Electrical Components and Equipment

CATL HK SDR 30to1

Today’s Key News Recap

BABA

89988

09988

HBBD

03750

HCCD

300750

NFLX

1218 | Dolphin Research Focus: 🐬 Macro/Industry 1) At 21:30 tonight, the U.S. will release the delayed Nov CPI report. The Oct print was canceled due to the prior Gov. shutdown.Consensus sees headline CPI YoY edging up to 3.1% from 3.0%, with core CPI steady at 3.0%. Both are expected at +0.3% MoM, with services vs. goods inflation in focus.An upside surprise would reinforce a hawkish stance and curb expectations for rate cuts next year. Rate-cut odds would likely be marked down...

Alibaba

BABA-WR

BABA-W

Alibaba HK SDR 5to1

CATL

Netflix

BABA's Qwen integrates with Amap; Doubao 1.8 boosts LLM performance | Daily News Recap

OPTI

AVGO

CSCO

NVDA

IONQ

LAES

QBTS

QMCO

QUBT

RGTI

09896

SOXS

SOXL

SOXX

CP00062

01024

RGTIW

MNSO

81024

1120 | Dolphin Research Focus: 🐬 Macro/Industry 1. The U.S. September non-farm payrolls are set to be released tonight. This is the first monthly employment report issued by the U.S. Bureau of Labor Statistics since the release of August data in September, filling the gap in official employment data caused by the previous government shutdown. The market generally expects an increase of 54,000 in non-farm payrolls for September, with the unemployment rate remaining at 4.3%. However, this data is significantly lagging, and the U.S. Bureau of Labor Statistics has clearly stated that it will not release the October non-farm report. 2. According to foreign media reports, &#34;China is considering introducing new real estate stimulus policies,&#34; leading to intraday fluctuations in real estate stocks today...

Optec International, Inc.

Broadcom

Banco Santander SA-Spon

Cisco

NVIDIA

IonQ

SEALSQ

D-Wave Quantum

Quantum

Quantum Computing

Rigetti Computing

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

Semiconductor

KUAISHOU-W

Rigetti Computing - CW27

Miniso

KUAISHOU-WR

US Sep. Payroll to Due Tonight, Property “Rumors” Spark Rally | Daily News Recap

01810

GOOGL

09618

02238

TSLA

INTC

GOOG

003012

605499

HUAWEI

XIACY

81810

89618

601238

HXXD

HJDD

04335

1023 | Dolphin Research Focus: 🐬 Macro/Industry 1. Last night, the National Press and Publication Administration announced the approval information for domestic online games in October 2025, issuing a total of 166 licenses, including 159 for domestic online games and 7 for imported online games. The number of approved licenses in October remains at a high level. 🐬 Individual Stocks 1. $JD.com(JD.US) According to the JD.com application, JD.com, in collaboration with CATL and GAC Group, officially announced the name of the 'National Good Car' model. The new car is named 'Aion UT super', positioned as a pure electric small car...

XIAOMI-W

Alphabet

JD-SW

GAC GROUP

Tesla

Intel

Alphabet - C

Dongpeng Holdings

EASTROC BEVERAGE

Huawei

Xiaomi Corporation

XIAOMI-WR

JD-SWR

JD.com

GAC Group

Xiaomi HK SDR 2to1

JD HK SDR 10to1

INTEL-T

JD's 'National Good Car' auctioned at a sky-high price; Alibaba's Quark AI glasses near pre-sale｜Today's Important News Recap

09626

AMZN

00941

BILI

600941

80941

AMZU

1021 ｜Dolphin Research Key Focus: 🐬 Macro/Industry 1. U.S. President Trump and Australian Prime Minister Albanese signed a critical minerals agreement at the White House. The core of the agreement includes each party investing $1 billion within six months to support mining and processing projects, establishing a price floor mechanism, and introducing indirect participation from Japan. The focus is on resources such as rare earths, gallium, and graphite, aiming to counter China's influence in the rare metals sector. This move is a key step for the West in restructuring the resource supply chain, attempting to break China's dominant advantage in the smelting and processing stages. However, Australia's shortcomings in processing technology and high costs are difficult to resolve in the short term...

BILIBILI-W

Amazon

CHINA MOBILE

Coca Cola

Bilibili

China Mobile

CHINA MOBILE-R

Direxion Daily AMZN Bull 2X Shares

Rydx S&P500 Pure Grw

Game Boosts Bilibili's Surge; Amazon AWS Services Experience Major Outage | Today's Important News Recap

Financial Analysis

Conference Minutes

00386

600028

09863

09866

09868

02015

01211

XPEV

81211

HYDD

002594

BYDDF

BYDDY

The following are the Minutes of the 3Q25 earnings call of CATL organized by Dolphin Research. For the earnings interpretation, please refer to &#34;Full Capacity Expansion! Has the King of Ning Finally Made It?&#34; 1. Review of Core Financial Information 2. Detailed Content of the Earnings Call 2.1 Management Statements 1. Domestic Capacity: Jining, Shandong (only Jining base...)

SINOPEC CORP

Pros

Sinopec Corp.

LEAPMOTOR

NIO-SW

XPENG-W

LI AUTO-W

ZEEKR Intelligent Tech

BYD COMPANY

NIO Inc. USD OV

XPeng

Li Auto

BYD COMPANY-R

BYD HK SDR 10to1

BYD Company Limited

BYD Company

CATL (Minutes): Demand is strong, profitability does not rely on price increases

On the evening of October 20, 2025, $CATL(300750.SZ) announced its third-quarter results for 2025. Here are the key points: 1) Did the revenue side significantly miss expectations? In the third quarter, $CATL(03750.HK) reported operating revenue of 104.2 billion, while the market consensus on Bloomberg was over 120 billion, with actual revenue falling more than 10% below market expectations. However, according to Dolphin Research's calculations, one reason could be that Ningde's products did not increase in price along with the rise in raw materials such as lithium carbonate; another reason could be that the proportion of energy storage in shipments has increased...

Expanding production capacity comprehensively! Has Ning Wang finally made it?

CATL Quick Interpretation: The third quarter appears very contradictory, evidently because the company does not provide revenue guidance but does guide profit ranges. As a result, third-quarter revenue fell far short of market expectations, while profits were basically in line with expectations.From a revenue perspective, this is not the first time the company has fallen short of market expectations. The market's expectations were based on the increase in prices of battery raw materials such as lithium carbonate since July, which should have driven up the unit price of CATL's shipments. Additionally, the domestic power battery shipment volume saw a year-on-year increase of 36% in the third quarter, and the market expected CATL to keep up with this growth.However, in reality, after CATL reduced prices to boost shipments in the second quarter, in the third quarter, amidst an industry inflation trend, it maintained prices. As a result, although total revenue was insufficient, the profit per watt was maintained, and total profits were preserved.Given the current market, it is actually more favorable for CATL to maintain its market share. From this perspective, these results are not a negative surprise but rather an expected outcome.However, there are several positive signals for the industry and CATL itself:a. The price of lithium carbonate has returned to normal, and the company's asset impairment remains low relative to revenue;b. The company's contract impairments are also decreasing, subtly indicating that the industry's supply-side clearing process is nearing completion;c. Inventory is reaching new highs. Considering that the company's inventory structure is mainly composed of in-transit and finished products, and the current capacity utilization rate is relatively high, the revenue certainty implied by the inventory is high.In other words, although third-quarter revenue was not as high as expected, the positive operational signals, coupled with the company's increased production guidance for 2026 to 1TWh, are encouraging.The overall industry trend is improving, and as the industry leader, CATL naturally benefits from the dividends. $CATL(300750.SZ)$CATL(03750.HK)

002415

NVDL

07788

07388

NVDY

NVDD

NVDX

NVDQ

PHUN

ABTC

DJTWW

1020 ｜Dolphin Research Key Focus: 🐬 Macro/Industry 1. In the latest interview, Trump continued to release signals of easing and hinted that the door is still open. Additionally, according to media reports, the Trump administration is quietly relaxing several tariff policies. This statement temporarily alleviated market concerns about the escalation of trade friction and is expected to boost risk asset sentiment. However, caution is needed regarding the repetitiveness of his strategy, and subsequent developments need to be observed for detailed implementation and continuity of execution. 2. Data released by the National Bureau of Statistics shows that the domestic gross domestic product for the first three quarters of 2025 was 101.5 trillion yuan, calculated at constant prices...

Taiwan Semiconductor

HIKVISION

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Phunware

Trump Media & Tech

American Bitcoin

Trump Media & Tech - CW28

Nvidia's Blackwell chip is about to be mass-produced in the United States; tariff easing signals continue to be released | Today's important news review

01880

SCHW

00992

601888

80992

LNVGY

SCHW-D

MS-A

MS-E

MS-F

MS-I

MS-K

MS-L

MS-O

MS-P

MS-Q

SCHW-J

1017 | Dolphin Research Focus: 🐬 Macro/Industry 1. Shares of two U.S. regional banks plummeted due to loan fraud and bad debt issues, with the regional bank index posting its worst performance since April. Risk aversion sentiment pushed up U.S. Treasury and gold prices. The event highlights potential risks in the credit market, and concerns about 'more risk points' will suppress sentiment in financial stocks, while reinforcing expectations for the Federal Reserve to maintain an accommodative stance. 🐬 Individual Stocks 1. $Micron Tech(MU.US) Micron Technology's U.S. stock fell in after-hours trading. According to reports, Micron will stop selling server chips to Chinese data centers...

Morgan Stanley

Micron Tech

CTG DUTY-FREE

Charles Schwab

Pro Ultr Silver

iShares Silver Tr

Micron to Stop Selling Server Chips to Chinese Data Centers; Meta Plans to Raise $30 Billion to Build Data Centers | Today's Important News Recap