GreenergyDaily
Aug. 26, 2024
1. Xpeng chairman and CEO He Xiaopeng has increased his stake in his company in an attempt to revive investor confidence. As Xpeng's controlling shareholder, Mr. He purchased a total of 1 million Class A ordinary shares of the company in the Hong Kong stock market on August 21-23 at an average price of HK$27.13 per Class A ordinary share, according to a Hong Kong stock exchange announcement today.
2. The Biden-Harris administration this week is expected to announce final implementation plans for steep tariff increases on certain Chinese imports, and if U.S. industry gets its way, many of the planned duties would be softened. Manufacturers from electric vehicles to electric utility equipment have asked for the higher tariff rates to be reduced, delayed or abandoned, and for potential exclusions to be greatly expanded.
3. China resolutely opposes the placing of some Chinese entities on the US export control "entity list" and urges the US side to immediately stop its wrong actions, a Chinese commerce ministry spokesperson said Sunday in response to a media query on the latest move by US Department of Commerce under so-called Russia-related excuses, noting it undermines the international trade order and rules, impedes normal international economic and trade exchanges, and affects the security and stability of the global industrial and supply chains.
4. China's total installed power generation capacity reached approximately 3.1 billion kW by the end of July, up 14% YoY. The installed capacity of solar power increased 49.8% YoY to 740 million kW, while that of wind power rose 19.8% YoY to 470 million kW, according to data from the National Energy Administration.
5. Chinese researchers have developed a new method of massive water production through the reaction between lunar regolith and endogenous hydrogen, using lunar regolith samples brought back by the Chang'e-5 mission. They confirmed that 1 tonne of lunar regolith can produce more than 50 kg of water through this method, which can meet the daily drinking water needs of 50 people per day.
6. The revolution in the green building sector will open a $1.8 trillion global market opportunity by 2030, while China, as the world's largest construction market, can play a critical role in driving sustainable change across the global building industry, according to a report released by global consultancy Boston Consulting Group and World Economic Forum.
7. China's Sinopec posted a 2.6% rise in net profit for the first half of the year, it said on Sunday, as record oil and gas output compensated for falling domestic demand for refined fuel and petrochemicals. China Petroleum & Chemical Corp, as Sinopec is officially known, reported on Sunday a net income of 37.1 billion yuan ($5.21 billion) for January to June, according to a filing with the Shanghai stock exchange.
8. Iron ore extended a rebound with China’s massive inventories of the steelmaking staple continuing to drop, a tentative sign that a period of severe oversupply is starting to ease. Stockpiles held at Chinese ports have now fallen for the last four weeks, according to data released late Friday, after ballooning to above 150 million tons in late July. The pullback has provided a glimmer of hope for bulls, although iron ore is still down almost 30% this year.
9. Preorders of the Stelato S9, the EV model jointly developed by Huawei and BAIC BluePark New Energy Technology, exceeded 8,000 in the 20 days after its debut, the Chinese tech giant said today. The S9 comes in two editions, priced at CNY399,800 (USD55,850) and CNY449,800.
10. Since 2010, battery costs have fallen by more than 90% — offering opportunities to cut emissions in road transport & electricity. In 2023, electric car sales rose to almost 14 million. And battery storage deployment in the power sector more than doubled, according to IEA.
