Ant Group's record $34.5 billion IPO in Shanghai and Hong Kong is suspended
Ant Group's listing which was scheduled for Thursday has been suspended, the Shanghai Stock Exchange said, citing that the fintech giant may not meet the STAR Market's listing requirements. Ant Group has been notified by regulators on the Chinese mainland that it may not meet listing qualifications or disclosure requirements due to material matters relating to the regulatory interview of its controller Jack Ma and two senior executives, SSE said in a statement late Tuesday.
Recent changes in the fintech regulatory environment may also disqualify its listing requirements, it added. The announcement came after top financial regulators summoned a rare joint regulatory talk with Ma, Ant’s co-founder, Chairman Eric Jing, and Chief Executive Simon Hu on Monday. Ant Group said in a separate filing to the Hong Kong Stock Exchange that its concurrent proposed H Share listing will also be suspended.
The record-setting IPO was expected to raise 115 billion yuan (US$16.9 billion) without an overallotment option after setting its offer price at 68.8 yuan. Ant Group, which changed its name from Ant Financial earlier this year to stress its technology focus, still faces uncertainty amid tighter rules over online micro lending. 蚂蚁集团暂缓上市！ 即将上市前夜，蚂蚁集团在沪市科创板IPO计划突然暂缓。 11月3日晚间，上交所公告称，暂缓蚂蚁科技集团股份有限公司科创板上市。随后，蚂蚁集团在港交所发布公告，同时进行的H股于香港联合交易所有限公司主版上市亦将暂缓。 11月3日，蚂蚁集团在港交所公告，公司今天接获中国内地相关监管机构的通知，由于公司实际控制人及执行董事长、总经理被监管约谈以及金融科技监管环境发生变化等重大事项，可能会使得公司不符合相关发行上市条件，或者信息披露要求，因此决定暂缓公司的A股于科创版上市。 因此，同时进行的H股于香港联合交易所有限公司主版上市亦将暂缓。公司将尽快公布有关蚂蚁集团暂缓H股上市及退回申请股款的进一步详情。
Tianjin: 1 new asymptomatic infection case
There was 1 new asymptomatic infection case reported as of 3 of November. The 83th asymptomatic infection case is a 37-year-old Chinese man who lived in Guinea. The patient took a flight from Guinea via Paris, France, transfer to flight AF202, and arrive at Tianjin Binhai International Airport on October 30th. So far, of all the 136 imported cases, 121 patients have been discharged upon recovery. 15 patients still hospitalized. -No imported suspected cases are undergoing test.-No new locally transmitted cases or suspected cases were reported.-10 asymptomatic infection cases are undergoing medical observation right now 天津新增1例境外输入无症状 11月2日18时至3日18时，我市无新增境外输入新冠肺炎确诊病例，累计报告境外输入确诊病例136例（中国籍115例、美国籍3例、菲律宾籍8例、法国籍2例、乌兹别克斯坦籍1例、俄罗斯籍1例、乌克兰籍3例、哈萨克斯坦籍1例、委内瑞拉籍2例），治愈出院121例，在院15例（其中轻型4例，普通型11例）。 第83例无症状感染者，男，37岁，中国籍，近期居住地为几内亚科纳克。该患者8月26日在当地确诊新冠肺炎，治疗后复查三次新冠病毒核酸阴性。自几内亚乘坐航班经法国巴黎转乘航班AF202，于10月30日抵达天津滨海国际机场，入境体温36.3℃，申报无症状。经海关检疫排查采样后，当日新冠病毒抗体呈阳性，即由120救护车转送至空港医院发热门诊。11月2日新冠病毒核酸检测结果阳性，即由120救护车转送至海河医院。经市专家组确诊为我市无症状感染者。继续在海河医院隔离观察。全程实施闭环管理。
Fitch Affirms Tianjin Free Trade Zone Investment at 'BBB'
Fitch Ratings has affirmed China-based Tianjin Free Trade Zone Investment Holding Group Co., Ltd.'s Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB'. The Outlook is Negative, which mirrors Fitch's assessment of the creditworthiness of Tianjin municipality. Fitch has also affirmed the 'BBB' rating on Tianjin FTZIH's USD230 million 6.25% senior unsecured notes due December 2021. The notes are issued by Hongkong Baorong Development Limited and are unconditionally and irrevocably guaranteed by Tianjin FTZIH. Tianjin FTZIH is part of the Tianjin municipality's flagship economic development zone - Tianjin Port Free Trade Zone - and plays an important role in implementing the blueprint of the municipality and the Tianjin Port Free Trade Zone Management Committee for the free trade zone.
Volvo opens electric motor lab in Shanghai
Swedish automaker Volvo Cars opened a new electric motor lab in Shanghai on Tuesday, the latest move as the company continues to move toward becoming a fully electric carmaker.
Volvo's new lab will mainly focus on electric motor development for use in fully electric and hybrid cars based on Volvo Cars’ forthcoming modular vehicle architecture. The investments in e-motor design and development represent another step toward Volvo Cars’ electrification strategy. Volvo aims for 50 percent of its sales to be fully electric vehicles by 2025, with the rest hybrids.
In 2020, multinational automobile companies are speeding up their efforts in the country's future new-energy vehicle market and seeking longer-term development. The lab is part of its global network of facilities for the development and testing of electric car components. Volvo Cars said the company is making significant investments that allow for the in-house design and development of electric motors for the next generation of Volvo models. Bringing the development of electric motors in-house will allow Volvo engineers to further optimize electric motors and the entire electric driveline in new Volvos. This approach will allow engineers to make further gains in terms of energy efficiency and overall performance. In the first 10 months of this year, Volvo Cars sold nearly 130,000 vehicles in the Chinese market, a year-on-year increase of 5.3 percent.