To The Moon

$Alibaba(BABA)$ released its first-quarter fiscal 2026 earnings report, with revenue of RMB 268.95 billion, roughly in line with market estimates (RMB 268.52 billion). However, adjusted ADS earnings came in at only RMB 8.52, far below the year-ago figure of RMB 14.75 and the estimate of RMB 11.28. Adjusted net income was RMB 20.72 billion, down 38% year-over-year and missing expectations. Adjusted EBITDA was RMB 39.14 billion, down 14% year-over-year but slightly above estimates. Other income for the quarter was RMB 28.8 billion, significantly below the estimate of RMB 61.15 billion. The company repurchased approximately 13.4 million shares for a total of $162 million. Profit contribution from Ant Group was $230 million. Following

NetEase reported Q2 net revenue of RMB 30.1 billion, up 7.9% year-over-year and beating market expectations of RMB 29.54 billion. Gross profit came in at RMB 21.2 billion, rising 17.5% year-over-year and surpassing the consensus estimate of RMB 19.57 billion. In contrast, adjusted diluted net income per ADS from operating activities was RMB 12.02, falling short of the market's expected RMB 15.59. On a segment basis, online game services revenue reached RMB 25.02 billion, exceeding expectations by RMB 740 million, while innovation and other businesses generated RMB 1.64 billion in revenue, in line with market forecasts. On the bottom line, net profit attributable to shareholders of the company was RMB 7.0 billion, down nearly 18.6% from RMB 8.6 billion in the same period last year. Followin

Duan Yongping, the legendary investor widely known as "Da Dao Wu Xing Wo You Xing" on Investment Platform, has reportedly suffered a major loss on $Moderna, Inc.(MRNA)$, the recent star of U.S. biotech stocks. He first built a position in MRNA back in 2021, when the stock was trading near its peak, and even posted on Investment Platform about his interest in the name. He added to his position multiple times afterward, but eventually liquidated his entire holding at $28.5 per share. Based on rough estimates, Duan lost nearly $24 million on this investment, with a staggering -60% return. Even a top-tier investor can stumble outside his circle of competence. Does his recent avoidance of tech stocks suggest a limited grasp of the secto

Today at the opening, Hong Kong-listed innovative drug stocks surged, with $石药集团(01093)$ jumping 14.28%, $药明康德(02359)$ rising 5% to hit a record high, and $百济神州(06160)$ climbing over 3.58%. On the news front, the rally was boosted by a breakthrough in R&D from a U.S. pharmaceutical company. On August 19, $Moderna, Inc.(MRNA)$ and Merck jointly announced the successful Phase III trial of their partnered mRNA vaccine, sending Moderna's stock soaring 176.97% in a single day and adding $40 billion to its market capitalization. This marks the first success

Kuaishou's Q2 results broadly met market expectations. According to the company's financial report, total revenue in the second quarter grew 1.4% year-over-year to RMB 35.54 billion, marking the slowest growth rate in its history and broadly in line with the Bloomberg consensus estimate of RMB 35.51 billion. Net profit and adjusted net profit came in at RMB 3.15 billion and RMB 3.91 billion, respectively, both slightly exceeding market expectations. However, both net profit and adjusted net profit posted significant declines, mainly due to a sharp 34.7% increase in R&D spending to RMB 4.58 billion, which compressed profit margins. Nonetheless, company management reiterated its commitment to deepening AI investment as a long-term strategic direction. Notably, Kuaishou's Kling AI deliver

$Baidu(BIDU)$'s Q2 Earnings Release: Revenue Declines 4% YoY to RMB 31.3 Billion, EPS Misses Estimates Baidu released its second-quarter earnings, reporting revenue of RMB 31.3 billion, down 4% year-over-year, which was in line with market expectations. However, adjusted earnings per share (EPS) came in at RMB 7.22, missing market consensus by 26%. Baidu now divides its business into two segments: AI business and traditional business. Within the traditional business segment, the advertising business based on search and information feeds continued to decline sharply, falling 23% year-over-year, remaining on a downward trajectory with no clear signs of a turning point. In terms of autonomous driving and smart hardware, Apollo Go (Rob

Today, $小米集团-W(01810)$ stock price surged, at one point rising over 5%, driven by a surprising counter-trend growth in its smartphone business gross margin. Previously, against the backdrop of high memory prices and a pressured consumer terminal market, market expectations for Xiaomi's smartphone business were relatively low. After the earnings report was released, the numbers showed that Xiaomi's smartphone revenue declined 7.5% year-over-year, and shipments also decreased significantly by 26.5% compared to the same period last year. However, the primary reason for this was the company's optimization of its product mix, which involved cutting shipments of mid-to-low-end models. The effects of this product premiumization strategy

Today, $Z.AI(02513)$ at one point plunged over 16%, with its share price approaching the key HK$1,000 level. $MINIMAX-W(00100)$ also tumbled more than 12% at one point, with its stock price briefly falling to near HK$282. Domestic large-model AI stocks may be facing a critical test. On the news front, Goldman Sachs and UBS have issued "Hold" and "Buy" ratings on $Z.AI(02513)$, respectively, with no notable negative catalysts apparent. However, on August 17, Daiwa released a research report pointing out that the market reaction to $Z.AI(02513)$'s GLM-5.3