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On May 11, the State Grid Corporation of China held a meeting. Zhang Zhigang, Party Secretary and Chairman of the Board, stated that enhancing basic research capabilities should be given greater prominence. This includes optimizing the systematic layout of basic research, further clarifying the main directions and key areas of basic research, promoting deep integration of industry, academia, research, and application, and strengthening the company's basic research discipline system. He also emphasized strengthening support and guarantees for basic research, increasing investment in basic research, constructing major scientific research infrastructure and intelligent scientific research platforms to high standards, and continuously deepening the reform of scientific research evaluation. Furthermore, he stressed strengthening the development of a basic research talent pool, promoting the integrated development of education, science, and technology talent, vigorously cultivating young backbone forces, strengthening the training of leading talents and strategic scientists, and fully respecting the pioneering spirit of grassroots workers.

Spanish energy technology company Turbo Energy SA is continuing to expand its AI-driven smart energy platform in Chile.

Saudi Aramco CEO Nasser: There is a supply gap of about 1 billion barrels of oil in the market.

Saudi Aramco CEO Nasser: In the first quarter, we produced an average of 12.6 million barrels of oil equivalent per day.

Artificial intelligence chip maker Cerebras Systems has filed for an initial public offering (IPO) to raise up to $4.8 billion.

Artificial intelligence chip maker Cerebras Systems will offer 30 million shares in its initial public offering (IPO), up from 28 million previously; it has raised its IPO pricing range to $150 to $160 per share, up from $115 to $125 per share previously.

Raytheon Technologies (RTX.N): Selected to provide the SeaRAM close-in weapon system for Australia's new frigates. Under this arrangement, Raytheon will be responsible for supplying the SeaRAM launchers and related technical services. Delivery is expected to begin at the end of 2028.

On May 11, TCL Electronics (01070.HK) announced a strategic cooperation agreement with Sony in the home entertainment sector, with the revised agreement setting a total exercise price cap of ¥100 billion (approximately HK$4.9 billion). This cooperation aims to strengthen synergies between the two companies in the home entertainment business and promote industry development. TCL Electronics will continue to fulfill its obligations under the transaction framework agreement to ensure the smooth progress of the cooperation.

Saudi Aramco CEO Nasser: The energy supply shock that began in the first quarter is the most severe in global history.

Market news: Nigeria’s Dangote Oil Refinery plans to seek an initial public offering valuation of $50 billion.

China Jinmao (00817.HK): In April 2026, the Company and its subsidiaries achieved contracted sales of RMB 8.806 billion, with a contracted sales area of 351,476.23 square meters.

On May 11th, deVere Group CEO Nigel Green stated in a report that rising political uncertainty in the UK, particularly regarding Prime Minister Starmer's potential resignation, is putting pressure on UK government bonds and the pound sterling. He noted that investors are "struggling to cope with uncertainty surrounding leadership, economic direction, and fiscal discipline." Starmer pledged to remain prime minister in a speech on Monday morning after his party suffered defeats in local elections.

According to reports, the Peruvian government has authorized its state-owned oil company, Petroperu, to receive up to $2 billion in financing.

Qualcomm (QCOM.O) shares rose more than 7% in pre-market trading.

Canada's national economic confidence index was 51 as of May 8, compared to 50 previously.

According to Sky News: British Labour MP Chris Curtis has called for British Prime Minister Starmer to resign.

On May 11th, *ST Zhengping announced that it had responded to a regulatory letter from the Shanghai Stock Exchange, addressing issues such as missing financial and business data, the risk of delisting due to negative net assets, and impairment of accounts receivable and contract assets. The company stated that there was no intentional damage, concealment, or fabrication of financial and business data, and that it has completed the collection, organization, and archiving of all project data. Regarding the risk of negative net assets, the company stated that it has fully considered the recoverability risks of long-term receivables and long-term unsettled contract assets, and that the relevant asset impairment provision ratio is higher than the industry average. The annual audit firm, Zhongruicheng Certified Public Accountants, issued its verification opinion on the relevant matters.

According to Russian media reports, Latvia is negotiating with the United States about sending additional troops to its territory after Washington decided to withdraw some of its troops from Germany.

Longfor Group (00960.HK): Contracted sales of RMB 2.89 billion in April, and cumulative contracted sales of RMB 10.35 billion from January to April.