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On March 18th, Chery Automobile (09973.HK) announced that its revenue for 2025 will reach RMB 300.287 billion, a year-on-year increase of 11.3%; net profit for the year will be RMB 19.507 billion, a year-on-year increase of 36.1%; and net profit margin will be 6.5%, compared to 5.3% in the same period last year. The Board of Directors has resolved to recommend a final cash dividend of RMB 0.86 per share (inclusive of tax) for the current year.Geely Automobile (00175.HK): Sales target for 2026 is 3.45 million vehicles.Geely Automobile (00175.HK) expects its full-year revenue in 2025 to be RMB 345.23 billion, compared with RMB 240.2 billion in the same period of the previous year.March 18th - Geely Automobile (00175.HK) announced that its sales volume for 2025 will reach 3.0246 million vehicles, a year-on-year increase of 39%; revenue will reach RMB 345.232 billion, a year-on-year increase of 25%. Profit attributable to owners of the parent company will be RMB 16.852 billion, basically flat compared to last year. The board of directors recommends a final dividend of HKD 0.50 per ordinary share, a year-on-year increase of 52%.On March 18th, the Department of Energy Conservation and Comprehensive Utilization of the Ministry of Industry and Information Technology (MIIT) convened a symposium on the comprehensive utilization of waste tires on March 17th, 2026. Representatives from relevant industry associations, research institutions, and key enterprises attended the meeting. At the meeting, participants focused on tire retreading, recycled rubber, rubber powder, and pyrolysis, introducing the current domestic and international development status of the waste tire comprehensive utilization industry, the innovative application of process technology and equipment, digital transformation, the construction of standard systems, and the promotion and application of recycled products. They analyzed and assessed the opportunities and challenges facing the industrys development during the 15th Five-Year Plan period and proposed policy recommendations to promote the high-quality development of waste tire comprehensive utilization in my country. Next, the Department of Energy Conservation and Comprehensive Utilization will conduct in-depth research on the waste tire comprehensive utilization industry, further strengthen policy guidance, improve relevant standard systems, strengthen industry regulation and management, increase the promotion and application of advanced technologies, and continuously improve the level of waste tire comprehensive utilization.

Is Bitcoin Developing a Reversal Similar to Stocks?

Daniel Rogers

May 30, 2022 16:56

Bitcoin, Alternatives to Bitcoin, and Indicators 

Bitcoin has decreased by 2.5% over the past week, closing near $29,200. Ethereum lost 10.6%, while other prominent altcoins in the top ten plummeted between 1% (Polkadot) and 14.8%. (Solana). According to CoinMarketCap, the entire market capitalization for cryptocurrencies decreased by 2.4% during the past week to $1.26 trillion. The Bitcoin dominance index increased by 1.3 points to 44.9 percent over the same time period due to the first cryptocurrency's improved performance.

 

By Monday, the cryptocurrency fear and greed index had decreased to 10 points. However, this decline does not account for Monday's early-morning market performance. Bitcoin has finished lower for eight consecutive weeks, representing the longest selling streak in the history of the first cryptocurrency. However, the dips over the past two weeks have been fairly tentative.

 

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Analysis of Bitcoin Technical Data

BTCUSD again broke the $30,000 threshold on Monday morning and returned to last week's highs, breaking over the downside resistance line in a robust surge. It is premature to discuss a bullish counteroffensive until Bitcoin breaks above its horizontal resistance line since mid-May, which is $30.6K. Renewed risk appetite on the global markets fuels optimism for a comeback. The dynamics of equities and cryptocurrencies diverged significantly last week, illustrating the crypto market's weakness.

Bitcoin as a Potential Investment

As institutional players have entered the market in recent years and enhanced market liquidity, Dan Held, director of business development at crypto exchange Kraken, feels the current crypto crisis is not as bad as past ones. We would add that, due to the increased crypto market capacity, the bull cycle of 2021 has not witnessed as big of a spike as it did in 2013 and 2017, which explains the relatively low 'winter' losses. Michael Saylor, the CEO of MicroStrategy, stated he will always purchase bitcoin.

 

According to him, Bitcoin is the most stable asset in the current chaotic global economy. Bill Miller, the head of the investment firm Miller Value Partners, referred to bitcoin as an efficient method for gaining access to financial services regardless of military or economic conditions.

 

According to Deutsche Bank, regulation of cryptocurrencies would alleviate the turmoil on the crypto market.

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