Company Developments - JD Group issued an open letter addressing the forced "choose one" behavior imposed on part-time delivery riders by competing platforms, which led to delays in some orders. Starting April 21, all orders delayed by over 20 minutes will be free of charge, and JD will increase full-time rider recruitment from 50,000 to 100,000, ensuring no forced "choose one" policy for part-time riders [7] - Meituan responded to rumors regarding the "choose one" requirement for riders, stating that no platform has the motivation or ability to restrict riders' order choices. Meituan has never limited riders from accepting orders on other platforms and continues to support multi-platform work for riders [7] - CATL launched its second-generation supercharging battery, a lithium iron phosphate battery with a range of 800 kilometers and a peak charging power exceeding 1.3 megawatts, capable of achieving over 520 kilometers of range with just 5 minutes of charging [7] - Xianyu initiated a support plan for small foreign trade businesses and individual sellers, offering measures to help them convert inventory into domestic sales [7] - Rock Shares announced that its stock will be subject to delisting risk warnings, with trading suspended for one day on April 22 and the stock name changing to *ST Rock on April 23 [7] - GoerTek reported Q1 revenue of 16.305 billion yuan, a year-on-year decrease of 15.57%, while net profit was 469 million yuan, a year-on-year increase of 23.53% [9] Industry Insights - The Shanghai Stock Exchange held a meeting with over ten leading private equity firms, which expressed that Chinese asset valuations are currently relatively low. With domestic economic restructuring, favorable policies, and global capital rebalancing, there is significant potential for valuation recovery and enhancement in Chinese assets [5] - The China Securities Regulatory Commission reported that as of mid-April, over 1,160 foreign institutions have entered the Chinese bond market, holding a total of 4.5 trillion yuan in bonds, an increase of over 270 billion yuan since the end of 2024. The total scale of China's bond market has reached 183 trillion yuan, ranking second in the world [6]

国际新闻： 1. 关税-①据悉与特朗普将与零售公司会面讨论关税影响 ②消息人士：原定4月23日的泰国-美国贸易谈 判将不再举行 ③万斯会见莫迪，印度寻求特朗普关税减免 ④印度对部分钢铁产品征收12%的关税，为 期200天 ⑤美国拟对从柬埔寨、泰国、马来西亚、越南四国进口的太阳能产品加征新关税 ⑥美国贸易代 表办公室：与印度为互惠贸易谈判敲定了路线图。 12. 隔夜行情-现货黄金日内拉升逾100美元，历史高点至3430，原油结算价跌2.5%、美元跌超1%，一度 跌破98关口、美股三大股指均跌超2%、美债30Y、10Y均涨约9BP。 金十数据整理：昨日今晨重要新闻汇总（4月22日） 国内新闻： 9. 上交所召开私募机构座谈会，与会机构认为，当前中国资产估值处于相对较低水平，将坚定持有中国 优质资产。 1. 中共中央、国务院印发《关于实施自由贸易试验区提升战略的意见》。 2. 央行等部门：探索上海黄金交易所特定品种交割国际化，设置境外交收库。 3. 4月共118款国产网游、9款进口网游获批。 4. 京东与美团外卖大战升级，先后发文抨击对方。 5. 国务院国资委：推动央企强化资金统筹，确保及时付款。 6. 中保协：当 ...

首席点评： 3 月 LPR 维持不变 国家领导人在云南考察时强调，要以科技创新为引领做强做优做大资源型产业，积极发展战略性新兴产 业和未来产业。要高质量建设自由贸易试验区，加强交通物流、能源、数字信息等大通道建设。中国 3 月 LPR 出炉， 1 年期 LPR 为 3.1% ， 5 年期以上 LPR 为 3.6% ，连续 5 个月维持不变，符合预期。业 内专家普遍认为，展望后续，政策性降息仍需相机抉择，结构性降息和降准有望优先落地， LPR 下调 时点或后移。国家能源局公布，截至 2 月底，全国累计发电装机容量 34 亿千瓦，同比增长 14.5% 。其 中，太阳能发电装机容量 9.3 亿千瓦，同比增长 42.9% ；风电装机容量 5.3 亿千瓦，同比增长 17.6% 。 重点品种： 尿素、原油、集运 尿素： 尿素期货继续上涨。现货方面，山东地区尿素市场继续上涨，小颗粒主流出厂成交 1810- 1850 元 / 吨。临沂市场一手贸易商出货参考价格 1860-1870 元 / 吨附近，菏泽市场参考价格 1830- 1840 元 / 吨附近。消息方面，受河北、陕西等装置检修及故障影响，本周尿素开工率自高位小幅回 落 ...