GMT EIGHT - OPPORTUNITIES IN CHINA

OPEC+ representatives confirmed an increase in daily production of 206,000 barrels in April.

Tesla: The price of the Cybertruck dual motor all-wheel drive version has been increased to $69,990.

"Iranian hot war" pushes up gold prices, will the gold sector see more waves?

As the saying goes, "when the guns roar, gold is worth ten thousand pieces." The United States suddenly attacked Iran, reigniting the flames of war in the Middle East. As a result, according to Gold Tianyan data, the international price of gold briefly exceeded 1230 yuan per gram, with an increase of over 4%, coming close to a new high of less than 30 yuan. However, it quickly fell back down, erasing the gains.

"Gold prices plunge in the dark market"

Why did the gold price drop after the US-Israeli attack on Iran on February 28th local time? The US-Israel attack on Iran triggered global risk aversion. Market analysis believes that the prices of gold and other precious metals will experience a significant increase. However, it is worth noting that after experiencing an increase on February 28th, the price of gold plummeted on March 1st. Pan Helin, an economist and a member of the Expert Committee on Information and Communication Economy of the Ministry of Industry and Information Technology, stated that the death of Iranian Supreme Leader Ayatollah Khamenei has changed short-term market expectations, believing that the situation in Iran may stabilize quickly. If it can be further confirmed that Iran can smoothly transition its political power after Khamenei's death, then the capital market may expect a complete reversal, with the prices of gold and oil falling and especially the US stock market, particularly industrial stocks, rising. However, wars are unpredictable, and Khamenei's death may further plunge Iran into chaos.

Deliver in February to Safeguard the Basic Positions, Ideal Growth and Profit Test in Overweighted AI (02015)

Ideal Car (02015) announces delivery data for February 2026.

By 2026, the detailed rules for the "national subsidy" for cars have been implemented nationwide.

At the beginning of the year of the Horse, many provinces have issued detailed rules to support the policy of trading in old cars for new ones. According to statistics, since February 10th, more than 5 provinces including Hunan, Qinghai, Henan, Fujian, Jiangxi have successively introduced detailed rules for trading in old cars for new ones. Currently, all provinces in mainland China have announced the detailed rules for the 2026 automobile "national subsidy". In general, the subsidy rules announced by each province are similar. The policy implementation period starts from January 1, 2026 and lasts until December 31, 2026. The subsidy projects are divided into scrappage and replacement. The scrappage subsidy standard is as follows: for scrapping eligible old cars and purchasing new energy passenger cars, a subsidy of 12% of the new car's sales price will be given, with a maximum subsidy of 20,000 yuan; for scrapping eligible fuel passenger cars and purchasing fuel passenger cars with a displacement of 2.0 liters and below, a subsidy of 10% of the new car's sales price will be given, with a maximum subsidy of 15,000 yuan. The replacement subsidy standard is as follows: for purchasing eligible new energy passenger cars, a subsidy of 8% of the new car's sales price will be given, with a maximum subsidy of 15,000 yuan. For purchasing eligible fuel passenger cars, a subsidy of 6% of the new car's sales price will be given, with a maximum subsidy of 13,000 yuan.

Japanese Foreign Minister Toshimitsu Motegi participated in a G7 foreign ministers' conference call to exchange information on the situation in Iran.

Japanese Foreign Minister Toshimitsu Motegi participated in the G7 foreign ministers' teleconference, sharing information and exchanging views with other countries. The Japanese Ministry of Foreign Affairs announced this on the 1st. During the meeting, the US side outlined the latest developments and future prospects. Motegi reiterated Japan's position that the development of nuclear weapons by Iran is unacceptable and that Japan consistently supports US efforts to resolve the issue through dialogue. He also stated that Japan will continue to cooperate with the international community and conduct diplomatic efforts.

Lei Jun: Xiaomi Vision GT will be released tomorrow.

Lei Jun wrote that tomorrow, the actual car of Xiaomi VisionGT will be unveiled at the Mobile World Congress in Barcelona, Spain.

New stock news | Shanghai Pigeon submits documents to Hong Kong Stock Exchange for the third time

According to the disclosure by the Hong Kong Stock Exchange on February 27, Huge Dental Limited (hereinafter referred to as "Shanghai Pigeon") has submitted an application to the Hong Kong Stock Exchange Main Board, with China International Capital Corporation and DBS serving as joint sponsors.

Zhuyuan Tungsten Industry: Adjusting the prices of hard alloy products starting from March 1st.

Zhangyuan Tungsten Industry has issued a notice regarding the adjustment of prices for hard alloy products, due to the continuous increase in the price of tungsten raw materials, resulting in a substantial increase in production costs for the company. The company has decided to implement new prices for hard alloy products starting from March 1, 2026. From the date of price adjustment, all products will be executed at the new prices.

In February, Xiaomi's car delivery volume exceeded 20,000 units, and the new SU7 will be mass-produced.

In February 2026, Xiaomi's car delivery volume exceeded 20,000 units. At the same time, we are preparing for large-scale production of the new generation SU7.

Middle East situation heats up: gold and oil may rise together, resources may become this year's "sharpest spear".

Guolian Minsheng Securities released a research report stating that the sudden escalation of the situation in the Middle East directly impacts global risk appetite. In the short term, the market may present a typical safe-haven pattern of "rising gold and oil prices, pressure on risk assets."

Industrial: Middle East risks have substantially materialized. Keep an eye on US Treasuries, precious metals, and the foreign exchange market.

Guosen Securities stated in a publication that following the Venezuela incident earlier this year, on February 28th, the United States and Israel took military action against Iran in the Middle East, marking the substantial realization of the second "black swan" event - Middle East risk.

Ke Rui Real Estate Research: Typical real estate companies achieved a sales turnover of 123.42 billion yuan in February.

CRIC real estate research released a report stating that in February 2026, affected by the Spring Festival holiday, the overall transaction volume in the new housing market of the top 50 key cities in the country remained relatively sluggish.

Zhang Yidong's latest sharing: The influence of the "Korean Wave" on the Hong Kong stock market has reached the later stage, the AI wave is still not over but internal differentiation is intensifying...

The diversion of capital from the Hong Kong stock market to markets in Japan, South Korea, and Taiwan may have already reached its late stage.

Our country's first national humanoid Siasun Robot & Automation and embodied intelligence standard system have been released.

Today (February 28), the Humanoid Robot and Embodied Intelligence Standardization (HEIS) Annual Conference is being held in Beijing.

Market recovery signal? Lithium industry giant Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B (SQM.US): Global demand expected to increase by 25% this year.

One of the world's largest lithium producers, Chilean mining and chemical company, stated that after the industry gradually emerged from global oversupply, global demand for lithium, a battery metal, is expected to increase by around 25% this year.

Standard & Poor's issues a rating warning for Paramount Skydance (PSKY.US)! Sky-high acquisition prices could lead to debt pressure and a possible surge in leverage ratios.

Analysts at Standard & Poor's Global Ratings have stated that the proposed $11.1 billion acquisition of Warner Bros. Discovery by Paramount Skydance will put pressure on its credit rating, even though the merged company may ultimately reduce its debt levels over time.

NVIDIA plans to launch a new chip, and OpenAI is a major customer.

NVIDIA plans to release a new processor tailored specifically for OpenAI and other customers, helping to create faster and more efficient tools. This is a significant adjustment to its business and may redefine the AI competition landscape. According to sources familiar with the matter, the company is designing a new system for AI inference computing - this type of computing is responsible for making AI models respond to user requests. This new platform will be officially unveiled at the NVIDIA GTC developer conference in San Jose next month, integrating chips designed by the startup Groq. Some sources say that OpenAI has agreed to become one of the largest customers for this new processor, which is a major victory for NVIDIA. The ChatGPT developer is already a core customer of NVIDIA and has been looking for more efficient alternatives to NVIDIA chips for the past few months, signing a contract with a chip startup company last month to add supply options.

National Bureau of Statistics: By 2025, the total financing of A-shares on the Shanghai and Shenzhen stock exchanges reached 1.2583 trillion yuan, an increase of 833.2 billion yuan from the previous year.

The National Bureau of Statistics of China has released the "National Economic and Social Development Statistical Bulletin of the People's Republic of China 2025". Throughout the year, the total fundraising of A-shares on the Shanghai and Shenzhen Stock Exchanges reached 1.2583 trillion yuan, an increase of 833.2 billion yuan compared to the previous year. There were 90 companies listed for the first time on the Shanghai and Shenzhen Stock Exchanges, raising 124.2 billion yuan, an increase of 62 billion yuan compared to the previous year, including 19 companies listed on the Science and Technology Innovation Board raising 38.1 billion yuan. A total of 1.1341 trillion yuan was raised through refinancing of A-shares on the Shanghai and Shenzhen Stock Exchanges, an increase of 771.2 billion yuan. The Beijing Stock Exchange publicly issued shares for 26 companies, raising 7.6 billion yuan, with an additional 400 million yuan raised through refinancing. Throughout the year, various entities raised a total of 16.3 trillion yuan through bond issuance on the Shanghai and Shenzhen Stock Exchanges. A total of 20 real estate investment trusts in the infrastructure sector were listed on the Shanghai and Shenzhen Stock Exchanges, raising a total of 40.2 billion yuan. At the end of the year, there were 5960 companies listed on the national small and medium-sized enterprises share transfer system, with a total fundraising of 7.4 billion yuan for the year.

UBS downgrades US stocks, warns of triple pressure from the US dollar, valuations, and Trump policies.

UBS global equity strategist Andrew Garthwaite led the strategy team released a report on Friday the 27th, downgrading the allocation rating of US stocks in a 100% equity portfolio to "benchmark," meaning neutral allocation, while maintaining an overweight rating on emerging market stocks.

Amazon.com, Inc. (AMZN.US) launches an AI cost revolution! Self-developed AI ASIC accelerates large model training, challenging NVIDIA Corporation's computing monopoly.

AI ASIC will continue to weaken Nvidia's monopoly premium and market share in the medium to long term, rather than linearly replacing the GPU system.

Spot silver rose 5% intraday, now trading at $92.55 per ounce.

Spot gold breaks through $5230 per ounce, rising 0.91% intraday.

Spot silver breaks through $91 per ounce, up 3.28% intraday.

Anchoring the trillion-dollar overseas market, Titanium Technology accelerates towards becoming the "first share" of Multi-Agent driven by AI.

On February 27th, China's leading AI marketing technology company, Titanium Technology, officially submitted its application to the Hong Kong Stock Exchange, aiming to become the first stock in the "Multi-Agent" sector.

National News Publication Administration: A total of 6 imported online games were approved in February.

The 2026 approval information for imported online games released by the State Administration of Press and Publication shows that a total of 6 games were approved in February.

WTI crude oil rose 2% intraday, now trading at $66.52 per barrel.

Southbound funds purchased a net of HKD 14.997 billion today.

Regarding the Shanghai Stock Connect, Ying Fu Fund and Hang Seng China Enterprises respectively received net purchases of 6.777 billion Hong Kong dollars and 1.816 billion Hong Kong dollars; Chang Fei Fiber Optic Cable had the highest net selling amount, at 447 million Hong Kong dollars; as for the Shenzhen Stock Connect, South Hengsheng Technology and Ying Fu Fund received net purchases of 2.039 billion Hong Kong dollars and 1.608 billion Hong Kong dollars respectively; Huahong Semiconductor had the highest net selling amount, at 272 million Hong Kong dollars.

The weakened yen touches the nerves of the government! Japanese Finance Minister sends a strong signal: closely monitoring the foreign exchange market and will communicate closely with the United States.

Japanese Finance Minister Kobayashi Kozuki stated on Friday that the government is maintaining a high level of vigilance towards exchange rate fluctuations. He revealed to the parliament that with a sense of urgency, they are closely monitoring the recent depreciation trend of the yen.

HK Stock Market Move | Coal stocks collectively rise, overseas coal price advantage disappears, import constraints expected to support domestic coal prices.

Coal stocks collectively rose, as of the time of publication, China Qinfa (00866) rose by 7.51% to 3.72 Hong Kong dollars; China Coal Energy (01898) rose by 6.08% to 12.91 Hong Kong dollars; Yanzhou Coal Mining Australia (03668) rose by 4.46% to 33.28 Hong Kong dollars; Yanzhou Coal Mining (01171) rose by 3.94% to 13.98 Hong Kong dollars.

Musk announced that Tesla will build a factory on the moon within 20 years, encouraging investors to continue holding their shares.

Elon Musk recently stated in an interview with Tesla Gigafactory Berlin manager Andr Thrig that "20 years from now, I dare say Tesla will build a factory on the moon," and that he sees a "prosperous" and "extremely bright future" for Tesla. Musk also mentioned in the interview: "I suggest everyone continue to hold on to Tesla's stock, as its value will increase significantly."

HK Stock Market Move | Concept stocks of CXOs leading the rise, Wuxi XDC (02268) up more than 8%, Wuxi Bio (02269) up more than 4%.

Concept stocks of CXO rose at the forefront, with WuXi Biologics (02268) up 7.97% at 63 Hong Kong dollars; WuXi AppTec (02269) up 4.7% at 40.08 Hong Kong dollars; WuXi Vaccine (02359) up 2.28% at 19.7 Hong Kong dollars; and Kanglong Chemical (03759) up 2.28% at 19.7 Hong Kong dollars.

Goldman Sachs: It is expected that GALAXY ENT(00027) has sufficient financial capability to further increase dividends. The target price is lowered to 53.4 Hong Kong dollars.

Attention should be paid to the potential impact on gambling and tourism demand due to the upcoming National People's Congress and Chinese People's Political Consultative Conference from March 4th to 11th.

Major Move at the Beginning of the Year! Langjiu revokes its business unit and establishes "5 sales companies + 10 sales regions"

At the beginning of the Year of the Horse, Langjiu launched a new round of marketing system organizational structure adjustments: revoking the original Gulin Langjiu Sales Co., Ltd. and its divisions and departments. This is about a year after last year's attempt to operate under the "quasi-company system." On the evening of February 26, General Manager Wang Bowei of Langjiu Co., Ltd. announced the marketing system organizational structure adjustment plan and related personnel appointments. The marketing system will operate the Qinghua Lang, Honghua Lang, and Longma Lang brands, as well as the e-commerce KA channel, international business channel company operation + sales region overall coordination organizational operation model, that is, "5 sales companies + 10 sales regions," managed by Sichuan Langjiu Co., Ltd. This also means that the department system, which has been in operation for more than ten years and has helped Langjiu to grow from billions to billions of yuan, is undergoing profound changes.

Samsung Electronics (SSNLF.US) executives: The decision to launch the next generation of ultra-thin phones and three foldable phones has not yet been made.

Choi Won-jun revealed that the company is still evaluating whether to release another ultra-thin smartphone following the launch of the Galaxy S25 Edge last year. In addition, the company has also not committed to releasing the next generation of the TriFold three-fold smartphone.

South American Tin Industry acquired the Santa Barbara gold and copper mine in Ecuador and simultaneously initiated financing of 16 million Canadian dollars.

This project is located in the Zamora-Chinchipe Province in southeastern Ecuador, approximately 76 kilometers away from Zamora City. It is situated within the Zamora copper-gold mineralization zone, adjacent to several large producing or under-construction mines.

HK Stock Market Move | Many concept stocks related to AI surged, with Kingsoft Cloud (03896) once rising over 11% and Mobvista (01860) rising over 6%.

Most of the stocks related to AI are rising. As of the time of publication, Kingsoft Cloud (03896) is up 9.05% at 7.23 Hong Kong dollars; XMCT (03317) is up 8.82% at 89.45 Hong Kong dollars.

Breakthrough in chip manufacturing? ASML Holding NV ADR (ASML.US) has achieved a major breakthrough in next-generation EUV technology, now suitable for mass production, with costs doubled!

Global leader in lithography, ASML executives have stated that their next generation chip manufacturing equipment is ready and available for chip manufacturers to use for mass production.

Netflix (NFLX.US) withdraws from the bidding war! Paramount Sky (PSKY.US) makes a billion-dollar offensive, but Warner Brothers Discovery (WBD.US) is expected to emerge as the winner.

After Paramount Pictures raised the offer to acquire Warner Bros. Discovery, Netflix announced that it would give up its pursuit of acquiring Warner Bros. Discovery's film and television studio as well as HBO Max streaming service.

CICC: Maintains outperform rating on HKEX (00388), with a target price of 500 Hong Kong dollars.

The average size of the 4Q margin and settlement fund calculated by the line increased by 13% year-on-year and 5% month-on-month, with profits declining mainly due to a narrowing interest rate spread.

The United States will hold a crucial mineral industry event in Brazil.

The United States will host an important mining event in Brazil next month to deepen its relationship with the country. Brazil is one of the countries with the world's largest reserves of rare earths and various key metals, essential for modern technology and data centers. According to a preliminary agenda seen in the media, the U.S. Embassy in Brazil and the American Chamber of Commerce are assisting in organizing an event to be held in So Paulo on March 18, where U.S. government agencies will meet with executives of mining companies and rare earth enterprises operating in Brazil. Companies included in the agenda are Aclara Resources Inc., Meteoric Resources NL, Brazil Rare Earths, and Viridis Mining and Minerals Ltd. - all of whom have rare earth projects in Brazil. Brazil's only rare earth producer, Serra Verde Group, is also on the agenda, as well as the base metals sector of Vale. The U.S. Embassy in Brazil and the American Chamber of Commerce have both confirmed the event, and stated that a more detailed agenda will be announced later.

Debt Peak Meets AI Transformation: Bain Capital Warns of Possible Wave of Defaults in Software Industry

Bain Capital recently warned that as the disruptive impact of artificial intelligence (AI) technology continues to expand, coupled with the approaching peak in debt repayment, the software industry faces the risk of default rates on loans soaring into double digits.

It is reported that the new generation EUV lithography machine from ASML is now ready for mass production.

According to media reports, the Dutch lithography equipment manufacturer ASML's executives stated that the company's new generation extreme ultraviolet lithography machine is ready for use, and chip manufacturers can now begin using it for mass production. The unit price of this equipment is approximately 400 million US dollars, which is double the price of the first generation EUV machine. ASML's Chief Technology Officer, Marco Pieters, said that the equipment has processed about 500,000 silicon wafers so far, with very low downtime and pattern accuracy reaching production standards.

As the US dollar assets decline, global asset management shifts towards emerging markets. Inflows of funds may trigger a new round of market upswings.

Asset management companies with total global assets exceeding $20 trillion are becoming increasingly optimistic about emerging market stocks, currencies, local currency bonds, and credit, which could inject new momentum into this market's record-breaking rally.

NVIDIA Corporation's godson CoreWeave (CRWV.US) plunges 12% after hours! With a 670 billion order backlog, the heavy sword, but faces Q1 guidance "dark arrow"

In after-hours trading on Thursday, CoreWeave (CRWV.US) stock price plummeted 12% at one point. The cloud infrastructure supplier specializing in artificial intelligence announced fourth quarter revenue higher than Wall Street expectations, but it failed to boost the stock price.

After-hours surge of over 13%! Dell Technologies, Inc. Class C (DELL.US) AI server demand explodes, performance guidance far exceeds expectations and ignites the market.

Thanks to strong demand in the market for its artificial intelligence (AI) servers, Dell Technologies released financial outlook that far exceeded Wall Street's expectations, driving its stock price to surge more than 13% in after-hours trading.

A bracelet increases in price by over 20,000! CHOW TAI FOOK (01929), LAOPU GOLD (06181) and other jewelry brands are considering raising the prices of gold accessories.

With the soaring international gold prices, jewelry brands are starting to consider raising prices for their current fixed-price products.

Shenzhen Zhaowei Machinery & Electronics (02692) will be listed from February 27 to March 4, with an expected listing date of March 9.

Megawide Electrical (02692) will be holding its initial public offering from February 27, 2026 to March 4, 2026. The company plans to globally sell 26.7483 million H shares, with 10% of the shares being sold in Hong Kong and 90% internationally. The offer price per share is 73.68 Hong Kong dollars, with a minimum order of 100 shares per lot. It is expected that the H shares will begin trading on the Hong Kong Stock Exchange at 9:00 am on March 9, 2026 (Monday).

Overnight US stocks | Three major indexes rose and fell differently, with chip stocks generally falling. NVIDIA (NVDA.O) fell nearly 5.5% after its earnings report.

As of the close, the Dow Jones rose 17.05 points, an increase of 0.03%, to 49499.20 points; the Nasdaq fell 273.69 points, a decrease of 1.18%, to 22878.38 points; the S&P 500 Index fell 37.26 points, a decrease of 0.54%, to 6908.87 points.

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The New Zealand S&P/NZX 50 index opened 1% lower.

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The Australian internet regulatory agency stated that it may require search engines and app stores to block artificial intelligence services that do not comply with new age restriction regulations.

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Afghan border police spokesman said that clashes have erupted again on the border with Pakistan.

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Istanbul Stock Exchange: It has been decided to reduce the order-to-trade ratio of the stock market from 5:1 to 3:1 until further notice.

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The Qatar Ministry of Interior has banned the use of drones during periods of tense situation.

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