Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>TOP STORIES Analysis: How Active ETFs Will Reshape Asset Management in China China’s exchange-traded fund (ETF) market is at a critical inflection point.</li><li>After peaking at over 6 trillion yuan ($840 billion) in late 2025, the industry is expanding beyond passive index tracking into active management.</li><li>In Depth: Thai Buddhist Amulets Draw China’s Anxious Young — and Laundering Networks Young Chinese facing a bruising job market, income anxiety, romantic setbacks and difficult odds of starting a business are looking for quick ways to improve their fortunes.</li></ul>

TOP STORIES Analysis: How Active ETFs Will Reshape Asset Management in China China’s exchange-traded fund (ETF) market is at a critical inflection point.After peaking at over 6 trillion yuan ($840 billion) in late 2025, the industry is expanding beyond passive index tracking into active management.In Depth: Thai Buddhist Amulets Draw China’s Anxious Young — and Laundering Networks Young Chinese facing a bruising job market, income anxiety, romantic setbacks and difficult odds of starting a business are looking for quick ways to improve their fortunes.

CX Daily: How Active ETFs Will Reshape Asset Management in China 

<ul><li>TOP STORIES Cover Story: Europe Fortifies Against China’s New Export Juggernaut A blistering summer heatwave has emptied European store shelves of Chinese portable air conditioners.</li><li>While the trade of these home appliances flows unimpeded, a contentious battle is sweeping the continent over the aggressive expansion of Chinese advanced manufacturing and e-commerce into the European Union (EU).</li><li>FINANCE &amp; ECONOMY China Deploys ‘National Team’ in Multi-Pronged Stock Market Rescue China is orchestrating a coordinated rescue of its plunging stock market, mobilizing state-backed entities to inject billions of dollars to shore up investor confidence.</li></ul>

TOP STORIES Cover Story: Europe Fortifies Against China’s New Export Juggernaut A blistering summer heatwave has emptied European store shelves of Chinese portable air conditioners.While the trade of these home appliances flows unimpeded, a contentious battle is sweeping the continent over the aggressive expansion of Chinese advanced manufacturing and e-commerce into the European Union (EU).FINANCE &amp; ECONOMY China Deploys ‘National Team’ in Multi-Pronged Stock Market Rescue China is orchestrating a coordinated rescue of its plunging stock market, mobilizing state-backed entities to inject billions of dollars to shore up investor confidence.

CX Daily: Europe Fortifies Against China’s New Export Juggernaut 

AI and Energy Infrastructure, Explained Plainly, The Physical Layer

The Physical Layer

AI and Energy Infrastructure, Explained Plainly

A journal on the physical constraints behind the AI buildout: power, grid connection, data centres, cooling and the supply chains that gate them. Written to be understood by anyone.

Equity Bottom-Up

<ul><li>Lumentum makes the tiny lasers that turn data into light, so AI chips can talk to each other across a data centre.</li><li>Those lasers have to be grown on a fragile crystal that only a few factories in the world can work at volume, and demand is running well ahead of supply.</li><li>That is why Nvidia, a chip company, paid $2 billion to make sure Lumentum builds more of them.</li></ul>

Lumentum makes the tiny lasers that turn data into light, so AI chips can talk to each other across a data centre.Those lasers have to be grown on a fragile crystal that only a few factories in the world can work at volume, and demand is running well ahead of supply.That is why Nvidia, a chip company, paid $2 billion to make sure Lumentum builds more of them.

Nvidia paid Lumentum $2 billion for lasers, because silicon cannot make light

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>Nvidia released FY3Q24 results with quarterly revenue at US$18.1bn, up 34% QoQ and 206% YoY. GPM was 74.0%, up 3.9ppts QoQ.</li><li>Net profit was US$9.2bn, up 50% QoQ and 1,274% YoY.</li><li>According to the company’s guidance, 4Q24 revenue is expected to reach US$20bn (+/-2%), implying 10% QoQ and 231% YoY growth; GAAP GPM is expected to increase to 74.5% (+/- 50bps). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Nvidia released FY3Q24 results with quarterly revenue at US$18.1bn, up 34% QoQ and 206% YoY. GPM was 74.0%, up 3.9ppts QoQ.Net profit was US$9.2bn, up 50% QoQ and 1,274% YoY.According to the company’s guidance, 4Q24 revenue is expected to reach US$20bn (+/-2%), implying 10% QoQ and 231% YoY growth; GAAP GPM is expected to increase to 74.5% (+/- 50bps). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Innolight has released its 3Q23 results, with resilient growth in both revenue/NP at 14.9%/89.5% YoY and 39.7%/88.4% QoQ, respectively.</li><li>The strong revenue growth was driven by substantial global demand for 400G and 800G optical transceivers.</li><li>Notably, the Company's gross margin showed consistent improvement across the first three quarters of 2023, climbing from 29.5%/31.1% in 1Q/2Q to 33.5% in 3Q. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Innolight has released its 3Q23 results, with resilient growth in both revenue/NP at 14.9%/89.5% YoY and 39.7%/88.4% QoQ, respectively.The strong revenue growth was driven by substantial global demand for 400G and 800G optical transceivers.Notably, the Company's gross margin showed consistent improvement across the first three quarters of 2023, climbing from 29.5%/31.1% in 1Q/2Q to 33.5% in 3Q. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Innolight (300308 CH) – Strong 3Q Results on Accelerating AI Revenue

China

Zhongji Innolight Co., Ltd. manufactures and distributes industrial machines and machine parts. The Company produces motor stator windings, insulating machines, coil winding equipment, automatic production lines, and more. Zhongji Innolight mainly conducts businesses domestically.

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Zhongji Innolight (300308 CH)

CX Daily: How Active ETFs Will Reshape Asset Management in China

TOP STORIES Analysis: How Active ETFs Will Reshape Asset Management in China China’s exchange-traded fund (ETF) market is at a critical inflection...

Caixin Global

CX Daily: Europe Fortifies Against China’s New Export Juggernaut

TOP STORIES Cover Story: Europe Fortifies Against China’s New Export Juggernaut A blistering summer heatwave has emptied European store shelves of...

Caixin Global

Nvidia paid Lumentum $2 billion for lasers, because silicon cannot make light

Lumentum makes the tiny lasers that turn data into light, so AI chips can talk to each other across a data centre. Those lasers have to be grown...

The Physical Layer

Technology (Hardware/Semi) - 23 Nov 2023

Nvidia released FY3Q24 results with quarterly revenue at US$18.1bn, up 34% QoQ and 206% YoY. GPM was 74.0%, up 3.9ppts QoQ. Net profit was...

CMB International

Innolight (300308 CH) – Strong 3Q Results on Accelerating AI Revenue

nnolight has released its 3Q23 results, with resilient growth in both revenue/NP at 14.9%/89.5% YoY and 39.7%/88.4% QoQ, respectively.

CMB International

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