BYD Co Ltd-H (1211.HK)

BYD has walked away from a deal to equip its electric vehicles with Baidu’s autonomous driving technology, as the world’s largest EV maker eyes in-house development of intelligent car software, according to people familiar with the matter.

BYD had initially agreed to use Baidu’s technology, including navigation and automated valet parking, in its EVs in March 2022. The deal was then seen as a major coup for Baidu’s autonomous driving unit Apollo, which was created in 2013 in pursuit of perfecting autonomous driving, an area CEO Robin Li Yanhong had set his eyes on before shifting his attention to a ChatGPT-like chatbot.

CK Asset Holdings Ltd (1113.HK)

CK Assetis using discounts to clear inventory. Tens of thousands of people queued for hours on Saturday to get their hands on something unseen for seven years in Hong Kong: new flats on offer by one of the city's most renown developers at prices last recorded in 2016.

CK Asset sold every flat (626 in total) in the current phase for a haul estimated at HK$4.67bn ($597m). The sell-out was almost guaranteed, as 60 buyers had registered to bid for every available flat.

Li Ning Co Ltd (2331.Hk)

Li Ning’s 1HFY23 results mildly exceeded expectations, but management maintained its 2023 guidance, which aligns with analysts estimates. The company reported that pricing discounts had narrowed sequentially in 2Q, suggesting that the sportswear industry has finally navigated through inventory challenges. Second, management also said that recent floods and droughts have not negatively impacted sales in July and August, instilling some confidence in near-term revenue trends.

In the first half, sales grew 13% year over year, in line with industry peers. Gross profit margin, however, declined 120 basis points to 48.8% as competition drove down prices of sportswear, especially ones sold online. Due to higher rental and other sales-related costs, Li Ning’s operating margin declined to 17.7% from 21.3% last year.

Netease Inc (9999.HK)

NetEase Games has revealed that a Closed Beta Test for the adventure RPG, Lovebrush Chronicles, will soon be available for mobile devices in the West. The closed beta test for Lovebrush Chronicles will run from August 11th to August 24th on Android devices. Players can download the game from the Google Play Store to participate in the Closed Beta Test.

During the closed beta test, players can expect new elements to enhance the gameplay experience. These include various activities such as Art Supplies, Aurora Theater, In Dreams, Mock Battle, and Pictura Memories. Additionally, players will have access to all 12 sections of the Academy Group Story, as well as individual character stories.

Sands China Ltd (1928.HK)

Sands China has reported a profit of US$175m for the first six months of 2023, reversing a US$760m loss during the same period last year. While Sands China has not recommended payment of an interim dividend, it has expressed optimism over the path ahead given Macau’s recovery trajectory and a balance sheet that includes US$1.23bn in cash and cash equivalents, and US$1.74bn in available borrowing capacity as of 30 June 2023.

“We believe we are able to support continuing operations, fulfill the obligations and commitments under the Concession Contract and complete our major construction projects that are underway,” the company said.

Source: Rakuten Research - 16 Aug 2023

To sign up for an account : http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity:http://bit.ly/3I5Jzxo