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February 10th – The 2026 Taiwan Affairs Work Conference was held in Beijing from February 9th to 10th. Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the National Committee of the Chinese Peoples Political Consultative Conference, attended and delivered a speech. Wang Huning stated that it is essential to adhere to the one-China principle and the 1992 Consensus, unite with the vast majority of Taiwan compatriots, firmly support patriotic forces for reunification on the island, resolutely combat "Taiwan independence" separatist forces, oppose external interference, and safeguard peace and stability across the Taiwan Strait. He emphasized the need to uphold the concept of "both sides of the Taiwan Strait are one family," facilitate smooth and convenient exchanges between people across the Strait, expand grassroots and non-governmental exchanges, support Taiwan people, especially young people, to study, work, and live on the mainland, promote the joint development of Chinese culture, and foster spiritual harmony among compatriots on both sides. He also stressed the importance of supporting the development of Taiwan businesses on the mainland, improving policies and measures that benefit Taiwan compatriots and enterprises, deepening cross-strait integrated development, and enabling compatriots on both sides to share the opportunities and achievements of Chinas modernization.Japan Oil, Gas and Metals Corporation: The spot price for liquefied natural gas (LNG) in Japan in January is US$11.30 per million British thermal units (MMBtu); the spot CIF price for LNG in Japan in January is US$11.20 per MMBtu.February 10th - Overnight, US stocks rose slightly, while Hong Kong stocks continued their strong performance from yesterday, breaking through the 10-day moving average at the open. The Hang Seng Index opened 175 points higher at 27202, before slightly retreating to 109 points. Subsequently, driven by capital inflows, it surged as much as 370 points to a high of 27397. At the close, the Hang Seng Index rose 0.54% in the morning session, while the Hang Seng Tech Index rose 0.84%. The total turnover of the Hang Seng Index market was HK$133.82 billion. On the sector front, artificial intelligence continued its strong upward momentum, with film, pharmaceutical outsourcing, and biopharmaceutical stocks leading the gains. Semiconductor stocks rose for the second consecutive day. Education, aviation, tourism, and dairy stocks were weak, while mainland property stocks retreated. In terms of individual stocks, Lexin Outdoor (02720.HK) surged over 121.8% on its first day of trading, Zhipu (02513.HK) rose over 21%, and CSPC Pharmaceutical Group (01093.HK) gained over 6%; New Oriental (09901.HK) fell 4.7%, and Meituan (03690.HK) and Haidilao (06862.HK) both dropped 3%.The yield on 40-year Japanese government bonds fell 4.0 basis points to 3.775%.On February 10th, according to Qichacha APP, Guangzhou Xiaopeng Motors Technology Co., Ltd. recently applied for and published a patent for "Humanoid Robot Control Method, Device, and Humanoid Robot". The patent abstract shows that this invention relates to the field of robot control technology, specifically to a humanoid robot control method, device, and humanoid robot. The method involves acquiring upper body posture data corresponding to the operator; this upper body posture data includes pitch, tilt, and yaw data; performing component processing on the upper body posture data to generate target upper body posture data corresponding to the humanoid robot; acquiring the current upper body posture data corresponding to the humanoid robot; and controlling the humanoid robot based on the target upper body posture data and the current upper body posture data. This forms a closed loop of "acquisition-processing-feedback-control", dynamically correcting posture deviations to ensure the robot accurately replicates the operators intentions while also considering motion smoothness and operational stability.

Tesla's results exceed expectations; Elon Musk does not see any demand difficulties

Charlie Brooks

Jul 21, 2022 10:59

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Tesla (NASDAQ:TSLA) Inc reported a quarterly profit above analyst forecasts on Wednesday, as a series of price increases on its best-selling electric vehicles helped to overcome production challenges caused by COVID-19 lockdowns in China.


Elon Musk, the CEO of Tesla, claimed on a conference call that he expects inflation to begin declining by the end of the year and that Tesla has no demand issues.


Despite what he dubbed "embarrassingly expensive" vehicle prices, he rejected the claim that Tesla's popularity was affected by the global economic crisis. The price of the long-range form of Tesla's Model Y in the United States has grown by more than 30 percent since the beginning of 2021, to its current price of $65,990.


The company forecasted a "record-breaking second half" of the year and maintained its goal of a 50 percent average annual increase in vehicle deliveries over a multi-year period, but did not disclose specific delivery targets for 2022.


During after-hours trading, Tesla's shares increased by almost 1 percent. Since hitting a high point in November, the stock price has decreased by about 40 percent.


Tesla's China facility concluded the second quarter with a monthly production record. Musk added that new factories in Texas and Berlin were projected to produce 5,000 vehicles per week by the end of the year, with Berlin producing 1,000 vehicles per week in June.


Musk has previously referred to the proposed facilities as "gigantic money furnaces" and stated that he had a "bad feeling about the economy."


Following Tesla's earnings release, Morgan Stanley (NYSE:MS) wrote in a research, "We are prepared for near-term margin challenges due to (new) problems with scaling up additional production, particularly in Berlin."


Executives acknowledged a persistent lack of older-generation microchips, but maintained that there were no significant concerns with the supply of chips and batteries, barring unplanned COVID-related shutdowns.


The EV maker posted a quarterly adjusted profit of $2.27 per share, compared to the average estimate of $1.81 per share among industry experts.


Due to inflationary pressure, the company's automotive gross margin fell to 27.9 percent, down from the same time a year ago and the previous quarter.


Jesse Cohen, senior analyst at Investing.com, commented, "Tesla's outstanding quarter is the latest indicator that the firm has succeeded at handling global supply chain and logistical challenges, weathering the storm better than most conventional automakers."

BITCOIN TO CASH

Tesla reported that it has converted around 75% of its bitcoin acquisitions into fiat currency, increasing its cash position by $936 million. Musk indicated on the conference call that the sale was undertaken to increase cash since Tesla was unsure of how long the COVID-19 lockout in China would endure. Tesla has not sold any of its Dogecoin-related holdings.


"This should not be seen as a decision on bitcoin," he continued, adding that Tesla is open to increasing its cryptocurrency holdings in the future.


Musk claimed in May 2017 that Tesla had no plans to sell its bitcoin holdings.


"The bitcoin losses emphasize an essential part of Tesla's investment case: its eccentric owner. Laura Hoy, an analyst at Hargreaves Lansdown, claims that Musk's attitude is beginning to raise governance problems as a result of his company-benefiting innovation.


In the second quarter, overall sales dipped to $16.93 billion from $18.76 billion in the previous quarter, breaking Tesla's trend of posting record revenue in previous quarters.


Analysts projected a sales of $17.10 billion, according to data from IBES and Refinitiv.

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