China Mobile surges more than 9% to hit new record high
China’s three largest telecoms operators continued to rally on Monday, with China Mobile surging more than 9% hit 97.87 yuan at one
Category: COMPANY NEWS
HKEX’s 2022 net profit attributable to shareholders slid 20% from record high in 2021
The Hong Kong Exchanges and Clearing Limited (HKEX) said its net profit attributable to shareholders for the fiscal year ending on December 31, 2022, reached HK$10.078 billion, sliding 20% from a record high in 2021.
Chinese automakers BYD Co., Neta Auto broke ground on car factories in Thailand
BYD started building its first overseas electric vehicle assembly line, located in Thailand’s eastern Rayong province, on March 10, the company said in a press release.
Volkswagen joins the price war in China’s auto market
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Macquarie raised target price of China Unicom, lowered rating from Outperform to Neutral
Macquarie said it’s positive about China Unicom’s strong performance in industry internet, which grew 29% in 2022 from the previous year and accounting for 20% of its total revenue.
China Unicom’s revenue growth hit fastest in nine years in 2022
China Unicom, one of the country’s largest telecoms operators, said its revenue reached 354.9 billion yuan in 2022, rising by 8.3% from the previous year, the fastest growth in nine years.
Goldman Sachs cut target price of HKEX, kept it on Conviction Buy list
Goldman Sachs cut target price of HKEX by 1% to HK$437 from HK$441, but kept it on Conviction Buy list.
BofA Securitises downgrades Chow Tai Fook to Underperform, cut target price
BofA Securities downgraded Chow Tai Fook, one of the world’s largest jewellery retailers, from Neutral to Underperform, and cut its target price from HK$17.6 to HK$13.2.
Credit Suisse gets regulatory green light to launch full-fledged wealth management business
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TVB shares hit three-year high after starting live-streaming e-commerce business
Hong Kong broadcaster TVB’s parent company, Television Broadcasts Limited, continues surging on Wednesday, jumping as much as over 97% to hit HK$14.36
Sunac China likely to issue new dollar bonds in offshore debt restructuring, creditor can apply for debt-to-equity swap – report
Defaulted property developer Sunac China said in its overseas debt restructuring plan that it may issue new US dollar bonds to replace existing ones, and creditors can also apply for debt-to-equity swaps.
Country Garden Services tumbled nearly 5% after profit warning
Country Garden Services tumbles as much as 4.8% to hit HK$14.6 in Hong Kong, bringing its market value below HK$50 billion.
Trip.com turned to profit in fourth quarter of 2022, revenue rose 7.5% on year
Trip.com, China’s largest online travel agency, reported a profit of nearly 2.1 billion yuan ($300 million) in the three months ended Dec. 31, compared to a net loss of 834 million yuan a year earlier. Revenue rose 7.5% to 5 billion yuan.
Tencent-backed autonomous driving startup Momenta considers Hong Kong or US IPO as soon as this year – report
The company is anticipating to raise a maximum of $1 billion through the listing and the firm is working with financial advisors on the possible deal.
Meituan to incorporate ride-hailing business into Meituan platform to reduce input – report
Food delivery giant Meituan is considering restructuring its online ride-hailing business, reported Chinese news outlet Sina Tech.
Xiaomi car’s progress faster than expected, mass production to start in first half of 2024 – chairman Lei Jun
Chinese smartphone giant Xiaomi’s Chairman and CEO Lei Jun said that the progress of the company electric vehicle manufacturing is faster than expectations and have recently completed the winter test.
Property developer Country Garden may major change to structure of regional presidents
Chinese property developer Country Garden’s chairwoman made a major change to the firm’s structure of regional presidents only three days after her appointment on March 1.
Yankuang Energy reported 33.68% rise in 2022 operating income, 89.2% surge in net profit
Chinese coal miner Yankuang Energy said its operating income is expected to reach 203.18 billion yuan in 2022, an increase of 33.68% from a year earlier.
Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating
Goldman Sachs slightly raised target price of Bilibili to HK$200 from HK$197, reiterating Neutral rating
China’s three state oil giants rally on expectation of higher demand, CNOOC hit record high
Shares of China National Offshore Oil Corporation (CNOOC) gains 3.5% to close at HK$11.98, marking a new record high. Sinopec gain 3.5%
Lenovo hit highest since May 2022 on recovery outlook, net buying by mainland investors
Shares of Lenovo Group continued to rise in Hong Kong, surging over 5% to hit HK$ 7.7 at one point, marking a new high since May 2022.
JD.com shares gain after launching “10 billion yuan subsidy” campaign
Chinese e-commerce giant JD.com gained as much as 3.2% to hit HK$190.7 after launching 10 billion subsidy campaign JD.com officially launched the
Country Garden Services’ shares tumble after issuing warning of up to 57% drop in 2022 net profit
Shares of Country Garden Service are slumping more than 10% in Hong Kong, after issuing profit warning.
Hong Kong broadcaster TVB hit new high since May 2021 on live-streaming cooperation with Alibaba’s Taobao
Shares of Hong Kong broadcaster TVB surge 36% to hit new high since May 2021 on live-streaming cooperation with Taobao Shares of
China’s telecom operators continue rallying, China Mobile hit record high
China’s telecom operators continue rallying on Monday, with China Mobile surging as much as 7.6% in Shanghai to hit a new record high of 93.59.
China’s CATL remained world’s top power battery company in 2022
China’s CATL remained the world’s No. 1 in terms of electric vehicle battery and energy storage system installations, according to South Korean market research firm SNE Research.
Alibaba chip unit T-Head, Ant Group to release computing chips for secure payments
Alibaba’s chip unit T-Head and Alipay, the payment service under Alibaba’s fintech unit Ant Group, will release computing chips for secure payments based on the RISC-V instruction set architecture.
Porsche China calls back 51,125 imported Panamera vehicles due to heating system problems
Porsche China is calling back 51,125 imported Panamera vehicles due to problems with heating system, according to the State Administration for Market Regulation.
Tesla’s sales in China rose last week, still slower than pace seen in the fourth quarter
Tesla nearly doubled weekly retail sales in the week of Feb. 20 to 10,703 vehicles versus a week prior, according to data.
BYD’s sub-brand Denza raise prices one week after deliveries started
Chinese electric vehicle maker BYD Co’s sub-brand Denza raised prices of all-electric version of only model on sale, only one week after deliveries started.