0113 ｜Key Watch by Dolphin Research:

🐬 Single Names

1、$PDD(PDD.US)

PDD quietly began an in‑app pilot for its 'Billion‑Yuan Supermarket'. The initiative will likely target value grocery and mass‑market categories, extending its heavy‑subsidy play, covering essentials such as general merchandise and fresh food, and may leverage local supply chains to test instant retail; access is limited and no go‑live date was disclosed.

This is another push in a saturated e‑com market, using subsidies to enter a high‑frequency grocery track. The move should drive deeper user penetration and stickiness.

2、$Meta Platforms(META.US)

Mark Zuckerberg announced the launch of a top‑priority initiative, 'Meta Compute', integrating VR/AR hardware, AI foundation models, and cloud infrastructure to build the compute and tech stack for the metaverse and next‑gen AI apps. Implementation details have not been disclosed.

The project signals a shift from a single metaverse bet to a combined compute + metaverse + AI strategy, aiming to bridge hardware, software, and compute barriers. Competition from Microsoft and Google Cloud remains intense.

3、$Apple(AAPL.US) $Alphabet(GOOGL.US)

Apple announced a partnership with Google, which will support Apple’s AI features, highlighted by a major Siri upgrade later this year to improve natural language understanding and multi‑tasking, while enabling more on‑device AI. Leveraging Google’s mature AI capabilities helps address Apple’s gaps and could materially improve Siri’s UX.

That said, data sharing and privacy concerns behind the tie‑up may spark debate.

🐬 Top Gainers by Sector

A‑shares: Healthcare Services, Life Sciences Tools & Services, Healthcare IT Services;

Hong Kong: Life Sciences Tools & Services, Data Processing & Outsourced Services, IT Consulting;

U.S.: Silver, Precious Metals & Mining, Textiles.

🐬 On Radar Tomorrow

1、China trade balance; China trade balance (USD terms);

2、U.S. PPI m/m, U.S. PPI y/y, U.S. retail sales m/m, U.S. current account, U.S. business inventories m/m.

Risk disclosure and disclaimer: Dolphin Research Disclaimer and General Disclosure