<p>Good morning! A great day starts with making money.</p>
<p>Last week, the S&amp;P 500 index fell by 4.25%, marking the largest weekly decline since March 2023; the Nasdaq index accumulated a 5.77% drop, marking the largest weekly decline since November 2022. The Dow fell by 2.93%.</p>
<h3>Important Events and Data for This Week: August CPI for China and the U.S., Harris and Trump Debate</h3>
<p>Monday: China's August CPI, PPI; U.S. July wholesale sales monthly rate, August New York Fed 1-year inflation expectation. Oracle released its performance.</p>
<p>Tuesday: China's August trade balance; U.S. August NFIB Small Business Confidence Index. Apple's September new product launch event; Huawei held the Extraordinary Brand Event and HarmonyOS Smart Travel new product launch event. GME released its performance.</p>
<p>Wednesday: U.S. August CPI. U.S. presidential candidates Harris and Trump debated on ABC News. C3.ai released its performance.</p>
<p>Thursday: U.S. initial jobless claims up to September 7th; U.S. August PPI. Adobe released its performance.</p>
<p>Friday: U.S. August import price index monthly rate, September 1-year inflation rate expectation initial value, September University of Michigan Consumer Confidence Index initial value.</p>
<p>Saturday: China's August total retail sales of consumer goods, August value-added industrial output of large-scale industries. The National Bureau of Statistics of China released the monthly report on residential sales prices in 70 large and medium-sized cities.</p>
<h3>Probability of a 25 basis point rate cut by the Fed in September is 71%</h3>
<p>According to CME's &#34;FedWatch&#34;: the probability of a 25 basis point rate cut by the Fed in September is 71.0%, while the probability of a 50 basis point rate cut is 29.0%.</p>
<h3>Musk Responds to Tesla's Declining Market Share in China</h3>
<p>Data shows that Tesla's market share in the Chinese electric vehicle market has dropped from 9% a year ago to 6.5% in July this year, and Tesla has not released any new cars in China since 2019. In response, Musk called it &#34;stupid&#34; and emphasized that Tesla's Shanghai factory is operating at maximum capacity.</p>
<h3>Tesla to Share FSD Revenue with xAI? Musk: Inaccurate</h3>
<p>According to The Wall Street Journal, Tesla will obtain AI model authorization from xAI under Musk to drive its assisted driving system and Full Self-Driving (FSD) technology, and share some revenue with the latter. Musk denied this, calling the report &#34;inaccurate.&#34;</p>
<h3>Media: Intel to Outsource Production of All Chips Below 3 Nanometers to TSMC</h3>
<h3>Media: Apple's Next-Generation iPhone Chips to Use ARM V9 Architecture</h3>
<p>According to the Financial Times, Apple's next-generation iPhone using ARM's latest V9 chip design marks a significant step in introducing artificial intelligence features into its smartphones. ARM CEO Rene Haas has stated that the licensing fees for V9 are twice that of the previous generation V8.</p>
<h3>Less than 24 Hours into Pre-Orders, Huawei's Tri-Fold Phone Exceeds 2 Million Reservations</h3>
<p>Huawei's Mate XT Extraordinary Master began pre-orders on September 7th at 12:08. This tri-fold phone will be officially launched at Huawei's event on September 10th, with the price to be announced at that time, and will officially go on sale on September 20th at 10:08</p>
<h3>The U.S. House of Representatives will vote on the &#34;Biosecure Act&#34; on the 9th</h3>
<p>The &#34;Biosecure Act&#34; restricts federal agencies in the United States from conducting business with foreign biotechnology companies under the guise of &#34;national security.&#34; It specifically names 5 Chinese companies, namely WuXi AppTec, WuXi Biologics, BGI Group, BGI Affiliated Company BGI Genomics, and BGI Subsidiary Complete Genomics.</p>
<h3>Midea plans to issue H shares in Hong Kong with a maximum price of HKD 54.8 per share</h3>
<p>Midea Group announced on the Hong Kong Stock Exchange that it plans to issue 492.1 million H shares for listing in Hong Kong, with an expected issue price ranging from HKD 52 to 54.8 per share. The pricing is expected to be confirmed on September 13th, with trading on the Hong Kong Stock Exchange commencing on September 17th.</p>
<h3>Chow Tai Fook and Chow Sang Sang aggressively closing stores</h3>
<p>Chow Tai Fook's retail sales in the second quarter dropped significantly by 20% year-on-year. In particular, retail sales in mainland China decreased by 18.6%, while those in Hong Kong, Macau, and other markets fell by 28.8%. Chow Tai Fook closed 91 stores in the second quarter and a total of 180 stores in the first half of this year. In the first half of the year, Chow Sang Sang's net profit attributable to shareholders dropped by 36% to HKD 526 million, with the closure of 47 branches.</p>
<h3>Cui Dongshu from China Passenger Car Association: Profits of the new energy battery industry chain are shifting from upstream and downstream to midstream batteries</h3>
<p>Cui Dongshu, Secretary-General of the China Passenger Car Association, stated that by 2024, although the overall revenue and profits of the new energy battery industry chain will decrease year-on-year, the lithium battery segment will be the most profitable, capturing 60% of the industry's profits. New energy vehicle companies that do not produce batteries will face challenges, so future internationally-oriented large independent brand vehicle companies must produce lithium batteries.</p>
<h3>Huawei's Richard Yu: Aito M7 series has delivered a cumulative total of 220,000 vehicles</h3>
<h3>China's Ministry of Commerce and two other departments: Propose allowing the establishment of wholly foreign-owned hospitals in Beijing, Tianjin, Shanghai, and other places</h3>
<h3>Musk jokes about Chinese game &#34;Black Myth: Wukong&#34;</h3>
<p>Musk posted a &#34;Wukong version&#34; AI photo on the social media platform, jokingly stating, &#34;Impressive 3A game from China! Seems oddly familiar.&#34;</p>
<p><img src="https://pub.pbkrs.com/uploads/2024/c207a5bee8b02eeb2fd344acc2a49068?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/uploads/2024/c207a5bee8b02eeb2fd344acc2a49068"/></p>

ADBE

HUAWEI

AAPL

<p>The U.S. House of Representatives will vote on the "Biosecurity Act" on the 9th. Apple's new iPhone will use ARM's latest V9 chip technology for artificial intelligence. Intel will commission TSMC to produce all chips below 3 nanometers. Huawei's three foldable phones exceeded 2 million pre-orders in 24 hours. Musk made a joke about the Chinese game "Wukong"</p>

- Key events and data this week include China and the US August CPI, Harris and Trump's debate, China's August CPI and PPI, US July wholesale sales, NY Fed's 1-year inflation expectation, Oracle's earnings release, China's trade balance, Apple's September product launch, GME's earnings, US August CPI, Harris and Trump's debate, C3.ai's earnings, US initial jobless claims, US August PPI, Adobe's earnings, US August import price index, Michigan University's consumer sentiment index, China's August retail sales, and industrial value-added data.
- The week is packed with significant economic indicators and corporate performances, shaping market sentiments and investor decisions.
- Stay tuned for updates on these events to navigate the dynamic financial landscape effectively.

Breakfast | This week's major events: US-China CPI pressures the market, Apple and Huawei go head-to-head on the same day