Daily Investment Strategy
Daily focus：CALB（3931）
Recorded total operating revenue of approximately RMB 6.896 billion in the first quarter of 2025, an increase of about 42.0% compared to RMB 4.856 billion in the same period last year, indicating continuous business expansion. Net profit reached approximately RMB 357 million, an increase of about 75.4% compared to RMB 204 million in the same period last year, with net profit attributable to the parent company's owners being RMB 230 million. The net cash flow from operating activities was approximately RMB 608 million, a significant improvement compared to negative RMB 201 million in the same period last year, reflecting enhanced cash recovery capabilities from operations.
China's Core Inflation Growth Rate Remains Unchanged
The National Bureau of Statistics of China announced that the Consumer Price Index (CPI) for April remained unchanged at -0.1% year-on-year, while it increased by 0.1% month-on-month. Core inflation maintained an annual growth rate of 0.5%, with the monthly growth rate rising from 0.0% last month to 0.2%. On the other hand, the decline in the Producer Price Index (PPI) for industrial production continued to expand for the second consecutive month, with the latest report showing a year-on-year decrease of 2.7%, further down by 0.2 percentage points from the previous value; the monthly decline remained at 0.4%. Additionally, the decline in the Producer Price Index for inputs also increased, mainly due to international factors affecting domestic industry prices. Changes in the international trade environment and the rapid decline in prices of some international bulk commodities have influenced the decrease in domestic industry prices.
On Friday, the Hong Kong Stock Connect recorded a net inflow of HKD 40.4 billion, with Hua Hong Semiconductor (1347) recording the highest net inflow of HKD 516 million, followed by Pop Mart (9992). Xiaomi Group (1810) recorded the highest net outflow of HKD 635 million, followed by Tencent Holdings (700).
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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