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Times Electric (3898): reported solid fundamentals, with revenue reaching RMB 28.703 billion in 2025, a year-on-year increase of 15.2%; net profit was RMB 4.097 billion, an increase of 10.6%. Revenue is projected to climb to RMB 32.288 billion in 2026, with net profit further increasing by 12.3% to RMB 4.602 billion. In its business segments, rail transit revenue increased by 15.1% year-on-year to RMB 2.7 billion in the first quarter. The power semiconductor segment is experiencing a turning point, driven by AI and data centers, with recent industry price increases reaching 10% to 25%. The company's 8-inch SiC fab is expanding smoothly, reaching full capacity of 15,000 to 20,000 wafers per month, which is expected to drive the segment's profit margin back to over 20%.

Nvidia and SK Hynix officially announced a multi-year cooperation plan

Nvidia and SK Hynix officially announced a multi-year cooperation plan, securing advanced memory supply. Nvidia CEO Jensen Huang stated that "the agreement will exceed two years and we have the capability to renew it continuously." Nvidia and SK Hynix officially announced a multi-year strategic cooperation—jointly developing next-generation memory chips covering the entire stack of platforms from AI supercomputing and personal PCs to robotics—and securing long-term supply guarantees. Nvidia CEO Jensen Huang warned that memory shortages "will continue for several years."

Hong Kong Stock Connect saw a net inflow of HK$11.318 billion on Monday, with the Tracker Fund of Hong Kong (02800) seeing the largest inflow at HK$5.595 billion, followed by Tencent Holdings (00700). SMIC (00981) recorded the largest net outflow at HK$925 million, followed by Meituan-W (03690).