Booming BYD’s billions
Business briefs from the Chinese media — Tuesday October 18
Booming BYD’s billions: Yesterday, electric vehicle and battery manufacturer BYD 比亚迪 announced a profit forecast for the third quarter of up to 5.90 billion yuan ($820.31 million), an increase of 365% year-on-year. For the first three quarters of 2022, BYD expects a net profit of up to 9.50 billion yuan ($1.31 billion). Yesterday, BYD displayed its three models launched on the European market at the Paris Motor Show.
Metaverse hype in Hong Kong: Flowing Cloud Technology 飞天云动科技, a producer of AR/VR content for the metaverse whose prospectus mentions the word “metaverse” 318 times, listed on the Hong Stock Exchange, raising about $76 million. At the close the stock stood at HK$2.12 ($0.27) per share, a first day drop of 4.07%.
Huawei registers hand gesture driving patent: According to the Tianyancha 天眼查 company database, Huawei 华为 yesterday registered a patent for a “device” that allows a driver to use hand gestures to control a vehicle.
