https://www.scmp.com/rss/323092/feed Late July is reporting season for Hong Kong's publicly traded companies. This is the time when investors, analysts and traders scrutinise balance sheets and profts of companies to make decisions on whether to invest or sell up. The information delivered in these reports can often herald a significant shift in shares for listed companies en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Standard Chartered’s first-quarter profit rose 19 per cent as it achieved strong wealth-management performance, which was offset by lower interest rates and rising bad debt provisions due to the Middle East conflicts. Net profit increased 19 per cent year on year in the first three months of 2026 to US$1.9 billion, or 74.2 US cents per share, from US$1.59 billion a year earlier, the bank said on Thursday. The result was better than analysts’ estimates of US$1.33 billion. The bank’s pre-tax... https://www.scmp.com/business/banking-finance/article/3351966/stanchart-profit-rises-19-wealth-management-offsets-lower-rates-and-rising-bad-loans?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351966/stanchart-profit-rises-19-wealth-management-offsets-lower-rates-and-rising-bad-loans?utm_source=rss_feed Thu, 30 Apr 2026 06:35:33 +0000 Themis Qi Themis Qi China’s electric vehicle (EV) king BYD reported a slump in first-quarter net profit as weakness in its domestic market outweighed rising exports. The mainland’s largest and most profitable EV maker reported a net profit of nearly 4.09 billion yuan (US$590 million) for the first three months of the year, a drop of 55 per cent compared with a year earlier. Revenue came in at 150.2 billion yuan, down 11.8 per cent from a year earlier. The market’s consensus estimate was 4.09 billion yuan for net... https://www.scmp.com/business/china-evs/article/3351734/byd-chinas-ev-king-posts-55-slump-first-quarter-profit?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3351734/byd-chinas-ev-king-posts-55-slump-first-quarter-profit?utm_source=rss_feed Tue, 28 Apr 2026 11:44:14 +0000 Yulu Ao Yulu Ao Shares of WuXi AppTec surged both on the mainland and in Hong Kong after stronger-than-expected quarterly results lifted sentiment across the contract research and innovative drug sectors. The pharmaceutical company’s Shanghai-listed shares rose by their daily limit of 10 per cent to close at 110.57 yuan on Tuesday, while its Hong Kong shares ended 14 per cent higher at HK$143.10, the highest since December 2021. The gains followed the company’s market-beating first-quarter earnings released... https://www.scmp.com/business/china-business/article/3351706/wuxi-apptec-shares-surge-14-hong-kong-after-record-first-quarter-earnings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351706/wuxi-apptec-shares-surge-14-hong-kong-after-record-first-quarter-earnings?utm_source=rss_feed Tue, 28 Apr 2026 09:27:48 +0000 Themis Qi Themis Qi Rising memory-chip costs could reshape the smartphone industry, said Xiaomi president William Lu Weibing, after weak smartphone sales cut into the firm’s fourth-quarter profit. Memory prices were surging at a magnitude “beyond imagination”, drawing smartphone makers into a long-term price-raising cycle, Lu said on an earnings call on Tuesday. “When the price-raising cycle ends, some players may suffer significant losses or even face closure,” he said, without elaborating. However, the challenge... https://www.scmp.com/business/china-evs/article/3347728/xiaomi-profit-drops-27-weaker-smartphone-sales-chinese-firms-ev-growth-slows?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3347728/xiaomi-profit-drops-27-weaker-smartphone-sales-chinese-firms-ev-growth-slows?utm_source=rss_feed Tue, 24 Mar 2026 10:27:27 +0000 Wency Chen Wency Chen Alibaba Group Holding on Thursday said it aimed to generate US$100 billion in annual external revenue from its combined cloud and AI businesses within five years after disclosing for the first time the production progress of its T-Head chip unit, even as it missed its quarterly earnings estimates. “Over the past three months, token consumption on the Model Studio platform has grown by six times,” said CEO Eddie Wu Yongming on the earnings call, adding that model-as-a-service offerings would... https://www.scmp.com/tech/article/3347177/alibaba-discloses-gpu-production-first-time-quarterly-profit-misses-estimates?utm_source=rss_feed https://www.scmp.com/tech/article/3347177/alibaba-discloses-gpu-production-first-time-quarterly-profit-misses-estimates?utm_source=rss_feed Thu, 19 Mar 2026 10:39:03 +0000 Iris Deng,Wency Chen Iris Deng,Wency Chen Tencent Holdings and Alibaba Group Holding are set to report quarterly earnings this week, against a backdrop of an artificial intelligence boom that is reshaping the global economy and fuelling a frenzy in China around open-source AI agents such as OpenClaw. The South China Morning Post examines market expectations for their results and the key themes investors will be watching. What are the expectations for top line and bottom line performances? Shenzhen-based Tencent, operator of China’s... https://www.scmp.com/tech/article/3346920/tencent-and-alibaba-quarterly-earnings-preview-key-things-watch?utm_source=rss_feed https://www.scmp.com/tech/article/3346920/tencent-and-alibaba-quarterly-earnings-preview-key-things-watch?utm_source=rss_feed Wed, 18 Mar 2026 01:00:15 +0000 Vincent Chow Vincent Chow Chinese artificial intelligence company MiniMax Group posted better-than-expected annual revenue growth in its first earnings report since its blockbuster Hong Kong listing, as its CEO predicted a doubling in revenue this year. Revenue rose nearly 159 per cent year on year to US$79 million for the year ended December 2025, the Shanghai-based company said on Monday, beating an estimate of US$71.39 million by analysts polled by Bloomberg. Meanwhile, CEO Yan Junjie said in a post-earnings call that... https://www.scmp.com/tech/article/3345116/chinese-ai-firm-minimaxs-revenue-jumps-159-us79-million-strong-demand?utm_source=rss_feed https://www.scmp.com/tech/article/3345116/chinese-ai-firm-minimaxs-revenue-jumps-159-us79-million-strong-demand?utm_source=rss_feed Mon, 02 Mar 2026 10:39:54 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, reported a 36.2 per cent year-on-year jump in first-half net profit to HK$10.25 billion (US$1.3 billion). Revenue rose 32 per cent to HK$52.7 billion for the six months ended December from a year earlier, while operating income increased 10.7 per cent to HK$13.4 billion, the developer said in a filing to the Hong Kong stock exchange on Thursday. Underlying profit, which discounts property revaluations, gained... https://www.scmp.com/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed https://www.scmp.com/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed Thu, 26 Feb 2026 10:23:04 +0000 Enoch Yiu Enoch Yiu HSBC Holdings unveiled a range of new growth targets and strategies on Wednesday, including plans to boost investment in Hong Kong and other high-growth markets to US$1.8 billion in the coming years. CEO Georges Elhedery said the bank would raise its return target to 17 per cent or higher from 2026 to 2028, while maintaining a sustainable dividend policy. The forward-looking commitments helped lift HSBC’s share price despite a 7 per cent decline in annual profit. Among the expansion plans, the... https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344541/hsbcs-2025-profit-falls-7-beats-estimates-despite-property-woes-madoff-lawsuits?utm_source=rss_feed Wed, 25 Feb 2026 04:32:46 +0000 Enoch Yiu Enoch Yiu Standard Chartered Bank, one of Hong Kong’s three note-issuing banks, reported a 16 per cent profit jump for 2025, as strong wealth management growth helped it weather rising bad debt from the city’s commercial real estate slump. The London-based bank, which generates much of its revenue from Asia, reported an underlying pre-tax profit of US$7.9 billion last year, compared with US$6.8 billion in 2024, according to a stock exchange filing on Tuesday. This matched analysts’ estimate of US$7.9... https://www.scmp.com/business/banking-finance/article/3344411/standard-chartereds-2025-profit-jumps-16-buoyed-robust-wealth-management-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344411/standard-chartereds-2025-profit-jumps-16-buoyed-robust-wealth-management-growth?utm_source=rss_feed Tue, 24 Feb 2026 04:47:55 +0000 Vincent Chow Vincent Chow China’s food delivery giant Meituan on Friday warned that it expected to post a loss of up to 24.3 billion yuan (US$3.5 billion) for 2025 due to “intense industry competition”, with the slump likely to persist this year. The sharp reversal from 2024, when the company posted a profit of 35.8 billion yuan, comes on the back of one of China’s most intense price wars last year between Meituan, Alibaba Group Holding and JD.com in local e-commerce and food delivery, which only subsided after... https://www.scmp.com/tech/article/3343538/chinas-meituan-warns-us35-billion-loss-amid-intense-food-delivery-price-war?utm_source=rss_feed https://www.scmp.com/tech/article/3343538/chinas-meituan-warns-us35-billion-loss-amid-intense-food-delivery-price-war?utm_source=rss_feed Fri, 13 Feb 2026 14:15:42 +0000 Cao Li Cao Li China’s commercial real estate stress will force some Hong Kong banks with significant exposure to the sector to set aside additional reserves for potentially higher non-performing loans, which could weigh on their second-half 2025 earnings, according to Citi. In a report on Tuesday, Citi Research said Bank of China (Hong Kong) (BOCHK), the Hong Kong subsidiary of state-owned Bank of China, and Bank of East Asia (BEA) had the highest exposure to China’s commercial real estate, which is under... https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed Tue, 10 Feb 2026 11:28:24 +0000 Ann Cao,Bien Perez Ann Cao,Bien Perez E-commerce giant Alibaba Group Holding expects to stay ahead of its Chinese Big Tech peers in artificial intelligence-related capital expenditure, as the firm’s AI and cloud computing unit posted its fourth consecutive quarter of double-digit revenue growth. Alibaba Cloud on Tuesday reported a 34 per cent year-on-year revenue growth to 39.8 billion yuan (US$5.6 billion) in the three months ended September 30, as the Hangzhou-based parent’s overall revenue in its financial second quarter reached... https://www.scmp.com/tech/big-tech/article/3334253/alibaba-lead-ai-capital-spending-among-chinas-big-tech-firms-amid-strong-market-demand?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3334253/alibaba-lead-ai-capital-spending-among-chinas-big-tech-firms-amid-strong-market-demand?utm_source=rss_feed Wed, 26 Nov 2025 11:30:09 +0000 Ken Ip Ken Ip There was a time when Hong Kong’s retail landlords looked untouchable. If you wanted a dependable income, you would buy shares in the city’s leading real estate investment trusts (Reits), the steady dividend machines of a service economy built on foot traffic, routine and the long-held assumption that Hongkongers would always shop. These companies were the unshakeable pillars of everyday commerce. They prospered not because the economy was roaring, but because consumers kept showing up. That era... https://www.scmp.com/opinion/hong-kong-opinion/article/3333967/why-not-just-another-retail-downturn-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3333967/why-not-just-another-retail-downturn-hong-kong?utm_source=rss_feed Wed, 26 Nov 2025 08:30:08 +0000 Themis Qi Themis Qi Hong Kong beverage giant Vitasoy International reported a 6 per cent drop in revenue for the six months ended September, citing weaker demand and intensifying competition in mainland China. The maker of tea drinks and soy milk posted interim revenue of HK$3.23 billion (US$415 million) and a net profit of HK$172 million, a 1 per cent year-on-year increase. The figures contrasted with the company’s performance for the full financial year ended March, when revenue rose 1 per cent and net profit... https://www.scmp.com/business/companies/article/3334117/hong-kong-beverage-giant-vitasoys-revenue-dips-6-mainland-china-demand-slows?utm_source=rss_feed https://www.scmp.com/business/companies/article/3334117/hong-kong-beverage-giant-vitasoys-revenue-dips-6-mainland-china-demand-slows?utm_source=rss_feed Tue, 25 Nov 2025 11:15:21 +0000 Ann Cao,Wency Chen Ann Cao,Wency Chen Alibaba Group Holding, China’s e-commerce and cloud computing giant, on Tuesday reported a better-than-expected 5 per cent increase in revenue for the September quarter, as its cloud and artificial intelligence businesses continued to gain momentum. Total revenue for the Hangzhou-based company reached 247.8 billion yuan (US$34.8 billion) for its financial second quarter ended September 30, beating the consensus estimate of 245.2 billion yuan by Bloomberg-polled analysts. That was more than the 2... https://www.scmp.com/tech/big-tech/article/3334116/alibaba-posts-5-rise-quarterly-revenue-ai-cloud-computing-momentum?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3334116/alibaba-posts-5-rise-quarterly-revenue-ai-cloud-computing-momentum?utm_source=rss_feed Tue, 25 Nov 2025 10:59:49 +0000 Ben Jiang Ben Jiang Chinese internet search giant Baidu on Tuesday reported a 50 per cent increase in artificial intelligence-related revenue in the three months ended September from a year ago, which was the bright spot to an otherwise lacklustre financial quarter. The Beijing-based company’s third-quarter revenue declined 7 per cent year on year to 31.2 billion yuan (US$4.4 billion), owing to sluggish demand in its advertising business, while its net loss hit 11.2 billion yuan on asset writedowns. While its core... https://www.scmp.com/tech/big-tech/article/3333305/chinas-baidu-posts-50-rise-ai-revenue-despite-third-quarter-slump?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3333305/chinas-baidu-posts-50-rise-ai-revenue-despite-third-quarter-slump?utm_source=rss_feed Tue, 18 Nov 2025 13:43:55 +0000 Themis Qi Themis Qi Geely Auto, mainland China’s second-largest carmaker, reported a 27 per cent jump in third-quarter revenue on the back of a near 100 per cent jump in electric vehicle (EV) sales this year. The Zhejiang-based carmaker reported revenues of 89 billion yuan (US$12.5 billion) in the July-September period, compared with 70 billion yuan a year earlier. Net profit jumped 59 per cent to 3.8 billion yuan. For the first nine months of the year, Geely’s revenue rose 26 per cent to 239 billion yuan, but net... https://www.scmp.com/business/china-evs/article/3333083/geelys-third-quarter-revenue-and-profit-soar-surging-ev-sales-mainland-china?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3333083/geelys-third-quarter-revenue-and-profit-soar-surging-ev-sales-mainland-china?utm_source=rss_feed Mon, 17 Nov 2025 08:29:48 +0000 Iris Deng Iris Deng Chinese tech firm Tencent Holdings, the country’s most valuable technology giant, beat analysts’ forecasts with a 15 per cent rise in third-quarter revenue, as its artificial intelligence efforts continued to drive growth. Revenue for the Shenzhen-based firm, which runs China’s most popular super app WeChat, reached 192.9 billion yuan (US$27.1 billion), up from 167.2 billion yuan in the same period last year. Net profit increased 19 per cent to 63.1 billion yuan in the September quarter, which... https://www.scmp.com/tech/article/3332631/tencent-posts-19-jump-third-quarter-profit-ai-related-gains-beating-estimates?utm_source=rss_feed https://www.scmp.com/tech/article/3332631/tencent-posts-19-jump-third-quarter-profit-ai-related-gains-beating-estimates?utm_source=rss_feed Thu, 13 Nov 2025 08:56:05 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX), the operator of Asia’s third-largest stock market, on Wednesday reported its best quarterly and nine-month earnings on record on the back of rising turnover and initial public offerings (IPOs). Net profit for the three months to September rose 56 per cent from a year earlier to HK$4.9 billion (US$628 million), or HK$3.88 per share, beating analysts’ estimate of HK$4.7 billion, according to an exchange filing. It was HKEX’s best quarterly profit, exceeding... https://www.scmp.com/business/companies/article/3331574/hkex-rides-rising-turnover-and-ipos-post-record-quarterly-profit-us628-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3331574/hkex-rides-rising-turnover-and-ipos-post-record-quarterly-profit-us628-million?utm_source=rss_feed Wed, 05 Nov 2025 04:31:47 +0000 Bloomberg Bloomberg Developer China Vanke reported a deeper third-quarter loss, highlighting mounting challenges as the prolonged property market downturn continues to weigh on its sales. The Shenzhen-based company posted a loss of 16.1 billion yuan (US$2.3 billion) in the three months ended September 30, roughly doubling its loss from a year earlier. That brings its combined losses for the first nine months of the year to 28 billion yuan, according to a statement to the Shenzhen exchange on Thursday. Persistent... https://www.scmp.com/business/banking-finance/article/3330983/developer-china-vanke-reports-us23-billion-loss-amid-sales-slowdown?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330983/developer-china-vanke-reports-us23-billion-loss-amid-sales-slowdown?utm_source=rss_feed Fri, 31 Oct 2025 01:47:44 +0000 Daniel Ren Daniel Ren China’s electric-vehicle (EV) leader BYD reported a 32.6 per cent fall in third-quarter profit, as slowing sales and price cuts in the domestic market offset its strong performance abroad. The Shenzhen-based company said its profit tumbled to 7.8 billion yuan (US$1.1 billion) in the three months ended September, compared to 11.6 billion yuan a year earlier, according to a statement filed with the Hong Kong and Shenzhen stock exchanges on Thursday. Still, that represented a 22.6 per cent increase... https://www.scmp.com/business/china-business/article/3330951/byd-quarterly-profit-tumbles-weak-china-sales-offset-overseas-gains?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3330951/byd-quarterly-profit-tumbles-weak-china-sales-offset-overseas-gains?utm_source=rss_feed Thu, 30 Oct 2025 13:16:47 +0000 Enoch Yiu Enoch Yiu Standard Chartered’s third-quarter net profit rose 10 per cent, as strong growth in cross-border trade loans and wealth management buffered one of Hong Kong’s three note-issuing banks from the city’s commercial property slump and helped it beat analysts’ estimates. Net profit increased to US$1.03 billion, or 44.5 US cents per share, in the quarter that ended in September, the London-based bank said in a filing to the Hong Kong stock exchange on Thursday. The result, based on global accounting... https://www.scmp.com/business/banking-finance/article/3330866/standard-chartereds-q3-profit-rises-beats-estimates-trade-loans-wealth-management?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330866/standard-chartereds-q3-profit-rises-beats-estimates-trade-loans-wealth-management?utm_source=rss_feed Thu, 30 Oct 2025 06:21:40 +0000 Enoch Yiu Enoch Yiu HSBC Holdings’ third-quarter profit missed analysts’ forecasts, as falling interest rates amid a property slump combined with a one-off provision to weigh on the balance sheet of the largest banking group in Europe and Hong Kong ranked by assets. Net profit fell 25 per cent to US$4.58 billion, or 28 US cents per share, in the quarter that ended in September, HSBC said on Tuesday. The result missed the US$5.38 billion consensus in a survey of 18 analysts conducted in mid-October, before the... https://www.scmp.com/business/banking-finance/article/3330568/hsbc-profit-slides-amid-falling-interest-rates-weak-commercial-property-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330568/hsbc-profit-slides-amid-falling-interest-rates-weak-commercial-property-market?utm_source=rss_feed Tue, 28 Oct 2025 04:30:58 +0000 Daniel Ren Daniel Ren Chinese makers of smart electric vehicles (EV) will have to redouble their efforts over the next few quarters to stay on track to break even as the brutal discount war in the world’s largest vehicle market shows few signs of abating. From Nio to Xpeng and Zeekr, China’s EV start-ups have been reporting smaller losses in the second quarter, as discounts helped to encourage more buyers to ditch their oil-guzzling vehicles for battery-driven cars. Nio’s second-quarter loss narrowed by 26 per cent... https://www.scmp.com/business/markets/article/3324232/chinas-ev-marques-must-redouble-deliveries-coming-months-meet-2025-break-even-goal?utm_source=rss_feed https://www.scmp.com/business/markets/article/3324232/chinas-ev-marques-must-redouble-deliveries-coming-months-meet-2025-break-even-goal?utm_source=rss_feed Thu, 04 Sep 2025 00:30:07 +0000 Cao Li Cao Li China’s largest cemetery operator and funeral services provider, Fu Shou Yuan, reported its first loss in more than a decade, becoming the latest casualty of sluggish consumer spending in the country. For the first six months of this year, the 31-year-old Shanghai-based company posted a net loss of 261 million yuan (US$36.6 million), its first loss since 2010, according to interim results released on Friday. Total revenue plunged 44.5 per cent to 610.9 million yuan. Revenue from burial services,... https://www.scmp.com/business/china-business/article/3324034/chinas-moutai-funeral-services-posts-first-loss-decade-consumers-stay-cautious?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324034/chinas-moutai-funeral-services-posts-first-loss-decade-consumers-stay-cautious?utm_source=rss_feed Tue, 02 Sep 2025 07:39:13 +0000 Wency Chen Wency Chen E-commerce giant Alibaba Group Holding has won “consumer mindshare” amid its instant commerce push, according to company executives and analysts, to regain growth momentum in the highly competitive domestic market. The Chinese tech conglomerate’s New York-listed shares jumped 13 per cent to close at US$135 on Friday, after reporting robust earnings growth in the June quarter on the back of confidence on the mainland’s instant commerce sector. On Friday’s earnings call, Alibaba CEO Eddie Wu... https://www.scmp.com/tech/big-tech/article/3323775/alibaba-sees-strong-consumer-mindshare-reviving-e-commerce-momentum?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3323775/alibaba-sees-strong-consumer-mindshare-reviving-e-commerce-momentum?utm_source=rss_feed Sat, 30 Aug 2025 13:00:09 +0000 Cao Li Cao Li China’s top banks face continued pressure, as a slowing economy, lower interest rates and weak loan demand weighed on first-half earnings. Net profit at Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, fell 1.4 per cent in the first half from a year earlier to 168.1 billion yuan (US$23.5 billion), according to its interim results announced on Friday after the market closed. Its net interest margin (NIM), a key indicator of a bank’s profitability, fell to 1.3... https://www.scmp.com/business/china-business/article/3323686/profitability-pressure-grows-chinas-state-banks-amid-low-rates-poor-loan-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3323686/profitability-pressure-grows-chinas-state-banks-amid-low-rates-poor-loan-demand?utm_source=rss_feed Fri, 29 Aug 2025 11:23:28 +0000 Coco Feng Coco Feng Huawei Technologies saw a nearly one-third decline in profit in the first half of the year, despite reclaiming the throne in China’s smartphone market, according to a filing from its shareholding entity Huawei Investment & Holding. Net profit during the period fell 32 per cent year on year to 37.2 billion yuan (US$5.2 billion), while revenue grew 4 per cent to 427 billion yuan, according to a filing to the Shanghai Clearing House on Friday. Privately owned Huawei regularly discloses its... https://www.scmp.com/tech/big-tech/article/3323652/huaweis-first-half-profit-drops-32-tech-giant-ploughs-more-money-rd?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3323652/huaweis-first-half-profit-drops-32-tech-giant-ploughs-more-money-rd?utm_source=rss_feed Fri, 29 Aug 2025 11:00:08 +0000 Ann Cao,Wency Chen Ann Cao,Wency Chen Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to a 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the... https://www.scmp.com/tech/big-tech/article/3323679/alibabas-quarterly-profit-surges-78-equity-investments-disposals?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3323679/alibabas-quarterly-profit-surges-78-equity-investments-disposals?utm_source=rss_feed Fri, 29 Aug 2025 10:55:11 +0000 Enoch Yiu Enoch Yiu FWD Group, a regional insurer founded by Hong Kong billionaire Richard Li Tzar-kai, said its first-half net profit jumped 15 times on strong sales growth and one-off cost reductions. In the first results since FWD’s HK$3.61 billion (US$466 million) initial public offering (IPO) in July, net profit soared to US$47 million from US$3 million a year earlier, the company said on Friday. The insurer said it would not pay an interim dividend. Driving the profit increase, annualised premiums from new... https://www.scmp.com/business/companies/article/3323649/fwd-profit-jumps-15-times-life-policies-spike-costs-drop-following-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/companies/article/3323649/fwd-profit-jumps-15-times-life-policies-spike-costs-drop-following-hong-kong-ipo?utm_source=rss_feed Fri, 29 Aug 2025 09:08:19 +0000 Daniel Ren Daniel Ren Hong Kong developer Sino Land on Wednesday said its net profit for the financial year that ended on June 30 fell from a year earlier as strong residential sales were offset by lower rental income and falling occupancies. After taking into account a one-time loss of HK$1.08 billion (US$138.7 million) from the revaluation of its investment properties, the developer said its net profit fell to HK$4.02 billion from HK$4.4 billion a year earlier. Net income excluding one-off gains or losses fell... https://www.scmp.com/business/china-business/article/3323399/sino-land-profit-falls-due-lower-rental-income-falling-occupancies?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3323399/sino-land-profit-falls-due-lower-rental-income-falling-occupancies?utm_source=rss_feed Wed, 27 Aug 2025 14:24:33 +0000 Yuke Xie Yuke Xie China’s embattled property market is showing signs of a tentative recovery, as some developers posted stronger earnings and reduced losses, supported by government stimulus measures and recovering consumption. China Resources Land’s first-half net profit increased by 16.2 per cent from last year to 11.9 billion yuan (US$1.66 billion), according to the state-owned developer’s statement on Wednesday. Sales rose 20 per cent to 94.9 billion yuan. Sunac, one of China’s largest privately owned... https://www.scmp.com/business/article/3323304/cr-land-sunac-post-better-interim-results-chinas-property-shows-signs-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3323304/cr-land-sunac-post-better-interim-results-chinas-property-shows-signs-recovery?utm_source=rss_feed Wed, 27 Aug 2025 07:00:08 +0000 Bloomberg Bloomberg China’s Zijin Mining Group, the world’s third-biggest metals miner by market value, said geopolitical confrontation and resource nationalism will pose challenges to its overseas projects. “Global uncertainties have become unprecedented,” the copper-gold giant said after reporting record quarterly earnings. “The competition for critical minerals among major powers has entered a high-intensity confrontation phase” that could affect the company’s revenue, profit and new overseas projects, it... https://www.scmp.com/business/commodities/article/3323307/chinas-zijin-mining-flags-unprecedented-geopolitical-risks-after-posting-record-profit?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3323307/chinas-zijin-mining-flags-unprecedented-geopolitical-risks-after-posting-record-profit?utm_source=rss_feed Wed, 27 Aug 2025 06:49:54 +0000 Cao Li Cao Li British insurer Prudential reported strong first-half results on robust growth in key markets from Hong Kong to Indonesia. New business profit, a key metric for sales and future growth, grew 12 per cent to US$1.26 billion in the first six months, the company said in a statement on Wednesday. “Growth was broad-based with 13 out of our 19 life insurance markets growing new business profit in the period,” the statement said. Indonesia posted new business profit growth of 34 per cent, while Hong... https://www.scmp.com/business/banking-finance/article/3323279/prudentials-new-business-profit-jumps-12-increase-hong-kong-sales?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3323279/prudentials-new-business-profit-jumps-12-increase-hong-kong-sales?utm_source=rss_feed Wed, 27 Aug 2025 03:59:13 +0000 Julie Zhang Julie Zhang The first-half profit of China’s most valuable insurance company missed analysts’ estimates, as one-off revaluations of investments eroded the increasing sales of life and health products by Ping An Insurance (Group). Interim net profit fell 8.8 per cent to 68.05 billion yuan (US$9.50 billion) from a year earlier, missing a 4.4 per cent increase that was expected by Bloomberg’s consensus estimate. The value of new business in Ping An’s life and health insurance divisions, a key measure of future... https://www.scmp.com/business/banking-finance/article/3323232/ping-interim-profit-misses-estimates-china-rate-cut-erodes-banks-investments?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3323232/ping-interim-profit-misses-estimates-china-rate-cut-erodes-banks-investments?utm_source=rss_feed Tue, 26 Aug 2025 12:38:42 +0000 Yuke Xie Yuke Xie Chinese sportswear and equipment maker Li Ning posted a drop in interim profit, as weak consumer sentiment weighed on spending and intensifying industry competition squeezed profitability, with management warning of “stronger-than-expected” challenges in the second half. Net profit for the six months to June fell 11 per cent to 1.74 billion yuan US$241.9 million from a year ago under global accounting standards, according to a statement late on Thursday. Sales rose 3 per cent to 14.82 billion... https://www.scmp.com/business/china-business/article/3322765/li-nings-interim-profit-dips-11-amid-tough-competition-mainlands-sportswear-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3322765/li-nings-interim-profit-dips-11-amid-tough-competition-mainlands-sportswear-market?utm_source=rss_feed Fri, 22 Aug 2025 06:26:24 +0000 Enoch Yiu Enoch Yiu AIA Group, Asia’s largest insurer, posted a 12 per cent growth in first-half operating profit, buoyed by mainland Chinese customers buying insurance policies during their visits to Hong Kong. For the first six months of the year, operating profit on a constant currency basis reached US$3.61 billion, with earnings per share reaching 33.94 US cents, according to a stock exchange filing on Thursday. The results align with market estimates. The value of new business (VONB), a key indicator of sales... https://www.scmp.com/business/banking-finance/article/3322594/aia-profit-rises-12-first-half-mainland-visitors-buying-spree?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3322594/aia-profit-rises-12-first-half-mainland-visitors-buying-spree?utm_source=rss_feed Thu, 21 Aug 2025 03:22:36 +0000 Cao Li Cao Li Pop Mart said it would be able to easily double this year’s revenue from its 2024 record sales, as it prepares to launch a mini version of the Labubu plush toy to extend its phenomenal success and conquer more hearts beyond mainland China. The company, founded in 2010 in Beijing, could double its 2025 revenue to 30 billion yuan (US$4.2 billion) from last year’s sales of 13 billion yuan, said Pop Mart’s founder and CEO Wang Ning, citing the bigger-than-imagined worldwide market for its plush toys... https://www.scmp.com/business/china-business/article/3322488/mini-labubus-are-coming-after-your-mobile-phone-pop-mart-aims-double-2025-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3322488/mini-labubus-are-coming-after-your-mobile-phone-pop-mart-aims-double-2025-sales?utm_source=rss_feed Wed, 20 Aug 2025 07:18:13 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX) set records for second-quarter and first-half earnings amid a boom in initial public offerings (IPOs) and sizzling stock market turnover, according to a stock exchange filing on Wednesday. Second-quarter net profit for the operator of Asia’s third-largest stock market rose 41 per cent to HK$4.44 billion (US$569 million), or HK$3.51 per share, from the previous second-quarter high of HK$3.16 billion in 2024. This is the second consecutive quarterly record... https://www.scmp.com/business/companies/article/3322459/hkexs-first-half-profit-soars-39-record-ipo-boom-trading-volume?utm_source=rss_feed https://www.scmp.com/business/companies/article/3322459/hkexs-first-half-profit-soars-39-record-ipo-boom-trading-volume?utm_source=rss_feed Wed, 20 Aug 2025 04:33:03 +0000 Cao Li Cao Li Pop Mart established itself as the world’s most valuable toy producer and exporter of China’s “soft power” after the global phenomenon of its Labubu plush toys and figurines drove overseas revenue to soar fivefold in the first half. Online and in-store revenue outside China and Taiwan jumped to 5.59 billion yuan (US$778 million) in the first six months, making up about 40 per cent of the Beijing-based group’s total interim sales of 13.88 billion yuan, which beat analysts’ estimates, Pop Mart... https://www.scmp.com/business/article/3322400/pop-marts-interim-sales-soar-labubu-craze-fuels-chinese-toymakers-record-earnings?utm_source=rss_feed https://www.scmp.com/business/article/3322400/pop-marts-interim-sales-soar-labubu-craze-fuels-chinese-toymakers-record-earnings?utm_source=rss_feed Tue, 19 Aug 2025 11:11:36 +0000 Yuke Xie Yuke Xie Xtep International Holdings’ interim earnings surged to a record, as the sportswear maker and distributor of the Saucony brand of running shoes benefited from the new-found popularity of marathons and trail running in China. Net profit rose to a record 913.6 million yuan (US$127.3 million) in the first half, 6.4 per cent more than the revised interim earnings last year, Xtep said in a statement on Monday. Sales increased 7.1 per cent to 6.84 billion yuan, from the restated revenue of 6.38... https://www.scmp.com/business/companies/article/3322241/xtep-posts-record-interim-profit-chinas-marathon-boom-boosts-sales-saucony-shoes?utm_source=rss_feed https://www.scmp.com/business/companies/article/3322241/xtep-posts-record-interim-profit-chinas-marathon-boom-boosts-sales-saucony-shoes?utm_source=rss_feed Mon, 18 Aug 2025 10:30:24 +0000 Bloomberg Bloomberg Zhejiang Leapmotor Technology, once a fringe player in China’s electric vehicle (EV) industry, is beating all its start-up rivals by sales and stock gains this year and analysts say there is more to come. The carmaker’s Hong Kong-listed shares have doubled since January – outpacing better-known peers XPeng and Xiaomi – and have surged more than 200 per cent from a low in August last year. The company has increased its 2025 sales target to 500,000 units, up from around 290,000 a year earlier, and... https://www.scmp.com/business/markets/article/3322168/leapmotors-stock-and-sales-soar-become-new-challenger-chinas-booming-ev-market?utm_source=rss_feed https://www.scmp.com/business/markets/article/3322168/leapmotors-stock-and-sales-soar-become-new-challenger-chinas-booming-ev-market?utm_source=rss_feed Mon, 18 Aug 2025 02:09:09 +0000 Bloomberg Bloomberg JD.com’s revenue grew a faster-than-anticipated 22 per cent in the June quarter, benefiting from government-directed consumer subsidies as well as an aggressive drive into new arenas such as food delivery. The Nasdaq-listed shares of China’s top online retailer by revenue rose about 1 per cent in pre-market US trading. The Beijing-based company reported sales of 356.7 billion yuan (US$49.7 billion) for the quarter ended June 30, about 6 per cent above projections. Net income halved to 6.2... https://www.scmp.com/tech/big-tech/article/3321900/jdcom-quarterly-sales-beat-expectations-food-delivery-foray-cuts-profit?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3321900/jdcom-quarterly-sales-beat-expectations-food-delivery-foray-cuts-profit?utm_source=rss_feed Thu, 14 Aug 2025 12:24:39 +0000 Julie Zhang Julie Zhang CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to a filing to the Hong Kong stock exchange on Thursday. The earnings were way below analysts’ expectations of about HK$14.2... https://www.scmp.com/business/banking-finance/article/3321886/ck-assets-first-half-profit-falls-26-amid-hong-kong-property-market-challenges?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321886/ck-assets-first-half-profit-falls-26-amid-hong-kong-property-market-challenges?utm_source=rss_feed Thu, 14 Aug 2025 11:03:56 +0000 Daniel Ren Daniel Ren Geely Auto, mainland China’s second-largest carmaker, reported a 14 per cent drop in first-half profit even as revenue surged on sales of electric vehicles (EVs) to budget-conscious consumers aided by heavy discounts. Profit for the January to June period came in at 9.3 billion yuan (US$1.3 billion) versus 10.8 billion yuan a year earlier based on international accounting standards, according to a filing to the Hong Kong stock exchange on Thursday. The profit exceeded the 7.6 billion yuan... https://www.scmp.com/business/china-business/article/3321868/chinese-tycoon-li-shufus-geely-auto-posts-first-half-profit-decline-beats-estimates?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3321868/chinese-tycoon-li-shufus-geely-auto-posts-first-half-profit-decline-beats-estimates?utm_source=rss_feed Thu, 14 Aug 2025 10:00:45 +0000 Enoch Yiu Enoch Yiu CK Hutchison Holdings’ controversial US$23 billion deal to sell 43 overseas ports – including two at the Panama Canal – will not be completed this year, group co-managing director Frank Sixt said in a post-results briefing on Thursday. Sixt updated analysts about the progress of the proposed sale after the company posted a 92 per cent plunge in its interim profit, as various one-off costs amounting to HK$10.47 billion (US$1.3 billion) weighed on its performance, according to an exchange... https://www.scmp.com/business/article/3321872/ck-hutchison-first-half-profit-drops-92-one-costs-uk-vodafone-three-merger?utm_source=rss_feed https://www.scmp.com/business/article/3321872/ck-hutchison-first-half-profit-drops-92-one-costs-uk-vodafone-three-merger?utm_source=rss_feed Thu, 14 Aug 2025 09:12:43 +0000 Hannah Wang,Ann Cao Hannah Wang,Ann Cao Tencent Holdings’ second-quarter earnings beat analysts’ forecasts, as revenue from artificial intelligence (AI) boosted the bottom line of the world’s largest video games publisher and operator of the Chinese super app WeChat. Net profit rose 16 per cent to 56 billion yuan (US$7.81 billion) in the three months that ended in June, according to global accounting standards. Sales increased for the 11th quarter, jumping 15 per cent to 184.5 billion yuan and beating the consensus estimate of 19... https://www.scmp.com/tech/big-tech/article/3321738/tencents-2nd-quarter-sales-profit-top-forecasts-ai-gives-chinas-tech-giant-leg?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3321738/tencents-2nd-quarter-sales-profit-top-forecasts-ai-gives-chinas-tech-giant-leg?utm_source=rss_feed Wed, 13 Aug 2025 09:49:11 +0000 Julie Zhang,Hannah Wang Julie Zhang,Hannah Wang Hong Kong developer Wharf (Holdings) swung to a profit in the first half, supported by lower borrowing costs and a recovery in the city’s luxury housing market that offset weaker demand in its mainland China operations. Profit attributable to equity shareholders came in at HK$535 million (US$68.2 million), reversing a HK$2.64 billion loss a year earlier, according to a filing to the Hong Kong stock exchange on Tuesday. Underlying net profit, a reflection of the company’s business operations... https://www.scmp.com/business/banking-finance/article/3321559/wharf-posts-first-half-profit-hong-kong-luxury-property-market-offsets-mainland-woes?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321559/wharf-posts-first-half-profit-hong-kong-luxury-property-market-offsets-mainland-woes?utm_source=rss_feed Tue, 12 Aug 2025 07:33:57 +0000 Salina Li Salina Li Swire Pacific, which controls Hong Kong’s flag carrier Cathay Pacific, reported a marginal decline in first-half profit due to losses in its property business and weak consumer sentiment, while adding that the group’s outlook in its core markets remained uncertain for the rest of the year. The group’s underlying profit fell 2 per cent to HK$5.5 billion (US$700.6 million) in the six months to June, compared with HK$5.6 billion a year earlier, according to a filing to the Hong Kong stock exchange... https://www.scmp.com/business/article/3321109/hong-kongs-swire-pacific-warns-uncertain-outlook-after-posting-2-first-half-loss?utm_source=rss_feed https://www.scmp.com/business/article/3321109/hong-kongs-swire-pacific-warns-uncertain-outlook-after-posting-2-first-half-loss?utm_source=rss_feed Thu, 07 Aug 2025 10:06:48 +0000