Rakuten Trade Research Reports

Foreign Equities (HK): BYD Dolphin EV – 500,000th unit produced

Publish date: Wed, 27 Sep 2023, 09:20 AM
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BYD Co Ltd-H (1211.HK)

The BYD Dolphin is the Chinese EV maker’s next model to hit the 500,000-unit production mark after the Atto 3 recently. On September 22, BYD announced it has manufactured the 500,000th Dolphin since the model first made its debut back in August 2021.

It added that since it went on sale in China, the Dolphin managed to become the top-selling hatchback in the A0 segment (a size classification used in China) for 19 consecutive months. Outside of China, it is also sold in several markets, including Europe, Brazil, New Zealand, Australia, Thailand, Singapore and Malaysia.

Alibaba Group Holding Ltd (9988.HK)

Alibaba Group expressed interest in developing direct relations with Kyrgyzstan, the press service of the Cabinet of Ministers of the Kyrgyz Republic reported. The information was announced during the visit of Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic Edil Baisalov to the headquarters of the global e-commerce giant Alibaba Group.

He added “In Kyrgyzstan, Alibaba is well known and tens of thousands of our citizens already use its services. More recently, decisions have been made at the government level to speed up delivery times and improve order delivery conditions. We are delighted with the global success of the Chinese IT industry and are interested in expanding cooperation”.

Anta Sports Products Ltd (2020.HK)

Anta Group, a leading Chinese sports apparel company, has joined other major corporations in signing the Business in Action—Sustainable Industrial Development commitments for the United Nations SDG summit. They have pledged to integrate sustainability into their operations, reduce greenhouse gas emissions, and promote inclusive development.

The group has a clear strategic goal of achieving carbon neutrality by 2050 and is promoting the implementation of the '1+3+5' sustainable development roadmap within the organisation.

CNOOC Ltd (883.HK)

CNOOC Limited announced that Lufeng 12-3 Oilfield Development Project has commenced production. The project is located in the eastern South China Sea, with an average water depth of approximately 240 meters. The main production facilities include one wellhead platform and one newly built 100,000-ton intelligent FPSO, with 13 development wells planned to be put into production. It is expected to achieve a peak production of approximately 29,500 barrels of crude oil per day in 2024.

Lufeng 12-3 Oilfield is the largest jointly developed oilfield in South China Sea in the past decade. It will provide stable energy supply for the Guangdong-Hong Kong-Macao Greater Bay Area and contribute to the high-quality development of local economy. CNOOC Limited holds a 60.8% interest in the project, while SK earthon owns 39.2% and acts as the operator.

JD.com Inc-Class A (9618.HK)

JD.com air cargo unit launches route to Vietnam as it ramps up overseas expansion. JD Airlines, the air cargo unit of JD.com ’s logistics arm, has completed its first round-trip flight between Shenzhen and Ho Chi Minh City. The air cargo link between mainland China and Vietnam comes as JD.com continues to expand its overseas logistics operations. The route, which will run three times a week, will ferry cross-border e-commerce parcels and agricultural produce between Vietnam and China, according to the statement.

The company has been ramping up its logistics buildout in the Southeast Asia region. Its chief executive Xu Ran said earlier this month during a visit to Indonesia that the company was advancing its logistics infrastructure beyond a China domestic network to build a global network, with Indonesia, the region’s most populous country, being a target market for strategic investments.

Source: Rakuten Research - 27 Sept 2023

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