China Tech Digest: China Telecom Says Chip Shortage Won’t Impact 5G Roll Out; Chinese EV Makers NIO, Li Auto, Xpeng Plan Hong Kong Listing


China Telecom responds to chip shortage: 5G deployment will not be affected

Liu Guiqing, deputy general manager of China Telecom, said at the performance meeting that from the current situation, the chips related to our 5G network equipment and the chips required for 5G mobile phones will not be affected in 2021.

There is absolutely no need for investors to worry about 5G equipment in 2021 and it will not be affected by the so-called chip shortage at present. The company is still confident that it can complete the construction tasks on schedule.

Baidu passes the Hong Kong Stock Exchange listing hearing

According to the Hong Kong Stock Exchange documents, Baidu passed the Hong Kong Stock Exchange listing hearing and its IPO should be completed soon.

10% of Apple iPhone 12 production capacity transferred to India with Foxconn and Pegatron as OEM

According to media reports, Apple is preparing to transfer 10% of the iPhone 12’s production capacity to India, and its manufacturing partner Foxconn is also preparing for assembly operations in India to meet the needs of India’s domestic and export markets.

Apple currently produces iPhone 11 and iPhone XR in India, but it is rumored that it has begun to promote plans to produce iPhone 12 in India.

Himalaya FM responded to "planning to go to the US for IPO": currently there is no clear listing plan

It is reported that Himalaya FM, an audio content distribution platform in China, plans to go to the United States for an IPO and plans to raise up to 1 billion US dollars. In this regard, Himalaya FM said: There is currently no clear listing plan.

The price of Autohome listed in Hong Kong is 5.5% discount to the US ADS

The price of Autohome listed in Hong Kong is 5.5% discount to the US ADS.

GAC Group responds to joint vehicle manufacturing with Huawei: specific progress will be announced at an appropriate time

Huawei and GAC have started to jointly develop the next generation of smart electric vehicles. In response, GAC Group responded that: Since 2017, GAC Group has signed strategic cooperation agreements with Huawei twice.

In 2017, the two parties signed a strategic cooperation agreement to carry out strategic cooperation in the field of intelligent and connected electric vehicles. In September 2019, a deepened partnership was signed and focused on computing and communication architecture. The companies will announce the specific cooperation progress at an appropriate time.

Xpeng Motors, NIO and Li Auto are considering listing in Hong Kong as soon as this year

China’s EV makers including Xpeng Motors, NIO and Li Auto are considering listing in Hong Kong as soon as this year; the three major Chinese electric car manufacturers aim to sell at least 5% of their enlarged share capital in Hong Kong.

In 2021, the central government will support the creation of 50 new national modern agricultural industrial parks

The General Office of the Ministry of Agriculture and Rural Affairs and the General Office of the Ministry of Finance issued a notice on coordinating the application of agricultural industry integration development projects in 2021.

The notice proposes that in 2021, the central government will support the creation of 50 new national modern agricultural industrial parks, 50 advantageous and characteristic industrial clusters, and 300 strong agricultural industrial towns.

It is reported that the iPhone lens supplier Lianyungang Kantatsu Fine Technology plans to sell its Chinese factory

According to media reports, iPhone lens supplier Lianyungang Kantatsu Fine Technology plans to sell its Chinese factory.

Sources say that Gap is considering selling its Chinese business due to poor sales

According to people familiar with the matter, Gap is considering potential options, including the sale of its Chinese business, to adjust its operations in China.

People familiar with the matter said that Gap is working with a consultant to research various options and has contacted potential buyers to assess acquisition interest.

The relevant negotiations are still in the early stages, and the company may also decide to retain this business.

 
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