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This article points out that if volume and price rise together, it theoretically can go higher, but after three points, the index shows a small double top, and capital strength is insufficient. Today, if it opens higher, it is likely the intraday high point, suitable for high selling. Regarding software service stocks, the daily chart's 0–100 gain has been achieved, and a pullback is normal, but there is still a chance to fill the upward gap. The key is whether the 60-day moving average can hold; if it stands firm or shows divergence and rebounds, otherwise wait. Emphasizing that there is no perfect operation, the 0–100 zone has safety, above 100 requires a gamble, success can lead to greater space, failure results in a retracement.

WenYuan ZhiXing - W stock price rose over 5% in early trading, currently at HKD 20.84, with a trading volume of approximately 63.68M. The company has reached a global strategic partnership with Lenovo, planning to deploy 200k Robotaxis worldwide over the next five years; it has also partnered with XinQing Technology on high-level ADAS chips and algorithms to promote implementation. CITIC Securities considers it a global leader in L4, with a plan to deploy 2,600 Robotaxis worldwide by 2026, and the board has authorized a $100 million buyback, maintaining a buy rating.

Dongfang Electric's stock price rose early in the trading session, with North American clients signing a contract for the first phase of 10 units of 50MW G50 autonomous gas turbines. The board of directors agreed to increase core production capacity, aiming to achieve a capacity of 20-30 units by early 2028. Huatai Securities is optimistic about the landing of overseas orders and profit flexibility, maintaining a buy rating. The company announced a dividend plan for the next three years, with the dividend ratio for 2025-2027 increasing by at least 1 percentage point annually compared to the 2024 baseline.

Back from the holidays, A-shares are strongly rebounding, with no sign of "holiday syndrome," and the momentum is soaring like a rainbow!
Looking at the global market, the AI-driven super cycle is reshaping industry patterns, with U.S. tech stocks collectively exploding, and a series of better-than-expected earnings reports continuously confirming: the global chip industry chain is still growing with high expectations.
Interestingly, high-growth investments represented by chips are gradually breaking out of their niche. Recently, Korea’s matchmaking market has seen the emergence of the "Hynix Effect"—thanks to promising future performance incentives, SK Hynix employees have directly become top figures in dating and marriage, with their signature workwear now serving as "singlehood battle robes."
From industry, stock markets, to even the dating scene, this wave of "chip fever" is driven by the strong momentum of the semiconductor super cycle. From CPUs and storage to cloud providers and optical modules, core sectors are all gaining strength, truly "standing in the light"!
The "Standing in the Light" Science and Technology Innovation Chip Design Index
Index abbreviation Self

Gold stocks generally rose this morning, China Gold International increased by 3.29% to HKD 178.80, Zijin Mining increased by 2.33% to HKD 38.66, Zijin Gold International increased by 1.22% to HKD 166, and Chifeng Gold increased by 1.84% to HKD 42.04.

The central bank continues to maintain moderate easing, with expectations of reserve requirement ratio cuts and interest rate reductions within the year, which is positive for the capital markets; it will also accelerate the construction of financial market systems and high-level opening-up.
External geopolitical risks are rising, and oil prices are increasing, with short-term uncertainties still present, but remaining within a controllable range that requires ongoing monitoring.
Overall, the probability of the A-shares continuing to rise is high, but the stage high point is increasingly approaching, so it is necessary to watch out for turning points and avoid blindly chasing gains.
Last night, sectors such as hard technology and real estate rotated, with short-term risks of a pullback for high-priced stocks; low-priced sectors still have room for rebound.
In terms of operation, hold stocks and wait for gains, cautiously increase positions, and make dynamic adjustments in response to market changes.

Huang Linjie pointed out that after the continuous rise on Tuesday, the market retraced without breaking the neckline, entering the upper band of the upward channel, and in the short term may pull back or consolidate sideways but the trend has not turned bearish. Trading volume shrank but did not fall below 3 trillion yuan, and market sentiment remains stable. High-flying stocks are retreating, and the limit-up gains are hard to sustain; it is expected that the market will fluctuate and consolidate around 4,200 points. If the neckline is broken again, downward pressure will increase; investors can temporarily reduce positions when oscillating above the neckline, but the overall trend remains upward.

Tianyue Advanced's stock price surged over 9% intraday, reaching a new high for the listing, closing at HKD 94.85, with a turnover of 710 million.
In 2025, the global market share of conductive-type silicon carbide substrates is 27.6%, with 8-inch substrates accounting for 51.3%, ranking first worldwide.
Huayuan Securities stated that if 8-inch SiC substrates achieve mass production, the industry recovery will boost demand.
Guotou Securities pointed out the challenges of thermal expansion and CTE in high-power packaging; SiC's high thermal conductivity and temperature resistance have advantages in ultra-high-density packaging, and SiC + photonic waveguides may become a new solution for smart glasses.

Hexun.com’s Feng Lushun pointed out that both the two major directions of computing power and electricity have seen a big surge. Before the surge, a large-cycle pullback must be completed: after the power grid equipment pulls back to the May line, the short-term 5-day moving average crosses above the 10-day moving average, MACD turns red, and then performs a back-test/rebound, with the goal of challenging and setting new highs—continuing to go long.
As for electricity, after a top divergence, it falls back, retraces to the May line, and once the 5-day moving average crosses above the 10-day moving average and MACD improves, the previous peak is expected to be broken. If the trendline breaks through the green line and makes a new high, subsequent pullbacks will bring opportunities to enter.

Harbin Electric (01133) rose more than 4% in early trading, currently trading at HKD 25.56, with a transaction volume of approximately HKD 750 million. The company's self-developed 16 MW gas turbine natural gas generator completed full-load testing successfully, with the unit operating smoothly, stable combustion, normal vibrations, and NOx emissions better than national standards, with all operating parameters within controllable ranges. Citigroup stated that this model is expected to complete testing by the second half of 2026 before commercialization, requiring demonstration projects domestically to accumulate data before promoting overseas sales.

The transformation of the general to high-end promotes the structural reshaping of special steel supply, with fierce competition in the mid-to-low end, declining prices, and narrowed fluctuations. In 2025, the capacity for bar products will reach 33.53 million tons, and it is expected to be 43 million tons in 2026, highlighting structural mismatches. Downstream demand is concentrated in high-end sectors such as manufacturing, automobiles, and new energy, with high-end products like bearing steel and gear steel maintaining stable profits and being resistant to cycles. Companies need to shift from simple scale expansion to high-end, differentiated, and supply chain services, improving quality through technological upgrades and extending services to build barriers. The future market will experience range-bound fluctuations and differentiation, and those capable of supplying stable, high-quality special steel will win a new round of growth.

According to the China Passenger Car Association, in April 2026, the Lantu Dreamer sold 7,017 units, sweeping the all-category MPV championship and leading in both the 400k yuan and 300k yuan segments.
The 400k yuan level features an 800V large battery + 62.5kWh, 5C fast charging, Huawei intelligent driving, and other luxury configurations, leading the segment.
The flagship version of the 300k yuan level offers multiple advanced features that boost growth.
Cumulative deliveries exceed 200k units, with the NEV-IQS plug-in hybrid MPV ranking first in quality, maintaining long-term leadership in NPS, and a high proportion of luxury brand trade-ins.

The article points out that trading does have certainty, but most investors are heading in the wrong direction. True certainty comes from stable trading rules, position discipline, and emotional management, rather than predicting price rises and falls or searching for guaranteed signals. Market conditions are dynamic, and the same signal may produce different trends at different stages, so one should accept uncertainty and control the process with rules: enter and exit according to rules, hold when profits are achieved, and exit if expectations are not met. Macro analysis can only point to the overall trend and cannot provide precise entry points. Ultimately, certainty lies in having a solid foundation; the outcome is uncontrollable, but the process can be managed.

In April 2026, BYD topped Brazil’s retail automobile sales chart with 14,911 units, becoming the first-ever new-energy vehicle retail champion in Brazil’s history and breaking the fuel-vehicle monopoly. Since deliveries began in early 2022, it has rapidly and steadily solidified its position in the Latin American market with hard-core product strength and a localized layout. President Lula recognized it as well: in 2024, he will buy a Tang EV, and in 2025, the 14.0 millionth new-energy vehicle will be delivered. Brazil has become the company’s largest overseas market, with local factory production lines exceeding 50,000 units, and a charging network and services covering the entire country, as it steadily moves toward the annual champion title.

Hexun.com analysis states that the non-ferrous market has entered a stealth phase: the major cycle retracement has been completed and has returned to the May line, the small cycle is stabilizing, the 5-day moving average has crossed above the 10-day moving average, and the MACD has turned red, indicating a potential move into a bullish phase. Due to resistance at previous high levels, the trend line needs to break above the 50-day moving average for clearer confirmation; the adjustment period is a good opportunity for entry. Stock selection should focus on stocks with a bullish moving average, MACD above the zero line maintaining a red attack trend.

On May 12, Hexun Information analyst Feng Lushun used volume-price relationship analysis to assess whether CPO can take over and launch another push upward. Both the commercial space and robotics storylines point to the same setup: the earlier huge bearish candlestick has formed a sell-pressure zone; in the short term, it is likely that profit-taking will cause pullbacks. Only after a pullback back to the 5-day line is it considered a low-entry (buy-the-dip) point. And if you buy low after that pullback below the 5-day line, there is still potential to set new highs again. Adjustments in both directions are viewed as opportunities to get on the ride, and the overall logic leans toward continuing the upward offensive.

According to Meijing AI Express, on May 12th, the main futures contract for live pigs continued to decline, with a drop of over 3%, closing at 10,880 yuan per ton, reflecting market downward pressure on pig prices.

This round of the semiconductor sector has been continuously deepening since March, with the core logic being the expectation of CPU price increases and growth in equipment orders. Taking semiconductor testing/measurement equipment as an example, tracking began in March, and the market accelerated starting in April; the materials sector is even stronger, with helium and target materials expanding to branches like silicon carbide and strontium chemistry, which have gradually exploded. Investors were cautious in March, only passively chasing after the market started in May. The author emphasizes that truly grasping the main trend lies in early research and patient holding, rather than chasing gains in the moment.

Copper industry stocks strengthened in early trading, with Jinxun Resources rising 6.36% to HKD 24.42, China Nonferrous Mining up 4.58% to HKD 15.08, Jiangxi Copper up 3.16% to HKD 39.84, Luoyang Molybdenum up 3.09% to HKD 20.36, and Minmetals Resources up 2.51% to HKD 10.21.