Stocks
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Nio shares plunge after Goldman downgrades to sell over valuation concerns
Shares of U.S.-listed Chinese EV maker Nio went down by more than 11 percent in early market trading after Goldman Sachs turned bearish on the company.
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SMIC's share price doubles in its debut on China's A-share market
Semiconductor Manufacturing International Corporation (SMIC), the biggest chipmaker on the Chinese mainland, made its debut on China's A-share market today, with its share price rising 201.97 percent to $82.92 by the close of trading. This brings SMIC's market capitalization to 591.752 billion yuan.
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SMIC shares to start trading on China A-share market on July 16
Semiconductor Manufacturing International Corporation (SMIC), the biggest chipmaker on the Chinese mainland, announced today that the company's shares will be listed on the Shanghai Stock Exchange's Sci-Tech innovation board (STAR Market) on July 16.
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Tencent's shareholding in Nio increased from 15.1% to 16.3%
Between June 10 and July 8, Tencent Holdings increased its stake in Chinese electric car maker Nio from 15.1 percent to 16.3 percent.
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Explainer: Meituan is Li Auto's second largest shareholder with 14.5% stake
Five-year-old Chinese EV player Li Auto filed a prospectus with the SEC yesterday in preparation for its listing on the Nasdaq under the symbol "LI". Once Li Auto goes public, it will become the second Chinese smart electric car company to go public in the U.S. after Nio.
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Jack Ma cuts Alibaba stake in big way, cashing out up to $6.1 billion
Between its Hong Kong IPO on November 26 last year and July 2 this year, Alibaba founder Jack Ma's shareholding in the company was reduced by over 233.86 million shares, bringing his shareholding to less than 5% for the first time.
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Tencent spends HK$14.2 billion on share incentive
Chinese social media and gaming giant Tencent Holdings announced on 10 July that it would issue 26.64 million new shares under its share award scheme to give more than 29,700 people incentive shares.
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Bilibili, China's YouTube traded in US, reportedly considers Hong Kong listing
Chinese video site Bilibili is considering a secondary listing in Hong Kong, Reuters reported on Thursday citing two people with direct knowledge of the matter.
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China's hot stock market raises demand for cloud services from brokers
In the past few days due to the sudden surge in trading volume in the Chinese stock market, Alibaba Cloud, or Aliyun has received expansion requests from several securities firms to address their app data delays and trading logjams.
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Sina shares surge 10 percent pre-market after receiving 'privatization' offer
Chinese online media company Sina has received a preliminary non-binding privatization offer of $41 per share. The company is up more than 10 percent pre-market, with its shares trading close to $41 on the news.