Daily Investment Strategy
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Leapmotor (9863): projected revenue of RMB 64.73 billion in 2025, a year-on-year increase of 101.3%. Total deliveries for the year reached 596,555 units, a year-on-year increase of 103.1%. The company successfully turned a profit, recording a net profit of RMB 540 million, a significant improvement compared to a loss of RMB 2.82 billion last year. Looking ahead, the company will launch several new models, including the A series and D platform models, to support its future growth targets and continue to advance strategic partnerships with major automakers to deepen its global footprint. In summary, the company had RMB 37.88 billion in cash on hand at the end of the year. Although it has successfully crossed the profit inflection point, whether it can effectively control the surge in operating expenses in the face of fierce industry competition will be a concern for investors.
Oil and Inflation at Crossroads Amid Iran War
The conflict with Iran entered its third week, with US President Trump issuing stronger warnings to allies and demanding military support, leading to market expectations that the risk to oil supply is temporarily under control. The Fed's interest rate meeting this week will hinge on whether high oil prices will reignite inflation and delay rate cuts. If oil prices surge again, long-term interest rates and growth stock valuations may be further suppressed; conversely, if energy supply gradually recovers and oil prices stabilize, energy, defensive, and high-quality technology stocks with strong cash flow and pricing power are expected to benefit from both peaking interest rates and a recovery in risk appetite.
Hong Kong Stock Connect saw a net outflow of HK$1.25 billion on Monday, with Tencent Holdings (0700) experiencing the largest inflow at HK$2.29 billion, followed by Alibaba-W (9988). The Tracker Fund of Hong Kong (2800) recorded the largest net outflow at HK$3.57 billion, followed by Xiaomi Group-W (1810).
Leung Kai Tong 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/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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