GMT EIGHT - OPPORTUNITIES IN CHINA

A-share Evening Hotspots | Yushu Technology's Sci-Tech Innovation Board IPO will be reviewed on June 1, and multiple stock announcements suggest risks.

Only slightly over two months after the acceptance of the IPO, Yushu Technology Co., Ltd. will face the panel on June 1st, bringing the company one step closer to becoming the first listed company specialized in humanoid robots in the A-share market.

Website development company Wix (WIX.US) struggles to survive in the AI boom! After a financial report disaster, they announce a 20% layoff.

Website development company Wix.com is preparing to lay off about 1,000 positions in the next few months, accounting for approximately 20% of its total workforce. This will be the largest round of layoffs in the company's history.

Anthropic co-founder Ora: AI may "substitute on a massive scale" human labor, calls for enhanced external oversight.

Chris Orwa, co-founder of Anthropic, stated on Monday that the development of artificial intelligence should not be solely controlled by technology companies, and called for religious leaders, governments, and civil society to strengthen oversight.

Core categories stable + emerging businesses booming UBS Group AG sings praises for Best Buy Co., Inc. (BBY.US) ahead of the performance.

UBS gives Best Buy a "buy" rating with a target price of $85.

Roche (RHHBY.US) plans to include MASH new drug in breakthrough therapy

On May 25th, the CDE website shows that Roche's Pegozafermin is intended to be included in breakthrough therapy for treating metabolic dysfunction-related non-alcoholic steatohepatitis (MASH).

European stock market revival completes the final puzzle: Italy's stock market hits a record high! AI chips and energy stocks drive the market.

The Italian stock market hit a new 26-year high, with the energy and semiconductor sectors leading the gains.

BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US) quietly withdraws decarbonization project from Western Australia iron ore business, climate strategy facing "reality check"

Internal documents report that BHP, the world's largest mining giant, is significantly backtracking on its key decarbonization project in the iron ore business in Western Australia, slowing down its climate strategy that was once seen as a long-term growth core.

New stock news | Inner Mongolia Xingye Silver&Tin Mining (000426.SZ) submitted documents to the Hong Kong Stock Exchange, becoming the largest silver company in Asia.

The company currently holds mineral resources of approximately 656.1 million tons, including 33,600 tons of silver metal resources, ranking first in Asia and seventh in the world, and 444,600 tons of tin metal resources, ranking second domestically.

Huge losses weigh heavily as VinFast (VFS.US) founder's son steps in as chairman amid lawsuit in the US.

The change in management at VinFast comes at a time when the car manufacturer is trying to curb losses.

Selected A-share announcement | Montage Technology (688008.SH) fifth largest shareholder intends to transfer 12.228 million shares, and has obtained full subscription from 20 institutional investors.

Lanqi Technology announced that based on the inquiry and subscription situation on May 25, 2026, the preliminary determined transfer price for this inquiry is 250.08 yuan per share. The shareholder participating in this inquiry transfer is the fifth largest shareholder of Lanqi Technology, holding 37.906 million shares, accounting for 3.10% of the total share capital.

Yu Tree Technology: The company's non-GAAP net profit after deduction for the first quarter of 2026 decreased from 84.83 million yuan in the same period of the previous year to 40.25 million yuan, a year-on-year decrease of 52.55%.

Yushu Technology Co., Ltd. mentioned in the reply letter of the opinions of the review center of the application for the first public offering of stocks and listing on the Sci-Tech Innovation Board that during the reporting period, the company achieved operating income of 423 million yuan in the first quarter of 2026, with a year-on-year growth rate falling from 332.64% in the previous year to 68.49%. At the same time, due to a significant increase in period expenses such as research and development expenses and selling expenses, the non-GAAP net profit decreased from 84.8365 million yuan in the same period of the previous year to 40.2536 million yuan, a year-on-year decrease of 52.55%. The company also expects that the operating income in the first half of 2026 will be approximately 1.052 billion yuan to 1.128 billion yuan, with a year-on-year growth rate of approximately 35.62% to 45.41%. Due to the rapid increase in period expenses such as research and development investments, the non-GAAP net profit is expected to be approximately 236 million yuan to 283 million yuan, a decrease of approximately 21.97% to 6.43% compared to the same period of the previous year, and the year-on-year decrease in the first quarter of 2026 will be significantly reduced.

AMC Entertainment Holdings, Inc. Class A (AMC.US) will broadcast the World Cup live in American theaters to deepen its "event cinema" strategy.

AMC seeks to leverage the World Cup to further expand into the field of live sports event broadcasting.

New Stock News | Jinlong Electric Motors submits application to Hong Kong Stock Exchange, focusing on permanent magnet synchronous motors and three-phase induction motors.

According to the Hong Kong Stock Exchange disclosed on May 25, Zhejiang Jinlong Electric Motor Co., Ltd. submitted its listing application to the main board of the Hong Kong Stock Exchange, with Rui Jin Capital as the exclusive sponsor.

Is the Iran-US agreement "just a step away"? Oil prices plummeted by 5% on the news, but there are still "one to two" disagreements between the two sides.

The United States and Iran are gradually nearing an agreement to extend the ceasefire and reopen the Strait of Hormuz, but officials from both sides have stated that several terms still need further negotiation.

New stock news | Second-hand mobile phone recycling leader Flashback Technology filed IPO application with Hong Kong Stock Exchange, continuous losses await breakthrough.

According to the disclosure by the Hong Kong Stock Exchange on May 25th, Flashback Technology Limited (referred to as "Flashback Technology") has submitted an application to list on the main board of the Hong Kong Stock Exchange, with China Renaissance Capital as its exclusive sponsor.

New Stock News | Inner Mongolia Xingye Silver&Tin Mining (000426.SZ) Submits Application to Hong Kong Stock Exchange

According to the disclosure by the Hong Kong Stock Exchange on May 25th, Inner Mongolia Xingye Mining Co., Ltd. (referred to as Xingye Mining, 000426.SZ) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor.

Climate regulations will harm competitiveness? Canada Energy Minister said: tar sands companies have the ability to bear the cost of carbon capture projects.

Canadian Energy Minister Tim Hodgson said he is "highly confident" that Alberta's oil sands companies have the ability to bear the costs of building carbon capture projects, despite these companies protesting that Canada's climate regulations are weakening their global competitiveness.

According to the Hong Kong Stock Exchange document, Inner Mongolia Xingye Mining Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange.

"Not issuing new bonds to supplement the budget "bill": Japanese Prime Minister Koizumi soothes the bond market, relying on tax revenue surplus to free up space for issuing bonds"

Japanese Prime Minister Sanae Takaichi said on Monday that the government will not increase the size of government bond issuance according to the calendar year to supplement budget financing, in order to alleviate market concerns about fiscal discipline.

Iran military action boosts inflation + political crisis suppresses lira, Turkey's interest rate hike expectations rise in June.

Investors are increasing their bets that the Central Bank of Turkey will raise interest rates, as rising energy costs are keeping inflation high and political crises are putting pressure on the lira.

New stock news | Yanwen Logistics submits application to Hong Kong Stock Exchange, ranking second among third-party B2C cross-border e-commerce logistics service providers in China.

According to Frost & Sullivan's data, based on the revenue derived from cross-border e-commerce courier services by 2025, Yanwen Express ranks second among third-party B2C cross-border e-commerce logistics service providers in China, with a market share of 1.8%.

New Stock News | Flashback Technology Files Fourth Submission to Hong Kong Stock Exchange

According to the disclosure on May 25 by the Hong Kong Stock Exchange, Flashback Technology Limited (hereinafter referred to as "Flashback Technology") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Clearwater Capital as its exclusive sponsor.

Wang Yi meets with Pakistan's Chief of Army Staff and Chief of Army Staff Munir

On May 25, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, met with General Munir, Commander of the Pakistan Armed Forces and Chief of Army Staff, in Beijing. Wang Yi welcomed General Munir and Prime Minister Shabaz's joint visit to China, stating that this year marks the 75th anniversary of the establishment of diplomatic relations between China and Pakistan. "The strong wind tests the sturdy grass, and the fierce fire reveals the true gold." Despite changes in the international and regional situation, the friendship between China and Pakistan remains as solid as a rock and unbreakable. The two countries have maintained a high level of political mutual trust, practical cooperation, and international collaboration, setting an example for state-to-state relations. The Pakistani military has always been an important force in promoting cooperation between China and Pakistan, and General Munir believes they will make new contributions to deepening the traditional friendship and building a community of shared destiny between China and Pakistan. General Munir expressed that the ironclad friendship between Pakistan and China has grown deeper over time, and Pakistan is proud of this relationship. In recent years, China's international status and influence have been increasing, and President Xi Jinping's proposals of the Four Great Initiatives and the Belt and Road Initiative have played a crucial role in promoting world peace and development, receiving wide acclaim from the international community. Pakistan firmly supports and actively participates in these initiatives. The Pakistani military will continue to promote the construction of the China-Pakistan Economic Corridor and the community of shared destiny between China and Pakistan. General Munir also briefed on the latest developments in mediating the US-Iran conflict, stating that an agreement is nearing completion, and Pakistan is willing to continue to make efforts while hoping for further support from China. Wang Yi stated that Pakistan is a trustworthy and qualified mediator appreciated and supported by China for their efforts. Although peace may be difficult, it will eventually come.

New stock news | Jinlong Motor submits application to the Hong Kong Stock Exchange.

According to the disclosure by the Hong Kong Stock Exchange on May 25th, Zhejiang Jinlong Electric Motors Co., Ltd. has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with JP Morgan as the exclusive sponsor.

According to the documents of the Hong Kong Stock Exchange: Flashback Technology Limited has submitted an application for listing to the Hong Kong Stock Exchange.

New stock news | Yanwen Logistics submits application to Hong Kong Stock Exchange

According to the disclosure by the Hong Kong Stock Exchange on May 25th, Yanwen Logistics Limited (referred to as "Yanwen Logistics") has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with Shenwan Hongyuan (HK) Limited as its exclusive sponsor.

According to the Hong Kong Stock Exchange documents: Zhejiang Jinlong Electric Motors Co., Ltd. has submitted an application for listing to the Hong Kong Stock Exchange.

Tether's "sovereign currency tokenization" strategy takes another step: teaming up with the Georgian government to launch the official stablecoin "GEL".

Tether and the Georgian government will jointly launch the official stablecoin of Georgia.

As interest rate hike expectations rise, BlackRock openly "sings a different tune": Labor market pressures are mounting and under Powell, the Fed has sufficient reasons to cut interest rates.

Global asset management giant BlackRock has put forward a viewpoint that goes against the current market consensus, suggesting that under the leadership of the new Federal Reserve Chairman Kevin Walsh, the Fed may have sufficient reason to choose to cut interest rates instead of raising them.

By 2026, the total cumulative passenger flow through Macau has exceeded 100 million people.

The authorities pointed out that various departments will launch multiple projects within the year to continuously optimize customs clearance environment, improve inspection processes, and increase the scope of application.

Framework agreement reached 95%, new developments in negotiations between the US and Iran.

Fox News channel reported on the 24th, citing a US official, that the framework agreement between the US and Iran is currently "95% reached". The two sides have reached an agreement on the "nuclear stockpile" in Iran and the issue of the Strait of Hormuz, and are currently negotiating the "wording".

Huang Renxun visits TSMC founder Zhang Zhongmou.

According to reports, NVIDIA CEO Huang Renxun arrived at Taipei Songshan Airport in China on the afternoon of May 23, much earlier than the originally expected date of the 27th. Last night, Huang Renxun visited the founder of TSMC, Zhang Zhongmou, and was personally greeted by Zhang Zhongmou's wife, Zhang Shufen. After a meal and a chat for nearly three hours, Huang Renxun headed straight to Raohe Night Market, where he enjoyed pepper cakes and chicken leg wraps. Huang Renxun said, "Zhang Zhongmou is doing very well recently, we had a great dinner and talked about all sorts of things." Regarding this trip, Huang Renxun revealed, "I will be visiting many of our partners, hoping to see Lin Baili, and on Tuesday night I will go visit Wei Zhejia."

Zhu Senhua, Director of the Huawei Cloud AI Algorithm Innovation Lab, has started a business, betting on brain-like intelligence and embodied models.

Embodied intelligence startup MindRock has successfully completed a new round of financing worth hundreds of millions. This round of financing is led by industrial capital, with existing shareholders and multiple funds participating in reinvestment and follow-up investment. Multi-Dimensional Capital serves as the exclusive financial advisor. The company stated that the funds from this round will be mainly used for core technology research and development, team expansion, and scenario validation.

Uber Technologies, Inc. (UBER.US) faces obstacles in its acquisition! Delivery Hero rejects the offer, causing the stock price to soar 10% and surpass the bid.

Delivery Hero's stock price soared, with investors betting that its acquisition offer will increase.

The hot trend of bank IPOs in the US stock market continues, with regional bank First Carolina (FCBM.US) making a push to list on the NYSE.

Last Friday, First Carolina Financial Services submitted its initial public offering (IPO) application to the Securities and Exchange Commission (SEC), planning to raise up to $100 million in funds.

US-Iran talks bring a ray of hope to boost market sentiment, European stocks rise to more than a two-month high.

Boosted by positive signals of Iran and the United States negotiating an end to the conflict, European stock markets opened higher on Monday, reaching their highest levels in over two months.

Ministry of Commerce: The total retail sales of consumer goods increased by 1.9% from January to April, showing a stable operation of the consumer market and a trend towards new and superior development.

From January to April, with the deepening implementation of the special action to boost consumption, policies such as trading in old products for new ones, prize-winning invoices, and tax refunds for departing passengers continue to show results. The consumer market is showing stable operation and a trend towards new and better development.

Two departments: The target price for Xinjiang cotton from 2026 to 2028 is 18600 yuan per ton.

On May 25th, the National Development and Reform Commission and the Ministry of Finance issued a notice on the target price policy for cotton for the years 2026-2028.

Two departments: The target price for Xinjiang cotton from 2026 to 2028 is 18,600 yuan per ton.

The National Development and Reform Commission and the Ministry of Finance have issued a notice regarding the cotton target price policy for the years 2026-2028. 1. Maintain the stability of the target price level and fixed subsidy production. In accordance with the principle of production cost plus reasonable profit, considering factors such as the needs of the cotton industry, market supply and demand, and fiscal capability, the target price for cotton in Xinjiang from 2026-2028 is set at 18,600 yuan per ton. In case of major changes in the cotton market situation, adjustments will be made promptly upon approval from the State Council. Taking into account the recent cotton production situation in Xinjiang, as well as the local water and arable land resources, subsidies will be provided for a fixed production volume of 5.1 million tons of cotton. 2. Improve specific implementation measures. Firstly, focus on maintaining a reasonable scale of cotton planting, optimizing production layout, gradually guiding non-advantageous regions to withdraw from planting, and orderly reducing planting in advantageous regions based on the situation of groundwater over-extraction. Secondly, optimize the use of subsidy funds, improve the subsidy mechanism for high-quality cotton, and ensure that subsidy funds are distributed to cotton farmers. Thirdly, continue to implement the policy of enterprises issuing primary agricultural product purchase invoices, improve the subsidy withdrawal mechanism, and meet the direct sales of lint cotton by cotton farmers. Fourthly, explore and improve the standards for identifying high-quality cotton, actively guide cotton farmers and processing enterprises to further improve quality awareness.

Significant increase in investment just before US IPO: Japanese recycling company Seahawk (SEAH.US) increased its offering size by 67% on the eve of its IPO, aiming to raise $31 million.

Japanese paper and scrap metal recycling service provider Seahawk Recycling Holdings (SEAH.US) raised the planned issuance size of its upcoming initial public offering (IPO) last Friday.

Ministry of Finance: Total lottery sales in China in April amounted to 54.073 billion yuan, a year-on-year decrease of 6.4%.

On May 25th, the Ministry of Finance released the national lottery sales situation for April 2026.

Financial report outlook | "Dual Engine" Resonance of AI ASIC and Optical Interconnection May Consolidate Marvell Technology, Inc. (MRVL.US) Strong Gains in Q1 Financial Report.

According to Wall Street forecasts, Micron Technology's first-quarter revenue is expected to increase by 26% year-on-year to $2.4 billion, with adjusted earnings per share expected to increase by 21% year-on-year to $0.77. The data center business is expected to remain the main driver of growth for the company in the first quarter.

Bitcoin miner Coolbit Technologies (CBAI.US) sets IPO pricing at $4-5, aiming to raise up to $23 million.

Bitcoin miner Coolbit Technologies has submitted a $23 million initial public offering (IPO) application in the United States.

Hong Kong insurance company Kepler Group (KPL.US) once again successfully listed on Nasdaq with the fundraising scale increased by 400%.

The Kepler Group has resubmitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC).

"Twice in two months, Softbank accelerates issuing 260 billion yen in bonds by 'begging money from retail investors', highlighting the pressure of AI 'eating gold'."

SoftBank Group disclosed on Monday that it plans to raise 260 billion Japanese yen (approximately 1.6 billion US dollars) by issuing subordinated bonds, mainly targeting individual investors in Japan.

Central Plains Commercial Shops: It is expected that the Hong Kong commercial leasing market will stabilize and improve in May.

Chung Yuen (commercial properties) is expected to remain stable in the leasing market in May, driven by the gradual stabilization of the economy and financial industries. Commercial properties in the core area of Hong Kong Island have geographical advantages, resilience, and trends that are expected to be more advantageous than emerging supply areas such as East Kowloon, with vacancy rates expected to decline.

Wall Street debates the storage chip "super bull market": Riding on AI "crossing the cycle", or the last madness before the recession cycle?

Experts warn: In the artificial intelligence boom, the cyclicality of memory stocks cannot be ignored.

Outlook on Financial Statements: Revenue Expected to Increase by Over 30%, but Could Fail to Hide $1.3 Billion Loss: Snowflake (SNOW.US) Q1 Financial Statements May Fall into a "Growth Delusion" Trap.

Cloud data platform provider Snowflake (SNOW.US) will release its first quarter financial report for the 2027 fiscal year on May 27, 2026. After a difficult start to the year, the company's stock price has recently shown a mild recovery.

Financial Report Preview | The Lingering Shadow of "AI Disruption"! After a halving of its stock price, Salesforce, Inc. (CRM.US) faces a major financial report test.

S&P Global (CRM.US) will announce its first quarter results for the 2027 fiscal year after the U.S. stock market closes on Wednesday.

Samsung Electronics' non-chip division union seeks injunction to block wage agreement vote.

According to reports, the non-chip division union of Samsung Electronics is seeking an injunction to block the vote on the salary agreement. According to Xinhua News Agency, the Samsung Electronics union began an electronic vote on a temporary salary agreement on May 22. As planned, the electronic voting will continue until 10 a.m. on May 27, with an estimated participation of about 89,000 union members. If more than half of the total number of members participate in the vote and the majority of voters support the agreement, the agreement will be officially enforced; otherwise, both labor and management will need to resume negotiations.

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The WTI crude oil fell below $90 per barrel for the first time since May 7th.

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Silver continuous main contract rose 2% intraday, now at 19158.00 yuan.

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Market information: After the US-Iran agreement, all countries' ships will be able to navigate freely and safely, as they did before the actual blockade.

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The Shanghai crude oil continuous main contract fell 4% intraday and is now trading at 596.80 yuan.

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