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On July 3rd, UBS released a research report stating that it recently invited Innovent Biologics (01801.HK) to participate in its virtual healthcare roadshow. Following strong product sales in the first quarter, management stated that sales momentum remained solid in the second quarter, viewing it as the new normal rather than a new shock, primarily supported by high unmet demand in its innovative product portfolio. Regarding GLP-1 drugs, management did not feel pressured by tightening online channels, noting that the recent 618 e-commerce event showed healthy demand across the category. UBS has included Pfizers licensing revenue and abexilic acid sales in its forecasts. However, considering the R&D commitments of the collaborative assets, it increased its R&D expense forecasts for 2026-2028, resulting in a downward revision of its 2026-2028 EPS forecasts from RMB 1.13, RMB 2.91, and RMB 4.41 to RMB 1.12, RMB 2.41, and RMB 3.42, respectively. UBS slightly raised its target price for Innovent Biologics from HKD 124 to HKD 124.1, reiterating its buy rating.July 3 - According to the Japan Meteorological Agency, a 6.4-magnitude earthquake struck off the northwest coast of Miyako Island, Japan, at approximately 1:05 p.m. local time. The earthquake was felt at a seismic intensity of 3 and had a very shallow depth.GFZ (German Center for Geosciences): A 6.02-magnitude earthquake struck southwestern Ryukyu Islands, Japan.July 3 - According to the latest statistics from the European Automobile Manufacturers Association (EAMA), Chinese passenger car manufacturers surpassed Japanese manufacturers in market share in Europe for the first time in May. Data shows that in May, five Chinese automakers sold 138,400 vehicles in 31 European countries, a year-on-year increase of 65%; while six Japanese automakers sold 130,400 vehicles in the same 31 countries, a year-on-year decrease of 3%.On July 3, Faraday Future (FFIE.O) announced that it plans to hold an online extraordinary general meeting of shareholders at 0:00 Beijing time on August 13 to seek approval of proposals aimed at supporting the global deployment and long-term growth of the companys EAI robots. Among the proposals, the Board of Directors is calling on all shareholders to approve the amendment to the companys Third Amendment and Restation of Incorporation Certificate, changing the company name from Faraday Future Intelligent Electric Inc. to Faraday Future Physical AI Ecosystem Inc.

BHP Thinks U.S. and Europe's EV Metals Search Will Benefit Australia

Charlie Brooks

Nov 03, 2022 14:56

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According to BHP Group's nickel operations chief, eco-friendly mining and minerals for decarbonisation will benefit Australia (NYSE:BHP).


According to Jessica Farrell, Asset President for BHP Nickel West, the August passage of the U.S. Inflation Reduction Act, which allows substantial tax credits for battery cell processing, and the European Commission's Battery Recycling initiative show governments' increased focus on electric vehicle (EV) minerals like lithium, nickel, and copper.


"Given our efforts to solve these ethical and environmental challenges," Farrell remarked at an international mining conference in Sydney on Thursday.


The US Inflation Reduction Act links EV tax credits to domestic or 20 allied minerals, including Australia.


Since the Act passed, American mining and automotive firms have sought partnerships with Australian nickel and lithium producers.


BHP's Nickel West business has the second-largest nickel sulphide resource base and plans to increase nickel exploration over the next two years.


Nickel West supplies Tesla, Toyota, and Ford.


Farrell said BHP expects 60% of car sales to be electric by 2030 and 90% by 2040.


Nickel demand is expected to rise 200–300% over the next 30 years, according to BHP.


Farrell said BHP wants Australia to mandate all new vehicles be electric by 2035 and provide infrastructure.


"Canberra was the first Australian city to mandate electric cars by 2035 with generous incentives. We hope other governments would follow suit and invest the essential infrastructure for its success "said.

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