Daily Investment Strategy
Daily focus：China Mobile（941）
Recorded steady growth in the first quarter of 2025. According to the latest unaudited financial report, the group's operating revenue reached RMB 263.8 billion, a slight YoY increase of 0.02%, in line with market expectations. Among this, communication service revenue grew by 1.40% to RMB 222.4 billion, indicating stable expansion of core business. EBITDA was RMB 80.7 billion, up 3.44% YoY, and profit attributable to shareholders reached RMB 30.6 billion, up 3.45%, reflecting enhanced profitability mainly driven by reduced operating expenses.
US companies become more pessimistic about future outlook
The latest Beige Book released by the U.S. Federal Reserve shows that while the overall economy remains relatively stable, uncertainty has clearly increased, particularly due to growing concerns nationwide regarding international trade policies and tariffs. The report indicates that only five Federal Reserve districts recorded slight growth, three districts saw their economies remain flat, while the remainder experienced slight to moderate declines. On the price front, most businesses have already received price increase notices from suppliers and plan to pass these costs on to consumers, thereby driving up consumer prices. Overall, business outlook has turned more pessimistic, with expectations that economic activity and demand may come under further pressure
On Wednesday, the Southbound Stock Connect recorded a net outflow of HKD 18.1 billion. Meituan (3690) had the highest net inflow, amounting to HKD 557 million, followed by Akeso (9926). On the other hand, the Tracker Fund of Hong Kong (2800) recorded the highest net outflow, amounting to HKD 9.07 billion, followed by the Hang Seng China Enterprises Index ETF (2828).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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