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The Chinese State Council is seeking advice from some regulators and local governments on requiring local state-owned enterprises to buy unsold homes from developers at discounted prices to be used as social housing, Nomura noted in a report.
ZTO EXPRESS-W (02057.HK) +15.100 (+8.698%) Short selling $483.77M; Ratio 38.534% announced its results for 1Q24 ended March. According to US GAAP, revenue was RMB9.96 billion, up 10.9% YoY. Net profit attributable to ordinary shareholders was RMB1.426 billion, down 14.6% YoY. Basic EPS was RMB1.77.
The US House of Representatives Committee on Oversight and Accountability voted to send the Biosecure Act to the full House for a vote. The Bill must also be passed by the Senate and signed by the US President before it takes effect.
WUXI APPTEC (02359.HK) -0.100 (-0.242%) Short selling $51.31M; Ratio 7.285% learned that on 15 May 2024, the US House Committee on Oversight and Accountability voted to report to the House a draft bill H.R.8333, which is an amended version of the predecessor bill H.R.7085 for the proposed Biosecure Act. Bill H.R.8333 incorporates certain amendments including, among others, the removal of certain alleged findings against WUXI APPTEC and the addition of a “grandfather” clause that exempts existing contracts entered into before the effectiveness of the proposed restrictions.
TENCENT (00700.HK) +15.200 (+3.981%) Short selling $2.84B; Ratio 12.187% reported better-than-expected quarterly results, and opened 4.77% higher this morning. The stock peaked at $400.2, a new high since January 2023, and last advanced 4.66% to $399.6. Volume amounted to 15.5563 million shares, involving $6.208 billion.
TENCENT (00700.HK) +15.200 (+3.981%) Short selling $2.84B; Ratio 12.187% 's 1FQ24 operating revenue performance was in line with the market's expectation, and 2% ahead of Jefferies' estimation, Jefferies issued a research report saying. Gross profit margin was 52.6%, higher than the expectations of the market and Jefferies of 49.5%/ 48.1%, respectively.
BABA-SW (09988.HK) -2.950 (-3.569%) Short selling $1.05B; Ratio 11.908% (BABA.US) returned to growth with solid performance in FY2024, Goldman Sachs released a research report saying.
BABA-SW (09988.HK) -2.950 (-3.569%) Short selling $1.05B; Ratio 11.908% (BABA.US) 's 4FQ24 results ended March were in line with expectations, Macquarie released a research report saying. Taobao Tmall Group's GMV achieved double-digit YoY growth during the period, but CMR was dented by higher subsidies, with lagging performance.
CMBI highlighted in a report that BABA-SW (09988.HK) -2.950 (-3.569%) Short selling $1.05B; Ratio 11.908% (BABA.US) achieved a 6.6% YoY growth in revenue for 4FQ24 ended in March this year. Increased investment during the period helped drive improved user experience, GMV growth in domestic business and expansion of international business. Taobao Tmall Group achieved double-digit YoY growth in GMV, international commerce retail revenue hiked 56%, while AI-related cloud business revenue soared by triple digits.
US hedge fund manager Michael Burry's investment firm Scion Asset Management increased its investment in JD.com (JD.US) and Alibaba (BABA.US) in the first quarter, according to regulatory filings.