Tag: china

How does the current price of XIACF compare to its 52-week high and low

Based on the search results, I can provide the following comparison of XIACF’s current price to its 52-week high and low:

The 52-week range for XIACF (Xiaomi Corp Class B) stock is $1.40 – $2.64.

As of the most recent data available:

  1. The current price is $2.36.
  2. The 52-week high is $2.36, set on May 03, 2024.
  3. The 52-week low is $1.26, recorded in June 2023.

Comparing these figures:

  • The current price of $2.36 is at the 52-week high, just 0.00% below it.
  • The current price represents a 87.3% increase from the 52-week low of $1.26.

This indicates that XIACF is currently trading at its highest point over the past year, suggesting strong recent performance or positive market sentiment towards the stock.

Apple Maps Cycling Data Now Live in The Netherlands and other countries on iPhone and Apple Watch

Apple Maps users in the Netherlands are now able to access cycling route data on their iPhones and Apple Watches.

Locations currently supported are:

  • Australia
  • Barcelona, Spain
  • China mainland
  • France
  • Germany
  • Japan
  • London, United Kingdom
  • Montréal, Canada
  • Toronto, Canada
  • United States
  • Vancouver, Canada

Alibaba Invests in AI Company MiniMax $600 million Funding Round

Investments in AI have been increasing, and Alibaba has emerged as one of China’s key players in this field. Recently, the e-commerce giant led a funding round of over US$600 million for the Chinese startup MiniMax.

This deal increased MiniMax’s valuation to over US$2.5 billion, marking Alibaba’s second significant AI investment this year. It recently led a US$1 billion round for Moonshot AI, also valuing it at US$2.5 billion.

MiniMax is a Chinese AI startup specializing in social AI. It develops AI companions and virtual characters for interactive experiences.

At present, the startup has two AI character role-playing apps: Talkie for international markets, and Xing Ye for China.

ASML to Speed Up Delivery of Mature Chipmaking Machines to China

ASML, the world’s largest supplier of chipmaking equipment, is looking to speed up the delivery of mature lithography machines to China. This is in response to strong demand from Chinese chipmakers, who are looking to upgrade their production lines.

Lithography machines are essential for the production of chips, as they are used to pattern the circuits onto the silicon wafer. ASML is the only company in the world that can produce the most advanced lithography machines, which are used to make the most cutting-edge chips.

However, ASML is not allowed to sell its most advanced lithography machines to China due to US pressure. This is because the US government is concerned that China could use these machines to develop advanced military technologies.

As a result, Chinese chipmakers have been relying on older, less advanced lithography machines from ASML. However, these machines are not capable of producing the most cutting-edge chips.

ASML is now looking to speed up the delivery of mature lithography machines to China. These machines are not as advanced as the latest models, but they are still capable of producing the chips that are needed for most consumer electronics products.

The move by ASML is likely to be welcomed by Chinese chipmakers, who are eager to upgrade their production lines. It will also help ASML to boost its sales, as China is a major market for chipmaking equipment.

Farizon has Raised $600 million to Expand its Truck Unit Outside of Mainland China

Farizon Auto, the truck unit of Chinese automaker Geely, has raised $600 million in a Series A funding round led by Geely Holding Group. The funding will be used to support Farizon’s expansion outside of China.

Farizon Auto was founded in 2021 and is headquartered in Hangzhou, China. The company develops, manufactures, and sells commercial vehicles, including trucks, buses, and vans. Farizon’s products are currently sold in China, and the company plans to expand to other countries in Asia, Europe, and South America in the coming years.

The $600 million funding round was led by Geely Holding Group, which is the parent company of Geely Auto. Other investors in the round include CMB International Capital, Hillhouse Capital, and Sequoia Capital China.

Farizon Auto’s CEO, An Conghui, said that the funding will help the company “accelerate its global expansion and become a leading player in the commercial vehicle market.”

The global commercial vehicle market is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2027. This growth is being driven by the increasing demand for commercial vehicles in emerging markets such as China, India, and Southeast Asia.

Li Auto Not Planning to Expand Overseas Before 2025

Li Auto CEO Li Xiang has confirmed that the company has no plans to expand overseas by 2025. In an interview with TechNode, Li said that the company is focused on consolidating its position in the Chinese market before expanding to other countries.

Li Auto is a Chinese electric vehicle maker that was founded in 2015. The company’s first model, the Li One, was launched in 2019. The Li One is a hybrid SUV that combines an electric motor with a gasoline engine. The Li One has been a success in China, with the company selling over 100,000 units in 2022.

Li Xiang said that Li Auto is not currently considering expanding to overseas markets because the company wants to focus on improving its products and services for the Chinese market. He said that the company is also concerned about the challenges of expanding to other countries, such as different regulations and infrastructure.

However, Li Xiang did not rule out the possibility of Li Auto expanding overseas in the future. He said that the company will “continue to monitor the global market” and “make decisions based on the best interests of the company.”

Add Foreign Credit Cards and Use Them in WeChat Pay in China

WeChat Pay, the popular mobile payment app in China, has announced that it will now accept foreign credit cards for payment in China. This is a major development for WeChat Pay, as it will make it easier for foreign tourists and businesses to use the app in China.

To use WeChat Pay with a foreign credit card, users will need to add their card to their WeChat Pay account. They can do this by going to the “Wallet” tab in WeChat and clicking on the “Add Credit Card” button. Once they have added their card, they will be able to use it to make payments at any merchant that accepts WeChat Pay.

WeChat Pay’s decision to accept foreign credit cards is a sign of the company’s growing global ambitions. The app is already popular in China, but it is also looking to expand its reach to other countries. Accepting foreign credit cards will make it easier for WeChat Pay to attract users outside of China.

China Blockchain Services Network to Launch NFT Minting and Marketplace Service in China

It has been announced that China’s state-backed Blockchain Services Network (BSN) will soft launch infrastructure for NFTs in China.

BSN said the infrastructure, known as BSN-Distributed Digital Certificates (BSN-DDC), would offer “a diverse, transparent, credible and reliable” one-stop-shop for businesses to mint and manage their own NFTs without relying on cryptocurrencies, which are banned in China.

This will be a very interesting experiment from the Chinese Government as the vast majority of NFTs in the world at the moment are based off the Ethereum network.

Tencent Sells Giant Stake in JD.com – Dropping its ECommerce Share

Tencent is a giant in the world of Chinese technology and beyond. Today they have announced that they will be selling most of its stake in JD.com.

Tencent will reduce is staking from 17% to 2.3%.

The proceeds will help Tencent provide shareholders with a $16.4 billion dividend.

After long being JD’s largest stakeholder, Tencent will give the title to Walmart.

This seems to be a Tencent strategy that has paid off in the long term. Instead of Tencent looking to acquire many companies in adjacent industries – they have decided to acquire minority stakes in a huge number of technology companies globally.

Why?

Its far easy to own more when you own a minority. If Tencent were to acquire more companies – they would have issues with Government and regulator approval.

Didi Delisting from the NYSE and Moving to the Hong Kong Stock Exchange

Chinese ride-hail giant DiDi said it will delist from the New York Stock Exchange, following a Chinese government crackdown on foreign listings. (via Axios)

Didi is the Uber of China (and beyond) and it seems as though their progress might be hindered with growing geopolitical tensions between the US and China.

The delisting will occur soon and Didi will move trading across to the Hong Kong Stock Exchange.

The Hong Kong Stock Exchange has been know to have lower general multiple than its US counterparts.

Telstra Ventures – Bullish on the Chinese Technology Sector and Private Companies in China

Even though there has been a huge crackdown in the Chinese Tech companies – it seems like there are still many Venture Capital firms that are bullish on the future of the Chinese Tech sector.

One venture firm that is looking for more opportunities is Telstra Ventures. Telstra Ventures is the venture capital arm of Telstra – Australia’s largest telecoms company.

Telstra has been investing in China for the past six years. It now counts three Chinese unicorns in its portfolio.

Keep an eye on Telstra Ventures investments as it seems like their research is finding some of the best opportunities in the Chinese Tech sector.

DJI on the Banned US Trade List – Wont Affect the Company Day to Day

The US Commerce Department recently announced that DJI is now on the US Trade Ban list.

DJI has since come out and stated that Americans will be able to continue to buy and use its products “normally” despite the companies presence on the list.

This ban only affects the companies from purchasing parts from American companies, so I’m assuming DJI saw this ban coming and already had a plan B supply chain in place ready to go at any time.

I’m not entirely sure how a drone company is helping to support human rights abuses in China. It seems like if this is the case then all Chinese companies will be in the same position!

Baidu Shares Jump 14% as it plans to Enter the Electric Vehicle Market

Baidu shares rose 14% on Tuesday after news was announced that the Chinese search engine based company was planning on building their own electric vehicles.

Its great to see that Chinese technology companies are starting to think about the EV sector and how they can disrupt the auto industry. Alibaba has also partnered with Chinese automaker SAIC to develop premium EVs for the Chinese market.

It will be interesting to see how this unfolds as technology companies are very well placed to enter this market and make huge disruptions in the same way Tesla has.

True Technology Innovation Coming From Asia and the Developing World

When I read most of the leading technology sites like The Verge or TechCrunch or Business Insider there is a distinct focus on US based technology companies (with a hint of EU), which of course is understandable. However, I find myself these days wanting to find more about companies in Asia or the Developing World. This is where true innovation will come from!

Blackstone Group Investing $5 billion in Second Asian Fund (China and India Focus)

Blackstone Group is looking to raise $5 billion for its second Asian fund.

Blackstone is seeing huge potential in Asia and really wants to invest heavily and faster than ever before. Around 66% of their first fund $2.3 billion has been invested.

Blackstone see’s great growth potential in China and India and really wants to get a foot in those markets before they mature.

Reserve Your Cybertruck Now Live in China on Tesla Website

Tesla Cybertruck orders in China.

Tesla is now officially taking Cybertruck orders in China. You can head to the Tesla website to reserve your Cybertruck.

The Cybertruck has such a unique design I’m sure there will be a lot of upper class Chinese who would love to be driving around in such a car. Really makes a statement.