GMT EIGHT - OPPORTUNITIES IN CHINA

COSCO Shipping Energy Transportation: Net profit in the first quarter was 2.173 billion yuan, a year-on-year increase of 206.74%

China COSCO Shipping Corporation announced that its revenue in the first quarter of 2026 was 73.03 billion yuan, a year-on-year increase of 26.92%; net profit was 21.73 billion yuan, a year-on-year increase of 206.74%. This is mainly due to the company maintaining a high position in the international oil transportation market this period, as well as seizing market opportunities and implementing lean management internally, resulting in an overall increase in efficiency.

CATL plans to raise $5 billion through a new stock offering in Hong Kong.

WuXi AppTec (02359) reported a net profit attributable to shareholders of 4.652 billion yuan in the first quarter, an increase of 26.68% year-on-year.

WuXi AppTec (02359) announced that the company achieved a total operating income of 12.44 billion yuan in the first quarter of 2026, an increase of 28.8% year-on-year, with the revenue from continuing operations increasing by 39.4% year-on-year. The net profit attributable to shareholders of the listed company was 4.652 billion yuan, a year-on-year increase of 26.68%. The basic earnings per share were 1.59 yuan. As of the end of March 2026, the company's order backlog for continuing operations was 59.77 billion yuan, a year-on-year increase of 23.6%.

WuXi AppTec: Net profit in the first quarter increased by 26.68% year-on-year.

Yao Ming Kangde announced that its revenue in the first quarter was 12.436 billion yuan, an increase of 28.81% year-on-year, and net profit was 4.652 billion yuan, an increase of 26.68% year-on-year.

National Development and Reform Commission: Prohibition of foreign investment acquisition of Manus project; requires cancellation of transactions.

The Office of the Mechanism for Foreign Investment Security Review (National Development and Reform Commission) legally and in accordance with regulations has issued a prohibition on the foreign acquisition of the Manus project, requiring the parties involved to withdraw from the acquisition transaction.

The Office of the Mechanism for Foreign Investment Security Review has made a decision to prohibit investment in the Manus project by foreign capital in accordance with the law and regulations, and has required the parties involved to rescind the acquisition transaction.

Our country plans to revise the agriculture law to accelerate the construction of a strong agricultural nation.

The draft of the revised Agricultural Law was submitted to the 22nd session of the Standing Committee of the 14th National People's Congress for its first review on April 27. This revision aims to further consolidate and strengthen the basic status of agriculture in the national economy, adhere to the concept of large-scale agriculture and large-scale food production, promote high-quality development of agriculture, advance comprehensive rural revitalization, accelerate the construction of an agricultural powerhouse, and provide strong legal protection for the modernization of agriculture and rural areas. The Agricultural Law is a fundamental law in the field of agriculture and rural economy, established in 1993, comprehensively revised in 2002, and amended in individual articles in 2009 and 2012.

In the first quarter of 2026, the insurance industry achieved a premium income of 2.31 trillion yuan, a year-on-year increase of 6.2%.

On April 27, the China Insurance Industry Association held its first regular press conference of 2026. Fang Yong, a member of the Party Committee and Deputy Secretary-General of the China Insurance Industry Association, introduced that in the first quarter of 2026, the insurance industry achieved premium income of 2.31 trillion yuan, a year-on-year increase of 6.2%; claims expenditures were 0.89 trillion yuan, a year-on-year increase of 7.5%. Specifically, in the first quarter, property insurance companies achieved premium income of 530.2 billion yuan, a year-on-year increase of 2.9%; claims expenses were 258.2 billion yuan, a year-on-year increase of 3.4%. Life insurance companies achieved premium income of 1.78 trillion yuan, a year-on-year increase of 7.3%; claims and benefits paid were 631.1 billion yuan, a year-on-year increase of 9.3%. According to industry exchange data submitted by member units of the China Insurance Industry Association, preliminary statistics show that in the first quarter of 2026, foreign insurance companies achieved premium income of approximately 212.6 billion yuan, a year-on-year increase of 12.5%. Fang Yong stated that it is expected that the insurance industry will maintain steady development in 2026, with growth rates synchronized with economic and social development, and the effects of doing well in the "Five Major Financial Articles" will be further demonstrated.

Chinese respond to American sanctions on Chinese companies

On April 27th, Foreign Ministry spokesperson Lin Jian presided over a regular press conference. A Bloomberg reporter asked about the United States imposing sanctions on a Chinese private oil refining company for its links with Iran, with the US Treasury Department announcing last Friday that the Chinese company has been blacklisted. What is the Foreign Ministry's comment on this? Lin Jian stated that China has always opposed illegal unilateral sanctions without international legal basis, urging the US to stop the wrongful practices of imposing sanctions and extraterritorial jurisdiction. China will resolutely defend the legitimate rights and interests of its domestic enterprises.

Polycrystalline silicon main contract continuously fell 6% intraday, currently trading at 39430.00 yuan.

Midday: The Science and Technology Innovation Index has risen more than 3% in the morning, with semiconductor, PCB, and other computing hardware stocks collectively rising.

In the morning session, the three major indexes of A-shares showed mixed movements. As of midday, the Shanghai Composite Index rose by 0.15%, the Shenzhen Component Index rose by 0.52%, the ChiNext Index fell by 0.2%, and the CSI 50 Index fell by 0.76%. The total turnover of the entire market was 1.7108 trillion yuan, a decrease of 29.4 billion yuan from the previous day, with over 2500 individual stocks rising. In terms of sector themes, the electronic chemicals, PET copper foils, semiconductor, PCB concepts, AI smartphones, CPO, optical fiber concepts, duty-free shops, gaming, and coal mining and processing sectors performed well. On the other hand, the liquor, food, defense equipment, pork, tourism and hotel, diversified financial, and photovoltaic equipment sectors experienced declines. The continuous rise in helium prices drove the strength of the electronic chemicals and industrial gases sectors, with Jin Hong Gas and Guanggang Gas leading the way. NVIDIA's market value returning to 5 trillion yuan boosted sentiment in the AI industry chain, with most of the PCB industry chain witnessing increases, led by copper foil companies such as Defu Technology and Tongguan Copper Foil with increases of over 10%. Moore Threads turned losses into profits in the first quarter, and the domestic computing power industry chain performed well, with Moore Threads, North Huachuang, and Huahaicheng Technology leading the gains. Additionally, there was rotation in sectors like optical fibers, CPO, and duty-free shops throughout the trading session. Conversely, Guizhou Maotai's first quarter report falling short of market expectations led to a decline in the liquor sector, with Guizhou Maotai falling nearly 4% during the session. The food and pork sectors also performed poorly, with Hei Zhima hitting the limit down and Tianbang Food and Muyuan stocks falling one after another.

Displaying the business "ballast," innovating the business "catalyst," the offensive and defensive strategy of TCL ELECTRONICS (01070)

TCL Electronics, which can attack and defend, is worth paying attention to.

The trading volume of the Shanghai and Shenzhen stock markets exceeded 1 trillion yuan, an increase of 62.3 billion yuan compared to the same time the previous day.

The Hang Seng Technology Index rose more than 1%, now at 4952.320 points; the Hang Seng Index is now up 0.179%.

National Bureau of Statistics: The profits of China's industrial enterprises above a designated size increased by 15.5% year-on-year in the first quarter of the year.

In January to March, the total profits of industrial enterprises above designated size in the country reached 1.69604 trillion yuan, an increase of 15.5% year-on-year.

War does not stop the new high of US stocks! 160 billion technology giants face a "big test" this week: continue to soar or bubble burst?

After experiencing a strong week in the market, investors are now facing the busiest earnings week of the season, with the results set to be a key test of the sustainability of the current uptrend.

Guan Tao: Disturbances in the Middle East demonstrate the resilience of China's foreign exchange market.

The US dollar index has strengthened, non-US currencies have generally fallen, and the Renminbi exchange rate has returned to a "three-in-one" level.

"The Big Short" Michael Burry bets on a semiconductor sector pullback! Establishing a short position in SOXX ETF amid a record-breaking rally.

Investor Michael Burry, famous for being the prototype of the film "The Big Short," has established a new short position by buying put options on the iShares Semiconductor ETF (SOXX).

Overnight US stocks | Nasdaq and S&P 500 indexes hit new highs, chip stocks rose across the board.

As of the close, the Dow fell 79.61 points, down 0.16%, to 49,230.71 points; the Nasdaq rose 398.09 points, up 1.63%, to 24,836.60 points; the S&P 500 index rose 56.68 points, up 0.80%, to 7,165.08 points.

The film "The Big Short" prototype famous investor Michael Burry wrote on Substack that he has established a new short position by buying put options on iShares Semiconductor ETF (code SOXX). He bought put options on SOXX that expire in January 2027 with a strike price of $330. The Philadelphia Semiconductor Index rose for the 18th consecutive trading day on Friday, setting a record. Burry wrote, "I know the Philadelphia Semiconductor Index will fall, and so do the old generation semiconductor practitioners. The current rise is more due to technical factors. The narrative of a chip supply shortage amid the massive expansion of data centers is very powerful." If he held long positions in semiconductor stocks, he would choose to sell now.

The three major U.S. stock indexes are mixed, with the Nasdaq rising more than 1% to hit a new high.

The three major U.S. stock indexes fluctuated differently, with the Dow falling by 0.12%, the Nasdaq rising by 1.65%, and the S&P 500 rising by 0.83%. Large-cap technology stocks generally rose, with Intel up more than 23%, AMD up more than 13%, SanDisk up more than 6%, Nvidia up more than 4%, Amazon up more than 3%, Meta, Microsoft, and Micron up more than 2%, Google up more than 1%, Tesla slightly up, Apple and Netflix slightly down, and Oracle down by more than 1%.

The Nasdaq China Golden Dragon Index rose more than 0.5%, Jia Nan Technology rose 5.86%, Wanguo Data rose 3.79%, Century Internet rose 3.00%, Zaiding Pharmaceuticals rose 3.56%, and Ates rose 3.58%.

Insurance Authority of Hong Kong: The total gross insurance premium for 2025 is HK$827 billion, a year-on-year increase of 29.7%.

On April 24, the Insurance Authority of Hong Kong released interim statistics for 2025, with a total gross premium of HK$827 billion, up 29.7% year-on-year.

Putin may attend G20 summit in the US.

According to the International News Agency, Russian President Putin may travel to Miami, USA to attend the G20 Summit.

Selected A-share announcements | Zhongji Innolight(300308.SZ) starts mass production and shipment of 1.6T products, 2 dead in subsidiary of Hunan Gold Corporation(002155.SZ)

Zhongji Xuchuang announced that the company's 1.6T product has already begun mass production and is expected to see an increase in shipments every quarter. The company is optimistic about the continuous growth in demand for AI computing power in the coming years and the increase in investment in AI infrastructure.

New Stock News | XTransfer submits application to Hong Kong Stock Exchange.

According to the disclosure by the Hong Kong Stock Exchange on April 24th, Extransfer Limited-W (abbreviated as XTransfer) has submitted its application for listing on the main board of the Hong Kong Stock Exchange, with UBS Group and China International Capital Corporation acting as its joint sponsors.

State Council Meeting: Discussing Work Related to Technological Innovation.

Li Qiang presided over the State Council executive meeting to discuss matters related to technological innovation.

The Nasdaq 100 index futures continued to rise, reaching an intraday high of 1.1%.

Chifeng Jilong Gold Mining (06693) recorded a first-quarter net profit attributable to the parent company of 988 million yuan, an increase of 104.43% year-on-year.

Chifeng Gold (06693) released its first quarter report for 2026, with the company achieving operating income of RMB 3.54 billion, an increase of 47.65% year-on-year; net profit attributable to shareholders of the listed company reached RMB 0.988 billion, an increase of 104.43% year-on-year; basic earnings per share were RMB 0.52.

ZTE Corporation (00763) reported a net profit attributable to shareholders of 1.31 billion yuan in the first quarter, a decrease of 46.58% year-on-year.

ZTE Corporation (00763) released its first quarter report for 2026, with operating revenue of 34.988 billion yuan, an increase of 6.13% year-on-year; net profit attributable to shareholders was 1.31 billion yuan, a decrease of 46.58% year-on-year; basic earnings per share was 0.27 yuan.

Great Wall Motor (02333) reported a first quarter net profit attributable to shareholders of 945 million yuan, a decrease of 46.01% year-on-year.

Great Wall Motors (02333) released its first quarter report for 2026, with the group achieving a total operating income of 45.109 billion yuan, an increase of 12.72% year-on-year; the net profit attributable to shareholders of the listed company was 945 million yuan, a decrease of 46.01% year-on-year; and the basic earnings per share were 0.11 yuan.

Stellantis (STLA.US) restructures its brand investment logic: resources focus on profit core.

Insiders say that Stellantis will focus its funds on core automotive brands during the CEO-led transformation.

Zhaojin Mining (01818) reported a net profit attributable to shareholders of 1.189 billion yuan in the first quarter, an increase of 80.44% year-on-year.

Zhaojin Mining (01818) released its first quarter report for 2026, with an operating income of 4.46 billion yuan, a year-on-year increase of 46.67%; a net profit attributable to shareholders of 1.189 billion yuan, a year-on-year increase of 80.44%; and basic earnings per share of 0.32 yuan.

The Hong Kong Securities and Futures Commission is once again participating in global regulatory efforts to combat illegal activities by financial influencers.

The Hong Kong Securities and Futures Commission is collaborating with securities regulatory agencies around the world to combat illegal activities of financial influencers.

From NVIDIA's AI error correction to Cisco's aim at "quantum interconnection", the quantum craze is once again creating a huge wave! Technology giants are competing in the commercialization of quantum computing.

Quantum computing is becoming the most sought-after next-generation "grand technology narrative" after the AI super wave.

The resold ticket for the final World Cup match between the United States, Canada, and Mexico was priced at nearly $2.3 million.

The official FIFA ticket resale platform recently had 4 tickets for the 2026 FIFA World Cup final, with each ticket priced at close to $2.3 million. It is understood that these 4 tickets were for the World Cup final held on July 19 at the MetLife Stadium in East Rutherford, New Jersey. Each ticket was priced at $2,299,998.85, with seats located in section 124, lower tier behind the goal, row 45, seats 33 to 36. On that day, the lowest price for final tickets on the platform was $10,923.85. According to the United States, FIFA does not control the resale prices of tickets in the market, but charges a 15% commission from both the buyer and seller of each ticket. The FIFA World Cup in the United States, Canada, and Mexico is scheduled to be held in 16 cities from June 11 to July 19. Earlier this month, FIFA said that ticket sales data from the completed three rounds showed a record high number of successful ticket purchases from fans around the world. This event is expected to break the record of 3.5 million spectators set at the 1994 World Cup in the United States. The high ticket prices this year have been criticized by several fans' organizations, but FIFA President Infantino has stated that this is a result of high demand, "the United States has a dynamic pricing model, meaning prices will rise or fall based on the specific game."

Hong Kong stocks mid-day review: rebound near midday! Hang Seng Technology rose 0.34%, semiconductor stocks surged significantly

The three major stock indexes in Hong Kong rebounded near midday, with the Hang Seng Technology Index and the state-owned enterprise index rising by 0.34% and 0.09% respectively, while the Hang Seng Index continued to fall by 0.2%. Weighted technology stocks that had been declining continuously saw some recovery, with Baidu surging more than 2% in a straight line, Alibaba in the green, and Tencent, Xiaomi, and JD.com down by less than 0.6%. Semiconductor stocks showed a significant increase, with Huahong Semiconductor leading the gains, while oil stocks, brain-computer interface stocks, and robotics stocks all rose. Additionally, spot gold fell below $4700 again, with inflation prospects becoming a market focus. Gold stocks continued their weak trend, with Walc Nuclear Materials leading the decline by more than 12% after its performance, followed by a decline in nuclear power stocks, as well as lackluster performances in lithium battery stocks, Macau casino stocks, and aviation stocks.

Longitude and latitude have fallen 68%, previously announced the implementation of a stock "one for four" plan.

As of the deadline for submission, JWTD's stock has dropped by 68.20%. In terms of news, JWTD previously announced a detailed timetable for its stock split. The company will implement a "one-for-four" stock split plan, dividing each existing share into four new shares to adjust its stock price and liquidity.

DeepSeek-V4 preview version officially launched, providing a brand new experience with 1M ultra-long context memory.

DeepSeek-V4 has a million-word super long context, leading in Agent ability, world knowledge, and reasoning performance in both domestic and open source fields.

AI competition accelerates! OpenAI releases GPT-5.5 "smartest ever", Anthropic simultaneously promotes Mythos to the UK industry.

OpenAI has released GPT-5.5; meanwhile, British banks and businesses are seeking to adopt Anthropic's Mythos.

"Integrating computing and electricity" is becoming a new rule for AI infrastructure: SoftBank plans to build its own battery production capacity to complete the energy foundation closed loop.

Softbank is preparing to produce batteries for artificial intelligence data centers.

The Zhuque-3A remote-sensing satellite is undergoing final preparations before leaving the factory.

Zhuque-3 Y2 rocket is undergoing pre-launch preparations, and will once again challenge sub-orbital recovery and reuse.

The first batch of services for the third stage of Hong Kong's "Single Trade Window" will be launched on May 1st.

The first batch of services for the third phase of the Hong Kong Trade Single Window will officially launch on May 1st, replacing the "Road Cargo Information System" for the industry to submit and bundle road pre-arrival cargo information. User data from the "Road Cargo Information System" will be automatically transferred to the "Single Window" system, and users only need to log in with their original account to seamlessly use the "Single Window" service without the need for re-registration. The "Road Cargo Information System" will stop services from midnight on May 1st to switch systems, and the "Single Window" system is expected to be launched early in the same day. During the system switch, land border control stations will maintain normal cargo clearance services. Hong Kong Customs reminds the industry to plan in advance to submit road pre-arrival cargo information and complete related bundling arrangements to ensure smooth cross-border transportation during the system switch. Hong Kong Customs will continue to maintain close contact with the industry to assist with the smooth transition to the third phase of the "Single Window" service.

Stalemate in US-Iran negotiations: Oil prices rise for the fifth consecutive time, and Brent crude briefly surpasses $107, reaching a ten-day high.

Geopolitical risks have sharply risen, driving international oil prices higher for the fifth trading day in a row, with the dollar also hitting a 10-day high.

Performance Crushes Expectations, CPU Strategic Value Validated! Under the leadership of Chen Liwu, Intel Corporation (INTC.US) has embarked on a transformation from "survival" to "expansion".

Intel released first quarter results and second quarter guidance that far exceeded market expectations, indicating that the long-struggling chip maker is benefiting from the massive wave of artificial intelligence (AI) deployments.

The Nikkei 225 index opened at 59407.44 points in the morning, up 0.45%.

Tianxing Medical (01609) is now opening for IPO, with an offer price of 98.5 Hong Kong dollars per share. Institutional investors will subscribe for 37 million US dollars worth of shares.

Tianxing Medical (01609) will be listed for public offering from April 24th to April 29th, 2026. The company plans to globally issue 8.42185 million H shares, with 10% of the shares being offered in Hong Kong and the remaining 90% in the international market. The issue price per share is HK$98.50 and each lot consists of 50 shares. The trading of the shares is expected to begin at 9:00 am on May 5th, 2026 (Tuesday) on the Hong Kong Stock Exchange.

The probability of the Federal Reserve keeping interest rates unchanged in April is 99%.

According to CME's "FedWatch": The probability of the Federal Reserve raising rates by 25 basis points in April is 1%, while the probability of keeping rates unchanged is 99%. The probability of the Federal Reserve cutting rates by a cumulative 25 basis points by June is 2.6%, the probability of keeping rates unchanged is 96.4%, and the probability of raising rates by a cumulative 25 basis points is 1%.

"Big Short" Michael Burry: Establishing positions to go long on Microsoft.

The Federal Reserve is pushing Wall Street to support new capital regulations, but large banks are still seeking more exemptions.

Despite senior officials at the Federal Reserve showing clear support for new regulations and reducing public pressure on Wall Street, large banks continue to push for further relaxation of capital requirements.

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Reuters survey: The average price of platinum is expected to be $2067 per ounce in 2026, down from the previous survey of $2400 per ounce.

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Haida Group: Net profit in the first quarter was 887 million yuan, a year-on-year decrease of 30.82%.

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Reuters survey: It is expected that the average price of platinum in 2026 will be $2067 per ounce, lower than the previous survey's expectation of $2400 per ounce.

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Reuters survey: The average prices of platinum and palladium are expected to be $2200 per ounce and $1525 per ounce, respectively, in 2027.

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German Chancellor: Some areas of the Strait of Hormuz have been laid with mines.

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