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Real-time News
On July 23, the General Office of the Sichuan Provincial Peoples Government recently issued the "Work Plan for Sichuan Province to Vigorously Promote the Large-Scale Development and Application of New Energy Freight Vehicles." The plan proposes to strive for policy support for large-scale equipment replacement. It aims to make good use of large-scale equipment replacement policies, actively seek national ultra-long-term special treasury bond funds, and support the scrapping and replacement of old operating freight vehicles that meet the scope of national large-scale equipment replacement policy support with new energy freight vehicles. It also supports the purchase of new energy urban cold chain delivery freight vehicles, striving to have more than 40,000 new energy freight vehicles by the end of 2027.HSBC Holdings: Lowered its target price for NetEase (NTES.O) from $162 to $150.Russian Foreign Ministry: Russian Foreign Minister Sergey Lavrov confirmed that Russia is ready to resolve the conflict in Ukraine through political and diplomatic means.Russian Foreign Ministry: Russian Foreign Minister Sergey Lavrov and US Secretary of State Marco Rubio discussed the Ukraine issue.On July 23, STMicroelectronics (STM.N) stated in a press release that it expects revenue growth this quarter, driven by demand for AI-powered data centers. The company anticipates third-quarter revenue to reach approximately $3.7 billion in the mid-term guidance period, representing a 6.2% year-over-year increase, compared to the average analyst estimate of $3.79 billion. Gross margin for the quarter is expected to be approximately 37%, compared to analyst expectations of 36.76%. The continued expansion of AI infrastructure is driving demand for various data center chips, from Nvidias (NVDA.O) cutting-edge GPUs to STMicroelectronics semiconductors supporting power management and connectivity. This has significantly boosted the performance of the Franco-ST chipmaker. CEO Jean-Marc Cherry has been committed to expanding the business into high-growth areas beyond consumer electronics and the automotive industry. STMicroelectronics expects AI-powered data center revenue to exceed $1 billion in 2026, up from its previous forecast of approximately $1 billion; and to exceed $2 billion in 2027, also up from its previous forecast of approximately $2 billion.
