Lithium carbonate spot prices have experienced a substantial increase. On May 6th, prices approached the 200,000 yuan per ton mark, reaching a new cyclical high and decisively moving away from previous weak trends. Goldman Sachs released a research report stating that a lack of greenfield investment projects in the short term indicates limited long-term supply elasticity for lithium. Consequently, the future trajectory of the lithium cycle will primarily depend on the strength of demand. For the lithium market to sustain an upward cycle from 2026 to 2027, both energy storage systems and electric vehicles would need to register significant growth. Investment bank UBS voiced its opinion, directly stating that "the lithium industry's upward cycle has returned," and significantly raised its target price for lithium carbonate to $41,875 per ton, equivalent to approximately 298,000 yuan per ton. This implies an anticipated further surge of nearly 50%. Concurrently, unexpectedly exposed production schedule data for the lithium battery industry chain in May showed all segments collectively exceeding expectations, creating strong resonance between supply and demand. Hong Kong-listed companies involved in the lithium carbonate sector include Tianqi Lithium, Ganfeng Lithium, Zijin Mining, and Longpan Technology.
The Nasdaq Golden Dragon China Index closed up 3.45%. Overnight, U.S. stocks ended higher: the Dow Jones Industrial Average gained 612.34 points to close at 49,910.59, a rise of 1.24%; the S&P 500 index increased by 105.9 points to 7,365.12, up 1.46%; and the Nasdaq Composite Index advanced 512.81 points to 25,838.94, a gain of 2.02%. Large-cap tech stocks generally rose, with Nvidia climbing over 5%, seeing its total market capitalization return above $5 trillion. AMD surged over 18%, hitting a record high, with a market cap exceeding $680 billion, ranking 18th globally. Mining stocks were broadly higher: Harmony Gold and Pan American Silver both rose over 12%, Gold Fields gained over 10%, and Coeur Mining increased over 9%. Memory-related concept stocks also advanced: Micron Technology rose over 4%, Western Digital gained nearly 4%, and Seagate Technology was up 2%, all reaching record highs. Most popular Chinese concept stocks increased, with the Nasdaq Golden Dragon China Index rising 3.45%. Baidu jumped over 11%, and Alibaba gained nearly 7%. The Hang Seng Index ADR rose proportionally, closing at 26,557.31 points, up 343.53 points or 1.31% from the Hong Kong close. The NYMEX WTI crude oil front-month contract fell $6.06 to settle at $96.21 per barrel, a decline of 5.93%. The COMEX gold front-month contract increased by $134.60, or 2.95%, to $4,703.1 per ounce.
The Hong Kong Stock Connect program has added 8 new ETFs. The list of eligible ETFs for Southbound Trading under Hong Kong Stock Connect has been updated, with the changes effective May 6, 2026, providing investors with a richer selection of products. This adjustment brings the total number of eligible ETFs under Southbound Trading to 31, covering 10 ETF issuers. The newly included products track indices ranging from traditional broad-based Hong Kong market indices to strategic indices like high-dividend and dividend yield, as well as technology-themed indices. Several of these products provide exposure to overseas markets, covering the United States, South Korea, and multiple Asia-Pacific regions, offering mainland investors more options for global asset allocation.
Samsung announced it will cease sales of all home appliance products in the Chinese market. Samsung Electronics stated on its official website that, in response to rapidly changing market conditions and after careful consideration, it has decided to stop selling all home appliance products, including TVs and monitors, in the mainland China market. For consumers who have already purchased Samsung appliances, the company will continue to provide standard after-sales services in strict accordance with relevant laws and regulations to protect their legitimate rights and interests. This involves domestic home appliance companies.
Counterpoint: iPhone 17 was the world's best-selling smartphone in Q1, capturing 6% of global shipments. According to the latest report from Counterpoint Research, the Apple iPhone 17 became the global best-selling smartphone in the first quarter of 2026, accounting for 6% of worldwide shipments. The iPhone 17 series took the top three spots, while Samsung's Galaxy A series had five models in the top ten. The Xiaomi Redmi A5 ranked tenth. The top ten smartphone models together contributed to 25% of global shipments, the highest concentration ever recorded for a first quarter. This trend primarily reflects stable demand for the iPhone 17 series, while persistent memory shortages have driven up component costs, putting pressure on Android manufacturers in the mass market. This involves Hong Kong-listed Apple supply chain companies.
CITIC Resources announced plans to sell part of its stake in Alcoa. CITIC Resources disclosed that it intends to seek prior shareholder approval at an extraordinary general meeting for a disposal mandate. This would authorize the board to sell up to (i) 1,691,918 Alcoa depositary receipts and (ii) 551,306 shares of Alcoa stock, collectively equivalent to approximately 0.86% of Alcoa's total issued share capital. The minimum selling price is set at $50 per Alcoa share.
Tianqi Lithium stated that as of the end of the first quarter of 2026, the company holds approximately 21.90% of the equity in SQM. SQM holds the mining rights to the Atacama Salt Flat in Chile, which has the largest lithium brine reserves globally. Additionally, through its controlling subsidiary TLEA, Tianqi Lithium controls Windfield Holdings and indirectly holds a 26.01% stake in Windfield. Windfield's wholly-owned subsidiary, Talison Lithium, holds the mining rights to the Greenbushes lithium spodumene mine, the world's largest hard-rock lithium producing operation.
Tianrui Automotive Interior announced the issuance of 400 million shares pursuant to a placement agreement. Tianrui Automotive Interior announced that, under a placement agreement dated April 17, 2026, the company allotted and issued 400 million shares on May 6, 2026, under a general mandate.
Sino Biopharmaceutical announced that the new indication for its independently developed Class 1 innovative drug, Kumoxili Capsules, for first-line treatment of breast cancer has been approved for marketing. Sino Biopharmaceutical announced that its subsidiary, Chia Tai Tianqing Pharmaceutical Group Co., Ltd., has received marketing approval from the National Medical Products Administration for Kumoxili Capsules in combination with fulvestrant for the initial endocrine treatment of patients with hormone receptor-positive, HER2-negative locally advanced or metastatic breast cancer. This is the second approved indication for Kumoxili.
Chow Tai Fook issued a profit alert, expecting annual net profit to increase by approximately 45–55%. Chow Tai Fook announced that the group's net profit for the year ended March 31, 2026, is expected to increase by about 45–55% compared to the previous year. This is mainly attributable to (a) rising gold prices and a more favorable sales mix in retail business and priced jewelry, leading to improved gross profit margin; and (b) operational leverage resulting from strict cost control.
Minsheng International issued a profit alert, expecting an annual pre-tax profit between HK$399 million and HK$442 million, turning around from a loss. Minsheng International announced that the group expects to record a pre-tax profit ranging from approximately HK$399 million to HK$442 million for the year ended March 31, 2026, compared to a pre-tax loss of HK$591 million for the same period in 2025.
BEIGENE reported its financial results for the first quarter of 2026. Global total revenue reached approximately $1.513 billion, a year-on-year increase of 35%. Adjusted operating profit was about $414 million, up 197% year-on-year; adjusted net profit was approximately $375 million, an increase of 175%; net profit was $227 million, surging 178.02 times compared to the prior year period; free cash flow was about $161 million, soaring 14.03 times year-on-year. BEIGENE's full-year 2026 total revenue guidance is between $6.3 billion and $6.5 billion. This includes strong growth expectations driven by the leading position of BRUKINSA in the U.S. market and continued expansion in Europe and other key global markets. The gross profit margin is expected to be in the high end of the 80% range, reflecting the product mix and the impact of full-year 2026 production efficiency improvements.
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