港股开盘，恒指开跌 0.03%，科指开涨 0.02%。科网股多数上扬，百度涨 2.29%，黄金股持续活跃，灵宝黄金涨近 5%。

Tesla's 2024 got off to a bad start, with a difference of nearly 50,000 vehicles in production and sales data. Inventory data confirms that Tesla may have a serious demand shortage issue. Analysts are alarmed, calling the first-quarter delivery volume an inexplicable disaster

"Thought it would be bad, didn't expect it to be this bad!", Tesla falls from grace

台湾电力公司：台湾核电厂运营正常，台湾电力分配系统已经稳定。

什么才是阿里的核心业务？答案很快呼之欲出：吴泳铭同时兼任 CEO 的淘天和阿里云，以及他提到的第一批四大战略级创新业务 1688、闲鱼、钉钉和夸克都毫无疑问是核心。

变革一年后，阿里赌注抬升

比特币跌破 65000 美元/枚，日内跌 1.14%。

米哈游四大老板，身价飙至 1635 亿。该游戏公司成立不久便有四位顶级富豪，其中蔡浩宇成为了去年国内财富增长第二快的游戏新贵。四人合计身价已达 1635 亿元，但与腾讯、网易等老牌游戏巨头相比，米哈游仍存在差距。

米哈游四大老板，身价飙至 1635 亿

美国平均房价超过 100 万美元的城市数量创下了历史新高，根据房地产网站 Zillow 的一份报告，目前有 550 个城市的典型房屋价值超过七位数，这是有记录以来所谓 “百万美元城市” 数量最多的一次。加州是 “百万美元城市” 最集中的地区，有 210 个城市的平均房价超过 100 万美元。根据 Zillow 的数据，今年 2 月美国中位数房价为 34 万 9216 美元，已经比年初上涨了 4%。

美国 550 城房价超百万美元，创历史纪录

在传出地震报道后，美元/日元小幅走低，东证指数走低。鉴于交易员头寸倾向于做空日元，可能出现下意识的空头回补反应。

雷军发微博称，三年前的豪言壮语，今天变成了现实，我会将一台台崭新的小米 SU7 亲自交到首批车主手上。从今天开始，小米正式成为一家车厂。

雷军：今天会将一台台崭新的小米 SU7 亲自交到首批车主手上

S&P and Dow Jones both fell for two consecutive days. Tesla dropped for the third consecutive day, with quarterly deliveries far below market expectations. Intel's transformation suffered setbacks, with losses in its contract manufacturing business widening. Xi Jinping stated that the US's economic, trade, and technological suppression against China is not about "reducing risks" but creating risks. Boeing secured a contract worth up to USD 559 million from the US Air Force over the next five years. HSBC is reportedly considering selling part of its business in Germany. Huawei plans to distribute dividends to shareholders totaling RMB 77.095 billion

Breakfast | US stocks, bonds, and forex are all down, "Several key principles must be adhered to in Sino-US relations this year"

马斯克公司特斯拉成为奥斯汀地区最大的私人雇主，员工人数去年增长 86%，达到 22777 人。奥斯汀是特斯拉超级工厂的所在地，该公司在这里生产 Model Y 和 Cybertruck。马斯克旗下的 Neuralink 公司在奥斯汀有 300 名员工，而 SpaceX 也在德克萨斯州有大量业务。

马斯克成奥斯汀地区最大私人雇主，坐拥 6000 英亩土地

彭博汇总数据显示，美国投资顾问公司 Driehaus Capital Management 旗下规模 28.9 亿美元的新兴市场成长基金在 2 月份建仓做多中国石油 H 股等八只股票，清仓淡水河谷 ADR 等八只股票。增持台积电、新东方 ADR、金沙中国等 73 只股票，减持拼多多和腾讯控股等 24 只股票。重仓股包括台积电、三星电子、腾讯控股等。

跑赢 94% 同行的 Driehaus 新兴市场基金大手笔买进中石油，出清联想

TotalEnergies SE(TTE) rose 2.81%, with a trading turnover 239.6 Million USD, and a year-to-date rose 7.7%. Shell(SHEL) rose 2.71%, with a trading turnover 556.8 Million USD, and a year-to-date rose 7.1%. Unitedhealth(UNH) fell 6.44%, with a trading turnover 5.4 Billion USD, and a year-to-date fell 12.7%. Tesla(TSLA) fell 4.9%, with a trading turnover 19.3 Billion USD, and a year-to-date fell 32.9%.

Top 5 US Stock Gainers/Losers (>100B) (4.2)

Verve Therapeutics(VERV) fell 34.95%, with a trading turnover 81.8 Million USD, and a year-to-date fell 40.3%. PVH(PVH) fell 22.22%, with a trading turnover 729.2 Million USD, and a year-to-date fell 11%. Humana(HUM) fell 13.41%, with a trading turnover 2.9 Billion USD, and a year-to-date fell 33.4%.

Top 10 US Stock Losers (4.2)

Canopy Growth(CGC) rose 10.89%, with a trading turnover 276.8 Million USD, and a year-to-date rose 63.4%. ChampionX(CHX) rose 10.4%, with a trading turnover 638.4 Million USD, and a year-to-date rose 34.2%. Reddit(RDDT) rose 9.75%, with a trading turnover 457.3 Million USD, and a year-to-date rose 48.4%.

Top 10 US Stock Gainers (4.2)

Yatsen(YSG) rose 12.23%, with a trading turnover 1.1 Million USD, and a year-to-date fell 29.7%. Iczoom(IZM) rose 10.55%, with a trading turnover 2.3 Million USD, and a year-to-date rose 15.5%. Microvast(MVST) fell 34.08%, with a trading turnover 8.5 Million USD, and a year-to-date fell 57.9%. EHang(EH) fell 12.75%, with a trading turnover 53.5 Million USD, and a year-to-date rose 6%.

Top 5 CDRs Gainers/Losers (>100M) (4.2)

Despite facing declining revenue and expanding losses in the wafer foundry business, Intel remains optimistic about the future development of this division

Intel's wafer foundry business is expected to incur a loss of $7 billion in 2023, with the stock price dropping more than 4% after hours

Apple's stock price has fallen by more than 10%, with a market value evaporating by about $330 billion. Traders are looking for signs that the worst may be over. Compared to other large tech companies, Apple is undervalued. Microsoft has a market value close to $3.1 trillion, while Apple is at $2.7 trillion. The market believes that Nvidia is replacing Apple as the tech giant worth owning. Apple has shown no performance in artificial intelligence, faces regulatory threats, and is experiencing a slump in iPhone sales

Is it time to "buy the dip"? Analyst: Apple's darkest moment may have passed

消息人士称，比特币 ETF 将被添加到瑞银平台，将于下周广泛使用。瑞银管理着 3.5 万亿美元的全球财富。

比特币 ETF 据称将被添加到瑞银平台

On Tuesday, most Bitcoin concept stocks fell. As of the time of publication, Marathon Digital and MicroStrategy both dropped over 7%, Riot Blockchain fell over 6.5%, Canaan Technology fell over 6%, and Coinbase fell over 2.7%. Bitcoin fell below $65,000 per coin for the first time since March 24th, dropping 6.84% intraday

U.S. Stock Market News | Bitcoin falls below $65,000 per coin, leading to a decline in Bitcoin-related stocks

Xiaomi's entry into the crowded EV market poses a threat to Tesla, as it has deeper pockets and expertise in smart dashboards. Tesla has already faced intense competition and unsatisfactory growth in China, leading to production cuts. The overall growth of EVs in China has also slowed down, impacting both Tesla and BYD. With Xiaomi's promising pre-order numbers for its electric sedan, Tesla's troubles may worsen.

Xiaomi's Entry To An Already Crowded EV Market Could Make Things Even Worse For Tesla

Guizhou Maotai has exceeded its annual growth target of 15%, with a net profit of 74.734 billion yuan, equivalent to earning 2.04 billion yuan net profit per day last year. The company plans to distribute 308.76 yuan for every 10 shares, compared to the cash dividend of 38.786 billion yuan last year, setting a new record for total dividends. Maotai has attracted a large number of young consumers, with a user base exceeding 65 million, and the recent daily active users reaching 7 million

Making 204 million yuan per day! Guizhou Maotai exceeded its 2023 target, with total revenue surpassing 100 billion, setting a record for dividends | Financial Report Insights

Alibaba Group has repurchased shares worth $4.8 billion, the largest ever quarterly share repurchase for the Chinese e-commerce giant. The company increased its buyback plan by $25 billion to address concerns over its growth prospects. Alibaba's shares have declined this year due to lower earnings, per-user spending, and increased competition. The company reported a 77% slump in net income for the third quarter. Alibaba is currently undergoing a restructuring and refocusing on its core business.

Alibaba makes biggest ever quarterly share repurchase worth $4.8 bln

Tesla delivered far below analysts' average estimate in the first quarter, with 449,080 vehicles delivered. The delivery volume of Model 3/Y decreased by 10% year-on-year

Tesla pre-market fell nearly 7%! Delivering 386,800 vehicles in the first quarter, marking the first year-on-year decline in 2020

ProShares 比特币策略 ETF 下跌 7.4%。

比特币失守 6.5 万美元/枚，美股加密股走低，MicroStrategy 跌 8.7%，Coinbase 跌 5.8%，Robinhood 跌超 6%。

Tencent's major shareholder Naspers continues to reduce its holdings in Tencent by about 50.9 million shares, reducing its stake to 2.326 billion shares. Tencent plans to repurchase more than HKD 100 billion by 2024, demonstrating confidence in the value of its own stock and future prospects. With ample cash flow, Tencent's operating cash flow increased by 52% in 2023, and the company's cash and cash equivalents on hand are approximately HKD 172.3 billion. The CEO of Tencent stated that increasing repurchases is most beneficial to shareholders, and it is expected that cash flow will continue to grow this year

Over 50 million shares! Tencent once again faces significant reduction in holdings by major shareholders. Can the 100 billion buyback plan withstand the pressure?

比特币失守 65000 美元/枚，为 3 月 24 日以来首次，日内跌 6.84%。

Chinese EV giants XPeng and NIO experience premarket declines despite positive delivery figures, reflecting ongoing volatility in the sector. XPeng delivered 9,026 Smart EVs in March, a 99% increase from the prior month. NIO delivered 11,866 vehicles in March, a 14.3% increase year-over-year.

What's Going On With Chinese EV Stocks XPeng & NIO on Tuesday?

美股股指期货周二盘前小幅下滑，交易商降低对美联储降息的预期，并等待本周稍晚的美国非农就业报告。黄金无惧美国强劲数据，再度刷新历史高位。道指期货、标普 500 指数期货和纳指期货均出现下跌。欧洲股市也普遍下跌。WTI 原油和布伦特原油价格上涨。美国制造业增长数据引发对美联储降息预期的疑虑。全球债券下跌，借贷成本上升。美股与降息预期脱节加剧。黄金股继续上涨，区块链概念股走低。比特币价格回落。

美股盘前消息速递

Upstream and downstream accelerating resonance

Track Hyper | Yang Yuanqing: Lenovo is about to be the first to release AI PC

Boya Interactive plans to invest $1 million and strategically cooperate with Pacific Waterdrip to promote the group's business development and layout in the Web3 field. The investment will mainly be used for blockchain projects in the metaverse, non-fungible tokens, and Web3 infrastructure. In addition, the group will collaborate with Pacific Waterdrip to develop Web3 games and explore the Bitcoin ecosystem. This investment and cooperation will further develop the group's business in the Web3 field, leveraging the group's experience in the internet gaming sector to create a pure and leading Web3 listed company

Boya Interactive plans to invest $1 million in a fund and strategically cooperate with Pacific Waterdrip to further promote the group's business development and layout in the Web3 field

Wang Jianlin attracted a 60 billion yuan major investor

Huang Renxun released the world's most powerful AI chip Blackwell on GTC, promoting the development of generative AI. He also unveiled a multimodal humanoid robot model and robot chip, calling it "NVIDIA's soul". The humanoid robot is capable of sensing the world, making decisions, executing tasks, and engaging in conversations with humans. In addition, an artificial intelligence robot company named Figure has introduced a robot called Figure 01, which has a certain level of response speed and the ability to understand human intentions

Far more than the B200, this is the soul of NVIDIA

Bank of America refers to Micron Technology, Intel, and AMD as the "new three warriors" in the AI chip field, stating that they are expected to dominate "profitable niche markets"

Bank of America: Don't just focus on NVIDIA when it comes to chip stocks, there are three other companies worth considering as well

The company plans to issue 19.1 million shares of stock at a price of $20 - $22 per share, raising $400 million. Based on the midpoint of the proposed range, PACS Group's fully diluted market value will reach $3.2 billion

American healthcare giant PACS IPO pricing may reach as high as $22 per share, with an estimated valuation of around $3.2 billion USD

Western Digital rose by 3.8%, also hitting a new high for the period

WSB Hot Discussion | Storage chips are hot, Micron hits a new high

Li Auto and Bilibili rose more than 2% in pre-market trading, Pinduoduo rose nearly 1%, Alibaba fell nearly 1%, XPeng, Nio, NetEase, and Baidu fell more than 1%. Microstrategy fell more than 7%, Marathon Digital fell more than 5%, Coinbase fell 3%. DJT briefly fell 5%, Xiaoniu Electric briefly rose 10%, AST SpaceMobile briefly fell more than 11%

Pre-market trading in US stocks: Tesla fell nearly 2%, leading the decline in technology stocks, while cryptocurrency stocks continued to plummet

Hard to escape the "production capacity hell"

Xiaomi's car locks in 40,000 orders, Lei Jun also has to sleep in the factory

比特币短时跌破 66000 美元，日内跌 3.5%，近 2 日累计跌超 6%。

Goldman Sachs believes that Xiaomi's car SU7, with orders far exceeding expectations and a more balanced product mix among three versions, implies stronger sales and average selling price potential than expected. The bank believes that the improvement in Xiaomi's manufacturing capabilities may become the primary focus in the coming months: if the factory adopts a two-shift system, there will be a 100% increase in production capacity

Rating Quick Look | Xiaomi's target price significantly raised! Tencent "Buy", SenseTime "Significantly reduced price"

新加坡金融管理局将扩大数字资产规则监管范围，以加强对加密资产的监管。修订后的规则将涵盖代币的托管和资金转移公司，并旨在实施用户保护和金融稳定要求。此举是为了发展新加坡的数字资产中心，促进区块链技术的有效使用。新加坡还计划限制散户投资者的加密货币投机行为。这些措施将带来监管清晰度，吸引数字资产企业。这是对加密货币历史的认可。

新加坡扩大数字资产规则监管范围 为加密资产 “正名” 推进一步

Goldman Sachs warns that the future 6-month return rate of the S&P 500 will significantly decrease. The current valuation level is already close to the high point in January 2022. The previous round of selling triggered by inflation started from a similar high point

Goldman Sachs: S&P 500 and the "Seven Sisters" have all risen too much!

Overnight hottest contracts: Tesla puts with an expiration date of April 5th and a strike price of $170, with a trading volume of over 90,000 contracts. Micron Technology options trading doubled to 510,000 contracts, with call options accounting for 68%. Alibaba options trading surged to 150,000 contracts, with call options accounting for 79.5%

US Stock Options | Tesla, Nvidia collectively fall in trading! Alibaba, Micron Technology trading surges!

乘联会：特斯拉中国三月份销售了 89,064 辆汽车。

TCL ELECTRONICS(01070) rose 26.15%, with a trading turnover 153.0 Million HKD, and a year-to-date rose 40%. 华晨中国(01114) rose 25.93%, with a trading turnover 935.7 Million HKD, and a year-to-date rose 56.3%. ANDRE JUICE(02218) rose 17.98%, with a trading turnover 21.2 Million HKD, and a year-to-date rose 30.1%.

Top 10 HK Stock Gainers (4.2)

WEIMOB INC(02013) fell 16.15%, with a trading turnover 275.2 Million HKD, and a year-to-date fell 44.1%. HARBIN ELECTRIC(01133) fell 14.5%, with a trading turnover 43.0 Million HKD, and a year-to-date rose 8.2%. AINNOVATION(02121) fell 13.08%, with a trading turnover 66.0 Million HKD, and a year-to-date fell 31.2%.

Top 10 HK Stock Losers (4.2)

BOC HONG KONG(02388) rose 9.55%, with a trading turnover 893.1 Million HKD, and a year-to-date rose 8.3%. TRIP.COM-S(09961) rose 9.21%, with a trading turnover 1.3 Billion HKD, and a year-to-date rose 35.8%. NTES-S(09999) fell 6.88%, with a trading turnover 1.8 Billion HKD, and a year-to-date rose 9.1%. PSBC(01658) fell 3.42%, with a trading turnover 417.7 Million HKD, and a year-to-date rose 5.9%.

Top 5 HK Stock Gainers/Losers (>100B) (4.2)

Choosing the right industry is half the battle; picking the right stocks is fundamental; reading research reports well is twice the result with half the effort; leaving enough safety margin; the greatest enemy is human nature