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Xiaomi Denies as Rumors Swirl That It Plans to Acquire Stake in Evergrande NEV
Earlier today, rumors spread that Xiaomi EV was planning to acquire a 58.5 percent stake in Evergrande NEV in order to use the latter's existing factories to address its capacity issues.
Passenger Federation: Retail sales of 574,000 NEV vehicles increased 27% year-on-year on May 1-26
On May 29, according to data from the Passenger Federation, the NEV market retailed 574,000 vehicles from May 1 to 26, an increase of 27% over the previous year, and an increase of 2% over the same period last month.
CPCA Expects China's May NEV Retail at 770,000, Penetration at Record 46.6%
China's overall passenger vehicle retail sales in May is expected to be around 1.65 million units, down 5.3 percent year-on-year, the CPCA said.
China Automobile Dealers Association: From May 13 to May 19, the average daily trading volume of the used car market was 60,300 vehicles, down 5.53% month-on-month
In the third week of May (May 13 to May 19), the average daily trading volume of the used car market was 60,300 vehicles, down 5.53% from last week and 8% from the same period in April.
Hong Kong Stock Announcement Nuggets | Kuaishou-W's adjusted net profit for the first quarter was 4.388 billion yuan, up 10347.6% year-on-year, and e-commerce business GMV reached 288.1 billion yuan
Kuaishou-W (01024) plans to buy back the company's Class B common shares worth no more than HK$16 billion within the next 36 months; Jinshan Software (03888) announced first-quarter results, and shareholders' profit of $285 million increased 48% year over year
GLONGHUI ANNOUNCEMENT SELECTION (HK Stocks) | HK$16 billion! Kuaishou officially announced a major repurchase plan
[Today's Focus] HK$16 billion! Kuaishou officially announced a major repurchase plan on May 22. After Kuaishou released its results for the first quarter of 2024, Kuaishou officially announced the launch of a new round of stock repurchase plans. According to the announcement, Kuaishou plans to repurchase shares with a total value of not more than HK$16 billion over the next three years after the 2024 shareholders' meeting. Kuaishou's HK$4 billion repurchase plan launched in May last year will expire at the shareholders' meeting in June this year. Up to now, the company has repurchased Class B shares worth HK$3.09 billion. Kuaishou pointed out in its announcement that the share repurchase shows that the company has full confidence in its business outlook and prospects.
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