Alibaba Group Holding Ltd (9988.HK)

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group and Schaeffler Greater China, announced the expansion of their partnership, reinforcing Alibaba Cloud’s role as a trusted cloud service partner for the manufacturer. This collaboration aims to foster Schaeffler's digital transformation efforts across various markets with Alibaba Cloud’s cutting-edge cloud and digital technologies.Schaeffler plans to leverage Alibaba Cloud's robust cloud infrastructure and advanced digital intelligence, edge computing, and AI technologies in various business solutions. Under the partnership, the industrial giant will enhance its digital transformation across its core digital pillars, which include smart products, digital value chain, cyber-physical equipment, and digital workplace.

BYD Co Ltd-H (1211.HK)

BYD's plant in Uzbekistan has started production, which is expected to support the Chinese NEV (NEV) maker's overseas sales. Uzbekistan's President Shavkat Mirziyoyev visited BYD's Shenzhen headquarters on January 25 and met with the NEV maker's chairman and president Wang Chuanfu.BYD made its brand debut in Uzbekistan on March 2023 and introduced three models to local consumers: the Han EV, a pure electric sedan; the Song Plus DM-i, a hybrid model; and the Chazor DM-i, known as the Chaser 05 in China.BYD sold a record 341,043 NEVs in December, bringing full-year 2023 sales to 3,024,417 units. Additionally, BYD is also building NEV plants in Thailand, Brazil and Hungary. In addition to manufacturing overseas, the company is increasing exports from China.

CNOOC Ltd (883.HK)

CNOOC is targeting net production this year in the range of 700 MMboe to 720 MMboe, with operations in China and elsewhere accounting respectively for 69% and 31%. Going forward, the company foresees a steady increase over the next two years to 810 MMboe to 830 MMboe in 2026.

Its capex budget this year is CN¥125bn to CN¥135bn (US$17.4bn to US$18.8bn), with exploration, development and production will account representing 16%, 63% and 19% of the total, respectively. New projects set to come onstream this year in China include the Suizhong 36-1/Luda 5-2 Oilfield Secondary Adjustment and Development; Bozhong 19-2 Oilfield Development; Shenhai-1 Phase II Natural Gas Development Project; Huizhou 26-6 Oilfield Development; and Shenfu Deep-play Coalbed Methane Exploration and Development Demonstration project.

HSBC Holdings Plc (5.HK)

HSBC announced the launch of its first Net Zero Transition Plan, outlining the global bank’s strategy to finance and support the transition to net zero, and to meet the climate goals it has set over the past few years. The launch of the plan follows HSBC’s initial 2050 net zero target, set by the bank in 2020, which included a commitment to align its financing activities with the goals of the Paris Agreement, with the carbon emissions of clients and projects financed by HSBC reduced to net zero by 2050 or sooner.At the time, HSBC also stated that it will increasingly prioritize financing and investment that contributes to the low carbon transition and will apply a climate lens to financing decisions; and set a goal to support customers with between US$750bn and US$1trillion of finance and investment by 2030 to help with their transition.

MTR Corp (66.HK)

MTR introduces new types of multi-ride tickets for use on the high-speed rail. Starting January 25, passengers can purchase tickets for 20 rides over 90 days or get the 30-day ticket that allows up to 60 trips. Passengers can get up to 36% discount on the multi-ride tickets depending on the destination, seat class, and ticket type.The tickets are valid on high-speed trains from Hong Kong to mainland China. The new multi-ride tickets are ideal for those who frequently travel to and from mainland China. Anticipating the travel rush during the Chinese New Year holidays, Lo Wu port will extend its operating hours until 2 am on February 10 and 12. The Shenzhen Bay port will operate for 24 hours between February 9 and 13.

Source: Rakuten Research - 31 Jan 2024

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