Group 1 - Huazhu Group responded to the incident involving a blood-stained HIV test kit found in a hotel wash bag, stating that they have taken serious action against the involved employee and are cooperating with police investigations [3] - Yuxin Technology announced that it has submitted an application for the issuance of overseas listed shares (H shares) and listing on the Hong Kong Stock Exchange [1] - Shanjin International plans to issue H shares and list on the Hong Kong Stock Exchange, with the board authorizing management to initiate preparatory work for the issuance [2] Group 2 - Deloitte's report predicts a 14% year-on-year increase in the number of IPOs and financing amounts in the A-share market for the first half of 2025, estimating 50 new stocks and a total financing of 371 billion yuan [6] - Audi has reversed its previous plan to stop developing internal combustion engine vehicles by 2033, with no new timeline set for this transition [8] - Intel has appointed new engineering executives from major tech companies like Apple and Google to strengthen customer relations as part of its business revitalization plan [8] Group 3 - The European Court's legal advisor recommended rejecting Google's appeal regarding a 4.1 billion euro antitrust fine, which stems from Google's abuse of its dominant position in the mobile search market [9] - The Swiss National Bank has lowered interest rates to zero, raising concerns about a potential return to negative interest rates [11] - The Chinese Ministry of Commerce announced it will expedite the review of export license applications related to rare earths, emphasizing the importance of maintaining global supply chain stability [11]

Investment Rating - The industry rating is "Outperform the Market" [7] Core Insights - Huawei's nova 14 series and Harmony OS computer product launch event is scheduled for May 19, 2025, marking it as one of the most significant events for Huawei in 2025 [3] - Apple's first foldable iPhone is expected to be released in the fall of 2026, alongside the iPhone 18 Pro series, with a projected global shipment of 3.8 million foldable smartphones in Q4 2024, a year-on-year decline of 18% [4] - Huawei holds a 31.2% market share in the foldable smartphone segment, while Samsung's market share has decreased to 26.7% [4] Summary by Sections Product Launches - Huawei's upcoming launch includes the nova 14 series and a new Harmony OS computer, potentially the first foldable PC from Huawei [3] Market Trends - The foldable smartphone market is experiencing a decline, with a significant drop in shipments, but Apple's entry is expected to revitalize the market due to its strong brand and integration capabilities [4] Investment Opportunities - Suggested areas for investment include 3D printing applications (e.g., Huazhu High-Tech, Plittech), automated assembly equipment (e.g., Bozhong Precision, Kuaike Intelligent), and automated testing equipment (e.g., Oatmeal Technology, Jepter) [5]

Market Sentiment - The current market sentiment score is 87, indicating an "overheated" market condition. Historical trends suggest that when sentiment is below or near 30, the market finds support, while above 90, resistance is likely to occur [6][10]. Hot Themes Tracking - **Robotics Theme**: During the recent holiday, exoskeleton robots gained popularity in mountainous tourist areas, reducing physical exertion by 20%-40%. Related companies include Weisi Medical (688580) and Jinggong Technology (002006) [7]. - **Big Data Theme**: The State Council has approved a draft for a data-sharing regulation aimed at breaking down data barriers and enhancing public services. Key companies in this sector are Aofei Data (300738) and Inspur Information (000977) [7]. - **Apple Supply Chain Theme**: Reports indicate that Apple's first foldable iPhone is expected to launch in Fall 2026, impacting the product release schedule. Related companies include Lingyi Technology (002600) and Changying Precision (300115) [7]. Capital Flow Analysis - The top ten stocks with the highest net inflow include Dongfang Caifu (300059) with a net inflow of 134,142.46 million, and Zhonghang Chengfei (302132) with 106,038.11 million [11][12]. - The top ten stocks with the highest net outflow include Gongxiao Daji (000564) with a net outflow of -30,063.10 million, and Runhe Software (300339) with -29,332.32 million [13][23]. Industry Insights - The top ten industries with the highest net inflow include Electric Equipment (SW) with 299,840 million and Defense Industry (SW) with 267,288 million [17]. - The top ten industries with the highest net outflow include Agriculture, Forestry, Animal Husbandry, and Fishery (SW) with -73,792 million and Retail (SW) with -28,707 million [18].

Core Viewpoint - Apple is set to launch its first foldable iPhone, addressing long-standing issues in the foldable smartphone market, particularly focusing on minimizing screen creases and enhancing hinge quality [3][5][27]. Group 1: Product Strategy - Apple plans to adjust its iPhone release strategy, alternating between low-end and high-end models, with the foldable iPhone expected to debut alongside the iPhone 18 Pro series in late 2026 [3][27]. - The foldable iPhone is positioned as a high-end device, aiming to differentiate itself from competitors by focusing on two main features: nearly invisible screen creases and superior hinge quality [5][6]. Group 2: Screen Technology - The foldable iPhone will utilize advanced technology to ensure that screen creases are nearly imperceptible when unfolded, enhancing both visual appeal and user experience [8][12]. - A proprietary polymer design is expected to fill gaps between the flexible screen and hinge, contributing to a smoother surface and increased durability [9][10]. - The device will feature Ultra-Thin Glass (UTG) supplied by Chinese manufacturer Lens Technology, which is recognized as the current best solution for foldable screens [11]. Group 3: Hinge Design - The hinge design of the foldable iPhone is expected to be more robust, utilizing a unique structure that enhances flexibility and durability [13][18]. - The hinge will be made from a combination of titanium alloy and stainless steel, balancing lightweight properties with strength and durability [15][18]. Group 4: Design and Specifications - The foldable iPhone will adopt a book-style folding design, featuring an external display size similar to standard smartphones and an internal display close to 7.8 inches [19][21]. - The device's thickness will range from 9mm to 9.5mm when folded, and 4.5mm when unfolded, potentially making it one of Apple's thinnest devices [22]. - It is rumored to include a Touch ID power button instead of Face ID due to space constraints, and will feature dual rear cameras and a front camera [24]. Group 5: Market Context - The foldable smartphone market has seen a significant slowdown, with growth rates dropping from over 40% annually since 2019 to just 5% in 2024, raising concerns about Apple's timing in entering this segment [29]. - Analysts predict the foldable iPhone will be priced between $2100 and $2300, positioning it against high-end models like the Pro Max, despite cheaper alternatives available in the market [30].

Group 1 - The report indicates that the current market sentiment score is 91, categorizing it as "overheated," suggesting a high level of investor optimism and potential market resistance at this level [6][11][23] - The report highlights three key investment themes: robotics, rare earths, and the Apple supply chain, each showing significant market interest and potential for growth [7][8][9] - In the robotics sector, exoskeleton robots are gaining popularity for outdoor activities, reducing physical exertion by 20%-40%, with related companies including Weisi Medical and Jinggong Technology [7] - The rare earth metals market has seen prices surge, particularly dysprosium, which has doubled to $850 per kilogram following China's export controls, with companies like Northern Rare Earth and Shenghe Resources being key players [7] - The Apple supply chain is preparing for the launch of the first foldable iPhone in 2026, impacting product release schedules and involving companies such as Lingyi Technology and Changying Precision [7] Group 2 - The report provides a detailed analysis of net capital inflows and outflows for various stocks, indicating strong investor interest in companies like Yanshan Technology and Hainan Huate, with net inflows exceeding 76 million [12][13] - It also lists the top ten industries by net capital inflow, with the computer and electronics sectors leading, suggesting a favorable investment climate in these areas [18][20] - The report emphasizes the importance of monitoring market sentiment and capital flows to identify potential investment opportunities and risks in the current market environment [11][24]

Core Insights - Apple is set to enter the foldable smartphone market with its first model, the iPhone Fold, expected to launch in the fall of 2026, marking a significant shift in the smartphone landscape after a decade of anticipation [1][4][12] Product Launch Strategy - The standard iPhone 18 will be delayed to spring 2027 to prioritize the launch of the iPhone Fold, making the 2026 fall event a dedicated showcase for foldable technology [2][5] - The iPhone Fold will be released alongside the iPhone 18 Pro series and Air series, creating a powerful product lineup [2][4] Technical Specifications - The iPhone Fold will feature a thickness of only 4.5mm when unfolded, which is 13% thinner than the iPad Pro, and will have an 8-inch display while folded [6] - The device will utilize a titanium alloy frame and liquid metal hinge, designed to withstand 200,000 folds, addressing durability concerns associated with foldable screens [6] - The internal display will be a 7.76-inch "true full-screen" with a resolution of 2713×1920, while the external display will be 5.49 inches with a hidden Face ID feature [8] Pricing and Market Positioning - The starting price for the iPhone Fold is projected to be between $2100 and $2300, targeting high-end business users rather than competing in the mass market [8] - Approximately 35% of current iPhone users are reportedly interested in foldable technology, indicating a strong potential market for the iPhone Fold [8] Supply Chain and Production - Apple has secured an exclusive supply agreement with Samsung Display for 200,000 foldable screens per month, ensuring a steady supply for the iPhone Fold [9] - The use of ultra-thin glass (30 microns thick) from Lens Technology is expected to enhance durability, as it can withstand a 2-meter drop test [9] Market Impact and Future Projections - Analysts predict that the iPhone Fold could achieve first-year sales of over 8 million units, capturing 30% of the high-end smartphone market [11] - A second-generation foldable device, featuring a glass Unibody design, is anticipated for release in 2027, potentially revolutionizing smartphone materials [11]

Group 1 - Trump authorized a 100% tariff on movies made abroad to attract the film industry back to the US [3] - Taobao's flash purchase service surpassed 10 million orders within 6 days of launch, significantly boosting delivery services [5][6] - National retail and catering sales during the May Day holiday increased by 6.3% year-on-year, with strong demand for trade-in programs [5][7] Group 2 - Xiaomi's Lei Jun transitioned from executive director to director, with the company expanding its business scope [7] - Major retail sectors, including home appliances and automobiles, saw sales growth of 15.5% and 13.7% respectively during the holiday [7][6] - WeChat payment usage increased by 10% during the May Day holiday, with the restaurant sector seeing a 12.3% rise [10] Group 3 - Waymo's autonomous taxi was stopped by police in Tokyo, highlighting the ongoing human oversight in its testing phase [10] - Microsoft announced the discontinuation of Skype, urging users to migrate to Microsoft Teams [12] - Volvo's NOVO Energy plans to cut nearly 50% of its workforce due to restructuring after a partner's bankruptcy [14] Group 4 - OpenAI is transitioning its for-profit entity to a public benefit corporation to better align with its mission [16] - Skechers agreed to be acquired by 3G Capital for $63 per share, with the deal expected to close in Q3 [16] - Saudi low-cost airline Flynas is preparing for an IPO, aiming to sell 30% of its shares [16][17] Group 5 - The May Day box office reached 740 million, with top films generating significant revenue [21] - Ctrip reported a 130% increase in inbound travel orders during the May Day holiday, indicating a strong recovery in the tourism sector [21][22] - High-star hotel bookings in county areas surged by 80% during the holiday, reflecting changing travel preferences [22]

Group 1 - Apple's first foldable iPhone is expected to launch in the fall of 2026 alongside the iPhone 18 Pro series and "Air" series models, while the standard iPhone 18 will be delayed to spring 2027 [1] - The introduction of foldable phones will require Apple to replan its product release schedule to ensure efficient management and marketing of its product line [1] - The integration of AI technology into foldable smartphones is anticipated to enhance user experience and improve work efficiency and quality of life for consumers [1] Group 2 - Lianyi Zhizao is a leading precision manufacturing company in China, with key clients including Apple, Huawei, and Samsung, playing a significant role in Apple's supply chain, especially in the foldable screen technology sector [2] - Changying Precision is a high-tech enterprise focused on precision manufacturing, becoming a core participant in Apple's foldable screen supply chain, benefiting from technological upgrades and market expansion brought by Apple's entry [2] - Both companies are expected to strengthen their competitive positions through advanced materials and technologies such as titanium alloys and UTG [2]