GMT EIGHT - OPPORTUNITIES IN CHINA

IFBH(06603) clarifies: IF brand's 100% coconut water contains no added external sugar, external water, or artificial flavorings.

IFBH (06603) issued a statement to notify the company's shareholders and potential investors that the Board of Directors has noticed recent media reports alleging that IF-branded 100% coconut water contains added external sugars and water (such allegations).

The private credit market in the United States has been hit by another bombshell! BlackRock, Inc. (BLK.US) has written off another loan, valuing it at zero.

Blackrock lowered the valuation of a private loan from 100% face value directly to zero, while just three months ago the loan was still assessed at face value. This marks the second sudden "zeroing out" case that the private credit department has recently experienced.

An ideal will release a wheeled robot this year.

According to multiple sources, it has been learned that the company Ideal will release a dual-wheel robot within the year, primarily intended for factory manufacturing scenarios. It is known that Ideal's humanoid robot team has been in existence since April 2025 and has been secretly developing for nearly a year. The team's internal codename is Nexus, led by former Ninebot Intelligent hardware partner He Junpei, with fewer than 30 members reporting to CEO Ma Donghui. The team's project is classified as top secret and is not shown on the company's organizational chart, with other departments unaware of its progress. It has been revealed that Ideal Motors under the humanoid robot team has planned two products: a dual-wheel robot and a bipedal robot. The dual-wheel robot product is currently ready and is expected to be released in mid-year, primarily for factory manufacturing scenarios. "Ideal's approach to robotics is also inspired by Tesla, focusing on iterating technology capabilities in closed environments before gradually targeting consumer groups," a source familiar with the matter told us. (21 Caijing)

China Cosco Shipping suspends bookings for multiple routes, listed companies collectively respond to impact on business.

Regional conflicts have already had a substantial impact on the operations of some shipping companies. On the evening of March 4th, China Ocean Shipping Group announced that due to the escalating conflict in the Middle East, traffic in the Strait of Hormuz has been restricted. As of today, all new booking services on routes to the UAE, Qatar, Bahrain, Iraq, Saudi Arabia, Kuwait, and other related routes have been suspended. In response to this business adjustment, reporters contacted the four listed companies under China Ocean Shipping Group as investors. All companies said that their production and operations are currently normal, and the impact on financial data is still being observed. A senior expert in the shipping industry told reporters that at present, routes to the Middle East are severely blocked, "all routes to the Middle East have been suspended, and some vessels en route have even turned around". The expert also stated that the industry is currently in a wait-and-see state, "whether to spend a high price to send to a port far from the destination for complex transshipment, or to wait a bit longer, maybe the route will be restored". The prices of oil and war surcharges on relevant routes are currently increasing, and the pricing model has changed to "each customer negotiates individually".

XD Inc (02400) announces joy in profit, expecting a net profit of not less than 15.8 billion yuan in 2025, an increase of about 77.4% year-on-year.

Heartbeat Company (02400) announced that the group expects to achieve revenue of no less than RMB 5.71 billion for the year ending December 31, 2025, an increase of approximately 13.9% from the revenue of approximately RMB 5.0121 billion for the year ending December 31, 2024; and expects to achieve a net profit of no less than RMB 1.58 billion for the year ending December 31, 2025, an increase of approximately 77.4% from the net profit of approximately RMB 0.8905 billion for the year ending December 31, 2024.

BYD second-generation blade battery charges 70% in 5 minutes.

At tonight's BYD 2nd Generation Blade and Flash Charging Technology launch event, BYD officially released the second generation blade battery. It only takes five minutes to charge from 10% to 70% and only nine minutes to charge from 10% to 97%.

HUTCHMED (00013) released its annual performance with a net profit attributable to shareholders of $457 million USD, representing a year-on-year growth of 1111.03%.

Heyuan Pharmaceutical (00013) announced its full-year performance for 2025, with a total revenue of 549 million US dollars, a decrease of 12.96% year-on-year; net profit attributable to shareholders was 457 million US dollars, an increase of 1111.03% year-on-year; basic earnings per share were 0.53 US dollars.

Preview: State Council Information Office Holds Briefing on March 7 to Interpret the Outline of the "Fifteenth Five-Year Plan"

The State Council Information Office will hold a press conference at 3:00 pm on March 7, 2026, with Vice Chairman of the National Development and Reform Commission, Zheng Bei, interpreting the outline of the "14th Five-Year Plan" and answering questions from reporters.

JD-SW (09618) released its annual performance, with a net profit attributable to shareholders of 19.6 billion yuan and a final dividend of 0.5 US dollars per share.

JD.com Group-SW (09618) released its fourth quarter and full-year performance for 2025. In 2025, JD.com Group achieved a total revenue of 1.3091 trillion yuan, an increase of 13.0% compared to the previous year. The operating profit was 2.8 billion yuan, and the net profit attributable to ordinary shareholders was 19.6 billion yuan. The diluted earnings per ADS were 12.90 yuan. The company plans to distribute a cash dividend of 0.5 US dollars per ordinary share, or 1.0 US dollars per ADS.

AUTOHOME-S (02518) releases annual performance with a net profit of 1.443 billion yuan attributable to shareholders, and announces a $200 million stock buyback plan.

Autohome-S (02518) announced that in the fourth quarter of 2025, the group achieved a net income of 1.462 billion yuan; the net profit attributable to Autohome was approximately 234 million yuan; the adjusted net profit attributable to Autohome was approximately 304 million yuan; and the basic earnings per share was 0.48 yuan.

BILIBILI-W (09626) releases annual performance, with adjusted net profit of 2.59 billion yuan, turning a loss into a profit year-on-year.

Bilibili-W (09626) released its financial performance for the year 2025, with the group achieving a total net revenue of 30.35 billion yuan (same unit), an increase of 13% compared to the previous year. The net profit was 1.19 billion yuan, compared to a net loss of 1.36 billion yuan in the same period last year. Adjusted net profit was 2.59 billion yuan, compared to an adjusted net loss of 39 million yuan in the same period last year. Basic earnings per share were 2.85 yuan.

The economic-themed press conference will be held at 3:00 p.m. on March 6th.

The fourth session of the 14th National People's Congress will hold a press conference at 3:00 p.m. on March 6, 2026, in the Meiya Center Press Conference Hall, inviting director of the National Development and Reform Commission Zheng Zhajie, Minister of Finance Lan Fo'an, Minister of Commerce Wang Wentao, Governor of the People's Bank of China Pan Gongsheng, and Chairman of the China Securities Regulatory Commission Wu Qing to answer questions from Chinese and foreign journalists on issues related to development and reform, fiscal budget, commerce, finance, and securities.

Chairman of the China Securities Regulatory Commission (CSRC) Wu Qing: Tomorrow's response to issues related to capital market reforms and development.

On the afternoon of March 5th, the Chairman of the China Securities Regulatory Commission, Wu Qing, visited the residence of the Hong Kong delegation and listened to the opinions of the Hong Kong delegation at the plenary meeting. Prior to the meeting, when asked by a reporter from Shanghai Securities News about the consideration of relevant work to increase the proportion of equity financing, he said, "There will be a meeting tomorrow where we will report to you." According to the agenda information released by the "NPC Conference News Center" WeChat public account, on the afternoon of March 6th, there will be a national two sessions economic theme press conference.

Google DeepMind extends an olive branch to a thousand Ask me anything (AMA) participants.

After Alibaba approved the resignation application of Lin Junyang, the core person in charge of Thousand Whys, on the afternoon of March 5th, Omar Sanseviero, the relevant person in charge of Google DeepMind development team, called out to the Thousand Whys team on social media platforms.

The situation in Iran has reversed the flow of funds: investors are shifting from "buying into Asia" to "escaping back to the United States".

The trading pattern of "selling America and buying Asia" has reached a crucial turning point.

Cui Dongshu: Disruptions in the Middle Eastern market will not change the overall trend of growth in Chinese automobile exports.

Chenglian Branch Cui Dongshu stated in an article that in recent years, the overall growth trend of China's automobile exports has remained strong, and the regional pattern of automobile exports has been optimized in stages. The Middle East, Africa, and Oceania have jointly become the core driving force for export growth. Although there have been continuous conflicts in the Middle East in recent years, with escalating conflicts between Israel and neighboring countries, China has achieved steady growth in car exports to the Middle East by relying on regional market dividends. In terms of export structure, new energy layout, and market competition, development characteristics that adapt to local demands have been formed, and car companies have also completed the transition from product export to brand deepening. The current situation in Iran is complex, and although the disruption of logistics in the Strait of Hormuz brings short-term cost pressures, I believe that it is difficult to shake China's core advantage in the supply chain. I believe that the diversified response measures of car companies can achieve better results than other international car companies. I still maintain an optimistic outlook on exports, and the short-term disturbances in the Middle East market have not changed the overall trend of China's automobile exports' growth.

Magic Atom founder and CEO Wu Changzheng resigns to start a business.

According to informed sources, Wu Changzheng, the founder and former CEO of the humanoid robot company Magic Atom, has resigned from the company and has now started his own business. In response to this news, Magic Atom stated to reporters that they have not received this information. As of March 5th, Wu Changzheng still holds the positions of legal representative, director, and manager of Magic Atom Robot Technology Company, as well as legal representative, chairman, director, and manager of Magic Workshop Company. Insiders said, "The humanoid robot industry has bid farewell to the early stages of rapid growth. 2026 is considered a critical year for industry selection and elimination, and many companies lacking core competitiveness will face market consolidation, making it significantly more difficult to start over."

The main contract of the Eurex combined shipping line on the previous installment turned green.

The main Euro shipping contract on the Shanghai Futures Exchange turned green in the previous period, reporting 1813 points, rising more than 19% at one point.

Spot silver fell 3% intraday, now trading at $80.92 per ounce.

Hang Seng Technology Index fell more than 1%, now trading at 4780.990 points; Hang Seng Index is up 0.144% now.

Spot silver fell below $82 per ounce, dropping 2.02% intraday.

Caustic soda continuous main contract rose by 7% intraday, now reported at 2274.00 yuan.

In January 2026, the National Energy Administration issued 196 million green certificates, involving 832,000 renewable energy power generation projects.

In January 2026, the National Energy Administration issued 196 million green certificates, involving 832,000 renewable energy generation projects. Among them, 151 million green certificates were tradeable, accounting for 76.79%. The green certificates corresponding to the renewable energy generation in December 2025 were 152 million, accounting for 77.49%.

The trading volume of the Shanghai and Shenzhen stock markets exceeded 1 trillion yuan, a decrease of 42.9 billion yuan compared to the previous day at this time.

DRAM and NAND team up for a crazy ride! Storage chips become the hottest commodity of the AI era. Micron (MU.US) and SanDisk (SNDK.US) embrace the "AI super bonus".

Storage chips have become the "absolute C-position" in the AI super wave, no less competitive than NVIDIA's AI chips, and they are still one of the core supply bottlenecks that first appeared in this wave of imbalances in supply and demand, and first reflected pricing power.

HK Stock Market Move | Contemporary Amperex Technology (03750) opens nearly 5% higher and reaches a cooperation agreement with Rio Tinto to promote electrification applications in the mining operations field.

CATL (03750) opened high by nearly 5%, as of the time of writing, increased by 4.97%, and traded at 503 Hong Kong dollars, with a turnover of 1.04 billion Hong Kong dollars.

HK Stock Market Move | IFBH(06603) opened nearly 15% higher, company statement: Coconut water products do not contain added external sugar or external water.

IFBH (06603) opened nearly 15% higher, after a cumulative drop of over 20% in the stock price over the previous three trading days.

The golden age of AI ASIC is coming! The wave of reasoning is sweeping across the globe, with Broadcom Inc. (AVGO.US) unveiling a blueprint worth billions of dollars directly into NVIDIA Corporation's territory.

Broadcom announced better-than-expected quarterly results and future performance outlook, and also announced a stock buyback plan worth up to $10 billion. The company expects sales of its artificial intelligence chips to exceed $100 billion next year.

Unafraid of the pressure of a strong US dollar: Middle East conflicts trigger buying at lows, gold prices rebound against the trend.

On the fifth day of the ongoing Middle East war, market risks are high, with buying influx of gold at low levels leading to a slight increase in gold prices, recovering some of the losses from the previous trading day.

Overnight US stocks | The three major indexes rose, technology stocks and cryptocurrency concept stocks generally rose. Coinbase (COIN.US) rose more than 14.5%.

As of the close, the Dow Jones Industrial Average rose 238.14 points, or 0.49%, to 48739.41 points; the Nasdaq rose 290.79 points, or 1.29%, to 22807.48 points; the S&P 500 index rose 52.87 points, or 0.78%, to 6869.50 points.

Middle East conflict pushes global oil prices higher, Brent's premium over WTI rises to highest level in over two years.

The situation in the Middle East is rapidly escalating, impacting the global energy market. International oil prices have increased significantly. However, there is a clear differentiation in the price increases of different benchmark crude oils.

Broadcom's adjusted net revenue for the first quarter was $19.31 billion, slightly higher than analysts' expectations of $19.26 billion. Adjusted earnings per share for the first quarter were $2.05, exceeding analysts' expectations of $2.03. The company plans to implement a new stock buyback plan, with a maximum amount of $10 billion, which has been approved by the board of directors. Revenue for the second quarter is expected to be around $22 billion, higher than analysts' expectations of $20.53 billion.

On Wednesday, the US stock market closed with the Dow Jones Industrial Average preliminarily up 0.49%, the S&P 500 up 0.78%, and the Nasdaq up 1.29%. American Aluminum Corporation (AA.N) dropped 3.5%, Micron Technology (MU.O), Intel (INTC.O) and AMD (AMD.O) all rose more than 5%, and Nvidia (NVDA.O) rose more than 1%. The Nasdaq China Dragon Index rose 0.8%, and Nio Inc. (NIO.N) rose 5%.

The White House has announced that it has submitted the nomination of Kevin Warsh as the chairman of the Federal Reserve to the Senate.

Rental costs for super oil tankers on the US to Asia route have risen to a record high of $29 million.

The data from the Baltic Exchange shows that the cost of shipping 2 million barrels of crude oil from the United States to China has jumped to $29.09 million. This is equivalent to about $14.50 per barrel, close to 20% of the WTI futures price. This level sets a new record, surpassing the $26.91 million on Tuesday.

The US non-manufacturing PMI for February was 56.1, higher than the expected 53.5 and higher than the previous value of 53.8. The US non-manufacturing new orders index for February was 58.6, higher than the previous value of 53.1.

Wu Yongming appeared at the Q&A session on "changing leadership" and emphasized that Qwen is the "most important matter" for Alibaba.

Today, Lin Junyang, the core person in charge of Ali's Thousand Questions, announced his resignation from the Thousand Questions project, triggering widespread attention. Sina Technology learned from internal sources that in fact, as early as a month ago, Lin Junyang had begun preparing for his resignation. However, as of press time, Alibaba has not made any response to this news. According to informed sources, after Lin Junyang announced his resignation, an All Hands meeting was held internally at Alibaba for communication, with many people including Alibaba Chairman and CEO Wu Yongming, Alibaba Chief Talent Officer Jiang Fang, and Alibaba Cloud CTO Zhou Jingren responding in various ways. Wu Yongming attended the internal meeting and pointed out, "The situation in China is special, resources are hard to satisfy everyone, we apologize for not knowing about the resource issue earlier, and Qwen is the first priority, and the CEO of China has made the greatest effort." Regarding Lin Junyang's movements, it is rumored that Jiang Fang responded at the internal meeting that "the company cannot accept irrational demands to retain employees at all costs", but Alibaba has not given a final, definitive answer on whether Lin Junyang will stay or go.

The US Treasury Secretary announced that the US's 15% tariffs on global goods are expected to take effect this week.

On March 4th local time, U.S. Treasury Secretary Scott Benet expressed that the new 15% "global import tariff" is expected to officially take effect at some point this week. Benet stated that this new tariff rate was decided by U.S. President Trump last month. On February 20th, the U.S. Supreme Court ruled that the Trump administration lacked clear legal authorization for the large-scale tariff measures implemented under the International Emergency Economic Powers Act. That day, the Supreme Court Justices upheld the lower court ruling by a vote of 6-3, determining that Trump's use of the International Emergency Economic Powers Act to implement tariff policies exceeded his statutory authority. The Supreme Court reached this conclusion in lawsuits brought by businesses and 12 states in the U.S. These businesses and states believed that Trump's unilateral imposition of import taxes based on this law was unprecedented. After the ruling was announced, Trump announced on February 20th that he would instead impose a "global import tariff" of 10% for 150 days, replacing the tariffs deemed illegal by the Supreme Court, citing Section 122 of the Trade Act of 1974. Later on the 21st, U.S. President Trump announced on his social platform "True Social" that he would raise the import tariff rate from 10% to 15% for global goods.

The Ministry of Finance, along with two other departments, has released tax relief policies on imported exhibition goods sold during the period of international exhibitions held in the central and western regions during the "14th Five-Year Plan" period.

In order to support the successful organization of international exhibitions in the central and western regions, the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued the "Notice on Preferential Tax Policies for the Import Exhibition Goods Sold during the Exhibition Period of International Exhibitions in the Central and Western Regions during the 'Eleventh Five-Year Plan' Period". It specifies that for the China-Mongolia Expo, China-Russia Expo, China-Africa Economic and Trade Expo, China-ASEAN Expo, China-South Asia Expo and China Kunming Import and Export Commodity Fair, ChinaQinghai Green Development Investment and Trade Fair, China-Eurasia Expo held from 2026 to 2030, as well as the China-Northeast Asia Expo, China-Arab Countries Expo held from 2026 to 2027, each exhibitor can continue to enjoy exemption from import tariffs, import value-added tax, and consumption tax on imported exhibition goods within the tax-free quota during the exhibition period, and also expand the tax-free categories and tax-free sales quotas of each exhibition appropriately.

US Treasury Secretary Benson stated that in the coming days, Iran's ballistic missiles and shelters will be destroyed.

Southbound funds sold a net of 466 million Hong Kong dollars today.

In terms of the Shanghai-Hong Kong Stock Connect, Tencent Holdings and Changfei Optic Fiber Cable respectively received net purchases of HKD 7.91 billion and HKD 2.48 billion; Alibaba-W had the highest net sell amount, totaling HKD 16.38 billion. As for the Shenzhen-Hong Kong Stock Connect, Nanfang Hengsheng Technology and CNOOC received net purchases of HKD 9.44 billion and HKD 6.14 billion respectively; Alibaba-W had the highest net sell amount, totaling HKD 18.22 billion.

Hong Kong stocks closed: The Hang Seng Index fell 2.013%, while the Hang Seng Technology Index fell 0.964%.

Citigroup fell 3.811%, MTR Corporation fell 3.831%, China Life fell 3.928%, Johnson & Johnson Pharmaceuticals fell 4.087%, Cheung Kong Holdings fell 4.469%, WuXi AppTec fell 4.595%, and AIA Group fell 4.706%.

From the "Korean Wave" frenzy to the "cold wave" trampling! Oil prices skyrocket, overturning the South Korean stock market with the most severe drop since 2008.

Large-scale foreign capital outflow! Energy impacts severely hit the South Korean stock market. South Korean stocks face a rare historical panic selling, marking the largest two-day drop since 2008.

Goldman Sachs: The "three major long-term positives" of the US stock market are all collapsing, and Iran is exacerbating the trend.

Goldman Sachs analysts warn that the "three major pillars" supporting the strong rise in US stocks over the past year - AI dividends, cyclical recovery, and interest rate cut expectations - are facing the risk of total collapse. The energy surge triggered by the Middle East conflict has become the core catalyst. According to their calculations, a $10 increase in oil prices will weaken the US GDP by about 10 basis points. Against the backdrop of the S&P 500's high P/E ratio of 22 times, this will cause huge damage to valuations. If oil prices continue to rise, the US CPI in May is likely to return to 3.0%, which will kill the recent possibility of a rate cut by the Federal Reserve.

Stock market correction not over yet? Goldman Sachs CEO warns market has not truly priced in "cost of war"

Goldman Sachs CEO Solomon was surprised by the "mild" stock market reaction in the backdrop of war.

HK Stock Market Move | Oil stocks collectively drop as the three major oil companies collectively warn of risks. Trump says he will provide military escort and insurance for oil tankers.

Oil stocks collectively fell, as of the time of writing, CNOOC (02883) fell by 8.91% to HK$10.12; PetroChina (00857) fell by 4.41% to HK$9.97; Sinopec (00883) fell by 4.13% to HK$26.46; Sinopec (00386) fell by 3.68% to HK$5.24.

Spot silver broke through $85 per ounce, rising 3.71% intraday.

National Bureau of Statistics: China's manufacturing PMI in February was 49.0%, a decrease of 0.3 percentage points from the previous month.

On March 4th, the National Bureau of Statistics released the operating conditions of the China Purchasing Managers Index (PMI) for February 2026.

The three major stock indexes rebounded, with the Shenzhen Component Index and the ChiNext Index turning higher, while the Shanghai Composite Index is currently down by 0.84%.

The Shanghai Composite Index fell by 1.00% to 4081.354 points; the Shenzhen Component Index fell by 0.57% to 13942.926 points; the ChiNext Index fell by 0.84% to 3182.593 points.

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The US Secretary of the Interior said that various options for controlling oil prices are being considered.

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In the fiscal year 2025, GAP's Q4 net sales were $4.2 billion, a year-on-year increase of 2%; net profit was $171 million, with diluted earnings per share of $0.45.

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FTSE A50 futures fell 0.38% during the night session, closing at 14551 points.

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According to the Wall Street Journal, the foreign ministers of Arab countries will hold an emergency meeting on Sunday.

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The Dow fell by 1.61%, the Nasdaq dropped by 0.26%, and the S&P 500 fell by 0.56%. Among the top trading stocks, Nvidia rose by 0.16%, Tesla fell by 0.1%, Broadcom rose by 4.8%, and Microsoft rose by 1.35%.

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