Latest

``` The pressure in the private credit market is evolving from a redemption wave into a deeper crisis of trust. As several major asset management institutions successively restricted withdrawals, regulators have begun to openly question whether the rating system underpinning the operation of this market had fundamental flaws from the very

``` SMIC announced that its sales revenue for the full year 2025 reached $9.327 billion, up 16.2% year-on-year; capacity utilization increased to 93.5%, up 8 percentage points year-on-year; despite a significant increase in depreciation, gross margin rose to 21%, up 3 percentage points year-on-year. More updates to follow.

``` As Temu approaches its profitability inflection point and domestic revenue growth reaccelerates, Pinduoduo has entered the starting point of a new growth phase. According to Chasewind Trading Desk, Goldman Sachs released its Q4 2025 earnings review report for Pinduoduo Holdings (PDD), maintaining a Buy rating and a 12-month price target

``` Beijing AI startup Moonshot AI is currently in the early stages of considering a public listing in Hong Kong, aiming to leverage investors' heightened enthusiasm for AI concept stocks to raise funds. According to Bloomberg, citing people familiar with the matter, Moonshot AI has approached CICC and Goldman Sachs

``` As the ongoing Iran conflict continues to disrupt global markets, an emerging market equity fund that outperformed 96% of its peers over the past year has made a clear determination: high-end Asian technology stocks, especially chip manufacturers related to artificial intelligence, are the most defensive asset category in the current

``` Crude oil futures have entered a backwardation structure, with traders generally betting that the US-Iran conflict will be short-lived. However, analysts warn that the potential destruction of energy infrastructure, high uncertainty in negotiation prospects, and the deep complexity of the Iranian nuclear issue mean that the market may be far

``` Recently, China Life disclosed its 2025 performance: net profit attributable to shareholders of the parent company reached 154.078 billion yuan, a year-on-year increase of 44.1%. By the end of 2025, China Life's total assets had reached 7.59 trillion yuan, net assets of 608.393 billion