Hi, I am Dolphin Research!Bilibili (Minutes): Currently, four to five games are waiting for approval of their licensesBilibili: Game support, user return, is the small station looking to recover?Vipshop (Minutes): Expect to return to positive growth in the second half of the year, returning 75% of profits to shareholdersVipshop: Falling to the bottom again, is there any buyback support this time?Ctrip (Minutes): Stable demand for hotel and travel, will continue to increase marketing investmentLeapmotor (1Q25 Minutes): How can the 'most competitive player' in new energy make a successful counterattack?Ctrip: Another increase in revenue without profit growth, even the top student is facing challenges?Leapmotor: Competing with real strength, the chaotic new energy market has its 'irresistible charm'!"Big and beautiful" = "big deficit", will US stocks be dragged down by US bonds again?HSI quarterly review triggers stock fluctuations; Alibaba faces US scrutiny again｜Today's important news recapApril 2025 Retail Review: The trend of recovery after hitting bottom remains unchanged, tariffs have no impact for nowShell (minutes): If the property market worsens in Q3, there may be more supportive policiesAs long as you endure the real estate market's 'roller coaster', Longyi Beike will be fineNetEase (Minutes): Don't worry too much about the future PipelineAlibaba (Minutes): AI is a ten-year opportunity, takeout subsidies can replace marketing investment.AI needs a 'bloodletting' before revival, is Alibaba 'unwilling' to fight again?XPeng P7 facelift is "insanely cool"; How will Alibaba's answer sheet look when it draws its sword tonight? | Today's important news recapTENCENT (Minutes): AI will be prioritized for high-return advertising and top-tier gamesTencent: Investing wildly without hesitation, the stock king has been "scented" by AI!