Rumor: BABA to make a big-ticket bid for Pupu Supermarket; Largest-ever IPO debuts in US tonight | Daily News Recap

0612 ｜Dolphin Focus:

🐬 Stocks

1.$BABA-W(09988.HK)

Reports suggest Alibaba plans to bid $1.5bn for fresh-grocery front-warehouse platform Pupu Supermarket. Earlier rumors had Meituan and JD in the mix, but both denied participation. Pupu generates approx. RMB 30bn annual revenue with stable profits, focused on 30-min instant delivery across multiple South China cities. If completed, the deal would add a mature front-warehouse capability to complement Freshippo and Taobao Flash Sales, strengthening its defense vs. Meituan in local groceries; however, the $1.5bn tag looks rich and would weigh on near-term cash flow.

2.$LI AUTO-W(02015.HK)

Li Auto rallied over 6% intraday. The fully refreshed L8 is slated for a Jun. 23 launch. As the brand’s volume flagship SUV, the new L8 upgrades AD stack, cockpit hardware, and energy efficiency, making it the core model to drive 2H sales. The market expects the new L8 to hold the ~RMB 300k price band and offset price-war pressure; leveraging its EREV advantage with no range anxiety, Li Auto remains the leader in mid-to-large SUVs. The surge reflects strong confidence in the new-product cycle. If orders are robust post-launch, both vehicle revenue and GPM should firm up.

3.$POP MART(09992.HK)

The World Cup opened early Jun. 12 Beijing time, with trend IP LABUBU performing in World Cup-themed attire. Pop Mart secured top-tier global event IP exposure. This collaboration is a milestone in global brand marketing, using the event’s traffic to quickly build mainstream awareness in the US and Europe and shed the niche label. Compared with traditional toymakers, Pop Mart’s overseas playbook leans on IP soft power; near term it lifts sentiment, while medium to long term it helps validate global expansion and unlock overseas revenue growth.

4.$Space Exploration Tech(SPCX.US)

SpaceX set its IPO price at $135, raising $75bn at a total valuation of $1.77tn. The stock lists on Nasdaq tonight, marking the largest IPO ever globally. Elon Musk holds high voting power, with orbital AI compute and Starlink launches as twin growth pillars. The lofty valuation reflects optimism on space compute and satellite internet, though near-term capex is heavy and profitability pressured. Post-listing, ample capital should accelerate Starship iterations and orbital AI data center buildouts. It may also lift sentiment across global space-compute and satellite supply chains, improving risk appetite for aerospace and compute-hardware names onshore and offshore.

5.$NVIDIA(NVDA.US)

Nvidia unveiled its Quantum-X silicon photonics CPO switch, already deployed in Lambda’s production-grade AI clusters. It improves power efficiency and sharply cuts power draw and failure points across 10k-GPU clusters. The product directly counters bearish reports on CPO shipments, with Meta, Microsoft, and Oracle moving to deploy as well. As a core solution to reduce cost and boost efficiency in hyperscale AI clusters, Nvidia’s early-scale rollout strengthens its leadership in compute hardware; this also benefits domestic optical module and silicon photonics peers on tech iteration, further solidifying the long-cycle bull case for compute infra.

6.$TENCENT(00700.HK)

Tencent Cloud said its DatabaseClaw AI database O&M tool will start billing on Jun. 19, offering a free trial and a paid enterprise tier. It supports mainstream databases such as TDSQL and MySQL, with intelligent diagnostics, SQL optimization, and automated operations. Following lengthy beta testing for stability, commercialization completes the product loop for Tencent Cloud’s database AI and opens To B AI value-add revenue. Targeting Gov./enterprise and internet clients to cut costs and boost efficiency, it adds a competitive chip vs. Alibaba Cloud and Huawei Cloud; modestly accretive to cloud GPM, it signals steady AI monetization at Tencent Cloud.

7.$JD.com(JD.US)

JD launched the A2P2 autonomous payment protocol, China’s first standardized AI payment framework. It defines six levels (L0–L5) and supports AI auto-settlement under user preset limits and scenario constraints, with full auditability and risk control. The protocol addresses trust pain points in shopping and service payments by AI agents, enabling JD’s full-scope Agent ecosystem. It builds a differentiated AI transaction moat vs. Alibaba and Meituan, whose AI currently stops at order assistance; as a standard, it has industry export potential and opens B2B tech monetization for JD Tech.

🐬 Top Gainers by Sector

A-shares: diversified financials, copper, gold;

HK: diversified metals & mining, packaging, copper;

US: semi materials & equipment, copper, airlines - passenger.

🐬 Next Mon Watchlist

1. US May industrial production MoM; US Jun Empire State Manufacturing Index.

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