[Today's Headlines]
Approval of Domestic Nuclear Power Projects in 2025: State Council Approves 10 New Units, Driving Over 200 Billion Investment
The approval of domestic nuclear power projects in 2025 has officially begun. According to news from CCTV on April 27, the State Council's executive meeting held that day decided to approve nuclear power projects including the Zhejiang Sanmen Phase III project. Journalists from various industry sources learned that the new projects approved at the State Council meeting include Guangxi Fangchenggang Nuclear Power Phase III, Guangdong Taishan Nuclear Power Phase II, Zhejiang Sanmen Nuclear Power Phase III, Shandong Haiyang Nuclear Power Phase III, and Fujian Xiapu Nuclear Power Phase I, totaling 5 projects and 10 new units. Since 2022, China has approved 10 or more nuclear power units each year for four consecutive years, maintaining a normalized approval pace. It is reported that all the new projects mentioned above adopt independent third-generation nuclear power technology, including 8 Hualong One units. Nuclear power projects have always been an important driving force for expanding effective investment, with an estimated investment of about 20 billion yuan for each domestically produced million-kilowatt third-generation nuclear power unit, bringing the total investment for the newly approved units to over 200 billion yuan. Market news indicates that China General Nuclear Power Group has the highest share in this newly approved project, once again becoming a big winner.
[Market Outlook]
U.S. Stock Indices Rise Collectively, Tesla (TSLA.US) Up 9.8%
As of the market close last weekend, the Dow Jones Industrial Average rose 20.10 points, an increase of 0.05%, closing at 40,113.50 points; the Nasdaq Composite Index rose 216.90 points, an increase of 1.26%, closing at 17,382.94 points; the S&amp;P 500 Index rose 40.44 points, an increase of 0.74%, closing at 5,525.21 points. Tesla (TSLA.US) rose 9.8%, and NVIDIA (NVDA.US) rose 4.3%. The Nasdaq China Golden Dragon Index fell 0.4%, with XPeng (XPEV.US) down 3.5%. The Hang Seng Index ADR rose, closing at 22,070.13 points, up 89.39 points or 0.41% compared to the Hong Kong close.
[Hot Topics Ahead]
Ministry of Commerce and 6 Other Departments: Lowering the Threshold for Departure Tax Refunds and Optimizing Departure Tax Refund Payment Services
According to Zhitong Finance APP, on April 27, the Ministry of Commerce and 6 other departments issued a notice on further optimizing the departure tax refund policy to expand inbound consumption. The notice stated that the threshold for departure tax refunds would be lowered. Foreign travelers who purchase tax refund items at the same store on the same day amounting to 200 yuan and meet other relevant regulations can apply for departure tax refunds. The departure tax refund payment service will be optimized. The cash refund limit will be raised to 20,000 yuan. Efforts will be made to promote cooperation between tax refund agencies and payment institutions, clearing institutions, etc., to provide tax refund services through various methods such as mobile payments, bank cards, and cash, under the premise of controllable risks, better meeting the diverse payment service needs of foreign travelers.
State Council Approves Establishment of Comprehensive Pilot Zones for Cross-Border E-Commerce in Hainan Island and 15 Other Cities (Regions)
According to Zhitong Finance APP, on April 25, the State Council issued a reply approving the establishment of comprehensive pilot zones for cross-border e-commerce in Hainan Island and 15 other cities (regions). It was stated that approval was granted for Hainan Island, Qinhuangdao City, Baoding City, Erenhot City, Dandong City, Chuzhou City, Sanming City, Kaifeng City, Xinxiang City, Ezhou City, Shaoyang City, Wuzhou City, Beihai City, Fangchenggang City, and Guang'an City
Bortala Mongol Autonomous Prefecture and 15 other cities (regions) have established comprehensive pilot zones for cross-border e-commerce, named the China (city or region name) Comprehensive Pilot Zone for Cross-Border E-Commerce. The specific implementation plans will be issued by the provincial people's governments where they are located. At the same time, the comprehensive pilot zones for cross-border e-commerce established in Haikou, Sanya, and Alashankou will be revoked.
Central Finance to Support 60 Counties This Year for Small Water Diversion Project Construction
According to the Ministry of Water Resources, by 2025, the Ministry of Finance and the Ministry of Water Resources will further support 60 counties in 29 provinces and the Xinjiang Production and Construction Corps to carry out small water diversion engineering projects through central water development funds, driving local financial and social capital investment, accurately addressing issues such as unstable rural water supply sources and insufficient pipeline distribution capacity, and significantly enhancing the scale of rural water supply in counties.
Financial Regulatory Administration: Allows Insurance Companies to Adjust Minimum Guaranteed Interest Rates for Universal Life Insurance Products When Meeting Relevant Constraints
Regulate product development. It is clarified that universal life insurance provides a minimum guaranteed interest rate, allowing insurance companies to adjust the minimum guaranteed interest rate for universal life insurance products when meeting relevant constraints, especially during periods of declining interest rates, to effectively prevent interest spread risk. At the same time, the upper limit of basic insurance premiums for regular premium universal life insurance will be appropriately increased to encourage the development of long-term universal life insurance.
State Administration for Market Regulation: Parties Involved in CK Hutchison Port Transactions Must Not Evade Antitrust Review in Any Way
Recently, a spokesperson for the State Administration for Market Regulation answered reporters' questions regarding CK Hutchison's port transactions. A reporter asked: According to the Wall Street Journal's report on April 16, CK Hutchison's sale of overseas ports will be split into two transactions to proceed. What is the comment from the State Administration for Market Regulation? Answer: We are highly concerned about the relevant transactions and will conduct reviews in accordance with the law. The parties involved in the transactions must not evade the review in any way, and no concentration shall be implemented before approval is obtained, otherwise, they will bear legal responsibility.
Alibaba's AI Flagship Application Quark Launches New &#34;AI Camera&#34;
On April 27, Alibaba's AI flagship application Quark AI Super Box launched a new AI camera, introducing the &#34;Photo Ask Quark&#34; feature. Based on the visual understanding and reasoning model capabilities behind the AI Super Box, the new Quark AI camera can deeply understand user intentions, better achieve visual search, multi-turn Q&amp;A, image processing, and creation.
CanSino Biologics (09926): I-DaFang® (Ivosidenib, PD-1/VEGF) Second Indication New Drug Application Approved by NMPA for First-Line Treatment of PD-L1 Positive NSCLC
According to Zhitong Finance APP, CanSino Biologics (09926) announced that the company's independently developed world-first bispecific antibody I-DaFang® (Ivosidenib, PD-1/VEGF) has received approval from the National Medical Products Administration (NMPA) for its new drug application (sNDA) for first-line treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) that is PD-L1 positive (TPS≥1%) and negative for epidermal growth factor receptor (EGFR) gene mutations and anaplastic lymphoma kinase (ALK). This is the second indication for Ivosidenib's approval, making it a reality for Chinese patients to &#34;be the first to use the world's best treatment options.&#34;
Sihuan Pharmaceutical (00460): The polylactic acid facial filler (童颜针) independently developed by Meiyan Space has received market approval from the National Medical Products Administration
According to Zhitong Finance APP, Sihuan Pharmaceutical (00460) announced that the polylactic acid facial filler (the product) independently developed by its subsidiary Meiyan Space Biotechnology (Jilin) Co., Ltd. has officially received the Class III medical device registration certificate approved by the National Medical Products Administration of China, used to correct moderate to severe nasolabial fold wrinkles. This marks another significant breakthrough for Sihuan Pharmaceutical in the field of regenerative medical aesthetics, further consolidating the group's technological leadership position in the high-end medical aesthetics materials market.
Yuan Da Pharmaceutical (00512): Early detection product for urinary system tumors achieves first commercial prescription in mainland China
According to Zhitong Finance APP, Yuan Da Pharmaceutical (00512) announced that recently, the group's nuclear medicine anti-tumor diagnosis and treatment sector collaborated with Beijing Xiangxin Biotechnology Co., Ltd. (Jinxiang Medical) to develop the early detection product for urinary system tumors, Youai®, which has achieved its first commercial prescription at Huadong Hospital affiliated with Fudan University in Shanghai. This marks the official clinical application of the only approved early detection product for urothelial carcinoma in China that utilizes a dual mechanism of methylation and gene mutation, providing more precise non-invasive tumor diagnosis services for Chinese patients.
BYD Company Limited (01211) reports a net profit attributable to shareholders of 9.155 billion yuan in the first quarter, an increase of 100.38% year-on-year
According to Zhitong Finance APP, BYD Company Limited (01211) released its first-quarter report for 2025, with operating revenue of 170.36 billion yuan (RMB, the same below), an increase of 36.35% year-on-year; net profit attributable to shareholders of the listed company was 9.155 billion yuan, an increase of 100.38% year-on-year; basic earnings per share were 3.12 yuan; weighted average return on net assets was 4.37%.
BYD Electronics (00285) announces first-quarter results, profit attributable to equity holders of the parent company approximately 622 million yuan, an increase of 1.92% year-on-year
According to Zhitong Finance APP, BYD Electronics (00285) announced its first-quarter results for 2025, with revenue of approximately 36.88 billion yuan, a year-on-year increase of 1.1%. Gross profit was approximately 2.3246 billion yuan, a year-on-year decrease of 7.35%. Profit attributable to equity holders of the parent company was approximately 622 million yuan, a year-on-year increase of 1.92%. Earnings per share were 0.28 yuan.
Crown Bioscience (03759) first-quarter results, net profit attributable to shareholders of 306 million yuan, an increase of 32.54% year-on-year
According to Zhitong Finance APP, Crown Bioscience (03759) released its first-quarter results for 2025, with operating revenue of 3.099 billion yuan, a year-on-year increase of 16.03%; net profit attributable to shareholders of the listed company was 306 million yuan, a year-on-year increase of 32.54%; basic earnings per share were 0.1736 yuan.
Jinli Permanent Magnet (06680) releases first-quarter results for 2025, net profit attributable to shareholders of 161 million yuan, an increase of 57.85% year-on-year
According to Zhitong Finance APP, Jinli Permanent Magnet (06680) released its first-quarter results for 2025, with operating revenue of 1.754 billion yuan, a year-on-year increase of 14.19%; net profit attributable to shareholders of the listed company was 161 million yuan, a year-on-year increase of 57.85%
Basic earnings per share of 0.12 yuan.
【Stock Highlights】
UBTECH (09880): Officially signs a small batch humanoid robot procurement contract
UBTECH's official WeChat account announced that the company has officially made substantial progress in its work with several well-known car manufacturers to conduct practical training with embodied intelligent humanoid robots. On April 24th, UBTECH officially signed a procurement contract for large biped humanoid robots with the buyer, involving products mainly including the industrial humanoid robot Walker S1 and the commercial version humanoid robot Walker C. These products will be used in production and manufacturing processes as well as commercial reception in automotive factories. This marks the first time a humanoid robot company globally has signed a small batch humanoid robot procurement contract. The implementation of this procurement contract signifies that UBTECH has taken a solid step towards the commercialization of embodied intelligent humanoid robots in industrial manufacturing scenarios, and it also further validates the application prospects of embodied intelligent humanoid robots in industrial manufacturing scenarios such as automotive factories. UBTECH will continue to deepen its research and commercialization of embodied intelligent humanoid robots, preparing for future mass production and delivery.
UBTECH founder, chairman of the board, and CEO Zhou Jian introduced at the performance meeting on March 31st that this year, UBTECH's goal is to produce approximately 1,000 humanoid robots, all of which will enter real customer scenarios to collect more data. Beyond industrial scenarios, according to a previous announcement by UBTECH, Juran Smart Home plans to procure and deploy 500 UBTECH humanoid robots by the end of 2025, with a plan to sell 10,000 units during the cooperation period

Alibaba  earnings 

TSLA

In 2025, the approval of domestic nuclear power projects has been opened for the first time, with the State Council approving 10 new units, driving over 200 billion in investment. The approved projects include five projects in Fangchenggang, Guangxi; Taishan, Guangdong; Sanmen, Zhejiang; Haiyang, Shandong; and Xiapu, Fujian, all using independent third-generation nuclear power technology. The three major U.S. stock indices rose, with Tesla up nearly 10%

- The Chinese government has approved the construction of 10 new nuclear power units, marking the first approval of domestic nuclear projects in 2025, with a total investment exceeding 200 billion yuan.  
- The approved projects include five nuclear power plants across various provinces, utilizing domestically developed third-generation nuclear technology.  
- This initiative is expected to significantly boost effective investment in the sector, continuing a trend of approving at least 10 units annually since 2022.

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Zhitong Hong Kong Stock Early Knowledge | The State Council approves 10 new units, driving over 200 billion investment, Tesla surges nearly 10%