Baidu Inc (9888)

Baidu Inc., which generates most of its revenue from online ads, is seeing advertisers return after China lifted its zero-COVID policies last year boosting to the country's economic prospects.

The tech giant, which is known for its search engine and autonomous driving technology, leads China’s efforts to create an equivalent of OpenAI’s ChatGPT chatbot. Baidu said that it will complete internal testing of Ernie Bot in March before making the service public.

CEO Robin Li said that Ernie Bot will be integrated across all of Baidu’s operations, including its search and cloud services. Baidu also plans to integrate Ernie into its smart car operating system and smart speaker.

Galaxy Entertainment Group (27)

Galaxy Entertainment Group reported a loss attributable to shareholders of HK$3.4bn (US$433mn) in FY22, down from a HK$1.3bn (US$166m) profit in FY21 despite recording significant sequential improvement in the December quarter.

Nevertheless, the company showed sequential improvement in the 4QFY22, with net revenue of HK$2.9bn (US$370mn) down 39% YoY but 43% higher QoQ. Chairman, Dr Lui Che Woo said “We are pleased with the reopening of borders in early 2023. Macau has experienced solid demand and associated revenue and we were particularly encouraged by the performance”.

Geely Automobile Holdings Ltd (175)

Geely Automobile Holdings launched the Galaxy high-end electricpowered product line last Thursday in line with the company's Smart Geely 2025 strategy. The Galaxy includes seven plug-in hybrid vehicles and electric car models, which will come out in two years' time.

The company also unfurled some electric-powered technologies, such as a battery safety system, hybrid powertrains, and the Galaxy N-OS smart vehicle operating system, according to the report. The company will focus on self-developed chipsets, operating systems, intelligent cloud computing, and satellite networks.

Meituan (3690)

China food delivery juggernaut Meituan has commenced its recruitment process for a slew of positions in Hong Kong, as its latest attempt to break into markets outside mainland China to fuel new growth. Since October 2022, Meituan has reportedly been considering expansion into Hong Kong and other international markets.

SVP, Head of International Business Tony Qiu, who previously served as the head of international business at Kuaishou Technology, will be leading the expansion plans.

Currently, Meituan has 21 available positions listed on its recruitment page, covering roles from product management, business development, and key account management, among others.

Xiaomi Corp (1810)

Xiaomi has introduced its all-new Wireless AR Glass Discovery Edition, which joins the likes of Microsoft’s HoloLens and Google Glass in merging the virtual and physical worlds through eyewear. Still in its prototype stage, the Xiaomi AR glasses were announced at the Mobile World Congress trade show in Barcelona.

Featuring a magnesium-lithium alloy structure with carbon fibre parts and a silicon-oxygen anode battery, Xiaomi did its best to reduce the weight down to a minimum of 126g (4.4 ounces). Users can switch between a completely shuttered “Immersed Mode” in virtual space as well as a transparent mode for a vivid AR experience.

The microOLED displays offer “retina-level” clarity and the electrochromic lenses automatically dim when focusing on the virtual world. The glasses can pair wirelessly with smartphones via NFC with a single tap while gesture control with spatial detection allows the glasses to be operated independently.

Source: Rakuten Research - 1 Mar 2023

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