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☆ Huawei SUV crash kills three in China's Shanxi province, says state media
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +1 min

AITO Automobile, a Huawei-backed new energy vehicle brand, is investigating the incident in collaboration with the local traffic police department, the company said in a statement released on its WeChat and Weibo public social media accounts on Sunday. Three people, including a two-year old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a crash with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said. Aito Automobile, a Huawei-backed new energy vehicle brand, is investigating the accident along with traffic police, the company said on its WeChat and Weibo public social media accounts on Sunday. Video on social media showed bystanders trying to break the window and door of the SUV as it was lodged under the truck with the front of the vehicle engulfed in flames. The Aito M7, made by Huawei in partnership with Seres Group , was launched in 2022, with Huawei providing technology for the vehicle and help with marketing.

Persons: Aito Organizations: AITO, Huawei, Aito, Seres Group Locations: Yuncheng, Shanxi

☆ Wall Street is getting excited about these Chinese stocks — and upgrading three to 'buy'
▼ + stars: | 2024-03-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Investment analysts have upgraded at least three U.S.-listed Chinese stocks to buy so far this month. Here are the Chinese stocks that analysts are turning bullish on: Tencent Music Entertainment — Citi upgraded the stock to buy on Wednesday with a price target of $13 a share, up nearly 18% from Tuesday's close. Analysts are also finding more reasons to turn incrementally optimistic about other Chinese stocks. The analysts expect Bilibili can reach its double-digit revenue growth target for the year with the help of new game releases. Deutsche Bank analysts on March 8 also initiated coverage of China's auto sector with five buy-rated stocks: Great Wall Motor, BYD, Seres, Li Auto and JMC.

Persons: Li Auto, Li, Michael Bloom Organizations: Tencent, Entertainment, Citi, Spotify, JPMorgan, Deutsche Bank Locations: U.S, China, Tuesday's

☆ China doubles down on manufacturing, leaving real estate behind
▼ + stars: | 2024-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China News Service | China News Service | Getty ImagesBEIJING — China revealed this week it aims to spend more than a billion dollars to bolster manufacturing and domestic tech in a bid to remain globally competitive, while divulging little new support for the struggling real estate market. Industrial support clearly ranked first on Beijing's priority list for the year ahead, according to three major plans released this week as part of China's annual parliamentary meetings. Chinese authorities in 2020 intensified a crackdown on real estate developers' high reliance on debt for growth. Within that second priority, the finance ministry said it would allocate 31.3 billion yuan for improving vocational education. The government work report presented by Premier Li Qiang gave real estate a similar level of prominence.

Persons: Frederic Neumann, Li Qiang Organizations: Seres, China News Service, Getty, Ministry of Finance, HSBC, UBS, National Development, Reform Commission Locations: Chongqing, China, BEIJING, Asia, Beijing, U.S

☆ The best EV plays are now in China. Analysts are raising price targets on this stock
▼ + stars: | 2024-03-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

With Apple reportedly out of the electric car game and Tesla losing market share in some Chinese cities, the best EV stock plays are arguably now all based in China. Li Auto 's market share waned, and Morgan Stanley analysts are watching whether there will be a boost from new models. "Following our upgrade earlier this month, Li Auto delivered impressive earnings/guidance, further cementing its position as a top-tier China OEM," Deutsche Bank analysts said in a late February report. Li Auto management said they expect gross margin to fluctuate between 10% and 25%, but generally remain above 20%. But even with its premium pricing the company isn't immune from intense competition in China's electric car market.

Persons: Morgan Stanley, Nio, BYD, Li Auto, Li, Li Auto's, Weibing Lu, Xi Jinping, — CNBC's Michael Bloom Organizations: Apple, Friday, China, Deutsche Bank, Li Auto, Bank of America Securities, Huawei, Forseven, CYVN Holdings Locations: China, Hong Kong, Shanghai, U.S, Europe, Japan, East, Central Asia, Abu Dhabi, Norway

Main auto partner Chongqing Changan Automobile (000625.SZ) and relevant parties will own up to 40% of the new firm, a Changan Auto statement showed on Sunday. Neither Changan Auto nor Huawei disclosed financial details. Changan Auto referred Reuters to its Sunday statement and declined to comment further. Huawei has partnerships with other auto companies, including Seres Group (601127.SS) and Jianghuai Automobile (600418.SS), as well as with Changan Auto involving EV brands Avatr and Deepal. The proposed deal will also smooth the way for the business' listing, as Huawei had planned, said two of the people.

Persons: Ren Zhengfei, Ren, Richard Yu, Julie Zhu, Zhuzhu Cui, David Kirton, Brenda Goh, Christopher Cushing Organizations: Huawei Technologies, Changan Auto, Bosch, Chongqing Changan Automobile, Huawei, Auto, China Ordnance Equipment Group, China South Industries, FAW Group, Dongfeng Motor, HK, Reuters, Seres, Jianghuai, Changan, EV, Thomson Locations: HONG KONG, SHANGHAI, Chongqing, China, Changan, Shanghai

☆ Huawei to move smart car operations to new joint company with Changan
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 26 (Reuters) - China's Huawei (HWT.UL) said on Sunday it will move core technologies and resources in its smart car unit, which has chalked up robust sales for a number of new vehicles, to a new joint company owned up to 40% by automaker Changan Auto. The new company will engage in research and development, production, sales and service of intelligent automotive systems and component solutions, Huawei said in a press release. "The new company will ... work with partners to promote innovation and leadership in smart car technology and promote the prosperity and development of the automotive industry," the release said. "The two parties will jointly support the target company to become an industry leader in automotive intelligent systems and component solutions based in China," the filing said. Huawei has repeatedly said it does not make cars on its own but only helps other automakers make better vehicles.

Persons: Yu Chengdong, Changan, Laurie Chen, Brenda Goh, Edmund Klamann Organizations: Huawei, Changan Auto, Chongqing Changan Automobile, Shenzhen Stock Exchange, Seres, Chery, Thomson Locations: BEIJING, Chongqing, China, Shenzhen, Beijing, Shanghai

☆ Huawei launches its rival to Tesla’s Model S
▼ + stars: | 2023-11-10 | by ( Diksha Madhok | Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong/Beijing CNN —Huawei has launched a new electric vehicle (EV) that is designed to take on Elon Musk’s Tesla. The Chinese tech giant began taking preorders of the Luxeed S7, its first sedan, on Thursday. The S7’s 800-volt battery pack, the thinnest in the industry according to Yu, is made by Chinese EV battery giant CATL. A 15-minute charge will yield a driving range of 400 kilometers (249 miles), according to Yu, which surpasses the 347-kilometer range (about 216 miles) for Tesla’s Model S after a similar charging period. However, at the equivalent of $35,400, the S7 is much cheaper than the most basic Model S, which costs 698,900 yuan or $95,800 in China.

Persons: Elon Musk’s Tesla, Richard Yu, Mark Rainford, ”, ” Rainford, Yu, Rainford, Tesla, they’re Organizations: Beijing CNN, Huawei, Elon, Chery, YouTube, China, CNN, EV, Automotive Locations: China, Hong Kong, Beijing, Shenzhen, Shanghai

But areas of the market dominated by small stocks and frequented by the country's retail investors have done surprisingly well. Scores of retail investors are dabbling in micro-cap stocks - stocks whose market capitalisation is tiny - operating under the radar of big funds and investors and their massive market-moving flows. Strategies such as Cui's stand out this year in a stock market depressed by China's wobbly economy, heightened geopolitical risks and surging overseas interest rates. Some brokerages are starting to recommend micro stocks to clients. GF Securities said in an October strategy report that buying micro stocks is part of a new investment paradigm in a stock market suffering from anaemic growth, and global decoupling risks.

Persons: Aly, horribilis, Joseph Cui, Cui, Yuan Yuwei, Helen Wu, Wu, Yi Huiman, Lu Deyong, Seres, Lu, Huang Yan, Jason Xue, Samuel Shen, Summer Zhen, Vidya Ranganathan, Simon Cameron, Moore Organizations: REUTERS, Rights, Huawei Technologies, Regulators, Wisdom Asset, China Securities Regulatory Commission, Huawei, Security Technology, TRS Information Technology, Automotive, Seres, Securities, Shanghai QiuYang, Thomson Locations: Shanghai, China, Rights SHANGHAI, HONG KONG, United States, ChatGPT, Ningbo, Summer, Hong Kong

☆ Huawei's revenue barely rose in the third quarter, despite phone and car sales growth
▼ + stars: | 2023-10-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

That's despite the company's release of a popular new smartphone in late August and growing sales within its electric car venture. watch nowMore than 1.6 million Mate 60 series devices were sold during the first six weeks of sales, according to Counterpoint Research. The research firm estimated that the majority, about 75%, of units sold were Pro models — that's about 1.2 million units sold. The U.S. company saw smartphone sales fall by 10% in the third quarter from a year ago, while Huawei's sales surged by 37%, Counterpoint Research said Thursday. The company sells its operating system and components, such as for driver-assist tech, to car manufacturers.

Persons: Richard Yu, Aito Organizations: Huawei, Bloomberg, Getty, CNBC, 5G, Research, Apple, Aito's Locations: Nanjing, Shanghai, China, BEIJING, U.S

☆ Huawei-backed Aito says gets 50,000 orders for M7 car since relaunch
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

SHENZHEN, China, Oct 9 (Reuters) - Huawei-backed electric vehicle (EV) brand Aito has received more than 50,000 orders for its revamped M7 model within the first 25 days since it went on sale, the company said. The orders, which required a non-refundable deposit, would put Aito among China's five top-selling new energy vehicle manufacturers, based on sales data for August. The Aito brand, which Huawei makes in partnership with Seres Group (601127.SS), launched the M7 in July last year. As of June, Aito had shipped just 27,405 of the original M7, according to data from the China Association of Automobile Manufacturers. Huawei's intelligent automotive solution business brought in one billion yuan revenue in the first half of this year, a tiny fraction of the 310.9 billion yuan ($42.63 billion) its total business earned over that period, the company said in August.

Persons: Richard Yu, Huawei's, Aito, Yu, David Kirton, Brenda Goh, Zoey Zhang, Edmund Klamann Organizations: Huawei, Huawei's Smart, Weibo, Seres, China Association of Automobile Manufacturers, Chery, Thomson Locations: SHENZHEN, China, Shenzhen, Shanghai

☆ China's Nio to launch first mobile phone in Sept to boost appeal of EV
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Nio's founder and chief executive, William Li, was a key driver of the phone project, which the automaker is targeting mainly at drivers of its cars. As the smartphone trend fuels great demand for connectivity, from drivers, more automakers are seeking ways to stay ahead of the growing competition. But Nio's phone project has raised concern among some investors as the company battles widening losses and a sales slump amid a price war started by Tesla in January. Nio posted a net loss of 6.12 billion yuan ($839.51 million) in the second quarter, versus a loss of 2.75 billion yuan in the corresponding period a year ago. Li said Nio would launch the first model of its new EV brand targeting the mass market in the second half of 2024.

Persons: William Li, Li, Tesla, Nio, Zhang Yan, Brenda Goh, Clarence Fernandez Organizations: HK, Zhejing, Huawei Technologies, Seres, CYVN Holdings, EV, Thomson Locations: SHANGHAI

[1/2] A worker cleans an electric-powered car Neta V, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. Dody Hartono, a visitor at the auto show who plans to buy his first EV by 2024, said he wants a better deal. Indonesia has ambitious EV growth plans as it races Thailand and India to build out an EV industry as an alternative to China, the world's largest producer. CONFIDENCE ISSUESToyota (7203.T), its affiliate Daihatsu, and Honda (7267.T) account for two-thirds of auto sales in Indonesia but have been slow to pivot to EVs. Toyota has said it has no plans yet to build an EV in Indonesia.

Persons: Willy Kurniawan, Dody, EVs, Hartono, China's, Hendra Pratama, Hendra Budi, –, Johan Purnomo, Stefanno Sulaiman, Kevin Krolicki, Himani Organizations: REUTERS, Hyundai, HK, Air EV Lite, Daihatsu, Huawei, Toyota, Honda, Mitsubishi Motors, Thomson Locations: Indonesia, Tangerang, Jakarta, Thailand, India, China, Southeast Asia

☆ Cramer's Lightning Round: Walk away from AT&T
▼ + stars: | 2023-07-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Seres Therapeutics' year-to-date stock performance. Stock Chart Icon Stock chart icon AT&T's year-to-date stock performance. Stock Chart Icon Stock chart icon Centrus Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Enovix's year-to-date stock performance. Stock Chart Icon Stock chart icon Verizon's year-to-date stock performance.

Persons: it's, Centrus, I've, that's, It's Organizations: Therapeutics, Seres Therapeutics, Centrus, Verizon, Mobile, Schlumberger Locations: Southern, Haliburton, SLB

☆ Lightning Round: Walk away from AT&T, says Jim Cramer
▼ + stars: | 2023-07-24 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Walk away from AT&T, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Seres Therapeutics, AT&T, Centrus Energy, Genius Sports, Enovix, Verizon and SLB.

Persons: Jim Cramer Organizations: Seres Therapeutics, Centrus Energy, Genius, Verizon

☆ Esopus, N.Y.: ‘Pristine Natural Surroundings’ and Stealth Wealth
▼ + stars: | 2023-07-19 | by ( Karen Angel | ) www.nytimes.com time to read: +1 min

Esopus, West Park and Ulster Park are known for expensive homes, including turn-of-the-century mansions, on parklike grounds overlooking the Hudson, along with several monasteries and other religious institutions that have helped shield the river’s west bank from development. There are antique stone houses along the Rondout Creek in the hamlet of St. Remy, and along the Wallkill River in the hamlet of Rifton and Black Creek in Esopus. The town’s other small hamlets are Connelly, which borders the Rondout Creek, and Sleightsburgh, whose peninsula-shaped park juts out into the Hudson. (Three additional hamlets are listed on the town’s website, but according to the town’s supervisor, Danielle Freer, they are now obsolete.) The West Park venue occupies a 24,000-square-foot antique Italian-style villa and an adjoining brick building that had housed a Christian Brothers monastery for a century.

Persons: Jordan Goldberg, Oliver Hazard Payne, Port Ewen, Remy, Connelly, Danielle Freer, Charles Ferri, Paul Seres Organizations: Hudson, Distillery Locations: Esopus, West Park, Ulster, Hudson, New York City, St, Wallkill, Rifton

☆ China's Huawei partners with more automakers to produce Aito EVs
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 1 (Reuters) - China's Huawei Technologies (HWT.UL) is partnering with more legacy automakers to produce Aito-branded electric cars, the company's senior executive said on Saturday, in a move to expand its presence in the auto industry. Huawei will team up with Chery Automobile (CHERY.UL), BAIC Motor (1958.HK) and Anhui Jianghuai Automobile Group (600418.SS) in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei's Smart Car CEO, said at the China EV 100 forum in Beijing. Huawei, which has already a partnership with Seres Group (601127.SS) to make Aito cars, plans a series of models including SUVs, sedans and multipurpose vehicles under the Aito brand, Yu added. Huawei has been hit by a series of export controls by Washington which says it is a security risk, which the company denies. The sanctions have also affected Huawei's partnerships with global automakers, who have given up using Huawei's vehicle connectivity technologies in the past two years, Yu said on Saturday.

☆ Huawei reports biggest profit decline ever as U.S. sanctions, pandemic controls hit Chinese giant
▼ + stars: | 2023-03-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

But its profit plunged as pressure from U.S. sanctions and China's pandemic controls weighed on the Chinese technology giant. The Chinese telecommunications giant said net profit for 2022 totaled 35.6 billion yuan ($5.18 billion), a 69% year-on-year decline. Huawei reported on Friday its biggest annual decline in profit on record as U.S. sanctions continue to hit its business and strict pandemic controls in China weighed on the company. With challenges in both the carrier and consumer business, Huawei has sought to diversify the company into new areas. Huawei said its nascent "Intelligent Automotive Solutions" unit brought in 2.1 billion yuan in 2022.

☆ China's Meizu unveils first smartphones since deal with Geely founder
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

A company run by Geely Chairman Eric Li took a majority stake in Meizu last year, making the Volvo owner the first established carmaker to enter the premium smartphone sector. He later named the company Xingji Meizu, with the brand as its smartphone arm. Other tech-auto partnerships in China include Huawei Technologies (HWT.UL), whose Harmony operating system powers Seres cars. Meizu, a two-decade-old Chinese consumer electronics company, rose to prominence early in the 1ast decade as an up-and-coming Chinese Android. ($1 = 6.8766 Chinese yuan renminbi)Reporting by Josh Horwitz, Zhang Yan and Brenda GohOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Tesla to raise Shanghai output after price cuts stoke demand -memo
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Feb 1 (Reuters) - Tesla (TSLA.O) plans to step up output at its Shanghai plant over the next two months to meet demand ignited by aggressive price cuts on its best-selling models, according to a planning memo seen by Reuters and a person with knowledge of the plan. The automaker plans to produce a weekly average of nearly 20,000 units at its Shanghai factory in February and March, according to the memo, which detailed output plans for Tesla's most productive and profitable manufacturing hub. On a conference call last week to discuss Tesla's fourth-quarter results, Chief Executive Elon Musk said orders were roughly double production in January after global price cuts. Tesla's price cuts in China have sparked what analysts have described as a price war, as Chinese automakers Xpeng and Seres' Aito have followed the company in cutting prices. Tesla's Shanghai plant produces vehicles for the China market and for export to Europe.

☆ Tesla's slowing sales, shrinking margins in focus in EV price war
▼ + stars: | 2023-01-24 | by ( Akash Sriram | ) www.reuters.com time to read: +2 min

Net profit is set to increase at its slowest rate in three years, according to Refinitiv estimates. Reuters GraphicsThere are some early signs that the price cuts are working, with Chinese EV makers XPeng and Seres (601127.SS) slashing prices of their EVs in response and data showing a surge in Tesla's China sales. There was also an uptick in U.S. orders for Tesla vehicles in December after the company rolled out the cuts, according to YipitData. WALL STREET SENTIMENT* Of the 42 analysts covering the company, 25 rate the stock "buy" or higher, 12 rate it "hold" and five rate it "sell" or lower. Tesla's shares, which have more than halved in the past 12 months, closed at $143.75 on Monday.

☆ Chinese EV maker Xpeng joins Tesla, Seres in price cuts
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Xpeng lowered the starting prices for its best-selling pure electric P7 sedan to 209,900 yuan ($31,015), according to the notice, 12.5% lower than its previous level. EV makers, though many of them still loss-making, are therefore under pressure to cut prices to sustain sales volumes. Xpeng said it would offer car owners who purchased automobiles before the price cut extended maintenance services for free as compensation. Xpeng is also counting on a revamped version of the three-year-old P7 sedan to be launched in the first quarter to boost sales. The EV maker sold 59,066 P7 cars in 2022, 2.5% fewer than a year earlier.

☆ Crypto advertising is under fire after the FTX implosion, but firms like Binance, Grayscale, and OKX are pouring money into marketing to win back consumer trust
▼ + stars: | 2022-12-06 | by ( Lara O'Reilly | Reed Alexander | Lauren Johnson | ) www.businessinsider.com time to read: +5 min

The bitcoin crash and FTX implosion massively dented the crypto advertising boom. But fewer crypto advertisers can also create an advantage for those still trying to get their messages to consumers. And Dinu added that crypto companies' efforts to advertise to restore trust could persist "well beyond" the next six months. Some crypto companies are still launching splashy campaigns, similar to crypto ad campaigns from the beginning of the year. "Crypto companies have to stop talking about themselves and start talking about how cryptocurrency or blockchain fits into normal people's lives."

☆ Crypto firms like Binance, Grayscale, and OKX are pouring money into marketing to regain trust and save their companies from the fallout of the FTX implosion
▼ + stars: | 2022-12-01 | by ( Lara O'Reilly | Reed Alexander | Lauren Johnson | ) www.businessinsider.com time to read: +5 min

☆ U.S. FDA gives first-ever approval to fecal transplant therapy
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

The therapy, Rebyota, targets Clostridium difficile, or C. difficile – a superbug responsible for infections that can cause serious and life-threatening diarrhea. While this is the first such therapy approved by the Food and Drug Administration (FDA) for recurrent C. difficile infections, fecal microbiota transplants – classified by the regulator as investigational – have long been the standard of care in the U.S. for this condition. Approval for the therapy comes on the back of a positive vote from the regulator's advisers in September, as most on the panel sought standardization of the therapy. Ferring, which gained the therapy through its 2018 purchase of U.S.-based Rebiotix Inc, was not immediately available for a comment on pricing and availability of the therapy. Besides Ferring, other companies including Seres Therapeutics (MCRB.O), which is developing an oral treatment, are working on similar therapies based on fecal microbiota transplantation.

☆ China's Huawei slows its long decline under U.S. sanctions as revenues improve
▼ + stars: | 2022-10-27 | by ( David Kirton | ) www.reuters.com time to read: +2 min

Huawei posted revenue of 445.8 billion yuan ($62.03 billion)for the first three quarters, 10 billion yuan less than it saw in the same period a year earlier, the company said on Thursday. Revenue for the third quarter alone came to 144.2 billion yuan, up 6.5% on a year earlier, based on Reuters calculations. "The decline in our device business continued to slow down, and our ICT infrastructure business maintained steady growth." The company is now a bit player behind rivals, including its former budget unit Honor, which it sold in 2020. Huawei is pushing to develop other businesses that are less dependent on U.S. technology, including smart car components, energy efficiency systems and cloud services.

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