Baidu Inc-Class A (9888.HK)

Chinese tech company Baidu has partnered with a domestic chipmaking startup to develop intelligent systems for assisting drivers. Baidu announced the partnership with Black Sesame Technologies during this year's Auto Shanghai expo, which opened this week. The company will combine its intelligent driving solutions with Black Sesame's chips to create an integrated system slated for release later this year.

Rob Chu, general manager of Baidu's smart car unit, said during Auto Shanghai that autonomous driving eventually will be defined by a competition to cut costs.

CITIC Ltd (267.HK)

China International Trust and Investment Corporation (CITIC), one of the largest state-owned investment corporations in China, plans to invest US$50m in the establishment of a large agrilogistic park in the Syrdarya region of Uzbekistan, EastFruit experts report.

At the meeting of the Minister of Agriculture of Uzbekistan Aziz Voitov with a delegation from China headed by Yibo Wang, Deputy General Director of the Department of Agriculture of CITIC GROUP, the objects planned to be created on an area of 32 hectares were discussed, in particular: (i) warehouses with a capacity of 50,000 tonnes, a turnover of 300,000 tonnes of agricultural products, including sorting, processing, storage, cooling, and packaging; (ii) offices and hotels (of at least 200 rooms); (iii) the customs post; (iv) car park; (v) phytosanitary and veterinary inspection point; (vi) receiving point for containers and other facilities.

The external infrastructure is created by Uzbekistan while creation of an agrilogistic center involves 100% investment by China with a payback period of 7 years.

Galaxy Entertainment Group Ltd (27.HK)

Galaxy Entertainment Group ('GEG') has been proactively supporting Macau SAR Government's directions in driving forward the '1+4' adequate diversification development strategy.

With the steady recovery of the tourism industry, GEG has introduced and organized various entertainment events in Macau through multi-pronged approaches, in hopes of injecting impetus into the local entertainment sector and enriching Macau's offerings as a 'World Centre of Tourism and Leisure’.

From March to May 2023, GEG's world-class entertainment venues, including the Galaxy Arena and the Broadway Theatre of Broadway Macau, celebrate various entertainment spectaculars, ranging from the upcoming world concert tours of the global K pop sensations, BLACKPINK and TREASURE; to concerts and related events presented by renowned singers, artists and troupes from Asia, Mainland China, Hong Kong and Taiwan.

HSBC Holdings Plc (5.HK)

HSBC Holdings Plc’s largest shareholder has kept up the pressure on the bank to revamp its business as it called for a “strategic restructuring” of the lender, just weeks before its annual shareholder meeting.

Ping An Insurance Group Co publicly called for the creation of “a separately listed Asia business headquartered in Hong Kong”, in a statement Tuesday. “It is necessary for HSBC to push for structural reform to fundamentally address HSBC’s underlying market competitiveness issues, improve performance, enhance value and accelerate growth opportunities in Asia”.

Sands China Ltd (1928.HK)

Macau casino operator Sands China Ltd should have up to 89% of its hotel rooms available by the end of the second quarter, as staffing constraints ease, compared to circa 70% in the first quarter, says Grant Chum, the firm’s chief operating officer.

The Sands China COO observed, referring to peak room inventory: “We will reach the 12,000 probably some time in the third quarter, in time for the summer peak season, as additional hiring and training completes through the second quarter.”

Source: Rakuten Research - 26 Apr 2023

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