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Real-time News
On July 14th, Xiaomi disclosed the latest progress of its humanoid robots in an automotive factory. After four months of iteration, the success rate of Xiaomi robots in the self-tapping nut loading station has increased from 90.2% to 98%, just one percentage point away from the pass rate of manual operation. Simultaneously, the team also launched two tasks: sorting center console side covers and folding and recycling material bins, both achieving a success rate of 90%. Notably, the center console side cover sorting station scenario showcased by Xiaomi marks the first time that long-term continuous operation of flexible workpieces has been achieved in an automotive factory.Google is extending the Gemini AI feature in its Chrome browser to desktop users in the UK, with an iOS version coming next month.On July 14th, the National Health Commission, the State Administration of Traditional Chinese Medicine, and the National Bureau of Disease Control and Prevention issued a notice requiring all regions to further improve the centralized procurement of medical equipment by public medical and health institutions. All public medical and health institutions nationwide must implement centralized procurement for medical equipment listed in the national, provincial, and municipal centralized procurement catalogs. The National Health Commission and provincial health administrative departments will each formulate their own centralized procurement catalogs for medical equipment, and organize implementation after filing with the corresponding finance departments as required. The notice emphasizes adhering to the principle of "high quality, high price," establishing a full life-cycle cost management concept for equipment, fully considering both one-time procurement costs such as quality and price, and long-term costs such as consumables, reagents, and after-sales maintenance services. It calls for scientifically setting evaluation standards, rationally selecting evaluation methods, strengthening the review of abnormally low prices, preventing "involutionary" competition, and promoting the transformation of centralized procurement from a single goal of saving funds to a comprehensive performance goal of high quality, high price, and high quality.On July 14th, JPMorgan Chase issued a report reiterating its "Overweight" rating on Tencent Holdings (00700.HK) with a target price of HK$690. The bank believes Tencent remains the highest-quality compound growth stock in the Chinese internet sector, possessing sustained user engagement, continuously improving game and advertising monetization capabilities, strong profit margins and balance sheet strength, and the option of AI with a tangible monetization path. The report notes that due to Tencents increased AI investment and the anticipated depreciation starting in the second half of this year, the bank lowered its 2026 fiscal year non-IFRS earnings per share forecast for Tencent by 5% to RMB 28.47, while raising its 2026 capital expenditure forecast to RMB 200 billion. However, the bank emphasizes that these adjustments reflect heavier AI investments and depreciation, rather than a deterioration in Tencents existing core businesses. The bank expects second-quarter revenue to grow by about 9% year-on-year, with value-added services revenue growing by 5% to 6%, gaming revenue by 9% to 10%, marketing services revenue by 18% to 19%, and fintech revenue by about 5%, which is largely in line with market expectations.On July 14th, Citigroup released a research report stating that CGN Power (01816.HK) saw its on-grid electricity volume decline by 3.3% year-on-year to 109.6 million MWh in the first half of the year, while average unit utilization hours decreased by 6.1% year-on-year to 3,554 hours. The proportion of market-based electricity sales increased by 9.8 percentage points year-on-year to 65.9%. Citigroup currently forecasts a 7.8% year-on-year decline in net profit to RMB 2.7 billion in the second quarter, mainly due to the increased proportion of market-based sales. Citigroup believes that the increase in spot electricity prices in Guangdong Province in the second quarter will have a limited impact on CGN Power, as over 95% of its market-based electricity is sold through long-term contracts. In response to the decline in utilization hours, Citigroup lowered its net profit forecasts for CGN Power from 2026 to 2028 by 3% to 6%, and its target price by 23% from HKD 3.2 to HKD 2.45, maintaining a "Sell" rating. Citigroup believes that the current price is not attractive given the declining earnings and the projected dividend yield of only 3.8% in 2026.
