Billions in solar, sportswear, and booze

Solar energy billions: This week, companies in the photovoltaic industry announced a series of massive orders: Shangji Automation 上机数控 will supply silicon wafers and products worth nearly 10 billion yuan ($1.38 billion); Daqo New Energy 大全能源 will sell polysilicon worth more than 60 billion yuan ($8.33 billion), and Tongwei Group 通威集团 has signed contracts for monocrystalline materials for more than 100 billion yuan ($13.89 billion).   

Chinese sportswear brands are just doing it: Yesterday, Xtep 特步 announced that sales in mainland China in the third quarter of the company’s main brand increased by 20-25%, mostly focused on running shoes. Xtep has opened 41 running clubs in mainland China with a collective 1.5 million members. In the first half of the year, Xtep reported revenue of 5.68 billion yuan ($789.61 million), a year-on-year increase of 37.5%, and operating profit of 922 million yuan ($128.08 million), an increase of 34.8%.  

In Xi’s China, booze is more valuable than tech? According to a report by financial website Eastmoney.com, Kweichow Moutai 贵州茅台 has in the third quarter surpassed Tencent 腾讯 as China’s largest company, with a market capitalization of 2.35 trillion yuan ($326.45 billion). Since the beginning of 2022, Moutai has reported profits of about 44.40 billion yuan ($6.16 billion), amounting to an average of about 162 million yuan ($22.50 million) per day.