Block Plunges 20% on Cash App Concerns

Stock drop: Block's stock fell over 20% after a disappointing quarterly report.
Cash App metrics: MAUs reached 57 million, with inflows growing by only 8% despite new features.
Earnings miss: Revenue, gross profit, and payment volume expectations were missed.
Guidance cut: Full-year guidance was reduced due to stagnant user growth and weak demand.
Strategic moves: Block plans a 50% increase in Q2 marketing spend and focuses on Cash App Borrow (FDIC-approved) to boost margins.

Auto Shanghai 2025 Showcases Future Mobility

Exhibition stats: Featured 1,366 vehicles, with over 70% NEVs and 163 world debuts, attracting over 1 million visitors.
Foreign brand highlights: Mercedes-Benz debuted the all-electric CLA, Lexus showcased hybrid/electric models, and Volkswagen Anhui revealed an electric SUV concept.
Chinese innovation: Xpeng, Geely, and Hongqi displayed advanced technologies like robots and flying cars. NIO highlighted EV core technologies.
Global strategy: The Volkswagen Group emphasized its "In China, for China" approach with a 3.5 billion euro R&D center in Hefei.

Q1 performance: Adjusted EPS met expectations at $2.18, but revenue missed at $47.61 billion. Net income fell 30% to $3.5 billion.
Production impacts: U.S. production profits dropped 10% to $1.86 billion, while international profits fell nearly 40% due to lower earnings in Kazakhstan.
Buyback reduction: Q2 buybacks were cut to $2.5-3 billion from $3.9 billion in Q1.

Market leadership: BYD became the top carmaker in China, with April 2025 sales hitting a record 380,000 units, surpassing plug-in hybrids for the first time since early 2024.
Global competition: Chinese EV makers like XPENG, Li Auto, and Nio are gaining market share globally, driven by technology, features, and competitive pricing.
Government support: Subsidies and infrastructure development have fueled China's EV growth, while foreign automakers partner with local firms to leverage their tech优势.

Market saturation: Thai subsidies have drawn Chinese EV makers, leading to oversupply and price wars.
Production costs: Local production requirements increase costs, challenging profitability for Chinese firms.
Global competition: Southeast Asian markets like Indonesia are emerging as competitors, complicating China's export strategy.

Sales growth: Delivered 35,045 Smart EVs, a 273% YoY increase and sixth consecutive month exceeding 30,000 units.
Cumulative milestones: XPENG MONA M03 surpassed 100,000 units, while P7+ reached its 50,000th vehicle milestone in five months.
XNGP adoption: Achieved an 84% monthly active user penetration rate for urban driving.

Exhibition stats: Featured 1,366 vehicles, with over 70% NEVs and 163 world debuts, attracting over 1 million visitors.
Foreign brand highlights: Mercedes-Benz debuted the all-electric CLA, Lexus showcased hybrid/electric models, and Volkswagen Anhui revealed an electric SUV concept.
Chinese innovation: Xpeng, Geely, and Hongqi displayed advanced technologies like robots and flying cars. NIO highlighted EV core technologies.
Global strategy: The Volkswagen Group emphasized its "In China, for China" approach with a 3.5 billion euro R&D center in Hefei.