China Fund News Taylor
brothers and sisters, just read some news tonight.
Intel’s stock price crashed
The U.S. stock market also exploded. The stock price of giant Intel Corporation crashed, plunging more than 10%.
On the news, Intel’s fourth-quarter revenue was US$15.41 billion, a year-on-year increase of 10%, higher than analysts’ expectations of US$15.17 billion, breaking seven consecutive quarters of revenue decline; adjusted earnings per share were US$54. cents, higher than analysts’ expectations of 45 cents; gross profit margin was 40%, down 2.6 percentage points year-on-year.
However, Intel expects revenue in the first fiscal quarter of 2024 to be between US$12.2 billion and US$13.2 billion, which is far lower than analysts’ expectations of US$14.25 billion; adjusted earnings per share are 13 cents, lower than analysts’ expectations. 34 cents.
WuXi AppTec issued a clarification announcement in the evening
html On the evening of January 26, WuXi AppTec issued an announcement stating that the company noticed that in a draft version of the "Biosafety Act" submitted to the U.S. House of Representatives on January 25, 2024 (hereinafter referred to as " Biosafety Bill) was mentioned, and a similar draft bill was recently proposed in the U.S. Senate. The draft biosafety law has not yet been enacted, and subsequent legislative procedures require the U.S. House of Representatives and the U.S. Senate to vote on their respective versions of the bill to form the final version after review by relevant committees. Therefore, the content of the draft Biosafety Law (including the part mentioning WuXi AppTec) remains subject to further review and may be changed.
Wuxi AppTec said that the company is closely monitoring the progress of this draft legislative process together with consultants. The Company has noticed that the draft Biosafety Law contains content related to WuXi AppTec, which the Company believes is neither appropriate nor accurate. The company firmly believes that WuXi AppTec's business development will not pose a risk to the security of any country.
WuXi AppTec emphasized that the company always abides by the laws and regulations of the countries where it operates, including China and the United States. WuXi AppTec continues to provide drug development and manufacturing services to thousands of U.S. and global customers, and the company will continue to serve customers and help patients around the world.
*st Oceanwide: Received the decision to terminate the listing of the stock
html On January 26, *st Oceanwide announced in the evening that the company received the Shenzhen Stock Exchange's "Decision on the Termination of the Listing of the Stock of Oceanwide Holdings Co., Ltd." and the Shenzhen Stock Exchange decided to terminate the company's stock Listed. If the company's stock is subject to a decision to terminate listing due to compulsory delisting for trading, the company's stock will not enter the delisting consolidation period, and the company's stock will be delisted within fifteen trading days after the decision to terminate listing is made.
Public information shows that Oceanwide Holdings Co., Ltd. was established in 1989 and listed on the Shenzhen Stock Exchange in 1994. It was one of the earliest listed companies in China’s real estate industry. The actual controller is Lu Zhiqiang. Before 2014, Oceanwide Holdings' business was mainly real estate development. Since then, the company has begun to transform into the financial field, integrating financial assets such as trusts, insurance, securities, futures, pawns, and asset management through acquisitions.
In 2016, Oceanwide Holdings ushered in a bright moment, achieving revenue of 24.67 billion yuan, a year-on-year increase of 79.4%, setting a historical record.
Lu Zhiqiang’s personal wealth has also increased accordingly. He has been in the top ten of the Hurun Rich List in 2015 and 2016, surpassing Xu Jiayin in net worth. In 2015, Lu Zhiqiang became the richest man in Shandong with a fortune of 83 billion yuan. As of 2020, Lu Zhiqiang’s net worth is still as high as 62 billion yuan, ranking 66th. His name can no longer be found in the 2023 Hurun Rich List.
