Daily Investment Strategy
Daily focus：BYD（1211）
BYD (1211) recently announced a positive profit alert for the first quarter of 2025, expecting a net profit of RMB 8.5 billion to 10 billion, representing a year-on-year increase of 86.04% to 118.88%. Earnings per share are estimated to be between RMB 2.91 and 3.42. The new energy vehicle industry continues to grow strongly, and as a leading company, BYD achieved record-high sales for the first quarter. The overseas market also saw significant growth, consolidating its position as the global sales leader.
JPMorgan's Dimon Warns: Sweeping Tariffs Threaten Inflation Spike, Recession Risks, and Global Trust Erosion
Jamie Dimon, CEO of JPMorgan Chase, has expressed profound concern regarding President Trump's sweeping tariff policy, warning of both immediate economic consequences and long-term geopolitical implications. In his annual letter to shareholders, Dimon cautioned that "the recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession". While acknowledging potential valid reasons behind the tariffs, he emphasized that the short-term effects would include inflationary pressures on both imported and domestic goods as "input costs rise and demand increases on domestic product". Beyond immediate economic impacts, Dimon's "most serious concern is how this will affect America's long-term economic alliances", suggesting that the tariff strategy could undermine international partnerships and America's global standing. He warned that "if the military and economic coalitions of the Western world were to fracture, the United States would inevitably weaken over time". JPMorgan has already increased its recession probability forecast from 40% to 60% following the tariff announcements. Dimon urged swift resolution, stating "the quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse", characterizing the situation as "one large additional straw on the camel's back" for an economy that was "already weakening" before the tariff announcement.
The Hong Kong Stock Connect recorded a net inflow of HK$23.63bn on Tuesday, of which Tencent (0700) recorded the largest net inflow of HK$3bn, followed by Alibaba (9988); China Southern Hang Seng Technology ETF (3033) recorded the largest net outflow of HK$470mn, followed by WuXi Biologics (2269).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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