According to reports, Tesla is cutting its car production in the Chinese market due to slowing growth in electric vehicle sales. Chinese concept stocks are generally down in pre-market trading, with XPeng-W dropping nearly 5%, JD.com, Bilibili, and Li Auto falling over 2%, Alibaba-SWR, Pinduoduo, Nio-SW, and Baidu-SW dropping over 1%. Lululemon is down nearly 13%, Nike is down over 6%, and FedEx is up nearly 13%

Pre-market trading in US stocks: Tesla fell nearly 4%, XPeng-W fell nearly 5%, leading the decline in Chinese concept stocks!

In the fourth quarter, MEITUAN's core local business remained robust, but the profit margin decreased by 2.1% year-on-year; losses in new businesses narrowed. However, the growth rate of MEITUAN Select slowed down, with scale growth below expectations

Meituan's Q4 revenue increased by 22.6% year-on-year, with adjusted net profit more than quadrupling. Losses from new businesses narrowed. | Financial Report Insights

Citigroup has significantly raised NVIDIA's target price from $820 to $1030, while also increasing the earnings per share forecast for the 24/25 fiscal year by 7% and 21% respectively, to reflect the better-than-expected pricing of the Blackwell platform; meanwhile, BNP Paribas has lowered LI AUTO's target price to HKD 163, but estimates that the company will be able to reverse Mega's weakness in the fourth quarter

Rating Quick Look | TENCENT, NVIDIA's target prices significantly raised! PDD, Li Auto, XPENG-W facing price cuts

MEITUAN released its fourth-quarter and full-year performance for 2023, with annual revenue of 276.7 billion RMB, a year-on-year increase of 26%. The food delivery business continued to achieve high-quality development, with the number of instant delivery orders increasing by 24% to 21.9 billion. MEITUAN's flash purchase orders continued to grow, with an annual order growth rate exceeding 40% year-on-year

MEITUAN 2023 Financial Report: Instant delivery orders reached 21.9 billion, with MEITUAN Flash Purchase orders growing by over 40%

美团 2023 年年净利润 138.6 亿元人民币，市场预期 128.4 亿元人民币。

美团第四季度营收 737.0 亿元人民币，预估 727 亿元人民币。

ZX INC(09890) rose 29.7%, with a trading turnover 79.2 Million HKD, and a year-to-date fell 49.6%. LUFAX(06623) rose 20%, with a trading turnover 31.1 Million HKD, and a year-to-date rose 52.5%. CHINA RUYI(00136) rose 19.21%, with a trading turnover 572.3 Million HKD, and a year-to-date rose 22%.

Top 10 HK Stock Gainers (3.22)

HENDERSON LAND(00012) rose 2.39%, with a trading turnover 258.9 Million HKD, and a year-to-date fell 2.1%. CKI HOLDINGS(01038) rose 1.53%, with a trading turnover 158.1 Million HKD, and a year-to-date rose 7.9%. LI AUTO(02015) fell 10.88%, with a trading turnover 2.5 Billion HKD, and a year-to-date fell 18.2%. CK ASSET(01113) fell 10.73%, with a trading turnover 1.5 Billion HKD, and a year-to-date fell 16.2%.

Top 5 HK Stock Gainers/Losers (>100B) (3.22)

ZENGAME(02660) fell 24.63%, with a trading turnover 56.0 Million HKD, and a year-to-date fell 36.7%. OOIL(00316) fell 16.71%, with a trading turnover 627.8 Million HKD, and a year-to-date fell 8.5%. ESR(01821) fell 16.1%, with a trading turnover 157.5 Million HKD, and a year-to-date fell 31%.

Top 10 HK Stock Losers (3.22)

Overnight hottest contracts: Apple puts with a March 22 expiration date and a strike price of $170, with a trading volume of nearly 180,000 contracts; Apple calls with a strike price of $175 also traded over 170,000 contracts. Options on Aochiya surged to 740,000 contracts, with 97.6% being call options; Call options with a June 21 expiration date and a strike price of $40 surged to nearly 150,000 contracts

US Stock Options | Apple's trading volume doubled, Micron Tech also doubled!

This year's production capacity has been sold out, and most of next year's production capacity has already been booked

Micron Technology supplies NVIDIA: Production capacity is expected to be fully sold out this year and next

The "battle" between Apple and the Department of Justice will be a marathon that concerns antitrust law reform and updates, impacting the fate of the technology industry

Another milestone in anti-monopoly! In 1998, Microsoft was split up. Will Apple follow the same path this time?

Bitcoin fell below $65,000 on Thursday against the backdrop of a stronger US dollar, but analysts believe the pullback has ended. The softening trend in Bitcoin prices is attributed to the US dollar's strength offsetting the gains from the dovish tone of the Federal Reserve. Market analysis firms believe that Bitcoin has completed its pullback before rebounding and is expected to perform well in the next upward trend. Bitcoin traders point out that the bottom of the pullback has formed before holding the $65,000 level. Bitcoin may consolidate in the current price range for a period of time and will need to break through the $69,000 high to reach a new high

Bitcoin once fell below $65,000, but analysts say "the pullback is over"

3 月 22 日，针对 Kimi 概念股近期的股价波动， Kimi 智能助手的开发商北京月之暗面科技有限公司回应称，月之暗面的开放平台是面向所有开发者和企业用户开放的，任何合规的开发者和企业，都可以将 Kimi 智能助手背后的同款大模型 API（应用程序编程接口）接入到自己的产品或服务中，基于 Kimi 大模型的长文本处理和指令遵循能力，升级或打造全新的、有创造力的产品或服务。

月之暗面：所有合规开发者和企业均可接入

美国银行援引 EPFR 数据：最近一周，现金流出总额为 612 亿美元，为自 2023 年 10 月以来最大规模的流出。黄金资金流入规模达到 11 亿美元，为 2023 年 5 月以来最大。美股资金流出 212 亿美元，加密货币流出 1 亿美元，债券流入 54 亿美元。

The latest dot plot released by the Federal Reserve shows that policymakers expect to cut interest rates three times before the end of this year, indicating a more dovish stance than the market. The market expects a 76% chance of at least a 25 basis point rate cut in June, and a close to 90% chance of a rate cut by July or earlier. The Federal Reserve seems to be following its plan, with the Pro UltrPro Shrt S&Pro 500 up nearly 10% this year. Investor sentiment towards the Federal Reserve has fluctuated significantly, from initially expecting six rate cuts by 2024, to now questioning whether there will be a rate cut in the summer. The market is optimistic about the dovish stance, expecting the Pro UltrPro Shrt S&Pro 500 to potentially rise to the 5800-6000 point range by the end of the year

Is the Federal Reserve more dovish than market expectations? Is a rate cut in June inevitable?

蔚来 CEO 李斌针对近日网传自己直播首秀收益超百万的事情进行了回应。李斌称由于自己是第一次直播，对业务并不熟悉，所以开通了打赏功能，随后李斌晒出直播收入明细，并笑称自己也想多点收入，但当晚的实际收入为 33088 元，并没有网传的那么夸张。“我决定将这个钱全部捐给大学生方程式这个赛事，后续将继续接受打赏，所获收入将全部捐出。”

蔚来 CEO 李斌直播首秀收益超百万？回应：没那么夸张

East China Securities expects that MEITUAN's total revenue in the fourth quarter will reach 72.4 billion yuan, a year-on-year increase of 20%; the operating profit of core local businesses and new businesses combined will reach 2.5 billion yuan; it is expected that increased subsidies will impact the short-term profitability of food delivery, while flash sales will continue to show a growth trend. Looking forward to a bright future in 2024!

Preview | Meituan to release quarterly report after hours! What to pay attention to?

* 摩通降拼多多目标价至 190 美元 评级「增持」

According to data from the outage tracking website Downdetector.com, Instagram, owned by Meta Platforms, experienced another outage on Thursday, with many users suddenly being logged out and unable to log in or use the platform. The issue has not been resolved yet. The data shows that this situation started around 6:30 am this morning, with users in some regions reporting the same problem. At one point, over 5,000 users in the United States reported issues. Downdetector tracks outages by aggregating status reports from multiple sources, including error reports submitted by users on its platform. Meta Platforms has not responded to requests for comments. It is worth mentioning that this is the third such incident this month since the global outage of Meta Platforms on March 5. Previously, on the evening of March 20, many users reported outages and login issues on Meta Platforms' social platforms like Meta and Instagram

Meta Platforms suffers another major outage: Instagram experiences its third outage this month, with a large number of users logging out

Once the agreement to sell database access rights is reached, it will bring substantial revenue to the BBC

BBC plans to build its own AI model and negotiate data access rights with tech giants such as Amazon

腾讯调整游戏开发重心，导致《刺客信条：侠隐》手游推迟到 2025 年发行。腾讯在 2023 年年底，将开发《刺客信条：代号玉石》的开发者转入开发休闲游戏《元梦之星》，以加强与网易《蛋仔派对》的竞争。

消息称腾讯调整游戏开发重心，腾讯刺客信条手游推迟到 2025 年发行

Lululemon is expected to achieve a revenue of $10.7 billion to $10.8 billion in the current fiscal year, representing a year-on-year growth of 11% to 12%, which is significantly lower than last year's 19% growth rate

The U.S. market demand is sluggish, sales guidance falls short of expectations, Lululemon's stock price plunges by 11%

比特币站上 66000 美元/枚，日内涨 0.91%。

NVIDIA plans to use Samsung Electronics' high-bandwidth storage chips in its artificial intelligence processors. Investors are excited about the prospects of Samsung Electronics, but not all agree. SK Hynix has provided the latest version of HBM3E memory to NVIDIA, but the market believes that SK Hynix's leading position in HBM chips has more potential. Due to the demand for memory commoditization and pricing, the market is cautious about the prospects of Samsung Electronics. Huang Renxun plans to purchase Samsung Electronics' memory chips to boost its stock price, but the market holds different views on the stock price trend

Joining NVIDIA's HBM chip supply chain is expected to boost Samsung Electronics' AI narrative? The market is not buying it

饿了么召开百人团会议，俞永福在会上表示饿了么已完成阶段性任务，减亏明显。经过新的管理团队接力，饿了么将在接下来三年走过一个新周期，距离独立上市越来越近。俞永福希望饿了么能改善经营质量，等待盈亏平衡点到来。

饿了么新三年战略规划：距结束亏损只差一些时间，仍将以上市为目标

* 里昂降理想汽车目标价至 163 元 短期挑战在 Mega 和 L 系列资源分配不平衡

* 里昂降理想汽车目标价至 163 元  短期挑战在 Mega 和 L 系列资源分配不平衡

Bitcoin prices have fallen, with JPMorgan Chase predicting that Bitcoin may see its worst single-week performance. The waning interest in Bitcoin spot ETFs has led to outflows of funds, causing prices to drop by over 10%. JPMorgan Chase strategists believe that Bitcoin is still overbought and predict that prices will stabilize after the halving event in April. The inflow of funds into Bitcoin spot ETFs has slowed down, leading to massive outflows of funds. JPMorgan Chase forecasts that Bitcoin prices will fall to around $42,000 after April

The "overbought pullback" alarm is sounding! Bitcoin may face its worst single-week performance in 2024

对于 26 岁的腾讯而言，“老树如何发新芽”？腾讯的降本已经告一段落，但如何 “增效” 是永恒的课题。

腾讯一年净赚 1557 亿，马化腾依旧不满意

茶白道据悉目标是通过香港 IPO 筹集约 3 亿美元资金。

先锋集团预计美联储今年不会降息，与官方观点相左。该预测可能对全球央行和市场产生影响。虽然有其他机构也认同此观点，但美联储预测仍为今年降息三次。投资者对此表现出振奋，股市反弹。先锋集团认为美国股市相对高估。

市场最 “鹰派” 预测？资管巨头先锋集团预计美联储今年不会降息

长实集团股价大幅下跌超过 11%，创下 2020 年 11 月以来的新低。公司去年盈利下滑 20%，每股盈利为 4.86 港元，末期息减少 12.43%。这是一则关于公司财务信息的摘要。

长实集团大跌超 11% 创阶段新低，去年盈利下滑 20%，末期息减少 12.43%

截至发稿， 理想汽车-W 跌 6.37%、小鹏汽车-W 跌 4.09%、蔚来-SW 跌 2.36% 。

港股汽车股多数走低 理想汽车跌超 6%

恒生指数跌超 1%，恒生科技指数跌超 2.2%，互联网医疗、药品分销及航运股跌幅居前。

库克亲临上海为亚洲最大苹果新店揭幕，只为 “救场”？一年三次来华，库克想传达什么信息？

苹果市值一夜蒸发 8000 亿元！库克为何一年三次来华？

Considering that Broadcom has found a third customer for its custom AI chip business, TDCowen has upgraded its stock rating to "outperform the market" and raised the target price from $1400 to $1500

"World-class AI player"! Analysts are bullish, Broadcom's stock price soars 5%

Admitting mistakes in a timely manner, it's never too late

Li Auto wants to give MEGA more time

对于拼多多而言，如何在抢占用户低价心智的同时，进一步扭转消费者对于主站的负面印象，以及如何在高举出海大旗的道路上，规避 TikTok 如今所面临的难题，将是其加下来需要持续不断探索的课题。

Temu“杀疯了”，拼多多赢麻了？

3 月 22 日，有市场消息称，阿里将出售哔哩哔哩 ADR，预计将每份 ADR 定价在 11.60 美元，潜在变现 3.578 亿美元。对此，阿里相关人士表示：“此次出售主要基于阿里自身的资本管理目标，不会影响双方业务上的合作，阿里旗下相关业务会继续加强与 b 站在各领域的合作。

出售哔哩哔哩？ 阿里：基于资本管理目标，不影响业务上的合作

摩根大通策略师表示，比特币 “看起来仍然处于超买状态”；预计在 4 月备受关注的 “减半” 事件到来前，比特币将进一步下跌。

摩根大通策略师：比特币价格还有进一步下跌的空间

比特币 ETF 在最近三天遭遇最大净流出，可能成为今年表现最差的一周。市场对现货比特币交易所交易基金的热情降温，导致比特币价格下跌 10%。摩根大通策略师警告称，价格可能进一步下跌。这些 ETF 迄今为止已经获得了 114 亿美元的资金流入，但在最近的净流出中，流出资金总计达到 7.42 亿美元。比特币价格的下跌可能与这一现象有关。

比特币 ETF 遭遇最大三日净流出 币价单周表现或为今年最差之一

Bitcoin spot ETF encountered the most severe three-day outflow of funds since its listing. JPMorgan Chase warned that this downward trend may continue, with Bitcoin price expected to plummet to $42,000 after April

From record highs to a drop of over 10%! ETF demand shrinks, Bitcoin poised for its worst weekly performance of the year

Expanding production capacity may exacerbate the situation of lithium supply surplus, but as the world's second largest lithium producer, SQM prefers to stockpile inventory rather than reduce its scale, demonstrating optimism about the outlook for lithium demand

Despite the industry's cold winter, lithium mining giant SQM is expanding production against the trend

美股集体创新高，英伟达四连涨，Reddit 上市首日涨近 48%。Apple 市值一夜蒸发逾 1100 亿美元，美国司法部提起反垄断诉讼，又将成为欧盟数字市场法下首批调查对象。微软推出首批 AI 电脑。继减持小鹏汽车之后，阿里又出售哔哩哔哩 ADR。10 只美国现货比特币 ETF 遭遇 7.42 亿美元资金外流。德国国家男子足球队同耐克签约，将结束与阿迪达斯长达 77 年合作。

早餐 | 标普创出今年第 20 个历史新高，媒体称美股交易结算周期将变 T+1

小米能否打破增长困境，就看小米汽车的了。但小米汽车目前定价颇为尴尬的原因是，其定价过低不仅需要考虑成本、利润的问题，还会影响到品牌的定位。此前手机高端化进程颇为曲折的小米，大概率不想再在汽车业务上重新走一遍老路。

小米手机不好卖了，汽车能救雷军吗？

Nike's performance in the third quarter of the 2024 fiscal year exceeded expectations, but sales during the holiday season in China were lower than expected. Nike has announced a restructuring plan to reduce costs by approximately $2 billion over the next three years. Due to weak demand, the company has lowered its sales guidance. Nike's gross margin continued to rise this quarter, reaching 44.8%. The stock price fell by over 6% after the announcement of a pessimistic guidance

Nike's holiday season sales in China fell short of expectations, dropping over 6% after announcing a pessimistic guidance in after-hours trading

Micron Tech(MU) rose 14.13%, with a trading turnover 9.9 Billion USD, and a year-to-date rose 28.7%. Broadcom(AVGO) rose 5.64%, with a trading turnover 9.9 Billion USD, and a year-to-date rose 21.3%. Accenture(ACN) fell 9.31%, with a trading turnover 3.3 Billion USD, and a year-to-date fell 1.3%. PDD(PDD) fell 7.47%, with a trading turnover 2.4 Billion USD, and a year-to-date fell 16.4%.

Top 5 US Stock Gainers/Losers (>100B) (3.21)

Tourmaline Bio(TRML) fell 35.95%, with a trading turnover 137.4 Million USD, and a year-to-date rose 9.3%. SoundHound AI(SOUN) fell 15.76%, with a trading turnover 862.9 Million USD, and a year-to-date rose 215.1%. Five Below(FIVE) fell 15.4%, with a trading turnover 693.3 Million USD, and a year-to-date fell 17.1%.

Top 10 US Stock Losers (3.21)

Lufax(LU) rose 45.7%, with a trading turnover 259.4 Million USD, and a year-to-date rose 59.9%. MMTEC(MTC) rose 20.42%, with a trading turnover 1.4 Million USD, and a year-to-date rose 130%. Baozun(BZUN) fell 16.67%, with a trading turnover 5.9 Million USD, and a year-to-date fell 12.4%. LexinFintech(LX) fell 10.75%, with a trading turnover 7.1 Million USD, and a year-to-date rose 3.8%.

Top 5 CDRs Gainers/Losers (>100M) (3.21)

Reddit(RDDT) rose 48.35%, with a trading turnover 2.5 Billion USD, and a year-to-date . Lufax(LU) rose 45.7%, with a trading turnover 259.4 Million USD, and a year-to-date rose 59.9%. Guess?(GES) rose 20.69%, with a trading turnover 221.7 Million USD, and a year-to-date rose 35.8%.