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Glonghui, May 14th — A certain exchange continued to fall by 1.47% in U.S. pre-market trading today, closing at $8.808. Yesterday, this stock hit an intraday low of $8.745, marking a more than two-year low since March 2024.According to the latest research report from CMB International, the first quarter 2026 results of the exchange met expectations, with total revenue rising by 7% year-on-year to 7.9 billion yuan, and non-IFRS net profit growing by 7% year-on-year to 2.27 billion yuan. The music-related business maintained resilient growth, as SVIP program expansion drove membership revenue up by 7% year-on-year, while social entertainment and other revenue declined by 11% year-on-year.Looking ahead to the second quarter, the bank expects total revenue to rise by 3% year-on-year to 8.73 billion yuan, with growth slowing mainly due to intense competition resulting in the loss of casual users. The exchange’s acquisition of Himalaya has been approved by regulators and the deal is expected to close in the second half of the year, which will further enrich the company’s audio offerings and enhance user experience.Considering competitive pressures, the bank has lowered its target price for the exchange’s U.S. shares from $20 to $17.5, while maintaining a “Buy” rating.

Although the growth momentum may have slowed compared to the previous quarter, the continued expansion of the services, manufacturing, agriculture, and construction sectors is expected to support growth in the first quarter. Despite risks of global energy supply disruptions, analysts remain cautiously optimistic about Malaysia's economic resilience. This optimism is attributed to its status as a net exporter of oil and natural gas, trade ties with major oil-producing countries, exposure to the global technology upcycle, and supportive fiscal measures. Hong Leong maintains its forecast of 4.5% GDP growth for 2026.

According to ChainCatcher, official sources state that Aleo has formally completed its integration with Ledger Wallet, bringing fully private zero-knowledge proof (ZK) transactions into the self-custody scenario of hardware wallets. On the Aleo network, when users initiate transactions via Ledger, information such as sender, recipient, and transaction amount remain confidential, while the private key is always kept within the Ledger device and never leaves the hardware signer. Aleo indicated that for a long time, supporting private transactions in hardware wallets has been a technical challenge in the field of privacy public chains. Traditional hardware wallets are mainly designed for transparent blockchains, and the transaction signature process is relatively straightforward; however, private transactions require generating zero-knowledge proofs around private states, making the signing process more complex. Official sources say that the implementation of this feature is the result of dedicated technical collaboration between the Aleo and Ledger engineering teams. It is now live on Ledger Wallet and covers more than 8 million Ledger devices.