By
Reuters |
February 3rd 2021 at 09:22:18 GMT +0300
The Lenovo logo is seen in this illustration photo January 22, 2018. [Reuters]
China’s Lenovo Group, the world’s biggest maker of personal computers, posted on Wednesday a bigger-than-expected 53 per cent rise in third-quarter profit, helped by robust demand from people working from home as COVID-19 restrictions persisted. Net profit jumped to USD395 million for the October-December quarter. That beat an average estimate of USD293.7 million from eight analysts, according to Refinitiv data. Revenue increased 22 per cent to USD17.25 billion.
“The strong performance has been fueled by Lenovo’s robust growth across business groups as well as structural changes in lifestyle and work habits since the onset of the COVID-19 pandemic,” Lenovo said in a statement.
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At around 16:00 on February 1, 2021, Beijing time, the Chinese private space launch company i-Space’s Hyperbola-1 (Shian Quxian-1) rocket failed in its second launch in an attempt to orbit the small Fangzhou-2 (Ark-2) satellite from the Jiuquan Satellite Launch Center.
i-Space stated that the company will immediately investigate and review the cause of the failure to reset the launch mission.
This launch mission is the first failure of the world’s aerospace industry in 2021, and the third failure of Chinese private aerospace companies in recent years.
The LandSpace Suzaku 1 launched in October 2018 and OneSpace OS-M1 launch in April 2019 previously failed after numerous private space startups received venture funding in recent years.
KraneShares Launches First China STAR Market ETF, KSTR, in the U.S.
On Wednesday, Krane Funds Advisors, LLC, (“
KraneShares“), a global asset management firm known for its China-focused ETFs and innovative China investment strategies, announced the launch of the
KraneShares SSE STAR Market 50 Index ETF (KSTR) on the New York Stock Exchange.
KSTR tracks the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index. The Index comprises the 50 largest securities listed on SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.
As China has quickly become a world leader in innovation, the Shanghai Stock Exchange developed the STAR Market to promote China’s high growth publicly-listed science and technology companies. The STAR Market includes companies from industries such as new-generation information technology, biomedicine, new energy, and environmental protection.
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NEW YORK, Jan. 27, 2021 /PRNewswire/ Krane Funds Advisors, LLC, (
KraneShares ), a global asset management firm known for its China-focused exchange-traded funds (ETFs) and innovative China investment strategies, today announced the launch of the KraneShares SSE STAR Market 50 Index ETF (Ticker: KSTR) on the New York Stock Exchange (NYSE).
KSTR tracks the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index. The Index comprises the 50 largest securities listed on SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.
As China has quickly become a world leader in innovation, the Shanghai Stock Exchange developed the STAR Market to promote China s high growth publicly-listed science and technology companies. The STAR Market includes companies from industries such as new-generation information technology, biomedicine, new energy, and environmental protection.
Electric Car Wars: Tesla Faces New Chinese EV Maker
01/25/21 AT 10:38 AM
The Chinese car market is continuing to heat up and take another stab at rival Tesla, with the latest entrant getting a $3.35 billion boost in funding.
The electric car unit of Evergrande (0708.HK) raised funding through a share sale by issuing 952.38 million shares at $27.30 Hong Kong dollars each to six investors, sending its stock price surging over 67% on the Hong Kong Exchange, CNBC reported.
Evergrande raised net proceeds of 26 billion Hong Kong dollars ($3.35 billion) from the share sale, CNBC said. Investors now hold a 9.75 stake in the company, sending the EV unit’s valuation up from $17 billion to $151 billion, which Financial Times said was now higher than Ford’s current $45.8 billion valuation.