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On October 16, Xpeng Motors reported that in September 2025, Xpeng Motors exports exceeded 5,000 units, a month-on-month increase of 65.8% and a year-on-year increase of 79.4%. From January to September 2025, Xpeng Motors exported more than 29,723 vehicles, a year-on-year increase of 125.2%.Barclays: Raised its target price for Morgan Stanley (MS.N) to $183 from $156 previously.Piper Jaffray: Raised its price target on Bank of America Corp (BAC.N) to $55 from $50.JPMorgan Chase & Co. lowered its target price for Deutsche Bank (DB.N) to 244 euros from 246 euros.On October 16th, JPMorgan Chase published a report upgrading Pop Marts (09992.HK) investment rating from "Neutral" to "Overweight," with a target price increase from HK$300 to HK$320. JPMorgan noted that the company has fallen approximately 24% since its recent high on August 26th, compared to a roughly 7% increase in the Hang Seng Index over the same period. The bank believes this suggests investors are lowering their forecasts for the company and adopting a more conservative stance. After raising its 2025-27 earnings forecast by 5% to 7%, JPMorgan now expects Pop Marts sales and adjusted earnings to increase by 165% and 276% year-on-year this year, respectively, and by 28% and 29% year-on-year next year. According to the banks forecast, Pop Mart is currently trading at 20 times the projected price-to-earnings ratio for next year. JPMorgan Chase believes that the valuation is attractive. Future catalysts include the third-quarter operating data to be released at the end of October; strong sales at Halloween and Christmas; the "Labubu & Friends" animation is expected to be released in December; and Labubu 4.0 is expected to be released in March or April next year.

Crown Resorts in Australia Will Face Disciplinary Action

Charlie Brooks

Apr 06, 2022 09:50

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Crown stated in a statement on Wednesday that it would cooperate completely with the VGCCC on the findings of the royal commission report.


Crown's shares fell 0.5 percent in early trade.


According to the Royal Commission into Casino Operators and Licensing (RCCOL), the China Union Pay process involved the use of the China Union Pay bank card from 2012 to 2016 to "allow international patrons to access funds in order to gamble at Crown Melbourne," circumventing Chinese currency restrictions.


The RCCOL discovered that "Chinese clients were aided in moving up to A$160 million in money unlawfully."


"As a starting step, we are acting on the Royal Commission's conclusions that Crown's China Union Pay scheme violated critical Victorian regulatory requirements, was unlawful, and represented significant misconduct," VGCCC Chair Fran Thorn stated, indicating that more action would follow.


Crown was found ineligible to maintain a gaming license in Melbourne in October, but was permitted to operate its highest-earning casino under monitoring.