In today’s briefing:
- The Big Question: Can Today’s AI Surge Last?
- China Property Developers In Distress – Weekly News & Announcements Tracker | Feb 23-29, 2024
- Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says
- Japan Weekly | Record Highs…But More to Come
- AUCTUS ON FRIDAY – 01/03/2024
- Wind and Solar Power Traded on China’s Electricity Market Doubles in Two Years
The Big Question: Can Today’s AI Surge Last?
- The AI GPU market has been exploding, and this has turned the DRAM market’s downturn into a strong upturn
- With this growth, DRAM manufacturers have seen their business turn around, thanks to increased use of HBM
- Two questions concern us: Will AI growth last? Will increased competition in HBM DRAM create a price collapse?
China Property Developers In Distress – Weekly News & Announcements Tracker | Feb 23-29, 2024
- This note is a weekly curated selection of Chinese news articles and company announcements focused on developers in distress
- We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
- We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to sources
Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says
- A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets, but uncertainty in the offshore investment environment is also rising, a report by a think tank part of state-owned oil giant China National Petroleum Corp. (CNPC) found.
- The total value of global oil and gas mergers and acquisitions skyrocketed to more than $250 billion last year, including mega deals involving ExxonMobil and Chevron, making 2023 the largest upstream annual spend in more than a decade.
- “The competitive landscape is reshaping, and the era of mega mergers in the industry has arrived,” Wu Moyuan, vice president of CNPC Economic and Technological Research Institute, said Wednesday at the release of the report.
Japan Weekly | Record Highs…But More to Come
- The Nikkei 225 Index surged 2% to a record high of 39,911, driven by a weak yen, robust corporate earnings, and optimism surrounding artificial intelligence
- Japan’s stock market has quietly undergone a significant transformation, emerging as an increasingly attractive investment prospect. Investors are Underweight
- The decline of cross-shareholdings signals a positive shift towards improved capital allocation and, enhanced shareholder value. I see TWO key positives….
AUCTUS ON FRIDAY – 01/03/2024
- ADX Energy (ADX AU)C; target price of £A$0.65 per share: High impact well spud in Austria – The Welchau-1 gas exploration well was spudded on 24 February.
- Calima Energy (CE1 AU)C; target price of A$0.13 per share: Completing divestment of Blackspur – Blackspur has been sold for A$81.6 mm, after tax provisions and net debt adjustments.
- Calima will distribute A$80 mm (~A$12.6 per share) as dividends.
Wind and Solar Power Traded on China’s Electricity Market Doubles in Two Years
- Nearly half of the power traded on China’s electricity market in 2023 came from wind and solar plants, doubling from just two years ago, according to an energy expert.
- The portion of “new energy”— which refers to wind and solar energy — in the total amount of power traded last year surged to 44%, up from 22% in 2021 and 32% in 2022, according to figures released at an industry seminar held in Beijing on Tuesday.
- New energy is expected to be “fully integrated” in the country’s electricity trading by 2030 as Beijing deepens its power reforms, said Dong Feifei, a power engineer who presented the figures.
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