In the afternoon, Southern doubled its long position in Samsung Electronics (07747) as the increase narrowed to 2%, after opening more than 8% higher in the morning. As of press time, it had risen by 2.21%, reaching HK$152.7 with a transaction amount of HK$1.186 billion. According to market reports, on May 14th local time, Samsung Electronics officially proposed to its labor union to restart wage negotiation. This move aims to negotiate on matters such as salary adjustment for the year 2026, welfare optimization, and improvement in working conditions. Samsung stated that it is willing to promote labor-management dialogue in a constructive manner to ensure stable operation of the company and rational rights of employees. The specific time and agenda for the negotiation have not been announced. Meanwhile, the Korean Labor Committee also called for both sides to return to the negotiation table on Saturday. JP Morgan released a research report stating that if a large-scale strike at Samsung occurs as planned, it could have an impact on the company's operating profit in 2026 ranging from 2.1 trillion to 3.5 trillion Korean won, and could drag down the semiconductor sector's revenue by about 1% to 2%. However, JP Morgan maintains a "overweight" rating on Samsung Electronics and explicitly stated "to continue to recommend buying on dips for any price pullbacks caused by labor strike issues." The report pointed out that in the second quarter, the contract prices for DRAM and NAND rose by 58% to 63% and 70% to 75% respectively, significantly exceeding JP Morgan's previous expectation of 40% to 50%. The stronger memory price cycle is expected to largely offset labor cost pressures.