The market is in distress; Xiaomi Rises Courageously｜Today's Important News Review

1121 | Dolphin Research Focus:

🐬 Macro/Industry

1. Last night, the non-farm payroll data was released, showing a "split" scenario. On one hand, the number of jobs exceeded expectations, while on the other hand, the unemployment rate unexpectedly rose to a four-year high, further dampening market expectations for a Federal Reserve rate cut.

The VIX fear index surged during the day. After Nvidia's earnings report, its stock quickly retreated last night, triggering a concentrated sell-off in tech stocks, with Chinese concept stocks simultaneously declining. This sentiment quickly spread to the Asia-Pacific market, with Hong Kong and A-shares all showing weakness today.

🐬 Individual Stocks

1.$XPeng(XPEV.US)

XPeng officially launched its first "super range extender" model, the XPeng X9 Super Range Extender, in Guangzhou. The new car is positioned as the "world's longest-range large seven-seater," focusing on family travel scenarios and filling the brand's gap in the extended-range large seven-seater market. This move is a key layout for XPeng to enter the popular extended-range track and expand its product matrix. "Long range + large seven-seater" precisely matches market demand and is expected to drive sales growth.

2.$XIAOMI-W(01810.HK)

Last night, Xiaomi announced that it repurchased 13.5 million Class B shares at HKD 37.38-38.1 per share, spending HKD 508 million. This repurchase is its 13th repurchase of the year, with a cumulative repurchase amount exceeding HKD 2 billion. The background is that Xiaomi's stock price has fallen more than 30% from its high point this year. Although the third-quarter performance was impressive, factors such as mobile phone cost pressures and challenges in the automotive business have continued to weigh on the stock price. This repurchase is a response to the current undervaluation of the stock price, which can temporarily alleviate selling pressure and boost market confidence. Xiaomi achieved a contrarian rise today.

3.$Alphabet(GOOGL.US)

Google announced the upgrade of its popular image generation and editing model based on Gemini, launching the new model Nano Banana Pro, which offers "studio-level" precision control, supports 4K resolution, and precise rendering of multilingual text. It can control shooting angles, colors, and other parameters and has been integrated into mainstream design tools. The model breaks through the text rendering pain points, promoting the penetration of AI image tools into professional fields and strengthening Google's competitiveness in generative AI.

4. Dolphin Research Focus on Earnings Reports and Conference Call Minutes

NetEase: "NetEase: The Last Kneel Before the 'Pig Cycle'?", "NetEase (Minutes): Resources Focused on High-Confidence Products"

Vipshop: "Vipshop: After Finally Bottoming Out and Warming Up, Is There More to Look Forward To?", "Vipshop (Minutes): Expected 4Q User Growth Better Than 3Q"

🐬 Leading Sectors

Shanghai and Shenzhen: Residential construction companies, consumer goods retailers, real estate services;

Hong Kong stocks: Industrial gases, oil and gas refining and sales, commercial printing;

U.S. stocks: Consumer goods retailers, gas utilities, real estate development.

🐬 Focus Next Monday

1. None.

Risk Disclosure and Statement of this Article: Dolphin Research Disclaimer and General Disclosure