Pre-market report on A-shares | NVIDIA Corporation (NVDA.US) performance and guidance both exceed market expectations; CICC, Galaxy respond to merger rumors.

Pre-Market News 1. Nvidia's performance and guidance exceed market expectations, Huang Renxun exclaims at the incredible demand for Blackwell chips. Category: Company Sentiment Impact: Positive Nvidia's Q4 revenue was $39.331 billion, a year-on-year increase of 78%, with a net profit of $22.066 billion, a year-on-year increase of 72%, both exceeding analysts' expectations. In addition, the expected revenue for the new fiscal year Q1 is $43 billion. Huang Renxun stated in the financial report that the demand for Blackwell chips in the market is remarkable. 2. CICC and China Galaxy respond to merger rumors: no plans for merger Category: Company Sentiment Impact: Neutral Yesterday afternoon, there were rumors of a merger between CICC and China Galaxy Securities. In the evening, both companies issued clarifications stating that they have not received any written or oral information from government departments, regulatory agencies, or company shareholders regarding merger rumors, and that there are no plans for a merger. 3. China Banking and Insurance Regulatory Commission, National Development and Reform Commission: Attracting and mobilizing more social capital to support the development of innovative companies Category: Macro Sentiment Impact: Positive The China Banking and Insurance Regulatory Commission and the National Development and Reform Commission jointly held a meeting to promote the coordination mechanism for supporting financing for small and micro enterprises. The meeting proposed actively promoting pilot projects to attract more social capital to support the development of innovative companies. It aims to optimize the equity investment environment and mobilize more funds and resources to support pilot projects. 4. Highlights of the first cabinet meeting of the Trump administration: Ukraine, selling visas to pay off debt, tariffs, etc. Category: Macro Sentiment Impact: Neutral Trump announced that Zelensky will visit the White House on Friday and sign a resource agreement. Trump also stated that most tariffs will continue to be implemented. It is expected that there will be an announcement soon regarding a 25% tariff on EU imports to the US, with equivalent tariffs to be implemented on April 2, and a 25% tariff on imports of non-energy products from Mexico and Canada. Investment Calendar Xiaomi to hold Double Ultra launch event today Investment Tips Investment Tip: The formation and bursting of market bubbles are inevitable. Investors should be wary of extreme valuations and take action before the bubble bursts. "The End of Bubble" by Jeremy Grantham Editor's View Editor's View: Yesterday, all three major indices rose collectively, the steel sector showed strong growth, and brokerage stocks closed high at the end of the day due to rumors. Orient believes that the pan-technology sector is still worth looking at from a bullish perspective. Institutional Views 1. CMSC: Over the past two years, the AI sector has fallen during earnings season. Watch for potential earnings declines in late March. 2. Zhongtai: Technology stocks will continue to be active and volatile. Maintain dividend assets, bonds, and other combinations in the medium term. 3. Orient: The pan-technology sector is still the main mainstream product in the market and remains worth considering from a bullish perspective. Positive and Negative Outlook 1. DeepSeek announces a reduction in API call prices, with the maximum discount of 75% during off-peak hours Category: Market Hot Discussion Soochow: DeepSeek has made breakthroughs in model capabilities and cost reductions through algorithmic innovation in the context of limited high-end computing power. The open-source model is expected to further narrow the gap between large models in China and abroad, contributing to the valuation of AI-related businesses of leading Internet companies. 2. Prices of some rare earth products hit a new high in over a year, bringing new demand for humanoid Siasun Robot & Automation Category: Market Hot Discussion CITIC SEC: 2025 is expected to be the year of mass production for humanoid Siasun Robot & Automation. The industry is breaking through critical points at a super-linear speed. High-performance neodymium iron boron, a key material for Siasun Robot & Automation motors, is expected to benefit significantly in the future. Continuous recommendations for strategic allocation value of the rare earth permanent magnet sector. 3. Xiaomi's first AI glasses may be announced today, with internal sales expectations of 300,000 units Category: Market Hot Discussion Zheshang: Policy and new product catalysis frequently occur, and the development of AI glasses may usher in an outbreak turning point. AI glasses, as one of the important terminal applications, are expected to accelerate in the future. It is estimated that the global AI glasses market size may exceed $300 billion by 2030. Announcements Slightly Positive Announcements 1. Goertek Inc.: Controlling shareholder Goer Group plans to increase its holding of the company's shares by $500 million to $1 billion. 2. Shanghai Awinic Technology: Net profit in 2024 increased by 399.83% year-on-year. 3. Jiangsu Maixinlin Aviation Science and Technology Corp.: Net profit in 2024 was 45.28 million yuan, an increase of 197% year-on-year. Slightly Negative Announcements 1. Chongqing Zonsen Power Machinery: Shareholder Tibet Guolong Technology plans to reduce its holding of the company's shares by no more than 3%. 2. Cybrid Technologies Inc.: Shareholder Yinhuang Investment plans to reduce its holding of the company's shares by no more than 3%. 3. Marssenger Kitchenware: Haining Dayou and Haining Dahong plan to collectively reduce their holding of the company's shares by no more than 2.94%. Overseas Markets Selected Brother's Tips: Trump's tariff remarks impact market sentiment, with Nasdaq and S&P rising and then falling to close barely higher, with tech giants showing mixed movements. Chinese stocks continue to outperform the market, with the Nasdaq China Golden Dragon Index rising by 3.66%. This article is reprinted from Tencent's Self-selected Stocks, GMTEight Editor: Liu Xuan.