China Mobile Ltd (941.HK)

The penetration of 5G technology in China is expected to reach 90% as of the end of 2023. Bian Yannan, deputy general manager of planning and construction department at China Mobile, said that this penetration rate would be achieved thanks to the deployment of 360,000 5G base stations during the year.

According to the report, China Mobile had already deployed a total of 1.7m 5G base stations across the Asian nation, with a penetration rate of more than 85%. China is forecasted to reach 1bn 5G subscribers by 2025, while the number of 5G users by 2030 is expected to reach 1.6 bn, according to a previous report by the GSMA.

CNOOC Ltd (883.HK)

China National Offshore Oil Corp (CNOOC) has further expanded its presence in Brazil’s deepwater pre-salt oilfields following the start of production of its Mero2 project last Tuesday. Mero2 is one of the four production units of Mero, the country’s third-largest pre-salt oilfield in the Santos Basin off southeastern Brazil. It is located at a water depth of between 1,800m and 2,100m, CNOOC said.

Meanwhile, Mero1 has consistently maintained good production since it came into operation in May 2023, with a daily output of 25,500 tonnes, one of the most productive offshore oil fields in Brazil, said CNOOC Petroleum Brazil Ltd president Huang Yehua, a wholly owned subsidiary of CNOOC.

Geely Automobile Holdings (175.HK)

Geely on Jan 5 launched the first battery electric sedan under its mainstream luxury marque Galaxy, which the Chinese automaker hopes will take the crown from the likes of the BYD Han to become China’s best-selling model in the mainstream sedan segment.

“We are aiming to see the Galaxy E8 take pole position as a top-seller against the backdrop of increasing competition in the Chinese mainstream car segment,” Jerry Gan, chief executive of Geely Automobile Group, said.

The Galaxy E8, a five-meter-long flagship sedan, starts at CN¥175,800 (US$24,612), which is CN¥34,000 (US$4,760) below the base price of the BYD Han EV.

Meituan-Class B (3690.HK)

Meituan has become Hong Kong’s second-largest food delivery platform since debuting in the city last May, a sign that splashy subsidies are boosting the company’s first major foray outside mainland China.

The company hired aggressively for its launch in Hong Kong, a trial run for the company’s attempt to take its services outside the home market that it already dominates. KeeTa — a nod to the fast-moving cheetah — has relied on a familiar subsidy-heavy strategy to draw in users and delivery people. The platform expanded rapidly over the past year, starting from the neighbourhood of Mong Kok in the heart of the city before covering the most affluent districts on Hong Kong Island.

Nongfu Spring Co Ltd-H (9633.HK)

Nongfu Spring is set to invest CN¥5bn (US$703m) into a new factory in Jiande City, Zhejiang Province. The project will be implemented in two phases and multiple stages, expected to be completed within five years.

It will cover production, processing and manufacturing, aiming to create a comprehensive industrial base for the production of drinking water and beverage products.

Located in Jiande City’s Chengnan New District, the total land area of the project is approximately 666,667 square metres. The implementation of the facility’s construction will be subject to Nongfu Spring’s successful acquisition of the state-owned land, to be obtained in the form permitted by laws and regulations.

Source: Rakuten Research - 10 Jan 2024

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