Hua Er Jie Jian Wen·2025-08-27 23:29Group 1: Nvidia - Nvidia's revenue and profit exceeded expectations, but the guidance for the upcoming quarter was less impressive, with a focus on the "absence of China" as a key issue [10][12] - The company reported a year-on-year revenue growth rate of over two years' lowest, yet still above analyst expectations, with a significant drop in data center revenue due to a $4 billion decrease in H20 sales [12] - Nvidia announced a new $60 billion share buyback authorization and highlighted a potential $50 billion business opportunity in China for the year [10][12] Group 2: Meituan - Meituan's Q2 adjusted net profit plummeted 89% year-on-year to 1.49 billion yuan, significantly below expectations, with marketing expenses increasing by 51.8% [10][12] - The company achieved a revenue growth of 11.7% year-on-year, but its operating profit fell by 98% to 230 million yuan, with a drastic drop in operating profit margin from 13.7% to 0.2% [12] - Meituan's core local business revenue was 65.3 billion yuan, a 7.7% increase year-on-year, but the company anticipates significant losses in Q3 due to ongoing fierce competition [10][12] Group 3: Snowflake - Snowflake reported strong earnings, raising its full-year guidance, which led to a 13% increase in its stock price post-announcement [6][16] - The company’s remaining performance obligations reached $6.9 billion, a 33% year-on-year increase, indicating strong long-term customer investment [16] Group 4: Honey Snow Group - Honey Snow Group reported a 39.3% year-on-year growth in the first half of the year, with net profit increasing by 44.1% and global store expansion reaching 53,000 [15] Group 5: Global Economic Context - The U.S. stock market showed volatility ahead of Nvidia's earnings report, with the S&P 500 barely reaching a new high, while the Chinese concept stock index fell by 2.58% [2] - The U.S. Treasury yields fell across the board, with the 2-year yield dropping over 6 basis points, amid expectations of continued monetary policy easing from the Federal Reserve [2]