https://www.scmp.com/rss/10/feed Corporate business news on companies from Hong Kong and overseas. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zoe SL Chan Zoe SL Chan Hong Kong Exchanges and Clearing (HKEX), the operator of Asia’s third-largest stock market, has reported its first year-on-year decline in quarterly profit in over two years amid a slowdown in market turnover, with profits falling 10 percent compared to the previous quarter. Net profit for the three months to September fell 1 per cent year on year to HK$4.859 billion (US$620 million), or HK$3.84 per share, but beating analysts’ estimates of HK$4.7 billion, according to an exchange filing on... https://www.scmp.com/business/markets/article/3373489/hkex-posts-first-quarterly-profit-decline-over-2-years-hong-kong-market-cools https://www.scmp.com/business/markets/article/3373489/hkex-posts-first-quarterly-profit-decline-over-2-years-hong-kong-market-cools Fri, 06 Nov 2026 04:17:39 +0000 Zhu Wenqian Zhu Wenqian US apparel retailer Levi Strauss & Co says it is bullish on China and plans further investment and new store openings in the market, riding robust growth driven by young shoppers. While the consumer market in China remains challenging for many multinationals, with a host of foreign brands shuttering stores amid rapid market shifts and broader consumption headwinds, Levi’s sees itself as an exception. “We are going to be able to see China become a much bigger portion of our business globally,”... https://www.scmp.com/business/companies/article/3373396/bullish-china-us-brand-levis-bucks-retail-headwinds-localisation-strategies https://www.scmp.com/business/companies/article/3373396/bullish-china-us-brand-levis-bucks-retail-headwinds-localisation-strategies Fri, 06 Nov 2026 00:00:12 +0000 Chong Ming Lee,Mia Nurmamat Chong Ming Lee,Mia Nurmamat Elon Musk bet nearly half a billion dollars that political spending could keep Washington friendly to his sprawling business empire. On Tuesday, that bet came up short. As Democrats recaptured control of the US Congress in the midterm elections, the world’s richest man found himself facing an abruptly altered political landscape. After pouring a record-breaking US$474 million into political groups – overwhelmingly backing Republicans – Musk now faces a divided Washington keen to examine his... https://www.scmp.com/tech/big-tech/article/3373422/after-us474m-gamble-flops-what-happens-now-elon-musks-tesla-spacex-and-china-ties https://www.scmp.com/tech/big-tech/article/3373422/after-us474m-gamble-flops-what-happens-now-elon-musks-tesla-spacex-and-china-ties Thu, 05 Nov 2026 15:00:08 +0000 Iris Deng Iris Deng Huawei Technologies has launched its first desktop computer powered by its proprietary operating system, HarmonyOS, touting the device as “100 per cent domestically made” in its latest push for technological self-reliance. The Shenzhen-based company on Thursday unveiled its Qinyun HM650 series desktop computers for enterprise and government users, powered by the self-developed Kirin X90 processor, which debuted in Huawei’s consumer laptops and tablets last year. The tech giant said the new... https://www.scmp.com/tech/tech-trends/article/3373435/no-intel-no-qualcomm-huawei-unveils-desktop-built-entirely-china-made-components https://www.scmp.com/tech/tech-trends/article/3373435/no-intel-no-qualcomm-huawei-unveils-desktop-built-entirely-china-made-components Thu, 05 Nov 2026 13:15:05 +0000 Reuters Reuters China’s state planner has told Japanese investor SoftBank it will not allow the US$5.4 billion acquisition ‌of the robotics segment of engineering group ABB to go ahead, the Swiss firm said on Thursday. The case marks the second major deal blocked by China this year after Meta Platforms was ordered to unwind its US$2 billion-plus acquisition of artificial intelligence start-up Manus. The news comes as Beijing tightens scrutiny of foreign investment in domestic start-ups that are developing... https://www.scmp.com/business/china-business/article/3373415/china-blocks-softbanks-us54-billion-takeover-abbs-robotics-division https://www.scmp.com/business/china-business/article/3373415/china-blocks-softbanks-us54-billion-takeover-abbs-robotics-division Thu, 05 Nov 2026 10:23:53 +0000 Zhu Wenqian Zhu Wenqian China’s Yutong Bus, the world’s largest electric bus manufacturer, is seeing its overseas shipments climb steadily, with demand growing rapidly in countries such as Australia, Malaysia, Saudi Arabia and Morocco. Based in Zhengzhou in central China’s Henan province, the company now generates more than half of its total revenue from overseas sales. New-energy models – comprising pure-electric and hybrid vehicles – have made up 25 per cent of its bus exports so far this year, a sharp increase from... https://www.scmp.com/business/china-business/article/3373397/chinas-yutong-bus-expands-overseas-new-energy-bus-exports-surge https://www.scmp.com/business/china-business/article/3373397/chinas-yutong-bus-expands-overseas-new-energy-bus-exports-surge Thu, 05 Nov 2026 09:29:20 +0000 Wency Chen Wency Chen Dong Mingzhu chairs Gree Electric Appliances, a home-appliance giant based in southern China’s Guangdong province. Having worked her way up from a frontline sales job, she is one of China’s best-known figures in manufacturing. As a deputy to the National People’s Congress, she has long advocated for manufacturing innovation, higher incomes and greener consumption. In this interview, conducted when she was named an inaugural “Cool Leader” at an assembly of the UN Environment Programme’s Cool... https://www.scmp.com/plus/tech/big-tech/article/3373365/chinas-appliance-queen-her-firms-quest-greener-cooling-and-going-global https://www.scmp.com/plus/tech/big-tech/article/3373365/chinas-appliance-queen-her-firms-quest-greener-cooling-and-going-global Thu, 05 Nov 2026 07:23:30 +0000 Zhu Wenqian Zhu Wenqian China’s securities regulator has ordered three Hong Kong initial public offering (IPO) applicants to submit additional documentation amid an intensifying crackdown on tax compliance. The China Securities Regulatory Commission (CSRC) said it has asked Fujian Senda Electric, a Fuzhou, Fujian province-based company trading on Beijing’s National Equities Exchange and Quotations board, to disclose details on internal dividend approvals, dividend fund flows, and compliance with tax and other... https://www.scmp.com/business/companies/article/3373346/csrc-requests-further-tax-records-hong-kong-ipo-applicants-amid-tighter-oversight https://www.scmp.com/business/companies/article/3373346/csrc-requests-further-tax-records-hong-kong-ipo-applicants-amid-tighter-oversight Thu, 05 Nov 2026 06:00:08 +0000 Themis Qi,Tim Yuen Lingk Themis Qi,Tim Yuen Lingk Most asset managers in Hong Kong expect broader access to mainland China’s two Nasdaq-style stock markets to strengthen the city’s private wealth business, an industry survey shows, as hard-tech firms continue to attract investors despite a recent pullback. The report, released by the Private Wealth Management Association (PWMA) and KPMG China, surveyed most of the association’s 44 institutional members, ranging from Agricultural Bank of China (Hong Kong) to UBS, as well as asset managers and... https://www.scmp.com/business/banking-finance/article/3373269/why-hong-kong-wealth-managers-want-broader-access-mainland-chinas-nasdaq-style-markets https://www.scmp.com/business/banking-finance/article/3373269/why-hong-kong-wealth-managers-want-broader-access-mainland-chinas-nasdaq-style-markets Thu, 05 Nov 2026 01:00:12 +0000 Chris Tsang Chris Tsang New World Development’s recent announcement that its Shanghai K11 Elysea office project has reached an occupancy rate of about 80 per cent may pave the way for the indebted group’s next securitisation exercise, analysts say, adding that it could generate 100 million yuan (US$15 million) in annual net operating income. The company said on Tuesday that new tenants, including luxury brands Hermes and Rolex, were preparing to move into the project’s office component on Huaihai Middle Road. Others... https://www.scmp.com/business/companies/article/3373251/could-shanghai-project-smooth-indebted-new-worlds-path-cash https://www.scmp.com/business/companies/article/3373251/could-shanghai-project-smooth-indebted-new-worlds-path-cash Wed, 04 Nov 2026 23:00:14 +0000 Daniel Ren Daniel Ren US stocks rose after markets opened on Wednesday following the Democrats’ crushing victory in the US midterm elections, as the convincing result lifted some of the political uncertainty hanging over Wall Street. The S&P 500 opened 1.1 per cent higher at 9.30am local time, while the Dow Jones Industrial Average added 1.9 per cent after trading started and the Nasdaq Composite jumped 1.1 per cent. Analysts said the buoyant sentiment reflected investors’ eased concerns about abrupt policy shifts in... https://www.scmp.com/business/companies/article/3373309/democrats-midterm-triumph-sends-us-stocks-soaring-tesla-spacex-fall https://www.scmp.com/business/companies/article/3373309/democrats-midterm-triumph-sends-us-stocks-soaring-tesla-spacex-fall Wed, 04 Nov 2026 15:06:38 +0000 Xinmei Shen Xinmei Shen Two cancer vaccines from Hong Kong-based Sequencio Therapeutics have been selected for presentation at a major US conference, as companies bet on therapies based on ribonucleic acid (RNA) to deliver breakthroughs in cancer treatment. Sequencio, a subsidiary of Li Ka-shing-backed CK Life Sciences, said on Wednesday that it will present preclinical data on cancer vaccine candidates CKLS118 and CKLS202 at the Society for Immunotherapy of Cancer (SITC) conference on Friday in Phoenix, Arizona. The... https://www.scmp.com/business/companies/article/3373234/2-cancer-drugs-li-ka-shing-backed-sequencio-garner-global-attention https://www.scmp.com/business/companies/article/3373234/2-cancer-drugs-li-ka-shing-backed-sequencio-garner-global-attention Wed, 04 Nov 2026 07:01:26 +0000 Iris Deng Iris Deng Chinese tech giant Tencent Holdings has rolled out its latest flagship artificial intelligence model, Hy4, seeking to challenge top open-weight rivals with enhanced agentic capabilities built to power its enterprise software ecosystem. Released on Wednesday, the large language model (LLM) introduced visual understanding for the first time. Hy4 could process images, analyse complex charts and conduct visual mathematical reasoning, according to the Shenzhen-based company. Tencent said the release... https://www.scmp.com/tech/big-tech/article/3373227/tencent-unveils-hy4-open-weight-ai-race-deepseek-zai-alibaba-heats https://www.scmp.com/tech/big-tech/article/3373227/tencent-unveils-hy4-open-weight-ai-race-deepseek-zai-alibaba-heats Wed, 04 Nov 2026 07:01:09 +0000 Xinmei Shen Xinmei Shen Private banking giant Julius Baer expects Asia to play a major role in its growth in the near term as investors seek diversification amid rising AI risks in the US, according to its chief executive. “The AI bubble is building and lots of people are very nervous about how much AI risk they have,” Julius Baer group CEO Stefan Bollinger said in an interview in Hong Kong on Tuesday. Investors who have long been “over-indexed” to the US dollar and US equities now face increased exposure, as... https://www.scmp.com/business/banking-finance/article/3373195/asia-drive-julius-baer-growth-investors-diversify-amid-looming-us-ai-risks-ceo https://www.scmp.com/business/banking-finance/article/3373195/asia-drive-julius-baer-growth-investors-diversify-amid-looming-us-ai-risks-ceo Wed, 04 Nov 2026 03:00:16 +0000 Ji Siqi Ji Siqi As concerns over the financial health of a state-owned conglomerate rattled China’s bond market over the past week, analysts said its challenges reflected the lasting toll of the country’s prolonged property crisis, with local governments struggling to find sustainable alternatives beyond real estate to support their economies. At the centre of the storm is Zhuhai Huafa Group, the largest local government-owned enterprise in Zhuhai in southern China’s Guangdong province. While property... https://www.scmp.com/economy/china-economy/article/3373162/debt-fears-swirling-around-state-giant-shine-light-chinas-post-property-reality https://www.scmp.com/economy/china-economy/article/3373162/debt-fears-swirling-around-state-giant-shine-light-chinas-post-property-reality Wed, 04 Nov 2026 01:00:13 +0000 Daniel Ren Daniel Ren China’s central bank governor has reaffirmed support for the country’s beleaguered stock market after a series of rescue measures failed to put a floor under plummeting share prices. Pan Gongsheng, governor of the People’s Bank of China (PBOC), pledged in a work report presented to the standing committee of the National People’s Congress on Tuesday that more actions would be taken to ease financial risks in key areas, including the capital market and the property sector. “Monetary policy tools... https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts Tue, 03 Nov 2026 12:50:16 +0000 Yulu Ao Yulu Ao Global financial executives have voiced confidence in Hong Kong’s role as a bridge between mainland China and the rest of the world and as a safe haven helping businesses and investors navigate geopolitical tensions and shifting global capital flows. Speaking at the city’s annual Global Financial Leaders’ Investment Summit on Tuesday, banking leaders discussed how financial institutions were rethinking business and operational strategies in an increasingly uncertain environment, while... https://www.scmp.com/business/china-business/article/3373156/amid-global-uncertainty-top-bankers-back-hong-kongs-role-mainland-chinas-gateway https://www.scmp.com/business/china-business/article/3373156/amid-global-uncertainty-top-bankers-back-hong-kongs-role-mainland-chinas-gateway Tue, 03 Nov 2026 11:08:20 +0000 Sylvia Ma Sylvia Ma China plans to expand foreign exchange settlement services and streamline cross-border trade payments, in a move to lower transaction costs and facilitate international commerce. The State Administration of Foreign Exchange (Safe) on Monday released a draft notice for public consultation outlining nine measures to facilitate current-account foreign exchange transactions. The proposals aimed to “broaden the applicable scenarios, scope and types of services” and “further reduce businesses’ fund... https://www.scmp.com/economy/policy/article/3373093/china-moves-simplify-forex-settlements-and-make-cross-border-business-easier https://www.scmp.com/economy/policy/article/3373093/china-moves-simplify-forex-settlements-and-make-cross-border-business-easier Tue, 03 Nov 2026 07:00:08 +0000 Daniel Ren Daniel Ren Chinese carmakers’ marketing tactics are under the spotlight after a controversy surrounding a comment by an Xpeng employee drew harsh criticism from middle-aged consumers. The incident comes as regulators step up quality checks on the reliability of automotive companies, according to industry officials and analysts. During a live-streamed new model launch ceremony on October 15, an Xpeng product manager used the term lao deng – a slang term referring to middle-aged people who appear to be... https://www.scmp.com/business/china-business/article/3372984/sales-slow-carmakers-china-turn-overt-marketing-tactics-and-face-controversy https://www.scmp.com/business/china-business/article/3372984/sales-slow-carmakers-china-turn-overt-marketing-tactics-and-face-controversy Tue, 03 Nov 2026 00:00:29 +0000 Zoe SL Chan Zoe SL Chan Bourse operator Hong Kong Exchanges and Clearing (HKEX) is taking a further step towards round-the-clock trading by pushing back the closing bell for its after-hours derivatives market by 75 minutes from next year, according to a statement released on Monday. The derivatives After-Hours Trading (AHT) session would extend to 4.15am from 3am, Hong Kong time, starting in March 2027, subject to regulatory approval and system readiness, according to HKEX. It added it was also considering a further... https://www.scmp.com/business/markets/article/3373015/hkex-extends-overnight-derivatives-trading-hong-kong-chases-global-market-flow https://www.scmp.com/business/markets/article/3373015/hkex-extends-overnight-derivatives-trading-hong-kong-chases-global-market-flow Mon, 02 Nov 2026 12:12:27 +0000 Daniel Ren Daniel Ren China’s two largest carmakers, BYD and Geely Auto, recorded their strongest monthly sales of the year in October, bucking a downward trend in the world’s largest automotive market as smaller rivals come under increasing pressure to turn a profit. Shenzhen-based electric vehicle (EV) giant BYD handed over 490,168 cars to customers at home and abroad last month, up 11 per cent year on year, while Hangzhou-headquartered Geely delivered 310,183 petrol and electric cars worldwide in the same period,... https://www.scmp.com/business/china-business/article/3372948/byd-and-geely-hit-sales-highs-pressure-mounts-chinas-smaller-carmakers https://www.scmp.com/business/china-business/article/3372948/byd-and-geely-hit-sales-highs-pressure-mounts-chinas-smaller-carmakers Mon, 02 Nov 2026 08:00:07 +0000 Zoe SL Chan,Themis Qi Zoe SL Chan,Themis Qi Hong Kong’s initial public offering (IPO) momentum has cooled sharply in the fourth quarter amid market volatility and tighter regulatory scrutiny, but industry players say a year-end rush of listings could still help the city secure a top-three global ranking for 2026. The market has slowed significantly since October, with only three new listings, all of which closed below their offer prices on debut. Two other IPO candidates shelved their listings after completing procedures, testing Hong... https://www.scmp.com/business/markets/article/3372736/has-hong-kongs-ipo-boom-hit-wall-or-year-end-rush-still-come https://www.scmp.com/business/markets/article/3372736/has-hong-kongs-ipo-boom-hit-wall-or-year-end-rush-still-come Mon, 02 Nov 2026 01:00:15 +0000 Daisy Wu Daisy Wu On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes. The proposals have intensified criticism of Mamdani, a... https://www.scmp.com/business/money/wealth/article/3372833/big-apple-vs-pearl-orient-how-higher-taxes-new-york-may-open-door-hong-kong https://www.scmp.com/business/money/wealth/article/3372833/big-apple-vs-pearl-orient-how-higher-taxes-new-york-may-open-door-hong-kong Sun, 01 Nov 2026 12:00:12 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Ltd (CATL) has doubled down on new businesses including battery swapping and energy storage as the world’s largest battery maker seeks new growth drivers amid intensifying price wars and mounting pressure on profitability. But the new path is far from straightforward. Established players like Nio have already built a strong presence in battery swapping, while BYD has reinforced its position in energy-storage systems. Lucas Zhang Liutong, director of Hong... https://www.scmp.com/business/climate-and-energy/article/3372711/can-battery-swapping-and-energy-storage-power-catls-next-phase-growth https://www.scmp.com/business/climate-and-energy/article/3372711/can-battery-swapping-and-energy-storage-power-catls-next-phase-growth Sat, 31 Oct 2026 08:00:09 +0000 Howard Liu Howard Liu Soaring artificial intelligence revenues have failed to shield Intel, Amazon and Google’s parent company Alphabet from a brutal Wall Street sell-off, as their latest quarterly results deepened investor jitters over mounting capital spending and delayed returns. Intel plunged about 23 per cent in extended trading on Thursday, while Amazon shed 7.3 per cent. Alphabet tumbled 12.6 per cent during the regular session in its worst day on record, dragging the Nasdaq Composite down 1.4 per cent and... https://www.scmp.com/tech/big-tech/article/3372737/amid-brutal-sell-what-comes-next-google-amazon-and-other-big-tech-titans https://www.scmp.com/tech/big-tech/article/3372737/amid-brutal-sell-what-comes-next-google-amazon-and-other-big-tech-titans Fri, 30 Oct 2026 09:44:46 +0000 Themis Qi Themis Qi Flying cars developed by Chinese companies are by design more feasible for commercial use than Tesla’s Roadster, according to an executive at Xpeng, after a recent demonstration by the US tech giant sparked discussion about tech leadership in mainland China. Wang Tan, co-founder of Aridge, the affiliate of Chinese electric vehicle (EV) maker Xpeng, said Chinese companies had adopted different technologies than Tesla did. While the Roadster’s mid-air flip and successful landing as seen in a live... https://www.scmp.com/business/china-evs/article/3372694/chinese-flying-cars-more-commercially-viable-teslas-roadster-says-xpeng-executive https://www.scmp.com/business/china-evs/article/3372694/chinese-flying-cars-more-commercially-viable-teslas-roadster-says-xpeng-executive Fri, 30 Oct 2026 09:00:20 +0000 Peggy Ye Peggy Ye Liquidators of China Evergrande Group have agreed to sell a controlling stake in its property management arm to investment firm PAG for HK$4.03 billion (US$513.6 million), as they seek to recover assets for creditors owed US$46 billion. The sale of a 51.016 per cent stake in Evergrande Property Services could give the profitable business a new controlling shareholder after its parent used billions of yuan of its bank deposits as collateral for loans, leaving the company struggling to recover the... https://www.scmp.com/business/banking-finance/article/3372681/evergrande-liquidators-sell-controlling-stake-property-services-unit-us513-million https://www.scmp.com/business/banking-finance/article/3372681/evergrande-liquidators-sell-controlling-stake-property-services-unit-us513-million Fri, 30 Oct 2026 05:24:31 +0000 Themis Qi Themis Qi China’s makers of energy storage systems, including Contemporary Amperex Technology (CATL) and Gotion High-Tech, stand to benefit as conflict in the Middle East keeps fossil fuel prices elevated, raising demand for their products in green energy projects, according to analysts. The tailwinds are expected to outweigh a slowdown in the local market, where weaker-than-expected demand has dragged stock prices in the lithium-ion battery supply chain down by more than 46 per cent over the past six... https://www.scmp.com/business/climate-and-energy/article/3372649/catl-byd-gotion-gain-fossil-fuel-prices-drive-demand-battery-energy-storage https://www.scmp.com/business/climate-and-energy/article/3372649/catl-byd-gotion-gain-fossil-fuel-prices-drive-demand-battery-energy-storage Fri, 30 Oct 2026 03:00:10 +0000 Daniel Ren Daniel Ren China’s two largest carmakers, BYD and Geely Auto, reported a jump in their third-quarter earnings, propelled by surging overseas sales as they intensified pressure on established international marques in Europe and Southeast Asia. BYD, mainland China’s largest automotive group, posted a net profit of 10 billion yuan (US$1.5 billion) in the three months ending September, up 28 per cent from the same period a year earlier. Revenue grew 13.6 per cent to 211.5 billion yuan. Geely said on Thursday... https://www.scmp.com/business/china-evs/article/3372611/chinas-byd-geely-report-profit-jump-sales-abroad-surge-though-local-market-stalls https://www.scmp.com/business/china-evs/article/3372611/chinas-byd-geely-report-profit-jump-sales-abroad-surge-though-local-market-stalls Thu, 29 Oct 2026 12:41:05 +0000 Robin Hu Robin Hu An aircraft supplier can have parts ready and a customer waiting yet be unable to ship while Washington holds up its licence. In Shanghai, Citi has approval to establish a securities business after years of waiting. Companies must invest, sign contracts and move production while the two governments negotiate. A board needs to know what can proceed now, what remains conditional and what could stop the business after the money has been spent. Chinese President Xi Jinping and US President Donald... https://www.scmp.com/opinion/china-opinion/article/3372307/xi-trump-summits-must-leave-businesses-greater-clarity-not-less https://www.scmp.com/opinion/china-opinion/article/3372307/xi-trump-summits-must-leave-businesses-greater-clarity-not-less Thu, 29 Oct 2026 12:30:08 +0000 Xinmei Shen Xinmei Shen Business disputes are expected to make up the bulk of cases at Hong Kong’s new International Organisation for Mediation (IOMed), which plans to accelerate its outreach efforts entering its second year of operation, secretary general Teresa Cheng Yeuk-wah said in an interview. Commercial cases account for up to 95 per cent of all disputes worldwide, while no more than 5 per cent involve states, and IOMed “naturally” expected a similar spread for its own caseload, Cheng said on the sidelines of... https://www.scmp.com/business/china-business/article/3372597/worlds-first-intergovernmental-mediation-organisation-ramp-outreach https://www.scmp.com/business/china-business/article/3372597/worlds-first-intergovernmental-mediation-organisation-ramp-outreach Thu, 29 Oct 2026 10:29:13 +0000 Peggy Ye,Chris Tsang Peggy Ye,Chris Tsang CK Asset Holdings has suspended sales at its Yuen Long residential project Montage, days before it planned to begin marketing the development’s first homes. The developer confirmed the suspension to the South China Morning Post but declined to explain the abrupt decision, saying only that it reserved the right to pause or commence sales at any time. It dismissed market speculation that the government had revoked the project’s presale consent as baseless. The move followed Moni Yeung, deputy... https://www.scmp.com/business/companies/article/3372560/ck-asset-pauses-hong-kong-sales-launch-yuen-longs-montage-development https://www.scmp.com/business/companies/article/3372560/ck-asset-pauses-hong-kong-sales-launch-yuen-longs-montage-development Thu, 29 Oct 2026 08:00:20 +0000 Chris Tsang Chris Tsang Private equity veteran Ramon Lo has bought two ground-floor shops on Swatow Street in Wan Chai for HK$32.5 million (US$4.1 million), at a time when prices in the district remain about one-third below previous levels. Land Registry records showed that the properties were acquired by Smart Golden Co, whose director is Lo, a partner and executive director at private equity and advisory firm Symphony Capital Partners. Lo, a descendant of the Lo Hin-shing family, whose patriarch was among Hong Kong’s... https://www.scmp.com/business/article/3372456/veteran-investor-snaps-2-hong-kong-street-shops-values-remain-well-below-peaks https://www.scmp.com/business/article/3372456/veteran-investor-snaps-2-hong-kong-street-shops-values-remain-well-below-peaks Thu, 29 Oct 2026 01:00:10 +0000 Vincent Chow Vincent Chow Leading Chinese robotics company Unitree Robotics on Wednesday reported a 69.93 per cent year-on-year increase in quarterly revenue to 665 million yuan (US$99.7 million), though net profits excluding non-recurring items fell 17.42 per cent to 105 million yuan, as the company released its first earnings since going public. The results for the three months ending September 30 showed a continued surge in research and development spending by the Hangzhou-based company, which jumped 249.58 per cent... https://www.scmp.com/tech/article/3372474/unitree-reports-70-surge-quarterly-revenue-though-ai-investment-weighs-net-profit https://www.scmp.com/tech/article/3372474/unitree-reports-70-surge-quarterly-revenue-though-ai-investment-weighs-net-profit Wed, 28 Oct 2026 13:38:07 +0000 Xinmei Shen Xinmei Shen An array of Chinese drug makers showcased positive trial results for new cancer treatments at a major European medical conference, underscoring the expanding international influence of China’s biotech sector. Domestic innovative drugs, particularly antibody-drug conjugates (ADCs), delivered impressive data across multiple tumour types at the European Society for Medical Oncology (Esmo) Congress, with some early-stage data further showing the country’s “innovation capabilities”, said analysts... https://www.scmp.com/business/china-business/article/3372422/chinese-drug-sectors-stature-grows-major-cancer-conference https://www.scmp.com/business/china-business/article/3372422/chinese-drug-sectors-stature-grows-major-cancer-conference Wed, 28 Oct 2026 10:00:13 +0000 Daisy Wu Daisy Wu JPMorgan Asset Management (JPMAM) expects to launch more actively managed exchange-traded funds (ETFs) in mainland China after its first such fund there hit the 2 billion yuan (US$300 million) fundraising cap on the first day of sales, its China chief said. “The first launch is just an opening move in a much bigger game,” Desiree Wang, the firm’s CEO for China, said in an interview with the South China Morning Post on Tuesday. Any active strategy that suits the ETF vehicle and meets investor... https://www.scmp.com/business/companies/article/3372384/jpmam-plans-more-active-etfs-china-after-debut-fund-hits-us300-million-cap-day-one https://www.scmp.com/business/companies/article/3372384/jpmam-plans-more-active-etfs-china-after-debut-fund-hits-us300-million-cap-day-one Wed, 28 Oct 2026 07:00:06 +0000 Yulu Ao Yulu Ao Standard Chartered’s third-quarter net profit rose 46 per cent as strong growth in wealth management and lower credit impairment buffered one of Hong Kong’s three note-issuing banks from provisions linked to geopolitical tensions. The bank’s shares surged as much as 8.7 per cent after the earnings report was released, before paring gains to close 7.6 per cent higher at HK$219.80 on Wednesday. Net profit increased to US$1.5 billion, or 68.9 US cents per share, in the quarter that ended on... https://www.scmp.com/business/banking-finance/article/3372386/standard-chartered-beats-forecast-wealth-business-powers-third-quarter-profit https://www.scmp.com/business/banking-finance/article/3372386/standard-chartered-beats-forecast-wealth-business-powers-third-quarter-profit Wed, 28 Oct 2026 04:28:23 +0000 Zoe SL Chan Zoe SL Chan Suzhou Dongshan Precision Manufacturing proved volatile in its Hong Kong trading debut after an underwhelming HK$9.9 billion (US$1.26 billion) initial public offering (IPO), as investor sentiment was haunted by the deepening sell-off across China’s artificial intelligence and tech hardware sectors. Shares of the circuit-board manufacturer, a key supplier of components for AI servers, dropped as much as 6 per cent after its debut in the Hong Kong market on Wednesday. The stock later pared losses... https://www.scmp.com/business/companies/article/3372364/chinese-circuit-board-firm-dongshan-precision-plunges-hong-kong-debut https://www.scmp.com/business/companies/article/3372364/chinese-circuit-board-firm-dongshan-precision-plunges-hong-kong-debut Wed, 28 Oct 2026 02:07:13 +0000 Daniel Ren Daniel Ren Global carmakers are searching for a way to survive in China’s cutthroat market, as they continue to lose ground to domestic competitors in a landscape that is increasingly tilting towards electric vehicles (EVs). International auto brands from Volkswagen to Toyota saw their market share in the Chinese mainland slide once again in the third quarter of the year, as consumers turned away from expensive foreign cars amid an economic slowdown and the Iran war. Foreign marques accounted for less than... https://www.scmp.com/business/china-business/article/3372359/global-carmakers-search-new-china-strategy-market-share-slips-below-30 https://www.scmp.com/business/china-business/article/3372359/global-carmakers-search-new-china-strategy-market-share-slips-below-30 Tue, 27 Oct 2026 23:59:35 +0000 Xinmei Shen Xinmei Shen Jiangsu Hengrui Pharmaceuticals surged more than 12 per cent in Hong Kong following strong third-quarter results, as positive momentum continues to buoy Chinese biotech stocks. Hengrui, one of China’s largest drug makers, reported a 20.55 per cent rise in third-quarter revenue to 8.95 billion yuan (US$1.34 billion), beating analyst estimates of 8.55 billion yuan amid stronger innovative drug sales. Net profit reached 2.46 billion yuan for the three months ended September 30, jumping 88.92 per... https://www.scmp.com/business/companies/article/3372319/chinas-hengrui-posts-89-rise-third-quarter-net-profit-beating-estimates https://www.scmp.com/business/companies/article/3372319/chinas-hengrui-posts-89-rise-third-quarter-net-profit-beating-estimates Tue, 27 Oct 2026 11:30:27 +0000 Yulu Ao Yulu Ao Pop Mart, the Chinese toymaker famous for Labubu collectible dolls, reported a 45 to 50 per cent year-on-year decline in third-quarter revenue, as sales weakened across its major markets, with overseas operations and online channels bearing the brunt of the slowdown. Revenue in mainland China fell 25 to 30 per cent in the third quarter from a year earlier, while revenue in Asia-Pacific markets outside mainland China and Oceania dropped 65 to 70 per cent, according to a business update filed to... https://www.scmp.com/business/china-business/article/3372313/pop-mart-reports-45-50-revenue-decline-labubu-sales-weaken-across-major-markets https://www.scmp.com/business/china-business/article/3372313/pop-mart-reports-45-50-revenue-decline-labubu-sales-weaken-across-major-markets Tue, 27 Oct 2026 11:00:24 +0000 Mandy Zuo Mandy Zuo ByteDance founder Zhang Yiming has reclaimed the title of China’s richest person with a nearly US$100 billion fortune, as artificial intelligence powers a surge in wealth among China’s top entrepreneurs, according to the Hurun Research Institute. The 43-year-old Zhang, who topped the ranking in 2024, saw his wealth rise 43 per cent to US$99.7 billion – a record for China’s richest individual – as TikTok owner ByteDance aggressively expanded into AI, according to the 28th edition of the Hurun... https://www.scmp.com/economy/article/3372302/bytedances-zhang-yiming-tops-china-rich-list-us997-billion-ai-fuels-fortunes https://www.scmp.com/economy/article/3372302/bytedances-zhang-yiming-tops-china-rich-list-us997-billion-ai-fuels-fortunes Tue, 27 Oct 2026 11:00:11 +0000 Daisy Wu Daisy Wu Chinese and Hong Kong stocks have lagged an artificial intelligence-driven rally across Asia, but J.P. Morgan Asset Management remained “structurally very positive” on both markets, according to a senior executive at the firm. Chinese markets offered “a lot of depth and breadth” and ample liquidity despite widespread headwinds, Ayaz Ebrahim, the firm’s CEO for Singapore, Southeast Asia and India, told the South China Morning Post in an interview on Monday. “Markets that work have a strong... https://www.scmp.com/business/companies/article/3372245/depth-and-breadth-strong-liquidity-anchor-china-stock-outlook-jpmam https://www.scmp.com/business/companies/article/3372245/depth-and-breadth-strong-liquidity-anchor-china-stock-outlook-jpmam Tue, 27 Oct 2026 07:00:07 +0000 Minxiao Chang Minxiao Chang Chinese artificial intelligence start-up Moonshot AI, developer of the popular Kimi series, apologised on Monday for limiting customers’ use of its latest model in a botched roll-out that has also invited scrutiny over its promotional practices and cybersecurity measures. “We’re sorry for the rate limits and unnecessary quota consumption on the K3.1 Pro subscription plan,” Moonshot said in a post on social media. In a separate Chinese-language notice, it said it took responsibility for the... https://www.scmp.com/tech/big-tech/article/3372247/moonshot-apologises-after-kimi-k31-pro-roll-out-stumbles-promotional-scrutiny-widens https://www.scmp.com/tech/big-tech/article/3372247/moonshot-apologises-after-kimi-k31-pro-roll-out-stumbles-promotional-scrutiny-widens Tue, 27 Oct 2026 06:00:10 +0000 Enoch Yiu Enoch Yiu Shares of HSBC dropped more than 5 per cent on Tuesday even as Hong Kong’s biggest lender reported a 32 per cent rise in third quarter pre-tax profits and announced a new round of share buy-backs worth US$1 billion. The bank said its third quarter pre-tax profit increased to US$9.6 billion, in-line with US$9.7 billion estimated by analysts, compared with US$7.3 billion a year earlier. The buy-back amount for the third quarter was in line with analysts’ estimates. The bank will also pay a... https://www.scmp.com/business/companies/article/3372244/hsbc-reports-32-increase-third-quarter-pre-tax-profits-announces-us1b-share-buy-back https://www.scmp.com/business/companies/article/3372244/hsbc-reports-32-increase-third-quarter-pre-tax-profits-announces-us1b-share-buy-back Tue, 27 Oct 2026 04:27:29 +0000 Themis Qi Themis Qi China has granted new autonomous-driving permission to electric vehicle (EV) maker Xpeng and a mainland joint venture of Volkswagen, intensifying the commercialisation race between China’s autonomous driving firms and US company Tesla. Xpeng would now be allowed to conduct “demonstration operations” of its Yoyo driverless taxis in the capital city of southern China’s Guangdong province under a licence officially granted recently, the company said on social media on Monday. The licence, which... https://www.scmp.com/business/china-evs/article/3372153/china-grants-permits-vw-joint-venture-xpeng-autonomous-driving-race-intensifies https://www.scmp.com/business/china-evs/article/3372153/china-grants-permits-vw-joint-venture-xpeng-autonomous-driving-race-intensifies Tue, 27 Oct 2026 00:00:14 +0000 Peggy Ye Peggy Ye The HK$2.7 billion (US$344 million) sale of two Shimao Group hotels in Hong Kong leaves an estimated HK$1.8 billion shortfall against their secured loans. Still, receivers managed to squeeze out improved bids in the final stages, with all shortlisted parties improving their offers, said Una Ge, a managing director at AlixPartners who oversaw the sale as a joint receiver. The deal offers a glimpse into how mainland China’s developer debt crisis is reshaping Hong Kong’s restructuring industry,... https://www.scmp.com/business/article/3372067/how-shimaos-sale-2-hotels-reveals-growing-complexity-hong-kong-debt-workouts https://www.scmp.com/business/article/3372067/how-shimaos-sale-2-hotels-reveals-growing-complexity-hong-kong-debt-workouts Mon, 26 Oct 2026 23:00:05 +0000 Xinmei Shen Xinmei Shen Chinese biotech firms face fresh headwinds in their global expansion as Washington’s proposed outbound investment restrictions threaten to disrupt deal structures, even though drug licensing agreements remain untouched for now, analysts say. The US Treasury Department’s draft rules released last week would “make it much harder for Chinese biotech firms to attract direct US investment or enter joint ventures”, according to David Zhang, an analyst at policy research firm Trivium China. US Treasury... https://www.scmp.com/business/article/3372151/could-new-us-investment-curbs-complicate-chinas-biotech-licensing-surge https://www.scmp.com/business/article/3372151/could-new-us-investment-curbs-complicate-chinas-biotech-licensing-surge Mon, 26 Oct 2026 08:00:23 +0000 Tim Yuen Lingk Tim Yuen Lingk After HSBC RedCoin launched on Friday, Anchorpoint – the stablecoin-issuing joint venture led by Standard Chartered – said it plans to launch a retail product on a public blockchain, even as it takes a “prudent approach”. “Our next major milestone is to [help] bring regulated digital money into everyday payments and commercial applications, while connecting traditional payment infrastructure with this emerging digital finance,” said Dominic Maffei, CEO of Anchorpoint. “This is a public... https://www.scmp.com/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches https://www.scmp.com/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches Sun, 25 Oct 2026 23:00:15 +0000 Themis Qi Themis Qi China’s BYD will build new factories in Europe for a bigger market share, as the world’s largest electric vehicle (EV) maker faces fiscal support pullback at home and rising trade barriers overseas, according to an executive. “Europe is a very important regional market for BYD. We will not let tariff increases affect local consumers’ choice of BYD,” said Liu Xueliang, vice-president at the Shenzhen-based carmaker, in a recent interview. Liu also reaffirmed that BYD was actively expanding its... https://www.scmp.com/business/china-evs/article/3372001/byd-build-new-factories-europe-combat-strict-trade-barriers-targeting-chinese-evs https://www.scmp.com/business/china-evs/article/3372001/byd-build-new-factories-europe-combat-strict-trade-barriers-targeting-chinese-evs Sun, 25 Oct 2026 08:00:09 +0000