Next week's blockbuster schedule: the United Nations Climate Change Conference, Huawei's Zhijie S7 press conference, and Pinduoduo's financial reports are here

The week of November 27th to December 1st has a lot to watch:

In terms of major events, the 28th United Nations Climate Change Conference will be held in Dubai from November 30 to December 12, and will take stock of the progress made by countries around the world in achieving the goals of the Paris Agreement for the first time, the Zhijie S7 and Huawei all-scenario conference will be held in Shanghai on November 28, which is expected to showcase Huawei's many black technologies, and the 2023 Artificial Intelligence Computing Conference (AICC) will open in Beijing.

In terms of blockbuster data, China will release its official PMI for November, the Eurozone will release its November CPI, and the US will release the PCE price index.

At the same time, companies such as Pinduoduo and Meituan will close the earnings season for Chinese concept stocks.

A list of the major financial events of the week from November 27 to December 1, the following are Beijing time:

COP28 will be held in Dubai from November 30 to December 12

The United Nations Climate Change Conference in Dubai, United Arab Emirates, scheduled to take place from November 30 to December 12, will provide the first stocktaking of the progress made by countries around the world in meeting the goals of the Paris Agreement.

The latest report from the United Nations Framework Convention on Climate Change (UNFCCC) states that global greenhouse gas emissions are expected to be just 2% lower by 2030 than in 2019 if the latest nationally determined contributions submitted by countries are implemented. According to scientific research by the United Nations Intergovernmental Panel on Climate Change, greenhouse gas emissions must be reduced by 43% by 2030 compared to 2019 to meet the goal of limiting temperature rise to 1.5 degrees Celsius by the end of this century.

2023 Artificial Intelligence Computing Conference AICC

On November 29, the 2023 Artificial Intelligence Computing Conference (AICC) will open in Beijing. With the theme of "Intelligent Computing Power is Innovation", this year's AICC set up 1 main forum, 6 theme forums, and a 1500㎡ real-life AI innovation and technology exhibition to showcase the most cutting-edge technological innovation and implementation trends in the era of intelligent computing.

At present, the rapid evolution of intelligent computing technology and applications has led to a new round of profound changes in technology and industry. Focusing on hot topics such as intelligent computing infrastructure, generative AI and large model technology, and industrial digital and intelligent transformation, this conference will gather government leaders, scholars and experts, industry leaders, representatives of international organizations and technological innovation pioneers.

China's official PMI for November

On Thursday, China will release its manufacturing PMI data for November.

Previous data showed that China's manufacturing PMI fell back to 49.5 again due to public holidays after warming to 50.2 in September.

The new orders index, employment and raw material inventory indices all declined, reflecting the current decline in demand in the manufacturing market. The services PMI fell back to 50.6 in October and 51.7 in September, falling from a high of 58.2 since March this year, showing the urgency of boosting domestic demand.

The market is optimistic about the November PMI data, with the official manufacturing PMI expected to pick up to 49.8 and the services PMI expected to pick up to 51.3.

Pinduoduo's financial report

Pinduoduo will announce its results before the U.S. stock market on November 28. Analysts expect Pinduoduo's Q3 revenue to reach 54.83 billion yuan, up 55% year-on-year, and adjusted net profit to reach 13.06 billion yuan, up 5% year-on-year. Recently, a total of 39 analysts have given a "buy" rating or above, with an average price target of $125.31.

In addition, TipRanks data shows that looking back at Pinduoduo's performance in the past eight quarters, six quarters have exceeded market expectations, and the average stock price change after the earnings announcement is 15.2%, and the probability of the stock price rising on the day is high.

At present, in the first two quarters of this year, Pinduoduo's performance exceeded market expectations, and after the release of the financial report, it rose by 15.43% and 18.99% respectively. If Pinduoduo's quarterly performance beats expectations again, it is expected to continue the money-making effect.

Looking back at Q2 2023, due to the recovery of consumption and effective promotional strategies, Pinduoduo's revenue achieved double-digit high growth, with transaction service revenue increasing by 131% year-on-year, but Temu's global expansion brought sales and marketing spending up 55% year-on-year.

For this quarter, the market paid more attention to its net profit performance and Temu's specific data.

Goldman Sachs previously noted in a report that Temu's rapid rise in popularity is due to the company's increased marketing investment, low prices, emphasis on promotions, and the success of referral campaigns, and Temu is expected to increase in the number of active users and orders.

UBS also said that the strong cash flow generated by its domestic market business and the incremental profits from community group buying could support Temu's rapid overseas expansion.

Huawei will hold the Zhijie S7 and all-scenario press conference on November 28

The Zhijie S7 and Huawei all-scenario conference will be held in Shanghai on November 28.

According to Huawei, as its first car, Zhijie S7 has a range of more than 800 kilometers, and is equipped with Huawei Turing intelligent chassis, in the state of unmanned driving, Zhijie S7 can skillfully complete a series of operations such as giving way to pedestrians, reversing avoidance, extreme car, automatic parking, and automatic pick-up.

During the 2023 Guangzhou Auto Show, Yu Chengdong, chairman of Huawei's intelligent vehicle solution BU, announced that the Zhijie S7 will debut a number of Huawei's black technologies, and its technical capabilities are at least one generation ahead of the entire industry.

Apple will host a headset developer experience day in Shanghai on November 28

Apple previously announced that it will hold an Apple Vision Pro developer lab event for headsets in Shanghai from November 28th to November 30th. Developers will be able to experience visionOS, iPad OS, or iOS apps running on the Apple Vision Pro.

Apple's headset is scheduled to go on sale in the U.S. early next year. Before the actual sale, Apple will hold developer experience events in New York, Shanghai, Singapore, London and other places to further improve the software ecosystem of the headset.

Eurozone CPI (November).

Eurozone headline CPI fell to 2.9% year-on-year in October from 4.3% in the previous month. While some ECB policymakers have stressed that they expect interest rates to rise further, investors are betting that the ECB could be the first major central bank to cut rates as inflation continues to fall, possibly as early as the first quarter of next year.

The eurozone has hit its lowest level since August 2021 in October. The market expects Eurozone CPI to slow to 2.8% YoY in November, and core CPI is expected to slow to 3.9% YoY, compared to 4.2% in the previous month.

US October PCE

The October CPI data released earlier this month slowed more than expected, and market bets on the Federal Reserve's December rate hike were sharply tapered. If the US core PCE (the Fed's preferred inflation gauge) released on Thursday continues to slow, it may be difficult for the Fed to maintain its previous insistence that it does not rule out further rate hikes next year, as well as the possibility of a rate cut next year.

Core PCE in the United States rose 3.7% year-on-year in September, the second consecutive month of slowdown. The market expects core PCE to slow to 3.5% y/y in October. Personal spending is expected to slow to 0.2% m/m in October, compared to 0.7% in the previous month.

Other blockbuster events, figures and earnings

Tesla Cybertruck deliveries, possibly only 10 units

On November 30, local time, the Cybertruck, which has experienced many bounces, will deliver the first batch of production vehicles, but the number of deliveries is not expected to be too much.

At an event in Mexico this week, Javier Verdura, Tesla's director of global product design, said the first deliveries of the Cybertruck could be as few as 10.

Vidura gave a keynote speech in Monterrey in which he praised Tesla's success over the years and predicted that electric vehicles will begin to overtake gasoline-powered cars around 2026, Mexican state newspaper Milenio reported last Friday. But he also said that the first batch of only 10 Cybertrucks will be delivered at the Cybertruck Delivery Day event in Texas on Nov. 30.

China Eastern Airlines operates flights from Jinan to Sydney and Lanzhou to Bangkok

From November 27, 2023, China Eastern Airlines will launch a new "Jinan-Sydney" round-trip direct flight, which is scheduled to operate three times a week: the outbound journey is Monday, Thursday and Saturday, and the return journey is Tuesday, Friday and Sunday. China Eastern Airlines' direct flight from Lanzhou to Bangkok will debut on November 30, with the outbound journey every Tuesday, Thursday and Saturday, and the return flight every Wednesday, Friday and Sunday (from December 1).

The direct international route from Chongqing to Paris will resume operation

Hainan Airlines will officially resume direct international flights from Chongqing to Paris on November 28, with the first flight departing from Chongqing Jiangbei International Airport at 02:30 Beijing time on November 28 and arriving at Paris Charles de Gaulle International Airport on November 28, Paris time.

SZSE Dividend 300 Index and SZSE Repo Index were released

Shenzhen Securities Information Co., Ltd. is scheduled to release the SZSE Dividend 300 Index and SZSE Repurchase Index on November 28, 2023. According to the announcement of Shenzhen Securities Information Co., Ltd., the SZSE Dividend 300 Index reflects the changes in the stock prices of listed companies with a high dividend level and greater dividend growth potential in the Shenzhen Stock Exchange, and selects the top 300 comprehensive rankings of dividend growth rate and undistributed profit proportion among the top Shenzhen A-shares in the past three years in terms of cash dividend yield as index samples.

The amendments to the business rules for urea and soda ash futures came into force

The amendments to the Urea Futures Business Rules of the Zhengzhou Commodity Exchange and the Business Rules of the Soda Ash Futures of the Zhengzhou Commodity Exchange will come into force on November 27, 2023. The amendments apply to urea futures 2402 and subsequent contracts and soda ash futures 2406 and subsequent contracts.

Make a new reminder

On Monday, Aisen shares were subscribed, on Wednesday, COSCO Tong subscribed, and on Thursday, Yongda shares were subscribed.