0331｜ Dolphin Research Key Focus:

🐬 Macro/Industry

1. China's official manufacturing PMI for March is 50.5, an increase of 0.3 percentage points from last month, with data generally meeting expectations, indicating a continued recovery in manufacturing sentiment.

🐬 Individual Stocks

1. $Midea Group(000333.SZ)$XIAOMI-W(01810.HK)

Midea's 2024 annual report shows ​both revenue and net profit reached ​record highs, ​alongside announcing a dividend plan of 35 yuan per 10 shares (tax-inclusive), ​totaling 26.7 billion yuan. Midea's stock rose 2.12% today ​against the market trend. Notably, Midea sold approximately 902 million yuan worth of Xiaomi shares in 2024, ​fully exiting its stake.

2. $Wolfspeed(WOLF.US)

Last Friday, Wolfspeed's stock price ​plummeted by more than half, closing down ​51%​ and hitting ​a 27-year low. In recent years, Wolfspeed ​has faced slowing demand from automotive customers, ​weighing on profitability. The company appointed a new CEO ​amid deteriorating finances, ​set to take office on May 1. ​Compounded by uncertainty over a debt exchange agreement with creditors and ​potential delays in U.S. CHIPS Act subsidies, the stock ​plunged sharply, ​triggering a trading halt before closing down 51.86%.

🐬 Leading Sectors

Shanghai and Shenzhen Stocks: Tobacco, beverages, human resources and employment services;

Hong Kong Stocks: Furniture/home/renovation materials retailers, entertainment facilities such as stadiums, data processing and outsourcing services;

U.S. Stocks: Water utilities, diversified utilities, gas utilities.

🐬 Tomorrow's Focus

1. China's Caixin manufacturing PMI;

2. U.S. ISM manufacturing PMI.

Risk disclosure and statement for this article: Dolphin Research Disclaimer and General Disclosure