Chinese ADRs & ETFs jumped on Thursday. Li Auto up over 6%; Alibaba up 5%; NIO up 4%; Pony AI, GDS Holdings, Bilibili up over 3%.
Alibaba is preparing to list its chipmaking arm, T-Head, Bloomberg News reported on Thursday, citing people familiar with the matter.
As a first step, Alibaba plans to restructure the unit as a business partly owned by employees before exploring an initial public offering, the report said.
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