Next week’s major events: Putin’s visit to China, Nvidia’s financial report, Google I/O conference, and China’s economic data.

Next week’s major events: Putin’s visit to China, Nvidia’s financial report, Google I/O conference, and China’s economic data.

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Highlights of Key Financial Events for the Week of May 18 - May 24, All Times in Beijing Time:

The core themes for next week are as follows:

The primary focus is the "Earnings + Conference" dual stress test of AI technology. Nvidia will announce its earnings after the bell on Wednesday, with the market expecting Q1 revenue to reach around $80 billion. The central spotlight is on the market opportunity for Blackwell/Rubin and whether the gross margin can hold at 75%. Meanwhile, the market expects Google I/O 2026 to unveil the Gemini 3 and possibly 4.0 models, as well as AI glasses hardware. Earnings from Baidu, Bilibili, NIO, and NetEase will be released in parallel. AMD Developer Day and Meta's first round of layoffs will also take place.

Next is macro data and diplomacy. Putin will make a state visit to China from May 19 to 20. The APEC Senior Officials Meeting will be held in Shanghai. In addition, China will densely release April's industrial value added, retail sales, and real estate data on Monday; CICC expects the retail sales growth could marginally fall to 1.4%. The Fed's FOMC minutes may strengthen expectations for a "long pause on rate cuts." Japan's CPI inflation is expected to remain strong, and global monetary policy divergence will continue.

Third is industrial developments. Tensions in Iran continue to escalate. Samsung's union is set to launch a large-scale 18-day strike on the 21st, raising supply chain risks. SpaceX Starship V3 could make its maiden flight as early as the 19th, Shenzhou-23 is scheduled for imminent launch, and Tmall 618 officially begins. Multiple events overlap, bringing various market sentiment variables.

Economic Indicators

  • China April 70-City Housing Prices, Real Estate Development Investment, Industrial Value Added, Retail Sales, etc.

On Monday, May 18, China will densely release April data for 70-city housing prices, real estate development investment, industrial value added, and retail sales. At 10 AM that day, the State Council Information Office will hold a press conference on national economic trends.

CICC forecasts that industrial production resiliency is still supported by exports, with year-over-year growth in industrial value added possibly rising slightly to 5.8%. Durable goods consumption growth is expected to slow, with retail sales growth falling marginally from March’s 1.7% to around 1.4%.

Additionally, on May 20, China’s latest LPR will be announced, likely unchanged for twelve consecutive months. One-year LPR is 3.0%, five-year and above LPR is 3.5%.

  • Japan April CPI, Q1 Real GDP

The market expects Japan’s April CPI, released May 22, to show resilient inflation. Overall inflation rate could rise from March’s 1.5% to 1.7% year-over-year. The core indicator (excluding fresh food) is expected to stay at 1.8%. Businesses are passing on higher labor costs and import price increases due to a weaker yen. On May 19, Japan will also announce Q1 real GDP.

  • Fed releases FOMC Meeting Minutes

On May 20, the Fed will release the minutes of the April 28-29 FOMC meeting, which is Powell’s last meeting as Fed Chair.

Bloomberg projects the minutes may show a significant increase in Fed members supporting abandoning an accommodative stance, from “some” in March to “many, most” in April. The Committee believes the direction of the next rate move is uncertain given the dual risks from the Iran conflict. The minutes may reinforce market views that the easing cycle will pause for a long time. Currently, markets are pricing in no Fed action for all of 2026.

Financial Events

  • President Putin to make a state visit to China

According to CCTV News, Foreign Ministry spokesperson announced: President Putin will make a state visit to China from May 19 to 20.

  • Google Conference: Google I/O 2026 Developer Conference

Google I/O 2026 Developer Conference will be held May 19-20 in California, USA. Key market expectations: Google will launch a more powerful Gemini 3 model, possibly Gemini 4.0, and unveil AI glasses hardware.

1. Gemini 3 new model, as the core of I/O, is expected to be launched with more powerful capabilities. This will be a critical showcase of Google’s “AI brain” evolution and a direct competition with OpenAI.

2. AI glasses and other hardware featuring Gemini models are very likely to debut. This marks Google's return to AR and explores new forms combining AI and large models.

Citi notes another key focus is whether AI capabilities can translate into real revenue.

  • AMD AI Developer Day 2026

AMD AI Developer Day 2026 will be held May 19 in Shanghai. CEO Lisa Su will attend.

  • Amazon 2026 Online Annual Shareholders Meeting

The 2026 Virtual Annual Shareholders Meeting will take place at 9:00 AM Pacific Time on May 20 (Beijing Time: May 21 at 00:00).

  • Shenzhou-23 planned launch soon (weeklong event)

According to Xinhua, Shenzhou-23 is scheduled for imminent launch; the spacecraft-rocket combination has been transferred to the launch area.

  • SpaceX Starship V3 maiden flight

SpaceX announces the 12th test mission for Starship will launch as early as Tuesday, May 19, with the launch window opening at 5:30 PM US Central Time (Beijing Time: May 20, 06:30). Starship V3, SpaceX’s next-generation fully reusable super heavy-lift vehicle, is set for its maiden flight.

  • Samsung national union's 18-day large-scale strike begins

Samsung National Union (NSEU) has announced plans to launch an 18-day large-scale strike from May 21 to June 7. Key demands include: abolishing the 50% cap on performance bonuses, seeking a 7% base salary increase, and demanding the allocation of 15% of annual operating profit to employee bonus pool.

Reportedly, Korea’s Prime Minister Kim Min-seok stated in a national address, If Samsung Electronics’ strike causes major losses to the national economy, the government “will have to activate all available means including emergency adjustment powers.” He noted that the labor-management talks scheduled for the 18th are “the last chance to prevent the strike,” and both sides must not underestimate the importance of this negotiation.

Additionally, Samsung and SK Hynix leveraged ETFs may be launched as soon as May 22.

  • APEC Second Senior Officials Meeting opens in Shanghai

According to Xinhua, APEC Second Senior Officials Meeting will be held May 18-19 in Shanghai. The Foreign Ministry states this meeting will review APEC cooperation for the year, prepare for activities and leaders’ meetings in the second half.

Ahead of the senior officials meeting, nearly 40 sessions will be held by APEC committees and working groups from May 11-17, covering trade, investment, economic-technical cooperation, women, telecommunications, food security, and more.

  • G7 Finance Ministers and Central Bank Governors Meeting; Japanese PM Sanae Takai visits Korea

G7 Finance Ministers and Central Bank Governors meeting will be held May 18-19. Also, Japanese PM Sanae Takai will visit Korea from May 19-20.

  • 79th World Health Assembly, 2026 World Drone Congress, 2026 Global AI Tech Conference, AI Computing Power & Digital Energy Forum open
  1. The 79th World Health Assembly will be held May 18-23, 2026 in Geneva, Switzerland.
  2. The 2026 World Drone Congress will convene in Shenzhen Convention Center (Futian) from May 21-23, 2026. Theme: "Low-altitude Economy Flights to the Future," with over 1,200 drone companies from China and abroad attending.
  3. The 2026 Global Artificial Intelligence Technology Conference (GAITC 2026) will launch May 23-24, 2026 in Hangzhou, Zhejiang.
  4. The “4th China Energy Week—AI Computing Power and Digital Energy Forum”, organized by China Energy Week Organizing Committee and the Energy Working Committee of China Information Association, will be held May 20, 2026 in Beijing.
  • Tmall 618 to launch May 21

As of April 28, Tmall 618 promotional schedule is released: From May to June, increased investment in two S+ major promotions—520 Confession Season and 618. Tmall 618 pre-sale launches May 21. Timing: 520 Confession Season from May 13-20; 618 main promo from May 21; first wave pre-sale deposit May 21-26, final payment May 27-June 3. Both S+ promos feature official instant discounts. Throughout the period, Tmall will issue substantial consumer coupons, supplemented by platform coupons, store limited-time red envelopes, Taobao coins, etc.

  • Aliyun: Starting May 20, adjusts domestic SMS service pricing

Aliyun announced, with enhanced domestic SMS compliance regulation and significantly rising service costs, after prudent assessment, it will adjust domestic SMS pricing from May 20, including pay-per-use and general package rates. New prices take effect from May 20. Purchased packages are unaffected; new pricing applies from next renewal cycle.

  • Meta to launch first round of layoffs on May 20

Three sources told Reuters Meta, owned by Zuckerberg, plans to implement its first round of mass layoffs on May 20, with further layoffs to follow. The parent of Facebook and Instagram will cut about 10% of its global workforce, nearly 8,000 employees, in the first round. More layoffs are planned in the second half of the year, though specifics are not set; execs may adjust based on latest advances in AI capabilities. In March, it was reported the company plans to shed 20% or more of its global workforce.

Earnings

  • Nvidia, Baidu, Bilibili, NIO, NetEase, etc.

Next week, Nvidia, Baidu, Bilibili, NIO, NetEase, and others will announce earnings. Market expects Nvidia's Q1 revenue to reach around $80 billion. Deutsche Bank preview: focuses include Blackwell/Rubin's market opportunity, and whether gross margin can stay close to 75%.

  • Nvidia earnings call

Nvidia will release its fiscal 2027 Q1 report after the US market closes May 20 (Wednesday), with a call at 2:00 PM Pacific Time (Beijing Time: May 21, 5:00 AM). Market expects Nvidia Q1 revenue around $80 billion. Deutsche Bank preview: focuses on Blackwell/Rubin’s market opportunity and whether gross margin can hold at 75%.

Next week, Hong Kong-listed companies’ Q1 earnings release schedule:

Risk Warning and DisclaimerThe market involves risks; investment requires caution. This article does not constitute individual investment advice, nor does it consider specific investment objectives, financial status, or needs of any particular user. Users should assess whether any opinion, viewpoint, or conclusion herein fits their specific circumstances. Invest at your own responsibility. ```