Morgan Stanley's latest viewpoint! Will the Hong Kong stock market perform better than the A-share market?

If tariffs are reduced, the offshore market may outperform the onshore market, benefiting the Internet/Technology, Consumer (relief from deflation), and Medical (easing of China-US relations) sectors.

Zhitong Finance22:32 ET

China International Capital Corporation: The resilience of China's Assets is highlighted, and the main lines of dividends, domestic substitutes, and consumer demand will be relatively dominant.

Since the beginning of the year, there have been two major variables affecting the market: one is DeepSeek rewriting the Technology narrative, and the other is the frequent changes in tariff policies after Trump's inauguration. The former has become a catalyst for the spring market in A-shares, while the latter has led to fluctuations in the market in April. Recently, stabilizing funds have entered the market, and tariff expectations have fluctuated, leading to market stabilization and recovery.

Zhitong Finance19:50 ET

Hualan Biological Engineering, Inc.: Q1 revenue and net profit both increased, with last year's plasma collection reaching a historic high | Interpretations

① In Q1, the batch release volume of Hualan Biological Engineering, Inc.'s core blood products remains among the industry's top, and last year the company set a record high in plasma collection; ② In the vaccine business, due to seasonal factors, sales of Hualan's flu vaccine have not yet achieved large-scale growth, resulting in revenue pressure; ③ Since last year, the competition among domestic plasma stations has intensified.

cls.cnApr 27 11:40 ET

Gree Electric Appliances, Inc. of Zhuhai's net income increased by 11% last year, and there are subtle changes in the income composition classification that has been used for three years.| Interpretations

① Gree Electric Appliances, Inc. of Zhuhai's net income attributable to shareholders in 2024 grew by only about 11% compared to the previous year. The weakness in growth of traditional home appliances is an undeniable fact, and finding new performance increments is one of the most important issues facing these manufacturers. ② In the 2024 annual report, Gree Electric Appliances, Inc. of Zhuhai adjusted the revenue composition that had been used for many years, which may reveal the psychological changes of Gree Electric Appliances, Inc. of Zhuhai when facing diversification issues.

cls.cnApr 27 11:37 ET

Anhui Gujing Distillery: Last year's revenue and total profit did not meet the targets; this year plans for "steady growth" in operations | Interpretations

① Anhui Gujing Distillery was unable to meet its operational targets set last year. Amid weak consumer demand, the company unusually did not propose specific revenue targets for this year, only stating intentions for "steady growth"; ② Last year, the company's core product, the vintage raw liquor, continued to show an increase in both volume and price, but the growth rate of sales and ton price slowed down; ③ The dividend payout ratio for Anhui Gujing Distillery in 2024 has increased by 6 percentage points to 57.49%.

cls.cnApr 27 05:49 ET

Contemporary Amperex Technology and other Battery manufacturers compete with new products as the supercharging and fast charging storm approaches | New forces at the auto show.

① Battery manufacturers took center stage at the auto show, with Contemporary Amperex Technology, Sunwoda Electronic, and Eve Energy Co., Ltd. competing with new products at the Shanghai Auto Show; ② A storm of ultra-fast charging has arrived, with megawatt fast-charging products from companies like BYD, Huawei, and ZEEKR showcased at the auto show.

cls.cnApr 27 04:32 ET