Niu Passes 1 Million Scooter Milestone on Surging Overseas Sales

Electric scooter maker’s international sales more than double in the fourth quarter, even as its domestic growth slowed sharply amid rising competition Key takeaways: Niu Technologies’ domestic sales growth slowed to 49% in the fourth quarter, even as international sales surged on strong demand for its new kick scooter models Company’s shares sank 5% after release of the fourth-quarter data, though stock still remains relatively strongly valued compared with peers By Doug Young The latest quarterly update issued Wednesday by electric scooter maker Niu Technologies (NIU.US) looks quite encouraging at…

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Good Concept, But Bad Timing? Rare Earth Producer JL Mag to List in HK

The state-owned maker of high-performance rare earth materials will complement its A-shares with a new float in Hong Kong Key takeaways: Rare earths producer JL Mag plans to raise up to $650 million through a Hong Kong IPO by selling shares at a discount of up to 39% to its A-share price Analysis suggests U.S.-China trade frictions may limit the stock’s post-IPO upside potential By Jony Ho Rare earths, a collective name for 17 metallic chemical elements, are widely used in a range of important fields, from defense to communications…

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JinkoSolar Trumpets Hydrogen Alliance With State-Run Behemoth Sinopec

Company will supply solar panels to power a demonstration project to manufacture clean-burning hydrogen fuel Key Takeaways: JinkoSolar has announced its solar panels will power a demonstration project with Sinopec to produce clean-burning hydrogen fuel Tie-up could provide new future revenue, but looks more like an important PR exercise to show JinkoSolar is helping Beijing to achieve its carbon-reduction targets By Doug Young As we head in 2022, a new announcement from solar panel giant JinkoSolar Holding Co. Ltd. (JKS.US) looks interesting as much for its format as its content.…

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Successful Test Puts TuSimple in Fully Autonomous Driver’s Seat

Company completes what it calls the first fully automated heavy truck driving test on real roads using self-developed system Key takeaways: TuSimple says it has completed the world’s first fully automated test of a self-driving heavy truck JPMorgan sees the company’s success as a major milestone, but has given it a “hold” rating By Fai Pui Three days before the New Year, TuSimple Holdings Inc. (TSP.US) uploaded a 1-hour, 23-minute video of a heavy truck departing from a railroad near the U.S. city of Tucson, Arizona at night. The footage…

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Nanjing Hanrui Launches HK Listing Despite Fading Future for Cobalt

Company forges ahead with new IPO, even as the metal that’s its big bread winner is being phased out of many EV car batteries Key takeaways: Cobalt producer Nanjing Hanrui has applied to list in Hong Kong for a second time The company’s core products could face headwinds as names like Tesla and Nissan strive to use cobalt-free batteries in their EVs By Jony Ho Known by the symbol “Co” on the periodic table, cobalt may be relatively unfamiliar to most. But the silvery gray metal has boomed in recent…

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Fading Canadian Solar Hopes to Fire Up Turnaround With STAR Market IPO

The solar panel maker has received approval for an IPO on China’s Nasdaq-style STAR Market, with plans to raise more than $600 million Key takeaways: Canadian Solar is aiming to raise more than $600 million with an A-share IPO in China to expand capacity Solar panel maker is expected to lose money this year, lagging its peers, after it failed to make a key transition quickly enough By Fai Pui “Canadian Solar doesn’t want be the biggest in the solar industry. We just want to be the last one standing.”…

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Daqo Eyes Product, Geographic Diversification With Massive Expansion

Company will spend $1.3 billion on first phase of a major new production base in Inner Mongolia that will ultimately triple its polysilicon capacity Key Takeaways: Daqo has announced a major new investment, reportedly worth $5.2 billion, that will triple its polysilicon production capacity Move will diversify the company beyond its politically sensitive Xinjiang base, and also add several related silicon products to its mix By Doug Young  There are a few different ways to look at the announcement of a massive new investment this week by polysilicon maker Daqo…

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Kaixin’s Electric Vehicle Bet Wins Major Customer as It Shifts Gears to Manufacturing

Shares in operator of used car dealerships surge after it wins a $500 million order for its new electric vehicle-making business Key takeaways: •      Kaixin said it won a $500 million order to sell 10,000 electric trucks to an automotive logistics company over the next five years •      The deal comes months after the struggling Kaixin expanded into electric vehicles by acquiring a manufacturer and changing ownership By Warren Yang Used car dealer Kaixin Auto Holdings (Nasdaq: KXIN) wants to reignite growth by powering into electric vehicle (EV) manufacturing. That…

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Svolt Charges Up Global EV Battery Race with $943 Million in New Funding

Latest round brings 3-year-old battery maker’s fundraising this year to $3.1 billion, all from Chinese sources Key points: Svolt Energy has just announced a new 6 billion yuan funding, bringing its total this year to nearly 20 billion yuan State-owned company has raised its target to 600 GWh of capacity by 2025, up sixfold from a 100 GWh target announced just a year ago By Doug Young Watch out world, here comes Svolt. The name may not be familiar to many, but China’s recently minted electric vehicle (EV) battery maker,…

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Tat Hong Stretched by Rising Labor Cost, Awaits Carbon-Neutral Building Boom

The construction equipment provider’s profit fell in its latest reporting period, stretched by rising labor costs, but its current large-scale contracts are reason for optimism Key Takeaways: Tat Hong’s profit fell by 37.8% in the six months through September The company announced a special dividend of HK$0.03 per share in a move to placate investors By Jony Ho The term “tower crane” may be unfamiliar to most. The term refers to a fully rotating jib crane with a “tower structure” that can move building materials quickly in rising, traversing and…

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