GMT EIGHT - OPPORTUNITIES IN CHINA

Wanguo Gold GP (03939) announces its performance for 2025, with a net profit attributable to owners of approximately 1.355 billion yuan, an increase of 135.5% year-on-year. The final dividend is 10.1 cents per share.

The World Gold Group (03939) announced its performance in 2025, with revenue of about 3.161 billion yuan, a year-on-year increase of 68.5%; gross profit increased by 135.5% to about 2.348 billion yuan, and the net profit attributable to the company's owners was about 1.355 billion yuan, an increase of 135.5% year-on-year; basic earnings per share was 31.04 cents, and a final dividend of 10.1 cents per share is recommended.

Middle East conflict continues to escalate, Iran claims Persian Gulf energy facilities as target, Brent oil briefly rises above $108.

As the Middle East conflict continues to escalate, the global energy market is once again facing disruption.

CHINA BLUECHEM (03983) announced its performance for 2025, with a net profit attributable to owners of approximately 974 million yuan, a decrease of 9.04% compared to the previous year.

CNOOC Chemicals (03983) announced its performance in 2025, with sales revenue of approximately RMB 12.034 billion, a year-on-year increase of 0.7%; the company's attributable net profit is approximately RMB 974 million, a year-on-year decrease of 9.04%; earnings per share is RMB 0.21, and the proposed year-end dividend is RMB 0.112 per share.

BIODLINK-B (01875) released its annual performance, with a profit of 748 million yuan. The strategic transformation into a CDMO has achieved significant results.

Dongyang Pharmaceutical Group-B(01875) announced its annual performance for the year ending on December 31, 2025. The group achieved revenue of RMB 748 million (same unit), a decrease of 31.93% compared to the previous year. Research and development expenses were RMB 85.675 million, an increase of 8.02% year-on-year. The company's equity holders had a loss of approximately RMB 100 million, with a loss per share of 0.14 yuan.

US Stock Market Move | ZTO Express (Cayman), Inc. Sponsored ADR Class A (ZTO.US) rose 9% as the Board approved a $1.5 billion share buyback plan.

On Wednesday, ZTO Express (ZTO.US) rose by 9% to $25.87.

The U.S. February PPI monthly rate recorded a 0.7% increase, the largest since July 2025.

The U.S. February PPI annual rate recorded 3.4%, exceeding market expectations of 2.9% and reaching a new high since February of last year.

Tencent President Liu Chiping: AI investments will double this year at least.

Regarding Tencent's future investment in AI, Tencent President Liu Chiping said that Tencent invested 18 billion yuan in AI new products last year. This year, the investment will at least double. "Our core business is very solid and continues to grow, which can support increased investment."

Ma Huateng talks about "raising shrimp" for the first time publicly: can combine with the decentralized concept of WeChat.

On March 18, at the Tencent Holdings 2025 Performance Communication Meeting, Ma Huateng publicly talked about his thoughts on "raising shrimp" for the first time. He believes that the application of "lobster" can allow AI to land in various rich scenarios, not just completely focused on ChatBot as in the past. This can better utilize Tencent's resources, allow all fronts to join together, and also inspire the development of WeChat agents. Ma Huateng mentioned that mini-programs in the WeChat ecosystem have always been decentralized, and similar concepts can be integrated into future "lobster" applications. Service providers are particularly afraid of being short-circuited and channeled, so Tencent needs to consider this demand in its ecological design. He stated that in the future, Tencent's "raising shrimp" will combine centralization and decentralization. Agent partners hope to have their own traffic and entry points, but they also don't want to be simply invoked. "This is a longer-term consideration, everyone may need to be patient as this cannot be rushed."

Tencent's mixed reality new model HY 3.0 is ready to be released, currently undergoing internal business testing.

On the afternoon of March 18, Tencent revealed at a press conference after the financial report was released that HY 3.0 is currently undergoing internal business testing and is planned to be launched to the public in April. It is reported that this is a major upgrade of the hybrid model, with significant improvements compared to the HY2.0 version, with notable enhancements in reasoning and agent capabilities. Since the second half of 2025, Tencent has restructured teams and processes for the hybrid model, focusing on improving data quality and rebuilding infrastructure for pre-training and reinforcement learning, which will help to increase the speed of model iteration and create a pedestal model with higher intelligence levels.

Samsung Electronics labor union votes to go on strike.

The Samsung Electronics Union announced on the 18th that the vote results from the 9th of this month showed that the collective action proposal was approved by a 93.1% majority, leading to a total strike in May. It is reported that out of approximately 90,000 members of the three major Samsung Electronics unions, 66,019 members participated in the vote, with a voter turnout as high as 73.5%, and 61,456 people voted in favor. The union plans to hold a rally on April 23, demanding that management ensure that performance bonus distribution standards are transparent and open, abolish the performance bonus cap, and increase salaries by 7%, continuing the struggle until the total strike in May. If the total strike by the union proceeds, it will be the second strike by the Samsung Electronics union since July 2024, two years after the first strike, and the company's second strike since its establishment.

"Notice on the Confirmation of the Relationship between Insured, Policyholder, and Beneficiary by the Office of the People's Bank of China and the Office of the China Banking and Insurance Regulatory Commission" is abolished.

Notice from the General Office of the People's Bank of China and the General Office of the China Banking and Insurance Regulatory Commission on Matters Concerning the Confirmation of the Relationship between Insured, Policyholder, and Beneficiary is hereby abolished from the date of this announcement. Insurance companies are required to conduct due diligence on related matters in accordance with the relevant provisions of the "Measures for the Due Diligence of Financial Institution Customers and the Management of Customer Identity Information and Transaction Records".

Tencent Holdings: By 2025, the domestic market's gaming revenue will reach 164.2 billion yuan, a year-on-year increase of 18%.

Tencent Holdings announced its financial report, showing that the revenue of value-added services for the fiscal year ending on December 31, 2025 increased by 16% year-on-year to 369.3 billion yuan. Domestic market game revenue was 164.2 billion yuan, an 18% year-on-year growth, benefiting from the strong performance of the recently released "Delta Mission", as well as revenue growth of long-running games such as "Honor of Kings", "Game for Peace", and the "Fearless Contract" series. International market game revenue was 77.4 billion yuan, a 33% year-on-year growth, driven by revenue growth of games under Supercell and "PUBG MOBILE", as well as incremental revenue contribution from "Blade & Soul: Revolution". Social network revenue increased by 5% year-on-year to 127.7 billion yuan, due to the growth in revenue from video live streaming services, music subscription services, and the sale of virtual items in mobile game applications.

Tencent Holdings' fourth quarter revenue was 1943.7 billion yuan, slightly higher than the estimated 1940.7 billion yuan.

The unemployment rate in Hong Kong in February was 3.8%, down from the previous rate of 3.90% in the past three months.

Hong Kong Innovation and Technology Bureau: Accelerating the industrialization of artificial intelligence to create a healthy and orderly AI development ecosystem.

The Hong Kong government has appointed the board of directors of the research and development institute this month to lead the institute in completing personnel deployment as soon as possible, with the aim of fully operationalizing in the second half of this year to implement the above work to promote the safe use and ethics of AI.

Baidu Intelligent Cloud Announces Price Adjustment Notice for AI Computing Power, Storage, and Other Products

Baidu Intelligent Cloud today released a pricing adjustment notice for AI computing power, storage, and other products. Due to the rapid development of global artificial intelligence applications, the demand for computing power continues to rise. The cost of core hardware and related infrastructure has significantly increased. In order to ensure the long-term stability of the platform and service quality, prices of some products have been structurally optimized. Among them, AI computing power related products and services will be increased by about 5%-30%; parallel file storage and others will be increased by about 30%. The above prices will take effect from 00:00 on April 18, 2026.

Goldman Sachs is betting on the continued performance of US stocks in the long bull market! The style switch from cycles to AI leaders is about to happen.

Ben Snyder from Goldman Sachs says that the long-term trend of the S&P 500 index remains very healthy.

Polysilicon continuous main contract fell 5% intraday, now reported at 40155.00 yuan.

Brent crude oil fell below $97 per barrel, down 2.47% intraday.

GEELY AUTO (00175) releases annual performance results. Total revenue increased by 25% year-on-year, reaching 345.2 billion yuan, once again setting a new historical high.

Geely Automobile (00175) released its annual performance ending on December 31, 2025, with the group's revenue totaling 345.232 billion yuan, a year-on-year increase of 25%; the profit attributable to the owners of the parent company reached 16.852 billion yuan, a year-on-year increase of 0.24%; earnings per share were 1.67 yuan; it plans to distribute a final dividend of 0.5 Hong Kong dollars per share.

The ChiNext Index rose by 1.03% to 3313.970 points; the Shanghai Composite Index fell by 0.37% to 4034.942 points; the Shenzhen Component Index rose by 0.11% to 14055.074 points.

CHINA TOWER (00788) released its annual performance results, with a net profit attributable to shareholders of 11.63 billion yuan, an increase of 8.4% year-on-year.

China Tower Corporation (00788) released its annual performance for the year ending December 31, 2025. The group achieved operating revenue of 100.411 billion yuan, a year-on-year increase of 2.7%; profits attributable to the company's shareholders were 11.63 billion yuan, a year-on-year increase of 8.4%; basic earnings per share were 0.6653 yuan; and the proposed final dividend is 0.32539 yuan per share.

CHINA RES POWER (00836) announces annual performance, with a shareholder profit of HK$14.519 billion, representing a year-on-year increase of 0.9%.

China Resources Power (00836) released its annual results to December 31, 2025, reporting a total revenue of HK$102.01 billion, a decrease of 3.11% year-on-year. The company's attributable profit reached HK$14.519 billion, an increase of 0.9% year-on-year. Earnings per share were HK$2.8, and a final dividend of HK$0.771 per share is proposed.

Brent crude oil fell by 2% during the day and is now trading at $97.40 per barrel.

The international copper futures contract fell by 5% intraday and is currently trading at 84000.00 yuan.

H200 Chinese market volume countdown! CUDA supports strong demand NVIDIA Corporation (NVDA.US) AI empire welcomes "incremental benefits"

NVIDIA's trillion-dollar AI grand plan strengthened? NVIDIA CEO Huang Renxun said that the company is launching mass production of H200 AI chips for Chinese customers. "Our H200 supply chain is being restarted," Huang Renxun said during an event at NVIDIA's annual GTC conference in San Jose, California.

"New Fed News Agency": Focus on Three Major Signal Windows from "When to Cut Interest Rates" to "Whether to Cut Interest Rates"

The Wall Street Journal pointed out that the escalation of the situation in the Middle East has strengthened the consensus for the Federal Reserve to hold steady. The focus is on three key signals: the wording of the policy statement, the dot plot predictions, and Chairman Powell's press conference. These will determine whether this round of easing will come to an end.

Join the optimistic camp of Goldman Sachs and Morgan Stanley! Barclays cheers: US stocks are showing the best buying opportunity in nearly a year.

Alex Altmann of Barclays Bank pointed out that the US stock market is showing the strongest buy signal in almost a year. He has joined the growing optimistic camp on Wall Street and believes that the worst phase of the recent sell-off may be behind us.

ZTO EXPRESS-W (02057) released annual results with a net profit of 9.236 billion yuan, a year-on-year increase of 3.9%. The volume of parcel business continued to rise throughout the year.

ZTO Express (02057) releases its performance for the fourth quarter and fiscal year of 2025. In the fourth quarter of 2025, the group's revenue was 14.511 billion yuan, an increase of 12.3% year-on-year; net profit was 2.693 billion yuan, an increase of 10.1% year-on-year; basic and diluted earnings per American Depositary Share (ADS) were 3.31 yuan each.

Trump called on allies to escort the Strait of Hormuz but did not receive a response. International oil prices hit their highest closing level in three and a half years.

Due to the ongoing escalation of conflicts in the Middle East and the uncertain prospects of shipping in the Strait of Hormuz, international oil prices rose sharply on Tuesday and hit their highest closing level in three and a half years.

International oil prices rise, U.S. government plans to ease sanctions on Venezuela.

On March 17th local time, the US government plans to further relax sanctions on the Venezuelan oil industry to increase oil production in the context of rising oil prices due to the Iran war. The measures could be announced as early as this week, including issuing individual permits to more foreign companies to allow them to participate in Venezuelan oil business without violating US sanctions. Insiders said the move aims to boost Venezuelan crude oil production and alleviate global energy supply tensions.

The Dow Jones Industrial Average rose 0.1%, the Nasdaq rose 0.47%, and the S&P 500 rose 0.25%. Among the top trading stocks, Nvidia fell by 0.7%, Micron Technology rose by 4.5%, Tesla rose by 0.94%, and Broadcom fell by 1.11%.

US Stock Market Move | Lilly (LLY.US) falls more than 4%, Shodis Biotech (GPCR.US) releases positive data on experimental weight-loss drug.

As of the time of submission, the stock has fallen more than 4%, trading at $948.76.

US Stock Market Move | Solaris Energy Infrastructure (SEI.US) surged more than 16%, acquiring Genco Power to increase its natural gas power generation business.

On Tuesday, Solaris Energy Infrastructure (SEI.US) surged more than 16% to $66.44.

SMOORE INTL (06969) announced its performance for the year 2025, achieving a net profit of approximately 1.062 billion yuan, a year-on-year decrease of about 18.5%.

Simaoer International (06969) announces its performance in 2025, with revenue of approximately RMB 14.256 billion, an increase of about 20.8% year-on-year. Gross profit is about RMB 4.857 billion, an increase of about 10.1% year-on-year. Net profit for the year is about RMB 1.062 billion, a decrease of about 18.5% year-on-year. Basic earnings per share is 17.44 cents, and a final dividend of 20 Hong Kong cents per ordinary share is proposed.

Net income of GDS-SW (09698) in 2025 increased by 10.8% year-on-year to 11.4323 billion yuan.

-SW (09698) announced its performance in 2025, with net income increasing by 10.8% year-on-year to 11.4323 billion yuan, net profit of 959.4 million yuan, and adjusted EBITDA growing by 10.8% year-on-year to 5.4035 billion yuan.

U.S. Redbook retail sales annual rate increased to 6.4% for the week ending on March 13, up from the previous value of 6.2%.

ZYLOXTB (02190) releases annual performance with a net profit of 244 million yuan, representing a year-on-year increase of 143.75%.

Guichuangtongqiao (02190) released its annual performance for the year ending December 31, 2025. The group achieved revenue of 1.057 billion yuan, a year-on-year increase of 35.15%; gross profit of 763 million yuan, a year-on-year increase of 36.26%; net profit of 244 million yuan, a year-on-year increase of 143.75%; basic earnings per share of 0.7646 yuan. It is proposed to distribute a final dividend of 0.22 yuan per share.

KINGDEE INT'L (00268) achieved a turnaround from losses to profits in 2025, with significant results in subscription transformation. The acceleration of AI transformation and speeding up of global expansion.

Kingdee International (00268) announced its performance for 2025, with revenue of approximately 7.006 billion yuan, a year-on-year increase of about 12.0%. The profit attributable to equity holders of the company is estimated to be about 92.914 million yuan, turning from a loss to a profit year-on-year; basic earnings per share is about 2.64 cents. The net cash flow generated from operating activities is approximately 1.097 billion yuan.

Chongqing Afari Technology (601777.SH) has released a new generation of intelligent driving technology, in collaboration with the super intelligent body, focusing on the integration of cabin and driving.

At the NVIDIA GTC 2026 conference held today, the Geely Group announced a key breakthrough in the "cockpit integration" field, and the "Super Eva+G-ASD 4.0" jointly created with Qianli Technology (601777.SH) and Jieyue Xingchen is about to be launched and put into mass production.

WEIMOB INC (02013) released its performance for the year 2025, with a total revenue of 15.92 billion RMB, an increase of 18.9% year-on-year. The high-quality growth is driven by AI strategy.

Weimeng Group (02013) released its annual performance as of December 31, 2025. The total revenue of the group was 1.592 billion yuan, an increase of 18.9% compared to the previous year. Gross profit increased by 100.4% from 596 million yuan in 2024 to 1.195 billion yuan in 2025, with a gross profit margin rising from 44.5% to 75.1%. The quality of income continued to improve. Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was 155 million yuan, and adjusted net profit was 42 million yuan. As of December 31, 2025, the group had cash and bank deposits of approximately 2.099 billion yuan, with a healthy cash and financial position.

TME-SW(01698) released its annual performance, with a net profit attributable to shareholders of 11.06 billion yuan, a year-on-year increase of 66.4%.

Tencent Music Entertainment Group (01698) released its fourth quarter financial results for the three months ending December 31, 2025. The group achieved a total revenue of 8.64 billion yuan (unit same below), an increase of 15.9% year-on-year; online music service revenue was 7.1 billion yuan, a year-on-year increase of 21.7%; net profit attributable to equity holders of the company was 2.2 billion yuan, a year-on-year increase of 12.6%; diluted earnings per American Depositary Share were 1.41 yuan.

HKELECTRIC-SS(02638) released its 2025 annual performance, with a net profit attributable to shareholders of HK$3.149 billion, representing a year-on-year growth of 1.2%.

Hong Kong Electric Holdings Limited (02638) announced its full-year results for 2025, with revenue of HK$12.125 billion, an increase of 0.6% year-on-year. The attributable surplus to shareholders of the Company amounted to HK$3.149 billion, an increase of 1.2% year-on-year, with earnings per share of HK$0.3564.

Hong Kong Airlines has once again significantly raised its fuel surcharge for international routes, with China Eastern Airlines and China Southern Airlines following suit.

In response to the rising fuel prices, Hong Kong Airlines raised its fuel surcharge on March 12, and today announced another increase in fuel surcharge effective on the 18th: the fuel surcharge for flights from Hong Kong to Mainland China will remain at 190 Hong Kong dollars; for short-haul flights from Hong Kong to Asia, the fuel surcharge will increase from 212 Hong Kong dollars to 290 Hong Kong dollars; for long-haul flights to Europe, America, Africa, and the Middle East, the fuel surcharge will increase from 739 Hong Kong dollars to 1164 Hong Kong dollars. Currently, China Eastern Airlines and China Southern Airlines have also notified some agents that there will be adjustments to the fuel surcharge for international flights, so arrangements for ticket issuance should be made as soon as possible.

CHINA LIT (00772) announces annual performance with revenue of approximately 7.366 billion RMB, and the Gross Merchandise Value (GMV) of derivatives successfully surpassing 1.1 billion RMB.

China Reading Limited (00772) announced its financial results for the year ended December 31, 2025. The company reported revenue of approximately 7.366 billion RMB, gross profit of approximately 3.397 billion RMB, a net loss attributable to equity holders of approximately 776 million RMB, a net profit attributable to equity holders under non-IFRS of approximately 8.58 billion RMB, and a basic loss per share of 0.76 RMB.

Hong Kong stocks close: Hang Seng Index rose 0.134%, Hang Seng Technology Index fell 0.081%

CR Vanguard Lifestyle rose by 4.630%, Geely Automobile rose by 4.550%, Longfor Group rose by 4.444%, Li Ning rose by 3.579%, Hangzhou Hongqiao fell by 3.254%, Ningde Times fell by 3.284%, and Huahong Semiconductor fell by 3.333%.

Samsung's three folding screen smartphones were only on the market for three months before being discontinued due to their high price and complex production process becoming a "roadblock".

Three months after the Galaxy Z TriFold foldable smartphone was launched, Samsung Electronics is gradually stopping its sales.

Tungsten mining exploration and development company Guardian Metal (GMTL.US) prices its IPO at $16.35 per ADS, aiming to raise $50 million.

Guardian Metal Resources plans to issue 3.1 million American Depositary Shares (ADS) at a price of $16.35 per ADS to raise $50 million.

Hang Seng Technology Index fell after rising more than 2% earlier.

The Hong Kong stock market fluctuated and fell back, with the Hang Seng Technology Index turning down after rising more than 2% previously. The Hang Seng Index narrowed its gains to 0.15%.

Latest

4 m ago

Powell: Inflation is the sustained increase in prices, not a one-time increase. In theory, tariffs should be considered a one-time factor.

4 m ago

CEO of Petrobras: Currently, the capacity utilization of three refineries exceeds their design capacity.

6 m ago

CEO of Brazilian Petroleum Company: It is expected that oil prices will fall by the end of the year.

7 m ago

Powell: We are unsure of the impact that rising gasoline and food prices will have. We hope that the increase in natural gas prices is not a long-term phenomenon. We do not want to speculate.

7 m ago

Federal Reserve Chairman Powell: We hope that the rise in oil prices will not last too long.

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