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Citi Research noted in a report that BIDU-SW (09888.HK) +2.500 (+2.306%) Short selling $463.68M; Ratio 24.693% (BIDU.US) 's 1Q24 results are in line with the broker's expectations, with total revenue up 1% YoY. Non-GAAP net profit elevated 22% YoY, beating Citi and consensus forecasts by 26% and 25% respectively.
JD-SW (09618.HK) +1.700 (+1.284%) Short selling $196.38M; Ratio 10.404% (JD.US) 's 1Q24 results beat the market's expectation, with earnings growing 17.2% YoY, over 20% higher than the market consensus, driven by a growth resumption in China's FMCG sector and accelerated growth in logistic service revenue during the period, BOCI issued a research report saying.
China Merchants Securities remarked in a report that TENCENT (00700.HK) +1.400 (+0.356%) Short selling $1.07B; Ratio 9.649% 's 1Q24 revenue rose 6% YoY, in line with expectations, driven by a 26% YoY increase in advertising revenue, a flat YoY increase in gaming, and a 9% rise in fintech and other businesses.
JD-SW (09618.HK) +1.700 (+1.284%) Short selling $196.38M; Ratio 10.404% (JD.US) 's 1Q24 revenue grew 7% YoY, about 1% ahead the market consensus, while non-GAAP net profit grew 17.2%, over 19% higher than the market's estimation, driven by a better-than-expected gross profit margin recovery pace during the period, Huatai Securities released a research report saying.
Ratings and target prices of 7 brokers on JD's HK-listed shares, JD-SW (09618.HK) +1.700 (+1.284%) Short selling $196.38M; Ratio 10.404% :
The HSI picked up 56 points or 0.3% to 19,433 at midday. The HSCEI gained 23 points or 0.3% to 6,894. The HSTECH hiked 27 points or 0.7% to 4,099. The total half-day turnover of the market amounted to $91.025 billion.
The following table lists the ratings and target prices of 7 brokers on BIDU-SW (09888.HK) +2.500 (+2.306%) Short selling $463.68M; Ratio 24.693% :
Jie Jiang, Vice President of TENCENT (00700.HK) +1.400 (+0.356%) Short selling $1.07B; Ratio 9.649% (TCEHY.US) , announced at the Tencent Cloud Generative AI Industry Adoption Summit that TENCENT will release a foundation model app called "Yuanbao" on 30 May.
Tesla (TSLA.US) wanted to use China's data to drive the global development of full self driving (FSD), Reuters quoted sources as saying. Therefore, the Company is working on a plan to build a data center in China to train the algorithm for FSD cars.
XPENG-W (09868.HK) +0.400 (+1.272%) Short selling $96.95M; Ratio 14.731% announced its entry into Hong Kong by signing a contract with Sime Darby Motors Group as a partner and authorising the latter to be the official distributor of XPENG for the Hong Kong market. Battery-electric smart car XPENG G6, battery-electric seven-passenger vehicle XPENG X9 and Flying Car Traveller X2 (by subsidiary XPENG AEROHT) officially debuted in Hong Kong.