Daily Investment Strategy
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CALB (3931): demonstrated strong growth in the first quarter of 2026. According to China Accounting Standards (CAS), its revenue reached Rmb11.804 billion, representing a significant year-on-year (YoY) increase of 71%. Net profit attributable to shareholders was Rmb373 million, surging 62% YoY —a growth rate that ranks highest among industry peers such as CATL (+49% YoY) and EVE Energy (+32% YoY). Despite 1Q26 being impacted by the Spring Festival and a soft season for EV sales , the company's unit net profit rose to Rmb0.014/Wh (+12% YoY) , notably enhancing full-year earnings visibility. Overall, while CALB possesses strong growth potential through technological leadership and capacity release , persistent capital expenditure pressure and intense market share competition remain the primary focal points for future observation.
Optimism Over Trump-Xi Meeting Drives US Stocks Higher
The US-Iran ceasefire is on shaky ground, but hopes for this week’s Trump-Xi meeting fueled strong buying. All major US indices rose on Monday (May 11), with the S&P 500, Nasdaq, and PHLX Semiconductor hitting fresh record highs. Trump is set to visit China on May 13-15 for talks with Xi Jinping.
China’s April exports jumped 14.1% YoY, beating forecasts of 8.4%. Shipments to the US surged 11.3%, the fastest pace in 15 months. Strong exports may prompt Beijing to hold off on extra stimulus.Meanwhile, Baidu is pushing an A+H dual listing for its chip unit Kunlunxin, but the stock fell along with other new-economy names.
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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