Tongtong Hong Kong Stocks Early Knowledge | U.S. Manned Lunar Mission Rocket Launch Successful International Energy Agency Director: April Oil Supply Gap Will Double That of March

【Today’s Toutiao】

**IEA Director:April oil supply gap to reach three times that of March

IEA Director Fatih Birol said in a podcast released on Wednesday that the agency is considering whether it needs to urgently release oil reserves again, and urged governments to take other energy-saving measures, such as rolling out remote work and lowering automobile speed limit standards.
In a program hosted by Nicolai Tangen, CEO of Norges Bank Investment Management, Birol said: “The situation in April will be much more severe than in March.” He said that in March, oil supply was relatively eased thanks to cargoes already en route before the outbreak of the Iran war. He added: “The oil supply gap in April will reach double that of March.”
Last month, including the United States, 32 IEA member countries released 400 million barrels of oil from emergency reserves to lower crude oil prices—its largest reserve drawdown in the agency’s history.
Birol said: “We are assessing market conditions at a frequency of even daily, or even hourly, to decide whether to take further intervention measures.”

【Market Outlook】

**U.S. stocks rose broadly overnight **Chip and memory concept stocks advance

As of the close overnight,
The Dow Jones Industrial Average rose 224.23 points from the previous trading day, closing at 46,565.74, up 0.48%; the S&P 500 stock index rose 46.8 points, closing at 6,575.32, up 0.72%; and the Nasdaq Composite rose 250.32 points, closing at 21,840.95, up 1.16%.

Chip and memory concept stocks rose. Western Digital rose by more than 10%, SanDisk rose by more than 9%, and Micron Technology and Intel rose by more than 8%. The aluminum sector generally rose. Affected by the shutdown of the Middle East’s largest aluminum company after being hit by missiles, Alcoa and Century Aluminum (share price hit an all-time high) rose by more than 8%. Nike’s share price fell 16% at the close, marking its largest single-day decline since June 2024.

Most popular China concept stocks closed higher. The Nasdaq China Golden Dragon Index rose 0.31%. Hang Seng Index ADRs increased; based on proportional calculation, they closed at 25,377.36 points, up 83.33 points, or 0.33%, from the close in Hong Kong.

On the New York Mercantile Exchange, the front-month continuous contract for WTI crude oil fell $2.47 to $98.91 per barrel, a decline of 2.44%. The front-month continuous COMEX gold futures contract rose $106.00, up 2.27%, to $4,784.6 per ounce.

【Spotlight Preview】

Iran vice speaker: “As of now, the supreme leader has not approved any negotiations”

According to Iran’s Fars News Agency on April 1, the Iranian Islamic Parliament’s deputy speaker Ali Nikzad gave a public speech at a public rally in Tafresh, Iran, on that day. He said that under the Iranian constitution, decisions on war, peace, and any negotiations fall within the authority of Iran’s supreme leader: “As of now, the supreme leader has not approved any negotiations.” Market reports: Multiple U.S. intelligence agencies recently assessed that the Iranian government currently has no intention to conduct substantive negotiations to end the conflict.

U.S. launches rocket for crewed mission around the Moon

In the evening of April 1 local time, NASA’s next-generation lunar rocket, the “Space Launch System,” lifted off from Kennedy Space Center in Florida to carry out the “Artemis 2” crewed mission around the Moon. This will be the first time the United States has sent a crew to the Moon since 1972.

Strategist: Long-term escalation of Middle East conflict puts global fertilizer supply at risk

An RBNZ strategist said in a research report that the long-term escalation of the Middle East conflict is putting global fertilizer supply at risk. These strategists said that the Middle East accounts for about 30% of global fertilizer trade and is also an important hub for natural gas exports, adding that transport disruptions in the region have begun to affect fertilizer supply. They said energy shocks are also affecting fertilizer production costs, because nitrogen fertilizers are natural gas-intensive products. They noted that fertilizer exporters such as China and Russia are implementing trade restrictions to ensure domestic supply, further tightening global supply. They added: “These disruptions will affect global food production, raising concerns about increased agricultural costs and losses in output.”

SpaceX reportedly has already filed for a listing

SpaceX, Musk’s company, has reportedly secretly submitted its IPO filing documents to the U.S. Securities and Exchange Commission (SEC), taking an important step toward potentially becoming the largest IPO in history. Sources familiar with the matter said that the satellite manufacturing and rocket launch company has filed for a listing in a confidential manner. Earlier reports said SpaceX plans to raise approximately $40 billion to $80 billion through an IPO, and the company’s target valuation could be $1.75 trillion.

CATL (03750) presents energy storage sodium-ion battery for the first time, expected to achieve commercialization within the year

On the 1st, CATL presented an energy storage sodium-ion battery for the first time. Its cycle life exceeds 15,000 times. The related energy storage products can cover large-scale energy storage and “intelligent computing center” energy storage application scenarios ranging from 2 hours to 8 hours, and are expected to achieve commercialization and deployment within the year. The sodium-ion batteries specifically for energy storage shown this time use a platform-based design with the same casing as the existing 587Ah lithium batteries, enabling system compatibility with both lithium and sodium batteries.

Chihuan Pharmaceutical (00460)** and Beiogene (02315)**** reach a strategic cooperation Accelerating multi-field innovative drug development such as weight loss through an AI-driven full human antibody R&D platform**

According to the Zhiyong Finance APP news, Chihuan Pharmaceutical released an announcement that the Group and Beiogene (Beijing) Pharmaceutical Technology Co., Ltd. have officially signed a strategic cooperation agreement. Under the principles of complementary strengths and professional coordination, the two parties will leverage the Group’s mature full-industry-chain experience in drug development, large-scale manufacturing, and commercialization, and combine Beiogene’s industry-leading core technology of an AI-driven full human antibody development platform. Together, they will carry out joint R&D of innovative drugs in multiple high-potential disease areas such as weight loss, establish a long-term stable, mutually beneficial, and win-win cooperation relationship, and jointly promote the R&D deployment and commercialization layout of globally cutting-edge innovative drugs.

China Everbright Water (01857): Secured two water projects in Jiangsu; business portfolio continues to be optimized; Yangtze River Delta layout deepens steadily

According to a Zhiyong Finance APP report, China Everbright Water released an announcement that, recently, China Everbright Water obtained two projects in Jiangsu: Phase 3 of the Huai’an Huaiyin Dongcheng wastewater treatment project (Huaiyin project) and Phase 1–Phase 2 turnkey contracting and entrusted operation (EPC+O) for the Jiangyin High-Tech Zone wastewater treatment plant (Jiangyin High-Tech plant). The consecutive delivery of the two projects marks a solid step for China Everbright Water in focusing on the core areas of the Yangtze River Delta and stepping up in the field of water environment treatment. It also highlights the company’s sense of responsibility as a leading environmental services provider to promote regional water environment governance and protection and to support high-quality regional development.

Kanglong Huacheng (03759): Formulation commercial production workshop put into operation secures orders from international big pharma; small-molecule CDMO gross margin is expected to improve

Kanglong Huacheng announced an investor relations activity record table. The company said that the construction of its formulation commercial production workshop in the second park in Beijing has been completed, and in the first quarter of 2026 it signed a strategic cooperation agreement with an international large pharmaceutical company, providing commercial production services for its first registered oral small-molecule GLP-1 receptor agonist. During the reporting period, the amount of newly signed orders grew by more than 14% year over year, the number of new customers exceeded 950, and active customers exceeded 3,300. Revenue from customers among the top 20 global pharmaceutical companies increased by 29.4% year over year. The small-molecule CDMO services cover 1,102 drug molecules or intermediates, including 34 projects at the process validation and commercialization stages and 47 Phase III clinical projects. As the revenue scale of the small-molecule CDMO segment grows and the project structure moves into later stages, the gross margin for small-molecule CDMO services is expected to improve year over year versus 2025. In 2026, the company will maintain steady growth; from the beginning of the year to date, newly signed orders have continued to show growth momentum, and revenue from clinical research services is expected to remain in growth.

Brain Digital Light-B (06681) becomes a strategic cooperation unit of Beijing Frontier Brain-Computer Interface Research Institute; working together to advance key clinical translation of brain-computer interface technologies

According to a Zhiyong Finance APP report, Brain Digital Light-B released an announcement that the Group has recently officially become a strategic cooperation unit of the Beijing Frontier Brain-Computer Interface Research Institute. On March 27, 2026, a subsidiary of the company, Zhejiang Brain Digital Light Medical Technology Co., Ltd., signed a strategic cooperation agreement on-site with the Beijing Frontier Brain-Computer Interface Research Institute.

【Stock Highlights】

Honest-B (02256): FGFR4 inhibitor irpagratinib (Irpagratinib/ABSK-011) granted orphan drug status by the EMA

Honest announced that its self-developed highly selective small-molecule FGFR4 inhibitor irpagratinib (Irpagratinib/ABSK-011) has obtained orphan drug designation (ODD) granted by the European Medicines Agency (EMA) for the treatment of hepatocellular carcinoma (HCC). At present, irpagratinib is conducting clinical studies in multiple regions worldwide. This time, the EMA’s grant of ODD will provide strong support for the product’s clinical development, registration submission, and commercialization process in Europe.

Public information shows that irpagratinib is a highly selective, oral small-molecule FGFR4 inhibitor independently developed by Honest Pharmaceutical. In addition to receiving EMA orphan drug status this time, irpagratinib previously also received orphan drug designation (ODD) and fast-track designation (FTD) from the U.S. Food and Drug Administration (FDA), as well as breakthrough therapy designation (BTD) from the National Medical Products Administration (NMPA) of China.