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Sany Heavy Industry (6031): is projected to maintain strong profit elasticity in 2025. Full-year revenue reached RMB 89.7 billion, a year-on-year increase of 14.4%. Net profit attributable to shareholders surged 41.2% to RMB 8.41 billion, with basic earnings per share of RMB 0.98. The company's operational quality improved significantly, with net cash flow from operating activities increasing by 34.8% year-on-year to RMB 19.98 billion, a record high, providing ample momentum for long-term stable operations. Looking ahead, the company will steadfastly implement its globalization, digitalization, and low-carbon strategies. It anticipates that domestic infrastructure recovery and equipment upgrade demand will drive 10-15% growth in 2026, while overseas markets will benefit from robust mining investment, potentially maintaining a 20% growth rate.
The minutes of the Federal Reserve's March meeting
The anticipated ceasefire between the US and Iran triggered a sharp drop in international oil prices, with WTI crude oil closing down 12.47% (an intraday drop of over 16%), marking its largest single-day decline since 2020. Meanwhile, the minutes of the Federal Reserve's March meeting showed that officials raised their 2026 inflation forecasts due to the oil shock caused by the war, and "more officials" mentioned the possibility of interest rate hikes. Market expectations for interest rate cuts further diminished. However, the market still leans towards a ceasefire, leading to a global stock market rally, with the S&P 500 index posting its largest single-day gain since April 2025. The US dollar index fell to a one-month low, and the offshore RMB hit a three-year high.
Hong Kong Stock Connect saw a net outflow of HK$21.574 billion on Wednesday, with Alibaba-W (09988) experiencing the largest inflow at HK$1.999 billion, followed by Kuaishou-W (01024). The Tracker Fund of Hong Kong (02800) recorded the largest net outflow at HK$8.876 billion, followed by Xiaomi Group-W (01810).
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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