<p>Good morning! A great day starts with making money.</p>
<h3>Key Focus This Week</h3>
<p><strong>On Monday, the U.S. financial markets are closed for Labor Day.</strong></p>
<p>Key macroeconomic data releases:</p>
<ul>
<li>Monday: China's Caixin Manufacturing PMI for August;</li>
<li>Tuesday: U.S. ISM Manufacturing Index for August;</li>
<li>Wednesday: U.S. July Durable Goods Orders final value;</li>
<li>Thursday: U.S. ADP Employment for August, Federal Reserve releases Beige Book;</li>
<li>Friday: <strong>U.S. Non-Farm Payrolls for August.</strong></li>
</ul>
<p>Additionally, <strong>on Thursday, NIO will announce its first-half performance report.</strong></p>
<p>On Friday, the &#34;third person&#34; of the Federal Reserve, FOMC permanent voters, New York Fed President Williams, and Fed Governor Waller will deliver speeches.</p>
<h3>Report: U.S. Delays Final Decision on Chinese Goods Tariffs Again</h3>
<p>According to reports from U.S. media cited by Reference News, on August 31st local time, the Biden administration once again postponed announcing high tariffs on electric vehicles, batteries, semiconductors, and solar panels manufactured in China, stating that the final decision will be announced in the coming days.</p>
<h3>China's Official Manufacturing PMI for August is 49.1</h3>
<ul>
<li>Influenced by factors such as recent high temperatures, heavy rainfall, and seasonal production declines in some industries, China's manufacturing business activity slightly declined in August. However, the high-tech manufacturing sector returned to expansion, large enterprises' PMI remained in expansion, and overall production and business activities of Chinese enterprises maintained a slight expansion.</li>
<li>Minsheng Securities stated that behind the marginal decline in PMI lies various negative impacts from extreme weather and natural disasters, which amplified the decline in PMI. September might be a point for policy easing, but the arrival of policies may lean towards a &#34;gradual&#34; approach.</li>
</ul>
<h3>New Energy Vehicle Companies Announce August Production Results</h3>
<p>Xiaomi's car SU7 delivered over 10,000 units, achieving the goal of over 10,000 deliveries for 3 consecutive months, and is expected to achieve the annual goal of 100,000 deliveries ahead of schedule in November.</p>
<p>Li Auto delivered 48,122 new cars, a year-on-year increase of 37.8%.</p>
<p>Leapmotor delivered 30,305 units, becoming the third new force in car manufacturing to sell over 30,000 units in a month, with a year-on-year growth of over 113.5% and a month-on-month growth of over 37.1%.</p>
<p>NIO delivered 20,176 new cars in August, exceeding 20,000 units for 4 consecutive months.</p>
<p>XPeng delivered a total of 14,036 new cars in August, a 3% year-on-year increase.</p>
<p>ZEEKR delivered 18,015 cars in August, a 46% year-on-year increase and a 15% month-on-month increase.</p>
<h3>Will the Fed Cut Rates by 25 or 50 Basis Points? Watch the Last Non-Farm Payrolls Before the September Decision</h3>
<p>The market generally expects the August non-farm payrolls to rebound compared to July, but Citigroup believes it will be almost as weak as July, confirming a real weakening in labor demand, which may lead the Fed to cut rates by 50 basis points in September.</p>
<h3>Goldman Sachs Plans to Cut 3% to 4% of its Global Workforce, i.e., 1,300 to 1,800 People</h3>
<p>Normally, Goldman Sachs reduces its total workforce by 2% to 7% annually based on various performance factors, and the specific layoff ratio fluctuates depending on market conditions and the company's financial outlook</p>
<h3>Telegram Financial Report Exposed</h3>
<p>Revenue from cryptocurrency-related businesses has supported Telegram's &#34;dominance&#34;. Among them, the revenue from just &#34;Integrated Wallet&#34; and &#34;Collectibles Sales&#34; in the cryptocurrency-related businesses accounts for over 40%.</p>
<h3>Hong Kong Property Developer &#34;New World Development&#34; Suffers First Loss in 20 Years with &#34;Most Debt&#34;!</h3>
<p>New World Development stated that insufficient revenue recognition from major projects such as Pavilia Farm I and Pavilia Farm II has impacted the company's core profits. In addition, the provision for impairment of two large assets is also a major reason for the company's profit decline</p>

<p>In the first week of September, key focuses include the US August non-farm payrolls, Sino-US manufacturing data, and NIO's financial report on Thursday! In terms of performance of new energy vehicle companies, Xiaomi's car delivery volume exceeded 10,000 units in August, achieving the goal of over 10,000 deliveries for 3 consecutive months; Leapmotor delivered 30,305 units, becoming the third Chinese new force in car manufacturing to exceed 30,000 monthly sales</p>

- This week in the financial markets: China's August Caixin Manufacturing PMI on Monday, US August ISM Manufacturing Index on Tuesday, US July durable goods orders on Wednesday, US August ADP employment and Fed's Beige Book on Thursday, and US August non-farm data on Friday. Notably, delays in announcing final decisions on Chinese goods tariffs by the Biden administration. China's August official Manufacturing PMI at 49.1, showing a slight decline due to various factors. New energy car companies like Xiaomi, NIO, and Xpeng reported strong delivery numbers for August.
- Market expectations on the Fed's interest rate cut, with Citigroup suggesting a potential 50 basis point cut in September. Goldman Sachs planning a global workforce reduction of 3% to 4%. Telegram's financial report reveals significant revenue from cryptocurrency-related businesses. Hong Kong property developer New World Development records its first loss in 20 years due to income recognition issues and asset write-downs.
- Overall, a mix of macroeconomic data, trade uncertainties, and corporate performance highlights the dynamic landscape in finance and economics this week.

LB Select

XIAOMI-W

Xiaomi Corporation

NIO-SW

NIO Inc. USD OV

Li Auto

LI AUTO-W

XPeng

XPENG-W

LEAPMOTOR

ZEEKR Intelligent Tech

XIAOMI-WR

Breakfast | US stock market closed today! Xiaomi, NIO, and Li Auto to release August carmaking report