BYD started construction of new battery plant in Wenzhou city
Chinese automaker and battery producer BYD has started construction of a new battery plant in Wenzhou, in east China’s Zhejiang province, raising
Category: COMPANY NEWS
BYD denied reported price cut, saying its dealers’ promotion activities
Chinese automaker BYD Company said that the reported price cut in some Chinese regions are promotional activities conducted by dealers, and the carmaker itself has not considered a price cut.
Alibaba to merge food delivery platform Ele.me’s restaurant review service with digital mapper AutoNav – report
Chinese e-commerce giant Alibaba Group is planning to promote its buy-online, pick-up-in-store business through the merger of the restaurant review service under its food delivery platform Ele.me with its digital mapper AutoNavi, Chinese news outlet Yicai reported citing a source familiar with the matter.
Meituan launches recruitment in Hong Kong, food delivery service likely to be launched soon
Chinese food delivery giant Meituan has posted job advertisement and launched the recruitment of couriers in the city, according to the company’s
China Commodities City launched global payment platform for Yiwu market
Zhejiang China Commodities City Group, the e-commerce services provider to the world’s largest wholesale market for small commodities in Yiwu, introduced its
Chinese EV maker Li Auto launches L7 family SUV
Chinese electric vehicle maker Li Auto on Wednesday launched Li L7, a five-seat flagship family sport utility vehicle it wants to rival cars like Tesla’s Model Y.
Meng Wanzhou to serve as Huawei’s rotating chairperson on Apr 1 – report
Meng Wanzhou will begin her term as the rotating chairperson of Huawei Technologies on April 1, state-backed Shanghai Security News reported on Wednesday.
Meituan kicks off 2023’s first round of hiring, to recruit about 10,000 people in first quarter – report
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TikTok’s Chinese version Douyin is running internal tests for food delivery services in three cities
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Baidu shares hit one-year high on ChatGPT-style bot plan
Chinese search engine giant Baidu surged 15.3% to close at HK$166.3 in Hong Kong on Tuesday, marking the highest level since February
Poly Property selling stake in 12 joint venture projects with Country Garden for 2.3 bn yuan
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China Duty Free slid on slumping in 2022 earnings, Goldman Sachs sees profit-taking pressure in short term
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Goldman Sachs raised target price of BYD to HK$32.51, maintaining Buy rating
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Grand Pharmaceutical’s new drup for treatment of brain tumors granted approval
A new drug for the treatment of brain tumors manufactured by Grand Pharmaceutical Group (HK: 0512) has been given the green light by Chinese regulators.
Foxconn’s Jan revenue surged 48.2% on year in Jan
Taiwan’s Foxconn, the world’s largest contract electronics maker and major iPhone assembler for Apple Inc, said that its revenue in January jumped 48.2% from a year earlier to a record high of T$660.4 billion ($22 billion), up 4.9% from previous month.
China’s top machinery manufacturers warn of slumping profit in 2022 amid economic slowdown, real estate downturn
Chinese heavy equipment manufacturer Sany Heavy Industry said its 2022 net profit is expected to reach 4 – 4.6 billion yuan, slumping 66.76% – 61.77% from the previous year.
Nio offers discount of up to 100,000 yuan on some models in China – report
Chinese electric vehicle maker NIO is offering discounts of up to 100,000 yuan ($14,903) on some model under its latest promotion plan,
China’s three largest airlines likely lost over 100 bn yuan in 2022, expanding 152% from previous year
China three largest state-owned airlines are expected to have lost combined 103.3 billion yuan in 2022, expanding by 152% from that in the previous year.
CATL shares hit highest in five months on new investment projects
China’s electric vehicle battery giant CATL opened over 6% higher at 479.37 yuan, hitting the highest in nearly five months, before paring gains to 5.3%.
Morgan Stanley keeps Tencent at Overweight, with target price at HK$420
Tencent Holdings’ fourth-quarter revenue was expected to grow by 1% year over year, fueled mainly by the recovery of international game business
Goldman Sachs raised target price of China Mobile to HK$64 from HK$58.9, rating kept at Neutral
China Mobile should continue to lead the 5G/ mobile segment, while it’s expected to catch up to China Telecom in terms of cloud
Chinese energy giant CNOOC eyes record production of 650 – 660 million barrels of oil equivalent in 2023
CNOOC, China’s largest state-owned offshore oil driller, said it aims to achieve a record production of 650 – 660 million barrels of oil equivalent (boe) in 2023, with domestic production to account for 70% and overseas production 30%, according to a filing to the Hong Kong Stock Exchange outlining its annual strategic outlook.
Alibaba signed cooperation agreement with Hangzhou government, senior city official visited fintech unit Ant Group
China’s e-commerce giant Alibaba Group has signed a cooperation agreement with the municipal government of Hangzhou, where the company is headquartered, signaling government support for the platform economy’s growth in a healthy, regulated way, local government-backed Zhejiang Daily reported on Tuesday.
Foxconn Zhengzhou plant’s production capacity returns to peak level in high season – state media
Foxconn’s plant in Zhengzhou, capital of central China’s Henan province, is operating at full capacity, with current capacity returning to peak level in high season, reported state broadcaster CCTV.
encent-backed We Doctor plans to file for IPO in Hong Kong or US – report
Tencent-backed WeDoctor plans to file for an initial public offering by the end of April, the latest sign of increased capital activity from China’s internet companies amid improving regulatory environment.
Tesla’s latest price cut backed by engineering innovations, company sticks to cost-based pricing, said executive
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Tesla slashed prices of all China-made models to boost sales
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Li Auto’s car deliveries expected to exceed 20,000 units in Dec – executive
Chinese electric vehicle maker Li Auto’s total car deliveries in December are expected to jump above 20,000 units, said Liu Jie, vice
NIO lowered car delivery guidance in Q4
NIO has lowered its guidance for fourth-quarter deliveries citing challenges caused by the Covid outbreak. The carmaker now expects to deliver 38,500
Tencent chairman Pony Ma vows further cost reduction, calls Video Account the hope of the company
Chinese tech giant Tencent will step up its efforts in cost reduction and efficiency enhancement, said chairman Pony Ma at an internal staff meeting last Thursday, according to mainland news outlet Jiemian News.