Negotiation Path Visible! Iran Proposes "Three-Stage Solution"; DeepSeek Cuts Input Cache Prices, Goldman Sachs Expects Further Strengthening of Cost Competitiveness; ZTE's Q1 Net Profit Down 46% YoY, Montage Technology and Cambridge Technology to Release Results Today
谈判路径可见！伊朗提出 “三阶段解决方案”；DeepSeek 输入缓存降价，高盛预计成本竞争力将进一步强化；中兴通讯 Q1 净利润同比降 46%，澜起科技、剑桥科技今日将放榜
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Iran has proposed a three-stage negotiation solution
伊朗提出一项分三阶段解决的谈判方案
Sources close to Iran said that Iran has conveyed a three-stage negotiation plan to the United States through intermediaries. The first stage of the negotiations focuses on a complete end to the war and obtaining guarantees against renewed attacks on Iran and Lebanon. If an agreement is reached in the first stage, the parties will enter the second stage, which will be dedicated to studying how the Strait of Hormuz is managed. The third stage is related to nuclear issue discussions, but Iran will never participate in nuclear negotiations until the first two stages are agreed upon.
伊朗方面消息人士称，伊朗已通过中间人向美方传达了一个三阶段谈判方案。谈判第一阶段的重点是彻底结束战争，并获得防止对伊朗和黎巴嫩重新发动战争的保证。如果在第一阶段达成协议，各方将进入第二阶段，该阶段将专门研究霍尔木兹海峡如何管理的问题。第三阶段与核问题讨论有关，但在前两个阶段达成协议之前，伊朗绝不会参与核问题谈判。
On Saturday local time, Trump called off his envoy's trip to Pakistan for talks with Iran, saying "if you want to talk, just make a phone call" and claiming Iran has "no cards left to play". According to foreign media reports on the 26th, U.S. President Trump said in an interview with Fox News that he believes the Iran war will end soon and the United States will win. If Iran wants to negotiate, it can call the U.S. side, "hoping Iran will be smarter".
当地时间周六，特朗普叫停特使赴巴基斯坦与伊朗会谈，放话 “想谈，打个电话就行”，称伊朗 “一张牌都没有”。另据外媒 26 日报道，美国总统特朗普接受福克斯新闻采访时说，他认为伊朗战争很快就会结束，美国将取得胜利。如果伊朗想谈判，可以给美方打电话，“希望伊朗聪明一点”。
JPMorgan: Middle East situation unresolved but negotiation path visible, macro focus shifts from risk premium to residual "stagflation" risk
摩根大通：中东虽未解决但谈判路径可见，宏观焦点已从风险溢价转向残余 “滞胀” 风险
Rajiv Batra from JPMorgan's global market strategy team wrote in his latest report on Friday: "The situation in the Middle East remains unresolved (if it persists, it may bring non-linear risks to commodity supply), but the path to a negotiated settlement is clearer... The macro focus has shifted from risk premium to residual 'stagflation'." Under this framework, stock market divergence will become sharper: beyond commodity stocks, capital prefers structural tracks that are less sensitive to the economy but can deliver sustained growth, especially AI and "security/resilience" related investments; conversely, energy-sensitive and pure cyclical sectors will be underweighted. The strategic landing point is straightforward: overweight Asian tech chains and Taiwan, reduce exposure to India and others more constrained by "stagflation aftershocks".
摩根大通全球市场策略团队的 Rajiv Batra 在周五的最新报告中写道：“中东局势仍未解决（若持续可能对大宗商品供给带来非线性风险），但谈判式解决的路径更清晰…… 宏观焦点已从风险溢价转向残余的‘滞胀’。” 在这套框架下，股票市场的分化会更尖锐：商品股之外，资金更愿意待在对经济不那么敏感、但能持续兑现增长的结构性赛道，尤其是 AI 与 “安全 / 韧性” 相关投资；相对地，能源敏感、纯周期的板块会被降低权重。策略层面的落点很直接：加码亚洲科技链与台湾，降低印度等更受 “滞胀余波” 掣肘的敞口。
DeepSeek cuts input cache prices
DeepSeek 输入缓存降价
According to DeepSeek's official website, effective immediately, the price for input cache hits across all DeepSeek models has been reduced to 1/10 of the launch price, and the deepseek-v4-pro model is available at a limited-time 25% discount until 23:59 Beijing time on May 5, 2026. After this price cut combined with the limited-time offer, the input (cache hit) price for the DeepSeek-V4-Pro model drops to 0.025 yuan per million tokens.
据 DeepSeek 官网消息，即日起，DeepSeek 全系列模型，输入缓存命中的价格降至首发价格的 1/10，deepseek-v4-pro 模型限时 2.5 折，优惠期至北京时间 2026/05/05 23:59。此番减价叠加限时优惠后，DeepSeek-V4-Pro 模型输入（缓存命中）降低至 0.025 元 / 百万 Tokens。
Meanwhile, Goldman Sachs believes that DeepSeek V4 has significantly reduced long-context inference costs through architectural innovations such as hybrid attention, with the core significance of supporting the deployment of complex agent applications at lower costs. V4 has clearly bet on Huawei Ascend 950, and API pricing is expected to drop significantly after mass production in the second half of 2026. Competition among domestic AI models is intensifying, with programming capabilities and multimodality becoming key differentiators. Goldman Sachs maintains its top rating for cloud computing and data centers.
同时，高盛认为 DeepSeek V4 通过混合注意力等架构创新，大幅压缩长上下文推理成本，核心意义在于以更低成本支撑复杂智能体应用落地。V4 明确押注华为昇腾 950，预计 2026 年下半年量产后 API 定价将显著下降。国内 AI 模型竞争加剧，编程能力与多模态成差异化关键。高盛维持云计算与数据中心首选评级。
U.S. Department of Justice ends investigation into Federal Reserve, potentially paving way for Wash's Senate confirmation
美司法部停止调查美联储，或为沃什提名获参议院批准铺路
Jeanine Pirro, U.S. Attorney for the District of Columbia, said on the 24th that she has instructed the U.S. Attorney's Office for the District of Columbia to end its investigation into the Federal Reserve's office building renovation project, given that the Federal Reserve is expected to conduct an internal investigation into the cost overruns. According to U.S. media analysis, the end of the criminal investigation targeting Federal Reserve Chairman Powell by the U.S. Department of Justice will pave the way for Senate approval of Kevin Wash, President Trump's nominee for the next Federal Reserve Chairman. Pirro posted on social media that the Federal Reserve Inspector General has been asked to review the billions of dollars in construction cost overruns borne by taxpayers. She believes the findings will help "solve the problem" and also said she will not hesitate to reopen the criminal investigation if circumstances warrant.
美国哥伦比亚特区联邦检察官珍尼娜・皮罗 24 日表示，鉴于美国联邦储备委员会预计将就办公楼翻新项目超支问题进行内部调查，她已经指示哥伦比亚特区联邦检察官办公室结束对美联储办公楼翻新项目的调查。据美媒分析，美司法部结束针对美联储主席鲍威尔的相关刑事调查，将为总统特朗普提名的美联储下一任主席人选凯文・沃什获得参议院批准铺平道路。皮罗在社交媒体上发文说，美联储监察长被要求审查由纳税人承担数十亿美元的建筑成本超支问题。她相信调查结果将有助于 “解决问题”，同时也表示，如果情况需要，她会毫不犹豫重新启动刑事调查。
U.S. Space Force discloses details of "Golden Dome" contracts: 12 companies including SpaceX and Anduril awarded $3.2 billion orders
美国太空军披露 “金穹” 合同细节：SpaceX、安杜里尔等 12 家公司获 32 亿美元订单
The U.S. Space Force announced that it has awarded contracts worth up to 
3.2 billion. The project aims to develop a space-based missile defense interceptor system by 2028 and demonstrate its integrated combat capability within the overall "Golden Dome" architecture.
美国太空军宣布已向 12 家公司授出总价值最高达 32 亿美元的合同，用于开发天基导弹防御拦截系统，从而推进美国总统特朗普提出的 “金穹” 计划。在 2025 年底至 2026 年初期间，太空军下属的太空系统司令部已向包括 SpaceX、诺斯罗普格鲁曼 ([NOC.US](NOC.US))、洛克希德马丁 ([LMT.US](LMT.US)) 以及安杜里尔工业公司在内的 12 家公司授出 20 项合同，总价值最高达 32 亿美元。该项目目标是在 2028 年前开发出一套天基导弹防御拦截系统，并在 “金穹” 整体架构中展示其综合作战能力。
This Thursday! Four tech giants report earnings on the same day, surging AI faces "moment of truth"
本周四！科技四巨头同日财报，暴涨的 AI 面临 “验证时刻”
The four major tech giants will release their results in the early morning of April 30 Beijing time—Google, Microsoft, Meta and Amazon have combined capital expenditures approaching $600 billion, and money is still pouring into AI infrastructure. But market patience is narrowing: for this earnings season, investors no longer want promises of "we're still willing to spend", but real answers of accelerating cloud revenue, order fulfillment and controlled profit margins. Whoever can answer all these well will have a more stable position.
四大科技巨头将于北京时间 4 月 30 日凌晨集中交卷 —— 谷歌、微软、Meta、亚马逊合计资本开支规模直逼 6000 亿美元，钱还在往 AI 基础设施里涌。但市场的耐心正在收窄：这次财报，投资者要的不再是 "还敢花钱" 的承诺，而是云收入提速、订单落地、利润率不失控的真实答案。谁能同时答好，谁的位置就更稳。
U.S. Stock Market Recap
美股复盘
S&P 500 and Nasdaq hit new highs, Nvidia's market cap breaks $5 trillion
标普、纳指再创新高，英伟达市值突破 5 万亿美元
Last Friday U.S. Eastern time, the S&P 500 Index and the Nasdaq Index closed at record highs. As of the close, the Dow Jones Industrial Average fell 0.16%, the Nasdaq rose 1.63%, and the S&P 500 rose 0.80%.
美东时间上周五，标普 500 指数与纳斯达克指数收于纪录高位。截至收盘，道指跌 0.16%，纳指涨 1.63%，标普 500 指数涨 0.80%。
Most star tech stocks rose. Nvidia rose 4.32%, pushing its market cap back above $5 trillion. Amazon rose 3.49%, Microsoft rose 2.13%, Meta rose 2.41%, Google rose 1.63%, and Apple fell 0.87%.
明星科技股多数上涨，英伟达涨 4.32%，市值再上 5 万亿美元，亚马逊涨 3.49%，微软涨 2.13%，Meta 涨 2.41%，谷歌涨 1.63%，苹果跌 0.87%。
In terms of individual stock performance, Nvidia closed at 
44.398 billion and a market cap of 
347.810, up 13.91%, with a turnover of 
567.073 billion. Tesla closed at 
23.652 billion and a market cap of 
82.540, up 23.60%, with a turnover of 
414.598 billion. Micron Technology closed at 
17.615 billion and a market cap of 
263.990, up 3.49%, with a turnover of 
2.84 trillion. Microsoft closed at 
11.572 billion and a market cap of 
271.060, down 0.87%, with a turnover of 
3.98 trillion. Broadcom closed at 
9.434 billion and a market cap of 
344.400, up 1.63%, with a turnover of 
4.17 trillion.
个股方面，英伟达收盘价 208.270 美元，涨幅 4.32%，成交额 443.98 亿美元，市值 5.06 万亿美元；美国超微公司收盘价 347.810 美元，涨幅 13.91%，成交额 282.05 亿美元，市值 5670.73 亿美元；特斯拉收盘价 376.300 美元，涨幅 0.69%，成交额 236.52 亿美元，市值 1.41 万亿美元；英特尔收盘价 82.540 美元，涨幅 23.60%，成交额 231.58 亿美元，市值 4145.98 亿美元；美光科技收盘价 496.720 美元，涨幅 3.11%，成交额 176.15 亿美元，市值 5601.68 亿美元；亚马逊收盘价 263.990 美元，涨幅 3.49%，成交额 140.86 亿美元，市值 2.84 万亿美元；微软收盘价 424.620 美元，涨幅 2.13%，成交额 115.72 亿美元，市值 3.15 万亿美元；苹果收盘价 271.060 美元，跌幅 0.87%，成交额 103.36 亿美元，市值 3.98 万亿美元；博通收盘价 422.760 美元，涨幅 0.67%，成交额 94.34 亿美元，市值 2 万亿美元；谷歌 - A 收盘价 344.400 美元，涨幅 1.63%，成交额 90.37 亿美元，市值 4.17 万亿美元。
The Livermore China Concept Stock Leading Index closed up 2.62%, with popular Chinese concept stocks generally rising. Baidu rose more than 5%, XPeng and GDS Holdings rose more than 4%, and Miniso and Alibaba rose more than 3%.
利弗莫尔中概股龙头指数收涨 2.62%，热门中概股普涨，百度涨超 5%，小鹏集团、万国数据涨超 4%，名创优品、阿里巴巴涨超 3%。
Among Chinese concept stocks, TSMC closed at 
8.681 billion and a market cap of 
135.820, up 3.13%, with a turnover of 
324.848 billion. Pinduoduo closed at 
475 million and a market cap of 
128.710, up 5.91%, with a turnover of 
43.794 billion. ASE closed at 
345 million and a market cap of 
159.890, up 3.70%, with a turnover of 
22.416 billion. UMC closed at 
134 million and a market cap of 
16.660, up 4.78%, with a turnover of 
15.929 billion. NIO closed at 
117 million and a market cap of 
30.270, up 0.97%, with a turnover of 
41.343 billion.
中概股方面，台积电收盘价 402.460 美元，涨幅 5.17%，成交额 86.81 亿美元，市值 2.09 万亿美元；阿里巴巴收盘价 135.820 美元，涨幅 3.13%，成交额 12.2 亿美元，市值 3248.48 亿美元；拼多多收盘价 98.030 美元，涨幅 0.27%，成交额 4.75 亿美元，市值 1391.68 亿美元；百度收盘价 128.710 美元，涨幅 5.91%，成交额 4.46 亿美元，市值 437.94 亿美元；日月光半导体收盘价 32.000 美元，涨幅 7.35%，成交额 3.45 亿美元，市值 712.61 亿美元；富途控股收盘价 159.890 美元，涨幅 3.70%，成交额 1.77 亿美元，市值 224.16 亿美元；联电收盘价 12.280 美元，涨幅 2.33%，成交额 1.34 亿美元，市值 308.49 亿美元；小鹏集团收盘价 16.660 美元，涨幅 4.78%，成交额 1.25 亿美元，市值 159.29 亿美元；蔚来收盘价 6.210 美元，跌幅 1.11%，成交额 1.17 亿美元，市值 155.6 亿美元；京东收盘价 30.270 美元，涨幅 0.97%，成交额 1.16 亿美元，市值 413.43 亿美元。
Individual Stock News
个股资讯
First time since last October, Nvidia surges to new high
去年 10 月以来第一次，英伟达大涨创新高
Nvidia ([NVDA.US](NVDA.US)) rose more than 4% on Friday, hitting a new all-time closing high and pushing its market cap firmly above the $5 trillion threshold, with a cumulative gain of 12% this year. Analysts believe that next week's earnings reports from Microsoft, Amazon, Alphabet and Meta will be key variables, as their AI capital expenditure trends will directly affect the medium-term trajectory of Nvidia and the chip sector.
英伟达 ([NVDA.US](NVDA.US)) 周五大涨超 4%，刷新历史收盘纪录，市值站稳 5 万亿美元关口，今年累计涨幅达 12%。分析认为本周微软、亚马逊、Alphabet、Meta 财报将成关键变量，其 AI 资本支出走向将直接影响英伟达及芯片板块中期走势。
Google reportedly plans to invest up to $40 billion to deepen partnership with Anthropic
谷歌据称拟最高投资 400 亿美元，加深与 Anthropic 的合作关系
Latest news shows that Google-A ([GOOGL.US](GOOGL.US)) will invest 
30 billion later, strengthening the relationship between the two companies. Reports said Anthropic stated that Google will currently invest 
350 billion, the same valuation as during its financing in February this year. Anthropic also said that if future performance targets are met, Google will invest an additional $30 billion and support Anthropic in significantly expanding its computing capacity. With the breakthrough success of AI programming agent Claude Code, which can significantly improve software development efficiency, Anthropic is accelerating its financing.
最新消息显示，谷歌 - A ([GOOGL.US](GOOGL.US)) 将向 Anthropic 投资 100 亿美元，并可能在后续追加 300 亿美元，从而强化两家公司之间的关系。报道称，Anthropic 表示谷歌目前将以 3500 亿美元估值投入 100 亿美元现金，这一估值与其今年 2 月融资时的估值相同。Anthropic 还称，如果未来达到业绩目标，谷歌还将追加投资 300 亿美元，并支持 Anthropic 大幅扩展其计算能力。随着 AI 编程代理 Claude Code 获得突破性成功，该工具可显著提升软件开发效率，Anthropic 正加速融资。
Semiconductor sector most overbought in history, "Big Short" Burry warns: Technical factors only, time to sell
半导体超买程度史上最高，“大空头” Burry 警告：技术性因素所致，该跑了
"Big Short" Michael Burry has announced a short position on the semiconductor sector, bluntly stating that the current rally lacks fundamental support. Last Friday, Burry wrote in his Substack that if he held long positions in semiconductor stocks, he would choose to sell now. He also noted that the continued rise in the Philadelphia Semiconductor Index is "more due to technical factors" rather than sustainable fundamental logic. Burry's statement came as the Philadelphia Semiconductor Index rose for the 18th consecutive trading day, setting a record for the longest winning streak in history. From a technical perspective, the semiconductor index is also the most overbought it has ever been.
"大空头"Michael Burry 宣布做空半导体板块，并直言当前涨势缺乏基本面支撑。上周五，Burry 在其 Substack 发文称：如果他持有半导体股多头头寸，现在会选择卖出。他同时指出，费城半导体指数的持续上涨 "更多是技术性因素所致"，而非可持续的基本面逻辑驱动。周五 Burry 的表态恰逢费城半导体指数连涨 18 个交易日，创历史最长连涨纪录。技术角度来看，半导体指数超买程度也创有史以来最高。
Gurman: Apple's new CEO Ternus to take office on September 1, foldable iPhone to be his debut
古尔曼：苹果新帅特努斯 9 月 1 日上任，折叠屏 iPhone 成首秀
Tech journalist Mark Gurman wrote in his latest article that Apple ([AAPL.US](AAPL.US))'s incoming CEO John Ternus will officially take office on September 1 and will subsequently release the first foldable iPhone. This arrangement is designed to establish Ternus as the face of the product line. The device focuses on durability and micro-crease technology and is expected to be priced above $2,000. In addition to the phone, Cook has left about 10 new product development pipelines including AI smart homes, AR glasses and touchscreen Macs, helping him drive Apple into an unprecedented product expansion cycle in his new term.
科技记者马克・古尔曼最新撰文称，苹果 ([AAPL.US](AAPL.US)) 继任 CEO 约翰・特努斯将于 9 月 1 日正式上任，并在随后发布首款折叠屏 iPhone。这一安排旨在确立特努斯作为该产品线的代言人地位。这款设备聚焦耐用性与微折痕技术，预计售价超 2000 美元。除手机外，库克还留下了包括 AI 智能家居、AR 眼镜及触屏 Mac 在内的约 10 条新产品研发管线，助其在新任期推动苹果进入前所未有的产品扩张周期。
Eli Lilly's oral weight loss drug gets off to a slower-than-expected start, temporarily trailing Novo Nordisk
礼来口服减肥药开局不及预期，暂落后诺和诺德
Eli Lilly ([LLY.US](LLY.US))'s new weight loss pill Foundayo has gotten off to a slower-than-expected start. Latest prescription data shows the product has had a slow launch, highlighting the challenges it faces in catching up with competitor Novo Nordisk. According to IQVIA data cited by RBC Capital Markets analyst Trung Huynh, Foundayo received 3,707 prescriptions in its second week on the market. In comparison, Novo Nordisk ([NVO.US](NVO.US))'s oral version of Wegovy received 18,410 prescriptions in its second week on the market. Earlier this month, Eli Lilly's once-daily pill was approved in the United States through an accelerated approval pathway designed to speed up the launch of potential drugs. This approval has also increased pressure on Novo Nordisk, which sees its competing weight loss pill launched in January this year as a key pillar of business recovery.
礼来 ([LLY.US](LLY.US)) 的新型减重药片 Foundayo 开局表现不及预期。最新处方数据显示，这款产品起步较为缓慢，凸显其在追赶竞争对手诺和诺德过程中面临的挑战。根据 RBC 资本市场分析师 Trung Huynh 引用的 IQVIA 数据，Foundayo 上市第二周共获得 3,707 张处方。相比之下，诺和诺德 ([NVO.US](NVO.US)) 口服版 Wegovy 在上市第二周的处方量达到 18,410 张。本月早些时候，礼来这款每日一次服用的药片在美国通过一项旨在加速潜力药物上市的审批通道获批。这一批准也加大了对诺和诺德的压力 —— 后者将其今年 1 月推出的竞争性减肥药片视作业务复苏的重要支柱。
Nuclear power stocks continue to surge, Amazon-backed X-Energy jumps 27% on IPO debut
核电股继续火爆，亚马逊持股的 X-Energy IPO 首日大涨 27%
Nuclear power service provider X-Energy ([XE.US](XE.US)) jumped 27% on its first day of trading on the Nasdaq on Friday, closing at 
11.5 billion. Benefiting from the explosion in AI power demand, its IPO pricing exceeded expectations, raising more than $1 billion. Amazon, as a major shareholder and customer, has committed to 5 gigawatts of orders. Despite losses in 2025 and commercialization still years away, early investors such as Ken Griffin and Ares have already seen several times their paper profits.
核电服务商 X-Energy ([XE.US](XE.US)) 周五纳斯达克上市首日大涨 27%，收报 29.20 美元，市值达 115 亿美元。受益于 AI 电力需求爆发，其 IPO 定价超预期，募资逾 10 亿美元。亚马逊作为大股东与客户已承诺 5 吉瓦订单。尽管 2025 年亏损且商业化尚需数年，但 Ken Griffin 及 Ares 等早期投资者已获数倍账面浮盈。
Top 20 by Turnover
成交额 TOP20
Nvidia led with a turnover of 
208.270 with a market cap of 
28.092 billion, up 13.91% at 
567.073 billion. Tesla was third with 
376.300 with a market cap of 
23.004 billion, up 23.60% at 
414.598 billion. Micron Technology was fifth with 
496.720 with a market cap of 
13.991 billion, up 3.49% at 
2.84 trillion. Microsoft was seventh with 
424.620 with a market cap of 
113.48 million, up 6.16% at 
146.11 billion. Apple was ninth with 
271.060 with a market cap of 
9.41 billion, up 0.67% at 
2 trillion. Google-A was eleventh with 
344.400 with a market cap of 
8.912 billion, up 2.41% at 
1.71 trillion. TSMC was thirteenth with 
402.460 with a market cap of 
6.197 billion, up 1.35% at 
4.14 trillion. Marvell Technology was fifteenth with 
164.310 with a market cap of 
5.725 billion, down 1.70% at 
498.361 billion. Palantir was seventeenth with 
143.090 with a market cap of 
4.694 billion, up 14.76% at 
249.368 billion. Qualcomm was nineteenth with 
148.850 with a market cap of 
4.123 billion, down 0.03% at 
308.81 billion.
英伟达以 442.64 亿美元成交额居首，收盘价 208.270 美元，涨幅 4.32%，市值 5.06 万亿美元；美国超微公司紧随其后，成交额 280.92 亿美元，收盘价 347.810 美元，涨幅 13.91%，市值 5670.73 亿美元；特斯拉排名第三，成交额 235.01 亿美元，收盘价 376.300 美元，涨幅 0.69%，市值 1.41 万亿美元；英特尔第四，成交额 230.04 亿美元，收盘价 82.540 美元，涨幅 23.60%，市值 4145.98 亿美元；美光科技第五，成交额 175.44 亿美元，收盘价 496.720 美元，涨幅 3.11%，市值 5601.68 亿美元；亚马逊第六，成交额 139.91 亿美元，收盘价 263.990 美元，涨幅 3.49%，市值 2.84 万亿美元；微软第七，成交额 115.16 亿美元，收盘价 424.620 美元，涨幅 2.13%，市值 3.15 万亿美元；闪迪第八，成交额 1.1348 亿美元，收盘价 989.900 美元，涨幅 6.16%，市值 1461.1 亿美元；苹果第九，成交额 103.05 亿美元，收盘价 271.060 美元，跌幅 0.87%，市值 3.98 万亿美元；博通第十，成交额 94.1 亿美元，收盘价 422.760 美元，涨幅 0.67%，市值 2 万亿美元；谷歌 - A 第十一，成交额 90.16 亿美元，收盘价 344.400 美元，涨幅 1.63%，市值 4.17 万亿美元；Meta Platforms 第十二，成交额 89.12 亿美元，收盘价 675.030 美元，涨幅 2.41%，市值 1.71 万亿美元；台积电第十三，成交额 86.61 亿美元，收盘价 402.460 美元，涨幅 5.17%，市值 2.09 万亿美元；谷歌 - C 第十四，成交额 61.97 亿美元，收盘价 342.320 美元，涨幅 1.35%，市值 4.14 万亿美元；迈威尔科技第十五，成交额 61.31 亿美元，收盘价 164.310 美元，跌幅 0.76%，市值 1436.56 亿美元；甲骨文第十六，成交额 57.25 亿美元，收盘价 173.280 美元，跌幅 1.70%，市值 4983.61 亿美元；Palantir 第十七，成交额 54.47 亿美元，收盘价 143.090 美元，涨幅 1.07%，市值 3422.25 亿美元；Arm Holdings 第十八，成交额 46.94 亿美元，收盘价 234.810 美元，涨幅 14.76%，市值 2493.68 亿美元；高通第十九，成交额 43.39 亿美元，收盘价 148.850 美元，涨幅 11.12%，市值 1588.23 亿美元；GE Vernova 第二十，成交额 41.23 亿美元，收盘价 114.919 美元，跌幅 0.03%，市值 3088.1 亿美元。
Hong Kong Market Outlook
港市前瞻
Southbound funds add nearly HK
700 million, net sell Tracker Fund over HK$1.4 billion
北水加仓港股近 35 亿港元，净买入中国海洋石油超 7 亿港元，净卖出盈富基金超 14 亿港元
On April 24 (Friday), southbound funds had a net buy of HK$3.46 billion in Hong Kong stocks today.
4 月 24 日（周五），南下资金今日净买入港股 34.6 亿港元。
CNOOC (00883.HK), China Mobile (00941.HK) and Yangtze Optical Fibre and Cable (06869.HK) received net buys of HK
546 million and HK
1.432 billion, HK
471 million respectively.
中国海洋石油 (00883.HK)、中国移动 (00941.HK)、长飞光纤光缆 (06869.HK) 分别获净买入 7.12 亿港元、5.46 亿港元、2.63 亿港元；盈富基金 (02800.HK)、吉利汽车 (00175.HK)、中芯国际 (00981.HK) 分别遭净卖出 14.32 亿港元、8.56 亿港元、4.71 亿港元。
In terms of Shanghai-Hong Kong Stock Connect top active stocks, SMIC had a turnover of HK
1.521 billion and a price increase of 10.01%. Hua Hong Semiconductor had a turnover of HK
1.368 billion and a price increase of 15.18%. Alibaba-W had a turnover of HK
126 million and a price increase of 1.07%. Tencent Holdings had a turnover of HK
39.93 million and a price decrease of 0.36%. CNOOC had a turnover of HK
851 million and a price increase of 0.87%. Yangtze Optical Fibre and Cable had a turnover of HK
298 million and a price decrease of 5.41%. Goxu Technology had a turnover of HK
25.39 million and a price increase of 33.79%. Shandong Molong had a turnover of HK
36.28 million and a price unchanged. Tracker Fund had a turnover of HK
893 million and a price increase of 0.23%. China Mobile had a turnover of HK
546 million and a price decrease of 0.12%.
沪市港股通十大成交活跃股中，中芯国际成交额 54.31 亿港元，资金净流出 15.21 亿港元，涨幅 10.01%；华虹半导体成交额 27.36 亿港元，资金净流入 13.68 亿港元，涨幅 15.18%；阿里巴巴 - W 成交额 30.36 亿港元，资金净流入 1.26 亿港元，涨幅 1.07%；腾讯控股成交额 26.3 亿港元，资金净流入 3993 万港元，跌幅 0.36%；中国海洋石油成交额 20.35 亿港元，资金净流入 8.51 亿港元，涨幅 0.87%；长飞光纤光缆成交额 16.8 亿港元，资金净流入 2.98 亿港元，跌幅 5.41%；果下科技成交额 16.41 亿港元，资金净流出 2539 万港元，涨幅 33.79%；山东墨龙成交额 14.76 亿港元，资金净流入 3628 万港元，涨幅 0.0%；盈富基金成交额 14.23 亿港元，资金净流出 8.93 亿港元，涨幅 0.23%；中国移动成交额 11.26 亿港元，资金净流入 5.46 亿港元，跌幅 0.12%。
In terms of Shenzhen-Hong Kong Stock Connect top active stocks, SMIC had a turnover of HK
1.05 billion and a price increase of 10.01%. Hua Hong Semiconductor had a turnover of HK
265 million and a price increase of 15.18%. Tencent Holdings had a turnover of HK
173 million and a price decrease of 0.36%. Alibaba-W had a turnover of HK
301 million and a price increase of 1.07%. Yangtze Optical Fibre and Cable had a turnover of HK
35.29 million and a price decrease of 5.41%. Geely Automobile had a turnover of HK
856 million and a price decrease of 2.7%. Akeso had a turnover of HK
44.92 million and a price increase of 0.92%. CNOOC had a turnover of HK
139 million and a price increase of 0.87%. Tracker Fund had a turnover of HK
539 million and a price increase of 0.23%. Jingtai Technology had a turnover of HK
44.74 million and a price decrease of 7.45%.
深市港股通十大成交活跃股中，中芯国际成交额 37.74 亿港元，资金净流入 10.5 亿港元，涨幅 10.01%；华虹半导体成交额 24.31 亿港元，资金净流入 2.65 亿港元，涨幅 15.18%；腾讯控股成交额 19.49 亿港元，资金净流出 1.73 亿港元，跌幅 0.36%；阿里巴巴 - W 成交额 17.71 亿港元，资金净流出 3.01 亿港元，涨幅 1.07%；长飞光纤光缆成交额 15.82 亿港元，资金净流出 3529 万港元，跌幅 5.41%；吉利汽车成交额 11.1 亿港元，资金净流出 8.56 亿港元，跌幅 2.7%；康方生物成交额 7.11 亿港元，资金净流出 4492 万港元，涨幅 0.92%；中国海洋石油成交额 6.5 亿港元，资金净流出 1.39 亿港元，涨幅 0.87%；盈富基金成交额 5.41 亿港元，资金净流出 5.39 亿港元，涨幅 0.23%；晶泰控股成交额 5.17 亿港元，资金净流出 4474 万港元，跌幅 7.45%。
Currency unit: Hong Kong dollars
Data source: Futu Niuniu
货币单位：港元
数据来源：富途牛牛
Goldwind Science & Technology: Q1 net profit up 60% YoY, increased sales of wind turbines and components
金风科技：一季度净利润同比增长 60%，风机及零部件销售规模增加
Goldwind Science & Technology (02208.HK) announced that it achieved operating income of 15.485 billion yuan in the first quarter of 2026, a year-on-year increase of 63.48%; net profit attributable to shareholders of the listed company was 907 million yuan, a year-on-year increase of 59.65%. The performance change was mainly due to the increase in sales scale of the company's wind turbines and components in the current period, the increase in gross profit, investment income and the increase in fair value change losses.
金风科技 (02208.HK) 公告称，2026 年第一季度实现营业收入 154.85 亿元，同比增长 63.48%；归属于上市公司股东的净利润为 9.07 亿元，同比增长 59.65%。业绩变动主要系本期本公司风机及零部件销售规模增加，毛利额、投资收益增加及公允价值变动损失增加等所致。
ZTE Corporation: Q1 net profit down 46.58% YoY
中兴通讯：一季度净利润同比下降 46.58%
ZTE Corporation (00763.HK) announced that it achieved operating income of 34.988 billion yuan in the first quarter of 2026, a year-on-year increase of 6.13%; net profit attributable to shareholders of the listed company was 1.31 billion yuan, a year-on-year decrease of 46.58%. The performance change was mainly due to exchange losses from exchange rate fluctuations in the current period compared with gains in the same period last year, a decrease in net interest income, a decrease in other income related to daily operating activities, losses from fair value revaluation of derivative contracts at the end of the period compared with gains in the same period last year, as well as an increase in provision for impairment of accounts receivable and provision for inventory write-downs in the current period.
中兴通讯 (00763.HK) 公告称，2026 年第一季度实现营业收入 349.88 亿元，同比增长 6.13%；归属于上市公司股东的净利润为 13.10 亿元，同比下降 46.58%。业绩变动主要系本期汇率波动产生汇兑损失而上年同期为收益及净利息收入减少，本期与日常经营活动相关的其他收益下降，本期衍生品合约期末进行公允价值重估产生损失而上年同期为收益，以及本期应收账款减值计提增加和存货跌价准备计提增加所致。
Chifeng Gold: Q1 net profit up 104% YoY, significant increase in gold prices
赤峰黄金：第一季度净利润同比增长 104%，黄金价格同比较大幅度上涨
Chifeng Gold (06693.HK) announced that it achieved operating income of 3.554 billion yuan in the first quarter of 2026, a year-on-year increase of 47.65%; net profit attributable to shareholders of the listed company was 988 million yuan, a year-on-year increase of 104.43%. The performance change was mainly due to the company's continuous optimization of production organization and operation management, and fully benefiting from the significant year-on-year increase in gold prices.
赤峰黄金 (06693.HK) 公告称，2026 年第一季度实现营业收入 35.54 亿元，同比增长 47.65%；归属于上市公司股东的净利润为 9.88 亿元，同比增长 104.43%。业绩变动主要系公司持续优化生产组织与运营管理，并充分受益于黄金价格同比较大幅度上涨。
Today's Focus
今日关注
Keywords: WuXi AppTec, Domino's Pizza earnings, Photonic Intelligence-P, Mabwell-B grey market
关键词：药明康德，达美乐披萨财报，曦智科技 - P、迈威生物 - B 暗盘
In terms of new stocks, Photonic Intelligence-P (01879.HK) and Mabwell-B (02493.HK) will start grey market trading.
新股方面，曦智科技 - P (01879.HK)、迈威生物 - B (02493.HK) 暗盘。
In terms of earnings, WuXi AppTec ([603259.SH](603259.SH)), Montage Technology (06809.HK), Haitian Flavour & Fragrance (03288.HK), Haier Smart Home (06690.HK), COSCO Shipping Energy (01138.HK), Tianqi Lithium (09696.HK), Cambridge Technology (06166.HK) and Domino's Pizza ([DPZ.US](DPZ.US)) will release their financial reports.
业绩方面，药明康德 ([603259.SH](603259.SH))、澜起科技 (06809.HK)、海天味业 (03288.HK)、海尔智家 (06690.HK)、中远海能 (01138.HK)、天齐锂业 (09696.HK)、剑桥科技 (06166.HK)、达美乐比萨 ([DPZ.US](DPZ.US)) 将发布财报。
Niuniu Morning Reading:
牛牛晨读：
Speculation is not impossible, but never mistake speculation for investment.
——Benjamin Graham
投机不是不行，但千万不要把投机当成投资。
—— 本杰明・格雷厄姆
Disclaimer: The content of this article is for reference only and does not constitute any investment advice. Past performance is not indicative of future results. The market is risky, and investment requires caution.
免责声明：本文内容仅供参考，不构成任何投资建议。过往业绩不预示未来表现，市场有风险，投资需谨慎。
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