Baidu Inc-Class A (9888.HK)

Baidu Inc has announced a strategic partnership with Qualcomm Inc’s local unit. This collaboration promises to propel the development of Extended Reality (XR) and Generative Artificial Intelligence (AI) to new heights.

By combining cloud and AI technologies with Qualcomm’s XR expertise, Baidu aims to transcend traditional boundaries and unlock new possibilities for the metaverse.

This integration will enable Baidu to build XR applications and content more rapidly and efficiently, ultimately providing users with richer and more dynamic metaverse experiences. Whether it’s exploring historical sites through AR-enhanced tourism guides or engaging in interactive educational simulations, the possibilities are virtually limitless.

CSPC Pharmaceutical Group Ltd (1093.HK)

CSPC Pharmaceutical Group unit CSPC Ouyi Pharmaceutical has obtained drug registration approval from the National Medical Products Administration of China for its Irinotecan Hydrochloride Liposome injection.

The injection is used to treat patients with metastatic pancreatic cancer after disease progression following gemcitabine-based therapy.

Geely Automobile Holdings Ltd (175.HK)

Geely Automobile Holdings has reportedly denied media reports claiming the Chinese auto giant plans to build an electric vehicles plant in Indonesia. Reports that Geely intends to build an EV plant in Indonesia are inaccurate, the Hangzhou-based company said, Shanghai Securities News reported yesterday. Geely has no specific plan to build a plant in Indonesia, although it is evaluating the potential of the Asian country’s new energy vehicle market and exploring opportunities to compete there, the carmaker added.

Indonesian news outlets had earlier reported that Geely was planning to build an EV factory in the country after Luhut Binsar Pandjaitan, Indonesia’s coordinating minister for maritime and investment affairs, reportedly said at a seminar that he had invited Geely to help Indonesia produce a local EV model by 2025 or 2026, and that the Chinese firm had expressed interest in the plan as the Indonesian government would have supplied nickel ore, a key raw material for power batteries.

Meituan-Class B (3690.HK)

Meituan and DianPing will actively participate in the 2023 Shanghai Tourism Festival under the theme "Enjoy a Wonderful Life, Explore Shanghai." The two firms will launch the "Meituan Travel Season" event.

Meituan will provide subsidies totaling RMB1.5bn (USD205.9m) through various means such as traffic, activities, and cash. The subsidies will cover various scenarios including accommodation, attractions, dining, entertainment, and shopping, benefiting tens of thousands of merchants.

Tencent Holdings Ltd (700.HK)

Tencent Holdings has secured the rights to develop and publish the mobile edition of Bandai Namco Holdings’s Blue Protocol, betting on one of this year’s most anticipated multiplayer video games to rekindle international growth, according to people familiar with the matter.

The world’s biggest video gaming company has assembled a developer team for the project and holds the global distribution rights, the people said, asking not to be identified discussing private plans. The tie-up is an extension of Tencent’s proven formula of creating mobile content for franchises like Call of Duty and PUBG. It is not clear when Tencent will debut Blue Protocol’s mobile game, which could take a year or more for development.

Source: Rakuten Research - 20 Sept 2023

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