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December 01 - December 07 key financial events overview, all times are in Beijing time:
Key focus next week: US-Russia talks, closely monitor the Russia-Ukraine situation. The delayed economic data from the US includes the &#34;Federal Reserve's favorite inflation indicator&#34; September PCE report, personal income report, etc. These data will be key references for the monetary policy meeting on December 9-10. The China-US PMI data will be released on the same day next Monday. NVIDIA will attend the UBS Global Technology and AI Conference.
In addition, next week will see a series of product launch events, including the AI glasses launch and Samsung is expected to release its first foldable smartphone. According to reports, French President Macron will make a state visit to China in early December. EU defense ministers will meet in Brussels to discuss military support for Ukraine. Companies such as Marvell, the &#34;NVIDIA alternative&#34; chip company, and C3.ai, a representative of AI application layers, will release their earnings reports.
<h2>Economic Indicators</h2>
<ul>
<li>China-US PMI Data</li>
</ul>
On December 1st, Monday, China will release the November RatingDog Manufacturing PMI. This index has remained above the expansion-contraction line for three consecutive months, recording 50.6 in October, indicating continued expansion but slowing growth, with new business and output momentum weakening. The market is observing the sustainability of this round of recovery momentum.
On the same day, the US will announce the November ISM Manufacturing Index, with the market expecting a slight increase from the previous value of 48.7 to 49.0. Although still in the contraction zone, regional Federal Reserve surveys show that employment improvements support the index, and inventory and supplier deliveries may also have a positive impact. If the data exceeds expectations, it may strengthen the market's judgment on the manufacturing sector's bottoming rebound.
<ul>
<li>US Bureau of Economic Analysis: &#34;Federal Reserve's favorite inflation indicator&#34; - September PCE report and personal income report rescheduled to December 5th</li>
</ul>
According to the US Bureau of Economic Analysis (BEA), the data release schedule affected during the US government shutdown is as follows: ① The preliminary GDP for Q3 2025 has been canceled, which was originally scheduled for release on October 30th. ② The September PCE (Personal Consumption Expenditures) and personal income report will be released on December 5th at 10 AM Eastern Time (10 PM Beijing time), originally scheduled for October 31st.
<ul>
<li>With the December monetary policy meeting approaching, the Federal Reserve has entered a quiet period, and the market is waiting for the release of the &#34;Federal Reserve's favorite inflation indicator.&#34;</li>
</ul>
Currently, the Federal Reserve has entered a quiet period in preparation for the monetary policy meeting on December 9-10, during which officials will not speak. The market's focus has shifted entirely to the rescheduled release of the US September PCE report on December 5th, which will provide key references before the meeting. The market expects the September core PCE to slightly decrease month-on-month to 0.22%, while the year-on-year growth rate is expected to remain stable at a high of 2.9%
Despite the slowdown in core commodity inflation, rising service prices such as airfares are putting pressure on the economy.
<h2>Financial Events</h2>
<ul>
<li>US-Russia Talks</li>
</ul>
According to CCTV News, on November 27 local time, Russian President Vladimir Putin confirmed in Bishkek, the capital of Kyrgyzstan, that the US delegation will visit Moscow next week (the week of December 1). Putin reiterated that Russia generally agrees to use the US list of solutions to the Ukraine issue as the basis for future negotiations. He stated that negotiating with the current Ukrainian leadership is not practically meaningful at this stage.
Reports indicate that Putin reaffirmed his core position, insisting that the international community must legally recognize Crimea and Donbas as Russian territory. He stated that Russia would only cease fighting after the withdrawal of Ukrainian troops. The international community currently recognizes these regions as belonging to Ukraine.
<ul>
<li>Chinese Foreign Ministry Announces: Wang Yi Will Visit Russia</li>
</ul>
According to the Foreign Ministry website on the 28th, the spokesperson announced that at the invitation of Nikolai Patrushev, Secretary of the Security Council of the Russian Federation, Wang Yi, a member of the Political Bureau of the CPC Central Committee and Director of the Central Foreign Affairs Office, will visit Russia from December 1 to 2 for the 20th round of China-Russia strategic security consultations.
<ul>
<li>Market Focus on Bank of Japan Governor's Speech Next Monday</li>
</ul>
The speech by Bank of Japan Governor Kazuo Ueda will determine the direction of policy. Ueda will speak in Nagoya on December 1, and the market will closely monitor his latest assessment of the &#34;preliminary momentum of the spring wage negotiations&#34; and &#34;core inflation rebounding to 2%.&#34; If he makes positive comments, it will be seen as a strong signal for a rate hike in December.
<ul>
<li>NVIDIA to Attend UBS Global Technology and AI Conference</li>
</ul>
NVIDIA will attend the UBS Global Technology and AI Conference on December 2, and the company's earnings call discussing Q4 fiscal year 2026 results is scheduled for February 25.
<ul>
<li>Li Auto AI Glasses Livis Launch Event</li>
</ul>
Li Auto announced that the launch event for the Livis AI glasses will be held on December 3 at 19:30. From the preview, the core positioning of Livis AI glasses is as an &#34;extended terminal&#34; of the vehicle system. It will extend the AI capabilities of Li Auto's assistant from the car interior into users' daily lives, achieving an integrated smart ecosystem of &#34;people - car - life.&#34; This means that Livis glasses will deeply integrate Li Auto's existing voice assistant and large model capabilities, providing users with a seamless AI interaction experience outside of the vehicle environment. Previously, on the evening of November 25, Li Xiang released a video on social media stating that smart glasses would be launched, saying, &#34;Li Auto AI glasses are the best AI accessory from Li Auto.&#34;
<ul>
<li>XREAL Collaborates with Google to Release AR Glasses Project Aura in December (Date TBD)</li>
</ul>
XREAL is collaborating with Google to officially release AR glasses Project Aura in December 2025, with plans to launch them in the market in 2026. As the world's first official AR terminal device equipped with the Android XR system, these glasses are deeply integrated with Google's Gemini AI technology, aiming to achieve intelligent interactions such as environmental semantic understanding
XREAL is one of the four major domestic AR glasses manufacturers, with its core advantage lying in its outstanding &#34;end-side&#34; hardware capabilities—lightweight and high-transmittance BirdBath optical solution. Project Aura is likely to use Google's self-developed Tensor or similar chips and algorithms to achieve SLAM (Simultaneous Localization and Mapping), gesture recognition, and object tracking locally in real-time, ensuring smooth and natural interactions, which is expected to significantly enhance the performance of AR glasses.
<ul>
<li>French Presidential Palace: Macron to visit China</li>
</ul>
According to Global Times, the French Presidential Palace Élysée announced on the 26th local time that President Macron will make a state visit to China in early December.
<ul>
<li>Bank of Japan Governor Kazuo Ueda and UK Prime Minister Keir Starmer deliver speeches</li>
</ul>
On Monday, December 1st, Bank of Japan Governor Kazuo Ueda delivered a speech in Nagoya. UK Prime Minister Keir Starmer is expected to speak at the Lord Mayor's banquet in London, focusing on foreign policy.
<ul>
<li>EU Defense Ministers meet in Brussels to discuss Ukraine issues</li>
</ul>
Reports indicate that on Monday, December 1st, EU Defense Ministers met in Brussels to discuss military support for Ukraine.
<ul>
<li>MuXi Co., Ltd. initial inquiry date</li>
</ul>
MuXi Co., Ltd. will have its initial inquiry date on December 2nd, with the subscription date on December 5th.
<ul>
<li>Samsung expected to launch its first tri-fold smartphone Galaxy Z TriFold</li>
</ul>
Samsung's first tri-fold smartphone Galaxy Z TriFold is expected to be officially launched on December 5th.
<ul>
<li>Huawei MateX7 foldable screen goes on sale December 5th</li>
<li>European Society for Medical Oncology Asia Congress</li>
</ul>
The European Society for Medical Oncology Asia Congress will be held from December 5th to 7th.
<ul>
<li>YingLing panoramic drone aerial launch event</li>
</ul>
Media from Insta360 learned that the YingLing panoramic drone aerial launch event will be held on December 4th at 19:30, where the YingLing AntigravityAI will be officially unveiled.
<ul>
<li>2025 Artificial Intelligence + Industrial Ecosystem Conference</li>
</ul>
The 2025 Artificial Intelligence + Industrial Ecosystem Conference will be held in Beijing from December 1st to December 3rd.
<ul>
<li>Altay region to give local primary and secondary school students their first snow holiday</li>
</ul>
The Altay region will grant local primary and secondary school students their first snow holiday from December 1st to 5th, 2025.
<h2>Financial Reports</h2>
The AI industry chain is about to enter a period of intensive financial report releases.
On Tuesday, December 2nd, internet leader Credo will be the first to disclose its performance, followed by chip company Marvell, known as the &#34;NVIDIA alternative,&#34; which will announce its financial report on December 3rd. On December 4th, AI application layer representative C3.ai and software giant Salesforce will release their latest financial reports
In addition, next week, ZTE Corporation, Bank of Montreal, Scotiabank, National Bank of Canada, Crowdstrike, and Huiyu Technology will release their financial reports.
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Next week's financial events include the US-Russia talks, the release of China-US PMI data, NVIDIA's attendance at the UBS Global Technology and AI Conference, the AI glasses launch event, and Samsung's launch event for its tri-fold smartphone. French President Macron will visit China, and EU defense ministers will discuss military support for Ukraine. The US economic data, such as the September PCE report, has been rescheduled for release on December 5th

- The week of December 1 to December 7 will feature significant financial events, including U.S.-Russia talks and the release of key economic data such as the September PCE report.  
- China will publish its manufacturing PMI, while major product launches, including AI glasses and Samsung's foldable smartphone, are scheduled.  
- Additionally, French President Macron will visit China, and the EU defense ministers will meet to discuss military support for Ukraine.

Next week's key agenda: US-Russia talks, China-US PMI