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Top related persons:
Evelyn Cheng - 1 Tesla - 1 Elon - 1 Li Yi - 1 Aito - 1 Li Auto - 1 Yiming Wang - 1 Wang - 1
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Evelyn Cheng BEIJING China Shenzhen Europe Shanghai U.S Tesla oversupply
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CNBC - 2 China Renaissance Securities - 2 Elon Musk's - 1 Huawei - 1 HSBC - 1 Consumers - 1 Price - 1 U.S . - 1

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☆ China’s EV players ramp up competition with Tesla using new tech
  + stars: | 2024-01-24 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
CNBC | Evelyn ChengBEIJING — Hot competition in China's electric car market is pushing local automakers to sell vehicles with fancy tech that Tesla doesn't yet offer in the country — and sometimes at lower prices. Tesla's cars don't come with those accessories, and Elon Musk's automaker only offers a limited version of its driver-assist tech in China right now. Xpeng 's G9 SUV, widely considered a leader in China for driver-assist tech on city streets, starts at 289,900 yuan. That's because electric car batteries and other parts aren't made in the U.S., which means American companies are already paying a premium for core components of the electric car, Li said. Traditional foreign auto giants like Volkswagen are struggle to adjust to the surge of electric cars in China, while domestic companies, including smartphone company Xiaomi and Geely-backed startup Zeekr, are rushing to release electric cars.
Persons: Evelyn Cheng, Tesla, Elon, Li Yi, Aito, Li Auto, Yiming Wang, Wang, Li, wasn't, Appotronics, aren't, BYD, Zhong Shi, Omer Ganiyusufoglu Organizations: CNBC, Elon Musk's, Huawei, HSBC, Consumers, China Renaissance Securities, Price, U.S ., U.S, China Automobile Dealers Association, BYD, Volkswagen, German's National Academy of Science, Engineering Locations: Evelyn Cheng BEIJING, China, Shenzhen, Europe, Shanghai, U.S, Tesla
☆ How the world went from a semiconductor shortage to a major glut
  + stars: | 2023-07-28 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +2 min
The glut came after companies began to stockpile chips amid the shortage to build up inventories. From profit boost to income plungeThe pandemic-induced shortage of semiconductors helped boost chip makers' profits as prices jumped. Meanwhile, SK Hynix swung to a loss in the second quarter versus a profit in the same period last year. Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, said last week that net income for the second quarter fell 23.3% from a year ago. Looking ahead, the PC market appears weak, which is likely to impact Samsung, SK Hynix and Micron.
Persons: Wong Yu Liang, Peter Hanbury, Hanbury, Sze Ho Ng Organizations: Bain & Company, CNBC, Samsung, SK Hynix, Micron, Taiwan Semiconductor Manufacturing Company, China Renaissance Securities Locations: oversupply
☆ Hong Kong makes new rules for specialist tech firm listings, cuts rev threshold
  + stars: | 2023-03-24 | by ( ) www.reuters.com   time to read: +2 min
March 24 (Reuters) - The Hong Kong Stock Exchange (HKEX) said on Friday it had framed new listing rules for specialist technology companies, adopting a lower revenue threshold for these firms set out in earlier proposals. The bourse operator, a unit of Hong Kong Exchanges and Clearing Ltd (0388.HK), said it would welcome applications operating in frontier industries, including new energy, robotics, semiconductors, quantum computing, autonomous driving, artificial intelligence and new food and agriculture technologies. A commercialised company should have no less than HK$6 billion ($764.38 million) in market capitalisation, according to the rules, lower than HK$8 billion stipulated in a consultation last October. These rules are designed to retain the attractiveness of Hong Kong's capital markets amid continued geopolitical tensions. ($1 = 7.8495 Hong Kong dollars)Reporting by Poonam Behura in Bangalore and Selena Li in Hong Kong; Editing by Sherry Jacob-Phillips and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
☆ Asian hedge funds amassed China's Pinduoduo, ditched JD.com in Q3
  + stars: | 2022-11-16 | by ( Summer Zhen | ) www.reuters.com   time to read: +3 min
HONG KONG, Nov 16 (Reuters) - Some of Asia’s largest hedge funds scooped up large stakes in Chinese e-commerce giant Pinduoduo in the third quarter while cutting holdings in its rival JD.com, according to their latest regulatory filings. Pinduoduo, the e-commerce platform known for selling inexpensive goods, in September launched its first overseas site in the United States. JD.com ADRs and Hong Kong shares (9618.HK) fell more than 20% each in the third quarter. As for JD.com, it is a pure domestic play with a higher correlation to overall trends in Chinese markets, analysts say. They also say investors could be moving their holdings in JD.com ADRs to Hong Kong-listed ones to hedge U.S. delisting risks.
☆ Audit breakthrough fails to lure investors into China ADRs
  + stars: | 2022-09-29 | by ( Summer Zhen | ) www.reuters.com   time to read: +3 min
Register now for FREE unlimited access to Reuters.com RegisterChinese stocks trade in the United States as American Depositary Receipts (ADRs) - U.S. securities that represent foreign shares of a foreign company. Every time, there's another wind comes in that nobody could have seen," said Andy Maynard, global head of equities at China Renaissance Securities. U.S. regulators had long disputed China's refusal to grant them full access to company accountants and audit papers, which had threatened their listings. But a deal struck in August has paved the way for audit inspections to begin this month. Register now for FREE unlimited access to Reuters.com RegisterReporting by Summer Zhen; Editing by Tom Westbrook and Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.
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