To The Moon

That's Why $黄金ETF-SPDR(GLD)$   $标普500ETF(SPY)$   $纳指100ETF(QQQ)$  

$阿里巴巴-W(09988)$   $阿里巴巴(BABA)$   E-commerce is still soft, but cloud is clearly accelerating. Cloud +36%, profits -57%.

$扬子江船业(BS6.SI)$   Shipbuilding is quietly entering another cycle. Yangzijiang now has an order backlog of US$22.4bn, with shipyards fully booked until 2029. The order mix is also changing. About 80% of the orderbook now comes from clean-energy vessels such as LNG and dual-fuel ships. The investment story is quite simple: visibility of earnings + 5–6% dividend yield. Among SGX industrial companies, few have this level of order visibility.

$蔚来(NIO)$  $蔚来-SW(09866)$  $蔚来(NIO.SI)$   the profit was mainly driven by lower expenses, not a structural improvement in demand.

$携程网(TCOM)$   Trip.com’s latest numbers don’t show a slowdown. Revenue grew over 20%, with double-digit growth across hotels and tickets. International revenue is still up more than 60%.

$赛富时(CRM)$   The quarter was largely inline. Growth is still around 10%, and SaaS multiples remain compressed. The interesting part is AgentForce. ARR is up nearly 170%, with expansion mostly from existing customers.

$贝壳(BEKE)$   If you want a read on housing activity, watch Ke Holdings. Transactions look more stable, but not rebounding.

$亚马逊(AMZN)$   This quarter wasn’t about retail. AWS growth re-accelerated above 23%, with backlog rising alongside it. Retail supports margins, but AWS is driving growth again.

$谷歌(GOOG)$   This quarter wasn’t about the beat. AI is turning single searches into longer, decision-driven conversations. That’s what’s changing: the value of each search.

$LMS Compliance(LMS.SI)$   Latest institutional research highlights LMS Compliance (LMS.SI) as a high-value growth play. Key takeaways: Sticky Revenue: 85%+ recurring income with strong cash flow. ESG Catalyst: Primary beneficiary of mandatory ESG reporting in SG & MY starting 2025. Digital Edge: AI-driven platform creating a massive operational moat. @LMS SGX