Breakfast | NVIDIA to launch Blackwell Ultra AI chip next year, Tesla holds shareholder meeting

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Overnight Morning Market

Important events and data preview for this week - the European Central Bank's first rate cut is coming, and the US May non-farm payrolls are on stage.

Monday: China's May Caixin Manufacturing PMI; US May final Markit Global Manufacturing PMI, US May ISM Manufacturing PMI, US April Construction Spending MoM. Tesla's 2024 Annual Shareholders Meeting.

Tuesday: US April JOLTs Job Openings; US April Factory Orders MoM. US Treasury Secretary Yellen attends the Senate Committee's fiscal budget hearing.

Wednesday: China's May Caixin Services PMI; US May ADP Employment Change; US May final Markit Global Services PMI; US May ISM Non-Manufacturing PMI.

Thursday: US Initial Jobless Claims up to June 1st, US April Trade Balance. The European Central Bank announces its interest rate decision, ECB President Lagarde holds a monetary policy press conference. Nio, Meituan financial reports.

Friday: China's May Trade Balance; China's May Foreign Exchange Reserves; US May Unemployment Rate and May Seasonally Adjusted Non-Farm Payrolls; US April Wholesale Inventories MoM. NVIDIA conducts a 1-for-10 stock split.

Sunday: China may release May social financing data.

Last week, the Dow fell by 0.98%, the S&P 500 fell by 0.51%, and the Nasdaq fell by 1.1%. The Hang Seng Index fell by 2.84%, and the Hang Seng Tech Index fell by 2.86%.

In May, the Dow rose by 2.3%, the S&P 500 rose by 4.8%, the Nasdaq rose by 6.88%. The Hang Seng Index rose by 1.78%, while the Hang Seng Tech Index fell by 0.27%.

Blue Chips and Hot Stocks

Xiaomi Auto announced that starting from June 5th, the lock-up period for large orders will be shortened from 7 days to 3 days; in May, 8,646 units of the Xiaomi SU7 series vehicles were delivered, and production will shift to double shifts in June, with a cumulative delivery of 15,764 units.

May performance report for new energy vehicle companies: Nio, ZEEKR hit historical highs

1. Nezha Auto: delivered a total of 10,113 vehicles in May.

2. Li Auto delivered 35,020 vehicles in May, a year-on-year increase of 23.8%.

3. GAC Aion sold 40,073 vehicles globally in May, a month-on-month increase of 42.5%.

4. Nio delivered 20,544 vehicles in May, setting a new monthly delivery record for the company.

5. XPeng: delivered 10,146 vehicles in May, a 35% year-on-year increase and an 8% month-on-month increase.

6. Aito announced on June 1st that a total of 4,569 vehicles were delivered in May 2024, a 163% year-on-year increase.

7. Xiaomi SU7 delivered 8,630 vehicles in May, and will start double-shift production in June to ensure a monthly delivery of 10,000 vehicles.

8. ZEEKR delivered 18,616 vehicles in May 2024, a 115% year-on-year increase and a 16% month-on-month increase, setting another historical high.

9. Voyah delivered 4,521 vehicles in May, a 51% year-on-year increase. The cumulative sales volume from January to May was 24,869 vehicles, a 107% year-on-year increase.

10. Leapmotor: delivered 18,165 vehicles in May 2024. It is understood that Leapmotor delivered 15,005 vehicles in April 2024

SAIC Group: Sales of new energy vehicles reached 81,000 units in May; from January to May, SAIC Group sold 365,000 new energy vehicles, a year-on-year increase of over 27%.

Richard Yu, Chairman of Huawei Intelligent Automotive Solutions BU: Some Chinese companies like to compete on price, sacrificing user experience and quality safety. Huawei aims to pursue value. Let BYD compete on price, we want to compete on value. Huawei's automotive BU lost over 10 billion RMB the previous year, but turned losses into profits two years ahead this year, thanks to the successful sales of Smart Selection cars. In terms of autonomous driving capabilities, Tesla leads internationally, while Huawei leads domestically. Internally, there is consideration on whether to manufacture hardcore off-road vehicle models.

Tesla: Starting today, the high-performance version of Model 3 will transition from pre-sale to official sales, with the first batch of deliveries expected to begin in mid-June.

According to the Financial Times: Tens of thousands of international Tesla retail shareholders holding around $17 billion worth of shares may not be able to vote at the annual meeting due to the investment platforms' failure to establish a comprehensive cross-border system.

Tianqi Lithium: Important affiliate signs significant contract

Affiliate company SQM announced the signing of a "Partnership Agreement" with Codelco, intending to establish a partnership by incorporating Codelco's subsidiary Minera Tarar into SQM's subsidiary SQM Salar (referred to as the "Joint Venture Company"), to develop activities related to the extraction and production of lithium, potassium, and other products in the Atacama salt flat area currently leased from Corfo by SQM, as well as subsequent sales.

SF Holding's Hong Kong listing approved by the China Securities Regulatory Commission

Tencent to acquire 10% stake in top Thai music company before its IPO

Tencent will acquire a 10% stake in GMM Music, a subsidiary of GMM Grammy, which plans to make its debut public offering in Thailand. Tencent Holdings and Tencent Music will obtain shares in Thailand's largest music company through cash payments and stock swaps. Tencent's investment in GMM Music is valued at around $700 million.

WeChat's official rumor-refuting platform: The rumor that "WeChat Pay is required to reduce market share" is false.

Chips and Artificial Intelligence

Huang Renxun: NVIDIA will launch the Blackwell Ultra AI chip in 2025, and the next generation AI platform will be named Rubin.

NVIDIA introduces AI model inference microservice NVIDIA NIM

NVIDIA announced the launch of an AI model inference service, NVIDIA NIM, at Computex (Taiwan's international computer exhibition). Developers can easily build generative AI applications such as copilots and ChatGPT chatbots, reducing the required time from weeks to minutes.

NVIDIA: Collaborating with computer manufacturers to build AI factories and data centers for the next industrial revolution

NVIDIA, in collaboration with several top computer manufacturers worldwide, unveiled a system called "Array" supported by the NVIDIA Blackwell architecture. It is equipped with Grace CPUs, NVIDIA networking devices, and infrastructure to help enterprises build AI factories and data centers, driving the next wave of generative artificial intelligence breakthroughs. Huang Renxun exclaimed, "The next industrial revolution has already begun."William Li of NIO: NIO is "crazy" in terms of computing power, the ceiling for the next one or two years

Li Bin stated that the self-developed intelligent driving chip, Shenqi NX 9031, is progressing smoothly, calling it a chip customized for large models, with performance in transformer-like algorithms 6.5 times that of the world's strongest chip. NIO's second-generation platform models now have 1016T of computing power, which will still be the global ceiling in the next one or two years.

Ant Group establishes a confidential computing company, with Vice President Wei Tao serving as chairman.

Startups and IPO Opportunities

British media: SHEIN will submit a prospectus in London, seeking a valuation of £50 billion.

Saudi Aramco launches a secondary stock offering, selling a total of 1.545 billion shares of Saudi Aramco stock, accounting for approximately 0.64% of the company's issued shares. The fundraising scale exceeds $10 billion.

Macro: Taking You Around the World

Suzhou: No longer reviewing qualifications for purchasing homes across the city, non-Suzhou residents who own legal property rights and actually reside in Suzhou can apply for household registration. Canceling the lower limit of interest rates for first and second home individual housing loans. Increasing the maximum loan amount.

New move by Trump after being convicted: Joining TikTok, with over a million followers