TODAY'S ASIA TECH: Tesla, Shein, TSMC, SoftBank

 Apple Inc. will be the first company to get chips built on TSMC's 2nm process, according to Taiwanese media outlet DigiTimes.

TSMC is likely to start producing chips with its 2nm process from the second half of 2025, the sources said. And industry speculation suggested that Apple will use these chips for its iPhone 17 Pro series, which is set to be released by the end of 2025.

Chinese EV charging pile manufacturer StarCharge is considering an initial public offering (IPO) in Hong Kong, with plans to raise around $500 million.

Singapore-based fast-fashion retailer Shein has a valuation as low as $45 billion, as Shein investors were trying to sell their stake in the private market, per Bloomberg.

The online retail giant has seen its valuation shrink steadily over the past two years as it pushes ahead with its U.S. IPO plans.

In May last year, Shein raised $2 billion at a valuation of $66 billion. And in April 2022, it hit a valuation of $100 billion at one point after closing a $1 billion funding round.

Tesla Inc. isn't big enough in Japan, and the company's CEO Elon Musk is unhappy with its very low sales in the world's third-largest auto market.

In a conference call for Tesla's fourth-quarter and full year 2023 financial results, Musk said that the automaker will be driven by energy storage and fully self-driving as Chinese firms become highly competitive.

Japan's SoftBank Group has confirmed that it reduced its stake in Chinese e-commerce giant Alibaba Group Holding Ltd. (9988:HK), according to multiple Chinese media reports on Thursday.

Dutch chip equipment giant ASML's CFO Roger Dassen said on Wednesday that the impact on sales in the Chinese market in 2024 will be 10% to 15% after the latest export control regulations from the Netherlands and the United States come into effect.

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