China’s Ministry of Commerce announced measures to increase financial support for export enterprises and maintain the yuan’s stability at a reasonable, balanced level. The Export-Import Bank of China has been instructed to expand credit offerings to better meet diverse financing needs across trade sectors.
$BABA-W (09988.HK)$ $PDD Holdings (PDD.US)$ $JD-SW (09618.HK)$ $Hang Seng TECH Index (800700.HK)$ $Hang Seng Index (800000.HK)$ $KraneShares CSI China Internet ETF (KWEB.US)$ $NASDAQ Golden Dragon China (.HXC.US)$

Baidu’s Q3 net profit rose 17% YoY, driven by robust AI cloud business growth, while total revenue declined.
Non-advertising revenue improved, supported by strong performance in core businesses.
Baidu’s Wenxin model now averages 1.5 billion daily API calls, a 30-fold increase over the past year.
$Baidu (BIDU.US)$ $BIDU-SW (09888.HK)$ $KraneShares CSI China Internet ETF (KWEB.US)$ $ChatGPT (LIST1347.HK)$

$PDD Holdings (PDD.US)$ reported Q3 revenue of RMB 99.35 billion, up 44% YoY, and net profit of RMB 24.998 billion, up 61% YoY but down 22% QoQ. Commission income surged 72% to RMB 50 billion.
Co-CEO Zhao Jiazhen acknowledged that operational limitations and historical team constraints have created disadvantages compared to peers, which are expected to persist for some time. He emphasized the importance of long-term ecological ...

But i think there’s an ongoing trend of mainland consumers opting for local bands/products and shunning foreign.
From iPhones and Teslas to minivans and Frappucinos, people appear to be seeing the value of spending less for the same.
$Apple (AAPL.US)$ $Huawei Hongmong (LIST0795.SH)$ $Tesla (TSLA.US)$ $XIAOMI-W (01810.HK)$

CHINA'S SMARTPHONE SALES DECLINE 9% Y/Y DURING SINGLES' DAY 2024.
HUAWEI'S SALES INCREASE BY 7% Y/Y, WHILE HONOR AND APPLE EXPERIENCE DOUBLE-DIGIT Y/Y DECLINES.
$Huawei Hongmong (LIST0795.SH)$ $XIAOMI-W (01810.HK)$ $Apple (AAPL.US)$ $Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$

$Tesla (TSLA.US)$ is offering Model 3s for the equivalent of $41,800. That’s cheaper than $BYD COMPANY (01211.HK)$ ’s Seal EV at $43,900.
But in China, the Seal sells for just $25,000 vs. the Model 3’s $32,000 price tag.
Both units are imported from…. CHINA.
EVs have ZERO TARIFFS in the Philippines. Dealers are marking up BYD to offset the lost revenue due to less need for regular maintenance where they usually gouge owners. Im surprised Tesla is selling at a disco...

$Kingsoft Cloud (KC.US)$
Revenue +16% to $268.7 million (BEAT vs. $268.3 est.)
Adjusted EPS -$0.62 (MISS vs. -$0.15 est.)
Metrics:
Gross profit +54.6% to $43.2 million
Non-GAAP EBITDA of $26.4m vs. -$6.4m YoY
Non-GAAP EBITDA margin of 9.8% vs. -2.8%
AI accounted for 31% of public cloud revenue
Public cloud rev +15.6% to $167.5m
Enterprise cloud rev +16.7% to $101.2m
Outlook:
For the fourth quarter of 2024, thanks to the parallel two drivers of both public cloud and ente...

But seriously, a lot of this recovery from awful premarket is thanks to the meat of the analyst briefing.
☑️Doubling sales in 2025 ‼️
☑️Target for profitability in full year 2026 ‼️
☑️Firefly launch and deliveries in 1H25
☑️Onvo & Firefly to spearhead overseas push
☑️Switch to new gen platform in 2025
☑️Onvo to launch 2 SUVs in 2025
☑️MENA store to launch end-Nov
☑️FCF turned positive in Q324 ‼️
$NIO Inc (NIO.US)$ $NIO Inc. USD OV (NIO.SG)$ $NIO-SW (09866.HK)$

$NIO-SW (09866.HK)$ forecasted record highs for Q4, with delivery guidance of 72,000–75,000 units, a YoY growth of 43.9%–49.9%. Revenue guidance was set at RMB 19.68 billion–20.38 billion, marking a YoY increase of 15.0%–19.2%.
$NIO Inc (NIO.US)$ $NIO Inc. USD OV (NIO.SG)$ $Tesla (TSLA.US)$ $BYD COMPANY (01211.HK)$ $BYD Company Limited (002594.SZ)$ $XPeng (XPEV.US)$ $XPENG-W (09868.HK)$

Wu Qing emphasized that the China Securities Regulatory Commission (CSRC) will continue to improve rules on share reductions, quantitative trading, and securities lending while promoting fairness and regulated development. He affirmed that the underlying logic of long-term market optimism remains solid.
$BABA-W (09988.HK)$ $TENCENT (00700.HK)$ $Hang Seng TECH Index (800700.HK)$ $Hang Seng Index (800000.HK)$ $KraneShares CSI China Internet ETF (KWEB.US)$