Nvidia(US:NVDA) Sou Hu Cai Jing·2025-11-20 22:20Group 1: Nvidia Performance - Nvidia reported Q3 FY2026 revenue of $57.006 billion, a 62% year-over-year increase, and net profit of $31.910 billion, up 65%, exceeding Wall Street expectations [2] - The company raised its revenue forecast for the current quarter, alleviating concerns about an AI bubble [2] - Nvidia's data center business achieved record revenue of $51.2 billion, with growth across all business segments [2] Group 2: Xiaomi Automotive Milestone - Xiaomi's 500,000th vehicle rolled off the production line, marking a significant milestone in its automotive journey [2] - Founder Lei Jun stated that this achievement validates Xiaomi's complete system capabilities and signifies entry into a new phase of scale [2] - The company aims to deliver over 400,000 vehicles in 2025, with over 100,000 delivered in Q3, a record high [2] Group 3: Japan's Economic Stimulus Plan - Japan's Prime Minister plans to introduce a ¥21.3 trillion economic stimulus package, the largest since the pandemic [3] - Concerns about the potential deterioration of fiscal health led to a decline in Japanese government bond prices and the yen [3] - The stimulus plan aims to reduce household living costs and promote investment, pending parliamentary approval [3] Group 4: US Non-Farm Payroll Data - The US September non-farm payroll report showed an addition of 119,000 jobs, exceeding expectations, with the unemployment rate slightly rising to 4.4% [3] - Following the data release, the likelihood of a Federal Reserve rate cut in December appeared low, though traders increased bets on a potential cut [3] - There is significant division among Federal Reserve officials regarding the appropriateness of maintaining or cutting rates in December [3] Group 5: A-share Market Trends - On November 20, the A-share market opened high but closed lower, with over 3,800 stocks declining [3] - The market's cautious sentiment is attributed to unresolved divergences around the 4,000-point level and profit-taking by some investors [3] - The trading volume dropped to ¥1.72 trillion, indicating a potential continuation of cautious sentiment into December [3] Group 6: Real Estate Sector Activity - The real estate sector experienced a sudden surge, with stocks like Sunac China and I Love My Home rising [3] - This movement is linked to industry rumors of favorable policies, although not officially confirmed [3] - The market is stabilizing with a focus on second-hand home transactions, supported by ongoing adjustments in real estate policies [3] Group 7: CATL Share Unlocking and Shareholder Actions - CATL's H-shares saw a portion of shares unlocked, with co-founder Huang Shilin planning to reduce holdings worth approximately ¥17 billion [4] - Despite the reduction being conducted through an inquiry transfer to minimize market impact, the stock price was still affected [4] - CATL's market share in power batteries is declining, while its energy storage business is expected to grow, with battery swapping becoming a strategic focus [4] Group 8: ETF Market Trends - On November 20, over 200 out of 1,300 ETFs saw gains, with cross-border ETFs leading the performance [5] - The previous trading day saw a net inflow of approximately ¥8 billion into ETFs, with a cumulative net inflow exceeding ¥50 billion from November 14 to 19 [5] - There was a notable shift in fund flows, with a preference for mid and small-cap ETFs over large-cap broad-based ETFs [5]