China-concept stocks' earnings reports + Core PCE data arrive! What to invest in May?
【Contest】Xiaomi Group, PDD Holdings, Kuaishou, XPeng, and Li Auto to report earnings in quick succession! Marvell Technology and Salesforce to follow—Weekly Earnings Recap (5/25–5/29)
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Hello fellow investors~
Over the past few trading sessions, global market sentiment has turned cautious overall.Although the AI and semiconductor sectors remain structural bright spots,tech stocks that had previously rallied significantly came under noticeable pressure amid stickier-than-expected inflation, rising U.S. Treasury yields, and ongoing geopolitical tensions.Investor confidence in the near-term market outlook has weakened somewhat, leading to a choppy market trend.
Although the AI and semiconductor sectors remain structural bright spots,tech stocks that had previously rallied significantly came under noticeable pressure amid stickier-than-expected inflation, rising U.S. Treasury yields, and ongoing geopolitical tensions.Investor confidence in the near-term market outlook has weakened somewhat, leading to a choppy market trend.Amid this macro volatility, NVIDIA’s earnings this week—dubbed 'the village’s last hope'—amplified this ambivalent sentiment.In the early hours of May 21,$NVIDIA (NVDA.US)$NVIDIA delivered an impeccable report: both revenue and profit hit record highs, it provided a staggering $91 billion revenue guidance for next quarter, and announced a massive $80 billion share buyback.
In the early hours of May 21,$NVIDIA (NVDA.US)$NVIDIA delivered an impeccable report: both revenue and profit hit record highs, it provided a staggering $91 billion revenue guidance for next quarter, and announced a massive $80 billion share buyback.However, the stock price dipped slightly on the first trading day after earnings.This is because the market has grown accustomed to pricing NVIDIA’s future based on 'beating expectations,' and any imperfection is magnified in interpretation.But as CEO Jensen Huang stated during the earnings call,demand is growing exponentially, Vera Rubin supercomputing chips will begin shipping in the second half of fiscal year 2027 with tight supply expected throughout their entire lifecycle, and NVIDIA’s CPUs have officially entered markets it had never previously addressed.This AI computing leader is transforming from a chipmaker into a platform-level infrastructure player, and institutional investors broadly remain supportive—CLSA reiterated its 'high conviction outperform' rating on the stock.The long-term narrative of the AI spending cycle remains intact despite short-term volatility.
But as CEO Jensen Huang stated during the earnings call,demand is growing exponentially, Vera Rubin supercomputing chips will begin shipping in the second half of fiscal year 2027 with tight supply expected throughout their entire lifecycle, and NVIDIA’s CPUs have officially entered markets it had never previously addressed.This AI computing leader is transforming from a chipmaker into a platform-level infrastructure player, and institutional investors broadly remain supportive—CLSA reiterated its 'high conviction outperform' rating on the stock.The long-term narrative of the AI spending cycle remains intact despite short-term volatility.Just as NVIDIA’s blockbuster earnings kicked off the peak of this earnings season, attention has quietly shifted to Q1 results from major Chinese tech giants.Next week will bring another wave of密集 earnings releases, with particular focus on U.S.-listed Chinese companies.First-quarter results from Xiaomi Group, PDD Holdings, Kuaishou, XPeng, and Li Auto will be released in quick succession, as the AI applications, e-commerce, short-video, and new energy vehicle sectors enter a critical period of earnings validation.👇📍 May 26｜$XIAOMI-W (01810.HK)$
The market expects Xiaomi Group to face short-term pain in Q1. Due to rising memory chip prices and its proactive reduction of low-end smartphone shipments, Q1 revenue is projected to decline by approximately 9.41% year-over-year to RMB 100.826 billion, with expected earnings per share of RMB 0.175, down 58.36% year-over-year. Smartphone shipments are forecast to drop 19% year-over-year. However, on the flip side, thanks to aggressive inventory control—akin to 'cutting off a limb to save the body'—its smartphone gross margin is expected to hold steady at an above-consensus 9.7%. Of even greater anticipation is its automotive business: orders for the new SU7 model are surging, with 60,000 units locked in as of April 23. Can it become the key growth driver in Q2?
PDD Holdings and Kuaishou represent today’s most fiercely competitive internet segments: short video and e-commerce.
The new energy vehicle (NEV) sector is now entering a deep phase of profitability divergence.This week$NIO Inc (NIO.US)$One company has already reported early: new vehicle deliveries surged 98%, and vehicle gross margin hit a four-year high, setting an encouraging tone for the NEV earnings season.
This week$NIO Inc (NIO.US)$One company has already reported early: new vehicle deliveries surged 98%, and vehicle gross margin hit a four-year high, setting an encouraging tone for the NEV earnings season.Li Auto and XPeng will both report earnings on May 28, against a market backdrop of ongoing automotive price wars and strong consumer hesitation.Key points to watch include the extent to which Li Auto's 'volume-for-price' strategy for its BEV models erodes gross margins, and whether XPeng can sustain profitability after reporting its first-ever quarterly profit.Additionally, both companies’ guidance on future deliveries will directly influence market revisions to Q2 and full-year earnings forecasts.
![[Gift]This article is suitable for commenting & liking.[Heart]Participate in our earnings event and win points! Hello fellow investors~[Happy] Over the past few trading sessions, global market sentiment has turned cautious overall.[Thinking Face]Although the AI and semiconductor sectors remain structural bright spots,tech stocks that had previously rallied significantly came under noticeable pressure amid stickier-than-expected inflation, rising U.S. Treasury yields, and ongoing geopolitical tensions.Investor confidence in the near-term market outlook has weakened somewhat, leading to a choppy market trend. Amid this macro volatility, NVIDIA’s earnings this week—dubbed 'the village’s last hope'—amplified this ambivalent sentiment.[Hey]In the early hours of May 21,$NVIDIA (NVDA.US)$NVIDIA delivered an impeccable report: both revenue and profit hit record highs, it provided a staggering $91 billion revenue guidance for next quarter, and announced a massive $80 billion share buyback.[Awesome] However, the stock price dipped slightly on the first trading day after earnings.This is because the market has grown accustomed to pricing NVIDIA’s future based on 'beating expectations,' and any imperfection is magnified in interpretation.[Smart]But as CEO Jensen Huang stated during the earnings call,demand is growing exponentially, Vera Rubin supercomputing chips will begin shipping in the second half of fiscal year 2027 with tight supply expected throughout their entire lifecycle, and NVIDIA’s CPUs have officially entered markets it had never previously addressed.This AI computing power leader is transforming from a chipmaker into a platform-level infrastructure player, and institutional support remains widespread, with CLSA reiterating its...](https://nnqimage.futunn.com/sns_client_feed/999982/20260522/web-1779420981559-d1DshGlKSs.jpeg/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Meanwhile, on the Hong Kong and U.S. markets, Kingsoft Cloud, Pony AI, Miniso, as well as Salesforce, Marvell Technology, and Costco each have their own stories to tell.
As a key player in Hong Kong’s cloud computing sector,$Kingsoft Cloud (KC.US)$its earnings will reflect the overall sentiment in the cloud infrastructure segment, particularly amid surging AI computing demand. The market is closely watching whether GPU computing service orders from large AI model companies can translate into tangible revenue growth.
At this critical juncture when the Robotaxi industry shifts focus from 'whether it can operate' to 'whether it can turn a profit,'$Pony AI (PONY.US)$the sustainability of per-vehicle profitability in Guangzhou and Shenzhen, and the execution of its global expansion plan targeting 3,000 vehicles, will be the key highlights of this earnings report.
$MNSO (09896.HK)$has already issued a positive profit pre-announcement,driven not only by strong growth in its core IP ecosystem (such as its proprietary IP YOYO), but also by its early investment in a domestic AI large-model unicorn$MINIMAX-W (00100.HK)$early-stage investment inis expected to generate fair value gains exceeding RMB 870 million in Q1, directly offsetting the losses incurred from its investment in Yonghui last year.
On the US equity front, NVIDIA's better-than-expected earnings have confirmed that high demand for AI computing power continues, but market expectations for the AI supply chain are now shifting downstream.$Marvell Technology (MRVL.US)$(AI networking + custom chips) and$Salesforce (CRM.US)$(Agentic AI commercialization) results will address two key questions:Can AI investment momentum continue to flow into the network infrastructure layer? And can downstream applications—represented by AI agents—translate into tangible revenue growth for SaaS companies?Let’s wait and see~
Moreover, against a backdrop of rising macroeconomic uncertainty and volatile inflation data,$Costco (COST.US)$how will membership fee growth, same-store sales, and gross margin trends perform?
Moreover, against a backdrop of rising macroeconomic uncertainty and volatile inflation data,$Costco (COST.US)$how will membership fee growth, same-store sales, and gross margin trends perform?
Among the companies about to report earnings, which ones are your top focuses?Stay close@富途業績Sir, pay attention@Live from the Earnings Call FrontlineThis provides direct access to the live earnings call, helping you seize opportunities and boost your investment!
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A lineup of star stocks is set to report earnings! How can you avoid missing the highlights?Click to learn more about corporate earnings announcement schedules:More Earnings Calendar
Click to learn more about corporate earnings announcement schedules:More Earnings Calendar[Interactive Giveaway]What do fellow investors think about how the companies releasing earnings next week will perform? Join the prediction and win 66 points!
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Xiaomi, PDD Holdings, Kuaishou, XPeng, and Li Auto—all coming next week!Whose earnings are you rooting for this time? Fellow investors, feel free to share your thoughts in the comments below~‘Earnings Express’ - AI insights into key points; build an options strategy in three steps!![[Gift]This article is suitable for commenting & liking.[Heart]Participate in our earnings event and win points! Hello fellow investors~[Happy] Over the past few trading sessions, global market sentiment has turned cautious overall.[Thinking Face]Although the AI and semiconductor sectors remain structural bright spots,tech stocks that had previously rallied significantly came under noticeable pressure amid stickier-than-expected inflation, rising U.S. Treasury yields, and ongoing geopolitical tensions.Investor confidence in the near-term market outlook has weakened somewhat, leading to a choppy market trend. Amid this macro volatility, NVIDIA’s earnings this week—dubbed 'the village’s last hope'—amplified this ambivalent sentiment.[Hey]In the early hours of May 21,$NVIDIA (NVDA.US)$NVIDIA delivered an impeccable report: both revenue and profit hit record highs, it provided a staggering $91 billion revenue guidance for next quarter, and announced a massive $80 billion share buyback.[Awesome] However, the stock price dipped slightly on the first trading day after earnings.This is because the market has grown accustomed to pricing NVIDIA’s future based on 'beating expectations,' and any imperfection is magnified in interpretation.[Smart]But as CEO Jensen Huang stated during the earnings call,demand is growing exponentially, Vera Rubin supercomputing chips will begin shipping in the second half of fiscal year 2027 with tight supply expected throughout their entire lifecycle, and NVIDIA’s CPUs have officially entered markets it had never previously addressed.This AI computing power leader is transforming from a chipmaker into a platform-level infrastructure player, and institutional support remains widespread, with CLSA reiterating its...](https://nnqimage.futunn.com/sns_client_feed/999982/20260522/web-1779422396217-EEg62M7nyz.png/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Futubull AI Instant answers to resolve doubts, smart stock selection to lock in potential uptrends, portfolio analysis to seize opportunities and avoid risks!![[Gift]This article is suitable for commenting & liking.[Heart]Participate in our earnings event and win points! Hello fellow investors~[Happy] Over the past few trading sessions, global market sentiment has turned cautious overall.[Thinking Face]Although the AI and semiconductor sectors remain structural bright spots,tech stocks that had previously rallied significantly came under noticeable pressure amid stickier-than-expected inflation, rising U.S. Treasury yields, and ongoing geopolitical tensions.Investor confidence in the near-term market outlook has weakened somewhat, leading to a choppy market trend. Amid this macro volatility, NVIDIA’s earnings this week—dubbed 'the village’s last hope'—amplified this ambivalent sentiment.[Hey]In the early hours of May 21,$NVIDIA (NVDA.US)$NVIDIA delivered an impeccable report: both revenue and profit hit record highs, it provided a staggering $91 billion revenue guidance for next quarter, and announced a massive $80 billion share buyback.[Awesome] However, the stock price dipped slightly on the first trading day after earnings.This is because the market has grown accustomed to pricing NVIDIA’s future based on 'beating expectations,' and any imperfection is magnified in interpretation.[Smart]But as CEO Jensen Huang stated during the earnings call,demand is growing exponentially, Vera Rubin supercomputing chips will begin shipping in the second half of fiscal year 2027 with tight supply expected throughout their entire lifecycle, and NVIDIA’s CPUs have officially entered markets it had never previously addressed.This AI computing power leader is transforming from a chipmaker into a platform-level infrastructure player, and institutional support remains widespread, with CLSA reiterating its...](https://nnqimage.futunn.com/sns_client_feed/999982/20260522/web-1779422412117-jngVpetO4J.jpeg/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
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