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On May 11, CGN Power (01816.HK) announced on the Hong Kong Stock Exchange that its subsidiary, CGN Huizhou No. 2 Nuclear Power Co., Ltd., conducted the first concrete pouring (FCD) of the main reactor building for Unit 4 on May 10, 2026. This signifies that Unit 4 has commenced full-scale construction and entered the civil engineering phase. The installed capacity of Unit 4 is 1209MW.On May 11th, the Guangzhou Municipal Market Supervision Bureau launched a comprehensive campaign to regulate the online ride-hailing and online freight platforms and the transportation sector, leveraging its market supervision functions. The campaign aims to further standardize the operations of these platforms, effectively protect the legitimate rights and interests of operators and consumers within these platforms, and maintain a fair and competitive market order. The targets of the campaign are online ride-hailing platforms, online freight platforms, and other e-commerce platform operators as defined in Article 9 of the "E-commerce Law of the Peoples Republic of China." The campaign will strengthen the supervision of platform transaction behavior through methods such as random inspections, investigation of complaints and reports, and big data monitoring. The focus will be on investigating and punishing illegal activities such as platforms using service agreements, transaction rules, and technical means to impose unreasonable transaction restrictions and charge unreasonable fees. The campaign will also promote the dissemination of laws, regulations, and compliance guidelines on internet platform pricing behavior and online transaction supervision to comprehensively improve operators compliance awareness and operational capabilities. The campaign will focus on key areas such as road transport, taxi services, motor vehicle repair, and driver training, and will severely crack down on unlicensed operations, unfair competition, price violations, false advertising, and other behaviors that infringe upon consumers legitimate rights and interests.Market news: A U.S. trade delegation will soon arrive in India for trade negotiations.Shares of U.S.-listed gold mining companies fell in pre-market trading, with Newmont down 1.9%, Sibani Gold down 1.8%, and Harmony Gold down 2.4%.On May 11th, the Shanghai Futures Exchange (SHFE) reported the following warehouse receipts and changes: 1. Stainless steel futures warehouse receipts: 64,098 tons, an increase of 5,516 tons compared to the previous trading day; 2. Aluminum futures warehouse receipts: 461,525 tons, an increase of 549 tons compared to the previous trading day; 3. Low-sulfur fuel oil futures warehouse receipts: 19,050 tons, a decrease of 8,520 tons compared to the previous trading day; 4. International copper futures warehouse receipts: 12,338 tons, an increase of 523 tons compared to the previous trading day; 5. Nickel futures warehouse receipts: 70,381 tons, a decrease of 7 tons compared to the previous trading day; 6. Rebar futures warehouse receipts: 94,161 tons, an increase of 2,135 tons compared to the previous trading day; 7. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged compared to the previous trading day; 8. Copper futures warehouse receipts: 88,077 tons, a decrease of 1,851 tons compared to the previous trading day; 9. Butadiene rubber futures warehouse receipts: 31,480 tons, an increase of 31,480 tons from the previous trading day; 10. Fuel oil futures warehouse receipts: 58,530 tons, a decrease of 5,500 tons from the previous trading day; 11. TSR20 rubber futures warehouse receipts: 36,187 tons, a decrease of 202 tons from the previous trading day; 12. Silver futures warehouse receipts: 845,431 kg, an increase of 33,018 kg from the previous trading day; 13. Alumina futures warehouse receipts: 505,850 tons, an increase of 505,850 tons from the previous trading day; 14. Hot-rolled coil futures warehouse receipts: 623,108 tons, a decrease of 2,652 tons from the previous trading day; 15. Pulp warehouse futures warehouse receipts: 199,456 tons, an increase of 478 tons from the previous trading day; 16. Pulp mill warehouse futures warehouse receipts: 15,000 tons, unchanged from the previous trading day; 17. Natural rubber futures warehouse receipts totaled 137,030 tons, an increase of 3,000 tons from the previous trading day; zinc futures warehouse receipts totaled 101,437 tons, an increase of 557 tons from the previous trading day; petroleum asphalt plant warehouse futures warehouse receipts totaled 21,790 tons, unchanged from the previous trading day; petroleum asphalt warehouse futures warehouse receipts totaled 24,200 tons, a decrease of 1,800 tons from the previous trading day; tin futures warehouse receipts totaled 8,975 tons, a decrease of 137 tons from the previous trading day; lead futures warehouse receipts totaled 57,524 tons, an increase of 1,995 tons from the previous trading day; and gold futures warehouse receipts totaled 109,653 kilograms, unchanged from the previous trading day.

Panasonic Anticipates A Rise in Global Automobile Production This Fiscal Year

Aria Thomas

Jun 01, 2022 14:49

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Panasonic (OTC:PCRFY) Holdings Corp, which manufactures batteries for Tesla (NASDAQ:TSLA) and other automakers, stated on Wednesday that it anticipates a recovery in global vehicle production this fiscal year, but that the two-year semiconductor shortage will persist.


Masashi Nagayasu, CEO of the Japanese conglomerate's automotive business, which manufactures in-car infotainment systems and other auto components, stated, "We will operate our business in consideration of the risks of fluctuations in vehicle manufacturing."


Nagayasu stated on the first day of Panasonic's annual investor event that the company has no plans to produce automobiles.


Panasonic, whose automotive division accounts for approximately 14 percent of its entire revenue, anticipates a 19 percent increase in sales for the fiscal year ending in March 2023. It anticipates an operational profit increase of roughly 17 percent.


Due to component shortages caused by COVID-19 lockdowns in China and higher commodity prices as a result of Russia's invasion of Ukraine, the company stated last month that it did not anticipate a profit increase for this fiscal year.


(This item corrects the firm name in paragraph 1 to Panasonic Holdings Corp from Panasonic Corp, and the sales growth forecast in paragraph 4 to 19 percent from 10 percent, and the operating profit forecast to nearly 17 percent from 15 percent decline.)