Hong Kong and A-share rebates; New energy Collective Surge ｜Today's important news review

0311 ｜ Dolphin Research Key Focus:

🐬 Macro/Industry

1. Last night, U.S. stocks plummeted, with the S&P 500 index falling below the 200-day moving average, marking its first entry into what is referred to as the "danger zone" in the market. This was primarily due to tariffs raising investor concerns about high inflation and the U.S. economy potentially entering a recession. When asked whether the U.S. would face a recession this year, Trump did not rule out the possibility, stating that the economy is undergoing a "transition period." As a result, Hong Kong and A-shares experienced varying degrees of decline this morning, but both rebounded and turned positive by the end of trading. Additionally, Trump plans to meet with top business executives today, continuing to monitor for any "market support" signals.

2. The China Association of Automobile Manufacturers (CAAM) released data showing that in February, the production and sales of new energy vehicles reached 888,000 and 892,000 units, respectively, representing year-on-year growth of 91.5% and 87.1%. The sales of new energy vehicles accounted for 41.9% of total new car sales. The automotive industry has started off well, with new energy vehicles performing particularly well, leading to a collective rise in new energy vehicle stocks today.

🐬 Individual Stocks

1. $Tesla(TSLA.US)

On Monday, Tesla's stock price collapsed, more than halving from its historical high set last December, which is related to the uncertainty surrounding Trump's tariff plans. Canada and Mexico are key markets in the automotive supply chain, and increasing tariffs or even triggering a trade war could impact car production and drive up prices. After the U.S. stock market closed on Monday, Musk stated that he is operating his business with "great difficulty."

2. Core focus on earnings report interpretation and conference call

Leapmotor: “Leapmotor: Dark Horse Counterattack, Is 'Little Ideal' Going Crazy?”, “Leapmotor (Minutes): 2025 Sales Target of 500,000 to 600,000 Units”.

Boss Zhipin will release its earnings report tonight, and Dolphin Research will track and provide interpretative analysis.

🐬 Leading Sectors

Shanghai and Shenzhen: Consumer retail, food distribution, clothing retail;

Hong Kong Stocks: Managed healthcare, sports equipment and other leisure products, personal care products;

U.S. Stocks: Motorcycle manufacturers, medical product distributors, water utilities.

🐬 Attention for Tomorrow

1. U.S. seasonally adjusted CPI month-on-month, U.S. seasonally adjusted core CPI month-on-month, U.S. unadjusted CPI year-on-year, U.S. unadjusted core CPI year-on-yearRisk Disclosure and Disclaimer for this Article: Dolphin Research Disclaimer and General Disclosure