Pre-market report on A-shares | Microsoft Corporation (MSFT.US) responds to lease data center, capital expenditures remain unchanged

Pre-market news 1. Wu Qing: Capital markets to increase efforts to nurture leading technology companies and chain-leading enterprises Type: Macro Sentiment Impact: Positive The Chairman of the Securities Regulatory Commission proposed in a document that the capital market should actively integrate into the new system of technological innovation, increase efforts to nurture leading technology companies and chain-leading enterprises; prioritize support for technology companies carrying out stock and debt financing for key core technology research and development, mergers, and reorganizations. 2. Microsoft responds to data center lease termination: Capital expenditures for this fiscal year remain unchanged, adjustments may be made Type: Industry Sentiment Impact: Negative Reports suggest that Microsoft has canceled leases for data centers with "hundreds of megawatts" capacity in the United States, causing a collective shock in the US stock market for AI-related stocks in terms of computing power and electricity. Microsoft responded urgently, stating that capital expenditures for this fiscal year remain unchanged, while acknowledging that adjustments may be made in certain areas of strategic pace or infrastructure. 3. Overnight Chinese concept stock index plunges over 5%, Alibaba drops 10%! Institutions discuss the crowdedness of the TMT sector Type: Market Sentiment Impact: Negative Overnight, Chinese concept stocks experienced adjustments, with the Nasdaq China Golden Dragon Index dropping over 5% and Alibaba dropping 10%. Analysts suggest this may be due to some short-term funds cashing in on profits. GF SEC stated that the current turnover ratio of the TMT sector is 44%, and it is possible that the current round of TMT turnover ratio peaks at 45%-50%. Tianfeng believes that the relative crowdedness of the current TMT sector is not high. 4. Sixteen departments jointly issue opinions: Strengthening technological innovation in the ecological environment sector to promote the construction of a beautiful China Type: Industry Sentiment Impact: Positive The Ministry of Ecology and Environment and other departments issued a document stating that by 2035, the overall efficiency of the innovation system in the ecological environment sector will be significantly improved, the comprehensive strength of national strategic science and technology will be enhanced, breakthroughs will be made in environmental protection theories and methods, and key technologies, and equipment levels such as environmental monitoring and simulation will be significantly improved. Investment Calendar Apple to hold its annual shareholders meeting today Investment Tips Investment Tips: The greatest enemy of investment is oneself, especially one's emotions. Greed, fear, and overconfidence can lead to erroneous decisions. Only by remaining calm and rational can one achieve long-term success. [""] Lynch's "Successful Investment by Peter Lynch" Editorial Opinion Editorial Opinion: The market saw a slight adjustment yesterday, with the ChiNext Index leading the decline, and there was a noticeable switch between high and low funds; China Securities Co., Ltd. stated that the main trend of the market continues to be AI, and post-correction is still an opportunity for repositioning and attack. Institutional Viewpoints 1. China Securities Co., Ltd.: The main trend of the market remains AI. If trading overheats leading to a correction, it is expected to be an opportunity for repositioning and attack. 2. Tianfeng: The relative crowdedness of the current TMT sector is not high, as this year's overall market sentiment is higher. 3. Orient: There is a strong demand for technology adjustments, but there are no apparent signs of a peak; adjustments are still opportunities for positioning. Good and Bad Prospects 1. Upgrade of the smart driving war! Reports suggest Tesla's "Full Self-Driving Feature" is set to land in China Type: Market Hot Topic Guotai Junan: The domestic high-level smart driving sector has rapidly expanded over the past two years. With Tesla's FSD entry into China, it is expected to replicate the "carp effect" of electric vehicles, promote the industrialization of the domestic smart driving industry, and drive the development of local smart driving complete vehicle manufacturers and supply chains. 2. Details of Apple's $500 billion investment in the US revealed: New AI server factory to be built in Houston Type: Market Hot Topic Western: With the rapid development of large AI models, the demand for computing power is rapidly increasing, and AI servers, as the core infrastructure for computing power, are expected to see rapid growth in shipments. The CAGR of AI server shipments from 2022 to 2026 is expected to reach 29%. 3. Three departments carry out pilot applications for the 2025 county-level electric vehicle charging and swapping facility short board Type: Policy Focus Orient: The domestic inventory of new energy vehicles is expected to continue to grow rapidly, combined with domestic policy stimulus, companies with deep layout in the domestic charging pile operation and manufacturing industry are expected to welcome greater flexibility. Focus on three directions of charging pile equipment, operation side, and supercharging industrial chain. Announcement News Slightly Positive Announcements 1. Hygon Information Technology: Net profit in 2024 was 1.929 billion yuan, a year-on-year increase of 52.73% 2. Montage Technology: Net profit in 2024 was 1.412 billion yuan, a year-on-year increase of 213.1% 3. Hithink RoyalFlush Information Network: Net profit in 2024 was 1.823 billion yuan, a year-on-year increase of 30%, proposing to distribute a dividend of 30 yuan for every 10 shares Slightly Negative Announcements 1. Great Microwave Technology: Net profit in 2024 decreased by 74.98% year-on-year 2. Shandong Yulong Gold: Huo Ai Technology's 3% stake in the company is set to be forcibly liquidated 3. Jilin Joinature Polymer: Shareholder Wang Xiuyun plans to reduce their shareholding by no more than 1% of the company's shares Overseas Markets Self-selected brother's tips: The S&P and Nasdaq have closed lower for the third consecutive trading day, with nearly all US tech giants seeing declines. Chinese concept stocks, which have seen a strong rally recently, have also been impacted by market sentiment, with the Nasdaq China Golden Dragon Index falling 5.24% on Monday. This article is reprinted from Tencent Self-Selection Stocks. Editor: Chen Wenfang.