05/04/2021 Financial News: 33 Mobile Apps identified Breaking Data Privacy Rules; Honeywell Fined Millions over Exporting Sensitive Info to CCP

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1.Communist China Internet Watchdog Says 33 Mobile Apps Broke Data Privacy Rules

The Cyberspace Administration of China (CAC), Communist China’s main internet watchdog, in a statement on its official website, identified that 33 mobile phone apps have broken data privacy rules by collecting data without consent, among other issues. Companies have 10 days to comply with the rules or face a fine.

2.Communist China Companies Continue to Go Public in the U.S.

(Cailian) The “wave” of Communist China companies going public in the U.S. is still high despite the CCP Virus Pandemic and regulatory risks, which has driven the U.S. IPO market through its busiest quarter in two decades. The last round of the hot IPO going public dated back in the dot-com bubble era. But unlike the dot-com bubble, this year’s market sees more money pouring into unicorns than startups. From the perspective of the performance of unicorn stocks, the value of some stocks may have been overestimated. It is estimated there will be about 60 IPO listing on NYSE this year.

3.Liquor Companies Net Profit Fell

The liquor companies have all dsclosed their annual reports. Last year, 19 listed liquor companies reported a total net profit of 95.864 billion yuan, of which Guizhou Maotai accounted for 52%. 11 liquor companies reported positive net profit growth, while 8 reported a decline in net profit. The median net profit growth rate was 2.73%.

4.Billionaire Jack Ma reportedly Might Give up His Stake in Ant Group

Communist China billionaire and Alibaba founder Jack Ma might give up his stake in Ant Group after being noticeably absent from public life. Sources recently told Reuters Ant Group executives and Communist China regulators are considering Ma’s potential exit from the company after the billionaire criticized global financial regulators, calling them an “old people’s club” ill-suited to oversee tech innovation.

5.Hang Seng Index fell 1.28% Entertainment Stocks Fell, Medical Field Concept Stocks Soared

(Xinhua) The Hang Seng Index fell by 1.28% to 28,357.54 points at close on Monday; the SOE Index fell by 1.04% and the Red Chip Index fell by 1.33%. Hong Kong stocks closed down 424 points in the morning. The decline was extended in the afternoon. The A-share market in mainland Communist China is closed on May 1, the International Labor Day. The trading volume in Hong Kong market is quite low, just over 100 billion yuan.

6.Honeywell Fined Millions over Exporting Sensitive Info on F-22, F-35 and More to China

The U.S. government and defense contractor Honeywell have reached a settlement over alleged violations of portions of the Arms Export Control Act, or AECA, and the International Traffic in Arms Regulations, or ITAR. The matter at hand had to do with Honeywell’s alleged unauthorized export of dozens of technical drawings relating to components of various aircraft, missiles, and tanks, including the F-35 Joint Strike Fighter, the F-22 Raptor stealth fighter, the B-1B bomber, the Tomahawk cruise missile, and the M1A1 Abrams, to multiple countries, including Communist China. Honeywell agreed to pay $13 million in civil penalties.

By 【Financial Team – Opal】

News Collection: Sharon G, Wendy

Proofreading: Apple

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