Today's Important News Review | Dolphin Investment Research

0923 Dolphin's Focus:

🐬 Macro/Industry

1. The Hong Kong Stock Exchange has officially implemented arrangements to maintain market operations in severe weather conditions. Starting from September 23, 2024, securities trading conducted on the exchange or through the exchange (including northbound and southbound trading under the Shanghai-Hong Kong Stock Connect) will continue to operate in adverse weather conditions without suspending trading.

🐬 Individual Stocks

1. Meituan

Meituan announced its plan to issue USD-denominated notes, with the net proceeds mainly used for refinancing existing offshore debts and other general corporate purposes. Meituan opened higher today but closed down by 2.28%.

2. Nio

On September 19, Nio's sub-brand, Leador, launched its first car L60 with a price as low as 149,900 yuan, sparking a buying frenzy. Within three days of sales, orders exceeded 30,000. Despite the seemingly low price of Leador L60, the configuration is not low. It adopts a "low-price basic service + value-added service subscription" model, with battery rental instead of purchase, renting out at 599 yuan per month, and subscription required for advanced driver assistance systems like NOA on highways. In terms of production capacity, according to Li Bin's estimate, it is expected to reach 5,000 vehicles by October 2024, 10,000 vehicles by December, at least 16,000 vehicles by January next year, and 20,000 vehicles by March.

3. Intel/Qualcomm

Recent rumors in the tech industry about Qualcomm's possible acquisition of Intel have sparked discussions. Both companies have not yet made a clear response. In recent years, Intel's performance has declined significantly, and it is undergoing a major transformation, actively seeking "self-rescue." If this old chip giant is acquired by Qualcomm, it will undoubtedly have a significant impact on the chip industry. For Qualcomm, the difficulty of the acquisition is not small. Once such a large-scale acquisition is initiated, it will require approval from various countries' antitrust regulatory agencies. In the case of the chip industry, the obstacles will inevitably be greater.

🐬 Top Performing Sectors

A-share: Professional financial services, apparel retailers, consumer electronics;

Hong Kong Stock: Furniture/home furnishings/decorative materials retailers, tobacco, furniture/furniture manufacturers;

US Stock: Coal and consumable fuel, independent power and renewable energy electricity producers, footwear.

🐬 Tomorrow's Focus

None.

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