Ant Group’s planned sale of up to $30 billion worth of shares is set to revive fortunes for Hong Kong Exchanges and Clearing Ltd (HKEX) which fell to the fifth rank as a destination for initial public offerings (IPOs) in the first half of 2020.

China’s dominant mobile payments firm and fintech arm of Alibaba Group Holding Ltd on Tuesday filed for a dual-listing in Hong Kong and on Shanghai’s STAR Market in what could be the world’s largest IPO.

The IPO comes as Beijing’s imposition of security law in Hong Kong and Washington’s consequent termination of some agreements with the territory has triggered questions about Hong Kong’s future as a financial hub.

Hong Kong was the world’s top listing venue in 2019, due to Alibaba’s $12.9 billion secondary listing there, but ranked third for IPOs, Refinitiv data showed. It was top for IPOs in 2018.

For IPOs in the first half of 2020, Hong Kong fell to fifth behind the Nasdaq, New York Stock Exchange, the year-old STAR Market and the broader Shanghai Stock Exchange.

Few large-sized IPOs are in the pipeline for rest of the year at Hong Kong’s rival bourses.

Ant has not disclosed how much it expects to raise in each of its Hong Kong and Shanghai offerings.

“Hong Kong provides access to international institutional investors and convertible currency, whereas Shanghai may allow broad participation by domestic investors,” said Drew Bernstein, co-chairman of advisory Marcum Bernstein & Pinchuk.

Technology companies account for 25.1% of Hong Kong’s benchmark Hang Seng Index by value, Hong Kong Stock Exchange (HKEX) data showed, from just 8.6% in 2015.

“The Hong Kong market is changing and internet giants are increasingly replacing property companies and financial institutions,” said capital markets consultant Philippe Espinasse.

HKEX declined to comment on Ant’s listing. When Ant announced its plans on July 20, HKEX Chief Executive Charles Li said the deal would affirm Hong Kong “as the world’s leading international IPO market”.

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Source: Reuters
 

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China on Tuesday launched the final satellite in its Beidou constellation that emulates the U.S. Global Positioning System, marking a further step in the country’s advance as a major space power.

The launch of the satellite onboard a Long March-3 rocket was broadcast live from the satellite launch base of Xichang, deep in the mountains of southwestern China, shortly before 10 a.m. About half an hour later, the satellite was deployed in orbit and extended its solar panels to provide its energy.

An initial launch scheduled for last week was scrubbed after checks revealed unspecified technical problems.

The third iteration of the Beidou Navigation Satellite System promises to provide global coverage for timing and navigation, offering an alternative to Russia’s GLONASS and the European Galileo systems, as well as America’s GPS.

China’s space program has developed rapidly over the past two decades as the government devotes major resources toward developing independent high-tech capabilities — and even dominating in fields such as 5G data processing.

The first version of Beidou, meaning “Big Dipper,” was decommissioned in 2012. Future plans call for a smarter, more accessible and more integrated system with Beidou at its core, to come online by 2035.

In 2003, China became just the third country to independently launch a crewed space mission and has since constructed an experimental space station and sent a pair of rovers to the surface of the moon.

Future plans call for a fully functioning permanent space station and a possible crewed flight to the moon, with its first attempt to send an orbiter and rover to Mars possibly coming as early as next month. If successful, it would be the only other country besides the U.S. to land on Earth’s closest planetary neighbor.

The program has suffered some setbacks, including launch failures, and has had limited cooperation with other countries’ space efforts, in part because of U.S. objections to its close connections to the Chinese military.

Huawei has ranked 49th on the Fortune Global 500 list in 2020. This is the first time that the telecommunications giant breaks into the top 50, continuing a multi-year track record of acceleration.

“Huawei’s net profit rose 5.6% in 2019, and revenue grew a further 13.1% year-on-year in the first half of 2020, despite the company’s persistent geopolitical entanglements,” said the Fortune report. 

Earlier this year, Huawei has ranked No. 6 in Boston Consulting Group’s list of the 50 Most Innovative Companies in 2020, moved up by 42 places than last year, which was the highest-ranking for the tech giant since it first made the list in 2012.

The Fortune 500 list ranks companies according to their revenue and profit, focusing on the size of the companies compared with other lists. The Fortune 500 rankings have become an important indicator that renowned companies use to measure their own strengths, size, and international competitiveness, a parameter of the global economy that transcends beyond borders, nationality, and cultural differences.

In the global fight against Covid-19, HUAWEI doubled down innovation efforts and launched the Anti-COVID-19 Partner Program focused on enhancing AI, remote office, smart healthcare, and online education.

“The complex external environment makes open collaboration and trust in global value chains more important than ever. Huawei has promised to continue fulfilling its obligations to customers and suppliers, and to survive, forge ahead, and contribute to the global digital economy and technological development,” said Huawei when announcing its 2020 H1 business results in July.

In the top five global companies as ranked by Forbes, three are Chinese, one from the US while one is Anglo-Dutch. Retail major Walmart from the US tops the 2020 list followed by three Chinese companies: China state-owned petroleum and chemical giant Sinopec Group, China’s state-owned power company State Grid, and China National Petroleum Corp (CNPC). The Anglo-Dutch oil and gas multinational Royal Dutch Shell was fifth on the Fortune magazine’s 2020 list.

Huawei in Nepal

Huawei Nepal has been serving for 21 years in Nepal ICT industry. Since 1999, Huawei brought 2/3/4G Technologies and Solution to Nepal, helped telecom operators to quickly deploy the communication network, including in the remote area, enhancing the quality of telecommunication service, building the physical foundation of “Digital Nepal”. More than 28 million population of Nepal are benefiting from Huawei`s solution. In local contribution, Huawei created 10,000+ jobs directly and indirectly from the past 21 years in Nepal. In 2015.

Huawei helped Nepal Government and telecom operators to quickly recover the network after the earthquake, made a great contribution to the disaster rescue by making telecommunication smoothly. Huawei also helped the telecom operators to build the wireless base station site in Everest Base Camp, which help to connect the communication blind spot to the outside world completely. In the future, Huawei will continue to dedicate to Nepal, to bring more technology like 5G, cloud and AI to build a better Digital Nepal. 

 

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Gionee has unveiled a new smartphone in China called K3 Pro. It has Dual Nano Slots and comes with oddly placed rear mounted fingerprint sensor.

The phone boots on outdated Android 9.0 Pie OS. It has 6.53-inch IPS LCD screen with HD+ resolution and boasts 90% screen-to-body ratio. It has octa-core Mediatek Helio P60 SoC inside.

The Gionne K3 Pro specs include 6GB / 8GB RAM variants with 128GB built-in storage space. There is microSD card support for further storage expansion. At the front side of this smartphone is a 13MP selfie camera.

At the back side is 16MP main auto focus camera. Gionee has left out details of its other shooters. A 4000mAh battery powers the hardware and supports 10W charging.

Gionee K3 Pro specifications

It has a Dimensions of 164.3 x 77.6 x 9.7 mm with weight 205 grams and Dual Nano SIM Slots. It comes with biometrics fingerprint sensor and operating system of Android 9.0. The display of the phone is 6.53-inch In-cell IPS LCD with 1600 x 720 pixels resolution, 20:9 aspect ratio, 234ppi pixel density, multi-touch support, 90% screen-to-body ratio and Octa-core MediaTek Helio P60 processor with Mali-G72 GPU Chipset. It contains 6GB / 8GB of RAM and 128GB built-in Storage. It has front camera of 13MP with F/2.0 Aperture and rear cameras 16MP (main, AI, Auto Focus, F/2.0, 5P Lens) + incomplete details and 4000mAh with 10W charging battery backup. It contains  Dual 4G VoLTE, Wi-Fi 802.11 b/g/n, Wi-Fi Hotspot, Bluetooth V4.0, GPS, USB Type-C, 3.5 audio jack connectivity.

The Gionee K3 Pro 6GB RAM variant price is 699 Yuan (US$ 101 / Rs. 7490 approx.) while its 8GB RAM model costs 899 Yuan (US$ 130 approx.) . It comes in Jade Green and Pearl White colors. It will go on sale on sale in China soon.

 

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