Group 1: OpenAI Financing and Growth - OpenAI announced a new financing round, raising $122 billion, with a post-money valuation of $852 billion [2] - OpenAI is the fastest technology platform to reach 10 million users and is expected to become the fastest to reach 1 billion weekly active users [2] - The company's revenue reached $1 billion within a year of launching ChatGPT, with current monthly revenue at $2 billion, growing at a rate four times faster than companies like Alphabet and Meta [2] Group 2: Huawei's Financial Performance - Huawei reported a global sales revenue of 880.9 billion yuan and a net profit of 68 billion yuan for 2025 [3] - The company plans to invest 192.3 billion yuan in R&D, representing 21.8% of its total revenue, with cumulative R&D spending exceeding 1.382 trillion yuan over the past decade [3] - Huawei's rotating chairman Meng Wanzhou emphasized the company's commitment to high-quality development and strategic focus [3] Group 3: NVIDIA and Marvell Partnership - NVIDIA and Marvell announced a strategic partnership to connect Marvell to NVIDIA's AI ecosystem through NVLinkFusion [4] - NVIDIA invested $2 billion in Marvell, which will provide customized XPU and vertically scalable networks compatible with NVLink Fusion [4] - The collaboration aims to transform global telecom networks into AI infrastructure, focusing on advanced optical interconnect solutions and silicon photonics technology [4] Group 4: Apple AI Feature Withdrawal - Apple briefly allowed the download of an AI feature in China, which was quickly retracted due to software issues, with the launch date pending regulatory approval [5] Group 5: WeRide and Uber's Robotaxi Launch - WeRide and Uber launched the first pure unmanned Robotaxi service in Dubai, supported by the Dubai Roads and Transport Authority [7] - Passengers can request rides through the Uber app's "Autonomous" category, with Tawasul managing the fleet operations [7] Group 6: Bilibili Algorithm Change - Bilibili announced the discontinuation of its "Recommended for You" algorithm, opting for a new recommendation system starting April 1 [8] Group 7: OPPO and realme Service Integration - OPPO will fully integrate realme into its after-sales service network starting April 1, 2026, maintaining existing customer rights [9] Group 8: Longxin Technology IPO Suspension - Longxin Technology's IPO on the Sci-Tech Innovation Board was suspended due to outdated financial data in its application [10] Group 9: Kioxia Production Halt - Kioxia announced a gradual phase-out of certain NAND products, with final customer order deadlines set for September 30, 2026, and final shipments by December 31, 2028 [10] Group 10: Tianyue Advanced Strategic Agreements - Tianyue Advanced signed strategic cooperation agreements with four partners to collaborate on the silicon carbide industry chain in various sectors [11] Group 11: Galaxy Aerospace IPO Initiation - Galaxy Aerospace has completed IPO counseling registration with the Beijing Securities Regulatory Bureau, aiming to provide satellite internet solutions [12][13] Group 12: Zhongke Aerospace IPO Acceptance - Zhongke Aerospace's IPO application has been accepted by the Shanghai Stock Exchange, with plans to raise 4.18 billion yuan for developing reusable launch vehicles [14]

Key Insights - The report highlights that the Hong Kong stock market experienced consolidation in March, primarily influenced by geopolitical uncertainties rather than fundamental factors [1] - The report anticipates a potential recovery in the market as geopolitical tensions ease and a meeting between the US and China leaders is expected to catalyze positive sentiment [2] - The report presents a selection of "golden stocks" for April, indicating a shift in investment focus towards defensive sectors such as energy and banking, with a preference for high dividend yields [1][2] Company Summaries 中创新航 (Zhongxin Innovation) - The company is expected to achieve a revenue of 44.4 billion yuan in 2025, representing a 60% year-on-year growth, with a net profit increase of 150% to 1.48 billion yuan [3] - The target price has been raised to 42.88 HKD, indicating a potential upside of 35.4% [3] 雅迪控股 (Yadea Group) - The company reported a strong recovery in two-wheeler sales, with a projected 25% year-on-year increase to 16.27 million units in 2025 [7] - The target price is set at 22.63 HKD, suggesting a potential upside of 70.8% [7][8] 赛力斯 (Seres) - The company expects a revenue growth of 13.7% to 165.05 billion yuan in 2025, with a net profit of 5.96 billion yuan [9] - The target price has been adjusted down to 135.20 RMB, reflecting a potential upside of 43.5% [9] 豪威集团 (OmniVision) - The company anticipates a revenue of 28.85 billion yuan in 2025, with a net profit of 4.04 billion yuan, which is below market expectations [10][11] - The target price has been lowered to 115 RMB, corresponding to a 33x 2026 P/E ratio [11] 翰森制药 (Hansoh Pharmaceutical) - The company achieved a revenue of 15.03 billion yuan in 2025, exceeding expectations, with a net profit growth of 27% [12][13] - The target price is adjusted to 44.50 HKD, indicating a potential upside of 25.4% [12] 三生制药 (3SBio) - The company reported a revenue of 8.01 billion yuan in 2025, with a projected recovery in sales in 2026 [14] - The target price is set at 32.40 HKD, suggesting a potential upside of 33.4% [14][15] 美的集团 (Midea Group) - The company achieved a total revenue of 458.5 billion yuan in 2025, with a net profit growth of 15.5% [16][17] - The target price is maintained at 96.20 RMB, indicating a potential upside of 26% [17] 申洲国际 (Shenzhou International) - The company reported a revenue growth of 8.1% to 31 billion yuan in 2025, but net profit decreased by 6.7% [18][19] - The target price is adjusted to 74.10 HKD, reflecting a potential upside of 54.2% [19] 京能清洁能源 (Jingneng Clean Energy) - The company experienced a 9.2% decline in profit in 2025, but announced a special dividend, maintaining an attractive yield [23][24] - The target price is set at 2.68 HKD, indicating a potential upside of 18.6% [24] 华润置地 (China Resources Land) - The company reported a slight revenue increase of 0.9% to 281.44 billion yuan in 2025, with a stable dividend payout [25][26] - The target price is maintained at 35.30 HKD, reflecting a significant discount to net asset value [26]

Group 1 - Nvidia has made strategic investments totaling at least $18 billion in the past six months, focusing on strengthening partnerships and advancing AI infrastructure [1] - A recent $2 billion investment in Marvell Technology aims to enhance data center optical interconnect technology through collaboration with Nvidia's AI ecosystem [1] - Nvidia's $2 billion investment in Nebius, a leading AI computing rental provider in Europe, will support the deployment of over 5 GW of Nvidia systems by the end of 2030 [1] Group 2 - The industry trend indicates a shift in AI data centers from single-chip computing power to cluster-level interconnect bandwidth, energy consumption, and scalability [2] - Lumentum is recognized as a key manufacturer of optical communication components, essential for AI data centers requiring high bandwidth and low latency [2] - Optical interconnect technology is crucial for large-scale AI training networks, significantly improving bandwidth density and energy efficiency while reducing latency and power consumption [2] Group 3 - Nvidia's Spectrum-X/Quantum-X silicon photonic switches integrate laser and photonic technologies, enhancing power efficiency and network capacity, with Lumentum's components being vital [3] - Nvidia's $2 billion investment in CoreWeave aims to accelerate the establishment of over 5 GW of AI factories by 2030 [3] Group 4 - Nvidia's $5 billion acquisition of Intel shares in late 2025 aims to integrate Nvidia's AI stack with Intel's CPU ecosystem, creating a powerful computing platform [4] - A $2 billion investment in Synopsys is intended to enhance design and simulation capabilities for intelligent products [4] - Nvidia's $1 billion investment in Nokia aims to integrate technologies for leadership in AI-driven networks [4] Group 5 - Nvidia's largest single investment during this period was a $30 billion investment in OpenAI, alongside investments in several AI-related startups [5]

Core Insights - Lenovo Group's revenue in the first three fiscal quarters grew over 20% year-on-year, contributing to a profit increase of over 30% despite market fluctuations [1] Group 1: Personal Intelligent Business - The China region continues to implement the "one body, multiple ends" strategy, focusing on user experience to drive the iteration and upgrade of the Tianxi personal super intelligent system [1] - Revenue from Lenovo AI PCs, which incorporate Tianxi, has surpassed 30% of total PC revenue, leading to the highest market share in the Chinese PC market in nine years [1] Group 2: Enterprise Intelligent Business - The enterprise infrastructure business achieved nearly 50% revenue growth, significantly outperforming the market by 47 percentage points, successfully turning losses into profits [1] - The cloud infrastructure business has secured large contracts, further solidifying its strategic customer base [1] Group 3: Service Solutions Business - The solution service business continues to show high growth, with both revenue and profit contributions maintaining over 20% year-on-year growth, remaining the leader in the Chinese IT service market [1] - The "Lenovo Lexiang" enterprise super intelligent system, launched last year, has seen transaction volumes exceed 3 billion yuan, becoming a flagship product for Lenovo's AI applications [1]

Core Insights - Lenovo Group announced that the fiscal year 2025/26 was the best in its history, marking a successful start to a new decade focused on artificial intelligence [1] - The company achieved an 18% revenue growth in the first three quarters, translating to an increase of approximately 70 billion RMB, with adjusted net profit exceeding 10 billion RMB and a growth rate of 28% [1] - Lenovo's AI-related revenue doubled year-on-year, accounting for one-third of total revenue, becoming the primary growth driver for the company [1] Business Performance - The Intelligent Devices Group (IDG) reported a 14% year-on-year revenue growth, with PC market share reaching a historic high of 25.2%, outpacing market growth by nearly 7 percentage points [2] - Lenovo became the world's leading AI PC brand, with its smartphone business growing 4 percentage points above market average, improving its global ranking to the Top 4 [2] - The Infrastructure Solutions Group (ISG) achieved a 30% year-on-year revenue growth after strategic restructuring, with x86 servers ranking third globally and in China [2] - The Solutions and Services Group (SSG) has seen double-digit revenue growth for 19 consecutive quarters, with a nearly 30% increase in operating profit and high customer satisfaction and retention rates [2] Investment Contributions - Lenovo Capital has contributed an average of 1 billion RMB annually over the past ten years, successfully investing in eight companies with a market value of 200 billion RMB, four of which reached 500 billion RMB [3] - The investment arm achieved a record high in investment returns last fiscal year, contributing to a total of 25 IPOs [3] Regional Performance - The China region experienced over 20% revenue growth in the first three fiscal quarters, with profit growth exceeding 30% [4]

Group 1: Hot News - US President Trump is willing to end the military action against Iran even if the Strait of Hormuz remains largely closed, believing the war may end soon, and other countries can reopen the strait without US military aid. US Defense Secretary Hegdeth said the "top priority" is to seek an agreement to end the war. Iranian President Pezeshkian is willing to end the war if Iran's demands are met, especially getting a guarantee of no more aggression [2] - Iran's Islamic Revolutionary Guard Corps announced 18 US ICT and AI - related companies and institutions in the Middle East as "legitimate targets", including Nvidia, Apple, Tesla, etc. [2] - China's economic sentiment has rebounded. In March, with the acceleration of resumption of work and production after the Spring Festival, both production and demand expanded. China's manufacturing, non - manufacturing, and comprehensive PMI output indices returned to the expansion range, at 50.4%, 50.1%, and 50.5% respectively, up 1.4, 0.6, and 1 percentage points from the previous month [2] - A batch of national new regulations will be officially implemented in April. For example, the "Regulations on the Supervision of Short - term Trading" will be implemented on April 7, and the "Rules on the Pricing Behavior of Internet Platforms" on April 10 [3] - The Dalian Commodity Exchange announced that during the Tomb - sweeping Festival holiday in 2026, the price limit range and trading margin level of each futures contract will remain unchanged [3] Group 2: Key Commodities Night - session Performance - Focus on urea, coking coal, silver, lithium carbonate, and crude oil. The night - session performance shows certain fluctuations [4] Sector Performance - Non - metallic building materials had a 2.57% increase, precious metals 26.23%, oilseeds and fats 8.87%, soft commodities 2.55%, non - ferrous metals 23.13%, coal, coke, steel, and minerals 9.86%, energy 7.49%, chemicals 15.32%, grains 1.04%, and agricultural and sideline products 2.94% [6] Group 3: Asset Performance Stock Indices - The Shanghai Composite Index had a daily decline of 0.80%, monthly change of 0.00%, and annual decline of 1.94%. The SSE 50 had a daily decline of 0.25%, monthly change of 0.00%, and annual decline of 6.76%. The CSI 300 had a daily decline of 0.93%, monthly change of 0.00%, and annual decline of 3.89%. The CSI 500 had a daily decline of 1.76%, monthly change of 0.00%, and annual increase of 2.03%. The S&P 500 had a daily increase of 2.91%, monthly change of 0.00%, and annual decline of 4.63%. The Hang Seng Index had a daily increase of 0.15%, monthly change of 0.00%, and annual decline of 3.29%. The German DAX had a daily increase of 0.52%, monthly change of 0.00%, and annual decline of 7.39% [7] Other Assets - The 10 - year Treasury bond futures had a daily increase of 0.04% and an annual increase of 0.50%. The 5 - year Treasury bond futures had a daily increase of 0.03%, monthly change of 0.00%, and annual increase of 0.33%. The 2 - year Treasury bond futures had a daily change of 0.00%, monthly change of 0.00%, and annual increase of 0.08%. The CRB commodity index had a daily change of 0.00%, monthly change of 0.00%, and annual increase of 24.27%. WTI crude oil had a daily decline of 1.10%, monthly change of 0.00%, and annual increase of 76.96%. London spot gold had a daily increase of 3.45%, monthly change of 0.00%, and annual increase of 8.13%. LME copper had a daily change of 0.00%, monthly change of 0.00%, and annual decline of - 2.41%. The Wind commodity index had a daily increase of 1.23%, monthly change of 0.00%, and annual change of 0.05%. The US dollar index had a daily decline of - 0.62%, monthly change of 0.00%, and annual increase of 1.64%. The CBOE volatility had a daily change of 0.00%, monthly change of 0.00%, and annual increase of 104.75% [8] Group 4: Main Commodity Trends - The report shows the trends of the Baltic Dry Index (BDI), CRB spot index, WTI crude oil, London spot gold, London spot silver, LME 3 - month copper, gold - oil ratio, copper - gold ratio, CBOT soybeans, and CBOT corn [10] Group 5: Stock Market Risk Preference - The report presents the relationship between the Wind All - A (excluding finance and petroleum and petrochemicals) and risk premium, as well as the risk premiums of SSE 50, CSI 300, and CSI 500 [13][14]

Investment Rating - The investment rating for the company is "Buy" [6] Core Insights - The company achieved a revenue of 9.49 billion yuan in 2025, representing a year-on-year growth of 53.8%, and a net profit attributable to shareholders of 700 million yuan, up 52.4% year-on-year [1] - In Q4 2025, the revenue reached 3.13 billion yuan, with a year-on-year increase of 67.7%, and a net profit of 240 million yuan, up 69.2% year-on-year [1] - The storage business showed exceptional growth, with a year-on-year increase of 213.2% in 2025, and a remarkable 319.9% growth in Q4 2025 [1] - The company launched AI NAS at CES in January 2026, which is expected to drive sustainable growth in 2026 through new product offerings [1] Financial Performance - The gross margin for the storage business improved significantly, with a year-on-year increase of 2.81 percentage points to 29.04% in 2025 [2] - The company reported a stable gross margin of 37% for 2025, with a slight decrease of 0.4 percentage points year-on-year [3] - The net profit margin for 2025 was 7.4%, a decrease of 0.1 percentage points year-on-year, while Q4 2025 saw a net profit margin of 7.6%, an increase of 0.04 percentage points year-on-year [3] Business Expansion - The company experienced significant growth in both domestic and international markets, with domestic revenue increasing by 39.7% and international revenue by 64.27% in 2025 [2] - In Q4 2025, domestic revenue grew by 46.6% and international revenue by 81.6%, indicating strong performance in overseas markets [2] - The company has successfully entered offline channels such as Walmart, Costco, and Best Buy in the U.S., and Media Markt in Europe [2] Profit Forecast and Investment Suggestion - The company is expected to achieve net profits of 1.05 billion yuan, 1.52 billion yuan, and 2.09 billion yuan for 2026, 2027, and 2028, respectively, with year-on-year growth rates of 49.3%, 44.4%, and 37.3% [3]

Core Insights - Anthropic's Claude Code being open-sourced has become a significant topic in Silicon Valley [1] - OpenAI has successfully completed a financing round amounting to $122 billion [1] Group 1 - The open-sourcing of Claude Code by Anthropic is a notable development in the tech industry [1] - OpenAI's recent financing achievement of $122 billion highlights the growing investment interest in AI technologies [1]

Group 1: Financial Performance - The company's gross margin for 2025 is expected to improve due to scale effects, enhanced procurement bargaining power, and deepened internal cost reduction efforts [3] - Key drivers for gross margin improvement include steady growth in core businesses like wiper systems and semiconductors, which dilute fixed costs [3] - The company aims to optimize production processes and enhance operational efficiency to solidify cost control capabilities [3] Group 2: International Expansion - The company has established subsidiaries in Malaysia and Slovenia, and is actively pursuing a factory investment plan in Morocco to expand its overseas market presence [3] - Core products for overseas sales include smart power controllers, nitrogen-oxygen sensors, and intelligent wiper systems [3] Group 3: Product Development and Innovation - The company is upgrading its wiper system products from single components to comprehensive mechanical and electronic systems, enhancing product value and meeting high-quality demands from downstream customers [3] - The semiconductor power device business is experiencing rapid growth, driven by market share gains and competitive advantages in technology and production [3][4] - The company is advancing its sensor product matrix, including particulate matter sensors and preheating relays, to support future business growth [3] Group 4: Competitive Advantages - The nitrogen-oxygen sensor business has strong profitability due to high technical barriers, vertical integration of the supply chain, and significant cost control [3] - In the connector field, the company leads in both cost and quality, with a strong mold development capability that ensures product consistency and stability [4] Group 5: Future Outlook - For 2026, the company plans to deepen its focus on the automotive smart electronics sector, enhance vertical integration of the supply chain, and improve product quality and cost management [4] - The company aims to leverage its technological strengths to explore emerging industries, particularly in artificial intelligence, to foster new growth drivers [4]

Report Industry Investment Rating No information provided in the given content. Core Viewpoints of the Report - Through macro - fundamental and technical analysis, the report predicts the trend, resistance, and support levels of various futures contracts in April 2026 [2]. - The report also analyzes the market performance of various futures on March 31, 2026, and provides short - term and long - term trend predictions for April 1, 2026, and the whole month of April 2026 [13][18]. Summary by Related Catalogs 1. Macro Information and Trading Tips - The US, Iran, and other countries have expressed their stances on the end of the war. The US is seeking an agreement to end the war, and Iran is willing to end the war under certain conditions [5]. - China's Minister of Foreign Affairs Wang Yi and Pakistan's Deputy Prime Minister and Minister of Foreign Affairs Dar held talks and put forward five initiatives on the situation in the Gulf and the Middle East [6]. - The central bank's monetary policy committee proposed to use various policy tools to strengthen monetary policy regulation and maintain the stable operation of the financial market [7]. - China's economic sentiment has rebounded, with the manufacturing, non - manufacturing, and comprehensive PMI output indices all returning to the expansion range [7]. - The total operating income of state - owned enterprises from January to February increased slightly year - on - year, while the total profit decreased. The asset - liability ratio increased [7]. - A number of national new regulations will be implemented from April [8]. - The Iran war may cause significant losses to the GDP of Arab countries, increase unemployment, and push more people into poverty. High - end estimates show that the GDP of some countries may shrink [8]. - The US may make a decision on NATO's future after the end of the military operation against Iran [8]. - Some Gulf countries hope that the US will continue the war against Iran, and Iran has warned against a possible US ground war [9]. - The US and Israel launched an attack on an Iranian steel plant [9]. - The Kansas Fed President warned about the impact of the Iran conflict on inflation [9]. - A US federal judge ruled that the Trump administration's termination of the legal status of hundreds of thousands of immigrants was illegal and required the restoration of their status [9]. - NASA announced the countdown to the launch of the "Artemis 2" mission [10]. - The US consumer confidence index rose in March, and inflation expectations increased [10]. - The eurozone's CPI increased in March, and the European Central Bank may raise interest rates in April [10] 2. Commodity Futures - related Information - On March 31, international precious metal futures generally rose, with COMEX gold futures up 3.12% and COMEX silver futures up 6.77% [10]. - On March 31, US oil and Brent oil futures fell. The increase in US API crude oil inventories led to concerns about oversupply [11]. - The average price of regular gasoline in the US reached a nearly 4 - year high [12]. - On March 31, most London base metals rose [12]. - On March 31, the on - shore RMB against the US dollar rose, and the RMB central parity rate against the US dollar was raised [12]. - On March 31, the US dollar index fell, and most non - US currencies rose [13] 3. Futures Market Analysis and Forecast 3.1 Stock Index Futures - On March 31, the main contracts of stock index futures such as IF2606, IH2606, IC2606, and IM2606 generally showed a downward trend. They faced resistance when rebounding and had increased downward pressure in the short term [13][14][15]. - In April 2026, these contracts are expected to be in a weak - oscillating trend, with specific support and resistance levels provided [18]. - On April 1, 2026, stock index futures are expected to be in a strong - oscillating trend, with corresponding support and resistance levels [18] 3.2 Precious Metal Futures - **Gold Futures**: On March 31, the main contract AU2606 showed a slightly strong - oscillating trend. In April 2026, the main continuous contract is expected to be in a wide - oscillating trend. On April 1, 2026, it is expected to be in a strong - oscillating trend [30]. - **Silver Futures**: On March 31, the main contract AG2606 showed a strong - oscillating upward trend. In April 2026, the main continuous contract is expected to be in a wide - oscillating trend. On April 1, 2026, it is expected to be in a strong - oscillating trend [38] 3.3 Base Metal Futures - **Copper Futures**: On March 31, the main contract CU2605 showed a slightly weak - oscillating downward trend. In April 2026, the main continuous contract is expected to be in a weak - oscillating trend. On April 1, 2026, it is expected to be in a strong - oscillating trend [42]. - **Aluminum Futures**: On March 31, the main contract AL2605 showed an oscillating upward trend. In April 2026, the main continuous contract is expected to be in a strong - wide - oscillating trend. On April 1, 2026, it is expected to be in a strong - oscillating trend [48]. - **Alumina Futures**: On March 31, the main contract AO2605 showed a weak - oscillating downward trend. In April 2026, both AO2605 and AO2609 are expected to be in a strong - oscillating trend [55]. - **Carbonate Lithium Futures**: On March 31, the main contract LC2605 showed a significant downward trend. In April 2026, the main continuous contract is expected to be in a weak - wide - oscillating trend. On April 1, 2026, it is expected to be in a wide - oscillating trend [56] 3.4 Building Material Futures - **Rebar Futures**: On March 31, the main contract RB2605 showed a slightly downward trend. In April 2026, both RB2605 and RB2610 are expected to be in a strong - wide - oscillating trend [63]. - **Iron Ore Futures**: On March 31, the main contract I2605 showed a downward trend. In April 2026, both I2605 and I2609 are expected to be in a strong - oscillating trend. On April 1, 2026, I2605 is expected to be in a strong - oscillating trend [65][66]. - **Coking Coal Futures**: On March 31, the main contract JM2605 showed a significant downward trend. In April 2026, both JM2605 and JM2609 are expected to be in a strong - oscillating trend [72]. - **Glass Futures**: On March 31, the main contract FG605 showed a weak - oscillating downward trend. In April 2026, both FG605 and FG609 are expected to be in a weak - wide - oscillating trend [76]. - **Soda Ash Futures**: On March 31, the main contract SA605 showed a weak - oscillating downward trend. In April 2026, both SA605 and SA609 are expected to be in a weak - wide - oscillating trend [80] 3.5 Energy Futures - **Crude Oil Futures**: On March 31, the main contract SC2605 showed a weak - oscillating downward trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend and may reach a new high. On April 1, 2026, it is expected to be in a weak - oscillating trend [85]. - **Fuel Oil Futures**: On March 31, the main contract FU2605 showed a weak - oscillating downward trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend and may reach a new high [89]. - **Asphalt Futures**: On March 31, the main contract BU2606 showed a slightly weak - oscillating trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend [91] 3.6 Chemical Futures - **Linear Low - Density Polyethylene Futures**: On March 31, the main contract L2605 showed a weak - oscillating downward trend. In April 2026, it is expected to be in a strong - oscillating trend. On April 1, 2026, it is expected to be in a weak - oscillating trend [93]. - **Polypropylene Futures**: On March 31, the main contract PP2605 showed a downward trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend. On April 1, 2026, it is expected to be in a weak - oscillating trend [98][99]. - **Styrene Futures**: On March 31, the main contract EB2605 showed a downward trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend and may reach a new high. On April 1, 2026, it is expected to be in a weak - oscillating trend [104]. - **PTA Futures**: On March 31, the main contract TA605 showed a downward trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend. On April 1, 2026, it is expected to be in a weak - oscillating trend [109]. - **PVC Futures**: On March 31, the main contract V2605 showed a weak - oscillating downward trend. In April 2026, the main continuous contract is expected to be in a wide - oscillating trend. On April 1, 2026, it is expected to be in a wide - oscillating trend [114]. - **Methanol Futures**: On March 31, the main contract MA605 showed a weak - oscillating downward trend. In April 2026, the main continuous contract is expected to be in a strong - oscillating trend. On April 1, 2026, it is expected to be in a weak - oscillating trend [119][120]. - **Ethylene Glycol Futures**: On March 31, the main contract EG2605 showed a weak - oscillating downward trend. On April 1, 2026, it is expected to be in a weak - oscillating trend [125]. - **Butadiene Futures**: On March 31, the main contract BR2605 showed a weak - oscillating downward trend. On April 1, 2026, it is expected to be in a strong - oscillating trend [128]