https://www.scmp.com/rss/517955/feed The latest news, analysis and opinion on Midea Group. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Coco Feng,Yulu Ao Coco Feng,Yulu Ao Midea Group, the owner of industrial robot giant Kuka, is the latest Chinese company to pledge heavy investment in AI and robotics – another 60 billion yuan (US$8.7 billion) over the next three years – as traditional industries embrace futuristic technologies. The planned expenditure on research and development, with a focus on “AI, embodied intelligence and other cutting-edge areas”, matched its total spending over the past five years, the company announced in Shanghai on Tuesday. The strategic... https://www.scmp.com/tech/article/3346234/chinas-midea-pledges-us87-billion-ai-and-robotics-pivot-automation?utm_source=rss_feed https://www.scmp.com/tech/article/3346234/chinas-midea-pledges-us87-billion-ai-and-robotics-pivot-automation?utm_source=rss_feed Wed, 11 Mar 2026 14:30:10 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Friday, losing ground for the week, as a sell-off in technology stocks continued and dropping prices for gold, silver and cryptocurrencies rattled investors. The Hang Seng Index lost 1.2 per cent to 26,559.95, marking a 3 per cent weekly loss. The Hang Seng Tech Index lost 1.1 per cent. On the mainland, the CSI 300 Index fell 0.6 per cent and the Shanghai Composite Index slipped 0.3 per cent. Technology heavyweights led losses. Search-engine operator Baidu dropped 2.2... https://www.scmp.com/business/china-business/article/3342582/hong-kong-stocks-plunge-led-mainland-tech-firms-amid-global-sell-gold-crypto?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342582/hong-kong-stocks-plunge-led-mainland-tech-firms-amid-global-sell-gold-crypto?utm_source=rss_feed Fri, 06 Feb 2026 02:08:07 +0000 Carol Yang Carol Yang During a visit to Guangdong, China’s largest provincial-level contributor to gross domestic product, Premier Li Qiang emphasised the need for the province to continue leading the national economy, while Guangdong’s senior officials vowed “extraordinary” measures to drive growth. Li urged Guangdong to “strengthen advantages in innovative development and take the lead in reform and opening up” during his three-day visit from Saturday to Monday, according to Xinhua. His appeal comes as the Chinese... https://www.scmp.com/economy/china-economy/article/3338880/china-premier-urges-guangdong-ignite-economic-growth-amid-intensified-competition?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338880/china-premier-urges-guangdong-ignite-economic-growth-amid-intensified-competition?utm_source=rss_feed Tue, 06 Jan 2026 06:30:41 +0000 Eunice Xu Eunice Xu Home appliance maker Midea Group has developed MIRO U, a six-armed industrial humanoid robot scheduled to be deployed at its Wuxi washing machine plant by the end of this month. Speaking at the launch event last week, Midea’s chief technology officer Wei Chang said the “super humanoid” was a potential driver of industrial efficiency. The robot was expected to improve production line changeover efficiency by 30 per cent once it begins operating at the facility in Wuxi city, southern Jiangsu... https://www.scmp.com/tech/tech-trends/article/3335721/chinese-home-appliance-giant-midea-unveils-six-arm-robot-factory-work?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3335721/chinese-home-appliance-giant-midea-unveils-six-arm-robot-factory-work?utm_source=rss_feed Tue, 09 Dec 2025 06:59:48 +0000 Hamzah Rifaat Hamzah Rifaat Western analysts often frame automation, artificial intelligence (AI) and robotics as an existential threat to workers, with the risk of impending unemployment potentially triggering economic unrest. However, 74 per cent of all industrial robots deployed last year were in Asia, where they do not appear to be replacing workers but are instead redefining roles amid innovative modes for production and higher efficiency. As digital factories become ubiquitous, countries such as Vietnam and China are... https://www.scmp.com/opinion/asia-opinion/article/3335106/does-ais-rise-have-mean-job-losses-east-asia-tells-different-story?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3335106/does-ais-rise-have-mean-job-losses-east-asia-tells-different-story?utm_source=rss_feed Sun, 07 Dec 2025 01:30:09 +0000 Ralph Jennings Ralph Jennings Flagship Chinese companies, spanning sectors from tech to retail, are increasingly shunning the United States and expanding in less-developed markets such as Southeast Asia, where they can leverage historic low-cost advantages and build out supply chains, a Goldman Sachs strategist said. Chinese exports to non-US markets have grown at a compound annual rate of about 7.5 per cent since 2018, according to a research note by the investment bank. In contrast, exports to the US have declined by 0.6... https://www.scmp.com/economy/global-economy/article/3330215/china-shift-higher-end-exports-boosts-margins-mutual-gains-us-reliance-dips-report?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3330215/china-shift-higher-end-exports-boosts-margins-mutual-gains-us-reliance-dips-report?utm_source=rss_feed Sat, 25 Oct 2025 10:00:13 +0000 Coco Feng Coco Feng Guangdong province – China’s manufacturing powerhouse – has unveiled comprehensive plans to integrate artificial intelligence into industrial operations and attract foreign investment, underscoring its commitment to technological upgrading and international cooperation. The provincial government held two press conferences on Wednesday to outline a new three-year action plan – launched a day earlier – that aims to harness AI in manufacturing, as well as to preview an coming investment event... https://www.scmp.com/tech/big-tech/article/3329922/guangdong-pushes-ai-powered-growth-despite-looming-shadow-nexperia-tensions?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3329922/guangdong-pushes-ai-powered-growth-despite-looming-shadow-nexperia-tensions?utm_source=rss_feed Wed, 22 Oct 2025 11:00:08 +0000 Yulu Ao Yulu Ao Hong Kong stocks fell on Wednesday, tracking weakness on Wall Street as its recent rally lost momentum, while gold and silver extended their pullback from record highs. Investors also weighed whether US-China tensions could ease after US President Donald Trump offered mixed signals on a potential meeting with his Chinese counterpart Xi Jinping. The Hang Seng Index declined 0.9 per cent to 25,781.77 at the close of trading, erasing the 0.7 per cent gain recorded on Tuesday. The Hang Seng Tech... https://www.scmp.com/business/china-business/article/3329869/hong-kong-stocks-mirror-wall-street-slide-gold-and-silver-extend-retreat?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3329869/hong-kong-stocks-mirror-wall-street-slide-gold-and-silver-extend-retreat?utm_source=rss_feed Wed, 22 Oct 2025 02:23:35 +0000 Danielle Popov Danielle Popov The blistering summer in Europe, which was marked by unbearable heatwaves, boosted air conditioner sales for Midea Group, as consumers across the continent looked for inexpensive and durable cooling options. In a part of the world unaccustomed to installing ACs due to the temperate climate and high costs, Midea’s air conditioners were a hit in Germany for a second year in a row, according to Manuel Seethaler, head of public relations and strategy for Midea in Germany. “Now more users recognise... https://www.scmp.com/business/china-business/article/3326594/mideas-ac-sales-surge-35-europe-amid-heatwaves-offsetting-slowdown-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3326594/mideas-ac-sales-surge-35-europe-amid-heatwaves-offsetting-slowdown-china?utm_source=rss_feed Wed, 24 Sep 2025 23:30:08 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks dropped on Tuesday, retreating from the benchmark gauge’s biggest gain in more than two weeks a day earlier as blistering gains in the mainland’s markets took a pause. The Hang Seng Index fell 0.5 per cent to 25,496.55 at the close, surrendering part of the 2.2 per cent gain from the previous trading day. The Hang Seng Tech Index slid 1.2 per cent. A solid run among the mainland’s yuan-denominated stocks hit a snag as the CSI 300 Index slipped 0.7 per cent and the Shanghai... https://www.scmp.com/business/china-business/article/3323983/hong-kong-stocks-tread-water-after-hang-seng-indexs-biggest-advance-2-weeks?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3323983/hong-kong-stocks-tread-water-after-hang-seng-indexs-biggest-advance-2-weeks?utm_source=rss_feed Tue, 02 Sep 2025 02:25:36 +0000 Zhang Shidong,Cheryl Arcibal Zhang Shidong,Cheryl Arcibal Labubu-maker Pop Mart, Chinese e-commerce giant JD Logistics and mobile telecommunication provider China Telecom will join the Hang Seng Index next month, as the compiler of the Hong Kong’s stock benchmark makes steady progress towards boosting the number of constituents to 100. The three mainland companies would be added to the gauge after the market closes on September 5, taking the tally to 88 constituents from 85, Hang Seng Indexes said in revealing the results of its latest quarterly review... https://www.scmp.com/business/china-business/article/3322863/pop-mart-jd-logistics-and-china-telecom-join-hang-seng-index-quarterly-rebalancing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3322863/pop-mart-jd-logistics-and-china-telecom-join-hang-seng-index-quarterly-rebalancing?utm_source=rss_feed Fri, 22 Aug 2025 11:27:27 +0000 Xiaofei Xu Xiaofei Xu From Paris to Athens, and Lisbon to Berlin, Europeans are enduring a prolonged and punishing summer heatwave amid global warming. And rising right alongside the blazing temperatures are China’s exports of air conditioners (ACs) to the continent, with a nearly 60 per cent jump by volume in July, compared with the same time last year, according to Chinese customs data. The Spanish capital of Madrid kicked off the week under a yellow alert – the third-highest heat warning on a four-tier scale –... https://www.scmp.com/economy/global-economy/article/3322762/europes-scorching-heatwave-sets-demand-chinese-air-conditioners-ablaze?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3322762/europes-scorching-heatwave-sets-demand-chinese-air-conditioners-ablaze?utm_source=rss_feed Fri, 22 Aug 2025 08:00:12 +0000 Mark Greeven Mark Greeven When policymakers start using internet slang to describe the economy, it is a sign something is not right. The word neijuan was once used by Chinese students to depict burnout from seemingly pointless competition. Now it is showing up in policy language, to explain the growing economic strain caused by China’s price war. Too much supply and weak demand are pushing prices down. The deflationary pressure is building not just on company profits, but on the growth model that China has relied on for... https://www.scmp.com/opinion/china-opinion/article/3321819/china-needs-show-it-can-compete-more-price?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3321819/china-needs-show-it-can-compete-more-price?utm_source=rss_feed Fri, 15 Aug 2025 01:30:09 +0000 Ben Jiang,Coco Feng,Wency Chen Ben Jiang,Coco Feng,Wency Chen July 9, 2024, may be remembered as a day of humiliation for China’s artificial intelligence community. On that day, US start-up OpenAI, the global leader in AI model development, blocked developers in China – including Hong Kong and Macau – from using its GPT models. In contrast, developers from countries ranging from Afghanistan to Zimbabwe were given access, reflecting OpenAI’s unspoken belief that its valuable models must be safeguarded against misuse by China, along with Iran, Russia and... https://www.scmp.com/tech/big-tech/article/3318747/how-chinas-open-source-ai-helping-deepseek-alibaba-take-silicon-valley?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3318747/how-chinas-open-source-ai-helping-deepseek-alibaba-take-silicon-valley?utm_source=rss_feed Sat, 19 Jul 2025 02:00:14 +0000 Coco Feng Coco Feng China’s fast-developing humanoid robot market segment is seeing demand from enterprises gather speed, as prominent start-ups AgiBot and Unitree Robotics have landed orders totalling 124 million yuan (US$17.3 million) from state-owned China Mobile, the world’s largest telecommunications firm by number of subscribers. That order from China Mobile’s subsidiary in Hangzhou, capital of eastern Zhejiang province, involves the supply of 78 million yuan worth of full-size humanoid robots from AgiBot and... https://www.scmp.com/tech/tech-trends/article/3318152/robot-makers-agibot-unitree-and-ubtech-land-more-orders-chinese-enterprises?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3318152/robot-makers-agibot-unitree-and-ubtech-land-more-orders-chinese-enterprises?utm_source=rss_feed Mon, 14 Jul 2025 12:00:12 +0000 Zhang Shidong Zhang Shidong Chinese artificial intelligence (AI) stocks are expected to defy a slowdown across industries, as the mainland relies on the technology to boost business efficiency and revive economic growth, according to investors and analysts. Companies including Meituan and Xiaomi were set to benefit from a wave of AI integration that would transform business models, according to Morgan Stanley, as investors look for new winners after DeepSeek’s breakthrough in generative AI technology. China Asset... https://www.scmp.com/business/china-business/article/3317550/chinese-ai-stocks-extend-deepseek-driven-run-beijing-counts-growth-boost?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3317550/chinese-ai-stocks-extend-deepseek-driven-run-beijing-counts-growth-boost?utm_source=rss_feed Wed, 09 Jul 2025 23:30:07 +0000 Yuke Xie Yuke Xie When Chinese smartphone maker Xiaomi launched its first electric vehicle (EV) in March 2024, few believed it could rival industry leaders like Tesla, BYD, Xpeng and Li Auto. After a surprisingly strong debut and with the company’s EV segment poised to break even this year, however, the Beijing-based firm is now embarking on an ambitious push into another sector to challenge established competitors: the home appliances market. Partly fuelled by Beijing’s aggressive subsidies to boost consumption,... https://www.scmp.com/business/companies/article/3317178/xiaomi-guns-home-appliances-after-disrupting-smartphones-and-evs-will-it-succeed?utm_source=rss_feed https://www.scmp.com/business/companies/article/3317178/xiaomi-guns-home-appliances-after-disrupting-smartphones-and-evs-will-it-succeed?utm_source=rss_feed Tue, 08 Jul 2025 00:30:08 +0000 John Cremer John Cremer The Hong Kong market is riding a wave of optimism after a series of high-profile listings by mainland firms, and one eye-catching factor has been the success of firms in the consumer and retail services sector. Indeed, since 2024, that segment has led the way among Hong Kong initial public offerings (IPOs) in terms of both funds raised and total deals closed, which is spurring investor confidence. Notably, home appliance giant Midea Group raised HK$31 billion (US$3.95 billion) last September.... https://www.scmp.com/special-reports/article/3316583/retail-services-has-been-key-sector-hong-kong-ipos-2024?utm_source=rss_feed https://www.scmp.com/special-reports/article/3316583/retail-services-has-been-key-sector-hong-kong-ipos-2024?utm_source=rss_feed Wed, 02 Jul 2025 04:45:08 +0000 Alice Li Alice Li In 2007, a Chinese PhD student at the University of Cambridge launched a start-up with a former classmate focused on using speech recognition technology to help foreigners learn Chinese. A year later, Yu Kai and his team returned to China, aiming to draw on the country’s vast market and deep talent pool to propel their nascent company’s development. Swapping Cambridge for Suzhou – a city in eastern China then more famous for its picturesque gardens and canals than its tech sector – may have... https://www.scmp.com/economy/china-economy/article/3316083/cambridge-suzhou-chinese-ai-start-ups-journey-unicorn-status?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3316083/cambridge-suzhou-chinese-ai-start-ups-journey-unicorn-status?utm_source=rss_feed Sat, 28 Jun 2025 09:00:09 +0000 Stephen Chen Stephen Chen In a Beijing defence drone facility, a black carbon-fibre body frame sits on a workstation ready for drilling. The material is light and strong, but a fractional error in angle or positioning could affect stealth performance and lead to the scrapping of the entire part. Master technicians once performed this task – breath held, hands steady – relying on years of muscle memory. Despite their skill, human limitations capped the speed of production and kept costs high. That changed with a... https://www.scmp.com/news/china/science/article/3313674/study-shows-how-robots-replaced-master-workers-chinese-military-drone-factory?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3313674/study-shows-how-robots-replaced-master-workers-chinese-military-drone-factory?utm_source=rss_feed Mon, 09 Jun 2025 13:00:13 +0000 Ann Cao Ann Cao Chinese e-commerce giants Alibaba Group Holding and JD.com are seeing strong sales momentum in their respective campaigns for this year’s 618 shopping festival, on the back of the government’s national subsidy programme. Preliminary 618 retail data from Taobao and Tmall Group (TTG), Alibaba’s domestic e-commerce unit, showed sales of categories that benefit from government subsidies – including consumer electronics products and home appliances – surged 283 per cent during the campaign’s initial... https://www.scmp.com/tech/big-tech/article/3312923/alibaba-jdcom-sales-surge-during-618-shopping-festival-back-subsidy-programme?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3312923/alibaba-jdcom-sales-surge-during-618-shopping-festival-back-subsidy-programme?utm_source=rss_feed Tue, 03 Jun 2025 12:00:11 +0000 Ben Jiang Ben Jiang In Inner Mongolia, a convoy of haul trucks rumbles across the dusty, jagged terrain of the Yimin open-pit coal mine. It is a familiar scene in this part of northern China, home to some of the country’s biggest mineral deposits, but a closer look reveals a futuristic twist to this age-old trade: the vehicles operate without drivers. Yimin is one of the five largest open-cast coal mines in China. During peak season, it used to require about 300 trucks, operated by around 1,200 drivers working... https://www.scmp.com/tech/policy/article/3312442/future-mining-how-china-upgrading-traditional-industry-driverless-evs?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3312442/future-mining-how-china-upgrading-traditional-industry-driverless-evs?utm_source=rss_feed Sat, 31 May 2025 03:00:13 +0000 Julie Zhang Julie Zhang Five mainland companies have filed preliminary listing applications with the Hong Kong stock exchange to raise capital, joining the flurry of Chinese start-ups that have pushed the city to the top of the global rankings for initial public offerings (IPOs). The pack was led by Shenzhen-listed Muyuan Foods, one of the world’s largest hog breeders and pork producers, which could raise up to US$1 billion through a secondary listing. The firm has named Morgan Stanley, CLSA and Goldman Sachs as the... https://www.scmp.com/business/banking-finance/article/3312087/muyuan-basic-fscom-seer-and-worldwide-file-raise-capital-hong-kongs-ipo-flurry?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3312087/muyuan-basic-fscom-seer-and-worldwide-file-raise-capital-hong-kongs-ipo-flurry?utm_source=rss_feed Wed, 28 May 2025 05:34:49 +0000 Zhang Shidong Zhang Shidong Hong Kong is poised to be the world’s top initial public offering (IPO) venue at the end of the year, as a surge in listings by high-quality Chinese companies coincides with interest from global investors seeking alternatives to US assets, according to UBS Group. The city’s stock market had taken the lead in global IPO rankings, with investor interest, liquidity and turnover exceeding expectations, said Edwin Chen, Beijing-based co-head of global banking at UBS Securities, the wholly owned... https://www.scmp.com/business/china-business/article/3311820/hong-kong-dominate-2025-ipo-action-amid-rush-quality-chinese-firms-ubs-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3311820/hong-kong-dominate-2025-ipo-action-amid-rush-quality-chinese-firms-ubs-says?utm_source=rss_feed Mon, 26 May 2025 23:30:07 +0000 Ann Cao Ann Cao Apple, Huawei Technologies and Xiaomi lead mainland China’s top brands based on domestic consumers’ online purchase behaviour, according to the first such ranking carried out by Peking University in Beijing. With the support of Taobao and Tmall Group (TTG), the domestic e-commerce unit of Alibaba Group Holding, the university released its findings on Wednesday in a report that featured “China’s Top 500 Online Consumer Brands List”. Alibaba owns the South China Morning Post. The rankings showed... https://www.scmp.com/tech/tech-trends/article/3311381/apple-huawei-xiaomi-lead-chinas-top-500-ranking-consumer-brands-report-finds?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3311381/apple-huawei-xiaomi-lead-chinas-top-500-ranking-consumer-brands-report-finds?utm_source=rss_feed Thu, 22 May 2025 13:00:11 +0000 Yuke Xie,Zhang Shidong Yuke Xie,Zhang Shidong Hang Seng Index compiler added Midea Group, China’s biggest maker of home appliances, and logistics operator ZTO Express to Hong Kong’s stock benchmark, enlarging the number of constituents to 85 following a regular quarterly review. Midea and ZTO would join as benchmark index members after the close of trading on June 6, with an estimated weighting of 0.33 per cent and 0.44 per cent, respectively, Hang Seng Indexes said in a statement on Friday. No stock was removed in the review. The changes... https://www.scmp.com/business/china-business/article/3310700/midea-zto-express-join-hang-seng-index-june-9-after-quarterly-review?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3310700/midea-zto-express-join-hang-seng-index-june-9-after-quarterly-review?utm_source=rss_feed Fri, 16 May 2025 11:53:55 +0000 Coco Feng Coco Feng Huawei Technologies has partnered with UBTech Robotics to advance the development of humanoids for factories and households, according to a joint announcement on Monday, as China ramps up broader adoption of these machines. The agreement – signed in tech hub Shenzhen, in southern Guangdong province, where both companies are headquartered – aims to “accelerate the transition of humanoid robots from laboratory innovations” to “large-scale adoption in industrial, household and other scenarios”. The... https://www.scmp.com/tech/tech-trends/article/3310039/shenzhen-based-huawei-ubtech-join-forces-bring-humanoid-robots-factories-and-homes?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3310039/shenzhen-based-huawei-ubtech-join-forces-bring-humanoid-robots-factories-and-homes?utm_source=rss_feed Mon, 12 May 2025 12:00:18 +0000 Coco Feng Coco Feng Chinese humanoid robot company UBTech Robotics and home appliance giant Midea Group are accelerating the deployment of robotic workers in factories, as the country pushes for greater adoption of the technology. UBTech has secured a buyer for a “small batch” of its bipedal robots Walker S1 and Walker C, to be used “for manufacturing needs and commercial hospitality in automobile factories”, the company said in a filing to the Hong Kong stock exchange on Sunday. The Shenzhen-based company did not... https://www.scmp.com/tech/big-tech/article/3308225/chinas-ubtech-robotics-and-appliance-maker-midea-push-humanoids-factories-retail?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3308225/chinas-ubtech-robotics-and-appliance-maker-midea-push-humanoids-factories-retail?utm_source=rss_feed Mon, 28 Apr 2025 11:00:10 +0000 Enoch Yiu Enoch Yiu Technology giant Tencent Holdings was Chinese mutual funds’ top stock holding in the first quarter, pushing Contemporary Amperex Technology (CATL) into second place, as mainland institutional investors increased their holdings of Hong Kong-listed shares, according to data from TX Investment Consulting on Wednesday. A total of 1,186 mainland Chinese mutual funds held a combined 151 million Tencent shares worth 69.38 billion yuan (US$9.5 billion) at the end of March, the data showed. CATL, the... https://www.scmp.com/business/companies/article/3307597/tencent-tops-chinese-mutual-funds-holdings-hong-kong-stocks-gain-traction?utm_source=rss_feed https://www.scmp.com/business/companies/article/3307597/tencent-tops-chinese-mutual-funds-holdings-hong-kong-stocks-gain-traction?utm_source=rss_feed Wed, 23 Apr 2025 09:00:16 +0000 Zhang Shidong Zhang Shidong China’s publicly listed companies have unveiled at least 20 billion yuan (US$2.73 billion) in buy-backs this week, as they set aside resources to prop up their own stock during a global meltdown in equity markets triggered by US President Donald Trump’s tariff war. More than 100 companies have announced buy-backs, including China’s state oil company PetroChina and the world’s largest appliance maker Midea Group. Electric vehicle battery producer Contemporary Amperex Technology or CATL, which is... https://www.scmp.com/business/china-business/article/3305967/chinese-firms-set-aside-us27-billion-stock-buy-backs-trumps-tariffs-roil-markets?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3305967/chinese-firms-set-aside-us27-billion-stock-buy-backs-trumps-tariffs-roil-markets?utm_source=rss_feed Thu, 10 Apr 2025 23:30:07 +0000 Can China innovate and outcompete the US in their pitched battle for technological supremacy? A 20-month investigation into the innovation performance of 44 Chinese firms across key technologies – including nuclear power, semiconductors, artificial intelligence, electric vehicles and materials science – revealed a troubling yes for the US. On Wednesday, analysts from the Information Technology and Innovation Foundation, a Washington think tank, presented their findings at a Capitol Hill event,... https://www.scmp.com/news/china/article/3279054/us-study-finds-chinas-tech-innovation-much-stronger-previously-understood?utm_source=rss_feed https://www.scmp.com/news/china/article/3279054/us-study-finds-chinas-tech-innovation-much-stronger-previously-understood?utm_source=rss_feed Wed, 18 Sep 2024 19:43:20 +0000 LianLian DigiTech is seeking HK$612 million (US$78 million) in an initial public offering (IPO) in Hong Kong this week, a fraction of the US$500 million it had originally sought to raise in June 2023 as market conditions continue to dampen investor sentiment. The Hangzhou-based company is offering 55.9 million shares at HK$10.95 each, for expected proceeds of HK$485 million after underwriting fees and expenses, according to its prospectus filed with the Hong Kong stock exchange on Wednesday. The... https://www.scmp.com/business/banking-finance/article/3256023/chinese-payment-provider-lianlian-digitech-files-us78-million-hong-kong-ipo-less-fifth-its-target?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3256023/chinese-payment-provider-lianlian-digitech-files-us78-million-hong-kong-ipo-less-fifth-its-target?utm_source=rss_feed Wed, 20 Mar 2024 02:31:54 +0000 Hong Kong’s market for initial public offerings (IPOs) is suffering from another sluggish start in 2024. Once a beacon of hope for retail investors looking for a windfall and a lucrative source of fees for investment bankers, listings have instead become a source of stress and job insecurity due to a drop in such activity. This year, five companies have raised HK$2.18 billion (US$279 million) from their stock offerings in the first two months, according to data compiled by London Stock Exchange... https://www.scmp.com/business/banking-finance/article/3254656/stress-and-despair-new-year-old-wounds-hong-kong-bankers-ipo-market-slump-and-windfalls-elude?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3254656/stress-and-despair-new-year-old-wounds-hong-kong-bankers-ipo-market-slump-and-windfalls-elude?utm_source=rss_feed Sat, 09 Mar 2024 02:00:18 +0000 No new companies will be added to Hong Kong’s benchmark Hang Seng Index in March, leaving the total number of blue chip constituents unchanged at 82, according to the latest quarterly review by Hang Seng Indexes Company on Friday. The review was the first time in the past three quarters that saw no new inclusions to the benchmark. In the last rebalancing in December, Chinese electric-vehicle maker Li Auto and pharmaceutical company WuXi Apptec were included, while no members were dropped. The... https://www.scmp.com/business/banking-finance/article/3252232/hong-kong-stock-index-compiler-leaves-blue-chip-hang-seng-benchmark-unchanged-latest-quarterly?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3252232/hong-kong-stock-index-compiler-leaves-blue-chip-hang-seng-benchmark-unchanged-latest-quarterly?utm_source=rss_feed Fri, 16 Feb 2024 12:10:21 +0000 Index provider MSCI is cutting dozens of Chinese companies from its global benchmarks following its February review, after many stocks tumbled as China’s market erased trillions of dollars in value. At the same time, it raised India’s weightage in its Global Standard (Emerging Markets) index to a historic high of 18.2 per cent. MSCI added five Indian stocks to its Global Standard index with no deletions. In contrast, the index provider deleted 66 Chinese stocks in the highest tally of exclusions... https://www.scmp.com/business/banking-finance/article/3251818/indias-stock-weightage-climbs-record-high-msci-global-standard-index-seen-rising-further?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3251818/indias-stock-weightage-climbs-record-high-msci-global-standard-index-seen-rising-further?utm_source=rss_feed Tue, 13 Feb 2024 05:21:37 +0000 When Chinese baijiu maker ZJLD Group raised HK$5.31 billion (US$676.4 million) in April, few would have expected it to be Hong Kong’s biggest initial public offering of the year. It trailed China Tourism Group Duty Free’s US$2.3 billion IPO in 2022 and fell far short of short-video platform Kuaishou Tech’s US$6.2 billion listing the previous year. Hong Kong’s IPO value fell 53.5 per cent to a 20-year low of US$5.9 billion from 68 listings, according to Refinitiv data. Simply put, 2023 was dismal... https://www.scmp.com/business/markets/article/3246630/hong-kong-ipo-market-revival-cards-amid-favourable-interest-rate-outlook-china-policy-easing?utm_source=rss_feed https://www.scmp.com/business/markets/article/3246630/hong-kong-ipo-market-revival-cards-amid-favourable-interest-rate-outlook-china-policy-easing?utm_source=rss_feed Sat, 30 Dec 2023 02:00:18 +0000 There are more than 90 initial public offering (IPO) applications in the pipeline in Hong Kong, but the city needs more than a few blockbusters to hit the market, if there is going to be any improvement in 2024. The city’s new IPO market this year has been one of the bleakest in two decades. A total of 42 companies raised US$3.13 billion on the main board of the Hong Kong stock exchange in the first nine months, according to financial data provider Refinitiv. The fourth quarter has not been much... https://www.scmp.com/business/banking-finance/article/3245455/hong-kong-ipos-cainiao-midea-jd-industrials-sf-holding-and-movoi-hotly-anticipated-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3245455/hong-kong-ipos-cainiao-midea-jd-industrials-sf-holding-and-movoi-hotly-anticipated-market?utm_source=rss_feed Mon, 25 Dec 2023 02:00:10 +0000 WuXi XDC Cayman Inc could raise as much as HK$4.07 billion (US$520 million) from its initial public offering (IPO) in Hong Kong this month, using the cash to expand its contract research and manufacturing services in the pharmaceutical and biotechnology industries. The firm, a 60 per cent-owned unit of WuXi Biologics, will sell 178.4 million new shares to investors at an indicative price range of HK$19.90 to HK$20.60 per share, according to its listing prospectus published on Tuesday. An... https://www.scmp.com/business/banking-finance/article/3240609/hong-kong-ipo-wuxi-biologics-spin-contract-research-manufacturing-unit-us520-million-deal-biotech?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3240609/hong-kong-ipo-wuxi-biologics-spin-contract-research-manufacturing-unit-us520-million-deal-biotech?utm_source=rss_feed Tue, 07 Nov 2023 06:30:14 +0000 Midea Group, the world’s biggest home appliances maker, has submitted plans to list its shares in Hong Kong after an initial public offering (IPO) which could be one of the biggest in recent history. China International Capital Corporation and Bank of America have been appointed sponsors of the deal, according to a stock exchange filing. The initial public offering (IPO) could raise more than US$1 billion subject to changes in market conditions, sources familiar with the deal had previously told... https://www.scmp.com/business/banking-finance/article/3239051/chinas-home-appliance-maker-midea-group-applies-hong-kong-listing-after-what-could-be-one-biggest?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3239051/chinas-home-appliance-maker-midea-group-applies-hong-kong-listing-after-what-could-be-one-biggest?utm_source=rss_feed Tue, 24 Oct 2023 22:30:15 +0000 Share listings in Hong Kong in the first nine months of 2023 raised the smallest pile of funds in 20 years, putting the city’s bourse in ninth place in a global ranking of initial public offering (IPO) venues as investors and analysts look to the fourth quarter for a resumption of mega deals. A total of 42 companies raised US$3.13 billion on the main board of the Hong Kong stock exchange in the first nine months, according to data company Refinitiv. Funding fell 65 per cent from the same period... https://www.scmp.com/business/article/3236144/hong-kong-ipos-droop-20-year-fundraising-low-exchange-ranks-ninth-globally-amid-hopes-fourth-quarter?utm_source=rss_feed https://www.scmp.com/business/article/3236144/hong-kong-ipos-droop-20-year-fundraising-low-exchange-ranks-ninth-globally-amid-hopes-fourth-quarter?utm_source=rss_feed Thu, 28 Sep 2023 10:00:19 +0000 Hong Kong Exchanges and Clearing (HKEX), which operates Asia’s third largest stock market, will launch a long-awaited new digitalised initial public offering (IPO) platform on November 22 in its latest push to reboot the city’s new listings market. The Fast Interface for New Issuance, or FINI, will speed up the IPO process by cutting the time between listing pricing and the start of trade from the current five business days to two, according to an exchange announcement on Wednesday. Unlike the... https://www.scmp.com/business/banking-finance/article/3236005/hong-kong-bourse-operator-hkex-launch-digital-ipo-platform-fini-november-22-eyes-cutting-settlement?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3236005/hong-kong-bourse-operator-hkex-launch-digital-ipo-platform-fini-november-22-eyes-cutting-settlement?utm_source=rss_feed Wed, 27 Sep 2023 10:32:17 +0000 Cainiao Smart Logistics Network has applied to raise funds in Hong Kong in what is widely expected to be the city’s second-largest initial public offering (IPO) this year, as the first of Alibaba Group Holding’s six spin-off companies tests the appetite for new listings in Asia’s third-biggest capital market. Cainiao has submitted its A1 filing to the Hong Kong stock exchange, Alibaba said in an exchange filing in Hong Kong. The company is aiming to raise at least US$1 billion, subject to market... https://www.scmp.com/business/banking-finance/article/3235860/alibabas-cainiao-files-us1-billion-ipo-helping-hong-kong-land-worlds-second-biggest-listing-2023?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3235860/alibabas-cainiao-files-us1-billion-ipo-helping-hong-kong-land-worlds-second-biggest-listing-2023?utm_source=rss_feed Tue, 26 Sep 2023 09:42:26 +0000 A biotech company and a provider of logistics services on Monday kicked off a string of six Hong Kong trading debuts this week that could raise a combined HK$3.58 billion (US$458 million), as the city’s performance as a venue for share listings continues to disappoint versus past years. Wuhan YZY Biopharma priced its shares at HK$16, in the lower end of its target range, raising HK$172 million on Monday. Its shares rose as much as 5 per cent. Meanwhile, LC Logistics raised HK$149 million as its... https://www.scmp.com/business/banking-finance/article/3235754/six-hong-kong-share-listings-week-set-raise-us458-million-amid-lacklustre-year-ipos?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3235754/six-hong-kong-share-listings-week-set-raise-us458-million-amid-lacklustre-year-ipos?utm_source=rss_feed Mon, 25 Sep 2023 12:06:56 +0000 Hong Kong’s public fundraising environment is at its toughest in over a decade, as the global banking turbulence, high interest rates and slow recovery pace of mainland China’s economy bruised investor sentiment, according to Deloitte China. Hong Kong is currently ranked eighth globally among initial public offering (IPO) fundraising centres, according to the Deloitte China Capital Market Service Group (CMSG) third-quarter report. For the full year, the consultancy expects the Hong Kong IPO... https://www.scmp.com/business/banking-finance/article/3235485/hong-kongs-ipo-environment-toughest-over-decade-rising-interest-rates-banking-tumult-economic?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3235485/hong-kongs-ipo-environment-toughest-over-decade-rising-interest-rates-banking-tumult-economic?utm_source=rss_feed Fri, 22 Sep 2023 10:15:24 +0000 Midea Group, the world’s biggest home appliances maker, plans to submit its listing application in Hong Kong as early as next month in a jumbo initial public offering (IPO) by the entity controlled by China’s seventh richest billionaire, according to people familiar with the matter. The firm has appointed China International Capital Corp (CICC) and Bank of America as joint sponsors to prepare the so-called A1 form submission, the people said. Barring market hiccups, the stock could start trading... https://www.scmp.com/business/banking-finance/article/3235329/midea-group-chinas-world-beating-home-appliances-giant-file-us1-billion-hong-kong-ipo-next-month?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3235329/midea-group-chinas-world-beating-home-appliances-giant-file-us1-billion-hong-kong-ipo-next-month?utm_source=rss_feed Thu, 21 Sep 2023 09:03:48 +0000 Chinese home appliance giant Midea Group has selected Bank of America and China International Capital Corporation to arrange its planned Hong Kong listing, according to people familiar with the matter. The Shenzhen-traded company is aiming for a listing in the city as soon as next year, said the people, who asked not to be identified as the information is private. Midea has not made a final decision on the fundraising size, the people said. Midea is China’s largest home appliance maker with a... https://www.scmp.com/business/banking-finance/article/3230644/chinese-appliance-giant-midea-picks-bank-america-cicc-hong-kong-listing-sources-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3230644/chinese-appliance-giant-midea-picks-bank-america-cicc-hong-kong-listing-sources-say?utm_source=rss_feed Thu, 10 Aug 2023 09:39:13 +0000 China’s top air-conditioner manufacturers are having their best summer in years as sales multiply amid extreme heatwaves. That is about to make the market-beating rally in Hisense Home Appliances Group even better in the months ahead, analysts said. Hisense, one of the largest industry players, has appreciated 141.6 per cent in Hong Kong this year through Wednesday, boosting its market value to HK$33.8 billion (US$4.3 billion), according to Bloomberg data. That has outgunned the broader market’s... https://www.scmp.com/business/markets/article/3228938/chinese-hot-stock-about-get-even-better-after-rallying-nearly-150-cent-hong-kong-thanks-record?utm_source=rss_feed https://www.scmp.com/business/markets/article/3228938/chinese-hot-stock-about-get-even-better-after-rallying-nearly-150-cent-hong-kong-thanks-record?utm_source=rss_feed Wed, 26 Jul 2023 03:55:12 +0000 Chinese billionaire entrepreneur He Xiangjian, founder and largest shareholder of home appliances giant Midea Group, on Sunday unveiled an eponymous 3 billion yuan (US$428 million) science fund to boost artificial intelligence (AI) and climate research in the country. He, 80, revealed the fund’s creation via a video recording played on the second day of the Greater Bay Science Forum 2023, which concludes on Tuesday in the Nansha district of Guangzhou, capital of southern Guangdong... https://www.scmp.com/tech/big-tech/article/3221400/chinese-billionaire-he-xiangjian-founder-home-appliances-giant-midea-creates-us428-million-science?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3221400/chinese-billionaire-he-xiangjian-founder-home-appliances-giant-midea-creates-us428-million-science?utm_source=rss_feed Mon, 22 May 2023 11:30:10 +0000 Midea Group Co. is exploring a potential acquisition of Electrolux AB, according to people familiar with the matter, a bold move by the Chinese home appliance giant to add the higher-end luxury Swedish brand despite potential political opposition. Midea made a preliminary approach in recent weeks to the white-goods manufacturer about a potential deal, said the people, who asked not to be identified because discussions are private. Electrolux has so far not been receptive to the proposal, some of... https://www.scmp.com/business/china-business/article/3218962/chinas-midea-considering-potential-acquisition-electrolux-despite-potential-political-opposition?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3218962/chinas-midea-considering-potential-acquisition-electrolux-despite-potential-political-opposition?utm_source=rss_feed Mon, 01 May 2023 02:39:38 +0000 Consumer companies have led a rally in China’s stocks since the easing of Covid-19 restrictions released pent-up demand, even as major cities experience a spike in infections that is putting a strain on the healthcare system. A gauge of consumer-staple stocks on the CSI 300 index, mostly comprising baijiu distillers such as Kweichow Moutai and Wuliangye Yibin, has gained 28 per cent since the start of November, making it the best performer among 10 industry groups. A measure of... https://www.scmp.com/business/china-business/article/3203273/consumer-stocks-lead-china-rally-even-surging-covid-19-infections-big-cities-cause-jitters?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3203273/consumer-stocks-lead-china-rally-even-surging-covid-19-infections-big-cities-cause-jitters?utm_source=rss_feed Wed, 14 Dec 2022 08:43:43 +0000