Rakuten Trade Research Reports

Foreign Equities (HK): (HK) BYD signs another Deal to develop Autonomous Vehicles

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Publish date: Wed, 11 Oct 2023, 09:14 AM
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BYD Co Ltd-H (1211.HK)

Earlier this year BYD inked a deal with startup Nuro to develop and produce a third-generation self-driving delivery vehicle. Together with Nuro, BYD will launch a self-driving delivery vehicle that will make road travel safer in the U.S.

The third-generation vehicle has a larger payload as well as novel safety technology. For example, the cargo volume is said to be twice that of the previous Nuro R2 model, and the cargo area features variable compartments. Also new are temperature-controlled compartments that can keep goods cold or hot. Safety improvements include external airbags for pedestrian protection and a new sensor package with cameras, radar, lidar and thermal imaging cameras that provide 360- degree all-around vision.

Haidilao International Holdings Ltd (6862.HK)

Haidilao, China’s most popular hot pot brand, has opened its first-ever store in a university canteen in the northwestern city of Xi’an. The store in Xi’an University opened Monday for a trial period and is set to become permanent next week, the store manager confirmed to Sixth Tone.

Haidilao has the largest number of hotpot stores in China and had over 1,300 stores by the end of 2022, serving more than 276m customers a year. The Hong Kong-listed company also has overseas stores including in Singapore, the U.S., and South Korea.

HSBC Holdings Plc (5.HK)

HSBC Holdings PLC agreed to buy Citigroup Inc’s retail wealth management portfolio in China, adding to its expansion in the world’s second-largest economy. The portfolio comprises about US$3.6bn in assets and deposits from wealthy customers across 11 major cities, HSBC said in a statement.

“Mainland China is central to our ambition to be the leading wealth manager in Asia,” HSBC’s wealth and personal banking chief executive officer Nuno Matos said. The London-headquartered lender has pursued a combination of “organic and inorganic initiatives” to deepen coverage of mainland China’s wealth customers, with a focus on affluent and emerging affluent sectors.

Lenovo Group Ltd (992.HK)

Lenovo is proud to be named an EPEAT® Climate+™ Champion with more than 400 products registered on day one of Climate+ eligibility. Managed by the Global Electronics Council (GEC), EPEAT is the premier global ecolabel for electronics and technology products.

Products were evaluated against a rigorous set of criteria including greenhouse gas emissions reduction targets, renewable energy sourcing, and product energy efficiency standards. This Climate+ designation comes in addition to achieving existing EPEAT criteria on circularity, reductions of chemicals of concern, and corporate ESG performance.

Sands China Ltd (1928.HK)

Macau casino operator Sands China is set to help revitalize various old districts in the city. These include the Iec Long Fireworks Factory, Pátio da Eterna Felicidade, Rua das Estalagens, and their surrounding areas.

Currently, the Government is still working on the restoration of some historical buildings in the factory. Sands plans to give a new face to Pátio da Eterna Felicidade, as the venue is located on the Macau Peninsula side. The gaming operator transforms the venue into a place for artists.

During the event celebrating China’s National Day, Macau’s Chief Executive has expressed satisfaction with casino operators’ ongoing efforts to develop non-gaming offerings.

Source: Rakuten Research - 11 Oct 2023

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