Exports YoY for Apr in China is 14.1%, higher than the previous value of 2.5%. The forecast was 7.9%.~



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There was HKD1.7 billion, HKD389.3 million and HKD265.7 million Southbound Trading net inflow to KUAISHOU-W (01024.HK), BABA-W (09988.HK) and SMIC (00981.HK).

There was HKD535.7 million, HKD198.6 million and HKD145 million Southbound Trading net outflow from XIAOMI-W (01810.HK), YOFC (06869.HK) and HUA HONG SEMI (01347.HK).

For Southbound Trading of Shanghai-Hong Kong Stock Connect, SMIC (00981.HK) was the most active stock with highest net inflow of HKD932 million, while XIAOMI-W (01810.HK) was the most active stock with highest net outflow of HKD364 million.

For Southbound Trading of Shenzhen-Hong Kong Stock Connect, KUAISHOU-W (01024.HK) was the most active stock with highest net inflow of HKD1.6 billion, while SMIC (00981.HK) was the most active stock with highest net outflow of HKD666.4 million.

At close, Southbound Trading net outflow totaled HKD0 , representing 44.13% of the total transaction amount of HKD123.46 billion.
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LI AUTO-W (02015.HK) announced that the group added 23 LI Auto supercharging stations and 122 supercharging piles in April. As of April 30, the number of LI Auto supercharging stations totaled 4,077, with 22,509 supercharging piles, covering 31 provinces and 290 cities.

In addition, during the Labor Day holiday period, total trips made by LI Auto vehicles reached 1.559 million, with cumulative mileage of 640 million kilometres, representing an increment of 55.1% compared with normal days.
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Morgan Stanley issued a report in early April listing its forecasts for BABA-W (09988.HK) for the quarter ended end-March this year (4QFY26):

Item | Figure (RMB) | YoY Change
Consolidated revenue | RMB241.155 billion | +2.0%
China Commerce Group revenue | RMB123.544 billion | +7.5%
- Customer management revenue | RMB72.518 billion | +1%
- Quick commerce revenue | RMB19.126 billion | +50.8%
- International Digital Commerce Group revenue | RMB35.238 billion | +4.9%
- Cloud Intelligence Group revenue | RMB42.242 billion | +40.2%
- All other revenue | RMB63.502 billion | -24.2%
Consolidated adjusted EBITA | RMB4.508 billion | -86.2%
Adjusted EBITA margin | 1.9% | -12 ppts
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XPENG-W (09868.HK) disclosed that one month after the rollout of its second-generation VLA system, smart driving mileage penetration topped 50%, meaning that more than half of total mileage has been led by the "AI driver" in real-world driving scenarios.
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SENSETIME-W (00020.HK) has officially rolled out its new-generation lightweight multimodal agent model, "SenseNova 6.7 Flash-Lite".

Built on a native multimodal architecture, the model can interpret complex webpage layouts, document structures and financial charts in a human-like manner, drastically improving the success rate of long-chain complex tasks such as data analysis, in-depth research and PPT generation.

After removing the intermediate visual-to-text conversion layer, the model achieves a leap in agent capabilities with a smaller parameter size, substantially reducing Token consumption during inference.

In scenarios such as information search, Token usage has been slashed by 60% compared with text-only agent models.
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Based on strong demand for battery energy storage systems (BESS), soaring energy prices driven by Middle East conflicts supporting electric vehicle (EV) demand, and accelerating demand for electric trucks in China, UBS’ global commodities team raised global lithium price forecasts, UBS said in a research report.

The broker estimated global lithium demand in 2026 to grow 16% YoY to 1.97 million tonnes of lithium carbonate equivalent (LCE), of which EV battery demand will account for 53%, up 12% YoY, while ESS batteries demand will account for 17%, up 60% YoY.

The broker slightly raised its global lithium supply forecast for 2026 by 1%, and expected global risk-weighted supply to grow about 13% YoY to 1.91 million tonnes LCE (including recycling), resulting in a shortfall of 65,000 tonnes LCE.

UBS ratings and TP for related stocks are listed below:

Stock | Investment Rating | TP
TIANQI LITHIUM A (002466.SZ) | Buy | RMB78.3 -> RMB93.18
GANFENG LITHIUM A (002460.SZ) | Buy | RMB82.79 -> RMB110.45
GANFENGLITHIUM H (01772.HK) | Buy | HKD74.35 -> HKD106.86
YANHU (000792.SZ) | Buy | RMB45 -> RMB49.8
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Chen Zhongyue, Chairman of CHINA MOBILE (00941.HK), stated at the main forum of the "China Mobile 2026 Mobile Cloud Conference" that the company will advance the construction of a nationwide integrated computing power network, providing computing services that are readily accessible and broadly affordable.

The company will build a leading computing network, strengthen high-speed all-optical direct connections between hub nodes and hotspot regions, promote unified management and intelligent scheduling of diversified computing resources, and achieve interconnection and supply-demand matching of computing power.

Chen added that CHINA MOBILE will continue to enhance full-stack innovation in communications, computing power and intelligence to empower various industries and serve households. It will advance the "New Computing Power Momentum Initiative" to deepen cooperation in resource development, computing interconnection and integrated convergence, and launch a trillion-Token service trial package.
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BIDU-SW (09888.HK) opened 2.9% higher. With extended gains in early trading, it last spiked 3.2% to HKD141.7.

Kunlunxin, a subsidiary of BIDU-SW, officially launched listing tutoring for the STAR Market yesterday, with CICC serving as the tutoring institution, information on the website of the China Securities Regulatory Commission showed.

Kunlunxin is also proceeding normally with its Hong Kong listing process, Chinese media reported, citing people with the knowledge of the matter.
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XIAOMI-W (01810.HK) added 1.54% against the broader market to HKD31.6, with turnover of HKD890 million. Goldman Sachs forecast XIAOMI-W's profit for 1Q26 to beat, with GM demonstrating stronger resilience, and maintained its Buy rating.
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Xiaomi Auto has recently undergone a management reshuffle, according to Sina Tech. Yu Liguo, Vice President of the automobile division, has concurrently taken up the role of head of the preparatory team for overseas business, reporting to both Group CEO and President of the automobile division Lei Jun, as well as Group President Lu Weibing.

Xiaomi Auto is reportedly expediting its overseas expansion. According to information disclosed by Xiaomi Corporation Partner and President Lu Weibing at the company's Investor Day, Xiaomi Auto is assumed to officially launch its globalization process in 2H27, with Europe as its first destination, followed by foray into right-hand-drive markets in 1H28.
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POP MART (09992.HK) opened 0.5% higher today (8th). With sharper gains in early trading, the stock price hit an intraday high of HKD174.9, the highest level in more than a month. It last printed at HKD173.2, up 6.78%, with turnover of 10.6968 million shares, involving HKD1.832 billion.

Prestigious investor Duan Yongping revealed on social media that he had rotated all his holdings in CHINA SHENHUA (01088.HK) into trendy toy stock POP MART.

Duan, in response to online comments, said that as a former entrepreneur, he can clearly see how capable POP MART Chairman Wang Ning is.
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As it has become increasingly difficult to recover funds from distressed Chinese property developers within Mainland China, a growing number of Chinese creditors are turning to Hong Kong courts to pursue outstanding debts, Bloomberg reported.

In one case, SUNAC (01918.HK) Chairman Sun Hongbin has been sued by supplier ORIENTAL YUHONG (002271.SZ), a Beijing-based construction waterproofing materials company.

On April 17, ORIENTAL YUHONG filed a lawsuit in the Hong Kong court against Sun Hongbin, seeking enforcement of a mainland judgment issued last year ordering him to pay more than RMB418.5 million (USD61.3 million), information showed.

If the court rules in favor of ORIENTAL YUHONG, the company may obtain access to Sun's offshore assets.
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CATL (03750.HK)'s subsidiary CATL (Shanghai) Intelligent Technology (literal translation of "時代智能") has recently reached a mass production cooperation agreement on the Panshi chassis with Turkish automotive brand Togg, marking the first integrated intelligent chassis project from Mainland China to supply overseas passenger vehicle markets.

Both parties will jointly develop three models under Togg's new B-segment platform, with the first model scheduled to achieve mass production next year.
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UBS published a report stating that domestic GPU shipment capacity expansion is imminent. Multiple incremental data points reinforced its view that data center demand will accelerate from 2H26. Following large-scale tender release in early January, industry checks indicated that hyperscale cloud operators continue to release orders on a rolling basis. Progress in expanding domestic GPU shipments is in line with expectations. DeepSeek indicated that pricing for its V4 Pro model will decline in 2H26 alongside volume ramp-up of Ascend 950 Supernode.

GDS Holdings Limited (GDS.US) has resumed active expansion in China since 3Q25 and has accumulated a sizeable power quota of approximately 3GW in western regions, the report said. UBS believed the company is likely to secure more than 500MW of new orders in 2026. Although EBITDA acceleration will take time, new orders will become a more important share price catalyst in the new industry upcycle. The TP was lowered to USD60 from USD62. The Buy rating was reiterated.

For VNET Group, Inc. (VNET.US), UBS left its EBITDA forecasts for 2026 and 2027 largely unchanged, but trimmed EBITDA projections for 2028 and beyond pending greater visibility on financing plans to support future growth. The TP was cut to USD15.5 from USD17, with a Buy rating maintained.
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China Foreign Exchange Trade System (CFETS) announced on Thursday (7th) that the central parity of USD/ RMB hiked 75 bps from the previous day to 6.8487. This is the first time it has abruptly shattered through the 6.85 mark since March 24, 2023.
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GEELY AUTO (00175.HK) forged an agreement with Ford Motor Company (F.US) to acquire the "Body3" workshop at Ford's Valencia plant in Spain for the production of multi-energy models based on the GEA architecture, Chinese media reported.

The model, internally codenamed 135 at Geely, is widely speculated to be the Geely EX2, corresponding to the Geely Xingyuan model in the mainland market, report told. In the meantime, Geely will also produce a model on the same platform for Ford at the plant.
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Senior executives from global automotive industry bodies, including James Bruin, Executive Director of the International Automotive Oversight Bureau (IAOB), and Harold Wilhelm, Chairman of the International Automotive Task Force (IATF AISBL), recently gathered in Shenzhen to witness the official admission of BYD COMPANY (01211.HK) as a member of IATF AISBL.

The International Automotive Task Force (IATF) was established in 1999 to create a unified quality management language for the global automotive supply chain. Its certification has been widely recognized by leading global automakers and has become one of the key quality management benchmarks for entry into the international automotive supply chain.
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