From January to March 2026, 13,987 new foreign-invested enterprises were established across China, representing a YoY increase of 11%, according to data from China's Ministry of Commerce (MOC). Actual foreign direct investment (FDI) utilized amounted to RMB249.6 billion, down 7.3% YoY.

By sector, actual FDI utilized in the manufacturing sector was RMB71.46 billion, while that in the services industry reached RMB174.6 billion.
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Alibaba Cloud announced that, with effect from 10:00 am next Thursday (30th), the monthly quota for new purchases of Qoder Teams will be increased to 3,000 Credits per seat, with pricing adjusted to RMB300 per seat per month.
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EOPTOLINK (300502.SZ) selected CITIC Securities and JP Morgan to advance its Hong Kong listing plan, with expected fundraising of approximately USD3 billion, Bloomberg reported, quoting people with the knowledge of the matter.

Over the past year, EOPTOLINK has seen its share price in Shenzhen proliferate, bringing its market cap to USD78 billion. The company focuses on the R&D, production and sale of various high-performance optical modules and optical components.

Buyers of optical modules include top-notch global technology companies such as Alphabet (GOOGL.US) and Amazon (AMZN.US), as data centers require optical modules to connect advanced chips within AI computing clusters.
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DeepSeek released the DeepSeek-V4 preview version today (24th), which supports a context length of up to one million tokens.

Meanwhile, Tencent Cloud announced the simultaneous launch on the TokenHub, offering DeepSeek-V4 preview API services, with external pricing aligned with DeepSeek's official rates. The service has also been launched on the Singapore node of Tencent Cloud's international site for global users.
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China's Ministry of Commerce (MOC) announced today (24th) that, in order to safeguard national security and interests and fulfill international obligations such as non-proliferation, and in accordance with the Export Control Law of the People's Republic of China, the Regulation of the People's Republic of China on the Export Control of Dual-Use Items and other relevant laws and regulations, the MOC decided to add seven EU entities, including Fabrique Nationale de Herstal (FN Herstal), to the export control list, effective immediately.

The seven EU entities include FN Herstal, OMNIPOL a.s., HENSOLDT AG, EXCALIBUR ARMY spol. s r.o, VZLU AEROSPACE a.s. and FN Browning, etc..
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Gong Min, head of China's automobile industry research at UBS Investment Bank, said that more than 100 models are expected to be launched at the 2026 Beijing International Automotive Exhibition, a scale similar to recent auto shows. Notably, most of the models will come from Chinese OEMs, with EVs accounting for the majority.

While this could galvanize customer interest, boost investor sentiment and reinforce analysts model cycle narrative, Gong believed the costs associated with new model development, testing, tooling and marketing should not be overlooked. Structurally, it underscores the acute competition in the domestic EV market, which at times may even resemble a zero-sum environment.

Gong added that from a TCO perspective, current oil price volatility has made EVs a more appealing option. If cost pass-through from commodities leads to inflation expectations for certain vehicle prices, demand recovery may come faster than investors anticipate, making the sector worth revisiting.
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TAL Education Group (TAL.US) announced its results for 4QFY26 and FY26. For 4FQ, net revenue grew 31.5% YoY to USD802 million, beating market expectations of USD784 million. Non-GAAP diluted EPS per ADS was USD0.45, also above the market consensus of USD0.15.

Operating profit for 4FQ was USD72.473 million, compared with an operating loss of USD16.015 million in the same period last year. Gross margin improved to 53.2% from 52% a year earlier. Net profit attributable to TAL was USD245 million, versus a net loss of USD7.311 million in the prior-year period. Non-GAAP net profit was USD255 million, compared with USD7.012 million a year ago. Basic and diluted net profit per ADS were both USD0.44.

The stock closed down 9.3% overnight (23rd) at USD10.91.
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BYD COMPANY (01211.HK) announced the launch of pre-sales for its Great Tang EV model, which is equipped with rear-wheel steering technology.

It is available in three versions, naming 800KM rear-wheel drive, 950KM rear-wheel drive and 850KM four-wheel drive, with a pre-sale price ranging from RMB250,000 to RMB320,000.
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Xiaomi Auto CTO Hu Zhengnan said today (24th) that, since Xiaomi Auto expands in scale and market reach, the company will develop tailored products for different global markets in the future, but it will remain focused on its existing products at the current stage.

At the 2026 Beijing Auto Show, Xiaomi's European R&D center expert team made its debut. The team has been deeply involved in the development of the first model, YU7 GT, which will be officially launched at the end of May.
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While there are some investment opportunities in emerging market equities, the theme for buying emerging market stocks lies in investment risk diversification and negative correlation with the USD, Morgan Stanley said.

Other assets can also provide similar advantages and offer a higher Sharpe Ratio. Therefore, the broker believed that emerging market equities have not yet entered a new long-term bull market.

Emerging market countries lack a clear development outlook comparable to that of Japan, with relatively high valuations, cyclical earnings and geopolitical risks, Morgan Stanley added.
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Tmall, an e-commerce platform under BABA-W (09988.HK), announced the initiation of a RMB10 billion car subsidy program. On top of existing brand discounts, this program offers a three-tier subsidy package, namely subsidies on the final new car purchase price, exclusive channel purchase benefits, and customized model configuration upgrades.
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At the Auto China in Beijing today (24th), He Xiaopeng, Chairman and CEO of XPENG-W (09868.HK), said that XPENG-W began delivering vehicles in 2019.

Robots are expected to enter mass production by the end of 2026 and commence full-year commercial sales in 2027, with initial performance projected to far exceed that of XPeng Motors in 2019. Starting next year, a small number of robots that can genuinely assist daily life will achieve mass production.

He revealed that XPENG-W's first entry track in the robotics field is to make sales easier. For example, in store scenarios, 10% of sales work will be handled by robots starting next year as robots will introduce XPENG-W's product highlights to customers, hand over to human staff when a test drive is required, and transfer to professionals when customers are ready to make a purchase.
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The preview version of DeepSeek-V4 was launched today (24th) and was simultaneously open-sourced, including DeepSeek-V4-Pro and DeepSeek-V4-Flash, according to STAR Market Daily.

DeepSeek-V4 completed validation of its fine-grained expert parallelism (EP) solution on both Nvidia's GPUs and Huawei Ascend NPUs, according to DeepSeek's official document introduction. Moreover, the official API page noted that, constrained by high-end computing power, the service throughput of the V4-Pro model remains limited.

It is expected that, after the Ascend 950 SuperPod is launched in bulk in 2H26, the V4-Pro model price will be significantly reduced.

CAMBRICON (688256.SH) announced on its WeChat official account that it has completed Day 0 adaptation of the latest open-source models from DeepSeek, naming 285B DeepSeek-V4-Flash and 1.6T DeepSeek-V4-Pro, based on the vLLM inference framework. The adaptation code has been open-sourced to the GitHub community.
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State Grid Corporation of China plans to centrally procure about 8,500 units of various embodied intelligence equipment from robotics companies, including Deep Robotics, Unitree Robotics, AgiBot, and UBTECH ROBOTICS (09880.HK), this year, according to Chinese media outlet Jiemian.com. The total investment is expected to reach around RMB6.8 billion.

Internal documents show that the procurement will be carried out in batches. 1Q26 will be the pilot procurement phase, 3Q26 as the large-scale procurement phase, and 4Q26 for supplementary purchases. Quadruped inspection robotic dogs are the largest category in this procurement. State Grid intends to buy 5,000 of them under a budget of RMB1.5 billion.
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In 1Q26, smartphone shipments in China totaled around 69.01 million units, down 3.3% YoY, according to the latest quarterly report released by International Data Corporation (IDC).

Shored by Huawei and Apple phones, the overall market performance for the quarter was slightly above expectations. Huawei ranked first with shipments of 13.7 million units, accounting for a market share of 19.8%, while Apple's shipments reached 13.1 million units, representing a market share of 18.9%.
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Chinese Vice Minister of Finance Song Qichao recently met with Lorenzo Bini Smaghi, Chairman of Societe Generale, in Beijing to exchange in-depth views on the macro landscape and policies, as well as offshore sovereign bond issuance and other topics.
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The 2026 Beijing Auto Show opened today (24th). William Li, Founder, Chairman and CEO of NIO-SW (09866.HK), revealed that following the technology launch of the all-new ES9 on April 9, the company has introduced four new ES9 display vehicles to the show today. They are anticipated to officially launch and begin delivery acceptance in late May.

Li stated that before formal delivery, the company will conduct a real-world test by driving the ES9 to undertake a 10,000-kilometer shortest-time challenge, with arrival expected on May 10.
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CHALCO (02600.HK) reported a 56% YoY increase in net profit to RMB5.527 billion for 1Q26, representing a 207% QoQ surge, in line with its earlier pre-announcement, Citi Research issued a research report saying.

Therefore, the broker kept rating at Buy on CHALCO's H-shares, with a target price of $15.94, based on a projected 2.81x 2026 PB ratio.

Furthermore, Citi Research previously opened a 30-day positive catalyst watch on CHALCO, expecting that its Chairman and management would provide positive guidance during investor meetings.

The broker also believed that the market has underestimated the impact of aluminum supply disruptions resulting from the Iran conflict. CHALCO remains Citi Research's sector top pick.
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Ant Bailing officially launched its trillion-parameter integrated flagship model, Ling-2.6-1T, designed for real-time task execution.

Harnessing an innovative Hybrid architecture that combines MLA and LinearAttention, the model abandons complex "slow thinking" processes and adopts a "fast thinking" mechanism to achieve highly efficient inference.
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CHINA TELECOM (00728.HK)'s 1Q26 total revenue dropped by 2.6% YoY to RMB132 billion, missing market expectations, according to a report from Citi. Of which, service revenue fell by 1.6% YoY to RMB122.7 billion, also below expectations.

During the period, CHINA TELECOM also saw operating expenses decrease by 0.7% YoY to RMB123.8 billion, EBITDA decline by 7.7% YoY to RMB33.9 billion, and EBITDA margin slip by 1.4 ppts YoY to 25.7%.

Citi reiterated a Buy rating on CHINA TELECOM, with a target price of HKD7.1.
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