Category: Flash News

On April 29th, Spain and Portugal experienced large-scale power outages on April 28th, affecting most parts of the entire Iberian Peninsula. On that day, the Spanish Ministry of the Interior declared a national state of emergency and activated the national three-level emergency response mechanism in Madrid, Andalusia, Extremadura, and Murcia.

On April 29th, Porsche expects annual revenue of 37 billion to 38 billion euros, compared to the company’s original estimate of 39 billion to 40 billion euros; The expected annual automotive EBITDA profit margin is 16.5% -18.5%, compared to the company’s original estimate of 19% -21%; The expected operating profit margin for the Robot Operating System (ROS) for the whole year is 6.5% -8.5%, compared to the company’s original estimate of 10% -12%.

On the evening of April 28th, Kangzhi Pharmaceutical disclosed its 2024 annual report and 2025 first quarter report. The report shows that in 2024, the company achieved a revenue of 473 million yuan and a net profit attributable to the parent company of 216 million yuan. During the reporting period, the net cash flow from operating activities increased by 1.08% year-on-year, reflecting the comprehensive effectiveness of the company’s resource optimization and allocation in sales collection management, inventory management, and fund coordination. In the first quarter of 2025, Kangzhi Pharmaceutical’s operating revenue reached 112 million yuan, with a net profit attributable to the parent company of -9.69 million yuan, a significant decrease of 79.16% year-on-year. The report states that the reason for the improvement in performance is a year-on-year decrease in sales expenses, resulting in a decrease in net profit loss. Among them, the net cash flow in the first quarter was 40.51 million yuan, an increase of 228.66% compared to the same period last year, due to a decrease in sales expenses year-on-year and the receipt of proposed performance payments from the controlling shareholder.

On April 29th, the Food and Agriculture Organization of the United Nations and the Intergovernmental Organization for Development in East Africa released a report on April 28th local time, stating that the number of food insecure people in East and Central Africa increased to 73 million in April. The report points out that due to long-term conflicts and insecurity, this number has increased from 69.2 million in February. The report analysis points out that long-term conflicts and insecurity are the main driving factors of food insecurity, which hinder humanitarian aid, disrupt supply chains, impede local agricultural production and market access, and force people to be displaced, ultimately leading to food shortages.

On April 29th, Portuguese power distributor REN announced that the restart of the national power grid is underway and has successfully restored power production at the Castro de Bode hydroelectric power station and the Tapadado Otero thermal power plant. They are preparing to restore power supply to priority power points, including hospitals, security forces, airports, and critical infrastructure such as railways and highways.

On April 28th, the maturity scale of the central bank’s open market reverse repurchase this week was 504.5 billion yuan, of which 176 billion yuan, 220.5 billion yuan, and 108 billion yuan matured from Monday to Wednesday respectively. On Thursday and Friday, the Chinese financial market was closed due to holidays, and there were no reverse repurchase maturities.

On April 28th, Huatai Securities’ strategic research pointed out that last week, domestic policy expectations and external tariffs were repeatedly intertwined, and A-shares continued to shrink and rebound. With the convening of the Politburo meeting and the end of the performance period and the first phase of tariff disturbance, the market may experience a brief “window of opportunity”, and the wait-and-see sentiment of funds is gradually increasing, waiting for new variables to emerge and choose the direction. In general, the Politburo meeting emphasized “bottom line thinking” and supported risk appetite, but tariff variables still exist and may maintain a volatile pattern before the holiday. Follow up attention will be paid to the progress of US China tariff negotiations, high-frequency data on May Day, and US non farm payroll in April. Tariff policies and domestic responses remain the main focus of mid-term transactions, but the urgency in the short term has decreased. It is recommended to focus on exploring fundamental clues after performance disclosure. In terms of configuration, the odds are given priority under uncertainty, and a combination of dumbbell shaped products that maintain dividends, domestic demand, and independent controllability in the medium term, with marginal increase in service consumption and high cost-effectiveness in technology.

On April 28th, China Nuclear Power announced that on April 27th, after deliberation by the State Council executive meeting, it was decided to approve the Zhejiang Sanmen Nuclear Power Project Units 5 and 6, which have been included in the national plan and have undergone comprehensive safety assessment and review. Sanmen Second Nuclear Power Co., Ltd., a subsidiary of the company, serves as the owner unit of the approved project and is responsible for project investment, construction, and operation management. This phase of the project plans to construct two “Hualong One” pressurized water reactor nuclear power units, with a rated power of 1215MW per unit. Currently, the project site is steadily and orderly advancing various preparations before the start of construction.

On April 28th, Wang Qing, Chief Macro Analyst of Dongfang Jincheng, stated that considering the current changes in the external economic and trade environment, the real estate market, and price trends, the timing for “timely reserve requirement ratio and interest rate cuts” in the second quarter is ripe. It is expected that the magnitude of this round of interest rate cuts may reach 0.3 percentage points; The reserve requirement ratio reduction may reach 0.5 percentage points, releasing 1 trillion yuan of long-term funds. This can effectively stimulate the financing needs of enterprises and residents, expand investment to promote consumption, and boost market confidence. In the view of Li Chao, Chief Economist of Zheshang Securities, the core driving factor for reserve requirement ratio reduction is to cooperate with fiscal policy, but the central bank will also comprehensively consider the maturity and deployment of buyout reverse repurchase and MLF (Medium Term Lending Facility); In terms of interest rate cuts, it is still necessary to pay attention to the trend of DR007 (weighted average interest rate for 7-day repurchase of interbank market deposit institutions) and 7-day reverse repurchase operation interest rate. If the market interest rate continues to be lower than the policy interest rate, the window for interest rate cuts will open. (Securities Daily)

① Pending federal elections in Canada; ② At 10:00, the State Council Information Office held a press conference to introduce policies and measures related to stabilizing employment, stabilizing the economy, and promoting high-quality development; ③ 18:00 UK April CBI retail sales difference; ④ 22:30 Dallas Fed Business Activity Index for April in the United States.