GMT EIGHT - OPPORTUNITIES IN CHINA

Today, southbound funds saw a significant net purchase of 14.523 billion yuan. In the Hong Kong Stock Connect (Shanghai) channel, Ying Fu Fund and Hang Seng China Enterprises respectively received a net purchase of 2.121 billion Hong Kong dollars and 1.636 billion Hong Kong dollars. Alibaba-W had the highest net selling amount of 1.05 billion Hong Kong dollars. In the Hong Kong Stock Connect (Shenzhen) channel, Ying Fu Fund and Hang Seng China Enterprises respectively received a net purchase of 2.016 billion Hong Kong dollars and 1.004 billion Hong Kong dollars. Tencent Holdings had the highest net selling amount of 857 million Hong Kong dollars.

The first domestically developed commercial spacecraft for satellite networking and in-orbit services has been launched.

In the future, the commercial aerospace company Future Space will launch the FX Fengxing series of space spacecraft, which is the first commercial spacecraft in the country that serves satellite networking launches and on-orbit services. The maiden flight test of the FX-1 Fengxing spacecraft is scheduled for the third quarter of 2026, using the Long March 1 rocket.

Northern Rare Earth: Net profit for the first quarter was 918 million yuan, an increase of 113.12% year-on-year.

Northern Rare Earth announced that the revenue for the first quarter of 2026 was 11.859 billion yuan, an increase of 27.69% year-on-year; the net profit was 918 million yuan, an increase of 113.12% year-on-year.

Recently, the national price of live pigs has stabilized and started to rise.

Since mid-April, the prices in the pig market have shown a trend of stabilization and rebound. According to the monitoring data of prices in 500 county-level marketplaces from the Ministry of Agriculture and Rural Affairs, in the fourth week of April, the national average price of pigs was 10.0 yuan per kilogram, an increase of 2.6% compared to the previous week, and a narrowing of the year-on-year decline by 1.3 percentage points. Wang Zuli, a researcher at the Institute of Agricultural Economics and Development of the Chinese Academy of Agricultural Sciences and a scientist in the National Pork Industry Technology System's Industry Economics post, stated that, according to monitoring by multiple market institutions, the national average price of pigs has increased by over 1 yuan per kilogram from the previous low point, and the extent of industry losses has somewhat decreased. Wang Zuli predicts that as the effect of capacity elimination gradually becomes apparent, pig prices are expected to stabilize and rise gradually in the later part of the year, showing a characteristic of "low in the beginning, high later, and narrow fluctuations" for the whole year.

IMMUNOTECH-B(06978) temporarily suspended trading in the afternoon of April 28, awaiting the publication of insider information.

Eternal Bio-B (06978) announced that, as requested by the company, trading of the company's shares on the Hong Kong Stock Exchange will be temporarily suspended from 1pm on Tuesday, April 28, 2026, pending the release of an announcement related to insider information about the company.

Strategist interprets the decision of the Bank of Japan on interest rates: "Hawkish pause" boosts the yen, increasing interest rate expectations may benefit bank stocks.

Strategists say that the Bank of Japan's "hawkish standstill" is boosting the yen.

The policy of exempting small passenger cars from tolls during the May Day holiday continues.

According to the Ministry of Transport, during this year's May Day holiday, small passenger cars with seven seats or less will continue to be exempt from tolls on expressways. The specific toll-free period is from 00:00 on May 1st to 24:00 on May 5th, a total of 5 days.

The Hang Seng Technology Index fell by more than 1%, now trading at 4890.210 points; the Hang Seng Index is currently down by 0.462%.

The Sci-Tech Innovation 50 Index has increased by 1%.

The Sci-tech Innovation 50 Index has increased to 1%, now at 1523.62 points.

The Shenzhen Component Index fell by 1.01%, now at 14844.873 points; the Shanghai Composite Index fell by 0.19%, now at 4078.488 points; the ChiNext Index fell by 1.57%, now at 3591.621 points.

Anthropic disrupts the software stock market and enters the trillion dollar club! Valuation skyrockets by 733%, Claude ignites the frenzy of AI intelligent bodies.

Anthropic's pre-IPO implied valuation recently surpassed $1 trillion in private market transactions, marking another extreme step in the artificial intelligence investment boom.

"Anchor of global asset pricing" to arouse another frenzy? Powell is about to take over the Fed. U.S. debt "steep trading" arrow is on the string.

Wall Street strategists say that the Federal Reserve led by Kevin Warsh may cause the US Treasury market to break out of its narrow trading range, urging investors to prepare for sharp volatility and a steepening of the yield curve.

Tracking the concept of Hong Kong stocks | The performance of the lithium battery industry chain has exploded! Institutions are optimistic about the continued improvement of supply and demand patterns (with conceptual stocks attached)

The institution predicts that the overall demand growth rate for lithium batteries will remain optimistic for the whole year, and the supply and demand situation of the industry chain is expected to continue to improve, with the possibility of a simultaneous increase in quantity and price in multiple aspects.

Market news: Contemporary Amperex Technology Ltd's Hong Kong stock placement is priced at HK $ 628.20 per share.

The three major US stock indexes are mixed.

The three major U.S. stock indexes rose and fell differently, with the Dow falling 0.12%, the Nasdaq rising 0.20%, and the S&P 500 rising 0.12%. Popular tech stocks had mixed performances, with SanDisk rising over 8%, Micron rising over 5%, Nvidia rising about 4%, Intel rising over 2%, Google rising over 1%, Meta, Microsoft, and Tesla closing slightly higher. AMD fell over 3%, Amazon, Apple, Netflix, and Broadcom fell over 1%, and Oracle closed slightly lower.

COSCO Shipping Energy Transportation (01138) achieved a net profit attributable to the parent company of 2.173 billion yuan in the first quarter, an increase of 206.74% year-on-year.

China COSCO Shipping Corporation Limited (01138) released its first quarter report for 2026, with the Group achieving operating income of 7.303 billion yuan, a year-on-year increase of 26.92%; net profit attributable to shareholders of the listed company was 2.173 billion yuan, a year-on-year increase of 206.74%; basic earnings per share were 0.3977 yuan.

In the first quarter, Tianqi Lithium Corporation (09696) reported a net profit attributable to equity shareholders of approximately 1.876 billion yuan, an increase of about 16.99 times year-on-year.

Tianqi Lithium (09696) announced that in the first quarter of 2026, the operating income was approximately 5.128 billion yuan, a year-on-year increase of 98.44%; the net profit attributable to the shareholders of the listed company was approximately 1.876 billion yuan, a year-on-year increase of about 16.99 times; basic earnings per share was 1.12 yuan.

CSPC PHARMA (01093): CSPC Pharma's first quarter net loss attributable to parent company was 93.85 million yuan, a year-on-year increase of 248.88%.

China Resources Double-Crane Pharmaceutical Co., Ltd. (01093) announced that its subsidiary, China Resources Double-Crane Innovative Pharmaceuticals Co., Ltd. (CR Double-Crane Innovative), achieved operating income of 665 million yuan in the first quarter of 2026, a year-on-year increase of 40.82%. The net loss attributable to the shareholders of the listed company was 93.8547 million yuan, a year-on-year increase of 248.88%. The basic loss per share was 0.0674 yuan.

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.

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Huayou Cobalt: Subsidiary Huafai Nickel-Cobalt has temporarily suspended production lines for maintenance, which is expected to have a certain negative impact on the company's recent operating performance.

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Moody's: Upgrades outlook of 8 Chinese banks to "Stable"

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Smart Technology: Net profit in the first quarter was 34.51 million yuan, a year-on-year increase of 163.18%.

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Former Chief of Staff to UK Prime Minister Johnson, Max Smith, said: "The Prime Minister relied on my advice on the Mandelson matter, and I made a wrong judgment."

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China General Nuclear Power Corporation: Net profit in the first quarter was 27.41 billion yuan, a decrease of 9.33% year-on-year.

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