Key Announcements: Huanyu Communications (01003) plans to issue 731 million subscription shares to Fan Shi Zhineng (06682) and enter into a strategic cooperation and joint venture framework agreement. Shoucheng Holdings (00697) continues to increase investment through its fund to accelerate the evolution and deepen its layout in the embodied AI industry. Anbao Engineering Holdings (01627) has won a bid for a Hong Kong Tung Chung site at HK$1.627 billion, diversifying its business into real estate development. Youjia Chuangxin (02431) signs an agreement for the procurement and long-term cooperation of unmanned logistics vehicles. Yiming Angke-B (01541): The first patient has been dosed in the Phase II randomized, placebo-controlled trial of IMM0306 for the treatment of SLE.

Operational Performance: ZTO Express-W (02057) reported a Q1 net profit of RMB 2.1564 billion, a year-on-year increase of 5.7%, with parcel volume growing by 13.2% year-on-year. Bilibili-W (09626) saw a 62% year-on-year increase in adjusted net profit for Q1, with gross margin rising for the 15th consecutive quarter and monthly active users surpassing 376 million. SF Holding (06936) reported April revenue from express logistics, supply chain, and international business of RMB 25.376 billion, a year-on-year increase of 6.11%. KE Holdings-W (02423) released its Q1 results, with adjusted net profit reaching RMB 1.611 billion, a year-on-year increase of 15.7%. Hesai-W (02525) reported a Q1 net profit of RMB 18.3 million, achieving significant progress in both scale growth and profitability.