New game on Bilibili 'Three Kingdoms: Hundred Generals' scheduled for testing; 'Ning Wang' surges wildly｜Today's important news recap

0915 Dolphin Research Key Focus:

🐬 Macro/Industry

1. The National Bureau of Statistics released the macro data package for August. In August, the total retail sales of consumer goods reached 3,966.8 billion yuan, a year-on-year increase of 3.4%. Dolphin Research has published a detailed commentary "Why is the growth rate of retail sales hitting new lows continuously?". Overall, the growth rate of retail sales in July and August continued to slow down, hitting new lows. On one hand, the decline in state subsidies and poor automobile sales led to weaker goods sales. On the other hand, the food delivery wars have had a crowding-out effect on offline dining consumption and have also led to a decrease in the actual price paid by consumers, making the growth of dining income more sluggish.

2. On the 15th, the China Association of Automobile Manufacturers released the "Code of Conduct for Payment to Suppliers by Automobile Manufacturers", requiring vehicle manufacturers to complete acceptance within ≤3 working days, payment terms ≤60 days, and prioritize cash/bank acceptance for small and medium-sized enterprises, while advocating for a contract validity period of ≥1 year. The Ministry of Industry and Information Technology simultaneously expressed support. Addressing the industry's common pain points of "long payment terms + bill occupation", this initiative refines the previous "60-day payment" commitment of 17 leading companies into executable terms, which is expected to alleviate cash flow pressure on parts companies and reduce supply chain financing costs.

🐬 Individual Stocks

1.$CATL(03750.HK)

Contemporary Amperex Technology Co., Limited (CATL) performed strongly today, with Hong Kong stocks rising over 8% intraday and A-shares up 9%, driven by multiple catalysts. On the policy front, this morning, the China Association of Automobile Manufacturers released the "Code of Conduct for Payment to Suppliers by Automobile Manufacturers", coupled with multiple favorable policies such as the "Special Action Plan for the Large-scale Construction of New Energy Storage (2025-2027)" and the "Work Plan for Stable Growth of the Automobile Industry (2025-2026)" (hereinafter referred to as the "Plan"), CATL, as a leader, will benefit. On the institutional side, several institutions such as Morgan Stanley and JP Morgan have raised ratings and earnings expectations, boosting market confidence. For the company itself, the steady growth in performance in the first half of the year, along with multiple favorable factors, has driven the stock price upward.

2.$BILIBILI-W(09626.HK)

Bilibili rose over 5% today. On the news front, on September 10th, Bilibili's new strategy card game "Three Kingdoms: Hundred Generals" was first revealed. At the same time, the official announcement stated that the game has opened for reservations and will start the first round of "Play a Hand" public testing in October. This game is Bilibili's second Three Kingdoms-themed game after "Three Kingdoms: Strategy Under Heaven" and is an important attempt to promote the youth-oriented strategy of its game categories, attracting a large number of players from "Three Kingdoms: Strategy Under Heaven".

3.$NIO-SW(09866.HK)

On September 20th, Nio will host NIO Day 2025, during which the new ES8 will be officially launched. As a flagship model of the Nio brand, the new ES8 is built on the NT3.0 platform, achieving a comprehensive upgrade. The launch of the new ES8 is highly anticipated and is expected to boost Nio's sales, consolidate its position in the high-end new energy vehicle market, and inject new momentum into the brand's development.

🐬 Leading Sectors

Shanghai and Shenzhen: Video games and multimedia, film and entertainment, diversified support services;

Hong Kong stocks: Medical institutions, medical information services, electrical components and equipment;

U.S. stocks: Automobile manufacturers, marine ports-operators, aluminum.

🐬 Focus for Tomorrow

1. U.S. retail sales monthly rate, U.S. import price index monthly rate, U.S. industrial production monthly rate, U.S. business inventory monthly rate.

Risk Disclosure and Statement of this Article: Dolphin Research Disclaimer and General Disclosure