Ant Group Accelerates Stablecoin License Expansion; Tencent Prepares for Mega Game Acquisition | Today's Important News Recap

0612 ｜Dolphin Research Focus:

🐬 Macro/Industry

1. The U.S. Consumer Price Index (CPI) for May rose by 2.4% year-on-year, with the month-on-month data increasing for the second consecutive month by 0.1%. The May CPI data was below expectations, indicating some relief in inflationary pressures, but uncertainties remain for the future. In the short term, the weak inflation data provides room for the Federal Reserve to cut interest rates, which would be beneficial for the stock and bond markets. However, in the long term, the potential impact of tariff policies still needs attention, and future inflation may face upward risks.

🐬 Individual Stocks

1.$Alibaba(BABA.US)

Ant Group plans to apply for stablecoin licenses in Singapore and Hong Kong, while also seeking related permits in Luxembourg. This move is part of Ant Group's global expansion strategy, aiming to further expand its international business footprint. Following the news, some Ant Financial concept stocks surged significantly. If Ant International successfully issues compliant stablecoins, it will open new revenue streams (such as fees and reserve interest) and strengthen its moat in the cross-border payment field. Additionally, the combination of stablecoins with Real World Asset (RWA) tokenization is expected to become a core engine for Ant Group's future growth.

2.$TENCENT(00700.HK)

Rumors suggest that Tencent is in contact with the founder's family to evaluate and discuss the acquisition of Nexon. The specific acquisition details and whether the acquisition will be finalized are yet to be determined. Nexon's current market value is $15 billion, with the founder Kim Jung-ju's family holding approximately 44% of the listed company through NXC and its affiliates (Kim's wife and daughter hold about 68% of NXC shares). Previously, Tencent participated in the bidding for Nexon in 2019 but did not reach an investment due to pricing issues.
Nexon is a benchmark enterprise in the Korean gaming industry, with IPs like "Dungeon & Fighter" (DNF) and "MapleStory" having significant audience and market value in the Chinese market. Tencent has been the agent for DNF's PC game since 2008 and will further obtain the "super-localization development rights" for DNF's mobile game in 2025. If a controlling acquisition is achieved (i.e., fully acquiring NXC's shares), it may change the current high royalty issue for IP authorization (Tencent needs to pay Nexon about 30% of DNF's national server revenue) and gain more global distribution rights for Nexon's IPs, strengthening control over core assets.

3.$Microsoft(MSFT.US)

Microsoft is developing a customized AI assistant, Copilot, for the U.S. Department of Defense. This tool is expected to be launched as early as the summer of 2025, aiming to meet the high security and compliance requirements of the Department of Defense. As one of the world's largest employers, with over 2 million military personnel and nearly 770,000 civilian employees, the Department of Defense has a huge demand for productivity tools. If Microsoft successfully deploys this tool, it will gain over a million new users, bringing considerable commercial benefits.

4.$Meta Platforms(META.US)

Meta has launched a world model called V-JEPA 2, a 1.2 billion parameter model primarily trained through video to support understanding, prediction, and planning in robotic systems. Trained on large-scale video data, this model can help robots and AI agents better understand and predict events in the physical world. Key technological highlights include building a "world model" without labeled data to understand object motion laws; real-time control of robots to complete complex tasks (such as cooking and navigation) by observing videos, without retraining for specific tasks.

🐬 Leading Sectors

Shanghai and Shenzhen: Diversified Financial Services, Consumer Goods Retailers, Gold;

Hong Kong Stocks: Medical Supplies, Biotechnology, Pharmaceuticals;

U.S. Stocks: Marine Ports & Services, Heavy Electrical Equipment, Coal & Consumable Fuels.

🐬 Focus for Tomorrow

1. Initial value of the U.S. one-year inflation rate expectation.

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