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Provided by Dow Jones By Martin Mou Online travel platform Trip.com Group Ltd. shares rose in their Monday debut in Hong Kong, as China gears up for a busy travel season during the upcoming Labor Day holiday. Trip.com shares opened 4.85% higher and were last up 3.4% at 277.00 Hong Kong dollars, compared with their IPO price of HK$268.00 a share. The company raised around HK$8.33 billion (US$1.07 billion) in net proceeds from its offering in Hong Kong. Trip.com is the latest among U.S.-listed Chinese companies to tap the active fundraising market in the Asian financial center. The listing also comes as domestic travel in China is poised for further recovery, as more Chinese residents are vaccinated against the coronavirus under an accelerated government rollout. ....
Provided by Dow Jones By Martin Mou Geely Automobile Holdings Ltd. s shares soared in early trade on Friday after the Chinese auto giant launched the first model from its new electric-vehicle brand, Zeekr. Geely s Hong Kong-listed shares rose as much as 10% and were last 8.4% higher at HK$22.05, a sharp jump for the auto giant, whose stock price had slumped in recent weeks from a record high in late January. The company said the first Zeekr model 001 is positioned for the premium EV segment and the brand would also offer a fast-charging network and battery-rental services. The Zeekr 001 competes directly with Tesla Inc. s Model 3, Citi said. ....
Alibaba Shares Rise in Hong Kong Despite Record $2.8 Billion Fine morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Alibaba Shares Rise in Hong Kong Despite Record $2.8 Billion Fine — Update morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
By Martin Mou Chinese electric-vehicle startup XPeng Inc. will build its third manufacturing base in Wuhan, China, as it seeks to expand capacity to meet rising demand for EVs. The Wuhan plant will be able to produce 100,000 cars a year at maximum capacity, the company said Thursday. XPeng currently operates a plant in Zhaoqing, a city close to the company s headquarters in Guangzhou, where its second plant is under construction. Speaking of the decision to build a new plant in Wuhan, XPeng s chief executive He Xiaopeng said: Wuhan s strategic location as an auto manufacturing and distribution hub will further enhance our supply chain management, sales and distribution network in the future. ....