早餐 | 美股交易结算周期即将从 T+2 变成 T+1，中国恒大清盘人谋划资产处置

Good morning! A great day starts with making money.

Today, the U.S. stock market is closed in observance of Memorial Day.

Overnight and This Morning Market Update

In the early Asian session, the futures of the three major U.S. stock indexes opened slightly higher.

Key events and data releases for this week: Fed's key indicators, OPEC+ meeting

Monday: Earnings releases from Alibaba Health and others; 9th trilateral summit between China, Japan, and South Korea; Addition of 8 cities for mainland China's "individual tourist endorsement" to Hong Kong and Macau.

Tuesday: U.S. March 20-city home price index, May Conference Board Consumer Confidence Index; Earnings releases from Futu Holdings, Faraday Future, etc. Fed officials Mester and Bowman participate in a group discussion at the Bank of Japan's Institute for Monetary and Economic Studies; U.S. stock trading settlement cycle changes from T+2 to T+1.

Wednesday: Earnings releases from Salesforce, HP, etc. Public hearing for the U.S. "Section 301 investigation" on China's shipbuilding industry.

Thursday: U.S. API Crude Oil Inventories and EIA Crude Oil Inventories, U.S. Initial Jobless Claims up to May 25, U.S. Q1 GDP Annualized Rate revision; Earnings releases from Dell, Costco, etc. Fed releases Beige Book; Fed officials Williams and Bostic deliver speeches. Baidu Mobile Ecosystem Conference held.

Friday: China's official Manufacturing PMI for May, U.S. April Core PCE Price Index and Personal Spending Rate; Speeches by Fed officials Williams, Logan, and Bostic.

Saturday: CFTC releases weekly Commitments of Traders report; New regulations on virtual asset trading platforms in Hong Kong take effect.

Blue Chips and Hot Stocks

Evergrande Group plans to dispose of assets, aiming to sell 29% stake in Evergrande Auto

Evergrande Group, Evergrande Health Industry Group Limited, Acelin Global Limited, and third-party buyers have signed an agreement to sell their stake in Evergrande Auto. Evergrande Group holds approximately 6.347 billion shares of Evergrande Auto, accounting for about 58.5% of all issued shares, which will be put up for sale. About 3.14 billion potential shares will be immediately repurchased, representing around 29% of Evergrande Auto's issued shares. Evergrande Auto will also receive a credit agreement from this transaction, providing financial support for its ongoing operations and development in the electric vehicle business.

Beijing Medical Insurance Bureau: Conducting online payment tests for non-prescription drugs on JD and Meituan platforms.

U.S. military signs over $7.4 billion arms sales contract with Boeing, involving supply and maintenance services for components related to Joint Direct Attack Munitions.

Tesla: Autopilot makes driving 11.4 times safer than average

Tesla announced on the 25th that vehicles with Autopilot engaged have an average safe driving distance of 12.28 million kilometers. This marks the first time Autopilot's safety level has exceeded regular driving by 10 times.

Li Ka-shing's Cheung Kong Group launches three new housing projects in Hong Kong with discounts ranging from 23% to 32%. Cheung Kong Group Chairman and Managing Director Victor Li responded, "Pricing of properties cannot be generalized. Pricing is determined based on the unique conditions of each property, including location, transportation, surrounding environment, and market conditions at the time." Nio's Li Bin recommends battery swapping to Xiaomi's Lei Jun: Vehicle transformation into a battery-swapping model only increases costs by 1,000 yuan, just need to "do some chassis adaptation". At the same time, models with battery-swapping capabilities can attract more consumers, and the expected market increment "can be increased by 10%-20%".

Chips and Artificial Intelligence

China Telecom has released its first intelligent cloud computing capability system.

According to The Information: Musk's AI startup x AI may cooperate with Oracle in supercomputing.

Li Zhenhua, Director of Ant Group Research Institute: AI companies without cloud services have no future. Invest more in technological innovation, focus on artificial intelligence and data element technology.

IPO Opportunities

After a three-and-a-half-year hiatus, the Hong Kong Stock Exchange's GEM IPO "opens again"

Youbo Holdings passed the hearing for listing on the Hong Kong Stock Exchange's GEM and plans to IPO on June 3. This is nearly three and a half years since the last GEM IPO, when Yucheng Logistics landed on the GEM on January 13, 2021. The GEM listing reform measures officially took effect on January 1 this year.

Macro: Taking You Around the World

Bank of America: NVIDIA's "1-for-10 split" may kick off the tech stock split trend

The stock prices of several well-known tech companies are high enough to consider similar stock splits. Among the seven giants, Microsoft and Meta are close to this threshold, with Broadcom, AMD, and Netflix also being candidates. The significance of stock splits is more psychological than fundamental. Bank of America sees stock splits as a "sign of strength", and companies that split their stocks often achieve strong returns in the following year.

The 10th Ministerial Conference of the China-Arab States Cooperation Forum will be held in Beijing on May 30. President Xi Jinping will attend the opening ceremony of the conference and deliver a keynote speech.

French President Macron arrives in Germany to begin a three-day state visit. This is the first state visit by a French President to Germany in 24 years