BYD Co Ltd-H (1211.HK)

BYD, plans to build its first European car factory in Hungary, a German newspaper reported on Saturday. The Frankfurter Allgemeine Sonntagszeitung (FAS), citing unnamed sources close to BYD, said the decision had already been made internally.

A government website in Shenzhen, where BYD is headquartered, posted an article last month saying that Hungarian Prime Minister Viktor Orban met BYD Chairman and President Wang Chuanfu on a visit to the company. BYD said that it was still looking for the right location and would make an announcement at the end of the year.

Baidu Inc-Class A (9888.HK)

Chinese internet search giant Baidu has launched the paid version of its ChatGPT-like service Ernie Bot, as the country’s tech companies race to make money from their generative artificial intelligence (AI) technology.

The professional plan gives users access to the recently released Ernie Bot 4.0 at CN¥59.9 (US$8.18) per month, reduced to CN¥49.90 (US$6.86) per month for auto-renewal subscriptions, according to the tech company’s official website.

The subscription allows users to make 100 inquiries every three hours via Ernie Bot 4. Meanwhile, the more basic Ernie Bot 3.5 remains free of charge to the public.

Geely Automobile Holdings Ltd (175.HK)

Geely Automobile Holdings reported a 19% YoY growth in vehicle sales for the month of October, at 180,706 units. The firm posted a 57% YoY growth in exports for the month, at 28,591 vehicles. Therefore, in the first 10 months of 2023, the automaker has sold 1,335,984 vehicles, marking a YoY growth of 17%, and exported 222,545 vehicles, logging a 39% growth over the year-ago period.

Haier Smart Home Co Ltd-H (6690.HK)

Haier Smart Home released its Q3FY23 quarterly results whereby the company reported a revenue of CN¥198.6bn (US$27.3bn) for the first 9 months, indicating a 7.5% YoY increase. The Net Profit Attributable to Parent Company was CN¥13.1bn (US$1.8bn), representing a 12.7% YoY growth.

The profit growth exceeded revenue growth, which is particularly evident in the 6.1% increase in Q3 single-quarter revenue and the 12.9% growth in net attributable profit.

The company's pursuit of high-end, intelligent, and eco-friendly home appliance brands has positioned Haier Smart Home to display significant market resilience and growth potential amidst vital industry trends, including export recovery and digital transformation.

Netease Inc (9999.HK)

NetEase Games announced that it’s opening a new game development studio alongside industry veteran Greg Street. The new studio is called Fantastic Pixel Castle, and Street will serve as studio head. The studio’s remote-based employees are already working on its first game, a triple-A fantasy MMO codenamed “Ghost.”

Street formerly worked on World of Warcraft as a lead systems designer, as well as Riot Games’ unreleased League of Legends MMO. According to NetEase, the rest of Fantastic Pixel Castle’s founding team members also have experience working on Guild Wars 2, Fortnite, Valorant and Overwatch.

Street said in a statement, “MMOs are arguably one of the most challenging genres of games to make, but we have some big advantages. We are a fully remote studio, allowing us to hire the best game developers, and we plan to stay small, so that we can iterate on our design quickly. We also want to show the game early and often to the community and make sure we are on the right track to incorporate constant feedback.”

Source: Rakuten Research - 8 Nov 2023

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