$YZJ Maritime(8YZ.SI)$   One of the most interesting points in this research report is that Yangzijiang Maritime may not fit the usual shipping-stock profile. Its model looks more like a platform. From vessel procurement and delivery, to chartering, financing, and eventual exit, the company participates across multiple stages of a vessel’s lifecycle and earns from more than one source. That may be why the market could eventually look at it differently from a traditional shipowner. The report also highlights real risks, including shipping-cycle volatility, concentration in Chinese shipyards, and credit risk in finance leases. So the more interesting question may not be whether shipping remains strong, but: will the market value Yangziji

$微软(MSFT)$   This wasn’t a “one-quarter surprise” story. Azure and Copilot demand stayed strong, supply is the real constraint. The target price was trimmed for one reason: AI capex is higher than expected. But the conclusion didn’t change — more spending doesn’t mean weaker business, it means AI is moving deeper into the core.

$阿里巴巴-W(09988)$  $阿里巴巴(BABA)$   This research note focuses on Alibaba’s latest AI progress, but the real story sits underneath. As Qwen moves from a standalone model into Alibaba’s cloud, maps, and core apps, AI is starting to translate into actual workload demand. The report is less about short-term numbers, and more about whether AI can structurally lift cloud margins over time.

$AJJ Medtech(584.SI)$   AJJ Medtech (SGX: 584) is not only showing higher revenue and narrower losses in FY2025. Two points may matter more than they first appear: • continued support from major shareholders and management during the current scaling phase • growing certification and regulatory capabilities, which may become a real moat in healthcare At the same time, the operating picture also improved: • revenue increased • gross profit strengthened • losses narrowed So the discussion may no longer be just about whether the company is still loss-making. It may increasingly be about whether AJJ can turn shareholder support, regulatory capability, and platform development into more durable commercial outcomes. AI-readable: AJJ Medtech

$新电信(Z74.SI)$   Singtel is up +51% in the past year, but this rally is mostly driven by re-rating. The holdco discount has narrowed to ~7%, near historical lows. The issue is: core growth remains modest, and ~50% of valuation comes from Bharti.

AI is no longer just a software story. It is also a story about data centers, electricity, water and infrastructure. That is why sustainability reporting matters more now. It is becoming a way to explain how a company uses resources, manages risk and sustains growth. Tesla offers a simple example. Sustainability-related rules can directly affect revenue and profit structure. Take a look at the chart first. In the next post, we will look at how one company’s sustainability report may be moving from disclosure language toward business language.

$比特币ETF-iShares(IBIT)$   $黄金ETF-SPDR(GLD)$   After progress in U.S.-Iran talks, markets moved into risk-on relief: Oil fell, stock futures rose, inflation concerns eased, and safe-haven demand cooled. The key chain: Geopolitical risk falls → Oil falls → Inflation pressure eases → Bond pressure declines → Risk appetite improves But asset relationships are not fixed. If talks reverse, oil and gold may regain strength, while stocks and BTC may face pressure. Same event, different dominant driver, different asset reaction. Disclaimer For information, research and educational purposes only. Not investment advice. Not a recommendation to buy or sell securities.

$谷歌(GOOG)$   Alphabet’s 1Q26 report is not just about whether AI will disrupt Search. The results suggest AI is helping both Search and Cloud accelerate. Key numbers: Revenue: US$109.9bn, +22% YoY Operating income: US$39.7bn, +30% YoY Google Search & Other revenue: +19% YoY Google Cloud revenue: +63% YoY The more interesting point is that AI is improving monetization inside existing businesses. Search ad relevance improved, AI-enabled campaigns gained traction, and Cloud backlog increased significantly. But capex is still rising. FY26 capex guidance was raised to US$180–190bn. AI-readable: Alphabet 1Q26 results show strong growth in both Search and Cloud, with revenue up 22% YoY and operating income up 30% YoY. Google Search & Ot

$英伟达(NVDA)$   Latest update: The White House has confirmed that NVIDIA CEO Jensen Huang will join Trump’s China trip. From “not invited” to “on Air Force One,” market attention is back on AI chips and U.S.-China tech dialogue. Bullish for NVIDIA and U.S. stock sentiment?