On April 20, Tianqi Lithium Corporation released its performance forecast for the first quarter of 2026. The company expects its first-quarter performance to show a significant year-on-year increase, with net profit attributable to shareholders of the listed company ranging from 1.7 billion yuan to 2.0 billion yuan, a year-on-year increase of 1530.31% to 1818.01%. On the one hand, benefiting from the development of the new energy industry and growth in downstream demand, the company's operating revenue for the first quarter increased significantly compared to the same period last year. On the other hand, the company's investment income from its associate SQM increased significantly year-on-year.

On April 10, Shenzhen Capchem Technology Co., Ltd. released its performance forecast for the first quarter of 2026. The announcement shows that for the period from January 1 to March 31, 2026, the company expects a net profit attributable to shareholders of the listed company of 460 million yuan to 500 million yuan, representing a year-on-year increase of 100.11% to 117.51% compared to 229.8775 million yuan in the same period last year; the net profit after deducting non-recurring gains and losses is expected to be 449.28 million yuan to 489.28 million yuan, a year-on-year increase of 102.48% to 120.51%.

Tianshan Aluminum (002532) released its performance forecast on March 29, projecting a net profit attributable to shareholders of 2.2 billion yuan for the first quarter of 2026, representing a year-on-year increase of 107.92%. The main reasons for the company's performance growth are: the partial commissioning of capacity from the 1.4 million-ton electrolytic aluminum green and low-carbon energy efficiency improvement project, resulting in a year-on-year increase of approximately 10% in electrolytic aluminum production and sales; simultaneously, the sales price of electrolytic aluminum products increased by approximately 17% year-on-year, while production costs were effectively controlled and decreased year-on-year, resulting in a synergistic effect of increased volume and price.

Shenghe Resources Holding Co., Ltd. (600392.SH) disclosed its 2025 annual performance forecast, expecting net profit attributable to owners of the parent company to be 790 million–910 million yuan for the full year of 2025, an increase of 582.8035 million–702.8035 million yuan compared with the same period last year, up 281.28%–339.20% YoY.

Beijing Zhong Ke San Huan High Technology Co., Ltd. disclosed its performance forecast. The company expects to achieve a net profit attributable to shareholders of the publicly listed firm of 80 million to 120 million yuan in 2025, an increase of 566.23% to 899.35% compared with the same period last year.

Recently, Shan Shan Co., Ltd. released a 2025 performance forecast indicating a turnaround to profit, with full-year net profit attributable to shareholders of the publicly listed firm expected to reach 400 million to 600 million yuan, successfully reversing the loss compared to 2024. The net profit after deducting non-recurring gains and losses is projected to be 300 million to 450 million yuan, demonstrating strong growth in the core business operations.

Recently, Gotion High-tech released its performance forecast for the fiscal year 2025. The forecast indicates that during the period from January 1 to December 31, 2025, the company's net profit attributable to shareholders of the listed company is expected to be between 2.5 billion yuan and 3 billion yuan, representing a year-on-year increase of 107.16% to 148.59% compared to 1.207 billion yuan in the same period last year. The net profit after deducting non-recurring gains and losses is projected to be between 350 million yuan and 450 million yuan, a year-on-year increase of 33.31% to 71.40%.

On 30 January, Baichuan Changyin (300614) released its 2025 performance forecast, reporting that during the reporting period, the company suspended investment in the Zhejiang Deqing heterojunction cell photovoltaic project and proactively optimised its R&D strategic layout, postponing the advancement of the pilot line for the Shanghai heterojunction cell photovoltaic R&D project.

As Trump's tariff policy fluctuated repeatedly, after European and American automakers suffered setbacks, Japanese automakers' performance also collapsed. Japanese automakers Honda and Nissan both reported financial results on Tuesday that fell short of expectations. Honda, affected by tariffs, saw its Q4 operating profit plummet by over 70% YoY, with a 12.2% decline in operating profit and a 24.5% drop in net profit for the full year. Honda also adopted a relatively pessimistic outlook for the future, projecting that its operating profit, net profit, and revenue for the fiscal year 2026 will decline by nearly 59%, 70.1%, and 6.4% YoY, respectively. Nissan, on the other hand, announced that due to tariff impacts, it has decided not to release its operating profit forecast for the fiscal year ending March 2026, and will close some production plants, planning to lay off 20,000 employees by the fiscal year 2027. Meanwhile, Nissan replaced most of its senior management and appointed a new CEO. In addition, Toyota expects its operating income to decrease by 180 billion yen in just two months, while Mazda has not released its full-year performance forecast and warned that it may face a loss of 10 billion yen in April alone. According to CCTV News, the US previously imposed a 25% tariff on imported auto parts. The global automotive industry has already been widely affected by tariffs. In addition to Japanese automakers, European automakers such as Germany's Mercedes-Benz Group and Stellantis have withdrawn their performance guidance for this year, citing tariffs that have disrupted supply chains and driven up global auto prices. Mercedes-Benz stated that the uncertainties brought about by tariffs are too high to reliably assess this year's business development. Other companies have warned of significant financial losses . US automakers such as General Motors, facing tariff exposure of up to $5 billion, have significantly lowered their profit forecasts, while Ford Motor Company expects to incur annual losses of $1.5 billion. Honda's Q4 operating profit plummeted by over 70% YoY On Tuesday, May 13, Japanese automotive giant Honda reported its fourth-quarter and full-year performance for the period ending March 31. Q4 revenue: 5.36 trillion yen (approximately $4.726 billion), in line with the expected 5.36 trillion yen. Q4 operating profit: 73.5 billion yen, far below the expected 275.52 billion yen. Full-year revenue: increased by 6.2% YoY to 21.69 trillion yen, higher than the expected 21.63 trillion yen. Full-year operating profit: decreased by 12.2% YoY to 1.21 trillion yen, below the expected 1.41 trillion yen. Full-year net profit: decreased by 24.5% YoY to 835.84 billion yen. Performance guidance for 2026: Operating profit: It is expected that the full-year operating profit will decline by nearly 59% YoY to 500 billion yen. Net profit: Down 70.1% YoY to JPY 250 billion. Operating revenue: Down 6.4% YoY to JPY 20.3 trillion. Honda's financial results were released amid escalating trade tensions between the US and the world, with the US imposing a 25% tariff on foreign car imports. Honda's operating profit and net profit both fell sharply YoY. To avoid tariffs, Honda decided in March this year to shift the production location of its popular car model, the Civic Hybrid, from Mexico to the US. In addition, Honda is pessimistic about its future performance outlook, having revised down almost all financial indicators for the fiscal year ending March 2026. It expects operating profit to fall nearly 59% YoY, net profit to drop 70.1% YoY, and revenue to decline 6.4% YoY for the full year. According to data from Carpro, a US automotive market research firm, in 2024, Asian automakers accounted for six of the top eight car producers by sales volume in the US, with Honda ranking fourth. As Japan's second-largest car maker, Honda stated that the impact of global tariff policies will have a very significant effect on its business, and frequent policy adjustments make it difficult for Honda to make accurate forecasts. In its report, Honda said: "In the future, we will carefully assess the impact of tariff policies and expand recovery measures while striving to achieve further growth in operating profit." In addition, Honda also adjusted its dividend policy, changing the dividend payout ratio from the traditional payout rate to "equity dividends." It expects the dividend per share for the current fiscal year to increase by JPY 2 to JPY 70 per share. In terms of M&A, in February, Honda and its rival Nissan terminated negotiations on a USD 60 billion merger deal. If successful, the merger would have created the world's third-largest car maker, after Toyota and Volkswagen. Nissan to cut 15% of global workforce On the same day, Nissan Motor Co., Ltd. released its Q4 and full-year results for the period ending March 31. Full-year results: Full-year operating profit: JPY 133.71 billion (vs. estimated JPY 138.5 billion); Operating profit in Asia (excluding Japan): JPY 57.27 billion (vs. estimated JPY 52.29 billion); Operating loss in North America: JPY 38.32 billion (vs. estimated profit of JPY 2.45 billion); Operating loss in Europe: JPY 98.77 billion (vs. estimated loss of JPY 91.25 billion). Q4 results: Operating profit: JPY 5.79 billion (vs. estimated JPY 45.71 billion); Net loss: JPY 676.05 billion (approximately USD 4.6 billion) (vs. estimated loss of JPY 128.85 billion); Net sales: JPY 3.49 trillion (vs. estimated JPY 3.27 trillion); 2026 performance guidance: Expected net sales: JPY 12.50 trillion (vs. estimated JPY 12.31 trillion); Expected dividend: JPY 0.0 (vs. estimated JPY 7.70). Global auto sales for the full year are expected to reach 3.25 million units. In its earnings report released on Tuesday, Nissan stated that it had decided not to issue an operating profit forecast for the fiscal year ending March 2026 . Additionally, Nissan announced plans to reduce the number of its production plants from 17 to 10 by fiscal 2027 and to cut approximately 15% of its global workforce, or about 20,000 employees. This means that on top of the 9,000 job cuts announced in November last year, an additional 11,000 employees will be laid off. The struggling Japanese automaker is striving to turn the tide, but due to its aging car models failing to attract consumers, Nissan has begun laying off staff, reducing production capacity, and replacing most of its senior management, including appointing a new CEO, Ivan Espinosa. After taking over as CEO, Espinosa has started implementing more decisive measures than his predecessor, Makoto Uchida, who was criticized for not being proactive enough in implementing layoffs and production cuts. Furthermore, Nissan's merger plans with Honda failed earlier this year, leaving Nissan in urgent need of finding new partners. The pressure to revive Nissan is immense, especially after the breakdown of merger talks, making the search for a "savior" even more complex. Hon Hai Precision Industry Co., Ltd. (Foxconn) was once a potential partner. Liu Young-way, Chairman of Foxconn, stated in February that Foxconn had approached both Nissan and Honda during their merger discussions, proposing possible cooperation. As the manufacturer of the iPhone, Foxconn has clearly expressed its intention to assemble EVs for Japanese automakers and signed an agreement with Mitsubishi Motors earlier this month to jointly produce EVs. However, Nissan's restructuring efforts face even greater challenges, particularly the potential impact of 450 billion yen from US tariffs on imported cars and parts, further exacerbating the company's difficulties.

India Proposes Zero Tariffs on Certain Quantities of US Auto Parts and Steel In trade negotiations with the US, India proposed zero tariffs on certain quantities of steel, auto parts, and pharmaceuticals on a reciprocal basis. (Cailian Press) Tariff Policy to Drive Up Prices of New and Used Cars in the US, Repair Costs Also to Increase The New York Times reported on the 3rd that the US's 25% tariff on imported auto parts could significantly raise the prices of new and used cars, as well as repair and insurance costs. The report stated that tariffs on imported auto parts would have a broad impact, as even cars made in the US often have engines, transmissions, batteries, and other components produced in other countries. Trump's tariff policy has already driven up new car prices, as consumers rushed to dealers to buy cars before the tariffs took effect. The tariff policy has also affected the used car market, as more people are seeking affordable alternatives to new cars, increasing demand and prices. Tariffs on auto parts are expected to raise repair costs and insurance premiums, as replacing auto parts will become more expensive. Rising car prices will exacerbate inflation. (Cailian Press) US Tariff Policy Disrupts Domestic Companies, Several US Firms Suspend Profit Forecasts According to CNN on May 4, due to the erratic nature of recent US tariff policies, several major global automakers have delayed or suspended profit forecasts. The report stated that automaker Stellantis Group released a report on April 30, indicating that it has suspended its 2025 profit growth forecast due to the impact of "changing" tariff policies. Previously, General Motors also issued a statement on April 29, withdrawing its 2025 profit growth expectations due to the potential impact of US tariff policies. (Cailian Press) BYD: NEV Sales Reach 1.3809 Million Units in the First Four Months, Up 46.98% YoY BYD announced on May 5 that its NEV sales in April 2025 reached 380,100 units, up 21.33% YoY. From January to April 2025, the company's cumulative NEV sales reached 1.3809 million units, up 46.98% YoY. (Cailian Press) Ford Motor Company Expects Tariffs to Cause $1.5 Billion Loss Ford Motor's adjusted EPS for Q1 was $0.14, while analysts expected a loss of $0.043 per share. Ford Blue's revenue for Q1 was $21 billion, compared to analysts' expectations of $20.08 billion. Ford Blue's EBIT for Q1 was $1.2 billion, compared to analysts' expectations of $1.22 billion. The company expects to suffer a $1.5 billion hit from tariffs this year and has suspended its 2025 performance forecast. (Cailian Press) "Labour Day Holiday" Sees Over 3 Million Applications for Car Trade-In Subsidies Nationwide According to the Ministry of Commerce, the national consumer market was vibrant and active during the 2025 Labour Day holiday. Data from the Ministry of Commerce's business big data monitoring showed that sales at key retail and catering enterprises nationwide increased by 6.3% YoY during the holiday. Trade-in programs were particularly popular. From the beginning of 2025 to 0:00 on May 5, applications for car trade-in subsidies exceeded 3 million. Consumers purchased 55.16 million units of 12 major categories of home appliances through trade-in programs and 41.67 million pieces of digital products such as mobile phones. In the first four days of the holiday, applications for car trade-in subsidies exceeded 60,000, driving new car sales of 8.8 billion yuan. Consumers purchased 3.56 million units of 12 major categories of home appliances, driving sales of 11.9 billion yuan, and 2.42 million pieces of digital products such as mobile phones, driving sales of 6.4 billion yuan. During the holiday, sales of home appliances, cars, and communication equipment at key retail enterprises monitored by the Ministry of Commerce increased by 15.5%, 13.7%, and 10.5% YoY, respectively. Sales of smart home products on key e-commerce platforms monitored by the Ministry of Commerce increased by over 20% YoY. Service consumption continued to heat up, with the catering and cultural tourism markets thriving. According to business big data monitoring, sales at key catering enterprises nationwide increased by 8.7% YoY during the holiday. 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