For this week (through 04/21), $S&P 500(.SPX)$ index is down 0.1%, $NASDAQ(.IXIC)$ index is down 0.4%, China A-Shares ETF $X-trackers Harvest CSI 300 China A-Shares Fund(ASHR)$ is down 2.0%, China Internet ETF $CSI China Internet ETF(KWEB)$ is down 2.0%.
Company
$Alibaba(BABA)$ : China considering fine of CNY 5B vs initial CNY 6.87B on Ant Group (LINK). People with some knowledge of the matter say that regulators will probably announce the fine in the next few months. Authorities are also considering softening the wording of the charges and will cite financial risks rather than the "disorderly expansion of capital" according to Reuters.
$Baidu(BIDU)$ : Baidu Apollo releases major product updates to help manufacturers build smarter cars for tomorrow (LINK). Baidu foresees that the market penetration of smart car models equipped with L2+ advanced intelligent driving solutions will exceed 15%, according to PRNewswire. Baidu's Apollo Highway Driving Pro will be deployed on Black Sesame Semiconductor's Huashan II A1000 chip computing platform and will officially release in Q3 this year.
$Coinbase Global, Inc.(COIN)$ Coinbase receives regulatory license to operate from the Bermuda Monetary Authority (LINK). Coinbase Bermuda has obtained a class F license under the Digital Asset Business Act from the BMA. COIN commented on the regulator environment stating that this is a part of a focus on international markets with many locations moving forward as international hubs, according to the company's blog post.
$Li Auto(LI)$ : Li Auto provides update on autonomous driving and BEV roadmap (LINK). Li Auto hosted a press briefing to unveil its autonomous driving and BEV roadmap. The company expects to release its city NOA for beta testing and targets a roll out to 100 cities by the end of 2023. In addition, the company introduced its 800-volt fast charging solution, allowing its BEVs to achieve a driving range of 400 kilometers after a 10-minute charge.
$XPeng Inc.(XPEV)$ : XPeng presents next-gen technology architecture (LINK). Business Wire reported that XPeng unveiled its next-generation end-to-end integrated technology called Sepa2.0, which sets the foundation for future production models. SEPA2.0 will shorten future R&D cycles by 20% with 80% of components compatible with new models. XPeng debuts G6 ultra smart coupe SUV at Auto Shanghai 2023 (LINK). The SUV is based on SEPA2.0, XPeng's next-gen technology architecture, according to Business Wire. The SUV is equipped with 3C battery cell technology to deliver 755km max range and 300km within a 10-minute charge.
Macro
China's NPPA grants 86 online game licenses in April batch. Games developed by Shenzhen ZQgame, 37 Interactive Entertainment Network Technology Group and Baidu are on the list.
Yellen calls for healthy US-China relationship amid rising economic and military tension. US-China relations are in the spotlight after Treasury Secretary Yellen called for a constructive and healthy relationship with China while rejecting the idea of decoupling, the NY Times reported. Her remarks contrasted with what has been an increasingly hostile geopolitical environment.
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