Leapmotor Working with Stellantis on Local Production

Zhejiang Leapmotor Technology, says the Chinese electric vehicle maker may tap facilities owned by its partner Stellantis to expand production in Europe. Leapmotor Co-President Michael Wu spoke exclusively with David Ingles on "Bloomberg: The China Show" in an exclusive interview from the sidelines of the BNP Paribas Global Electric Vehicle & Mobility Conference. (Source: Bloomberg)

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Bloomberg

43 minutes ago

• Bloomberg

Sanhua Set for HK Trading Debut After $1.2 Billion Listing

Zhejiang Sanhua Intelligent Controls Co., the Chinese maker of fridge parts that's working on becoming a cutting-edge robotics company, will begin trading in Hong Kong on Monday after its HK$9.3 billion ($1.2 billion) debut stock offering. Its shares fell in Hong Kong's gray market on Friday ahead of the debut. They had been sold at HK$22.53 each, the high end of their marketed range, and attracted blue-chip cornerstone investors such as Jane Street Group, GIC Pte and Schroders Plc.

Business Insider

an hour ago

• Business Insider

Upcoming Stock Splits This Week (June 23 to June 27)

These are the upcoming stock splits for the week of June 23 to June 27, based on TipRanks' Stock Splits Calendar. A stock split takes place when a company increases its number of outstanding shares by issuing more to existing shareholders, effectively reducing the price per share without altering the firm's overall market capitalization. While the underlying value remains the same, the lower share price makes the stock more accessible to everyday investors and may help boost market interest. Confident Investing Starts Here: Meanwhile, a reverse stock split does the opposite, shrinking the share count by consolidating existing shares into fewer units. This pushes the stock price higher while keeping the total valuation the same. It's a common move for companies trying to meet exchange listing requirements, especially if their share price is flirting with minimum thresholds like those set by the Nasdaq. Whether it's about attracting more investors or holding onto a listing, these corporate actions can offer valuable clues about a company's strategy and where it sees itself heading next. Let's take a look at the upcoming stock splits for the week. Pegasystems (PEGA) – Pegasystems is a leading provider of enterprise AI-powered decisioning and workflow automation software. On June 17, the company announced a 2-for-1 forward stock split, aimed at improving share accessibility for retail investors. PEGA stock is expected to begin trading on a split-adjusted basis on June 23. TruGolf Holdings (TRUG) – Specializing in high-end golf simulator technology, TruGolf aims to bring the driving range indoors. On June 18, the company announced a 1-for-50 reverse stock split to help maintain compliance with Nasdaq's listing requirements. The split is set to take effect on June 23. Maase (MAAS) – China-based Maase, a digital platform company, is switching from trading American Depositary Shares (ADSs) to listing its regular shares directly on the Nasdaq. To prepare for this transition, the company announced a 1-for-90 reverse stock split on June 18, meaning every 90 ADSs will be converted into one regular share. The split takes effect when the market opens on June 23, 2025. Super League Enterprise (SLE) – Super League builds immersive experiences across gaming and metaverse platforms. On June 18, the company announced a 1-for-40 reverse stock split, designed to boost the share price and extend its Nasdaq listing runway. The stock will begin trading on a split-adjusted basis on June 23. KULR Technology Group (KULR) – Focused on thermal management and battery safety for aerospace and EV markets, KULR announced a 1-for-8 reverse stock split on June 13 to regain compliance with Nasdaq's minimum bid price rule. The stock will begin trading on a split-adjusted basis on June 23. Stem, Inc. (STEM) – Leveraging AI to boost grid-scale energy efficiency, Stem announced a 1-for-20 reverse stock split on June 11 to comply with the NYSE's minimum bid price requirement. The stock will begin trading on a split-adjusted basis on June 23. Cellectar Biosciences (CLRB) – Cellectar is a clinical-stage biotech developing phospholipid drug conjugates for targeted cancer treatment. On June 18, the company announced a 1-for-30 reverse stock split, following shareholder approval the prior week. The move is aimed at regaining compliance with Nasdaq's minimum bid price requirement. The split is slated to go into effect on June 24. Jiade Limited (JDZG) – China-based Jiade Limited, which focuses on adult education and logistics services, announced on June 20 that it would implement a 1-for-8 reverse stock split, effective June 24, consolidating its shares and updating its CUSIP to regain compliance with Nasdaq's minimum bid price requirement.

Bloomberg

2 hours ago

• Bloomberg

Two Supertankers U-Turn in Strait of Hormuz After US Strikes

Two supertankers both capable of hauling about 2 million barrels of crude U-turned in the Strait of Hormuz after US airstrikes on Iran raised the risk of a response that will ensnare commercial shipping in the region. The Coswisdom Lake and South Loyalty both entered the waterway and abruptly changed course on Sunday, according to vessel tracking data compiled by Bloomberg. The two empty freighters then sailed south, away from the mouth of the Persian Gulf.