GMT EIGHT - OPPORTUNITIES IN CHINA

NIO Inc. Sponsored ADR Class A (NIO.US) CFO Qu Yu: Services and community-related business enter a new stage, hopes to maintain gross profit level around 20% this year.

Weilai's CFO Qu Yu stated that the gross profit margin of the company's services and community related businesses has exceeded 20% in the first quarter of this year.

US Stock Market Move | Reached an agreement with Bloom Energy to provide AI infrastructure power supply, NEBIUS (NBIS.US) soared by over 17% in early trading.

On Thursday, NEBIUS (NBIS.US) soared over 17% in the morning session, accumulating a 170% increase so far this year, currently trading at $226.57.

The May PMI in the United States shows economic growth slowing down, with inflation pressure rising to the highest level since 2022.

The latest released US May S&P Global PMI preliminary data shows that amid rising energy costs and supply chain pressures due to the conflict in the Middle East, economic growth in the US continues to slow, while business costs and inflation pressures are clearly heating up.

US Stock Market Move | Arm Holdings (ARM.US) soared nearly 10% in early trading, surpassing a market value of over $300 billion for the first time.

On Thursday, Arm Holdings (ARM.US) surged nearly 10% in early trading, reaching a historic high and pushing its market value above $300 billion for the first time.

US Stock Market Move | Q2 guidance falls short of expectations, Walmart Inc. (WMT.US) drops over 6.5%

As of the time of publication, the stock has fallen more than 6.5%, reporting $122.3 USD.

US Stock Market Move | Collective outbreak of quantum computing concept stocks as Infeqtion (INFQ.US) surges over 40%

On Thursday, quantum computing concept stocks collectively surged.

In May, the preliminary value of the S&P Global Manufacturing PMI in the United States was 55.3, exceeding expectations of 53.8 and up from the previous value of 54.5. The preliminary value of the S&P Global Services PMI in the United States in May was 50.9, slightly below expectations of 51.1 and down from the previous value of 51.

US Stock Market Move | Q3 revenue growth rate reached the slowest pace in two years. Intuit Inc. (INTU.US) opened with a sharp drop of over 19%.

On Thursday, Intuit (INTU.US) opened with a sharp drop of over 19%, marking the largest decrease since March 2003. It is now trading at $310.15.

New stock news | Silicon-based intelligent secondary listing on HKEX

According to the announcement by the Hong Kong Stock Exchange on May 21, Nanjing Silicon Intelligent Technology Group Co., Ltd. (referred to as Silicon Intelligent) has submitted its second listing application to the main board of the Hong Kong Stock Exchange, with CMB International and DBS Group serving as joint sponsors.

Brent crude oil breaks through $109 per barrel, up 3.80% on the day.

WTI crude oil rose 4% intraday and is now trading at $102.19 per barrel.

US stock market opening: Three major indices all down

The Dow Jones fell by 0.29%, the S&P 500 Index fell by 0.39%, and the Nasdaq fell by 0.54%. In terms of individual stocks, Zoom Video Communications fell by 19.10%, Atlassian fell by 4.16%, Walmart fell by 4.16%, and DocuSign fell by 3.99%. As for the "Big Tech" companies: Microsoft rose by 1.26%, Tesla rose by 1.15%, Apple fell by 0.25%, Meta Platforms fell by 0.84%, Amazon fell by 0.89%, Google fell by 0.95%, and Nvidia fell by 1.15%.

Rate cut expectations dealt another blow! The US labor market continued to show strength, with initial jobless claims falling slightly to 209,000.

In the week ending on May 16th, the number of initial jobless claims in the United States decreased by 3,000 people to 209,000 people.

Almost liquidation! Under the shadow of the Iran war, Turkey threw out more than one billion dollars in March to defend the lira.

According to calculations based on data from the US Department of Treasury by relevant agencies, Turkey almost sold all of its US Treasury bonds in March, as Iran war broke out in the same month. This move was made as Turkey increased efforts to support its domestic currency.

Head-on confrontation with SpaceX! OpenAI was exposed to have submitted an IPO application this week. Deutsche Bank expects to raise $60 billion and be valued at over $1 trillion.

The latest report from the research department of Deutsche Bank pointed out that the developer of ChatGPT could potentially submit an IPO application in the coming days or weeks, with a target fundraising of around $60 billion and a corresponding valuation exceeding $1 trillion.

Microsoft Corporation (MSFT.US) joining forces with Ernst & Young to invest 1 billion dollars to tackle the difficult issue of implementing enterprise AI for the next five years.

Microsoft (MSFT.US) and consulting firm Ernst & Young (EY) will invest over $1 billion in a new initiative aimed at accelerating the adoption of artificial intelligence in businesses and organizations over the next five years.

Fuel costs "eating up" 250 basis points of profit! Walmart Inc. (WMT.US) performance guidance falls short of expectations, warning that raising prices on goods may be inevitable.

Global retail giant Walmart issued a warning in its latest quarterly financial report that rising fuel costs are squeezing company profits and may further push up prices for consumer goods.

285 billion dollars - this is the "Space AI Empire" super blueprint that SpaceX is presenting to Wall Street.

SpaceX believes that its total potential market size could rival the size of the US economy.

A-share announcement selection | 16 times the cattle stock Da Pure Micro (301666.SZ) suspension check completed, the stock resumed trading.

Dapu Micro announced that the suspension of stock trading for inspection has been completed, and trading will resume on May 22, 2026.

Agricultural machinery giant Deer Corporation (DE.US) reported higher-than-expected Q2 profits: demand for construction machinery surging by 29%, while weak demand for agricultural machinery dragged down the full-year forecast.

The financial report shows that Dill's revenue in the second quarter reached 13.37 billion US dollars, a year-on-year increase of 4.8%, exceeding expectations by 1.87 billion US dollars; earnings per share were 6.55 US dollars, exceeding expectations by 0.81 US dollars.

Preview of US Stock Market | The three major stock index futures fell together, negotiations between the US and Iran were deadlocked, and SpaceX submitted its IPO filing to sprint towards Nasdaq.

Before the market opened on May 21st (Thursday), the futures of the three major US stock indexes all fell.

Trump's "art of the deal" strikes again! The US government is investing $20 billion in quantum computing, acquiring stakes in quantum leaders such as IBM and Google.

The Trump administration is providing a total of $2 billion in funding to nine quantum computing companies, with the deals including the US government holding equity in these companies.

Some financial products have reduced their rates to 0%, ushering in a large-scale wave of fee reductions for financial products.

On May 20th, multiple wealth management companies including CMB Wealth Management, ABC Wealth Management, and BOC Wealth Management announced a reduction in the fees of their wealth management products. According to statistics, since May, over 800 adjustment announcements have been made by wealth management companies, mainly covering sales service fees and investment management fees of wealth management products. After the adjustments, the fees of some wealth management products have even been reduced to 0%. Industry experts point out that this wave of fee reductions is a business adjustment strategy for wealth management companies in response to declining interest rates and weakening bond market yields, mainly aimed at stabilizing the scale of wealth management product inventory and attracting maturing bank deposits into the wealth management market. Industry experts remind that low fees do not equal low risk, and multiple factors should be considered when purchasing wealth management products.

Hong Kong Property: As of this month, there have been 3,353 second-hand residential properties registered in Hong Kong, an increase of 17% compared to the same period last month.

According to data from the Hong Kong Property Research Department and the Land Registry, a total of 3,353 registrations of second-hand residential properties (including private and public housing) have been recorded so far this month (up to May 20), representing an increase of approximately 17.2% compared to the 2,861 registrations during the same period in April.

Global M&A "Looking East"! JP Morgan Investment Bank Chairman: From biomedicine to cutting-edge technology, capital is reevaluating the innovative value of China.

Anu Aiyengar, Global Head of Investment Banking at J.P. Morgan, stated in an interview that as economic and geopolitical risks continue to escalate, global companies are increasingly eager to collaborate with innovative companies in China to drive a continued rise in the M&A deal frenzy.

The Trump administration plans to promote a multi-billion dollar artificial intelligence export financing program to consolidate the global dominance of American AI.

The Trump administration plans to launch a new program on Thursday, using billions of dollars in export financing to attract foreign companies to purchase AI tools from the United States.

Brent crude oil breaks through $107 per barrel, up 1.89% in a day.

"AI burning money" narrative is in a big retreat! As long as the "circular AI prosperity" can continue, the logic of the bull market in US stocks is impeccable.

AI Prosperity Globalization in Cycle! The Asian computing power chain is earning huge cash, or may reverse-fund American Hyperscalers to build AI super empires. The thriving artificial intelligence industry has brought unprecedented cash flow to Asian computing hardware manufacturers, some of which are flowing back into dollar assets, indirectly supporting the financial environment conducive to capital expenditure by large tech companies - namely, the low borrowing cost environment that Trump has been eager for.

New stock news | Bethel Automotive Safety Systems (603596.SH) has filed to the Hong Kong Stock Exchange as the double champion of Chinese brands in EPB and electronic control brake systems.

According to the disclosure made by the Hong Kong Stock Exchange on May 21, Wuhu Berteli Automotive Safety System Co., Ltd. (referred to as: Berteli) (603596.SH) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited as the exclusive sponsor.

In the first quarter, the core business of NTES-S(09999) led with double growth in revenue and net profit. Net profit attributable to the parent company increased by 3.62% year-on-year to 10.7 billion yuan.

NetEase-S (09999) announced its financial results for the first quarter of 2026, with net income of 30.6 billion yuan (4.4 billion US dollars), an increase of 6.1% year-on-year. Gross profit was 21.2 billion yuan (3.1 billion US dollars), an increase of 14.8% year-on-year. Net profit attributable to the company's shareholders was 10.7 billion yuan (1.5 billion US dollars), a year-on-year increase of 3.62%; basic earnings per share were 3.34 yuan, with a quarterly dividend of $0.144 per share.

Northbound funds | Northbound trading saw a net sell-out of 6.105 billion yuan, prompting a nearly 85% cliff-style plunge in Geo Energy Resources Limited (02477). Northbound investors seized the opportunity to buy over 1.2 billion Hong Kong dollars on dips.

On May 21, the Hong Kong stock market saw a net selling of 6.105 billion Hong Kong dollars by Northbound investors. Among them, the Shanghai-Hong Kong Stock Connect recorded a net selling of 1.26 billion Hong Kong dollars, while the Shenzhen-Hong Kong Stock Connect recorded a net selling of 4.845 billion Hong Kong dollars.

Southbound funds saw a significant net sell-off of 6.105 billion yuan today. For the Shanghai-Hong Kong Stock Connect, Yingfu Fund and Alibaba W were net sold off 1.705 billion Hong Kong dollars and 1.231 billion Hong Kong dollars respectively; China National Offshore Oil Corporation had the highest net inflow of 1.012 billion Hong Kong dollars; For the Shenzhen-Hong Kong Stock Connect, Yingfu Fund and China National Offshore Oil Corporation were net sold off 770 million Hong Kong dollars and 587 million Hong Kong dollars respectively; Semiconductor Manufacturing International Corporation had the highest net inflow of 881 million Hong Kong dollars.

Sample of long-termism in the tide of the times: Yadea (01585) has been listed for ten years, leading the global two-wheeled travel.

Yadea Group went public ten years ago, achieving a significant value transition from being the first listed company in the industry to becoming the global leader in electric two-wheeled vehicles.

TACO, FAFO, FOMO... These secret codes invented by retail investors are becoming a trading strategy in the Trump 2.0 era.

The repeated policies of Trump's second term and the escalating conflict with Iran are giving rise to a new trading logic dominated by individual investors.

From rocket manufacturer to AI computing power ambition: Musk locks in absolute control over SpaceX, aiming to create a "space AI beast."

The prospectus disclosed Musk's absolute control over SpaceX. This IPO is expected to become the first in the United States with a valuation exceeding $1 trillion, and will immediately make SpaceX one of the most valuable publicly traded companies in the world.

New stock news | Bethel Automotive Safety Systems (603596.SH) submits listing application to the Hong Kong Stock Exchange

According to the disclosure on May 21st by the Hong Kong Stock Exchange, Wuhu Bortay Automotive Safety System Co., Ltd. (abbreviated as Bortay) submitted its listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited as the exclusive sponsor.

AI computing power chain stepping into the 2nm era! AMD fires the first shot of 2nm data center CPU, Wall Street sees the rising tide even more surging.

As AMD fires the first shot in the 2nm advanced process node level data center CPU battle, the launch of heavily anticipated tools like Anthropic's Claude Cowork and OpenClaw, which are super AI agents capable of autonomously performing tasks, has sparked a major explosion in 2026, pushing data center CPUs into a severe supply crunch.

Hong Kong Census and Statistics Department: Overall consumer prices in Hong Kong rose by 1.7% year-on-year in April, with overall inflation remaining moderate.

On May 21st, the Hong Kong government's Census and Statistics Department released the Consumer Price Index for the month of April 2026.

JLL: Grade A office vacancy rate in Central District fell in April, while rents increased by 2.1%.

In April, the vacancy rate of Grade A office buildings in Central increased by 0.4 percentage points to 9.2%, the only market with an improvement in vacancy rate among all office districts.

The situation in Iran reshapes expectations, with the consensus on Wall Street that the price of oil will rise to $100 per barrel! However, the tug of war between "demand destruction" and "low inventory levels" creates uncertainty about reaching a ceiling.

The crisis in the Strait of Hormuz, which has been ongoing for nearly three months, is profoundly reshaping the global oil market landscape.

Betting on the transition of energy and the AI wave, European copper industry giants accelerate the expansion of their global business footprint.

The European Union's largest copper producer, Polish Copper Company, plans to expand its overseas business territory.

Hong Kong International Airport: Aviation traffic volume steadily increasing in April, with passenger traffic up by 9.4% year-on-year.

Statistics from Hong Kong International Airport show that in April, the airport received a total of 5.67 million passengers, with a total of 34,445 flight takeoffs and landings, representing a year-on-year increase of 9.4% and 5.5% respectively. The cargo volume also increased by 4.9% year-on-year to 423,000 metric tons.

A-share market review | Three major "culprits" work together to push down the market, A-shares fall sharply on high volume! All three major indexes closed down more than 2%

On May 21st, the market rose throughout the day, but then fell back, with all three major A-share indexes dropping over 2%.

Airbnb, Inc. Class A (ABNB.US) aims to become the "Amazon.com of the travel industry": launching hotels, car rentals, and grocery delivery services online to create an integrated super app.

Airbnb (ABNB.US) announced on Wednesday that it will be adding thousands of boutique and independent hotels, car rentals, grocery delivery, airport transfers, and luggage storage services to its app, signaling a significant expansion of its business.

Ministry of Commerce: If the European side insists on adopting discriminatory restrictions against Chinese companies or products, China will resolutely counteract.

A journalist asked about recent reports that the European Commission is urgently developing a new trade tool to address China's "excess capacity" issue. What is China's comment on this? Ministry of Commerce spokesperson, Hua Yudong, said that if "excess capacity" labels are placed simply due to the trade surplus, then does the EU's exports of cars, medicines, wines, and cosmetics all have "excess capacity"? We have noticed that some countries are investigating the EU's "excess capacity" issue, and the EU should not adopt double standards in this situation. We urge the European side to face reality, return to the correct path of dialogue and consultation, and do things that are truly beneficial to the development of China-EU economic and trade relations. If the EU insists on pushing forward with the so-called new tool and implementing discriminatory restrictions on Chinese companies or products, China will resolutely retaliate.

National Development and Reform Commission: Starting from 24:00 on May 21st, the domestic prices of gasoline and diesel will be increased by 75 yuan and 70 yuan per ton respectively.

On May 21, the National Development and Reform Commission announced that starting from 24:00 on May 21, the domestic prices of gasoline and diesel (standard products) will be increased by 75 yuan and 70 yuan per ton, respectively.

OpenAI and Anthropic face valuation test on the eve of going public: The rise of "affordable AI", the trillion-dollar myth encounters resistance from "Chinese substitution"

Cheap AI models may hinder the IPOs of OpenAI and Anthropic.

Debt market storm warning continues! JP Morgan CEO Jamie Dimon: interest rates may rise sharply.

Damon warned that interest rates may rise significantly from their current levels.

After the UAE's withdrawal, construction of the "energy lifeline" is underway! The new oil pipeline bypassing the Strait of Hormuz is almost 50% complete.

The CEO of ADNOC, the national oil company of Abu Dhabi, stated on Wednesday that the UAE has completed nearly 50% of the construction of the second oil pipeline bypassing the Strait of Hormuz.

The financial reports of the encryption industry release a signal: Farewell to the era driven by hype, diversification seeks a way to survive.

For years, encryption companies relied on market volatility for profits. Now, they are trying to find ways to survive in a cooling environment of volatility.

Latest

3 m ago

The winning bid rate for the U.S. 4-week Treasury auction until May 21 was 3.61%, unchanged from the previous auction. The percentage of accepted bids at the auction was 62.57%, up from 25.82% in the previous auction. The bid-to-cover ratio for the auction was 2.6, slightly lower than the previous ratio of 2.66.

4 m ago

The German DAX 30 index closed down 0.21% at 24,684.86 points. The French stock index closed down 0.03%, while the Italian stock index closed up 0.10%. The banking index dropped 1.27%, and the UK stock index closed up 0.27% preliminarily.

5 m ago

Cryptocurrency trading platform Blockchain.com secretly submitted an IPO application.

6 m ago

Spotify executives: Spotify will allow users to create personalized podcasts directly within the app through prompt-based technology.

7 m ago

Zhongxian Intelligent Qijia Holdings (08395): Intends to acquire all shares of Diishi Technology Investment and resume trading on May 22nd.

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