2024 Annual Results Express Announcement

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Single-quarter revenue surged by 820%! Cambrian Technologies achieved its first profit in Q4, could the leader in AI Chips make a comeback?

Impressive growth, improvement in losses.

Gelonghui Finance07:16 ET

Express News | Cambricon Technologies Says Prelim 2024 Net Loss at 443.2 Mln Yuan

Reuters06:04 ET

Major bank rating | CMB International: Alibaba significantly increases capital expenditures, benefiting domestic AI infrastructure suppliers.

Alibaba announced plans to invest at least 380 billion yuan in building Cloud Computing and AI infrastructure over the next three years, with the expected investment scale surpassing the total of the past decade. CMB International released a Research Report stating that estimated capital expenditure by Alibaba from 2026 to 2028 could reach approximately 120 billion yuan per year. It is expected that Cloud Computing Service providers in China are trying to accelerate their investment in Cloud Computing infrastructure to catch up with overseas peers, and it is believed that Alibaba's increased capital expenditure will benefit domestic AI infrastructure supply chain companies. Additionally, ByteDance recently announced a capital expenditure plan exceeding 150 billion yuan by 2025. CMB International anticipates.

Gelonghui FinanceFeb 24 21:37 ET

Alibaba's performance and commitment to AI spending boost confidence, leading Hong Kong's main Index to rise to about a three-year high.

Fueled by Alibaba's strong performance, the Hong Kong stock market regained its upward momentum on Friday, leading gains in Asia. The Hang Seng TECH Index closed up over 6.5%, and A-shares also rose, driven by the Technology Sector. The Hang Seng TECH Index recorded its largest increase since early October last year, while the Hang Seng Index and Hang Seng China Enterprises Index rose by around 4%, reaching approximately three-year highs. Alibaba's Hong Kong stock followed the overnight gains of Chinese concept stocks, rising nearly 15% to a three-year high, with trading volume reaching a historic peak. The SSE Science and Technology Innovation Board 50 Index in A-shares surged nearly 6%, marking the largest increase in over four months, with leading gains from computing stocks like Cambricon and Hygon Information, as Alibaba indicated future intentions.

Global Market BroadcastFeb 21 03:48 ET

Cambricon Technologies Corporation Limited's (SHSE:688256) Most Bullish Insider Is CEO Tianshi Chen, and Their Holdings Value Went up by 17% Last Week

Simply Wall StFeb 11 21:03 ET