Shanghai Tag

01 Apr Chinese carmakers Li Auto, Nio, Xpeng and BYD report March sales rebound, but ‘difficulties are looming’ as competition intensifies in world’s largest EV market

Posted at 12:30h in Asia

Li Auto, Nio and Xpeng, China’s top three premium electric-vehicle (EV) manufacturers, have reported a strong rebound in deliveries in March, after their promotional activities attracted thousands of buyers. BYD, the world’s largest EV maker, said the sales of its pure electric and plug-in hybrids...

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01 Apr Hong Kong stocks: lack of earnings momentum risks derailing sentiment-driven rebound, analysts say

Posted at 06:03h in Asia

Hong Kong stocks are priced for perfection and vulnerable to shocks, according to analysts. A stream of unimpressive earnings announcements could end the two-month rebound in Asia’s third-largest stock market as investors struggle to find fresh catalysts.The uptick in the Hang Seng Index is at...

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31 Mar China’s first-quarter IPOs plunge 65% as regulator’s focus on listing quality saps pipeline

Posted at 03:00h in Asia

China’s initial public offerings (IPOs) tumbled 65 per cent in the first quarter, a trend that is likely to persist through the year as the securities regulator has pledged to improve the quality of new listings and apply more scrutiny to listing applicants.Twenty-eight companies have...

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29 Mar Syngenta withdraws Shanghai IPO application, will restart process in China or elsewhere ‘when the conditions are right’

Posted at 14:30h in Asia

Swiss agrichemicals and seeds giant Syngenta Group has withdrawn its application for a listing in Shanghai amid mainland China’s slowing equities market, dashing hopes for one of the largest share sales this year in the country’s commercial hub.The Shanghai Stock Exchange said it had terminated...

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29 Mar AirAsia targets China’s ‘still very big for us’ smaller cities such as Xian in bet on budget-conscious fliers, appetite for Southeast Asia

Posted at 13:45h in Asia

“There are two parts of growth here,” Fernandes said. “One is new cities, but the bigger one for me is to provide direct connectivity from the smaller cities.“Your smaller cities are still very big for us.”AirAsia, founded in 2001 by Fernandes with two aircraft, offers...

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29 Mar Shanghai planning US$13.8 billion fund of funds in pursuit of ‘several world-class industry clusters’, with eye on AI, biotech and semiconductors

Posted at 10:01h in Asia

The fund will underpin promising start-ups in the fields of artificial intelligence, biotechnology and semiconductors, and is expected to attract more technology firms to Shanghai, the municipal government said in a statement on Friday.The local state-owned assets watchdog will be responsible for the fund’s establishment...

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28 Mar BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

Posted at 13:00h in Asia

BYD, the world’s largest electric-vehicle (EV) maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.Wang Chuanfu, the Shenzhen-based carmaker’s chairman and...

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28 Mar China’s ‘Princess of Wahaha’ Zong Fuli looks to revive US$2 billion family beverage business after founder’s passing

Posted at 04:33h in Asia

For about two decades, Kelly Zong Fuli operated in the shadows of her father, beverage tycoon Zong Qinghou – once China’s richest man. His death last month is now thrusting the woman known as the “Princess of Wahaha” into the spotlight.It will not be easy...

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21 Mar Apple CEO Tim Cook meets BYD, other key mainland suppliers in Shanghai as US tech giant opens 57th China store

Posted at 13:00h in Asia

At Apple’s office in Shanghai, Cook on Wednesday met two billionaire company founders: Wang Chuanfu, the chairman and chief executive of the world’s largest electric vehicle maker BYD, and Zhou Qunfei, the chairwoman and chief executive of touch screen manufacturer Lens Technology.Also present at the...

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20 Mar Apple CEO Tim Cook goes on a charm offensive in China amid weak iPhone sales in the world’s largest smartphone market

Posted at 14:00h in Asia

Apple chief executive Tim Cook on Wednesday met Chinese video game developers, a filmmaker and the billionaire founder of BYD in Shanghai, ahead of the company’s new store opening in the city, as the US tech giant goes on a charm offensive amid weak iPhone...

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