华泰证券今日早参-20250530

Key Insights - The report highlights a significant court ruling that challenges Trump's authority to impose tariffs, indicating a potential shift in U.S. trade policy and a possible increase in average tariffs by 15-20% [2][3] - The report discusses the implications of the ruling on U.S.-China trade relations, suggesting that while some tariffs may be lifted, strategic tariffs on competitive industries may remain unchanged [2][3] - The report emphasizes the ongoing trend of A-share companies seeking secondary listings in Hong Kong, with notable examples like Ningde Times raising 41 billion HKD, reflecting strong international investor interest [4] - The report presents a multi-dimensional timing framework for A-shares, indicating a significant improvement in performance metrics, with a Sharpe ratio of approximately 1 and an annualized return of about 22% [5] - The report discusses the advancements in technology analysis through the application of multi-modal models, enhancing the accuracy and efficiency of technical analysis in investment research [6] - The report notes the strong performance of Futu Holdings in Q1 2025, with revenues of 4.7 billion HKD, a year-on-year increase of 81%, driven by accelerated customer acquisition and increased trading volumes [8] - The report highlights the positive outlook for Li Auto with the upcoming launch of the i8 model, projecting a potential boost in sales and market performance [9] - The report indicates that the pharmaceutical company, CSPC Pharmaceutical Group, showed a notable quarter-on-quarter improvement in Q1 2025, with revenues of 7.015 billion CNY, reflecting a 11% increase from the previous quarter [10] - The report discusses NVIDIA's strong Q1 FY26 performance, with revenues exceeding expectations, particularly in the gaming segment, which saw a year-on-year increase of 42% [10]