Ping An opens cloud service to other firms -- Ping An Technology, Ping An Group's Shenzhen-based high-tech arm, will start to expand its full-stack cloud service to companies outside the group, according to a senior company executive. "By serving our own internal business for five years we have gained significant experience. So we think it is time for us to expand the cloud service to other companies and industries, because demand from the external ecosystem is very high," said Ericson Chan, CEO of Ping An Technology.
Gree Electric Appliances (000651.SZ) reports 37pct net profits growth in Q1-3 -- Gree Electric Appliances, Inc. (000651.SZ) on October 30 reported its net profits in the first three quarter of 2018 went up 36.59 percent year on year to be 21.118 billion yuan. According to a filing to the stock exchange, the company's operating revenue during the period amounted to148.699 billion yuan, growing 34.11 percent from a year ago.
CASIC releases road map on space material commercial development -- China Aerospace Science and Industry Corporation Limited (CASIC), a state-owned high-tech enterprise, unveiled its road map on space material commercial development on the 2nd Forum on Advanced Materials and Technologies 2018 held in Changsha, capital of central China's Hunan Province, on October 30. CASIC plans to conduct ground simulation test and space verification of typical materials in one or two years, try producing small patches of space materials to complete ground and space applications in another three to five years, and then refine space material commercial development mode and build space material industry ecology in the coming five to ten years, according to the road map.
Baidu cooperates with Changsha to build automatic driving city -- Baidu and Changsha city have reached a comprehensive cooperation agreement to transform the capital city of Central China's Hunan Province into an automatic driving demonstration city, based on the tech giant's autonomous driving platform Apollo. According to the agreement, a batch of autonomous driving taxis will be put into trial operation in the city of Changsha, which has never been carried out in any cities throughout China, and the number of the autonomous taxis is expected to reach 100 in 2019.
PetroChina (601857.SH) sees net profit jump 177 pct in Q1-Q3 -- Petrochina Company Limited (601857.SH) announced on October 31 that its net profit jumped 177 percent year on year to about 48.12 billion yuan in the first three quarters of 2018. According to PetroChina's quarterly report, the company achieved an operating income of about 1.71 trillion yuan in the first three quarters of this year, a year-on-year increase of 17.3 percent, and basic earnings per share was 0.263 yuan.
China's commercial aircraft developer to integrate AI into planes -- The Commercial Aircraft Corporation of China (COMAC) has established an innovation center for artificial intelligence (AI), the company said October 30. The AI innovation center aims to facilitate the in-depth application of AI technologies in the development of China's commercial aircraft and to strengthen the company's innovation capacity, said COMAC.
China's Shenzhen opens 1st direct flight to London -- Shenzhen Airlines on October 30 launched the first non-stop flight between the southern Chinese boom town of Shenzhen and London. The first flight on the new route took off from Shenzhen Bao'an International Airport at 2:10 p.m. on October 30, according to Shenzhen Airlines.
China's Huawei, Spanish institute co-launch cybersecurity competition -- The Chinese high-tech company Huawei and the Spanish National Cybersecurity Institute (INCIBE) launched a competition on cybersecurity to encourage young talents on the "key area for a safer society", Huawei CEO in Spain Tony Jin Yong said during a presentation to Xinhua. "The purpose is not so useful for Huawei, but for society, we need to promote cybersecurity in Spain, we have to inspire them to contribute to cybersecurity, this is just the beginning," he said.
Ping An Insurance plans to buy back shares -- Ping An Insurance (Group) Company of China, Ltd. announced on October 29 that it plans to repurchase a total of no more than 10 percent of its publically issued domestic and overseas shares. The company's A shares declined 5.4 percent to stand at 62 yuan (8.90 U.S. dollars) per share as of closing on October 29. If calculated according to the 10 percent repurchase limit, there will be funds worth approximately 110 billion yuan (about 15.81 billion U.S. dollars) injected into the market.
Tencent tightens user ID checks on its popular game -- China's internet giant Tencent implemented a real-name identification system (RNIS) for users of its popular mobile game "Honor of Kings", further tightening restrictions on underage players. The company introduced the RNIS in September which asks new game users to provide their identification details to be checked against a police database.
Industrial Bank's outstanding green finance loans exceed 800 bln yuan -- The Industrial Bank (IB) had seen its outstanding loans of green finance reach over 800 billion yuan (about 115 billion U.S. dollars) by the end of September. More than 16,000 enterprises had received over 1.6 trillion yuan of green finance from the bank by the end of last month, said IB's president Tao Yiping.
Swiss tech giant ABB to build new robotics factory in Shanghai -- Swiss industrial technology giant ABB on October 27 announced an investment of 150 million U.S. dollars in Shanghai to build a new advanced robotic factory where "robots make robots." The new Kangqiao manufacturing center will be located in Shanghai's Pudong New Area, near ABB's current China robotics campus. The center will combine the company's connected digital technologies, including ABB Ability solutions, state-of-the-art collaborative robotics and innovative artificial intelligence research to create the sophisticated and environmentally sustainable "factory of the future".
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