0312 ｜Dolphin Research Focus

🐬 Macro/Industry

1. The U.S. is set to release Feb CPI at 8:30 pm BJT on Wed, a key input for the Fed's rate-cut path.Recent Middle East tensions have lifted oil, adding uncertainty to the print. A hotter read could push back cuts and pressure growth stocks, while an in-line or softer print would be risk-on.

🐬 Single Stocks

1.$Meta Platforms(META.US)

Meta announced the acquisition of AI agent community Moltbook, dubbed the 'Lobster Community' by industry insiders, with the team joining Meta's superintelligence lab to focus on agent interconnectivity and collaboration architectures.By acquiring social and discovery capabilities for agents, Meta is accelerating its push into the AI agent ecosystem. The goal is to secure the next-gen interaction gateway.

2.$LAOPU GOLD(06181.HK)

The company issued a positive profit alert, guiding FY2025 revenue and net profit to more than double YoY, driven by brand expansion and product refreshes.The breakout underscores robust demand for high-end, traditional-craft gold, with brand premium and channel expansion reinforcing each other. Watch risks from gold price volatility, store rollout efficiency, and intensifying competition.

3.$Baidu(BIDU.US)

BIDU's Intelligent Cloud launched DuClaw, a zero-deployment OpenClaw service that requires no environment setup or API key and works by subscription, with first-time users priced at RMB 17.8/month.By slashing barriers, BIDU is broadly popularizing AI agents and cutting costs for both developers and consumers, accelerating OpenClaw ecosystem penetration. Price competition and usability upgrades are set to intensify industry rivalry while boosting adoption by SMEs.

4.$Apple(AAPL.US)

Reports suggest Apple's first foldable, iPhone Fold, is slated for 2H26 with an inward-fold design, high-end chipset, and a titanium frame.A late but heavyweight entry could reshape the premium segment and spark a supply-chain upgrade cycle. It adds pressure on Android OEMs and may move foldables from niche to mainstream, though pricing, capacity, and durability remain key tests.

5. Dolphin Research focus: earnings and call Trans

Nio: 'Saying goodbye to the 'Grim Reaper': Has Nio truly taken control?', 'Nio (4Q25 Trans): Confident in 40%–50% sales growth for 2026'

Oracle: 'Betting it all: Did Oracle's 'AI shot' pay off?', 'Oracle (Trans): AI biz GPM at 32% this quarter'

🐬 Top-Gaining Sectors

A-shares: Diversified chemicals and coal & consumable fuels.Electrical components & equipment also led.

HK: Electrical components & equipment and coal & consumable fuels.Medical product distributors outperformed as well.

U.S.: Drug retailers and silver miners.Coal & consumable fuels were also among leaders.

🐬 Watchlist for Tomorrow

1. Li Auto reports earnings; Dolphin Research will track and publish analysis.Stay tuned for our take.

2. U.S. Jan trade balance (USD bn).Data due.

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