Wuxi Biologics Cayman Inc (2269.HK)

U.S. lawmakers have written to various government bodies, including the Department of Defence, seeking to investigate Chinese biotech companies WuXi AppTec and Wuxi Biologics over alleged ties to the Chinese military. In a letter addressed to the secretaries of the U.S. departments of defence, commerce and the Treasury, the lawmakers "strongly urge" the agencies to investigate WuXi AppTec and Wuxi Biologics, and consider adding them to their respective control lists. The company had previously been named in a bill introduced late last month that aims to bar federal contracts with some Chinese biotech entities due to alleged connections with the People's Liberation Army. WuXi AppTec has previously denied any wrongdoing and said that it abides by the laws and regulations in the countries in which it operates, including China and the U.S.

Baidu Inc-Class A (9888.HK)

Baidu’s artificial intelligence chatbot Ernie is set to feature on Lenovo smartphones in the latest such deal by the Chinese technology giant. Lenovo sells its own branded phones and also owns the phone brand Motorola. Ernie is already embedded in the browser and app store apps of Lenovo’s personal computers and tablets. Meanwhile, Baidu is seeking practical applications for Ernie, its AI large language model (LLM) and the company has, in recent weeks, entered similar deals with smartphone makers Samsung and Honor.

Li Auto Inc–Class A (2015.HK)

Li Auto, a leader in China’s new energy vehicle market, announced that the Company delivered 31,165 vehicles in January 2024, up 105.8% YoY. The cumulative deliveries of Li Auto vehicles reached 664,529 as of the end of January 2024 securing its dominance among SUVs priced above 300,000 yuan plus those in the 300,000 yuan and higher NEV market in China, according to Xiang Li, chairman and chief executive officer of Li Auto.

“2024 will be an unprecedented year of growth for us, and we will establish a portfolio of eight competitive models, including four EREVs and four BEVs, to satisfy the evolving demands of our family users. Our 2024 launches will kick off in March with the official release and commencement of deliveries of our high-tech flagship family MPV, Li MEGA, alongside the rollout of the 2024 Li L7, Li L8, and Li L9. Furthermore, we will continue to increase our investment in research and development and elevate our technical capabilities in autonomous driving, smart space, and smart electrification.” he added.

Sunac China Holdings Ltd (1918.HK)

Sunac China Holdings Ltd. agreed to sell a 70% stake in Sichuan Sancha Lake International Tourism Resort Co. Ltd. to Guotou Zhongdian (Xianyang) Science Park Co. Ltd. for about 3.97bn yuan, according to a filing with the Hong Kong Stock Exchange. The consideration comprises about 3.13bn yuan for the company, along with about 845m yuan for the debts owed to Sunac and its affiliates. The agreement, reached Feb. 8, was done “in order to resolve the issue of capital investment for the subsequent development and construction of the target project and to sort out and resolve the existing debt issues,” the filing says Sunac expects an unaudited gain before taxation of about 2.1bn yuan on the deal.

Xiaomi Corp-Class B (1810.HK)

Xiaomi has informed the Indian government that increased scrutiny of Chinese companies has made component suppliers hesitant to establish operations in the country, Reuters reported. The Chinese smartphone maker urged New Delhi to offer manufacturing incentives and lower import tariffs for certain components in its letter dated Feb. 6, Reuters said. The company, which already assembles smartphones in India with mostly local components, responded to a query from the IT ministry seeking suggestions to develop the domestic component manufacturing sector, according to the report.

Source: Rakuten Research - 14 Feb 2024

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