RBC raises Oracle (ORCL.N) PT to $190 from $160.

June 5, Jinhua, Zhejiang — Panhub Power and the Ningbo Institute of Materials, Chinese Academy of Sciences jointly developed a dedicated permanent-magnet steel that markedly improves compatibility with axial-flux motors. The material yields large gains in magnetic energy product, high-temperature stability and mechanical strength, boosting axial-flux motors' efficiency, power/torque density and long-term operational stability while better balancing peak performance and lifecycle cost. The developers say the advance provides key support for a domestically autonomous, full-process axial-flux electric-drive supply chain and large-scale market deployment aimed at benchmarking international leaders.

Shenzhen Zhongtou No.1 Major Industry Ecosystem Development Private Equity Fund (LP) was established with committed capital of CNY3.94 billion. Executive general partners are Shenzhen Zhongtou Capital Management Co. and Agricultural Bank Capital Management Co.; investors include Agricultural Bank Financial Asset Investment Co., Shenzhen Major Industry Investment Group, Ningbo Yongyuan Investment Fund, Foshan Innovation & Entrepreneurship Investment Co. and Qianhai Financial Holdings. The fund’s stated scope covers equity investment, investment management and asset management via private funds.