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8/25

00:06

Neways' H1 revenue increased by 100.34% year-on-year to RMB 20.91 billion, and net profit increased by 90.98% to RMB 7.529 billion, but its stock price fell by over 2% the next day.

Xinyisheng released its semi-annual report for 2026 on the evening of August 24. The report showed that the company's operating revenue in the first half of the year reached RMB 20.91 billion, a year-on-year increase of 100.34%; net profit attributable to the parent company was RMB 7.529 billion, a year-on-year increase of 90.98%. However, the market reacted coolly to this financial report, and the company's stock price fell by more than 2% on the following day (August 25).

Analysis pointed out that despite the doubling of revenue and net profit, the quality of profit has raised concerns. The net cash flow from operating activities in the first half of the year was only RMB 1.616 billion, far lower than the net profit for the same period, indicating a significant shrinkage in the cash content of profit. In addition, the gross profit margin of optical interconnect products declined quarter-on-quarter in the second quarter, and R&D investment accounted for only 2.1% of revenue, which also raised concerns about the company's future competitiveness and profit performance after the mass production of 1.6T products. Compared with its peers, Xinyisheng faces challenges in terms of scale and gross profit moat, and is considered to be sliding from a "duopoly" to a "follower" position.

00:06

Nomura: Hong Kong Hedge Funds Bullish on AI but Hesitant to Increase Positions, Anticipates Anthropic IPO Could Trigger AI Sell-Off in October

Nomura quantitative strategist Yoshitaka Suda noted in a report published on August 24 that his recent meetings with 45 investors in Hong Kong revealed that these hedge fund managers are generally cautious on AI stocks in the short term but bullish in the long term. However, they are hesitant to chase the rally and add positions due to the market pullback in July. The report specifically mentioned that many investors are closely watching the super-large IPO of AI company Anthropic, which could potentially launch as early as October. Nomura expects that AI stocks may outperform the broader market in September due to roadshows boosting investor expectations, but could underperform in October as more investors cash out, posing a risk of retail investors stampeding to sell.

00:05

SpaceX acquires AI programming tool Cursor for $60 billion; Musk rarely admits his Grok is lagging, says acquisition aims to catch up with AI rivals like Anthropic.

According to tech media The Information on August 24, Elon Musk stated directly at an all-hands meeting on the day the acquisition was completed that SpaceX's AI division was lagging behind competitors, and specifically praised Anthropic for being in the lead in the AI race. He emphasized that SpaceX AI's Grok was not a leader in its market and urgently needed to catch up, adding that SpaceX would continue to accumulate the industry's strongest hashrate reserves. Following this acquisition, Cursor CEO Michael Truell will report directly to Musk. Since the two parties signed a cooperation agreement in April this year, 45 Cursor employees have left, but its annualized revenue reached $4 billion in June this year, which will directly boost SpaceX's AI business revenue.

8/24