At the World Superbike Championship (WSBK) Portugal round in the middleweight category, French rider Valentin Debise, riding Zhang Xue Motorcycle's 820RR-RS model, secured back-to-back victories. In the first race, he crossed the finish line with a commanding lead of 3.685 seconds. The following day, after a mistake dropped him to third place, he overtook Yamaha with a powerful surge, ultimately clinching a double victory and breaking the long-standing dominance of international giants like Ducati, Yamaha, and Kawasaki. If a lead of 0.4 seconds is attributed to rider skill, a 4-second lead highlights the machine's superiority. In the second round, despite a mid-race error, he accelerated from third to first on the straight, showcasing the bike's exceptional performance. It is worth noting that this rider had only three career wins prior to these events; the two consecutive victories here suggest significant contribution from the motorcycle. This success is expected to significantly boost the profile of Zhang Xue Motorcycle.
Many may be unfamiliar with Zhang Xue Motorcycle. Zhang Xue is an individual who founded his own brand under his name. His personal story is one of励志逆袭. Zhang lost his father at age 10, his mother remarried, and he lived with his grandmother and younger sister, scavenging for a living. He left school before finishing junior high to make his way in society. In 2006, he famously chased a TV crew for three hours on a dilapidated motorcycle, hoping for an interview to showcase his talent and get noticed by a professional racing team to fulfill his dream. His pure passion for motorcycles eventually led him to realize he might not have the talent to become a top rider, prompting a career shift to building motorcycles.
In 2013, with just 20,000 RMB, he moved to Chongqing, initially making his first capital by posting modification threads on motorcycle forums and selling bikes. In 2017, he co-founded Kove Motorcycles, growing its annual sales from 800 units to 30,000 units. By 2024, the company's annual sales exceeded 700 million RMB. Reportedly, wanting to continue developing a three-cylinder engine while his partner preferred dividends, Zhang left Kove the same year. He then established Zhang Xue Motorcycle, delivering its first batch of bikes in March 2025. The company reported a loss of 22.78 million RMB in 2025 but is now positioned to receive capital investment and achieve mass production. His journey feels like a storyline fit for a movie sequel like "Pegasus 4," embodying a real-life underdog racing story.
Other market developments include the ongoing spillover risks from the U.S.-Iran conflict, leading to declines in global risk assets, with significant drops in Japanese and South Korean stock markets. In contrast, the A-share market showed greater resilience, with the Shanghai Composite Index closing in positive territory. While the U.S.-Iran tensions remain a major factor influencing A-shares, the market appears to be building immunity, with the impact stabilizing and diminishing over time. However, the Hong Kong market experienced a sharp decline. Interestingly, the Hang Seng Index has mirrored the Dow Jones Industrial Average's trajectory closely over the past year, while the Hang Seng Tech Index has significantly underperformed, attracting little interest from both foreign and domestic investors.
Former U.S. President Trump claimed Iran would send 20 oil tankers through the Strait of Hormuz. Regardless of credibility, European markets reacted positively, showing a rebound. Military exchanges continue between the U.S., Israel, and Iran, with Iran conducting missile and drone strikes on a U.S. airbase in Bahrain, precisely targeting hangars, radar maintenance facilities, and equipment depots. Iran also struck a refinery in Haifa, northern Israel, causing a fire.
Midea Group announced a plan to repurchase 6.5 to 13 billion RMB worth of its A-shares. High-quality listed companies in China generally engage in too few buybacks; others should learn from Midea's example and repurchase more shares when they believe their stock price is low.
Kweichow Moutai raised the contract price for its Feitian Moutai 53% vol 500ml (2026) from 1,169 RMB per bottle to 1,269 RMB, and the retail price in its direct sales system from 1,499 RMB to 1,539 RMB. This price increase defied broader market trends.