GMT EIGHT - OPPORTUNITIES IN CHINA

US Stock Market Move | Income guidance for 2026 lower than expected BioNTech (BNTX.US) plunges more than 20%

On Tuesday, BioNTech (BNTX.US) plunged more than 20% at the opening, marking the biggest drop since April 25th, and is currently trading at $80.20.

US Stock Market Move | First quarterly profit achieved, NIO Inc. Sponsored ADR Class A (NIO.US) increases by 10%.

On Tuesday, Nio (NIO.US) extended gains to 10%, closing at $5.45.

Due to safety concerns, the Ruwais refinery in the UAE has been shut down after a drone attack.

In 2025, NIO-SW (09866) achieved a total income of 87.4875 billion yuan, an increase of 33.1% year-on-year.

NIO-SW (09866) announced that in the fourth quarter of 2025, the automotive sales revenue was RMB 31.6062 billion (USD 4.5196 billion), an increase of 80.9% compared to the fourth quarter of 2024 and an increase of 64.6% compared to the third quarter of 2025. The total revenue was RMB 34.6502 billion (USD 4.9549 billion), an increase of 75.9% compared to the fourth quarter of 2024 and an increase of 59.0% compared to the third quarter of 2025. Gross profit was RMB 6.0741 billion (USD 0.8686 billion), an increase of 163.1% compared to the fourth quarter of 2024 and an increase of 100.8% compared to the third quarter of 2025.

Today's net outflow of funds southbound amounted to HK$ 17.953 billion.

Regarding the Hong Kong Stock Connect (Shanghai), Tencent Holdings and Alibaba-W received net purchases of 2.923 billion Hong Kong dollars and 699 million Hong Kong dollars respectively; Ying Fu Fund had the highest net selling amount at 11.144 billion Hong Kong dollars. In terms of the Hong Kong Stock Connect (Shenzhen), Tencent Holdings and Alibaba-W received net purchases of 725 million Hong Kong dollars and 633 million Hong Kong dollars respectively; Ying Fu Fund had the highest net selling amount at 2.412 billion Hong Kong dollars.

Wuling Motors (00305) announces that it is expected that the shareholders' net profit for the year 2025 will increase by approximately 54% year-on-year.

Wuling Motors (00305) issued an announcement, expecting that the Group will achieve a net profit of approximately RMB 170 million for the year ending December 31, 2025, an increase of about 53% compared to the previous year; and that the company will achieve a profit attributable to owners of approximately RMB 78 million for the year 2025, an increase of about 54% compared to the previous year.

Saudi Aramco CEO: It is expected that global oil demand will reach a record daily 107.3 million barrels by 2026.

The adjustment of the previous period's energy-related crude oil and low-sulfur fuel oil futures contracts, and the limits on price fluctuations and trading margins ratios.

Announcement from the Energy Exchange: Starting from the closing settlement on March 10, 2026, the adjusted daily price limit and trading margin ratios for the following contracts will be as follows: Crude oil futures contracts SC2604, SC2605, SC2606, SC2607, SC2608, SC2609, SC2610, SC2611, SC2612, and subsequent new contracts will have a daily price limit of 20%, with a margin ratio of 21% for hedged positions and 22% for non-hedged positions. Low sulfur fuel oil futures contracts LU2604, LU2605, LU2606, LU2607, LU2608, LU2609, LU2610, and subsequent new contracts will also have a daily price limit of 20%, with a margin ratio of 21% for hedged positions and 22% for non-hedged positions.

Jiangsu: By 2030, cultivate no less than 30 typical application scenarios of "brain-machine interface + consumption".

Jiangsu Provincial Department of Industry and Information Technology and nine other departments issued the "Jiangsu Province Brain-Computer Interface Industry Innovation and Development Action Plan". Among them, it is suggested to cultivate life and consumption application scenarios. Encourage companies to accelerate the integration of brain-computer interfaces with smart Internet of Things, virtual reality, embodied intelligence, and other technologies, innovate non-invasive brain-computer interface product forms such as patch-style, headset-style, ear patch-style, and hairclip-style. Integrate multimodal data such as brain electrical signals, brain infrared light, and electromyographic signals, develop intelligent, lightweight, wearable products and innovative application service solutions, accelerate application exploration and scenario cultivation in areas such as health care, traffic safety, education and training, sports training, entertainment games, and smart homes. Support eligible regions in building product experience and demonstration centers, and strengthen the promotion of brain-computer interface innovative product experiences through public welfare activities such as popular science promotion and health surveys. By 2030, cultivate at least 30 typical application scenarios of "brain-computer interface + consumption".

From HBM locks to endless demand for DRAM and NAND, Micron's "golden moment" is still ongoing.

The rapid rise in prices of DRAM/NAND series storage products is reshaping the long-term contract norms of the global storage industry, especially as the GPU/TPU systems become increasingly dependent on HBM, DRAM, and enterprise-grade SSDs, leading to long-term supply-demand imbalance.

Zhengzhou Commodity Exchange Announces Adjustments to Margin Requirements and Daily Price Limits for Some Futures Contracts Trading.

According to Zhengzhou Commodity Exchange, starting from the settlement on March 10, 2026, the trading margin standards for PTA futures contracts 2604 and 2605 are adjusted to 12%, and the daily price limit is adjusted to 10%; the trading margin standards for PTA futures contracts 2606, 2607, 2608, and 2609 are adjusted to 11%, and the daily price limit is adjusted to 9%; the trading margin standards for short fiber futures contracts 2604 and 2605 are adjusted to 12%, and the daily price limit is adjusted to 10%; starting from the settlement on March 11, 2026, the trading margin standards for PTA futures contracts 2604 and 2605 are adjusted to 15%, and the daily price limit is adjusted to 13%; the trading margin standards for PTA futures contracts 2606, 2607, 2608, and 2609 are adjusted to 13%, and the daily price limit is adjusted to 11%; the trading margin standards for short fiber futures contracts 2604 and 2605 are adjusted to 14%, and the daily price limit is adjusted to 12%; the trading margin standards for short fiber futures contracts 2606, 2607, 2608, and 2609 are adjusted to 13%, and the daily price limit is adjusted to 11%; the trading margin standards for xylene futures contracts 2604 and 2605 are adjusted to 15%, and the daily price limit is adjusted to 13%.

Hang Seng Index rises more than 2%, now trading at 25918.721 points; Hang Seng Tech Index is up 2.151% now.

TSMC's sales in the first two months of this year reached NT$718.91 billion, a year-on-year increase of 29.9%.

According to reports, Quest Global is expected to invite banks to participate in a $1 billion IPO roadshow.

According to sources familiar with the matter, Quest Global Services Pt, supported by the Keire Group, has begun discussions with investment banks about the possibility of conducting an initial public offering in Mumbai, with the potential to raise up to $1 billion. Sources revealed that this Singapore-based engineering services company has been in talks with bankers in recent weeks and is expected to hire advisors soon. As the discussions are being conducted privately, these sources have requested anonymity.

Reviewing the past 50 years of oil price shocks: Now for the market, only two things are most important!

Based on historical experience, the most critical issues in the current global market can be summarized in two points: How long will the oil price shock last? How will the Federal Reserve and other central banks respond?

General Administration of Customs: China's goods trade import and export increased by 18.3% year-on-year in the first 2 months.

On March 10, the General Administration of Customs announced that according to customs statistics, the total value of China's goods trade imports and exports in the first two months of 2026 was 7.73 trillion yuan, an increase of 18.3% year-on-year.

A good start! The growth rate of China's foreign trade has returned to double digits, reaching 18.3%.

The General Administration of Customs released data on March 10, showing that in the first two months of 2026, the total value of China's import and export of goods was 7.73 trillion yuan, with a year-on-year growth rate returning to double digits at 18.3%. Among them, exports were 4.62 trillion yuan, an increase of 19.2% year-on-year; imports were 3.11 trillion yuan, an increase of 17.1% year-on-year. Overall, in the first two months, China's foreign trade continued to show progress and resilience, with its resilience and vitality further highlighted.

Hong Kong's Hang Seng Index opened higher by 1.31%, the State-owned Enterprise Index rose by 1.11%, the Hang Seng Technology Index opened higher by 2%, and Ningde Times surged by 5.96%.

Japanese finance minister: G7 energy ministers will hold an online meeting tonight.

Japanese Finance Minister Katsunobu Kato stated that after the meeting of G7 finance ministers yesterday, G7 energy ministers will hold an online meeting tonight to discuss how to address concerns regarding energy supply. Kato mentioned that after the closure of the Strait of Hormuz caused oil prices to soar, Japan is still considering whether additional energy price relief measures are needed. The G7 has shown coordination in dealing with the surge in oil prices, and communication among members helps in lowering crude oil prices. The finance ministers also discussed the issue of expanding sources of resources.

"Lobster" explosion caused service instability? Tencent apologizes: Already fixed.

Today, Tencent CodeBuddy issued an apology statement, stating that the login and service instability issues caused by the surge in traffic have been fixed. Currently, the service has been fully restored and stabilized, and you can log in and use all functions normally. Tencent stated that this failure was caused by the unexpected increase in user traffic after the public testing of WorkBuddy in China, leading to a momentary overload of core services. We deeply apologize for any inconvenience this may have caused you. After the failure occurred, the technical team urgently expanded capacity by 10 times. We sincerely thank each user for their enthusiastic support and patience. For all new and existing users of the domestic version, we will provide a one-time gift of 5000 Credits before 3/31/2026. Previously, Tencent's all-scenario AI intelligent body WorkBuddy officially launched, with over 20 Skills skill packages and MCP agreements built in. WorkBuddy's domestic version can seamlessly switch between Hunyuan, DeepSeek, GLM, Kimi, and MiniMax.

Oracle Corporation (ORCL.US) Pre-performance Barclays reaffirms "Hold" rating: AI revenue may slightly exceed expectations, but gross margin and EPS may face pressure.

Barclays maintained its "overweight" rating on Oracle ahead of the upcoming financial report, but lowered the target price by 26% from $310 to $230.

Media: White House is preparing to issue an executive order to remove the artificial intelligence of Anthropic.

According to the U.S. media Axios, the White House is preparing to issue an executive order instructing the federal government to stop using Anthropic's artificial intelligence products in its operations. Court documents show that Anthropic's chief financial officer stated that the U.S. government's actions could result in a decrease of billions of dollars in revenue for Anthropic's entire business by 2026. Anthropic filed a lawsuit on Monday seeking to prevent the Pentagon from including them on a national security blacklist, escalating a high-stakes battle with the U.S. military over restrictions on its technology use. Anthropic claims in the lawsuit that this designation is unlawful and violates its freedom of speech and due process rights. Anthropic has filed a lawsuit in a federal court in California, asking the judge to revoke the designation and to prevent federal agencies from enforcing it.

Even if the IEA releases oil reserves, it would be like a drop in the ocean, Trump faces a dilemma of whether to "fill up" or "release"

Using the oil reserves may not necessarily alleviate the price impact of the Iran war.

The conflict in Iran may increase the trade of liquefied natural gas passing through the Panama Canal.

Ricaurte Vasquez, head of the Panama Canal Authority, stated in an interview that ongoing conflicts in Iran could lead to Asian energy buyers seeking alternative sources of liquefied natural gas, thus increasing traffic through the Panama Canal. He mentioned that if the Middle East conflict persists, Asian countries may turn to U.S. LNG suppliers to replace Qatar. He also mentioned that U.S. shipping companies may take advantage of the Panama Canal to shorten routes to Asia, offsetting rising fuel costs. He said, "In the short term, the Asian market must find alternative sources to Qatar's LNG supply, depending on how long this conflict lasts. We should benefit from this, and we have the capability to do so, as we have enough waterways for ship transit." Currently, the canal handles about 34 vessels per day, with the capacity to increase to 38 to meet the additional demand from LNG transporters. He also mentioned that the canal authority will launch a $1.6 billion LNG pipeline project tender next month, which is expected to be operational by 2031.

Trump calls for military action against Iran to end quickly, financial markets shaken, oil prices plummet.

President Trump stated on Monday that the military actions against Iran by the United States may soon come to an end.

EU officials: ready to use strategic oil reserves

On March 9th, local time, the Eurogroup meeting was held in Brussels, Belgium. At the press conference after the meeting, Eurogroup President Pierre Gacis said that they are closely monitoring the market's response to the developments in the Middle East, "We see that energy prices are facing upward pressure." He stated that the meeting that day discussed the types of measures member countries are considering, as well as the necessity of maintaining coordinated action while closely monitoring local situations. Additionally, they examined structural issues regarding European energy. European Commissioner for Economic Affairs Dombrovskis stated at the press conference that it is too early to discuss specific policy measures in response to the Middle East situation. He also mentioned that they are prepared to take necessary actions, including using strategic oil reserves.

Trump says the war is basically over.

According to a post by the Columbia Broadcasting System's White House correspondent on social media on the afternoon of March 9th local time, President Trump reportedly said in a phone interview that the war may soon be coming to an end. Trump was quoted as saying, "I think the war is basically over, almost. They have no navy, no communication system, and no air force." Trump also reportedly said that the progress is much faster than the initial estimated timeframe of 4 to 5 weeks. The reporter also mentioned that when asked about Iran's newly appointed Supreme Leader Ebrahim Raisi, Trump said, "I have nothing to say about him, nothing at all." Trump claimed that there is already a replacement for Raisi in mind, but did not provide further details.

WTI crude oil fell below $83 per barrel, dropping 8.69% intraday.

The G7 is ready to take action to support global energy supplies and may release strategic oil reserves if necessary.

The Group of Seven (G7) has made new progress in addressing energy supply risks.

Oil price surge impact energy market G7 has not yet reached consensus on joint release of strategic oil reserves

At the time when the war in Iran has caused severe turbulence in the global energy market, the Group of Seven (G7) is closely monitoring the situation, but has not yet reached a consensus on jointly releasing strategic oil reserves.

Contemporary Amperex Technology (03750) announced that its net profit attributable to shareholders in 2025 is approximately 72.201 billion yuan, a year-on-year increase of 42.28%. A dividend of 69.57 yuan will be paid for every 10 shares.

Ningde era (03750) announced its performance in 2025, with operating income of approximately 423.702 billion RMB, a year-on-year increase of 17.04%; net profit attributable to shareholders of the listed company was approximately 72.201 billion RMB, a year-on-year increase of 42.28%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was approximately 64.508 billion RMB, a year-on-year increase of 43.37%; basic earnings per share was 16.14 RMB, and a cash dividend of 69.57 RMB per 10 shares is proposed (including tax).

Did Russian oil come to save the market? The Black Sea port resumed loading and the soaring oil prices welcomed a "cooling valve".

Unexpected variables in the Hormuz Storm: Russia's resumption of exports combined with the US exemption deal. This has relaxed the "stagflation" logic that had heavily impacted the stock market.

US Stock Market Move | OpenClaw's popularity is rising, KINGSOFT CLOUD (KC.US) surges more than 15% in early trading.

On Monday, Kingsoft Cloud (KC.US) surged by more than 15% in early trading, reaching $13.80 per share.

Geopolitical conflicts trigger a rise in international oil prices, with major oil companies increasing their oil price expectations. "Three major oil companies" profit forecasts and target prices have risen in unison.

Driven by the strong rise in oil prices, many international major banks have raised their profit forecasts and target prices for the "big three oil companies", making the energy sector the focus of the market in an instant.

The leading indicator of economic conditions looks promising: Contemporary Amperex Technology (03750) contract liabilities exceed 49.2 billion yuan, an increase of 77%.

CATL's 2025 annual report released by Ningde Times shows that the company's revenue has returned to a growth track, with total revenue reaching 423.7 billion yuan, an increase of 17% year-on-year; net profit attributable to shareholders increased by 42% to 72.2 billion yuan, and the unit profit ability further strengthened.

Brent crude oil fell below $104 per barrel, up 12.10% on the day.

Net inflow of funds from the south reached HKD 35 billion.

The VIX volatility index rose by 5.53 points to 35.02, hitting a new high since April 2025.

Multiple places announced a reduction in parking fees: lowering the starting price, extending the free parking period, making short-term parking more cost-effective.

Since 2026, many places have successively announced a reduction in public parking lot and road parking fees. One change is the reduction in the fee standards: for the first type of government-invested public parking lot, the starting price for the first hour has been reduced from 5 yuan for the first 2 hours to 3 yuan for the first hour; for the core second class and peripheral area of the fifth type of road temporary parking spaces, the starting price for the first hour has been reduced by 1 yuan. In terms of renewal duration, the billing duration has been shortened, from 1 hour to 30 minutes and from 30 minutes to 15 minutes, making the billing method more precise and reasonable. Another change is the expansion of the free range: first, extending the free duration. The one-year trial promotion has been solidified as a policy outcome, specifying that all public interest institutions in the third category can park for free for up to 2 hours in supporting parking lots. Second, expanding the free range. Roadside parking is free at night; during major holidays such as the Spring Festival, May Day, and National Day, the first type of public parking lots and the fifth type of road temporary parking spaces are open for free.

Oil prices close to $120! War causes Middle East to fall into oversupply reduced production, crude oil expands gains, gold falls.

The Iran war forced further cuts in oil production, causing oil prices to soar to around $120.

National Bureau of Statistics: In February, the year-on-year decline in PPI narrowed by 0.9%, a decrease of 0.5 percentage points from the previous month.

In February 2026, the national industrial producer prices fell by 0.9% year-on-year, a decrease of 0.5 percentage points from the previous month; on a month-on-month basis, they increased by 0.4%, the same as the previous month.

National Bureau of Statistics: In February, the year-on-year increase in the CPI was 1.3%, and the month-on-month increase was 1.0%.

In February 2026, the national consumer price index rose by 1.3% year-on-year.

National Bureau of Statistics: In February 2026, the national consumer price index rose by 1.3% year-on-year.

The Nikkei 225 index opened at 54,608.63 points in the morning, a decrease of 1.82%.

Crude oil breaks $100, US stock futures plummet, and VIX panic index surges! Analysts warn: the worst time for the market has not yet arrived.

The flames of war are raging, spot oil prices break through $110, and US stock index futures are falling.

Mujeetaba elected as the new supreme leader of Iran.

According to CCTV news, on the 9th local time, Hossein Khamenei, the son of Ali Khamenei, was elected as the new supreme leader of Iran.

Goldman Sachs: Middle East tension unresolved, speculators bet heavily on US stock market correction

Goldman Sachs said that hedge funds have increased their short positions on US stocks amidst the battle.

NVIDIA's new chips may adopt Samsung or Hynix's HBM4 technology.

NVIDIA plans to use Samsung and Hynix's HMB4 memory technology in its new Vera Rubin chip.

Oil tanks filled, oil tankers shut down, multiple countries forced to reduce production! The oil price skyrocketed by 20% at the opening, breaking through $110.

With key waterways almost completely closed, more major oil-producing countries cutting production, and the United States threatening to deepen the conflict that has already disrupted the energy market, the international price of oil has soared to over $110 per barrel.

"Energy nuclear bomb" completely detonated! Goldman Sachs: may soar to $150 this month, impact far beyond Russia-Ukraine conflict.

Brent crude oil surged 20% to $111.04 per barrel at the opening, while West Texas Intermediate crude oil rose 22%. Due to the continued closure of the Strait of Hormuz, storage quickly filled up, leading the United Arab Emirates and Kuwait to start reducing production, and Iraq began halting production last week.

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Rio Tinto Group announced that its Lithium Lincon project in Salta Province, Argentina has produced the first batch of lithium carbonate and completed its commercial shipment. This marks the official launch of exports from the project.

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Hang Seng futures night trading closed up 0.01%, at 25913.00 points, down 46.90 points.

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Movement in US dollar bonds | KWG Property Holdings Ltd. KWGPRO 7.4 01/13/27 saw a price increase of 1.572% to 5.433.

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Amazon plans to issue bonds to raise at least $37 billion, potentially becoming one of the largest corporate bond offerings in history.

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The US Treasury Department states that halfway through tax season, the average tax refund amount has exceeded $3,700.

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