SSally

$KINGSOFT(03888.HK) It's been grinding again in this wave. Analysts have upgraded their ratings, and the P/E ratio isn't high either, yet the stock price remains stagnant, lying low and just refusing to rise.

Honestly, at this level, if you say it has no future, its fundamentals do have some merit. But buying in feels like you didn't buy anything at all; the account doesn't move and it's just annoying. Just hold it with a Zen mindset, treat it as a long-term collection.

The medical internet sector has been really tough lately. $PA GOODDOCTOR(01833.HK), $ALI HEALTH(00241.HK) are still declining like chicken ribs, while $MICROPORT(00853.HK) and $GIANT BIOGENE(02367.HK) keep falling despite company buybacks, which is quite lamentable. Only $JD HEALTH(06618.HK) is barely rising, but it feels just so-so, with no excitement. Watching the whole day, it's no different from chasing the broader market. In this market, holding positions relies entirely on faith—it's hard to bring oneself to cut losses.

Latest news from the UK: CMA is investigating Google's market behavior in advertising technology to see if it involves unfair competition or abuse of dominance.

This issue is not isolated. Previously, the US Department of Justice also pursued antitrust cases against Google's advertising practices, some even reaching trial stages, along with the EU's history of fines on its advertising business.

In other words, global regulators are indeed keeping a close eye on this giant's advertising chain.

Retail investors should not panic over the news but focus on the substantive impact of subsequent regulatory details and court rulings on the business model.

$SoftBank(SFTBY.US) SoftBank has dropped another 2.5% recently, how to say... A blue-chip mainly focused on investments, with abundant capital and aggressive layouts, planting flags globally, still has a market cap of over 140 billion USD. Looking at the trading volume and turnover, there's not much heat, discussions in the community are quite quiet, foreign institutions aren't making big moves, the historical high is much higher than now 😅 Moreover, with interest and exchange rate fluctuations, it follows without resistance, dividends have never been much, feels like betting on tech is too volatile. The Longbridge community atmosphere is also weak.

UNHG.US To be honest, the fundamental information is still too vague, and the capital movements seem like a warm-up, but without official announcements, it still feels unsettling. Keep waiting and waiting👀

$Tencent Holdings (00700)$ Holy crap, I'm scared, should I sell out? I've made a 30% profit.

Sold part of my position in $Tencent Holdings (00700)$, current holding cost is 300 HKD.

If there's a pullback later, will switch to $China Internet ETF(SZ159605)$. If Tencent continues to rise, will keep selling bit by bit.

Compared with focusing on the quota of stock repurchase and special relending, we pay more attention to the relending interest rate. The bank loan interest rate of special relending is 2.25%, which is very interesting and reflects the official valuation view.

Basically, it has connected the pool of asset returns in the entire capital market and formed a unified market valuation system. Therefore, we can assume the long-term vision of the market:

Government bond interest rate: 2%

Relending interest rate: 2.25%

Stable dividend stock yield: 2.5%

20PE+ for dividend stocks with a 50% payout ratio

This basically matches the market valuation gradient system proposed in "Five Golden Flowers". If there is a bull market, we would like to call it:【Valuation Bull】

Someone asked, since both are backed by the Chinese economy, why has the Hong Kong stock market been strong while the A-share market has been weak this year? The factors determining stock price trends are: 1. Performance (how much money is earned); 2. Cash returns (how much is distributed); 3. Valuation (how much you have to pay to buy); 4. Liquidity (whether there are more buyers or sellers). While both the Hong Kong and A-share markets are indeed backed by the Chinese economy, this only determines the first point (in fact, Hong Kong stocks have a much higher proportion of leading Chinese companies compared to A-shares, meaning this aspect is still better for Hong Kong stocks). Points 2 and 3 are clearly in favor of Hong Kong stocks. For point 4, Hong Kong stocks were heavily affected when foreign capital concentrated on outflows in the past two years, but this year it seems that those who wanted to withdraw have already done so, so the marginal impact has diminished significantly. The result is that Hong Kong stocks have even entered a technical bull market (the ETF of the Hang Seng China Enterprises Index has risen by more than 20%), even outperforming this year's U.S. stocks and significantly surpassing the much-hyped Japanese stocks. Recently, the A-share market has introduced some policies allowing borrowing for buybacks. Let's wait and see if the amount of stock buybacks and cancellations in the A-share market can surge like in Hong Kong! $Honghu Hongfu Active Allocation Phase 1 (P001569)$ $Honghu Steady Macro Hedge (P001576)$

Nvidia (NVDA) should break through 130 in the short term.

Latest forecast on rebound height:

1) Without economic intervention, only financial support; the Shanghai Composite Index is expected to be around the 50-60% percentile based on historical experience, corresponding to a range of 2950-3050.

2) If the index is to break through the empirical recognition zone, new positive factors are needed, especially economic intervention and policy expansion.

3) Due to strong financial support and recovery in trading volume, the stock market faces limited short-term risks and is expected to be dominated by fluctuations and rotations.

4) The next major decision point for trend analysis is expected to be in November-December, when the direction and intensity of economic policies are likely to become clearer.

$Industrial and Commercial Bank of China (SH601398)$ $CITIC Securities (SH600030)$

$WuXi Biologics(02269)$ $WuXi AppTec(SH603259)$ First, no matter what Senate or House, what 3558, 8333, 7085, people only want to think for 5 seconds. Simply put, it's collectively called the "Biosecure Act". No problem, right? The U.S. side wants to push the "Biosecure Act" legislation through various means.

What's the process? First, add BGI and WuXi AppTec, then the stocks start to fall (WuXi Biologics was also falling at this time). Later, WuXi Biologics was added, and its stock fell even harder, the worst drop. Then during the process, some lawmakers proposed to remove WuXi Biologics, and the latest draft of the bill no longer includes WuXi Biologics. Any problem? No problem.

So the 5-second thought process is:

The "Biosecure Act" includes WuXi AppTec;

The "Biosecure Act" adds WuXi Biologics;

The "Biosecure Act" removes WuXi Biologics.

The "Biosecure Act" only focuses on gene business, WuXi AppTec can spin it off.

That's it.

What you should consider isn't parsing words with those influencers, always under dark clouds—how to make money?? You listen to them and think they make sense, but then what? Did you make money?

Reply: Xiaomi did a great job today, the only green one in the Hang Seng Index//:Reply: Xiaomi is not weak, it's just because everyone knows Xiaomi's performance is good and it has risen in advance.

Xiaomi Group-W (01810) has held positions for 4 years. Just popping in! Hope everyone stays rational forever.

Recommend selling XPeng and buy stocks you think will rise more!

$Alibaba(BABA.US) Unconsciously, it has risen nearly 50% from the bottom that everyone abandoned this year.

$PDD(PDD.US) The recent billion-dollar subsidy campaign is quite aggressive. Such a massive investment is bound to affect short-term profits, but the management openly addressed this during the earnings call. Thinking back, it really makes sense.

$Taiwan Semiconductor(TSM.US) 涨不了一点，咋回事？

$Alibaba(BABA.US) $BABA-W(09988.HK) 今天又发生了什么了？让我跌个明白好吗，这两天连续大跌，一直淡定的我都有点害怕了。这个价位能再捡点货吗？想拉低下成本

很多人在这个时候都选择割掉光伏或医药股，去押注中字头和证券。然而，在任何时候，都应该为自己预留一些仓位，以便中途进行一些调整。盲目地追涨杀跌是不明智的。

对于那些价值被低估的好公司，我们不必急于割掉它们，因为它们的股价已经跌到了底部，只需要花费一些时间去等待，等待时机的到来。数字经济和人工智能等行业，在一两个月内就会有成果，但医药行业需要更长的时间才能收获成果。割掉这些投资也只会流出一些资金，最终我们还是需要寻找那些优质的低位股票。

总的来说，市场是有周期性的，没有只涨不跌、只跌不涨的股票，只是时间的先后顺序不同。我们需要了解市场规律，做出明智的投资决策。

东方甄选公司（股票代码：01797）在 5 月 8 日的销售额中，大号商品销售额为 1753 元，美丽生活商品销售额为 560 元，自营商品销售额为 126 元，图书销售额为 63 元，将进酒销售额为 28 元，总销售额（GMV）为 2530 元。与四月相比，五一假期后的这几天，甄选矩阵号的日均销售额增长了 10%（不包括看世界）。母亲节专场过后，整个月的销售额有望超过四月（包括五一假期开播时长调整对销售额的不利影响）。我们对甄选矩阵号在四月触底回升后继续增长的前景持乐观态度。

今天是美丽生活直播间的里程碑式一天，宝洁的研发中心的溯源试验不仅为品牌带来了 500 万的销售额，更重要的是通过试验让 100 万 + 消费者对宝洁的优质产品留下深刻的印象。品牌效应和产品效果的完美结合给美丽生活带来了新的优势，未来会有更多品牌方选择把优质的产品和机制带到美丽生活。

需要注意的是，此数据来源于第三方且无法保证数据的准确性和完整性，不应作为投资建议。

季檢調整後，金融類股份再遭削權重。其中$HSBC HOLDINGS(00005.HK) 權重由 8.68% 降至 8%；$AIA(01299.HK) 亦由 8.01% 降至 7.61%。至於$TENCENT(00700.HK) 就由 7.13% 升至 8%；$BABA-W(09988.HK) 亦由 6.71% 升至 7.34%，相反$MEITUAN(03690.HK) 卻由 6.85% 下調至 6.56%。