Application Software

C3.AI

Alibaba

LEADING IDEAL

HUAWEI

02015

GOOG

GOOGL

BYTED

01810

09988

AMZN

81810

XIACY

BABA

89988

GGLS

GGLL

KBAB

BABO

BABX

HXXD

HBBD

AI glasses are regarded as the 'next-generation personal mobile gateway' and are also the most likely mobile terminal to challenge smartphones.

Huawei

LI AUTO-W

Meta Platforms

Alphabet - C

Alphabet

ByteDance

XIAOMI-W

BABA-W

Amazon

Li Auto

XIAOMI-WR

Xiaomi Corporation

BABA-WR

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

KraneShares 2x Long BABA Daily ETF

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

Xiaomi HK SDR 2to1

Alibaba HK SDR 5to1

Alibaba, ByteDance, and Li Auto are rushing into the market; are AI glasses becoming the 'next big thing'? (Minutes)

Today’s Key News Recap

03690

ASML

DIDIY

MPNGY

83690

HMTD

MS-A

MS-E

MS-F

MS-I

MS-K

MS-L

MS-O

MS-P

MS-Q

1127 | Dolphin Research Focus: 🐬 Macro/Industry 1. The Office of the United States Trade Representative announced that the exemption of certain tariffs on Chinese goods, established under Section 301 due to issues related to technology transfer and intellectual property, will be extended until November 10, 2026. The original exemption was set to expire on November 29. In the short term, this can provide a 'safe period' for Chinese export enterprises in terms of orders and profits, and also reduce costs for American importers and consumers. However, the overall tariff framework remains unchanged, and the competition between China and the U.S. in high-tech fields will continue...

MEITUAN

DiDi

Taiwan Semiconductor

Meituan

MEITUAN-WR

Pro Ultr Silver

iShares Silver Tr

Meituan HK SDR 5to1

Morgan Stanley

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

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

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

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

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

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

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

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

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

Alibaba AI Glasses Enter the Market, Meituan Financial Report to be Released Tomorrow | Today's Important News Recap

DELL

Conference Minutes

MSFT

MSFL

MSFO

MSFD

MSFU

MSFX

MSFY

COMP

The following are the minutes of Dell's FY2026 Q3 earnings call organized by Dolphin Research. For earnings interpretation, please refer to &#34;Dell DELL: Storage Price Hike Adds Pressure? AI Guidance Provides Support Again.&#34; 1. $Dell Tech(DELL.US) Key Financial Information Review 1. Cash Flow and Capital Return a. Cash Flow: Operating cash flow of $1.2 billion, with an ending cash and investment balance of $11.3 billion (an increase of $1.6 billion quarter-over-quarter). b. Shareholder Return: $1.6 billion returned this quarter (repurchase of 8.9 million shares + dividend distribution)...

Microsoft

Micron Tech

Dell Tech

GraniteShares 2x Long MSFT Daily ETF

YieldMax MSFT Option Income Strategy ETF

Direxion Daily MSFT Bear 1x Shares

Direxion Daily MSFT Bull 2X Shares

T-Rex 2X Long Microsoft Daily Target ETF

Kurv Yield Premium Strategy Microsoft MSFT ETF

Compass

Dell (Minutes): The company's value lies in the overall solutions at level L11 and above.

09863

02525

HSAI

OpenAI

09626

NVDA

STECH

07552

03067

03032

07226

03033

03088

159742

0HSCI

09866

513130

BILI

1124 | Dolphin Research Focus: 🐬 Macro/Industry 1. On November 21st, Hang Seng Indexes Company announced the results of its quarterly review, with the changes to be implemented after the market closes on December 5, 2025, and effective from December 8, 2025. Among the changes, Dolphin Research is particularly interested in Leapmotor being included in the Hang Seng TECH Index, and Hesai Technology being added to the Hang Seng Composite Index. Inclusion in the indices will bring passive capital inflows to both companies, enhancing stock liquidity and market attention. Leapmotor rose nearly 6% today, while Hesai increased by over 8%...

LEAPMOTOR

HESAI-W

Hesai

BILIBILI-W

NVIDIA

Hang Seng TECH Index

XI2CSOPHSTECH

ISHARESHSTECH

HSTECH ETF

XL2CSOPHSTECH

CSOP HS TECH

CAM HS TECH

Hang Seng TECH ETF I

Hang Seng Composite Index

NIO-SW

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Bilibili

NIO Inc. USD OV

Ali Qianwen surpasses ten million downloads; Hang Seng Index adjusts, Leapmotor and Hesai surge｜Today's Important News Recap

Baidu

Financial Analysis

K3SD

09888

00700

09868

TSLA

01211

BIDU

89888

TCTZF

TCEHY

80700

HBUD

HTCD

XPEV

81211

HYDD

002594

BYDDF

BYDDY

$Baidu(BIDU.US) released its Q3 results after Hong Kong market hours on 18 November 2025. Overall, the performance met expectations. The detailed disclosure of AI revenue demonstrates the company's eagerness to shed its traditional label and fully embrace its new AI narrative. Specifically (focusing solely on Baidu's core operations): 1. AI revenue contribution reaches 40%: During Q3, revenue directly attributable to AI activities amounted to nearly RMB10 billion, constituting 40% of total revenue...

BIDU ADR US

BIDU-SW

Agora

TENCENT

XPENG-W

ZEEKR Intelligent Tech

Tesla

BYD COMPANY

BIDU-SWR

Tencent Holdings Limited

Tencent

TENCENT-R

Baidu HK SDR 10to1

Tencent HK SDR 10to1

XPeng

BYD COMPANY-R

BYD HK SDR 10to1

BYD Company Limited

BYD Company

Can the new Baidu, aspiring to AI, successfully shed its old advertising label?

01698

00772

LOVE

LOTWW

The following are the minutes of the FY25Q3 earnings call for $TENCENT(00700.HK) compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article &#34;Tencent: Not Playing Heartbeat with Meta, Just Wanting Steady Happiness.&#34; 1. Review of Core Financial Information 1. Capital Expenditure: Operating capital expenditure: RMB 12 billion, down 18% year-on-year, mainly due to changes in the supply chain. Non-operating capital expenditure: RMB 1 billion, down 59% year-on-year. 2. Free Cash Flow: RMB 58.5 billion, roughly flat compared to the same period last year (growth in operating cash flow was offset by other factors)...

TME-SW

Lotus Tech

CHINA LIT

Tencent Music

Lovesac

LOTUS TECHNOLOGY INC C/WTS 22/02/2029 (TO PUR COM)

Tencent (Minutes): Emphasizes AI, but Lowers Full-Year Capex Guidance

Duolingo

DUOL

LKNCY

600130

BIRD

$Duolingo(DUOL.US) released its third-quarter 2025 earnings after the market closed on November 5th, Eastern Time. Due to fourth-quarter guidance falling short of expectations (implying a significant slowdown in growth), the company simultaneously stated its intention to make new investments and product changes from a long-term perspective. The core focus shifted from more direct monetization and profit-related metrics (such as paid rate and EBITDA margin improvement pace) to user growth across the ecosystem (MAU, DAU), leading to market uncertainty regarding future monetization performance growth. Following Duolingo's earnings release, the stock price fell by over 20%...

Duolingo: Weak Guidance + Uncertainty of Short-term Changes, Green Bird Falls from High Valuation Pedestal