Daily Buzz: 27 April 2026

Top News

Trump, Other Attendees at Black-Tie Event Safe After Shots Fired

US President Donald Trump, Vice President JD Vance and other Washington dignitaries were safely hustled out of a black-tie dinner by the Secret Service after a man opened fire at the event. Trump was attending the annual White House Correspondents' Dinner at the Washington Hilton. The perpetrator was identified as Cole Allen, a 31-year-old parttime teacher and video-game developer from California with longstanding grievances against the Trump administration. He was armed with multiple weapons and wrestled to the ground by security forces. A Secret Service official was shot but saved by his bullet-proof vest. Trump has been the target of two attempted assassinations in the past, and the Hilton featured in the 1981 attempted assassination of then president Ronald Reagan, who was shot as he emerged from the hotel after a speaking engagement.

US-Iran Peace Talk Hopes Unravel Again

President Donald Trump cancelled a planned trip by US envoys to Pakistan for talks on the Iran war after Iranian Foreign Minister Abbas Araghchi arrived in Islamabad, conferred with Pakistani mediators and then departed for Moscow. Trump said it would be a waste of time to send special envoy Steve Witkoff and son-in-law Jared Kushner to Pakistan, adding that if Iran wants to talk "all they have to do is call." A day earlier, plans to send the two envoys to Islamabad had raised hopes that a second round of peace talks might be possible after negotiations two weeks ago ended in failure. The US claims the government in Tehran is fractured and can't agree on a negotiating stance; Iran claimed the US isn't serious about negotiations. Meanwhile, a standoff in the Strait of Hormuz created by separate US and Iranian blockades continues. Benchmark Brent crude futures rose 2 percent when trading resumed in New York on Sunday evening, priced at US$107.54 a barrel.

Beijing Auto Show Focuses on Tech, Not Glitz

The 2026 Beijing Auto Show highlights a shift in China's auto industry, with technology and product innovation replacing glitzy marketing spectacle as the central focus. New models on show increasingly underscore the role of artificial intelligence in the development of automated and smart driving systems. Sidelined is the past emphasis on beautiful, sometimes scantily clad, women draped over new models and concept cars. The auto show also underscores a shift to quality from quantity and to system-level capability from cost competitiveness. Suppliers are taking a more prominent role, with major players such as chip maker Huawei and battery giant CATL moving into the main exhibition halls. Huawei introduced its 5.0 intelligent driving system and HarmonyOS cockpit, while CATL showcased innovations in battery safety and fast-charging technologies. Electric vehicle makers have stepped up computing power in the battle for customers. Li Auto unveiled a new flagship model equipped with super computing power, while XPeng and Nio highlighted deployment of proprietary AI chips. Foreign luxury brands are seeking to end a sales drain in China by exhibiting designs tailored for the mainland consumers, who are less focused on price and brand name nowadays, and more swayed by technological value and reliability.

Top Business

Shenhua Posts 11 Percent Decline in Profit

Shenhua Energy, China's largest coal producer, reported first-quarter profit fell 11 percent to 11.9 billion yuan (US$1.7 billion) on a 1.2 percent increase in revenue to 70.4 billion yuan. The company said it sold 103.2 million tons of coal, up 4 percent from a year earlier, with self-produced coal comprising 75 percent and purchases from other coal sources accounting for the rest. Cost of purchased coal rose, and gross profit margin fell to 22.6 percent from 25.5 percent. In its power-generation segment, Shenhua reported 55.9 billion kilowatts, most of it from coal-fired plants. The company is operating amid a national goal of reducing use of fossil fuels and going green. The company last year completed the 853-billion-yuan takeover of coal miner Hangjin Energy.

Goldwind Q1 Profit Surges on Turbine Sales

Goldwind Science & Technology, a leading global manufacturer of turbines for wind farms, reported first-quarter profit surged 60 percent from a year earlier to 907.2 million (US$133 million) on a 63.5 percent jump in operating revenue to 15.5 billion yuan on higher sales of turbines. Last year the company ranked first in the world in onshore wind turbines and second in offshore turbine manufacturing. The Beijing-based company said overseas sales surged 133 percent in the quarter and orders on hand at the end of the quarter, both domestic and overseas, totaled 53,935 megawatts, up 5.6 percent from the same three months a year earlier.

Moore Threads Swings to Q1 Profit

Shanghai-based Moore Threads, a maker of graphics processing units, said it turned to profit of 29 million yuan (US$4.2 million) in the first quarter from a year earlier loss of 112.5 million yuan, with revenue surging 155 percent to 738 million yuan on escalating demand for AI computing power. In its first earnings reports since listing last December, the company also reported a net loss of 1 billion yuan for 2025 despite a 243 percent surge in revenue to 1.5 billion yuan. The company said it spent 1.3 billion yuan on research and development last year. Moore Threads said it secured a 660-million-yuan order for its Kuae intelligent computing cluster in the first quarter of this year.

Economy & Markets

CATL Tops Mutual Fund Portfolios

Chinese battery giant Contemporary Amperex Technology (CATL) was the top equity holding in managed mutual funds in the first quarter of 2026, displacing fiber-optics supplier Zhongji Innolight. Data compiled by Wind show CATL was added by active funds after five consecutive quarters of reductions, with holdings rising by 11.8 million shares during the quarter. Chipmaker Hygon Information entered the top 10 list, replacing China Merchants Bank, and Zijin Mining had the largest sell-off, with holdings of 930 million shares pared.

Beijing Condemns EU Over China Entities in Russian Sanctions

China's commerce ministry rebuked the EU for including Chinese companies and individuals in its latest round of sanctions against Russia that target suppliers of certain advanced technologies. The ministry in a statement demanded their immediate removal from the list, saying their inclusion "seriously undermines mutual trust and the overall stability of bilateral relations." The rebuke came a day after the commerce ministry placed seven EU entities on its export-control list, banning shipments of dual-use items or services that can be used for both civilian and military uses.

Fuyao Glass Says US Plants to Close if Tensions Spur Losses

China-owned Fuyao Glass, stung years ago by an Oscar-winning documentary highlighting its labor problems operating in the US, warned that American factory facilities there will be shut down if trade friction and tariffs cause severe losses. At the company's annual general meeting, founder and Chairman Cao Dewang said his company is not in business to make losses. His remarks came after Fuyao announced a 16 percent decline in first-quarter profit and 5 percent increase in revenue. Fuyao Glass is one of the world's largest automotive glass manufacturers, employing thousands across the states of Ohio, Illinois and South Carolina. The company's revitalization of the depressed economy at one US site and Cao's harsh campaign against workers unionizing were scrutinized in the 2019 film "American Factory."

Corporate

Swiss food and beverage giant Nestlé confirmed rife market speculation that that it will sell its Blue Bottle Coffee unit to China's Centurium Capital, the largest shareholder of Luckin, Chinese largest coffee chain. Nestlé didn't give a figure for the sale, but some domestic media reports have estimated its value at US$400 million. Once the deal is completed, which is expected by the end of this year, Luckin Coffee and Blue Bottle Coffee will operate independently as two separate brands. Blue Bottle had about 40 stores globally last year.

Deepsal Flags Electric Car Sales for 2026

Deepsal, the electric car brand under Changan Auto, is aiming to sell 480,00 vehicles this year with about 70 percent of sales targeted for the domestic Chinese market and the rest overseas. Changan Chairman Deng Chenghao announced the targets at the Beijing auto show, Yicai reported.

Heihu Network Raises Investment Funds for AI Development

Shanghai-based Heihu Network Technology, a Chinese industrial software provider, secured nearly 1 billion yuan (US$146.5 million) in a recent fundraising round. The investment will be used to accelerate AI applications and expand overseas. The company's core products include production management software built on AI, big data and cloud computing. Heihu said it holds a majority of that market segment in China.