Evergrande NEV said local governments want to terminate investment cooperation contracts signed in April 2019 and are demanding repayment of subsidies.
Investors will need to see more positive signals from the market before calling a stabilisation, US bank says, as expectations of declining prices and shrinking incomes, plus jitters about home delivery will continue to keep homebuyers at bay.
Along with Meta, OpenAI and Samsung, the companies committed to publishing safety frameworks for measuring risks.
Hong Kong stocks lifted by positive corporate earnings surprises although major banks remain divided about the market’s future trajectory.
Prospective homebuyers are visiting showrooms in droves while transactions have revived, according to agents, soon after Beijing unveiled its most aggressive measures to revive the housing market.
Xpeng narrowed its losses last quarter as deliveries and vehicle margins improved. Technology licensing fees from Volkswagen also helped.
The latest product announcements by NetEase reflect heightened competition in the world’s second-largest video gaming market, where tech giant Tencent continues to lead.
Moonshot AI is in talks with investors for additional funding that will boost its valuation by US$500 million over its previous round in February.
Alibaba Cloud has slashed the fees for using its generative artificial intelligence models by up to 97 per cent, a week after ByteDance launched a rival service that costs less than most competitors.
‘It’s too early to leave the party,’ says an HSBC analyst as Goldman raises its index targets by at least 5 per cent, but JPMorgan Private Bank calls an end to the rebound.
The 2GW pilot project is coming up near its nuclear plant in Jiangsu province. The US$1.4 billion project will include a 0.4GW energy-storage facility and cover an area larger than Hong Kong’s Tseung Kwan O district.
The city has contributed to the GBA’s academic research and development in fields of strategic importance such as biomedicine, artificial intelligence and quantum computing.
Hong Kong-traded shares of Chinese dual-listed companies are at their smallest discounts to their counterparts on the mainland in 15 months as global investors pile in after Beijing launches measures to rescue the crisis-hit property sector.
Hamdan Azhar said asset manager fired him after he objected to a colleague’s self-dealing, and was forced to shut down search engine that monitored client discussions on illegal investments, including in China.
By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.
Tesla’s closest rival in China’s EV market reported a major setback in the first quarter, after earnings and deliveries slumped from the preceding three months. Margins eroded amid price discounting.
Mainland online retailers JD.com and Alibaba’s Tmall on Monday started offering deeper discounts on iPhone 15 models.
China’s leading EV makers are taking longer to settle payments with suppliers, indicating stress in the industry because of slowing sales and mounting discounts.
Gotion’s G-Current lithium-ion-phosphate battery offers a driving range of nearly 500km in under 10 minutes of charging. Deliveries are expected to start in 20025 when a new plant is ready.
Hong Kong stocks at 10-month highs after China’s property support measures cheer investors.
Cloud Light Technology CEO Dennis Tong anticipates multiple years of 50 per cent growth as AI drives up demand for faster data centre resources.