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Tencent's Profit Down 2% YoY for the First Time in 10 YearsThe drop was a result of regulatory crackdowns on media and restrictions on teenagers' gaming time. Despite enhancing its parental control policy and constrained gaming time for teenagers (from 6.4% in Q3 2020 to 0.7% in Q3 2021), Tencent saw its domestic gaming service revenue increase by 5% and 20% for the overseas markets. However, Tencent's top moneymaker – mobile gaming – has seen its growth slow down for three consecutive quarters. A series of media crackdowns in China has been influential on Tencent's advertising income. The YoY revenue grew only 5% due to the political impact on industries, such as education and insurance. In addition to the latest regulatory change, media advertising revenue primarily from the Tencent news app has dropped 4%. Meanwhile, Tencent's free cash flow decreased by 14%.
OTC:TCEHY
by EqualOcean
US CPI number so hot, it made gold jump resistanceGold had the largest reaction to a US CPI release in a long time. The price reached a temporary high of $1860s before calming down. It's important to note that GOLD has had several head fakes in the past two years and this move could reverse. Technically, it's the smart thing to wait for a retest of the $1835 level before buying... Fundamentally, inflation is going to remain persistent as a result of supply bottlenecks. China PPI is at the highest level since the 1990s. High energy prices & Covid19 cases flaring up in the country have contributed to this. Since China is the global manufacturing hub, I expect the price rises to be transferred to importers & consumers around the world. To summarize, Gold is going to have an amazing 2022.
FOREXCOM:XAUUSDLong
by GrizzlyBearBee
6
NIO's Q3 Earnings Call: Here's Everything You Need to KnowThe company is considering IPO in Hong Kong. NIO reported its third-quarter earnings on Wednesday morning Beijing Time and held an analyst conference call afterward to address the most important concerns of investors. Here's a summary from CnEVPost, and there's also a live text of our transcript of the call at the end of the article. Vehicle Deliveries Current NIO deliveries are primarily affected by supply chain volatility and are expected to reach 23,500 to 25,500 units in the fourth quarter, said William Li, founder, chairman, and CEO of NIO. NIO's new orders continue to grow, with a record high of new orders in October, he said. Chip supply is now better than the worst of the third quarter, but still faces challenges. The good thing is that NIO has adapted to the situation and always finds some solutions when possible, Li said. Compared to the automotive industry as a whole, NIO has a relatively small share of sales, so it faces fewer difficulties compared to established car companies, he said. Many of NIO's domain controllers are developed by itself, so it has some advantages in finding alternative chips. Power battery giant CATL is trying to ensure the supply of batteries to NIO, but this is still the ceiling of NIO's delivery volume. The JAC NIO plant will have a few more upgrades to follow, but they won't have as big an impact as they did in October. New NIO models will be built in the new plant, and there will be a capacity creep, but it won't have an impact on the production of existing models, Li said. ET7 and New Models NIO plans to have the ET7 available in showrooms around the Chinese New Year, which comes on February 1, according to Li. The release of the ET7's assisted driving capabilities will be a long-term process, and NIO will consider a number of factors, including regulations, safety and reliability, and will not deliberately make demonstrations of autonomous driving. NIO's 150 kWh battery is moving forward on schedule, with availability scheduled for the fourth quarter of next year, and is still on track. Development of NIO's NAD hardware and software systems is well underway, and in addition to the ET7, development of two other new models based on the NT2.0 platform is on schedule, with deliveries to customers expected to begin in the second half of next year, Li said. With the growth in scale, NIO's long-term target for the margin of vehicles based on NT2 models is 25 percent. NIO will reach that goal if it reaches 300,000 units of annual production capacity. NIO's current models will be upgraded to the NT2 platform, but it will manage the pace carefully. The development work for the upgrade is already underway. Many of NIO's new models are being developed in parallel, and the costs will be reflected in the financial statements over time. NIO will offer some hardware upgrades to existing models next year when they become available. The company has considered the possibility of upgrades in the design of its products. New Plant and Capacity Growth In addition to the upgrade of the JAC NIO plant, the construction of NIO's second plant in NeoPark is proceeding on schedule. Construction of the plant started on April 29 and the main structure was topped out on August 26. Equipment installation will start at the end of November and the plant will be officially put into operation in the third quarter of next year. With the completion of NIO's second plant, the two plants can reach a maximum annual capacity of 600,000 units with double shifts, which can meet the needs in the short term. About Norway and European Expansion NIO's work in Norway has met expectations, with a quarter of the test drive customers placing orders, much more efficiently than in China. NIO ES8 orders in Norway exceeded expectations, with 92 percent of consumers choosing the battery rental service BaaS, Li said. NIO hopes to establish an after-sales service system in Norway before aggressively pushing sales. The company's low deliveries in Norway in September and October were not due to a lack of orders, but rather a controlled pace, and NIO's deliveries in Norway will increase significantly in November. NIO will enter at least five additional European countries next year, all offering NT2-based products. The ES8, based on the first-generation platform, will only be available in Norway. Regulatory Credits and Subsidy Withdrawal Most of NIO's sales of regulatory credits materialized in the third quarter, earlier than last year. Li said NEV penetration has risen quickly this year, as has the price of regulatory credits, and expects that next year the price of regulatory credits may be lower than it is now. In response to a question about China's subsidy rollback for NEVs, Li said the average selling price of NIO vehicles is high and the expected subsidy rollback won't have much of an impact on it. The following is the text of CnEVPost's live report of the conference call: NIO's new orders continue to grow, with a record high of new orders in October, said William Li, founder, chairman, and CEO of NIO. Current NIO deliveries are mainly affected by supply fluctuations, and total deliveries are expected to reach 23,500 to 25,500 units in the fourth quarter of 2021. Development of NIO's NAD hardware and software systems is well underway, and in addition to the ET7, development of two other new models based on the NT2.0 platform is on schedule for delivery to customers starting in the second half of next year, Li said. In addition to the upgrade of the JAC NIO plant, NIO's second plant in NeoPark will start installing equipment at the end of November and will be officially put into operation in the third quarter of next year, said Li. NIO ES8 orders in Norway exceeded expectations, with 92 percent of consumers opting for the company's battery rental service BaaS, Li said. The JAC NIO plant will have small amount of renovations to follow, but they won't have as big an impact as they did in October. New NIO models will be built in the new plant and there will be a capacity creep, but it won't have an impact on the production of existing models, Li said. Most of the sales of regulatory credits occurred in the third quarter, earlier than last year. With the growth in scale, NIO's long-term target for vehicle margin based on the NT2 platform is 25 percent. NIO plans to have the ET7 available in showrooms around Chinese New Year, which arrives on February 1, Li said. The current chip supply is better than the worst third quarter, but still faces challenges. The good thing is that NIO has adapted to the situation and always finds some solutions as much as possible. Compared to the whole automotive industry, NIO's sales account for a relatively small percentage, so the difficulties it faces are also relatively smaller than those of established car companies. Many domain controllers are developed by NIO itself, so it has some advantages in finding alternative chips. CATL is trying its best to ensure the supply of batteries to NIO, but it is still the ceiling of NIO's delivery volume. The average selling price of NIO vehicles is high, and the expected subsidy withdrawal will not have much impact on it. The release of ET7's assisted driving capability will be a long-term process, and NIO will consider a number of factors including regulations, safety, and reliability, and will not deliberately go for autonomous driving demonstrations. NIO's 150 kWh battery is advancing on schedule, with plans to deliver in the fourth quarter of next year, and is still on track. If NIO reaches an annual capacity of 300,000 vehicles, it will be able to achieve a 25% vehicle gross margin. NIO's current models will be upgraded to the NT2 platform, but NIO will manage the pace carefully. R&D work for the upgrade is already underway. NEV penetration has risen rapidly this year, as has the price of regulatory credits, and next year the price of regulatory credits may be lower than it is now. NIO's work in Norway has met expectations, with a quarter of the test drive users placing orders, much more efficiently than in China. NIO hopes to establish an after-sales service system in Norway before aggressively pushing sales. The company did not deliver much in Norway in September and October, not because there were not enough orders, but because it was controlling the pace. NIO's deliveries in Norway will increase significantly in November. NIO will enter at least five additional European countries next year, all offering NT2-based products. The ES8, based on the first-generation platform, will only be offered in Norway. Many of NIO's new models are being developed in parallel, and the costs will be reflected in the financial statements over time. With the completion of NIO's second plant, the two plants can reach a maximum annual capacity of 600,000 units with double shifts. NIO will offer some hardware upgrades to existing models next year when the time comes. The company has considered the possibility of upgrades in the design of its products. This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
NYSE:NIO
by EqualOcean
TSMC To Produce Chips In Japan By 2024 In Deal With SonyThe deal worth USD 7 bn establishes joint venture company Japan Advanced Semiconductor Manufacturing. TSMC's board of directors officially approved plans to build a chip factory in Kumamoto Prefecture, its first-ever Japanese plant. Sony is set to invest USD 500 million and will hold no more than a 20% stake in the joint company, according to a statement released on Tuesday. The project will be Japan’s largest financially supported endeavor for a foreign-controlled company with billions of Japanese Yen in subsidies. It will create 1,500 high-tech professional jobs in Japan with the construction of the chip plant scheduled to begin in 2022 and production slated to begin in 2024. TSMC already has a plant in Nanjing and is currently constructing a plant in Arizona in the U.S. with considerations to build a new chip facility in Germany. The semiconductor industry has been a top priority for many nations grappling with recent supply chain shortages. Japan’s response to the crunch is a framework for subsidies that allows companies to build chip factories in the nation. The conditionality is that firms must respond to requests for increased production and prioritize supply to domestic companies should supplies of semiconductors become tight. Sony specifically is TSMC’s biggest client in Japan making the deal quite worthwhile for both ends. The plant will produce state-of-the-art 7-nanometer chips as well as less advanced but versatile 22- to 28-nanometer chips. TSMC was founded in February 1987 by Zhang Zhongmou and is headquartered in Taiwan. It is a professional integrated circuit manufacturing server with the world's most advanced semiconductor technology.
NYSE:TSM
by EqualOcean
Tencent Music Sees Rise in Revenue - Q3 2021 Financials ReleasedOnline music paying users jumped 37.7% to 71.2 million from a year earlier, while the figure increased by 5 million from the prior quarter. The total revenue of Tencent music in the third quarter was CNY 7.81 billion, an increase of 3.0% over the same period. The net profit was CNY 1.06 billion, a decrease of about 35% over the same period. The financial report also pointed out that in the first three quarters of 2021, the total revenue of the firm was CNY 23.63 billion, an increase of about 13.5% over the same period last year. The revenue from online music services was CNY 2.89 billion, a year-on-year increase of 24.3%. The revenue from music subscription services was CNY 1.9 billion, a year-on-year increase of 30.2%. This growth was due to the record number of online music paying users, reaching 71.2 million, a year-on-year increase of 37.7%. The revenue from social entertainment services and other businesses was CNY 4.92 billion, a year-on-year decrease of 6.4%. Tencent music said that this was due to the temporary loss of some mild users to other pan entertainment platforms, resulting in a year-on-year decrease in the company's online music and social entertainment Mau. The results come amid a regulatory crackdown in China on sectors from tech to education and property. The company's parent, Tencent Holdings, said in August it had ended all exclusive music copyright agreements after regulators barred it from such deals.
OTC:TCEHY
by EqualOcean
NIO Q3 Earnings: What to ExpectWill the chip shortage affect Nio's Q3 results? NIO will report unaudited third-quarter earnings on November 9 after the US market closes. So what can investors expect? NIO has already released data showing that it delivered 24,439 vehicles in the third quarter, up 100 percent year-on-year and 11.6 percent from the second quarter. Of those, 5,418 ES8s, 11,271 ES6s, and 7,750 EC6s were delivered. In a research note sent to investors on November 3, Deutsche Bank analyst Edison Yu's team said the delivery figures were largely in line with their latest forecast. The team expects NIO's revenue to be CNY 9.33 billion in the third quarter, representing a 106.1 percent year-on-year increase and a 10.4 percent increase from the second quarter. Yu's team expects NIO to report a gross margin of 17.0 percent in the third quarter and a vehicle margin of 18.6 percent. As a comparison, the company had a gross margin of 18.6 percent and a vehicle margin of 20.3 percent in the second quarter. The team attributed their lower gross margin forecast to higher depreciation amortization. Based on these figures, the team expects NIO to report a loss of CNY 0.82 per ADS in the third quarter. This compares with a figure of CNY 0.21 in the second quarter. For the fourth-quarter outlook, Yu's team expects NIO's management to likely give guidance of 24,000-25,000 deliveries, considering that October's downtime resulted in only 3,667 deliveries for the month. NIO's management has hinted that their order book has exceeded 10,000 units for several months in a row, so Yu's team expects NIO's deliveries in November and December to improve back to more than 10,000 units, and expects the company's guidance for fourth-quarter revenue may be in the CNY 9.5 billion-10 billion range. NIO has previously said it aims to deliver three models next year, including its flagship sedan ET7, Yu's team noted, adding that they don't think NIO's management will do a complete refresh of its current models next year, as it believes they can remain competitive with the most competing German luxury models with minor updates. Yu's team raised NIO's delivery forecast for next year from 150k to 160k and for 2023 from 245k to 285k. Based on the latest delivery forecast, the team raised its price target on NIO by USD10 to USD70, still based on 8x 2023E EV/sales. In a separate report sent to investors on November 4, Yu's team noted that NIO's stock has significantly underperformed its local peers over the past three months, but that could change soon. The team believes that there are 2-3 potential catalysts that could help change the narrative on the stock next. Here's what they say: 1) 3Q21 earnings on 11/9: management will provide 4Q guidance that shows large step-up in volume recovery for Nov/Dec and while official consensus is likely too high, we believe buy-side expectations have already been reset. 2) November monthly deliveries: likely reported on 12/1 and should confirm robust demand for existing models despite greater competition. 3) NIO Day: will be held on 12/18 and we expect new models/technology to be unveiled that should boost both investor and consumer sentiment. Notably, the team also cautioned that risks including further constraints from the supply chain, a sudden shift in EV investor sentiment and poor initial acceptance of new products could also invalidate these judgments. NIO shares are up about 10 percent so far this month and up about 20 percent in the past month. This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
NYSE:NIO
by EqualOcean
ALIBABA $BABA gift to you$BABA has been in a downtrend all year 2021. while this has being disappointing to investors, its also the one in 4 years opportunity to buy into this Chinese retail leader at these prices. I mean 140 $ -160 is your buy zone. it will never be this cheap for a long time. HARD SUPPORT is at I40$ and that represents the new foundation for this moon shoot. This is a long term play so allocate capital judiciously. TAKE PROFIT zones should be about 210-220 and 260- 280. GOODLUCK!!
NYSE:BABALong
by lexcel
What's preventing AUSSIE from climbing further ?Current RISK ON mood in the markets should likely propel AUDUSD higher as the economies around the globe try to recover. As china is dependent heavily on Australia on trade matters, we have every reason to believe that the AUSSIE will likely gain ground as the recovery in the Chinese exports continue. So from technical point of view, the question that arises is: what is stopping the AUDUSD from climbing further? Just have a look at the main chart to understand the clear picture. Aussie seems to be supported by a ascending trendline and until this breaks, we are still in an uptrend. Now for this uptrend to resume we need to see clear breakout of the price outside its triangle (descending trendline) to target the next resistance at 0.77700. Lets see how this all plays out! EXTRA: have a look at the related link section. there is an active SHORT SWING EURGBP WEEKLY TRADE. The entry price is at an excellent level. enter at your own risk if you wish. the analysis is also present behind this trade THIS JUST REPRESENTS MY ANALYSIS ON THIS PAIR AND ITS NOT A TRADE SIGNAL. I HAVE MANY PAIRS THAT I MONITOR AND ALL OF MY TRADES ARE ON W, D , 4H TIMEFRAME (SWING TRADES). ITS NOT POSSIBLE TO POST ALL OF MY ANALYSIS HERE, HOWEVER I POST TRADE SIGNALS WHEN THE CRITERIA IS MET ON THE FX PAIRS I MONITOR. FOLLOW & LIKE TO RECEIVE FREE FX SWING TRADE SIGNALS CHEERS
Long
by FX618Analysis
Haier Founder Zhang Ruimin Steps Down as ChairmanZhang volunteered not to participate in the nomination of new directors. Zhou Yunjie was elected as the new chairman of the board and appointed as CEO. Liang Haishan was appointed as president. During Zhang’s 37-year stint at Haier, the firm has grown from a Qingdao refrigerator factory with a sale revenue of only CNY 3.48 million but a deficit of CNY 1.47 million in 1984 to a global enterprise with a worldwide sale of more than CNY 300 billion and a pre-tax profit of more than CNY 40 billion in 2020. According to the Qingdao-based firm, Zhang proposed a management model called Rendanheyi in 2005, which has 'become a trend during the era of Internet of things.' As a legend in China's household appliance industry, Zhang, known as the 'godfather of Chinese management,' has been selected as one of the 50 most influential global management philosophers. In September 2021, Zhang and Eric Cornell, president of the European management development foundation, jointly signed the first international certification of innovative management, signifying that the Chinese enterprises have created the first international standard of management mode. Consequently, Haier pioneered a new inheritance mechanism, enabling the company to keep evolving after transforming from its bureaucratic model into a self-driven enterprise. Zhang was also among the 100 Chinese who were awarded the medals of reform pioneers during a grand gathering in December 2018 to mark the 40th anniversary of the country's reform and opening-up.
HKEX:6690
by EqualOcean
Lenovo Group's Net Profit Reached CNY 222.5 Bn in 2021 H1Hong Kong stocks of Lenovo Group fell by 0.35% to HKD 8.47/share, with a total market value of HKD 102 billion. Lenovo Group has three major business groups, namely the intelligent equipment business group (IDG), the infrastructure solution business group (ISG), and the solution service business group (SSG). The 2021 H1 financial reports for the Lenovo group are as follows: - Revenue was USD 34.8 billion, a 24.87% year-on-year increase. - Net income was USD 978 million, an 87% year-on-year increase. - IDG's revenue reached USD 30 billion, an increase of 24.14% year-on-year, with USD 2.3 billion in net profit. - ISG's revenue was USD 3.8 billion, an increase of 23.57% year-on-year, with USD 16.9 billion in net loss. - SSG's revenue recorded USD 2.5 billion, an increase of 33.39% year-on-year, with USD 548 million in net profit. The six months performance period ended September 20, 2021, are as follows: - R&D expense was USD 948 million, accounting for 2.72% of revenue. - SG&A expense was USD 3.3 billion, accounting for 9.44% of revenue. The 2021 Q2 performance are as below: - Revenue was USD 17.9 billion, a 23.07% year-on-year increase. - Net income was USD 512 million, a 65.16% year-on-year increase.
HKEX:992
by EqualOcean
1
TuSimple Releases 2021 Q3 Finanical ReportBank of America reiterated TuSimple at a 'buy' rating, with a target price of USD 60. The bank said TuSimple had plenty of liquidity despite still losing money in the third quarter. According to TuSimple's financial announcement for the third quarter of 2021: - The revenue was USD 1.80 million, increasing by 205.65% compared with the same period last year. - The net loss was USD 115 million, increasing by 28.56% compared with the same period last year. - The research and development expenditure increased by 40.75% to USD 84.51 million. - The revenue cost was USD 3.49 million. - The sales and marketing expenses were USD 910,000. - The general and administrative expenses were USD 28.83 million. - TuSimple holds USD 1,41 million in cash and cash equivalents as of September, 30. - At the end of the reporting period, TuSimple's road mileage was 5.4 million miles (about 8.69 million kilometers), showing an upward trend of 17% compared with last month. Among them, the fully automated truck bookings totaled 6,875, 100 more than that in the second quarter; and map mapping miles totaled 9,900 miles, growing 16% from last quarter. - TuSimple expects the full-year revenue would be USD 5 million to USD 7 million, with USD 200 million to USD 220 million investments in research and development.
T
by EqualOcean
NIO: Added Over 10k Orders in Oct, No Chip Shortage for OctNIO said in an announcement on its website yesterday that it delivered 3,667 vehicles in October, including 218 ES8s, 2,528 ES6s and 921 EC6s. That delivery volume fell 27 percent year-on-year and was 65.5 percent lower than in September. After a short explanation of the dip in October deliveries on the NIO App yesterday, NIO co-founder and president Qin Lihong gave more details in an interview. NIO's factory in Hefei ran at full capacity for only 10 days in October, so deliveries were low, but sales in October were excellent and reached a record high, local auto media Chedongxi said, citing an interview with Qin today. Qin said he could not disclose the number of new orders, but said "it's definitely over 10,000, and we've been over 10,000 for several months in a row." Chedongxi reports that their visits to NIO stores also confirm Qin's claims. A salesperson at an NIO store in Beijing's Wukesong said the store sold more than 100 units in October, a good month for the year. "Because loan rates are going to be raised in November, 1,400 cars were sold across Beijing on October 31 alone," the salesperson said. The company attributed this to lower production volumes due to production line restructuring and upgrades and preparations for new product introductions between September 28 and October 15, as well as certain supply chain fluctuations, but did not provide more details. In the latest interview, Qin said NIO began a revamp of the JAC NIO manufacturing site in April and May this year to allow the ET7 to be produced and delivered in the first quarter of next year and to expand the plant's capacity. The renovation was carried out in several phases so as not to affect the production of NIO's existing models, with the latest upgrade, which began at the end of September, being a very important phase, Qin said. One of the tasks was the expansion of the body welding line, with more than 100 new robots alone. "After the equipment goes in and is commissioned, there's another week of complementing the line and capacity creep," Qin said. As some car companies continue to blame the chip shortage for the decline in deliveries, Qin was also asked by Chedongxi if the decline in NIO deliveries was related to that, and Qin answered in the negative. NIO's factory was open for just 10 days, and that little production wasn't enough to be affected by the chip shortage, he said. Separately, according to Beijing News, Qin said NIO's current production pace is normal and orders in the clog will soon be cleared. Consumers who order NIO vehicles now can get deliveries in six weeks at most, Qin said, adding that NIO deliveries will get back on track in November and December. This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
NYSE:NIO
by EqualOcean
Tencent Meeting Held 4 Bn Meetings in 2020, Hit 200 Mn UsersThe outbreak of COVID-19 in 2020 damaged many sectors. The videoconferencing market was among the winners. Tencent Meeting (global version – VooV Meeting) took its second mover advantage and tightly followed its global counterpart – Zoom. Released in late December of 2019, Tencent Meeting, although coming out seven years later than Zoom, has now become the most used video conferencing app in China. According to Tencent's vice president Yuepeng Qiu, Tencent Meeting now attains (source in Chinese) 200 million users and held more than 4 billion meetings in 2020. At the time Tencent Meeting was presented, no one could predict its future impact in China. From its bare-bone functionalities and dated UI in earlier versions (even today 26% of its user ratings are 1-star), we could speculate that this app initially wasn't the tech giant's top priority. Resulting from its unexcepted success, Tencent Meeting now joins the Tencent enterprise services ecosystem. The following months will see more integration between Tencent Meeting and Enterprise WeChat.
OTC:TCEHY
by EqualOcean
$BABA: It's time, load up the truck...I think $BABA likely bottoms around here, the 14 week down trend signal that predicted this decline reached its final week and price will gap down into long term support from the all time 25% speed line for the whole advance from the bottom to the top. Sentiment had reached critical levels for equities last week already, and there's a path out of this mess with Evergrande possibly under control and most investors liquidated out of this stock, reaching lows not seen since 2019. Valuation is interesting now, so, it seems like a good play to try and knife catch this one. I once tried with the $KWEB etf which had completed a similar down trend recently, which led to a rapid rebound rally but that rally was faded after I took profits, and prices retraced back near the bottom on the back $BABA's continued weakness. The time is likely now, to try and fade this largely hyped fall, after most people trying to catch the bottom gave up already. Let's roll! I risk 1 average true range down, below this support level here, I will then monitor daily charts for a bullish trend signal after basing, to accumulate more shares and trail my stop loss higher. Cheers, Ivan Labrie.
NYSE:BABALong
by IvanLabrie
14
BOE Reached CNY 20 billion in Net Profit as of Q3 2021In the first half of 2021, BOE continued to rank first in the world in terms of display shipments in the five application areas of smartphones, tablets, notebook computers, monitors, and TVs. BOE released its Q3 earnings report for the period ended September 30, 2021, on October 28. · Operating income was CNY 56 billion, a 46.8% year-on-year increase. · Net profit was CNY 7.3 billion, a 441.1% year-on-year increase. · Debt ratio was 13.88%. · Gross margin reached 44.32%. · Financial expenses were CNY 99 million. The First three-quarter financial reports for the IoT firm are as below: · Revenue was CNY 163.3 billion, a 72% year-on-year increase. · Net profit was CNY 20 billion, a 708.4% year-on-year increase. BOE issued the "Announcement on Provision for Asset Devaluation in the First Three Quarters of 2021." The company’s provision for inventory depreciation in the first three quarters of 2021 was 3.949 billion yuan, transferred back 1.24 billion yuan, and resold 792 million yuan. Inventory impairment losses in the first three quarters of 2021. The total profit is 1.918 billion yuan. The company also released the investment project – "BOE Chengdu vehicle display project" with CNY 2.5 billion. The project strives to start production at the end of 2022, with an annual output of approximately 14.4 million onboard display screens after reaching full capacity.
SZSE:000725
by EqualOcean
SF Holding’s Net Profit Drops by Nearly 70% in the 1st 3Q 2021The acquisition of Kerry Logistics assets reached CNY 200 billion. SF Holding released its Q3 earnings report for the period ended September 30, 2021, on October 28. · Operating income was CNY 47.5 billion, a 23.5% year-on-year increase. · Net income was CNY 1.0 billion, a 43.5% year-on-year decrease. · Gross margin decreased by 6.8%. · Completed 51.5% shares of Kerry Logistics, followed by a 71.4% increase in SF holding’s total asset The First three-quarter financial reports for the logistics firm are as below: · Operating income was CNY 135.9 billion, a 23.97% year-on-year increase. · Net income was CNY 1.8 billion, a 67.9% year-on-year decrease. · Shipments reached 7.7 billion in the first three quarters, with 36.39% growth. · The government subsidy included in the profit reached CNY 630 million. Through the acquisition of Kerry Logistics, the improvement of SF holding’s international business layout will continue to accelerate its operating capabilities for the foreseeable future. Therefore, the recovery of SF Holdings' profitability is expected to rise in the future.
SZSE:002352
by EqualOcean
Increase in Revenue with Decreasing Net Profit GM Motors Q3 2021The automaker has been expanding its global layout during the past quarter of 2021 and has entered the Egyptian, Bruneian and European markets. During the third quarter, Great Wall Motor announced its target of selling 1 million vehicles overseas in 2025. The revenue of the firm increased 10.13% year-on-year to CNY 28.86 billion. Operating income was CNY 28.86 billion, a year-on-year increase of 10.13%. Net profit was down 1.72% year-on-year to CNY 1.41 billion. From January to September 2021, the automaker achieved a total operating income of CNY 90.79 billion, a year-on-year increase of 46.11%, and a net profit of CNY 4.94 billion, up 91.13% year-on-year. For the first three quarters this year, Great Wall Motor added that the company witnessed a 29.9% increase in new car sales versus the previous year to 884,000 vehicles. From January to September, GWM sold 98,000 vehicles outside China, soaring 136.3% compared to a year ago, accounting for 11.1% of the company's total vehicle sales. Great Wall Motor's performance in the capital market has also improved significantly. As of the close of October 29, the company's A-share stock price has reached CNY 68, an increase of 82.65% from the closing price on December 31, 2020. The market value of the firm has reached CNY 628.1 billion, ranking second among Chinese automobile companies.
HKEX:2333
by EqualOcean
Midea Announces the First 3 Quarters' Financial Results for 2021For the first three quarters, the domestic revenue increased by 24.7% and the overseas revenue increased by 15.51% compared with the same period last year. According to Midea's financial results for the first three quarters of 2021: - The revenue increased by 20.57% to CNY 261.342 billion, and net income attributable to the parent company was CNY 23.455 billion, with an increase of 6.53% year-on-year. Among them, Q3 revenue achieved CNY 87,532 million (up 12.66% YoY), while the net profit attributable was CNY 8,446 million (up 4.4% YoY). - The company's domestic revenue increased by 17% in the third quarter of 2021, while overseas revenue increased by 6.4%. By the end of September, the company had added more than 36,000 overseas private label outlets for the whole year. - The net cash flow from operating activities was CNY 27,897 million, with an increase by 11.52% compared to the same period last year, while its own capital amounted to CNY 128.1 billion (up 2.4% YoY). - The company's research and development expenses amounted to CNY 8,765 million, showing a year-on-year increase of 30.51%. - The online and offline shares of the domestic air-conditioning market are 34.8% and 35.8%, respectively. - The online and offline shares of washing machines are 35.2% and 27.5%, respectively. - The online and offline shares of refrigerators are 18.6% and 14.5%, respectively. Founded in 1968, Midea is a global technology group covering five business sectors. It has about 200 subsidiaries with more than 60 overseas branches and 10 strategic business units, whose products and services benefit more than 200 countries and regions around the world for over 400 million users. It was listed on the Shenzhen Stock Exchange on September 18, 2013. As of the close of trading on October 29, 2021, the company's share price edged up by 0.95% to CNY 68.77, with a market capitalization of CNY 480.2 billion, ranking first in the domestic white home appliances industry.
SZSE:000333
by EqualOcean
$NIO | WEEKLY WATCHLIST 11/1After an extremely frustrating and long corrective phase, I believe we are nearing the end of this. Looking for a dip to complete the wave 2 retracement and a very buyable zone from $35-37 as long as it holds. I see this as a major bottom and wave 3 to proceed with minimum target at $48.57. I still hold 2023 calls and will continue adding on dips (including this one if it plays out). My long term view of NIO is quite bullish and I believe it is lagging quite a bit against the rest of the EV sector. Don't be surprised to see this at new ATHs in 2022.
NYSE:NIOLong
by StonksSociety
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