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Nio Shares Rise following Reported Plan to Spin off Battery Unit and Q3 Bottom Line BeatThe spinoff plan underlines Nio's working to achieve profitability sooner since it previously planned to develop and produce some batteries on its own and outsource production for the remainder to other suppliers
China Says Concerns over Growth Prospects are Unwarranted after Moody's Cuts Credit OutlookThe Chinese economy will still have huge resilience and potential, and will remain an important engine for stable growth of the world economy as its long-term sound fundamentals remain unchanged, an official from the Ministry of Finance said.
Global Smartphone Shipments Set to Rise 7.3% in Q4, Driven by China Resurgence: IDCDespite the strong rebound in Q4, global shipments in 2023 is expected to fall 3.5% from last year to 1.16 billion units, which is still better than the previous forecast as IDC foretasted a 4.7% drop earlier this year.
Bilibili Shares Plunge over Wider-than-Expected Q3 Loss and Weak Sales GuidanceBilibili expects total net revenues this year to be at the low-end after cutting the revenue guidance by up to RMB3.5 billion three months ago. Both of its Hong Kong-listed and US-listed share plunged more than 10% following financial results.
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