Its number of on-demand delivery transactions grew 25 per cent in the fourth quarter, while the company continues to narrow losses from new initiatives.

Ping An, China’s largest insurer by market capitalisation, said its earnings fell for 2023 to their lowest level in five years, as strong sales of new policies were offset by setbacks in its asset management and technology investment businesses.

China’s state-backed developers are generating more profits from residential sales at the expense of weak rivals, indicating buyers continue to place greater emphasis on safety in capital and home delivery

‘There are only a few [international financial centres], and Hong Kong is one of them. It is hard-won. We must not lose this place,’ CK Hutchison and CK Asset chairman says.

Towngas, which last raised its basic tariff by 4.4 per cent in August 2022, is under pressure to lift gas tariffs this year ‘as we need to invest further in our network infrastructure’, managing director Peter Wong says.

Video game sales, traditionally Tencent’s strongest revenue driver, declined in the fourth quarter.

UK insurer Prudential reported a strong set of results for 2023 driven by higher sales to mainland Chinese visitors as they returned to Hong Kong for better life policies and investment returns.

AIA Group’s new sales in Hong Kong and mainland China continued to grow in the first two months of the year, indicating strong momentum from last year is carrying over in its two major markets, according to its top boss.

NWD plans to launch 2,500 units ahead of schedule to capture the improved sentiment unleashed by the withdrawal of all property curbs in Hong Kong after posting a profit decline for the six months ending on December 31.

Hong Kong Exchanges and Clearing delivers an 18 per cent jump in 2023 earnings as CEO Nicolas Aguzin ends his tenure after a tumultuous three years. Aguzin will pass the baton to Bonnie Chan on Friday.

Operator of Hong Kong’s largest power utility was buoyed by turnaround in fair value related to forward energy contracts, but still missed estimates for profit, revenue.

Tuhu Car, a Chinese car maintenance and repair company listed in Hong Kong, said it expects its financial results for 2023 to reflect a turnaround in its business as a post-pandemic rebound in domestic travel boosted demand for its services.

Hong Kong’s largest family-owned lender said its non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half, as its overall exposure to troubled Chinese property developers shrank.

BYD, the world’s largest electric vehicle (EV) maker, reported on Monday its highest ever quarterly profit, buoyed by surging deliveries and a cost-cutting campaign.

HSBC missed third-quarter profit estimates by a wide margin because of higher bad-debt provisions related to mainland China’s real estate sector and charges associated with its hedging strategy.

Standard Chartered reported worse-than-expected earnings for the third quarter because of high impairment charges related to exposure to China’s property sector.

Both lenders comfortably missed analysts’ estimates for net profit amid a stagnant economic recovery and an escalating property crisis that has dampened creditor confidence, though both reported a slight drop in their non-performing loans ratio.

British insurer Prudential reported strong first-half earnings as new policy sales to mainland Chinese visitors surged as they returned to Hong Kong to buy insurance products after the border reopened earlier this year.

One of China’s biggest banks has issued a warning about slimmer net interest margins even as it reported a higher-than-expected interim profit, as the world’s second-largest economy grapples with slowing growth and a property crisis.

China’s largest insurer by market cap reported a 1.2 per cent decline in first-half profit, as strong sales of new insurance policies were offset by a sharp fall in earnings in its asset management and technology businesses.

Domestic sales of refined oil products at Sinopec rose 18 per cent in the first six months from the previous year, when residents in megacities were completely locked down for months on end

China’s worsening property crisis saw bad loans rise at Bank of East Asia and China Construction Bank, which tarnished otherwise decent first-half earnings.

AIA Group’s new sales value grew 37 per cent in the first half, helped by new policy sales in Hong Kong to mainland Chinese customers seeking better investment returns and a hedge against currency weakness.

CNOOC plans to accelerate the integration of its new energy and oil and gas business after first-half net profit fell 11.3 per cent to US$8.7 billion due to declining crude prices.

Hong Kong Exchanges and Clearing reported its second-highest first-half profit ever, as higher investment income and derivatives trading offset falling turnover and new listings.

International energy prices have been softening since the beginning of the year, says the power provider’s CEO as the company returns to profitability in the first half.

Wharf Reic reported a net profit of HK$1.8 billion (US$230 million) for the first half versus a HK$1.5 billion loss a year earlier, but said recovery was ‘impeded by global geopolitical and economic uncertainties’.

Citi and Jefferies, which have lowered their target prices for the developer’s stock, see more buy-backs as likely given that the company has ‘limited positive catalysts’ to drive its stock price in the near term.

CK Hutchison Holdings and CK Asset Holdings, the two flagship companies of Hong Kong’s richest man Li Ka-shing, reported a drop in their first-half earnings, as the high interest rate environment continued to pile pressure on businesses in the city.