This year's largest Global IPO! Report: Contemporary Amperex Technology will be listed at the upper limit of the issue price at 263 Hong Kong dollars, with Institutions having oversubscribed by 30 times.
As of May 14, Contemporary Amperex Technology has received orders from Institutions exceeding 50 billion USD, equivalent to approximately 390.2 billion HKD. Excluding the cornerstone subscription part, it has already been oversubscribed by 30 times. It is estimated that the fundraising amount for Contemporary Amperex Technology's listing in Hong Kong is expected to expand to 41 billion HKD (5.26 billion USD), making it the largest IPO in Hong Kong since Kuaishou's listing in 2021.
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By comparing Apple, Tesla, and BYD, Morgan Stanley explained the logic behind Xiaomi's valuation potentially doubling within five years.
Morgan Stanley believes that, referencing the historical data of Tesla and BYD, as Xiaomi's electric vehicle sales explode over the next two years (with a CAGR of over 100%), the company's electric vehicle Business P/S is also expected to expand rapidly, reaching 2-3 times by 2026. Furthermore, with the model of "Smart Phone + AIoT + Internet services", Xiaomi is expected to replicate Apple's success, with Morgan Stanley predicting that this Business will reach a PE of 20-25 times by 2025.
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Tesla's sales in China decreased by 6% in April compared to the previous year, Stunk continues.
According to data from the China Passenger Vehicle Association (CPCA), U.S. electric vehicle (EV) giant Tesla saw a decrease in passengers carried in China in April as well. The intensified competition with local manufacturers has had an impact. Tesla's sales in China for April were 0.05 million 8459 units, a decrease of 6.0% compared to the same month last year. This represents a 26% decrease from the previous month. Both year-on-year and month-on-month figures have been negative for four consecutive months. While Tesla's market share in China is declining, overall automobile demand is being supported by the government's vehicle replacement assistance program, maintaining a strong level.
More than 60% of A-share vehicle companies achieved growth in net income in the first quarter, with policy dividends and technological breakthroughs being the driving forces for this growth.
① Among the 16 A-share listed automobile companies, 10 companies achieved year-on-year growth in net income attributable to the parent company in the first quarter of 2025, accounting for 62.5%. ② BYD led with a growth rate of 100.38%, SAIC Group's net income increased by 11.40% year-on-year, and Chongqing Changan Automobile's net income attributable to the parent company surged by 601.31% year-on-year.
The listing Business is flourishing, and the HKEX achieved a record profit in the first quarter.
In the first quarter of 2025, the Hong Kong Stock Exchange's Net income reached 4.08 billion HKD, a staggering 37% year-on-year growth, setting a historical quarterly record. The AI boom, the return of Chinese concept stocks, and Trump’s policies have led to drastic market fluctuations, collectively driving up Trade volume and settlement income.
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Rare among large banks! How did Agricultural Bank achieve revenue and profit growth against the trend in Q1?
China Merchants believes that the core benefit comes from Other non-interest growth against the trend, with a growth rate of 45.3% in Q1 2025. The high growth of Other non-interest against the trend indicates that Agricultural Bank may have realized gains at the low point of interest rates in the first quarter, on one hand achieving the entry of OCI floating profits into investment income, and on the other hand reducing the extent of floating losses caused by adjustments in the bond market.
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CM BANK: In the first quarter of 2025, performance was steady, profit slightly decreased, and Asset quality remained stable.
CM BANK's performance in the first quarter of 2025 is stable: profits slightly decreased while asset quality remains stable. Key financial points: Profit performance: Achieved operational results in the first quarter...
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CM BANK: In the first quarter of 2025, performance shows steady growth, but net interest margin is under pressure.
In the first quarter, revenue reached 83.751 billion yuan, a year-on-year decrease of 3.09%; Net income was 37.286 billion yuan, a year-on-year decrease of 2.08%; Net interest income was 52.996 billion yuan, a year-on-year increase of 1.92%; Non-interest net income was 30.755 billion yuan, a year-on-year decrease of 10.64%.
Kweichow Moutai: In the first quarter, revenue surpassed 50 billion, Net income increased by 11.56%, and the decline in operating Cash flow has drawn attention.
In the first quarter, Kweichow Moutai's revenue exceeded 50 billion, with net income growing by 11.56% year-on-year, but the decline in operating cash flow has raised concerns. Key points summary of financial performance:...
Kweichow Moutai's Q1 Net income increased by 11.56% year-on-year, with revenue growth of 10.54%, steady demand for high-end Baijiu(Chinese Liquor) | Earnings Reports Summary.
In the first quarter, Kweichow Moutai achieved a revenue of 50.6 billion yuan, a year-on-year increase of 10.54%, and a Net income of 26.847 billion yuan, a year-on-year increase of 11.56%. The demand for high-end Baijiu remains strong, and the series of liquor Global Strategy has shown significant results.
Industrial And Commercial Bank Of China: In the first quarter of 2025, the Net income decreased by 3.81%, and total Assets surpassed 51.5 trillion.
Industrial And Commercial Bank Of China 2025 first quarter Earnings Reports: Total Assets exceed 51.5 trillion, non-performing rate stabilizes but profits are under pressure. Summary of key points: Financial performance declined: In the first quarter...
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