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Express News | Didi's Zhang Bo resigns as CTO, will focus on the autonomous driving business in the future.
Express News | Yingtan Public Transport and Didi Global Inc hold a signing ceremony for online taxi-hailing buses.
Goldman Sachs: Maintains a 'buy' rating on XPeng Autos, with a target price of HK$46.
Goldman Sachs released a research report stating that it maintains a "buy" rating for Xpeng Motors-W (09868) with a target price of 46 HKD. Looking ahead, Goldman Sachs believes that investors will focus on the orders and production capacity upgrades for Xpeng Motors' MONAM03 and P7+, the outlook for new model production lines and output in 2025, as well as the potential timing for achieving breakeven. The report mentions that Xpeng Motors' gross margin in Q3 this year exceeded market expectations, with a gross margin of 15.3%. Goldman Sachs believes that the improvement in gross margin is primarily due to higher production scale reducing the fixed cost per vehicle, along with further income from Volkswagen's technology services.
SoftBank achieved a net income of approximately 7.7 billion US dollars in the second quarter, far exceeding market expectations.
SoftBank Group announced on Tuesday that it achieved quarterly profit for the second fiscal quarter ending in September, thanks to a series of successful IPOs by its invested Indian companies, as well as a rebound in technology stock valuations boosting the Vision Fund's investment portfolio. The company's net income for the second fiscal quarter was 1.18 trillion Japanese yen (approximately $7.7 billion), compared to a net loss of 931 billion Japanese yen in the same period last year. This performance far exceeded the average analyst expectation of 295 billion Japanese yen. SoftBank's Vision Fund reported that strong performances from Indian startups in their initial public offerings, as well as investments in Coupang and Didi Global Inc.
10 trillion debt-for-equity swap, real estate tax policies will be introduced in the near future... One article to understand the NPC press conference
Starting from 2024, China will allocate 800 billion yuan from the annual increase in local government special bonds for five consecutive years, specifically for debt restructuring, with a cumulative potential to replace 4 trillion yuan in hidden debt. In addition, with the 6 trillion yuan debt ceiling approved by the National People's Congress Standing Committee this time, it will directly increase local debt resources by 10 trillion yuan.
Express News | Former senior executives of Siasun Robot&Automation founded a startup specializing in AI companion robots, completing an angel round financing in the tens of millions.
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