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BAIC BluePark and Huawei are developing an EREV variant of the Stelato S9 premium sedan to boost domestic sales, following disappointing initial deliveries of the electric model. The Stelato S9, built on BAIC's BE22 architecture, features multiple powertrain options and aims for a significant annual sales target. The EREV variant is expected to utilize a powertrain similar to that of the BAIC BJ60 Thunder SUV.
Chinese battery maker CATL is resuming operations at its lithium lepidolite mine in Jiangxi province, four months after a production suspension led to a surge in lithium stocks. UBS reported that the mine is currently operational, driven by low inventories and cost-cutting measures. CATL's share price rose 3.2% to 261.28 yuan per share, reflecting positive market sentiment.
Chinese battery manufacturer CATL has resumed operations at its lithium lepidolite mine in Jiangxi province, four months after production was suspended. UBS reported that the mine's reopening is expected to help alleviate low lithium inventories, as CATL adjusts its production strategy to blend lower-cost lepidolite with higher-quality ores. Following the announcement, CATL's share price rose by 3.2% on the Shenzhen Stock Exchange.
Chinese battery maker CATL is resuming operations at its lithium lepidolite mine in Jiangxi province, following a four-month suspension that had previously boosted lithium miners' shares. UBS noted that the decision was influenced by low inventories and cost-cutting measures, as CATL mixes production from the site with higher-grade ores. The company's share price rose 3.2% to 261.28 yuan per share, while lithium carbonate futures saw a slight increase.
Huawei's 2024 revenue reached 860 billion yuan ($118.1 billion), marking a 22% increase despite ongoing U.S. sanctions. The company has successfully re-entered the premium smartphone market with its Mate 60 series and is also expanding in cloud computing and autonomous driving technology, positioning itself as a leader in China's tech self-sufficiency efforts.
Huawei's revenue reached 860 billion yuan ($118.1 billion) in 2024, marking a 22% increase despite ongoing U.S. sanctions. The company has successfully adapted, particularly in the smartphone market, where it regained a significant share with its Mate 60 series, now ranking as the No. 2 brand in China. Chairman Howard Hua Liang noted that the ICT infrastructure will remain stable, and the smart car solution business is set for rapid development.
Novo Nordisk A/S focuses on the design, manufacture, and marketing of pharmaceutical products, with 92.6% of sales from diabetes and obesity treatments and 7.4% from rare disease therapies. Geographically, 54.9% of sales come from the United States, followed by Europe-Middle East-Africa at 21.9%, and other regions.
Asian stock markets fell sharply due to fears of a trade war following Trump's new tariffs on Canada, Mexico, and China, with Japan's Nikkei down 2.6%. The SMI also declined by 1.5%, while Julius Baer shares plummeted 13% amid austerity measures. The crypto market suffered significantly, with Bitcoin dropping 6% and Ether plummeting 26.5%, marking the steepest decline since 2021.
Huawei demonstrated strong performance in the Q4 2024 Chinese smartphone market, shipping 12.7 million units and capturing 16.9% market share, marking a 14.4% annual growth. In contrast, Apple faced a 7.1% decline, delivering 13 million iPhones and holding a 17.3% share. Vivo led the market with 13.2 million units and a 17.6% share, while Xiaomi, OPPO, and Honor followed in the rankings.
[Bloomberg]
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