Group 1 - The China Securities Hong Kong Stock Connect Consumer Theme RMB Index (931455) increased by 0.11% as of May 6, 2025, with notable gains in constituent stocks such as Nongfu Spring (09633) up 7.49%, MGM China (02282) up 6.60%, Chow Tai Fook (01929) up 6.04%, Sands China Ltd. (01928) up 5.21%, and Meituan-W (03690) up 4.98% [1] - The Hong Kong Stock Consumer ETF (159735) rose by 3.32%, with the latest price at 0.81 yuan. Over the past two weeks, the ETF has accumulated a rise of 4.53% as of April 30, 2025 [1] - The trading activity for the Hong Kong Stock Consumer ETF was active, with a turnover of 24.85% and a transaction volume of 159 million yuan. The average daily transaction volume over the past month was 154 million yuan, ranking it first among comparable funds [1] Group 2 - According to Galaxy Securities, the impact of the U.S. so-called "reciprocal tariff" policy is diminishing, leading to a gradual recovery in investor risk appetite. Positive fiscal policies and moderately loose monetary policies are expected to support stable earnings growth in Hong Kong stocks [2] - Current valuations of Hong Kong stocks are at historically low to medium levels, indicating high medium to long-term investment value. Short-term focus should be on sectors benefiting from domestic demand expansion policies, technology sectors with improved self-sufficiency, and sectors with low trade dependency and high dividend yields [2]

Group 1: Water Pricing and Supply Sector - Guangzhou's water price policy has been raised, with residential water prices increasing by 28.8%, 28.6%, and 93.2% for the first, second, and third tiers respectively, and non-residential prices up by 27.2% [1] - The report indicates a trend of rising water prices across various regions in China, reflecting market-oriented policy principles, making the water supply sector a preferred investment choice [1] - Companies such as China Water Affairs (00855), Cheung Kong Infrastructure (01038), and Xinao Energy (02688) are highlighted as favorable stocks within the water supply sector [1] Group 2: Power Generation and Coal Prices - The performance of some thermal power generation companies in Q1 2025 was subpar due to a decline in power generation and grid electricity prices, despite a drop in coal prices [2] - As of April 28, the price of Qinhuangdao 5500 kcal thermal coal was 655 RMB/ton, down 20.6% year-on-year, and down 14.0% compared to the end of 2024 [2] Group 3: Natural Gas Market - The TTF natural gas futures price was 32.7 euros/MWh as of April 30, up 11.9% year-on-year but down 32.7% from 48.6 euros at the end of last year [2] - The new U.S. government is expected to promote domestic oil and gas production, which may lead to further declines in natural gas supply prices [2] - A recent agreement between the U.S. and Ukraine regarding local mineral extraction is seen as potentially reducing geopolitical risks and stabilizing natural gas prices, benefiting Chinese natural gas operators reliant on LNG imports [2]

近日，国际大行摩根士丹利发布报告称，上调美图公司目标价至6港元。据不完全统计，近一个月以 来，包括大摩、高盛、中金等超20家券商机构发布美图相关研报，普遍将目标价上调至6-7港元左右， 给予2025年32-35倍PE。 总的来看，产品矩阵和商业模式成熟，生产力工具出海前景广阔，业绩兑现能见度高，是美图被机构普 遍看好的主要原因。 华泰证券分析认为，根据 Sensor tower，2024年海外整体图像市场空间约为中国的 7 倍，已有影像类工 具印证了出海的付费潜力和道路的有效性。从已有案例对标看，单个 AI 图像类应用全球化的短期潜在 空间约为 1-8 亿美元。该机构表示，美图基于国内优质产品经验，搭建全球产品发布机制，有望以出海 打开全新增长曲线。 此外，中金公司在最新发布的研报中透露，美图生活场景产品的国内付费渗透率已达5.2%，同时海外 用户规模增长加速，AI换装带动海外版美颜相机、Wink月活跃用户数环比大幅增长。 商业化的确定性叠加出海的潜在成长空间，使美图公司成为目前行业中较为稀缺的标的。中金预计，在 付费渗透率和用户增长的双轮驱动下，美图2025 年订阅收入同比增长超40%。大摩对美图2025至 ...

零跑汽车：5月1日-5月5日，全系订单超18000台 金十数据5月6日讯，零跑汽车(09863.HK)官博今日发布，5月1日-5月5日，全系订单超18000台。5月5日 全系单日订单超3700台，C11单品单日达1099台。 ...

从公司获悉，奈雪的茶最新数据显示，"五一"假期期间，全国门店销售火爆，部分门店订单量环比节前 激增超300%。奈雪景区及交通枢纽门店客流显著增长，深圳、上海、成都等热门旅游目的地的奈雪门 店业绩喜人，杭州机场店、深圳机场店等枢纽门店跻身销量榜前十。部分商圈奈雪门店"五一"期间单日 订单量突破千杯，消费者排队超50分钟仍热情不减。（证券时报） ...

正荣地产在香港暂停交易。 ...

智通财经5月6日电，正荣地产在香港暂停交易。 ...

Core Viewpoint - CICC expects Xiaomi's Q1 revenue to reach a record high, driven by strong performance in IoT and automotive sectors, maintaining an outperform rating [1] Revenue and Profit Forecast - Xiaomi's Q1 revenue is projected to grow by 44.85% year-on-year to 109.37 billion RMB [1] - Adjusted net profit is anticipated to increase by 53.03% year-on-year to 9.93 billion RMB, which includes a loss of 340 million RMB from automotive and innovative businesses [1] Long-term Growth Potential - CICC expresses optimism regarding the long-term growth potential of Xiaomi's new vehicle launches and AI-related devices [1] - The firm has raised its adjusted net profit forecasts for Xiaomi for 2025 and 2026 by 4.6% and 3.8%, respectively, to 40.2 billion RMB and 54.74 billion RMB [1]

Group 1 - The core viewpoint of the report indicates that SUTENG JUCHUANG (02498) is expected to achieve a revenue growth of 47.2% year-on-year in 2024, reaching 1.65 billion RMB, with 93.0% of the revenue coming from sales of LiDAR used in ADAS, robotics, and other applications [1] - The gross margin for the group is projected to significantly improve to 17.2% in 2024, reflecting a positive trend in profitability [1] - The sales volume of LiDAR for ADAS in Q4 2024 is expected to be 153,900 units, with a gradual shift from MIP to MX as the main revenue source [1] Group 2 - The group achieved sales of 8,300 units of LiDAR for robotics in Q4 2024, maintaining an optimistic outlook for LiDAR shipments [2] - The introduction of E1R, a LiDAR based on E1 for robotics, is expected to drive growth, alongside contributions from A1ry and AC1 [2] - The increasing adoption of robotics in industrial and commercial applications presents significant market opportunities for LiDAR [2] Group 3 - The company's strong R&D capabilities enable it to adapt to market trends and provide competitive solutions, with plans to offer moderately customizable solutions to meet specific customer needs [3] - The ADAS LiDAR market remains highly concentrated and oligopolistic, allowing OEMs to maintain balance and mitigate risks associated with supply chain concentration [3] - The firm is believed to maintain its leadership position in the LiDAR field [3]

马来西亚贸易部长：全球经济增长和全球贸易对马来西亚出口的影响将超过货币波动。 ...