United States | Singapore | Hong Kong | Earnings
First Solar, Inc. (FSLR US)
- Shares closed above the 5dEMA with elevated volume for the week.
- RSI is near overbought levels, but MACD is still constructive.
- Long – Entry 230, Target 280, Stop 205
Leonardo DRS, Inc (DRS US)
- Shares closed above the 5dEMA.
- RSI is constructive and MACD is about to turn positive.
- Long – Entry 42, Target 48, Stop 39
Global Testing Corporation Limited. (GTC SP)
- Shares closed above the 5dEMA with elevated volume.
- Both RSI and MACD are constructive.
- Buy – Entry 1.30, Target 1.60, Stop 1.15
CSE Global Limited. (CSE SP)
- Shares closed right below the 5dEMA with elevated volume.
- Both RSI and MACD are constructive.
- Buy – Entry 1.6, Target 1.8, Stop 1.5
China Coal Energy Co Ltd (1898 HK)
- Shares closed above the 10dEMA with rising volume.
- RSI is constructive, while MACD is negative.
- Long – Entry 12.8, Target 13.8, Stop 12.3
Yankuang Energy Group Co Ltd (1171 HK)
- Shares closed at the 20dEMA with rising volume.
- RSI is constructive, while MACD is about to turn positive.
- Long – Entry 14.8, Target 16.0, Stop 14.3
Baidu, Inc. (BIDU)
- 1Q26 Revenue: $4.65B, +4.0% YoY, in-line with estimates
- 1Q26 Non-GAAP EPADS: $1.75, beat estimates by $0.07
- FY26 Guidance: Management emphasized that AI is now the primary growth driver, with Baidu Core AI-powered business exceeding half of Baidu General Business revenue for the first time.
- Comment: This was a mixed quarter with a much stronger AI mix than the headline revenue line suggests. Total revenue declined slightly and online marketing revenue fell to RMB12.6B from RMB16.0B a year ago, reflecting continued weakness in China advertising demand. However, Baidu Core AI-powered business grew 49% YoY to RMB13.6B and now represents more than half of Baidu General Business revenue, which is the most important takeaway from the print. The key issue is the transition from legacy ads to AI-led growth. Profit fell sharply because of higher operating costs and foreign exchange losses, but the AI business is scaling fast enough to offset much of the advertising weakness. The market reaction was subdued, with only a slight move in the shares after the release, which suggests investors are waiting for clearer proof that AI growth can drive more durable earnings expansion. The principal variables to monitor are AI cloud growth, monetization of AI-native marketing services, stabilization in online advertising, and operating-margin progression as Baidu continues investing in AI infrastructure and applications. 2Q26 recommended trading range: $120 to $160. Neutral Outlook.
百度公司（BIDU)
- 26财年第一季度营收：46.5亿美元，同比增长4.0%，符合市场预期
- 26财年第一季度非公认会计准则每股美国存托股收益（EPADS）：1.75美元，超出预期0.07美元
- 26财年全年指引：管理层强调AI已成为核心增长引擎，百度核心AI驱动业务收入首次超过百度通用业务总收入的50%
- 短评：本季度表现混合，但AI转型进展远超顶层营收所显示的水平。总营收仅微增，线上营销收入同比下滑至126亿元人民币（去年同期160亿元），反映中国广告需求持续疲软。然而，百度核心AI驱动业务同比大增49%至136亿元人民币，并首次占通用业务收入过半，成为财报最关键亮点。当前核心挑战在于从传统广告向AI主导模式的战略过渡：尽管AI业务高速扩张有效对冲了广告下滑，但整体利润因运营成本上升及汇兑损失而显著承压。市场反应平淡，股价仅小幅波动，显示投资者仍在等待更明确证据——AI增长能否转化为可持续的盈利扩张。后续关键变量包括：（1）AI云业务增速；（2）AI原生营销服务的变现效率；（3）线上广告业务是否企稳；（4）在持续加码AI基础设施与应用投入下，运营利润率能否逐步改善。26财年第二季度建议交易区间：120美元至160美元。中性前景。
