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South China Morning Post
2 days ago
- Business
- South China Morning Post
China's Unitree eyes pre-IPO fundraising, valuing robot maker up to US$2 billion: report
Advertisement Hangzhou -based Unitree's latest financing initiative would value the company between 10 billion yuan and 15 billion yuan (US$1.4 billion and US$2.1 billion), Chinese digital media outlet Sohu Tech reported on Friday, citing sources. That would follow Unitree's restructuring last week, when it changed from a limited liability company into a joint stock limited firm, according to Chinese corporate database Tianyancha. A joint stock limited structure lets a company issue and transfer shares, allowing it to raise more capital as it scales up its operations. This move appears to put the firm another step closer to going public on mainland China's stock exchanges. In a letter to business partners, Unitree said the conversion into a joint stock limited company was done to address the firm's 'development needs', according to a report by the state-owned financial newspaper Securities Times. Advertisement Unitree did not immediately respond to a request for comment on Friday about its latest effort to generate new investment.
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Business Standard
5 days ago
- Business
- Business Standard
China cracks down on illegal mining amid escalating US trade tensions
China, rich in critical minerals, is intensifying enforcement of stricter export regulations to maintain its global dominance in this vital sector. This move comes amid rising pressure from the United States, according to a report by the South China Morning Post. As the world's largest producer of critical minerals, China supplies about 92 per cent of the refined rare earth elements used in consumer electronics, electric vehicles, and advanced defence systems. Under new export controls, companies must now obtain approval from Chinese authorities before shipping these minerals abroad. Regions step up action against illegal mining in China Provinces such as Guangxi Zhuang autonomous region, Guizhou, and Hunan have begun rigorous inspections of exporters and intensified crackdowns on illegal mining. These efforts align with Beijing's directive for tighter 'whole-chain' oversight of strategic mineral exports, according to the state-owned Securities Times. Hunan province will identify all strategic mineral exporters and assist them in improving compliance, while Guangxi plans to step up supervision of mining activity and target unlicensed or unauthorised extraction. In Guangxi and Guangdong, the cities of Wuzhou and Yunfu have established a cross-regional system to jointly combat illegal mining. Stronger control follows US tech restrictions China's moves come as it seeks to strengthen its grip on critical mineral supplies, a key bargaining chip in its complex relationship with the US. Recent US restrictions on jet engine and chip design technologies have further strained bilateral ties. On May 12, China's Ministry of Commerce and other government bodies instructed local officials in mineral-rich regions to enhance control over every stage of the mineral supply chain. The government urged a 'preventive' strategy involving closer monitoring, improved information sharing, and tougher enforcement to curb illegal exports, the South China Morning Post reported. US-China talks in Geneva fail to lift export curbs Following US-China discussions in Geneva on May 10–11, Beijing was expected to lift export controls imposed on April 4 that require permits for seven critical minerals. However, China has yet to confirm any rollback of these restrictions, prompting the US to accuse it of reneging on its Geneva commitments. White House spokeswoman Karoline Leavitt said on Tuesday that US President Donald Trump and President Xi Jinping are expected to speak this week, with China's export limits set to feature prominently. She added that Washington is 'actively monitoring China's compliance with the Geneva trade agreement'. US invokes Defence Production Act In response, the US is preparing to ramp up domestic production of critical minerals. Reuters reported that President Trump intends to invoke emergency powers under the Defence Production Act to bypass some congressional funding requirements. Diplomats, automakers, and business leaders from India, Japan, and Europe are reportedly seeking urgent meetings with Chinese officials to expedite approvals for rare earth magnet exports. China's customs data showed that exports of permanent rare earth magnets to the US fell by 58.5 per cent year-on-year to 246 tonnes in April, reflecting heightened trade tensions. ALSO READ:
South China Morning Post
5 days ago
- Business
- South China Morning Post
Crackdown on illegal mines as China tightens critical mineral controls amid row with US
Parts of China that are rich in critical minerals are stepping up enforcement of tighter export controls as the country doubles down on its dominance of world supplies in the face of increasing pressure from the United States. China, the world's biggest producer of critical minerals, supplies 92 per cent of the refined rare earth elements that are essential in the production of consumer electronics, electric vehicles and hi-tech defence systems. Its export controls mean companies must obtain regulatory approvals from Chinese authorities before shipping such minerals overseas. Authorities in places such as the Guangxi Zhuang autonomous region and the provinces of Guizhou and Hunan have been inspecting exporters' operations and cracking down on illegal mining as they implement a directive from Beijing that called for tighter 'whole-chain' control over strategic mineral exports, the state-owned Securities Times reported on Monday. The moves come as Beijing continues to tighten its grip on global critical mineral supplies – a long-held ace in its dealings with Washington – after new US curbs on jet engine and chip design technology reignited bilateral tensions. Securities Times said Hunan, in Central China, has pledged to map out all its strategic mineral exporters and help them strengthen their compliance systems and ability to follow export rules. Guangxi, in South China, has vowed to step up supervision on the mining and exploration side, cracking down harder on illegal activities such as unlicensed extraction and mining outside approved areas. Two cities, Wuzhou in Guangxi and Yunfu in Guangdong province, have established a cross-regional coordination mechanism to crack down on illegal mining, the newspaper said.
Bloomberg
13-05-2025
- Business
- Bloomberg
Chinese Solar Stocks Surge on Reports of Planned Output Cuts
Chinese solar stocks jumped on Tuesday after local media reported a major firm was in talks with peers about an industry-wide output cut in a bid to support prices that have hit rock bottom due to oversupply. Shares of Tongwei Co. rose as much as 10% during morning trading, while Xinjiang Daqo New Energy Co. was up 20% after Securities Times reported, without naming any companies, that a leading polysilicon producer had 'communicated' with several other firms about cutting supply. It's unknown if the production pause would be implemented, the newspaper said.
Yahoo
17-03-2025
- Business
- Yahoo
Citi Reaffirms Buy Rating on NVIDIA (NVDA), Eyes New Chip Launch at Upcoming GTC
We recently published a list of Top 10 AI News Updates to Catch Up on This Weekend. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other AI stocks that are our list of top AI news updates. Artificial intelligence models are often criticized for 'hallucination', but they are also being used deliberately to spread misinformation. In recent news, China's securities watchdog has said that it is going to be working with the police and cyberspace regulators to crack down on those who are disseminating false news. The move comes amid the increasing need for monitoring fake information in the stock market which is made quite easy due to artificial intelligence. Regulators will "hit early, hit hard, and hit at the heart" of the issue. - Securities Times. In a separate article, Shanghai Securities News described how artificial intelligence is being used to create and spread misleading information in an attempt to con investors or manipulate stocks. Investors are being lured by get-rich-quick schemes. However, they should stay wary of such bad actors leveraging the hype around technological advancements to lure them into schemes. READ ALSO: and Any claims of high and guaranteed investment returns with little or no risk are known to be classic warning signs of fraud. Even though the emergence of DeepSeek has been motivating investors and fund managers to embrace AI, their adoption of technology also raises the chances of them being scammed at the hands of it. Anything from cloned voices to altered images and fake videos can be used to spread investment misinformation. In order to combat the spread of misinformation, the China Securities Regulatory Commission said that it would be proactive in dispelling stock market rumours. They will do this by issuing clarifications and boosting investor education and guidance to "enhance investors' ability to spot" fake information. According to the DC Department of Insurance, Securities and Banking (DISB), some warning signs of a fake actor/promoter are their lack of registration status. To avoid falling victim to it, users can use the website to confirm the registration status of investment professionals and check for disciplinary history. Moreover, it's reasonable to work with a registered investment professional and on a registered exchange. For added assurance, the authenticity of underlying sources should be checked and multiple sources of information should be reviewed before making investment decisions. For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points ().NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services. On March 12, Citi analysts reiterated their Buy rating and $163.00 price target for the stock ahead of the company's upcoming GPU Technology Conference (GTC). 'Stock specific, risk/reward looks attractive with stock trading below historical P/E trough of 19x and now fully derisking ~28% sales exposure to both China and Singapore on AI diffusion rules per our math. That said, we believe investors are looking for a clearance event on the AI restrictions and tariffs impact to gross margins, which we don't believe Nvidia is in a position to comment currently.' Concerning the conference, Malik is anticipating Nvidia to officially unveil its Blackwell 'Ultra' (B300) chip, along with the GB300. Investors are likely keen on learning more about the next-generation Rubin chip. 'While no further details on the chip or its architecture were provided, we think that given recent management comments, Vera-Rubin will be a strong step up from Grace-Blackwell, particularly on the inference front.' Overall, NVDA ranks 4th on our list of AI news updates to catch up on. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and Sign in to access your portfolio
