU

AAPX

AAPY

APLY

PERF

BIGGQ

MOVE

HXXD

PERF.WS

GoerTek Inc. released its Q3 2025 financial report (up to September 2025) after the A-share market closed on the evening of October 24, 2025, Beijing time. The key points are as follows: 1. Overall performance: revenue &amp; gross margin, both have rebounded. ① GoerTek Inc.'s total revenue for the third quarter of 2025 was 30.6 billion yuan, a year-on-year increase of 4.4%, better than the market expectation (28 billion yuan). The growth in the company's revenue was mainly driven by downstream customers' stocking, partly in preparation for the release of new products such as iPhone, AirPods, and MR in September; ② The company's gross margin for this quarter was 12.8%...

XIAOMI-W

ByteDance

Xiaomi Corporation

XIAOMI-WR

GraniteShares 2x Long AAPL Daily ETF

Direxion Daily AAPL Bear 1x Shares

Direxion Daily AAPL Bull 2X Shares

T-Rex 2X Long Apple Daily Target ETF

Kurv Yield Premium Strategy Apple Aapl ETF

YieldMax AAPL Option Income Strategy ETF

Perfect

BIG LOTS INC

Corvex

Ameriprise Financial

Xiaomi HK SDR 2to1

Perfect - CW27

GoerTek: Steady Stocking, Meta's Flat Performance, When Will VR/AR 'Make a Big Move'?

DJTWW

PHUN

0410｜Dolphin Research focuses on: 🐬 Macro/Industry 1. Trump's &#34;tariff attitude&#34; has undergone a major reversal, authorizing a 90-day tariff suspension for countries that do not take retaliatory actions. A White House spokesperson stated that tailored negotiations will continue. US stocks staged a violent rebound last night, and gold prices surged. It is worth mentioning that US Treasuries faced a fierce sell-off after the tariffs were implemented, reaching an extremely dangerous moment, and only after Trump's attitude reversal did the decline barely stop and begin to recover, avoiding a &#34;collapse&#34; predicament. Today, the markets in Hong Kong and A-shares are rebounding across the board, with the Shanghai Composite Index returning to 3200 points, although the situation has temporarily eased...

Trump Media & Tech

Trump Media & Tech - CW28

Phunware

The storm has temporarily subsided, will the situation reverse? | Review of today's important news

00HSI

07500

YINN

YANG

01179

HTHT

Dolphin focuses on: 🐬 Macro/Industry 1. Today, both Hong Kong and A-shares were collectively booming, with the Shanghai Composite Index recovering above 3300 points and the Hang Seng Index rising over 2.3%. The market is buzzing with &#34;short essays,&#34; mainly focusing on: 1) Two major meetings in December, with rumors suggesting one may be held earlier, as the market speculates on expectations for economic stimulus; 2) It is rumored that the December economic meeting will expand the deficit ratio to 4.5. However, currently, there is no clear evidence supporting these messages, and the direction of sentiment remains difficult to determine...

Hang Seng Index

FI2 CSOP HSI

Direxion FTSE China Bull 3X

Direxion FTSE China Bear 3X

HWORLD-S

H World

Hong Kong, A accelerates explosion! What happened? | Today's important news review

Bank Wealth Management Subsidiaries Accelerate Equity Market Entry, Highlighting IPO and Net Subscription Performance

Jilin Governor Hu Yuting Meets CNPC Chairman Dai Houliang to Discuss Deepening Cooperation in Green Energy and Other Fields

China Shenhua Announces April Coal Production at 40.6 Million Tons, Down 2.9% YoY

China Galaxy Securities Issues 2 Billion RMB Short-term Commercial Paper to Supplement Working Capital

Hua Hong Semiconductor Reports Q1 2026 Results: Revenue Up 22%, Announces $6 Billion Expansion for Fab9B

CCB Asia Extends Hours During Golden Week, New Accounts Surge 10-Fold Highlighting Cross-border Strength

Citi Maintains Buy Rating on CMOC with HK$29.3 Target; Copper Output Unaffected by Sulfur Price Hike

Hygon Information Unveils World's First Post-Quantum Cryptography Smooth Migration Solution

Morgan Stanley raises targets for SMIC and Hua Hong, citing AI-driven mature process shortage

China Mobile Announces Winning Bidders for 2026-2027 CPE OTN Equipment Procurement: Risun and Five Others Selected

Three Major Chinese Telecom Stocks Rise, Morgan Stanley Praises China Telecom's Token Plan for New AI Business Model

BeiGene 2026 Q1 Earnings Soar: Net Profit Surges 178x, Revenue Breaks 10 Billion RMB Barrier

GigaDevice Launches Three New Brushless Motor Gate Drivers

SMIC received 996 million yuan in financing purchases on May 18.

Xian Lianshe Research Institute estimates Q1 2026 life insurance agents' average monthly income at around 6,000 yuan

CICC maintains 'Outperform' rating on SMIC, citing benefits from localized production demand

Haier Group Ranks 53rd in Kantar BrandZ, Brand Value Reaches $52.949 Billion

Report: China's chip equipment localization shifts from trials to mass production

Jinhong Gas: Helium products have been stably supplied to clients such as SMIC

000300

399001

China's economy showed significant slowdown in April, with fixed-asset investment down 1.6%, retail sales rising only 0.2%, and industrial production growing at 4.1%, below expectations. Despite strong exports, domestic consumption remains weak, with new household loans declining and jobless rates for early-career workers rising. Policymakers are adopting a cautious approach amid ongoing economic challenges and high raw material costs.

- China’s economy experienced a broad slowdown in April, with fixed-asset investment declining 1.6% and retail sales rising only 0.2%, below expectations.  
- Industrial production also underperformed, growing 4.1%, significantly less than the anticipated 6%.  
- Despite strong exports and a slight decrease in the jobless rate to 5.2%, consumer confidence remains low, prompting cautious policymaking from Chinese authorities.

Straitstimes

CSI 300

Shenzhen Index

China economy slows sharply as investment returns to contraction

China April 2026 economic activity data. more to come

Investinglive

China April Retail Sales +0.2% y/y (exp 2%) & Industrial Prduction +4.1% y/y (exp 5.9%)

China's economic data for April indicates a K-shaped recovery, with industrial production expected to rise 6% while retail sales grow only 1.9%. Despite strong exports driven by AI and renewable energy demand, domestic consumption remains sluggish due to a weak job market and consumer caution. Policymakers are adopting a wait-and-see approach amid ongoing economic imbalances, with potential risks from the Iran crisis affecting tech exports.

- China's consumption growth in April is expected to be lower than industrial output growth, with a predicted retail sales increase of 1.9%.  
- Industrial production is anticipated to grow by 6%, driven by strong exports amid global AI investments and renewable energy demand.  
- Despite these positive indicators, weak domestic demand, a sluggish labor market, and ongoing geopolitical tensions pose significant challenges to consumer confidence and investment.

Businesstimes News

Citigroup

Goldman Sachs

Macquarie Group Limited

CITIGROUP INC 6.250 NON CUM SER II PFD WI

GS Hldg R

China’s K-shaped economic divide is extending to another quarter

The People's Bank of China (PBOC) reported that Aggregate Financing to the Real Economy for January to April 2026 was RMB15.45 trillion, falling short of the RMB16.08 trillion forecast. This figure marks a year-on-year decrease of RMB893 billion. Loans to the real economy totaled RMB8.5 trillion, down RMB1.29 trillion year-on-year. Notably, corporate bond financing rose to RMB1.5 trillion, while government bond financing decreased to RMB4.45 trillion. Equity financing by non-financial enterprises reached RMB200.8 billion, an increase of RMB65.5 billion year-on-year.

- The People's Bank of China announced that total financing to the real economy from January to April 2026 reached 15.45 trillion yuan, a decrease of 893 billion yuan from the previous year, falling short of the market expectation of 16.08 trillion yuan.  
- Loans to the real economy amounted to 8.5 trillion yuan, down 1.29 trillion yuan year-on-year, while foreign currency loans converted to yuan increased by 1.036 billion yuan.  
- Corporate bond financing netted 1.5 trillion yuan, rising 739.3 billion yuan compared to last year, although government bonds saw a decrease in net financing of 399 billion yuan.

AASTOCKS News

PBOC: Jan-Apr Aggregate Financing to the Real Economy (Flow) at RMB15.45T, Below Market Forecast of RMB16.08T

Chinese new bank loans fell by 10 billion yuan ($1.5 billion) in April, indicating weak credit demand, as borrowers repaid more than banks extended. This was significantly lower than the expected 325 billion yuan. Total social financing dropped to 620 billion yuan from 5.23 trillion yuan in March. Meanwhile, M2 money supply increased by 8.6% year-on-year, slightly above the anticipated 8.5%.

- Chinese new bank loans decreased by 10 billion yuan in April, indicating weak credit demand.  
- This decline was significantly lower than the expected 325 billion yuan, with borrowers repaying more than the amount extended by banks.  
- Total social financing fell sharply to 620 billion yuan from 5.23 trillion yuan in March, although the M2 money supply rose by 8.6% year-on-year.

MorningStar

China New Yuan Loans Fell in April

New yuan loans in April were -¥10 billion, indicating a concerning trend in credit demand. Year-to-date lending totals ¥8.59 trillion, down from ¥10 trillion last year. This decline suggests weakening economic momentum, prompting potential monetary policy easing by Beijing. Additionally, the US-Iran conflict is raising energy prices, further impacting China's economy, which relies on Iranian oil imports for about 15% of its total needs.

- In April, new RMB loans amounted to -100 billion, raising concerns about potential issues in credit demand following previous fluctuations.  
- The total new bank loans for the year so far reach 8.59 trillion RMB, significantly down from approximately 10 trillion RMB during the same period last year.  
- Weak credit demand signals a decline in economic momentum, which could lead Beijing to further loosen monetary policy, while rising energy prices from U.S.-Iran tensions add additional pressure on the Chinese economy.

China new bank loans disappoint in April as sluggish start to the year continues

China's economic data for April revealed significant slowdowns in growth, with investment declining and retail sales at their weakest in four years. Industrial production also grew at the slowest pace in three years, raising concerns about domestic consumption. Analysts are urging the government to consider stronger stimulus measures, as the disappointing figures suggest deeper economic vulnerabilities. Despite strong exports, the outlook for GDP growth remains cautious, with forecasts indicating potential growth as low as 4.1% in the second quarter.

ZeroHedge

Nomura

Nomura Holdings, Inc.

Société Générale

HSBC

HSBC HOLDINGS

Macquarie Group

HSBC 5xShortSG241213

HSBC Holdings Plc

"Shockingly Bad" Chinese Econ Data Stuns Wall Street, Sparks Hard Landing Concerns

Over 30 international institutional investors visited Beijing and Shanghai to engage with innovative tech firms, aiming to attract long-term foreign capital and enhance market transparency. The Shanghai Stock Exchange organized a roadshow for tech companies, promoting external openness and technological innovation. Industry insiders noted that international interest in Chinese assets is growing due to their stability and potential for industrial upgrades, suggesting a continued appeal for mainland stocks.

Yicai

Foreign Institutions Visit Beijing, Shanghai Bourses to Engage With Innovative Tech Firms

The National Bureau of Statistics reported steady growth in production and supply in the first four months of the year, with expanding market sales and stable employment. However, weak domestic demand remains a significant issue, and some enterprises face operational challenges. Authorities plan to implement proactive fiscal and accommodative monetary policies to enhance domestic demand and support economic recovery.

- The National Bureau of Statistics reported stable economic growth in the first four months, with market sales expanding and resilience in foreign trade.  
- However, challenges remain due to a complex external environment and weak domestic demand, with some businesses facing operational difficulties.  
- Moving forward, departments will focus on promoting stability and implementing proactive fiscal and moderately loose monetary policies to enhance domestic demand and foster sustainable economic development.

National Bureau of Statistics: Domestic Supply Strong but Demand Weak Remains Prominent; Foundation for Stable Economic Recovery Still Needs Consolidation

STECH

000905

中证1000

HSCEI

China's economic growth slowed in April, with industrial output rising 4.1% and retail sales only 0.2%, both missing forecasts. Domestic car sales fell 21.6%, marking seven months of decline. Fixed-asset investment contracted 1.6% in early 2026. Economists cite weak domestic demand and external risks from the Middle East conflict as factors. Despite a 5.0% growth in Q1, analysts warn of an uneven recovery, with the property market downturn continuing to impact growth.

- China's economic growth slowed in April, with industrial output increasing by only 4.1% and retail sales rising just 0.2%, significantly below expectations.  
- Factors such as high energy costs from the Iran war, weak domestic demand, and a drop in fixed-asset investment contributed to this downturn.  
- Economists warned that while exports held up, the ongoing property market downturn and rising input costs could further pressure the economy.

Business Standard

Hang Seng TECH Index

CSI 500

Hang Seng China Enterprises Index

China's April growth slows as factory output, retail sales miss forecasts

Is this preparing to recreate the April 7 stock market crash? Waiting for the A-share market to open.

Make a rough calculation

Ginger

ToSaveOthers

The US and Iran are at war, what to buy when the market opens next week? Almost everyone is saying: buy oil, buy gold, buy defense stocks. But no one tells you: hedge funds' net long positions in crude oil are at a 22-month high, gold has risen for 7 consecutive months, reaching a historical high of $5,278, and the defense sector has already risen 17% to 34% year-to-date. Smart money had already positioned itself before Friday. The price you can buy at Monday's open is the price they are willing to sell to you. In 2020, when the US killed Soleimani, oil prices jumped 4% on the first day, only to give back all gains within a week. In June 2025, when Israel struck Iran's nuclear facilities, oil prices rose over 12%...

What should we start buying in the US stock market next week?

SSE Index(000001.SH)

China economy slows sharply as investment returns to contraction

China April Retail Sales +0.2% y/y (exp 2%) & Industrial Prduction +4.1% y/y (exp 5.9%)

China’s K-shaped economic divide is extending to another quarter

PBOC: Jan-Apr Aggregate Financing to the Real Economy (Flow) at RMB15.45T, Below Market Forecast of RMB16.08T

China New Yuan Loans Fell in April