Editorial companion

What stands out

CXMT’s debut earnings looked more like a milestone than a warm-up. Bloomberg reported the company’s sales “soared” amid a global memory crunch, and Gavekal Capital’s Leonid Mironov walked through why this first report matters beyond a headline beat. The segment is useful because it ties a micro story, a domestic Chinese memory maker proving commercial demand, to bigger threads on the show: tentative manufacturing stabilization, measured property support from Beijing, and fresh geopolitical noise that could complicate capital flows.