Group 1: Ningde Times IPO - Ningde Times' dark market price has increased by over 9% to 284 HKD ahead of its IPO, leading to a market valuation of 1.3 trillion HKD, ranking it eighth in the Hong Kong stock market [1] - The IPO price is set at 263 HKD, with no significant discount compared to its A-share price, and the company aims to raise 5 billion USD, primarily subscribed by major institutions [1] - The public offering has seen a subscription rate exceeding 120 times, with over 280 billion HKD in funds raised [1] Group 2: Xiaomi's New Product Launch - Xiaomi will hold a strategic product launch on Thursday, introducing the Xiaomi Xuanjie O1 chip, Xiaomi 15S Pro, Xiaomi Pad 7 Ultra, and its first SUV YU7 [2] - The Xuanjie project has seen over 13.5 billion CNY in R&D investment, with a team of over 2,500 people, and an expected R&D expenditure of over 6 billion CNY this year [2] - The Xuanjie O1 chip utilizes second-generation 3nm technology and aims to compete in the flagship experience tier, also being used in other Xiaomi products [2] Group 3: Tesla's Dojo Supercomputer - Tesla plans to launch its second-generation Dojo supercomputer cluster (D2) in 2026, featuring self-developed cloud training chips that are more efficient and cost-effective than the first generation [3] - The performance of the D2 is expected to still lag behind similar products from Nvidia, with a third-generation Dojo planned for 2028 to further close the performance gap [3] - The first-generation Dojo was introduced in 2021, designed with ASIC chips to provide performance and cost advantages over Nvidia's offerings [3] Group 4: Google Search Redefinition - Google CEO Sundar Pichai stated that the company is redefining the search experience to become more predictive and personalized, transitioning from merely responding to user queries [4] - The integration of AI is expected to drive significant advancements in the search domain, with Pichai emphasizing that challenges only arise when viewed as such [4] Group 5: Nvidia's AI Supercomputer Production - Nvidia has announced the mass production of the world's smallest AI supercomputer, DGX Spark, which will be ready in a few weeks [5] Group 6: AI Computing Demand Surge - With the explosion of generative AI applications, there is a significant increase in demand for localized computing power, with predictions that global AI inference computing demand will exceed training computing demand by more than three times by 2025 [6] - The introduction of DGX Spark allows small and medium enterprises and individual developers to access supercomputing capabilities at consumer-level costs, lowering the barriers to AI innovation [6] Group 7: Apple and Alibaba AI Collaboration Scrutiny - Apple is seeking to collaborate with Alibaba to enhance the Apple Intelligence feature for iPhones in China, but this plan is under scrutiny from the White House and Congress due to concerns about boosting Chinese AI capabilities [7] Group 8: Walmart Price Increase Controversy - Walmart announced price increases for its products due to thin retail margins and rising tariffs, which has drawn criticism from former President Trump, who argues that Walmart should absorb the costs [8] Group 9: China's Consumer Spending Growth - In April, China's consumer spending rose by 5.1% year-on-year, with retail sales excluding automobiles increasing by 5.6% [9] - Key sectors leading the growth include communication equipment (+19.9%), furniture (+26.9%), and home appliances (+38.8%) [9] Group 10: Leap Motor's Financial Performance - Leap Motor reported a revenue of 10.02 billion CNY in Q1, a year-on-year increase of 187.1%, with a gross margin of 14.9%, up 16.3 percentage points [10] - The company attributes the gross margin increase to sales growth, cost control, and product structure optimization [10] Group 11: Nvidia and Mercedes-Benz Collaboration - Nvidia is collaborating with Mercedes-Benz to launch a fleet of autonomous vehicles using Nvidia's end-to-end technology, with plans to roll out globally this year [11] - Nvidia's role remains as a technology provider rather than directly operating the autonomous fleet [11] Group 12: Huawei's New Product Launch - Huawei has launched its first HarmonyOS foldable laptop, MateBook Fold, which features an 18-inch display when unfolded and weighs only 1.16 kg [12] - The MateBook Pro starts at 7,999 CNY, while the MateBook Fold is priced from 23,999 CNY [12] Group 13: EU Economic Growth Forecast Revision - The EU has revised its economic growth forecast for this year down to 1.1% from 1.5%, and for next year to 1.5% from 1.8% [13] - The report suggests that easing trade tensions with the US or accelerating trade growth with other countries could support economic growth [13] Group 14: US Debt Concerns and Treasury Yield Increase - Concerns over US debt have led to a sell-off in US assets, with Moody's downgrading the US credit rating, predicting a federal deficit that could reach nearly 9% of GDP by 2035 [14] - The 10-year Treasury yield rose to 4.52%, and the 30-year yield reached 5.00%, indicating a decline in bond prices [14] Group 15: Kweichow Moutai Dividend Announcement - Kweichow Moutai announced a cash dividend of 34.671 billion CNY for shareholders, with a reduction compared to last year's total of 38.786 billion CNY [15] - The company aims for a revenue growth target of 9% this year, following a 15.66% increase last year [16]

Core Viewpoint - Huawei has launched its first HarmonyOS-based PCs, including the MateBook Fold, MateBook Pro, and the commercial MateBook HM940, marking a significant step in expanding the HarmonyOS ecosystem beyond mobile devices [1][3]. Group 1: Product Launch and Features - The MateBook Fold is priced starting at 23,999 yuan, the MateBook Pro at 7,999 yuan, while the price for the HM940 has not been disclosed [1]. - The MateBook Fold features an 18-inch display when fully opened, weighs 1.16 kg, and has a thickness of 7.3 mm when unfolded [5]. - The MateBook Pro weighs 970 g and has a thickness of 13.5 mm, showcasing a lightweight design [5]. - The HM940 is tailored for commercial use, focusing on security and includes features like real-time transcription and summarization for meetings [5]. Group 2: Development and Ecosystem - The development of HarmonyOS for PCs involved over five years of work by thousands of engineers across more than 20 research institutes [3]. - HarmonyOS aims to unify the user experience across devices, allowing seamless interaction between Huawei smartphones, tablets, and PCs [3]. - The new PCs have achieved compatibility with over 1,100 peripheral devices and have adapted more than 150 dedicated applications for various use cases [6]. Group 3: Market Position and Challenges - As of April 2025, Windows holds a market share of 71.06%, while macOS and Linux hold 15.64% and 4.27% respectively, indicating a challenging environment for HarmonyOS as a new entrant [7]. - The company aims to reach a target of 100,000 applications in the HarmonyOS ecosystem by 2025 to meet consumer demands [8]. - The upcoming sales of the new PCs will coincide with the traditional peak season for consumer electronics, which will be crucial for their market performance [8].