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On October 19th, Youxun Technology announced that Ke Binglin, one of the companys actual controllers and chairman, proposed on October 19th, 2026, that the company repurchase shares using its own funds or self-raised funds. The total repurchase amount will be no less than RMB 100 million (inclusive) and no more than RMB 200 million (inclusive), with the price ceiling not exceeding 150% of the average trading price of the companys shares in the 30 trading days prior to the boards approval of the repurchase plan. The repurchased shares are intended for employee stock ownership plans or equity incentives; the company will study and formulate a repurchase plan, which is still subject to approval procedures.The Czech Association of the Automotive Industry reported that passenger car production in the Czech Republic increased by 0.6% year-on-year to 1,095,937 units from January to September this year.On October 19th, according to Tianyancha, Xiaomi Automotive Technology Co., Ltd.s utility model patent for "range extender, powertrain, and vehicle" was granted on October 16th and is currently valid. The application date is October 27th, 2025. The patent abstract states that the range extender arranges the engine and motor assembly side-by-side, while the generator and motor controller are arranged parallel to the engine axis. This layout can at least avoid increasing the size of the range extender along the engine axis: when the engine is longitudinally mounted, it reduces the longitudinal space occupied by the range extender; when it is transversely mounted, it reduces the lateral space occupied. The motor controller and generator share the space along the engine axis to improve space utilization.On October 19th, Hansoh Pharmaceutical (03692.HK) announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary and Hansoh Bio, LLC have entered into a strategic collaboration and licensing agreement with F. Hoffmann-La Roche Ltd. This strategic collaboration covers a portfolio of antibody-drug conjugate (ADC) projects, including two preclinical ADC projects from Hansoh and several ADC projects developed using Roche-proposed targets and leveraging Hansohs proprietary ADC technology platform. Hansoh will receive an upfront payment of US$400 million and annual payments of US$110 million, and will be eligible to receive potential milestone payments exceeding US$15 billion based on the development, registration, and commercialization progress of these projects, as well as tiered royalties based on potential future product sales.Citigroup lowered its price target for Bank of New York Mellon from $160 to $157.

Oil Prices Increase In Anticipation of A China Demand Recovery

Haiden Holmes

May 18, 2022 10:18

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In early Asian trading on Wednesday, oil prices increased by more than $1 per barrel on optimism of a demand revival in China as the country gradually eases some of its harsh COVID-19 containment restrictions.


Brent crude futures rose $1.15, or 1%, to $113.08 a barrel at 00:42 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose $1.62, or 1.4%, to $114.02 a barrel, erasing some of the previous session's losses after oil prices plummeted by almost 2%.


On Tuesday, Shanghai reached the long-awaited benchmark of three consecutive days with no new COVID-19 cases outside of quarantine zones. On Monday, the city announced its plans to break a lockdown that has lasted for more than six weeks.


Stephen Innes, managing director of SPI Asset Management, stated in a client note: "Beyond the immediate term, less terrible news on China gives a nip in the tail in the shape of considerably greater oil demand and prices, which is positive for producers but negative for consumer sentiment."


U.S. crude and gasoline inventories decreased last week, market sources reported on Tuesday, citing American Petroleum Institute data. Wednesday is the anticipated release date for data from the U.S. government.


Russia's production decreased by about 9 percent in April, and the country, which is a member of the OPEC+ group of oil-producing nations, produced oil significantly below the levels required by an agreement to alleviate historic output restrictions established during the coronavirus pandemic's deadliest phase in 2020.


ANZ Research analysts said in a client note on Wednesday that there is ongoing pressure on prices following news that the United States is permitting Chevron Corp (NYSE:CVX) to negotiate oil licenses with Venezuela's national producer, temporarily eliminating a U.S. ban on such negotiations.


The planned adjustments may eventually result in more crude oil entering the market.


Monday's failure by the European Union to convince Hungary to rescind its veto of a proposed Russian oil embargo weighed on the market. However, some diplomats now point to a conference on May 30-31 as the time for an agreement on a phased prohibition.


Jerome Powell, chairman of the Federal Reserve in the United States, said on Tuesday that the central bank will raise interest rates as high as necessary to combat a surge in inflation, which he warned threatened the foundation of the economy.

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