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(Bloomberg) — Baidu Inc., Bilibili Inc. and Lenovo Group Ltd. are among the Chinese tech firms in focus for next week’s earnings, just as the easing US-China trade war brings back some optimism for the sector.
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Baidu’s artificial intelligence business will be compared with rivals Alibaba Group Holding Ltd. and Tencent Holdings Ltd. as competition intensifies in the space. Meanwhile, Bilibili continues to see healthy growth in its mobile games segment.
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Expectations for the tech industry got a boost after strong results from Tencent and JD.com Inc., though weaker-than-expected revenue growth from Alibaba may have dented sentiment. There’s also concern that Beijing might pull back stimulus policies as US-China trade tensions abate.
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Xpeng Inc. also saw stronger sales in the first quarter. China’s new energy vehicle makers “appear largely unshaken by the US tariff storm,” said Bloomberg Intelligence’s Joanna Chen.
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Highlights to look out for:
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Monday: No major earnings of note.
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Tuesday: Bilibili (BILI US) will probably post a first-quarter adjusted profit compared with a loss a year earlier, thanks to higher revenue contributions from its value-added services, advertising and mobile games segments, estimates show. Bilibili’s Gen Z audience should help to underpin its ad growth, BI said. The company remains well-positioned to outperform peers that are more exposed to a slowdown in the advertising space, BI added.
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Wednesday: Baidu’s (BIDU US) AI ventures are set to remain unprofitable for the next three years as rivals narrow the gap, BI said. The impact of tariffs on advertising sentiment and cloud adoption will be of interest during the earnings call, Citigroup Inc. added. The firm probably continued to see revenue slide in the first quarter.
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- Xpeng’s (XPEV US) first-quarter revenue likely more than doubled, with vehicle deliveries more than quadrupling, consensus shows. While intense price competition remains a risk, growing differentiation in autonomous driving technology strengthened its competitive positioning, HSBC said. A potential initial public offering of its flying car unit will be closely watched.
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Thursday: Lenovo’s (992 HK) fourth-quarter adjusted profit is expected to have dropped 10%, the first contraction in five quarters. A deterioration of the sales mix in its infrastructure solutions group segment may have diluted the operating margin, BI said, though the business’s profitability may be improving.
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- Singtel’s (ST SP) full-year adjusted net income probably rose 14%, estimates show. Watch for comments on the continued selldown of its Bharti Airtel Ltd. shares, after the telco recently offered to sell a 0.8% stake to potentially raise $1 billion.
- ITC (ITC IN) is expected to say profit was little changed due to weakness in the consumer goods and paper businesses. Kotak Institutional Equities said the former likely saw higher raw material costs, while the latter had weak demand along with competition from cheaper Chinese imports. The cigarettes business, the largest revenue contributor, is expected to have expanded volume and revenue.
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Friday: No major earnings of note.
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