Daily Brief China: JS Global Lifestyle, NIO Inc, Guangzhou R&F Properties, NetEase and more

• Back on the 23 February, household appliance maker JS Global Lifestyle (1691 HK) proposed spinning off SharkNinja’s ex-Asia Pac ops in the U.S.  
• This spin-off would be undertaken as a distribution in-specie, creating a parallel listing structure for SharkNinja and the remaining operations.
• Shareholders of JSG will vote on the separate listing at the EGM on the 26 June, with the last day cum-entitlement on the 27 June.

• Electric-vehicle maker Nio Inc. ended its holdout in China’s car price war and slashed base prices on all of its vehicles by 30,000 yuan ($4,200) in hopes of bolstering sales amid escalating competition in China, the world’s largest auto market.
• Nio also pulled the plug on its free battery-exchange service for car buyers and introduced a pay-as-you-go system and a 30,000 yuan lifetime swap service.
• The vehicle price cuts announced Monday will reduce the starting price of Nio’s new electric SUV ES6 to 338,000 yuan. The price of the mid-size electric sedan model ET5 will be lowered to 298,000 yuan. The changes take effect immediately, Nio said.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Vedanta Resources
2. Tata Motors Ltd
3. Health And Happiness (H&H)
4. Central China Real Estate
5. Agile Property Holdings

and more…

• NetEase delivered a mixed result in the recent quarter with revenues above market expectations but it failed to surpass the analyst consensus in terms of earnings.
• The company experienced positive momentum with increased net revenues and significant growth in net income attributable to NetEase shareholders.
• The company’s strong growth in Q3, with increased revenues, robust net income, and sustained Chinese audience engagement, positions them for future success.