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On May 12th, Hong Kong stocks closed at midday with the Hang Seng Index up 0.3% and the Hang Seng Tech Index down 0.39%. Total turnover for the Hang Seng Index reached HK$140.427 billion. On the sector front, oil stocks, short video concept stocks, wind power stocks, and gold stocks led the gains, while film and television stocks, rare earth concept stocks, and pork concept stocks led the declines. PetroChina (00857.HK) rose over 4%, Kuaishou (01024.HK) and Lingbao Gold (03330.HK) rose over 3%, while Chipwise Holdings (02166.HK) fell nearly 6%, and Hua Hong Semiconductor (01347.HK), Pop Mart (09992.HK), and Jinli Permanent Magnet (06680.HK) fell over 3%.On May 12th, Kuaishou (01024.HK) issued an announcement stating that it has noted media reports on May 11th, 2026, regarding the companys intention to obtain external financing for the relevant assets and businesses of its subsidiary, Keling AI, and its proposed independent listing. The company hereby provides an update to shareholders and investors that, in order to further utilize external financial resources, the companys board of directors is evaluating a proposed restructuring plan for the relevant assets and businesses of Keling AI, which may involve the introduction of external financing. As of the date of this announcement, the aforementioned proposed plan is still in its preliminary stage, and the company has not yet signed any final agreement. There is no guarantee that such proposed plan will proceed.Futures News, May 12th: Yesterday, after Iran rejected the peace agreement offered by the United States, market concerns resurfaced, causing oil prices to open higher. Prices then fluctuated throughout the day, showing significant volatility but generally trending upwards. Zhuochuang Information predicts that President Trumps statement that a peace agreement had not yet been reached and his subsequent threats against Iran, declaring the ceasefire agreement fragile, exacerbated market anxieties. In the short term, oil prices are expected to continue their wide-ranging, upward-trending pattern.Abu Dhabi National Oil Company (ADNOC): The ongoing disruption to passage through the Strait of Hormuz is affecting the extraction of natural gas products.Abu Dhabi National Oil Company (ADNOC): We are in case-by-case discussions with our clients and partners regarding specific transactions.

This year, Rolls-Royce will begin testing the UltraFan prototype

Aria Thomas

Jul 18, 2022 10:48

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This year, Rolls-Royce (OTC:RYCEY) will begin testing a prototype of its UltraFan engine, the largest turbofan in the world, which is up to 25 percent more efficient than its first-generation Trent engines.


UltraFan chief engineer Andrew Geer told reporters at Rolls' headquarters in Derby, central England, before the beginning of the Farnborough International Airshow on Monday that the demonstrator's fan had a diameter of 370 cm, the maximum size achievable for widebody aircraft.


He remarked that the technology may be scaled down for other applications, such as the return of the British aerospace industry to the market for narrowbody aircraft.


UltraFan will be "frozen" until testing is complete, with no more investment until Boeing (NYSE:BA) or Airbus launch a new aircraft program, UltraFan CEO Warren East told the Financial Times last year.


Geer noted that UltraFan was not a single engine, but rather a platform for several technologies, and that many of its innovations could be implemented into Rolls' existing programs.


It contains carbon titanium fan blades instead of the hollow titanium blades of prior Trents and a 64 megawatt power gearbox, which is a record.


He claimed that the first test flight will also use 100 percent sustainable aviation fuel from Air BP (NYSE:BP), which is derived from vegetable oils rather than fossil fuels.


Chris Cholerton, president of civil aerospace, remarked, "The suite of technologies we are testing aboard the demonstrator will introduce new capabilities for future propulsion systems and provide opportunities to enhance our current fleet."


In addition to improving the performance of gas turbines, Rolls is also exploring hydrogen and hybrid electric technologies to power commuter and regional aircraft.


Beginning in the middle of the 2030s, the company intends to perform rig and engine tests to demonstrate that hydrogen can safely and effectively power small to medium-sized aircraft.


Liquid hydrogen will be utilized to power an AE2100 engine for the first time this year, according to the business, and a test of a Pearl 15 engine will follow at an unspecified date.

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