Gold soars; Google showcases new AR glasses｜Today's important news recap

0521 | Dolphin Research Key Focus:

🐬 Macro/Industry

1、Last Friday, Moody's downgraded the U.S. credit rating from Aaa to Aa1, triggering a sell-off of the U.S. dollar, with the dollar index falling below the 100 mark. Moody's downgrade exposed the structural risks of the U.S. fiscal deficit, highlighting gold's value as the "ultimate currency." Coupled with reports of Israel planning to attack Iran's nuclear facilities and escalating tensions in the Middle East, geopolitical risks surged, reigniting interest in gold as a traditional safe-haven asset and driving a sharp rise in gold prices recently.

🐬 Stocks

1、$Alphabet(GOOGL.US)

On Tuesday, May 20, Eastern Time, Google's 2025 I/O Developer Conference keynote showcased the latest achievements in AI, multimodal models, cross-device integration, and developer tools. Notably, Google launched the Android XR open platform for headsets and glasses, collaborating with core partners like XREAL and Samsung to build an open and diverse AR/XR ecosystem. At the conference, Google also announced a partnership with Chinese AR glasses company XREAL to release the next-generation AR glasses—Project Aura, the world's first AR glasses powered by the Android XR platform.

2、$Wolfspeed(WOLF.US)

Former silicon carbide giant Wolfspeed is preparing to file for bankruptcy protection. Earlier this month, Wolfspeed expressed concerns about its ability to continue operations and forecasted annual revenue below expectations. At the end of March, Wolfspeed's stock plunged 50% due to unresolved CHIPS Act funding and difficulties in convertible bond refinancing. Following Tuesday's bankruptcy restructuring news, Wolfspeed dropped another 60%.

3、$XPENG-W(09868.HK)

XPeng announced that it will hold a launch event for the new XPeng MONA M03 Max on May 28, with deliveries starting this month. The MONA M03 Max is expected to offer two variants with ranges of 600km and 502km, bringing AI-assisted driving features typically found in vehicles priced above 200,000 RMB to the 150,000 RMB segment.

4、Key Earnings Reports and Conference Call Summaries

Bilibili:《Bilibili: Games Lead the Way as Users Return—Is the Little Station Recovering?》、《Bilibili (Minutes): Four to Five Games Awaiting Approval》

Vipshop:《Vipshop: Falling Back to the Bottom—Will Buybacks Save It This Time?》、《Vipshop (Minutes): Hoping for a Return to Growth in H2, Returning 75% of Profits to Shareholders》

XPeng and Baidu will report earnings tonight, and Dolphin Research will provide analysis.

🐬 Top Gainers

Shanghai/Shenzhen: Gold, Coal and Consumable Fuels, Apparel Retailers;

Hong Kong: Silver, Electrical Components and Equipment, Gold;

U.S.: Precious Metals and Minerals, Silver, Apparel Accessories and Luxury Goods.

🐬 Tomorrow's Focus

1、Xiaomi will hold a strategic new product launch event at 7 PM on May 22.

2、Boss Zhipin will report earnings.

Risk Disclosure and Disclaimer: Dolphin Research Disclaimer and General Disclosure