Business production continues to accelerate. The production index stands at 52.9%, a rise of 0.7 percentage points from the previous month, the highest since April 2023, indicating a slight acceleration in the expansion of manufacturing enterprises. The new order index is at 51.1%, a decrease of 1.9 percentage points from the previous month, but still within the expansion zone, indicating that the market demand for manufacturing continues to recover. Looking at external ...
Macquarie's latest report on XIAOMI highlights a resurgence in growth, with founder Lei Jun aiming for 100,000 SU7 unit sales and positive gross profit margin (GPM) this year. The analysis underscores Xiaomi's expansion into electric vehicles (EVs) and retail stores, projecting a 21% sales CAGR over three years. Macquarie maintains an Outperform rating, with a revised target price of $31.24, and inclusion in the Asia Marquee Buy list. Ma...
$XIAOMI-W(01810.HK)$sent a number of positive messages to the market at the Investor Day, JPMorgan issued a research report saying. Electric vehicle (EV) momentum beats expectations, with positive gross profit margin (GPM) expected in 2024 and a possible 5-10% GPM in 2025, while operating expenses are also under control. XIAOMI expects smartphone sales to grow by around 10%, and average selling price (ASP) to continue to ris...
China's March trade balance at 415.86 billion yuan, Est.508 bln yuan: Exports -3.8% y/y Imports +2.0% y/y Trade balance at $58.55 bln in USD term, Est.$70.2 bln Exports -7.5% y/y, Est. -3.0% Imports -1.9% y/y, Est. +1.2% CHINA JAN-MAR TRADE VALUE INCREASED BY 5% Y/Y TO 10.17 TRILLION YUAN, FASTEST IN 6 QUARTERS. EXPORTS +4.9% TO 5.74 TL...
SpineeOP :
China's annual PPI dropped as the resumption of post-holiday industrial production led to a relatively sufficient supply of industrial products. International import factors have driven up the prices in domestic oil and non-ferrous metal-related industries. The prices of oil and natural gas extraction industry, and oil, coal, and other fuel processing industry rose by 1.1% and 0.2% respectively. The price of the non-ferrous metal smelting and rolling processing industry increased by 0.6%, among which the prices of gold smelting and copper smelting rose by 2.2% and 1.6% respectively. The overall supply of coal is stable with decreasing demand for heating coal, resulting in a 1.6% drop in the prices of the coal mining and washing industry. Affected by the sluggish property market, the demand for industries such as steel and cement is recovering relatively slowly, leading to a 1.2% decrease in the prices of both ferrous metal smelting and rolling processing industry and cement manufacturing. The prices of lithium-ion battery manufacturing and new energy vehicle manufacturing have decreased by 0.9% and 1.3% respectively, and computer communication and other electronic equipment manufacturing remained flat.
*REACHES HIGHEST LEVEL SINCE FEBRUARY 2023
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NBS PMI breakdown:
The new order index is at 51.1%, a decrease of 1.9 percentage points from the previous month, but still within the expansion zone, indicating that the market demand for manufacturing continues to recover.
Looking at external ...
Macquarie Ups XIAOMI Target to $31.24 Amid Growth Surge
The analysis underscores Xiaomi's expansion into electric vehicles (EVs) and retail stores, projecting a 21% sales CAGR over three years. Macquarie maintains an Outperform rating, with a revised target price of $31.24, and inclusion in the Asia Marquee Buy list.
Ma...
$Hang Seng Index(800000.HK)$ > 18,000.
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For January-March:
Joint-equity's profit grew by 0.8% to 1.12 trillion yuan
Foreign ventures+HK+Macau+TW rise 18.1% to 0.37 trillion yuan
Private enterprises +5.8% to 0.368 trillion yuan
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JPM: XIAOMI-W Smartphone Growth Strong; NEV Shipments, GMs Hike
Electric vehicle (EV) momentum beats expectations, with positive gross profit margin (GPM) expected in 2024 and a possible 5-10% GPM in 2025, while operating expenses are also under control.
XIAOMI expects smartphone sales to grow by around 10%, and average selling price (ASP) to continue to ris...
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The downbeat trade data, coupled with releases Thursday showing a sharp retreat in consumer price inflation cast doubt about the strength of China's recovery.
Exports -3.8% y/y
Imports +2.0% y/y
Trade balance at $58.55 bln in USD term, Est.$70.2 bln
Exports -7.5% y/y, Est. -3.0%
Imports -1.9% y/y, Est. +1.2%
CHINA JAN-MAR TRADE VALUE INCREASED BY 5% Y/Y TO 10.17 TRILLION YUAN, FASTEST IN 6 QUARTERS.
EXPORTS +4.9% TO 5.74 TL...
CHINA PPI BREAKDOWN:
PPI -0.1% m/m, with a -0.1% input prices and producer prices for consumption goods remained at -0.1%.
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CHINA CPI BREAKDOWN:
The core CPI rose by 0.6% y/y, vs 1.2% y/y in Feb, increased modestly.
Food prices dropped by 3.2% y/y, expanded by 2.3 percentage points, due to weaker demand after the holiday.
Pork prices dropped by 6.7% y/y, vs +0.2% y/y in Feb.
Vegetables and fruits have declined by 11% and 4.5% from February.
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