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Foreign Equities – HK - BYD plans EV plant in Europe

Publish date: Wed, 24 May 2023, 10:16 AM
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BYD Co Ltd-H (1211.HK)

BYD is assessing the feasibility of building a passenger vehicle  plant in Europe, adding that it is currently looking for an  appropriate location for such a facility. The comment came amid  reports that the Shenzhen, Guangdong province-based carmaker  is in talks with the French authorities to establish a  manufacturing facility in the country. BYD is speeding up its efforts to explore international markets as  its NEV models gain popularity overseas. In Europe, German car  rental company Sixt inked a deal in October to purchase 100,000  EV from BYD by 2028. Earlier this year, BYD started construction  on its plant in Thailand, which is the carmaker's first overseas  facility for passenger vehicles. Located in the coastal province of  Rayong, the plant is scheduled to see vehicles roll out in 2024, with  an annual capacity of 150,000 units

Baidu Inc-Class A (9888.HK)

BAIDU’S experience in tailoring its search engine to Chinese  regulatory requirements makes it confident its AI-driven chatbot  won’t make mistakes on “important and sensitive topics”, the  company said on May 16. Baidu CEO Robin Li said the company was waiting for government  approval before launching its ChatGPT-like Ernie bot. “For important and sensitive topics, we have to make sure  artificial intelligence (AI) will not hallucinate,” Li said, using the  industry term for when AI models generate outputs different from  what is expected.

CNOOC Ltd (883.HK

CNOOC Ltd, a China-based energy company, says it has  successfully connected its Wenchang deep-sea floating wind  demonstration project to the grid for power generation. The  project is located near the Wenchang oil fields in the western part  of the South China Sea, about 85 miles away from the shore and  394 feet deep. CNOOC owns a 100% equity interest in the  demonstration project. The project’s main production facility, Haiyou Guanlan, is China’s  first deep-sea floating wind power platform, supplying power to  offshore oil fields under challenging oceanic conditions. With an  installed capacity of 7.25 MW, the platform can produce up to 22  million kWh of electricity, reducing carbon dioxide emissions by  22,000 tons per year.

Hong Kong Exchanges and Clearing Ltd (388.HK)

The Hong Kong Stock Exchange said it would launch the new dual  counter trading model on June 19, where investors would be able to  begin interchanging securities listed in both Hong Kong dollar and  renminbi counters. The bourse operator had late last year disclosed plans to amend the  existing model of trading in place to simplify the trading process for  a growing number of US-listed Chinese firms conducting secondary  or primary listings in Hong Kong. The dual counter market making  programme in its securities market, which is expected to spur the  liquidity of renminbi counters and cut down on price differences, will  also be rolled out on June 19, the exchange operator said in a filing.

Xiaomi Corp-Class B (1810.HK)

Xiaomi Redmi Book 14 breaks the market with its new flagship  laptop for 2023. It aims to stand out based on good features with a  2K screen, a 12th generation Intel processor and a 56Wh battery,  including 100 W fast charging. All this, in a light, thin design with a  180-degree opening. In addition, it will have a price of authentic  madness, less than €500 (US$540). Turning to its hardware, inside it mounts a processor 12th  Generation Intel being able to choose between a Core i5-12500H or  Core i7-12700H. In both cases with a TDP of 45W and accompanied  by 16 GB of LPDDR5 RAM together with a PCIe 4.0 SSD disk of 512GB  storage. It also incorporates a 56Wh battery that promises great  autonomy, reaching 12 hours of autonomy when viewing videos in  Full HD. In addition, it will stand out for its spectacular fast charging  as it incorporates a 100W USB-C charger.

Source: Rakuten Research - 24 May 2023

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