Zhitong Hong Kong Stock Exchange Unravels | Raising the banner of justice and getting a lot to help Southeast Asian concepts rise one after another

[Anatomy Dashboard]

For several days in a row, A-shares continued to break the trend because some national team funds are stabilizing the situation. It just so happened that US stocks were being adjusted again. Today, Hong Kong stocks rebounded in line with the trend. The Hang Seng Index closed up 1.61%.

California can't handle it anymore. Xinhua News Agency, Los Angeles, April 16. Governor Newson of California, the largest US state in terms of population and economy, announced on the 16th a lawsuit against the Trump administration over tariffs. He criticized the Trump administration for abusing the tariff policy as “illegal.” California is the most economically powerful state in the US. In 2023, the state's gross domestic product was 3.9 trillion US dollars, and the total import and export trade volume in 2024 was close to 675 billion US dollars. California is the largest importer among the US states. In terms of exports, Mexico, Canada, and China are California's top three export destinations, accounting for more than one-third of the state's total exports of $183 billion in 2024. This demonstration effect is very strong. If the entire US were to be radiated, Trump estimated Alexander.

What's worse, Federal Reserve Chairman Powell's speech at the Chicago Economic Club: Given that US President Trump's tariff system is undergoing drastic changes, it is understandable that the market will encounter difficulties. When asked if the Federal Reserve would intervene to deal with the sharp decline in the stock market, Federal Reserve Chairman Powell said, “My answer is no, but I will give an explanation.”

In fact, Trump has always wanted to fix the Federal Reserve and hopes for its cooperation, but this statement shows that it cannot be done at all, because the Federal Reserve is under deep government control, is also the last barrier, and will not cooperate easily. Moreover, if inflation does not come down, cutting interest rates will also be a dose of poison; it is Trump himself who can save US stocks.

The movements on our side are also frequent. According to reports, China will convene an informal meeting of the UN Security Council next week to discuss the issue of additional tariffs imposed by the US. Now is the time for China to hold high the banner of justice, so it is said that more is gained, less help, less help. But at the same time, it also retains elasticity.

Ministry of Commerce spokesman He Yongqian: China's Ministry of Commerce has always maintained working-level communication with its US counterpart departments. China's position has always been very clear, and it is open to negotiations with the US in the economic and trade fields. The unilateral imposition of tariffs is entirely initiated by the US side; it is up to the bell to be lifted. We urge the US side to immediately stop extreme pressure, stop coercion and blackmail, and resolve differences through dialogue on an equal footing with China on the basis of mutual respect.

Following the signing of a series of agreements with Vietnam, China and Malaysia made a joint statement on building a high-level strategic Sino-Malaysian community of destiny: the two sides will jointly expand new productivity cooperation, create new growth points for cooperation in cutting-edge fields such as advanced manufacturing, artificial intelligence, and quantum technology, strengthen smart city cooperation, and strengthen the integrated development of the industrial chain supply chain. The Malaysian side welcomes Chinese companies to participate in the construction of Malaysia's 5G network. The two sides are committed to exploring the potential for cooperation in the semiconductor industry chain and maintaining the stability of the production and supply chain.

The market is mainly in the digital center area. Universal Data - SW (09698): It has data center businesses in Hong Kong, Singapore, Malaysia, etc., and its Malaysian data center has an IT power of 881.2 megawatts. Today's increase is over 10%. Another one is Dexiang Shipping (02510): Prices for shipping this US-West route have dropped significantly, but the Southeast Asia rush shipping phenomenon is obvious. It is expected that the boom will continue to rise in the second quarter. The company focuses on containers in the Asia-Pacific region, which is up nearly 12% today.

In the past two years, as competition in the domestic market for the new tea industry intensified and the growth rate of Southeast Asia slowed, many brands have set up overseas markets. The Southeast Asian market has become the preferred destination for new tea brands: there are three main reasons: demographic dividend and Chinese base: Southeast Asian countries have a total population of about 600 million, mostly around the age of 30, and are younger; tropical climate and demand for cold drinks: Southeast Asia is close to 30℃ throughout the year, and residents have strong demand for cold drinks; tea drinking culture genes: Southeast Asia and China share cultural genes for tea drinking, and prefer drinks such as tea and milk tea.

The more critical factor is that as China's influence continues to increase, new Chinese tea drinks have become a fad. Coupled with Southeast Asia's active approach to China, it is relatively easier and more manageable to develop this market. Leading Mitsu Collective (02097) surged more than 6%, while the bottom Chabaidao (02555) surged more than 10%.

The title that was released yesterday is quite powerful: “Real estate expectations are growing, and capital is being sought”. Real estate stocks are gaining strength across the board today. The latest catalyst is Premier Li Qiang's research in Beijing, pointing out that China's real estate market still has a lot of room for development, and the market potential needs to be further unleashed.

According to other media reports, the formulation of a package of positive policies has been accelerated, such as restarting the expanded shed reform plan, increasing the scale of collection and storage, and reducing the 5-year LPR. Policy expectations are expected to boost the catalytic sector's gaming market. Real estate is a breaking point for “stabilizing domestic demand”. Focus on the Q2 policy window, focus on left-hand layout opportunities, and interest rate cuts, storage, urban reform, and first-line purchase restrictions are the main directions. When the Politburo meeting is approaching, funding may continue to be active until the central government sets the tone and the new industrial policy is implemented. Related varieties such as Xincheng Development (01030), Yuexiu Real Estate (00123), Vanke (02202), China Overseas Development (00688), and China Resources Land (01109) are stronger because they are biased in the direction of shed reform.

Tencent (00700) was mentioned yesterday, and the benefits are shared again today. Recently, WeChat launched a new feature. After searching for “ingots” on WeChat, users can add them as friends and interact directly with them on the WeChat chat interface. According to the official presentation, it “is equipped with a hybrid element and DeepSeek dual-mode engine, which seamlessly connects to the WeChat ecosystem. Analyze public account articles and any images and documents with one click, and provide detailed explanations in seconds after a short review, supporting all kinds of intelligent interaction with the interpreted content.”

Tencent's biggest advantage is that the moat is deep enough. Huge traffic is its core competitiveness. WeChat can add “YuanBao” friends, which means that Tencent has taken the first step in becoming an AI agent. Membership subscriptions are Tencent Yuanbao's most direct billing method. Although Tencent Yuanbao's membership subscription fee mechanism is unlikely to be launched in the short term, it will open up space for C-side monetization in the medium to long term. Tencent (00700) is up more than 2% today. In addition, Alibaba (09888), the overseas e-commerce concept mentioned, also increased by more than 3%.

On April 17, Nvidia CEO Huang Renxun arrived in Beijing at the invitation of the China Council for the Promotion of Trade. Three months ago, Huang Renxun stated in China that he would continue to cooperate with China. H20 castrated versions have all been banned. Hwang In-hoon is quite depressed. He didn't expect that the other day he wanted to use his 500 billion dollar investment to please Trump. However, if you think about it carefully, the Chinese market definitely cannot be lost. Just like Cook, it was eventually exempted. Therefore, the chip still needs to be watched in the future.

Speaking of gold, which has been trending strongly recently. Spot gold surpassed 3,350 US dollars/ounce this morning, continuing to set a new record high. COMEX gold recently reported 3359.5 US dollars/ounce. However, gold stocks surged higher and fell today. Chifeng Gold (06693) once rose more than 15%, closed down 4.81%, and released a large amount. Of course, today's acceleration will reverse; of course, there will be a correction in the short term.

[Section Focus]

The global automobile industry is undergoing unprecedented changes, and the rapid rise of electric vehicles in China is causing established European car companies to face serious challenges. “Europe helped China learn how to make cars, but now the situation is changing.”

A well-known media published a long article on April 16, pointing out that Chinese car companies are already leaders in various advanced technologies, and that more and more European car companies are seeking cooperation with Chinese companies to prevent falling behind in key areas. The EU is also trying to catch up with China's innovation by exchanging market access for key technologies. Western companies were worried that their intellectual property rights would be “stolen” when doing business in China, but now they have discovered that China has similar concerns. Automobile industry executives said that Beijing is making efforts to ensure that technology developed by China does not flow into Europe as a result of cooperation agreements.

What is 30 years in Hedong and 30 in Hexi. New energy vehicles are typical examples. With the gradual decline of US hegemony, Europe is actively moving closer to China, and the future potential of new energy vehicles in the European market is worth looking forward to.

The main products deployed in Europe are: BYD Co., Ltd. (01211), Xiaopeng (09868), Ideal Auto (02015), Zero Sports Auto (09863), and Geely (00175).

[Individual Stock Mining]

Cinda Biotech (01801): Multiple R&D pipelines will enter the harvest period, and MSD peptides are expected to be approved in the middle of the year

In 2024, the company's total revenue reached 9.42 billion yuan, up 51.8% year on year; product revenue was 8.23 billion yuan, up 43.6% year on year. For the first time, the company achieved positive Non IFRS profit ($330 million) and positive EBITDA ($410 million), and IFRS losses narrowed by 90.8% year-on-year.

Comment: The company's performance last year exceeded expectations. At the same time, the company made breakthroughs in many fields. The number of products already on the market continues to be released. Multiple R&D pipelines are about to enter the product harvest period. Cinda Biotech currently has a portfolio of 15 commercial products. New products have grown significantly, and R&D milestones have been achieved. Among them, dabershu (cindilizumab injection) is the company's flagship product, and sales for the full year of 2024 reached 526 million US dollars. Oncology and integrated product lines drive long-term growth, with a revenue target of 20 billion yuan in 2027.

In terms of long-term growth, tumors represented by Dabershu (PD-1) and comprehensive product lines represented by Maxidol peptides (GLP-1/GCG) will continue to drive future growth. In the field of oncology, the subfields are hematoma, TKI precision treatment, and broad-spectrum biopharmaceuticals. In the fields of integrated product lines, ophthalmology, immunology, and cardiovascular and metabolic (CVM). It is estimated that by 2027, product revenue will reach 20 billion yuan, and two-wheel drive will continue to expand growth space. At least 20 approved products will continue to be released. At the same time, newly introduced key clinical innovation molecules and indications will further expand business areas, and a rich clinical phase I/II innovation pipeline will also provide strong impetus for future development.

The company is actively expanding the field of chronic diseases, including obesity, diabetes, and cardiovascular disease, to create a second growth pole outside the field of oncology. The company's strategic cooperation with international pharmaceutical companies such as Eli Lilly and Roche is also progressing smoothly, providing new impetus for future development.

Mast peptides are expected to be approved in the middle of the year, leading the way in many chronic disease products, and a new generation of weight loss products will be differentiated.