HSTECH ETF

03032

Tariffs slashed, great news to celebrate!On May 12, the results of the US-China trade negotiations in Geneva were announced today: significant tariff reductions!Original news quote:Foreign media reported that the US reduced tariffs on China from 145% to 30%, with another 24% temporarily suspended for 90 days. China reduced tariffs on the US from 125% to 10%, with another 24% temporarily suspended for 90 days.However, Chinese media stated that in the reciprocal tariffs, the US cut to 10%, China cut to 10%, and both sides temporarily suspended another 24%.Contradictory? How to understand?Note that this is not contradictory. After Trump took office, the tariffs imposed on us were divided into multiple rounds:a. February this year: Initially, using fentanyl as an excuse, a 10% tariff was imposed on Chinese exports to the US.b. By March, another 10% was added, bringing the cumulative tariff rate to 20%.This was the 20% tariff Trump imposed separately on China using fentanyl as an excuse before universally imposing &#34;reciprocal tariffs&#34; on global trade partners. Dolphin Research here briefly refers to it as the &#34;fentanyl tariffs.&#34;Then, in this wave of uniform global trade war, reciprocal tariffs were first imposed on China:April 2: A 34% tariff was imposed on China (the one allegedly exported with one click in Excel)—bringing it to 54%.April 8: Both sides retaliated, and the US added an additional 50% tariff, bringing the reciprocal tariff portion to 84% and the total tariff to 104%.April 9: Escalation continued, with an additional 41% added to the reciprocal tariff on top of the 84%, bringing it to 125%. Combined with the fentanyl tariffs, the total reached 145%.What is the actual negotiation result?The current negotiation result is:a. US to China: 1) Reciprocal tariff portion: The 40% and 50% retaliatory tariffs added on April 8 and 9 are completely canceled. Of the 34% tariff exported with one click on April 2, 10% remains, and 24% is temporarily suspended for 90 days to leave room for negotiation. 2) Fentanyl portion: The full 20% remains.b. China to the US: Since it’s mainly reciprocal tariffs, China’s response is a one-to-one replication of the US’s actions. China has no other substantive universal tariffs on the US.The final temporary result is, counting from Trump’s second term, the US imposes 30% + 24% (suspended) on China, and China imposes 10% + 24% (suspended) on the US.How to interpret?Clearly positive: With overall tax rates kept relatively low, the key is the 90-day suspension period. This is undoubtedly great news for global markets.Of course, there will be ongoing tug-of-war, but in today’s globalized division of labor: rare earths vs. semiconductors, both sides still have cards to play.The capital market will definitely celebrate with a rally. $Vista GLD(VGZ.US) $HSTECH ETF(03032.HK)

Vista GLD

JD Industrial Development Signs Strategic Cooperation Agreement with Songmics to Build Overseas Warehouse Ecosystem

Goldman Sachs reiterates 'Buy' rating on Tencent, encouraged by progress in its AI strategy

BYD Executive Responds to Doubts Over Singular Battery Technology Route, Stating Multiple Routes Are Being Developed Simultaneously

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Xiaomi EV Reportedly Taps New Battery Suppliers for Second Brand to Optimize Supply Chain

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Kuaishou Releases Short Drama Data: Daily Exposure Hits 129 Million, Supply Up 8x Year-on-Year

BYD, Mercedes, and Red Bull Consortium Bid for Alpine Team Shares and Engine Plant

HINSANG GROUP

RIVERINE CHINA

PASHUN INT RTS

BRAINAURORA-B

SOFTMEDX

GOLDENPOWER

ZHONGKE GROUP

VISION SYNERGY

GEMILANG INTL

GHPC

01810

CARZ

516380

516110

DRIV

515030

Xiaomi is introducing new battery suppliers, Sunwoda and CALB, for its second auto brand, Skynomad, targeting the extended-range SUV market. The first model, Kunlun N3, is set to launch in late 2026, featuring a large battery pack and a price around 200,000 yuan. This strategic shift aims to reduce reliance on existing suppliers and enhance supply chain management, as Xiaomi seeks to compete in the family SUV segment dominated by Li Auto and Aito.

- Xiaomi is partnering with battery suppliers Sunwoda and CALB for its first model, Kunlun, under the new sub-brand Skynomad, aiming to optimize supply chain management.  
- Skynomad's Kunlun N3 SUV, launching in late 2026, targets the family market with a competitive price around 200,000 yuan and an electric range of 400 to 500 kilometers.  
- This strategic shift from relying on CATL and BYD reflects Xiaomi's intent to enhance supply chain versatility amid fierce competition in China's battery market.

CnEVPost

XIAOMI-W

Li Auto

First Trust S-Network Future Vehicles & Tech ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

Guotai CSI 800 Automobile and Parts ETF

Global X Autonomous & Electric V

Hua Xia CSI New Energy Vehicles ETF

SUNWODA

CALB

LI AUTO-W

CATL

BYD COMPANY

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

CATL HK SDR 30to1

BYD HK SDR 10to1

BYD Company

BYD Company Limited

BYD COMPANY-R

Xiaomi EV reportedly taps new battery suppliers for second brand to target EREV market

00981

688981

159995

159516

588170

Morgan Stanley analyst maintained a Buy rating on Semiconductor Manufacturing International today and set a price target of HK$85.00.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Semiconductor Manufacturing International has an analyst consensus of Strong Buy, with a price target consensus of HK$86.24.

- Morgan Stanley analyst maintained a Buy rating on Semiconductor Manufacturing International, setting a price target of HK$85.00.  
- The company has an analyst consensus of Strong Buy, with a price target consensus of HK$86.24.  
- This indicates positive expectations from analysts regarding the company’s stock performance.

Tip Ranks

SMIC

ChinaAMC Guozheng Semiconductor Chip ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Morgan Stanley

SMIC HK SDR 5to1

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

Semiconductor Manufacturing International (0981): New Buy Recommendation for This Technology Giant

BYDDY

BYDDF

01211

002594

BYD launched an upgraded Denza N9 SUV at a starting price of 409,800 yuan, marking a shift towards a premium market. The new model features over 100 upgrades, including improved battery range and fast-charging capabilities. Denza aims to capture the luxury segment, with 70% of buyers being former owners of high-end brands. Despite a 41.5% drop in sales this year, BYD is focusing on Denza for its export strategy, recently promoting the brand in Europe with actor Daniel Craig.

- BYD launched an upgraded version of its Denza SUV at a starting price of 409,800 yuan ($77,118), marking a shift towards a more profitable image.  
- The new Denza N9 includes over 100 upgrades, such as enhanced battery range and a fast-charging capability, appealing to buyers who previously owned luxury brands like BMW and Mercedes-Benz.  
- Despite facing a 41.5% drop in sales in early 2026, BYD aims to leverage Denza for high-margin exports, recently introducing the brand in Europe during a prominent event.

Asiaone

Bayerische Motoren Werke AG

BAYERISCHE MOTOREN WERKE AG ADR EACH REPR 0.33333 SHS SPONSORED

Mercedes-Benz Group AG

Toyota Motor Corp.

Toyota Motor

ZEEKR Intelligent Tech

Bayerische Motoren Werke AG Pref

Toyota

BYD unveils upgraded flagship Denza SUV to bolster premium market push

159636

159131

Citi upgraded SMIC, China's largest chipmaker, to Buy, citing strong domestic chip localization and rising AI demand. SMIC reported Q1 revenue of $2.5 billion, up 12% year-on-year, with a gross margin of 20.1%. The company expects Q2 revenue growth of 14-16% and improved margins. Despite challenges like a memory supply crunch and geopolitical tensions, SMIC is positioned to benefit from China's push for technological self-sufficiency.

- Citi upgraded SMIC, China's largest semiconductor company, to Buy, citing strong domestic chip localization, rising AI demand, and improving pricing power.  
- The company reported a first-quarter revenue of $2.5 billion, up 12% year-on-year, with an improved gross margin of 20.1%.  
- SMIC's outlook for the second quarter indicates revenue growth of 14–16% sequentially, bolstered by increasing demand for various chip types amid challenges such as geopolitical tensions and a memory supply crunch.

Investing

ICBCCS CNI HK Connect Technology ETF

Hwabao WP CSI HK Connect Information Technology Composite ETF

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Buy this China chip stock, Citi says

159323

BYD's premium brand Denza has launched the N9 flash charging edition SUV, starting at 409,800 yuan ($60,260), lower than the previous pre-sales price. The model features a second-generation BYD Blade Battery, capable of charging to 97% in just 9 minutes. It offers a range of 420 kilometers on electric power and a combined range of 1,520 kilometers. The N9 is equipped with advanced technology, including a powerful 2.0T engine and smart driving assistance systems.

- The Denza N9 flash charging edition SUV is launched at a starting price of 409,800 yuan ($60,260), lower than the previously announced pre-sales price of 450,000 yuan.  
- Equipped with BYD's second-generation Blade Battery, it can charge from 10% to 97% in just 9 minutes, achieving a combined range of 1,520 kilometers.  
- Denza aims to expand flash charging station coverage within a 3-kilometer radius in major Chinese cities by the end of 2026.

ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

BYD Denza launches N9 flash charging edition, featuring 9-minute fast charging

Pop star Wang Leehom has exchanged his endorsement fee from Denza, a BYD brand, for BYD stock, expressing regret for not investing in the company earlier. He believes in BYD's long-term potential after a decade of collaboration. The Denza N9 flash charging edition was launched, featuring advanced battery technology and a starting price of 409,800 yuan. BYD's shares have seen a 6% decline this year.

- Renowned musician Wang Leehom announced that he used his endorsement fee from Denza to purchase BYD shares, expressing confidence in the company's long-term prospects.  
- He recalled his regret over not investing in BYD a decade ago, stating that such an investment could have yielded fivefold returns today.  
- The Denza N9 flash charging edition was launched with advanced features, including rapid charging capabilities and a high-performance tri-motor system, starting at 409,800 yuan ($60,290).

Pop star Wang Leehom swaps Denza endorsement fee for BYD stock

BYD's premium sub-brand Denza has reached a production milestone of 500,000 vehicles, celebrating its 16th anniversary. The Denza N9 flash charging edition, set to launch on May 18, features a price range of 450,000 to 500,000 yuan and boasts advanced charging technology, allowing full charge in just 9 minutes. Despite a 38.05% decline in sales in early 2025, Denza sold 157,134 vehicles in 2024, marking a 24.67% increase from the previous year.

- Denza, BYD's premium sub-brand, will launch the Denza N9 flash charging edition on May 18 after pre-sales began on April 7, priced between 450,000 yuan ($66,080) and 500,000 yuan.  
- This flagship SUV features BYD's second-generation Blade Battery with a capacity over 75 kWh and can achieve a pure electric range of 420 kilometers under the CLTC standard, with a charging time of just 9 minutes.  
- Denza, now wholly owned by BYD, celebrated its 500,000th vehicle milestone while recording a 24.67 percent sales increase in 2025, though sales in the early months of 2026 showed a decline.

BYD Denza hits 500,000-vehicle production milestone with N9 flash charging edition

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DBS analyst Jim Hin Kwong Au has maintained a Buy rating for Semiconductor Manufacturing International (0981) with a price target of HK$87.40. The analyst, known for a 30.1% average return and 69.23% success rate, is part of a Strong Buy consensus for the stock, which has an average price target of HK$89.65.

- A report from Jim Hin Kwong Au at DBS maintains a Buy rating on Semiconductor Manufacturing International with a price target of HK$87.40.  
- Au is a 5-star analyst with an average return of 30.1% and a 69.23% success rate, focusing on the Technology sector.  
- The general analyst consensus for Semiconductor Manufacturing International indicates a Strong Buy rating with an average price target of HK$89.65.

XI2CSOPHSTECH

Micron Tech

BYD ELECTRONIC

ASMPT

New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant

STLA

BYD is in discussions with several automakers, including Stellantis, to acquire factories in Europe as part of its strategy to expand new energy vehicle exports. The company aims to utilize existing production capacity and has reported significant growth in exports, exceeding 100,000 units monthly for six consecutive months.

- BYD is exploring the acquisition of factories in Europe from other automakers as part of its strategy to expand new energy vehicle exports.  
- The company is in negotiations with Stellantis and other automakers to take over existing plants to better utilize production capacity.  
- BYD's export numbers have surged, with monthly new energy vehicle exports exceeding 100,000 units for six consecutive months, totaling 456,263 vehicles in the first four months of this year.

TechNode

Stellantis NV

BYD in talks with automakers over European factory takeovers

Xiaomi EV has unveiled its new YU7 GT model in 'Crimson Red', set to launch in late May. The high-performance electric SUV features up to 990 hp, a top speed of 300 km/h, and a range of 705 km. Priced between 450,000 and 500,000 yuan, it aims to balance performance and comfort, distinguishing itself from the SU7 Ultra. The YU7 GT is designed for long-distance travel and has undergone rigorous testing at Germany's Nürburgring Nordschleife.

- The Xiaomi YU7 GT is a high-performance electric SUV set to launch in late May, featuring up to 990 hp and a 705 km electric range.  
- Unlike the SU7 Ultra, it focuses on balancing performance with long-distance comfort rather than pure track capabilities.  
- Priced between 450,000 yuan ($66,320) and 500,000 yuan, the YU7 GT aims to enhance Xiaomi's position in the high-end EV market.

Xiaomi EV reveals 'Crimson Red' YU7 GT ahead of late May launch