A Shenwan Hongyuan (SHE:000166, HKG:6806) unit completed the issue of 3.2 billion yuan of corporate bonds, according to a Tuesday filing with the Shenzhen bourse.
The offering, which closed May 25, consisted of 1.1 billion yuan with a 387-day term and a 1.49% coupon and 2.1 billion yuan with a three-year term and a 1.67% coupon.
The bonds were listed on the Shenzhen bourse on June 1.
A fire broke out at auto parts maker Hyundai Mobis' (KRX:012330) Chennai plant in southeastern India Sunday afternoon, destroying the firm's automotive electronics components manufacturing facility, Yonhap News reported Monday.No personnel were harmed in the incident.The fire is expected to only lead to some temporary issues in vehicle production, Hyundai Motor's (KRX:005380) Indian subsidiary said. The carmaker is currently evaluating the damage with Hyundai Mobis and looking into other suppliers and alternative measures to ensure a steady supply chain and subdue operational issues, according to Yonhap News.Shares of Hyundai Mobis and Hyundai Motor fell over 4% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Peter Warren Automotive Holdings' (ASX:PWR) guidance for fiscal year 2026 implies a "minimal" underlying profit before tax of up to roughly AU$3 million in the second half, as trading conditions worsened heading into the most important period of the year, Jarden said in a June 1 note.May and June typically contribute a material portion of full-year profits for automotive dealers, but Peter Warren faces multiple headwinds, including a shift to smaller and lower-priced new cars, competition impacting front-end gross margin, and a supply shortage with orders outpacing deliveries, the equity research firm said."Feedback continues to suggest that, at a headline level, new car demand has remained relatively resilient," Jarden said. "However, with broad expectations of house price declines to come, we note new car sales historically have not performed well in this environment."Jarden's earnings estimates for Peter Warren assume "essentially no underlying profit improvement" in the first half of fiscal year 2027 compared with the second half of fiscal year 2026, as well as a lower average price and volume.Despite a sell-off, the stock doesn't screen cheaply versus history on an earnings multiple basis, the investment firm said.It still maintained a buy rating on Peter Warren, saying that the company's net tangible assets sit at a comfortable premium to its share price, while reducing the target price to AU$1.55 from AU$2.50.Shares of Peter Warren gained 1% in recent Tuesday trade.
Tencent (HKG:0700) has begun testing a prototype for its artificial intelligence agent for its WeChat app, paving the way for a launch, the Financial Times reported Tuesday, citing two people with knowledge of the matter.Following testing, which will allow users to complete tasks within the app, public launch could commence as soon as June, the report said.The company could not set a specific date due to uncertainties with compliance protocols, according to the newspaper.Tencent will then test the agent on a group of outside users prior to a phased rollout, the FT said.WeChat users will be able to access the AI agent by swiping right on the app screen, the newspaper said, citing a person who has seen an earlier demonstration.Shares rose 6% in Hong Kong during morning trading on Tuesday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)