Flash News

TREE NEWS update: Montage Technology independent director YUHUA CHENG (Cheng Yuhua) proposed a buyback of the company’s A-shares worth 300 million to 500 million yuan, funded by the company’s own capital through centralized bidding, the company said. The repurchased shares will be used for an employee stock ownership plan or equity incentives, with the buyback to be completed within three months of board approval. The maximum price is set at 150% of the 30-day average before the board resolution.

TREE NEWS reports: Cinda Securities reported first three-quarter revenue of RMB 3.305 billion, up 9.48% year on year, while net profit attributable to shareholders fell 4.83% to RMB 1.288 billion. Non-recurring net profit slipped 0.49% to RMB 1.345 billion. Third-quarter net profit dropped 42.03% to RMB 191 million, which the company attributed mainly to higher income tax expenses in the period.

TREE NEWS update: Sugon chairman and general manager Li Jun proposed a share buyback via centralized bidding, with total funds of no less than RMB 300 million and no more than RMB 500 million, at a price no higher than 150% of the 30-trading-day average before board approval. The repurchased shares will be used for employee equity incentives or an employee shareholding plan, within 12 months of board approval.

TREE NEWS reports: Citi analysts say AI-driven earnings growth and shifts in investor ownership are weakening the traditional link between US Treasury yields and equity valuations, with rate rises now affecting growth expectations more than stock valuations. The bank’s model puts the S&P 500’s fair P/E range at 17.1 to 22.1 times, while the current multiple stands at 22.4 times, signaling bullish market sentiment. Since late August, cyclicals and defensives have been hurt by rising rates, while growth stocks held up on AI earnings expectations.

TREE NEWS reports: Between 05:22 and 05:32 Beijing time, perpetual contracts tied to US AI-concept stocks fell sharply before rebounding. Western Digital dropped as much as 7.03% to $298.70 and last traded at $318.65; Nebius fell 6.97% to $155.12; Applied Optoelectronics lost 6.93% to $70.52; IREN fell 6.92% to $25.17. Memory names also slid: Micron fell 6.32% to $818.57 and SK Hynix dropped 6.30% to $127.68.

TREE NEWS update: Tesla CEO Elon Musk acknowledged he went “somewhat off track” in political affairs and spent more time away from his companies than he should have. Musk said he should have played a less high-profile role and devoted no more than one or two months to government work, but instead spent about four months at the White House. He added that he should have returned sooner to focus on artificial intelligence.

TREE NEWS update: Mercedes-Benz Group unveiled the AMG GT SUV, the AMG brand’s first fully self-developed all-electric SUV, with a starting price of €113,050. The model uses three axial-flux motors and an 800-volt battery, producing up to 1,169 horsepower and a maximum range of 700 km on a single charge. It directly targets the Porsche electric Cayenne and recently launched electric SUVs from Jaguar Land Rover and Volkswagen’s Bentley.

TREE NEWS reports: The S&P 500 fell 1.1% on Friday, October 16, marking its biggest weekly decline since June, while the Nasdaq 100 dropped 2.5% for its worst weekly performance since April 2025. Surging crude oil prices revived inflation concerns, and doubts over the sustainability of the AI investment boom continued to weigh on chip stocks. CoreWeave shares fell sharply, deepening the selloff in technology stocks.

TREE NEWS update: Situational Awareness, the fund run by “AI stock god” Leopold Aschenbrenner, will disclose its equity holdings for the third quarter, covering July 1 to Sept. 30, on Nov. 16. The fund reportedly returned 439% in the first half on leveraged bets on SanDisk (SNDK) and Micron (MU), but its portfolio reportedly fell about 67% during the July AI stock selloff before it sold the positions, with Citadel said to have bought a substantial portion. It also bought AMD, Bloom Energy (BE), CoreWeave (CRWV) and SanDisk in trades worth about $315 million.

TREE NEWS update: Geely Automobile Group Senior Vice President Lin Jie said at the launch event for the Geely Xingrui L PLUS in Chengdu on October 17 that pure fuel vehicles still account for nearly 70% of the global market. He stated that user demand for energy types is diverse while the pursuit of intelligent experience is consistent, concluding that the future of fuel vehicles lies in full hybridization and full intelligence.

TREE NEWS update: Shenzhen JLC said at an analyst meeting on Oct. 17 that high-layer-count and HDI boards are key future directions for its PCB business, which it described as both a major source of revenue and profit and an entry point for its other businesses. The company said its PCBA business has grown rapidly in recent years, and that penetration rates are a key metric it tracks because PCBA customers must also buy PCBs from the company.

TREE NEWS update: Douyin said it has filed a lawsuit against a JD.com sales staffer named “Zuo Qi” for fabricating facts and attacking its e-commerce business, and that the court has formally accepted the case. Douyin said Zuo Qi then posted further rumors on WeChat Moments, that it has completed legal evidence preservation and will file an additional suit, vowing to defend its commercial reputation to the end.

TREE NEWS reports: Robinhood’s platform client assets surpassed $350 billion in the second quarter, CEO Vlad Tenev said while reviewing the company’s post-IPO transformation. Tenev attributed the return to growth to business diversification. The figure marks a new high for the retail brokerage’s asset base.

TREE NEWS reports: Some existing and prospective Anthropic IPO investors are weighing cutting their valuation expectations to about $1.5 trillion after the company disclosed its latest financials, down from roughly $2 trillion ahead of a November listing. The figures were discussed at an October 14 investor event in San Francisco. Anthropic reported third-quarter revenue up 45% quarter-on-quarter to $16.8 billion and adjusted profitability, but growth slowed from the second quarter’s more than doubling to $11.6 billion.

TREE NEWS update: China’s Ministry of Industry and Information Technology on Oct. 16 published its 412th batch of road motor vehicle manufacturer and product announcements, listing Anhui Luxeed New Energy Vehicle Co. among proposed new vehicle manufacturers, with the public comment period running to Oct. 23. A Luxeed insider confirmed on Oct. 17 that the company will obtain an independent manufacturing license once the filing is approved, with the factory coming from Chery, and confirmed Luxeed’s plan to list independently.

TREE NEWS reports: Fundstrat co-founder Tom Lee said crypto, chip stocks and AI cloud computing companies have all retraced to support levels, calling them “coiled springs” if fundamentals hold, in a CNBC interview clip posted on Oct. 17. Lee argued the assets offer an attractive risk-reward ratio when fundamentals remain intact while market panic rises.

TREE NEWS update: Strive priced a $630 million offering of its SATS preferred stock at $90 per share. The $100 dividend base implies a 16.7% simple annual yield at the offer price, above SATA’s initial 15%. The offering is tied to the company’s bitcoin-linked preferred equity.

TREE NEWS reports: Ether ETFs shed $320 million in outflows, surpassing bitcoin funds’ withdrawals for the week, as five crypto ETF groups tracked by Farside lost a combined $610.7 million during Oct. 12–16. Bitcoin outflows slowed 66% from the preceding week, leaving ether products as the main source of redemptions.

TREE NEWS reports: Strategy shares slid 9.6% following MSCI’s decision, a steeper decline than bitcoin’s own drop. The company’s disclosed bitcoin holdings remained about $5.1 billion above cost. MSCI’s final affected-company list is due Nov. 11.

TREE NEWS update: Postbank, Bulgaria’s fourth-largest bank by assets as of end-June, plans to add stocks, ETFs, crypto assets, commodities and metals to its mobile banking app in early 2027, offered through a partnership with an international investment platform. The move follows First Investment Bank’s announcement that it will offer crypto investing via its app in early 2027 with Austria’s Bitpanda.