Stocks

China’s largest AI firm SenseTime is exploring a dual listing in Hong Kong and the Chinese mainland as it closes in on $1.5 billion of pre-IPO financing, Bloomberg reported Thursday citing people familiar with the matter.

Chinese social media and gaming giant Tencent posted a net profit of CNY33.11 billion in the second quarter, beating market expectations of CNY27.29 billion, the company's second-quarter earnings report released today showed.

A report on Monday about Luckin Coffee sent the company's shares soaring in the US Over-The-Counter Pink Sheet Market. For a company that's been embroiled in a financial fraud scandal, is it coming back to life?

On August 7, the US, citing the possibility of WeChat capturing personal and proprietary information of users in the US, asked that anyone be banned from conducting any WeChat-related transactions with Tencent and its companies for 45 days from the date of the order.

Luckin Coffee, mired in financial fraud, is showing more and more signs of moving towards profitability.

Chinese EV maker Xpeng Motors, backed by Alibaba and a major rival of Tesla in China, has filed for a US IPO and is expected to list on the New York Stock Exchange under the symbol "XPEV" as soon as August.

NIO will report its second-quarter 2020 results on August 11, before US stock markets open.

Just a week after its IPO, Li Auto's market capitalization is approaching that of NIO, which has been traded on the US market for nearly two years.

The analysts of Bernstein have rated Li Auto, a Chinese EV maker that went public one week ago in the US, with an outperform rating in their initial coverage.

Chinese investment bank CICC raised its price target on NIO as the Chinese EV maker added a record number of new orders in July.