https://www.scmp.com/rss/92/feed Get the latest corporate, market and business news and analysis. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Coco Feng Coco Feng ByteDance, the Chinese owner of TikTok, is pushing deeper into artificial intelligence with Anew Labs, a drug-discovery unit that has begun presenting its AI-designed therapies at international conferences. The unit – also known as Anew Therapeutics or ByteDance AI Drug Discovery – operates from Shanghai, Singapore and San Jose, California. Its official website listed 36 core members, as well as big names on its “scientific advisory board”: Liu Yongjun, former president of Innovent Biologics, Ji... https://www.scmp.com/tech/article/3352032/bytedances-drug-unit-presents-ai-designed-therapies-global-conferences?utm_source=rss_feed https://www.scmp.com/tech/article/3352032/bytedances-drug-unit-presents-ai-designed-therapies-global-conferences?utm_source=rss_feed Sat, 02 May 2026 07:00:09 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi At the close of his presentation at this year’s Auto China show, Li Fenggang, president of Beijing Hyundai Motor, surprised the audience by asking them to lift LED boxes placed on their seats. “We’ll use this beam of light to kick off Hyundai’s new journey in China,” he said, raising the device stamped with the logo of Ioniq, the new brand the Korean carmaker has just launched in mainland China. After years of lacklustre performance in the country, Hyundai was preparing to regain lost ground by... https://www.scmp.com/business/china-evs/article/3352094/comeback-trail-can-foreign-marques-regain-lost-ground-amid-chinas-ev-revolution?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3352094/comeback-trail-can-foreign-marques-regain-lost-ground-amid-chinas-ev-revolution?utm_source=rss_feed Sat, 02 May 2026 03:00:08 +0000 Daniel Ren,Ben Jiang Daniel Ren,Ben Jiang China’s latest electric vehicle (EV) innovations – from ultra-fast battery charging to headlights capable of projecting films – have drawn strong attention at Beijing’s Auto China show, underscoring how the country’s automotive technology is pulling ahead of global rivals. As domestic carmakers and key suppliers recast vehicles as “mobile living spaces” powered by artificial intelligence and digital systems, they are increasingly looking beyond the mainland to drive export growth. “We are... https://www.scmp.com/business/china-business/article/3352100/lights-camera-traction-film-projecting-headlights-steer-chinas-ev-feature-fight?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352100/lights-camera-traction-film-projecting-headlights-steer-chinas-ev-feature-fight?utm_source=rss_feed Fri, 01 May 2026 09:00:09 +0000 Enoch Yiu Enoch Yiu Gold bars, cruises, Dior beauty services and Rosewood Hong Kong vouchers are just some of the incentives Hong Kong’s major lenders are offering in hopes of capturing wealthy clients, as visitors from mainland China descend on the city during the golden week holiday starting on Friday. HSBC, Standard Chartered and Bank of China (Hong Kong) – the city’s three biggest banks – Citigroup, DBS Hong Kong, ICBC Asia, Bank of East Asia and Hang Seng Bank have all extended the hours of certain branches on... https://www.scmp.com/business/banking-finance/article/3352097/gold-cruises-and-dior-how-hong-kong-lenders-are-enticing-wealthy-mainland-china-visitors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3352097/gold-cruises-and-dior-how-hong-kong-lenders-are-enticing-wealthy-mainland-china-visitors?utm_source=rss_feed Fri, 01 May 2026 05:30:07 +0000 Zhang Shidong Zhang Shidong Chinese property stocks are poised for a comeback, as investors believe that a rebound in tier-one city home prices is a sign that the sector’s years-long woes are nearing an end. The pickup in home prices in mega cities such as Beijing and Shanghai has coincided with a spike in transaction volumes, indicating that buyers are piling in after prices have fallen to more affordable levels. In March, more than 30,000 lived-in homes were sold in Shanghai, the highest in five years, after the city... https://www.scmp.com/business/china-business/article/3352031/battered-chinese-property-stocks-primed-comeback-industry-shows-signs-turning?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352031/battered-chinese-property-stocks-primed-comeback-industry-shows-signs-turning?utm_source=rss_feed Fri, 01 May 2026 04:30:09 +0000 Zhu Wenqian Zhu Wenqian As China’s bear housing market enters its fifth year, a growing number of global investment bank analysts and property agents are increasingly optimistic on the sector, underscoring a positive view on its outlook fuelled by upbeat data in April. Bank of America holds a positive stance on the sector and believes the “green shoots” of a recovery are visible, it said in a report issued in late April. After five consecutive years of weakness, the bank said “market recovery sustainability is becoming... https://www.scmp.com/business/article/3352045/green-shoots-appear-china-property-banks-turn-bullish-after-5-year-bear-market?utm_source=rss_feed https://www.scmp.com/business/article/3352045/green-shoots-appear-china-property-banks-turn-bullish-after-5-year-bear-market?utm_source=rss_feed Fri, 01 May 2026 03:00:09 +0000 Xinmei Shen Xinmei Shen Artificial intelligence investments by US tech giants continue to soar, dwarfing those of Chinese AI firms, but China’s rising appetite for AI applications will compel its tech companies to increase their AI spending this year, according to analysts. The largest US tech companies are on track for more than US$700 billion in AI capital expenditures this year, driven in part by rising memory costs and continuously growing demand for AI applications. Google and Microsoft on Thursday both said that... https://www.scmp.com/tech/big-tech/article/3352068/chinese-firms-face-pressure-ai-investments-us-peers-spending-keeps-soaring?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3352068/chinese-firms-face-pressure-ai-investments-us-peers-spending-keeps-soaring?utm_source=rss_feed Thu, 30 Apr 2026 14:30:09 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers snapped up most of the new flats released on Thursday, with developers beginning to ramp up new construction amid sustained housing demand. All 120 units at the One Victoria Cove I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development and Empire Group, were sold by 5.20pm, according to agents. Meanwhile, New World Development (NWD) and MTR Corp’s Pavilia Farm III above Tai Wai MTR station found buyers for 19 of the 45 units as of 6.50pm. Most recent... https://www.scmp.com/business/article/3352063/hong-kong-homebuyers-flock-new-launches-flats-sell-out-swiftly?utm_source=rss_feed https://www.scmp.com/business/article/3352063/hong-kong-homebuyers-flock-new-launches-flats-sell-out-swiftly?utm_source=rss_feed Thu, 30 Apr 2026 12:35:13 +0000 Ann Cao Ann Cao Samsung Electronics and SK Hynix, South Korea’s two memory chip giants, are warning of a prolonged and severe global supply crunch, weeks after the two companies disclosed increased investments in their China wafer fabs to meet surging artificial intelligence demand. During Samsung’s first-quarter earnings call on Thursday, the company said its order fulfilment rate had plunged to a “record low”. In a rare move, customers worried about shortages were already pre-booking memory capacity for 2027,... https://www.scmp.com/tech/big-tech/article/3352001/samsung-sk-hynix-flag-record-supply-squeeze-memory-market-ai-demand-soars?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3352001/samsung-sk-hynix-flag-record-supply-squeeze-memory-market-ai-demand-soars?utm_source=rss_feed Thu, 30 Apr 2026 08:30:28 +0000 Cheryl Arcibal Cheryl Arcibal Non-local residents in Shenzhen can now buy property in some of the city’s core districts after the local housing authority eased restrictions and raised home-loan caps, a move likely to further improve the real estate prospects of mainland China’s top tech powerhouse. Those holding a valid residence permit can buy one residential unit in Futian and Nanshan districts, and Xinan in Baoan district, without having to pay social security or individual tax for a year. The rules came into effect on... https://www.scmp.com/business/article/3351968/chinas-top-tech-hub-shenzhen-eases-homebuying-curbs-raises-loan-caps?utm_source=rss_feed https://www.scmp.com/business/article/3351968/chinas-top-tech-hub-shenzhen-eases-homebuying-curbs-raises-loan-caps?utm_source=rss_feed Thu, 30 Apr 2026 08:00:08 +0000 Yulu Ao Yulu Ao China’s largest state-owned banks delivered stronger-than-expected first-quarter earnings, with rising interest income and steady asset quality pointing to improving credit demand as Beijing ramps up support for key sectors of the economy. The Big Four lenders – Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Agricultural Bank of China (ABC) and Bank of China (BOC) – all reported growth in both revenue and net profit, marking a turnaround from the margin pressure... https://www.scmp.com/business/china-business/article/3351965/chinas-big-four-banks-post-stronger-earnings-policy-lending-lifts-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351965/chinas-big-four-banks-post-stronger-earnings-policy-lending-lifts-growth?utm_source=rss_feed Thu, 30 Apr 2026 07:00:09 +0000 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 He Huifeng He Huifeng China is bracing for a record surge in cross-regional travel over the coming Labour Day holiday, as the country’s tourism sector continues to see strong demand amid government efforts to boost consumption. The domestic transport network is projected to handle 1.52 billion cross-regional trips – about 304 million trips per day – over the five-day public holiday, up 4 per cent compared with the same period last year, the Ministry of Transport announced on Tuesday. Public transport passenger flows... https://www.scmp.com/economy/china-economy/article/3351841/china-braces-record-labour-day-travel-surge-tourism-demand-remains-robust?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351841/china-braces-record-labour-day-travel-surge-tourism-demand-remains-robust?utm_source=rss_feed Thu, 30 Apr 2026 01:00:11 +0000 Themis Qi Themis Qi Geely Automobile Holdings, Chery Automobile and BYD, the most profitable listed Chinese carmakers last year, all reported double-digit declines in net profit in the first quarter, highlighting a squeeze at home amid reduced purchase incentives. Hangzhou-based Geely, the country’s second-largest carmaker behind BYD, said in a filing on Wednesday that its net profit for the January-March period slid 27 per cent year on year to 4.17 billion yuan (US$610 million). The profit slump came even as... https://www.scmp.com/business/china-evs/article/3351886/geely-joins-chery-byd-profit-slide-reduced-incentives-decimate-china-car-sales?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3351886/geely-joins-chery-byd-profit-slide-reduced-incentives-decimate-china-car-sales?utm_source=rss_feed Thu, 30 Apr 2026 00:30:08 +0000 Enoch Yiu Enoch Yiu Hong Kong’s monetary authority warned of interest-rate uncertainty amid ongoing tensions in the Middle East, after leaving its base rate unchanged on Thursday in tandem with the US Federal Reserve. The Hong Kong Monetary Authority (HKMA) said US interest-rate movements were affected by the Middle East tensions, which had led to higher oil prices and affected US inflation. Analysts said the inflationary impact of the US-Israel war with Iran had reduced the chances of a rate cut this year. “The... https://www.scmp.com/business/banking-finance/article/3351921/hkma-holds-base-interest-rate-4-following-fed-war-inflation-worries-persist?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351921/hkma-holds-base-interest-rate-4-following-fed-war-inflation-worries-persist?utm_source=rss_feed Wed, 29 Apr 2026 23:27:32 +0000 Advertising partner Advertising partner [The content of this article has been produced by our advertising partner.] At present, the global wave of AI technological innovation and the computing industry revolution is surging forward, driving explosive growth in data center construction and the demand for high-end hardware. As the “skeleton and nerves” of electronic products, printed circuit boards (PCBs) have already become the core components that determine the performance ceiling of AI computing equipment. The industry is currently... https://www.scmp.com/presented/business/topics/vgt-steady-growth-26q1-results/article/3351790/capitalizing-ai-computing-industry-upgrade-boom-victory-giant-technology-achieves-steady-start-q1?utm_source=rss_feed https://www.scmp.com/presented/business/topics/vgt-steady-growth-26q1-results/article/3351790/capitalizing-ai-computing-industry-upgrade-boom-victory-giant-technology-achieves-steady-start-q1?utm_source=rss_feed Wed, 29 Apr 2026 16:00:14 +0000 Xinmei Shen Xinmei Shen Cambricon Technologies, dubbed “China’s little Nvidia,” on Thursday became the costliest stock in mainland China’s equities market after it reported substantial growth in the first quarter amid an artificial intelligence boom and China’s tech self-sufficiency push. Cambricon shares rose as much as 18 per cent to nearly 1,680 yuan (US$245) on Thursday, beating optical chipmaker Yuanjie Semiconductor Technology, which traded at around 1,660 yuan. On Wednesday, Cambricon announced a 160 per cent... https://www.scmp.com/tech/article/3351894/revenue-jumps-chinas-cambricon-metax-amid-thirst-domestic-ai-chips?utm_source=rss_feed https://www.scmp.com/tech/article/3351894/revenue-jumps-chinas-cambricon-metax-amid-thirst-domestic-ai-chips?utm_source=rss_feed Wed, 29 Apr 2026 13:15:23 +0000 Coco Feng Coco Feng The impact of sky-high costs for memory chips is spreading from smartphones to cars, as China’s electric vehicle (EV) king BYD announced a 21 per cent price increase for its high-end driver-assistance system. Starting on Friday, the price of the optional DiPilot 300 assisted-driving system would rise to 12,000 yuan ($1,757) from 9,900 yuan, BYD said on Tuesday, attributing the decision to “the sharp rise in global storage hardware costs”. The system, which allows cars to navigate themselves on... https://www.scmp.com/tech/article/3351842/hit-memory-costs-spreads-phones-evs-chinas-byd-raises-driving-tech-price?utm_source=rss_feed https://www.scmp.com/tech/article/3351842/hit-memory-costs-spreads-phones-evs-chinas-byd-raises-driving-tech-price?utm_source=rss_feed Wed, 29 Apr 2026 12:30:11 +0000 Peggy Ye Peggy Ye A top-floor residence at High Peak in Hong Kong’s Mid-Levels West neighbourhood has sold for HK$420 million (US$53.7 million) as activity in Hong Kong’s high-end housing segment remains heated after a strong first quarter. The penthouse unit at 23 Po Shan Road sold to a company called Shine Action on April 8, Land Registry records showed. The buyer is believed to be a mainland resident, based on the name of Shine Action’s director in the Companies Registry, Zheng Jiang. Momentum at the pinnacle... https://www.scmp.com/business/article/3351873/hong-kong-penthouse-sells-us54m-mainland-chinese-buyer-luxury-demand-spikes?utm_source=rss_feed https://www.scmp.com/business/article/3351873/hong-kong-penthouse-sells-us54m-mainland-chinese-buyer-luxury-demand-spikes?utm_source=rss_feed Wed, 29 Apr 2026 11:30:11 +0000 Themis Qi Themis Qi Airport Authority Hong Kong (AAHK) has issued HK$19 billion (US$2.4 billion) of multi-tranche senior notes, the largest Hong Kong dollar-denominated bond offering to date, drawing nearly three times oversubscription. The success of the offering reinforces the Hong Kong dollar’s position as a reliable funding currency and the city’s role as a fixed income and currency hub, according to bankers. The notes were “well received” by investors including sovereign wealth funds, asset managers,... https://www.scmp.com/business/banking-finance/article/3351882/hong-kong-airport-authority-issues-record-hk19b-bond-issue-amid-strong-investor-demand?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351882/hong-kong-airport-authority-issues-record-hk19b-bond-issue-amid-strong-investor-demand?utm_source=rss_feed Wed, 29 Apr 2026 11:28:06 +0000 Zhang Shidong Zhang Shidong China has appointed a senior sovereign wealth fund executive as a deputy head of its securities regulator, in the latest leadership reshuffle aimed at steadying the country’s capital markets. Liu Haoling was named vice-chairman of the China Securities Regulatory Commission (CSRC) by the State Council, according to a statement posted on the agency’s website on Wednesday. He was also appointed to the regulator’s Communist Party committee. It was not immediately clear which portfolios Liu would... https://www.scmp.com/business/china-business/article/3351878/china-names-liu-haoling-csrc-deputy-amid-market-stabilisation-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351878/china-names-liu-haoling-csrc-deputy-amid-market-stabilisation-push?utm_source=rss_feed Wed, 29 Apr 2026 11:09:46 +0000 Zhu Wenqian Zhu Wenqian Multinational furniture retailer Ikea says it will open its first small-format store in Beijing on Thursday, aiming at convenience and efficiency that analysts believe could lift footfall by bringing the brand closer to consumers amid shifting trends. The move comes after the company shut seven large outlets across mainland China in early February, as it grapples with the country’s rapidly changing consumer trends and declining demand for new-home furnishing amid a sluggish property... https://www.scmp.com/business/china-business/article/3351870/ikea-open-first-small-format-beijing-store-tap-chinas-changing-consumer-trends?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351870/ikea-open-first-small-format-beijing-store-tap-chinas-changing-consumer-trends?utm_source=rss_feed Wed, 29 Apr 2026 10:30:20 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma BYD and Geely Auto, vying to be China’s biggest carmaker, both rose in Hong Kong stock trading as higher exports offset concerns about domestic price competition. Electric-vehicle giant BYD climbed 4.4 per cent on Wednesday even after reporting a 55 per cent drop in first-quarter net income to 4.09 billion yuan (US$590 million), the lowest quarterly profit in three years. Geely gained 2.6 per cent, overcoming a 27 per cent decline in earnings to 4.2 billion yuan. BYD sold 46 per cent of its... https://www.scmp.com/plus/business/china-evs/article/3351847/byd-geely-tap-global-ev-demand-escape-china-price-wars?utm_source=rss_feed https://www.scmp.com/plus/business/china-evs/article/3351847/byd-geely-tap-global-ev-demand-escape-china-price-wars?utm_source=rss_feed Wed, 29 Apr 2026 09:13:34 +0000 Enoch Yiu Enoch Yiu Financial officials from Hong Kong and mainland China met on Tuesday to discuss strengthening cross-border connect schemes, according to a statement from the State Administration of Foreign Exchange (SAFE). The meeting between Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man and People’s Bank of China (PBOC) deputy governor Zhu Hexin, who is also SAFE administrator, touched on ways to bolster the city’s role as an international financial centre, the statement said. SAFE... https://www.scmp.com/business/banking-finance/article/3351828/hong-kong-mainland-china-officials-meet-bolster-cross-border-connect-schemes?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351828/hong-kong-mainland-china-officials-meet-bolster-cross-border-connect-schemes?utm_source=rss_feed Wed, 29 Apr 2026 08:33:05 +0000 SCMP SCMP We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. China’s EV and battery makers race to cut charging times to under 10 minutes Battery makers and electric vehicle (EV) manufacturers have seized on the Beijing Auto Show to showcase technologies promising shorter charging times in a race triggered by BYD and Contemporary Amperex... https://www.scmp.com/business/china-evs/article/3351815/chinas-ev-makers-cut-charging-times-tesla-rival-li-autos-expansion-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3351815/chinas-ev-makers-cut-charging-times-tesla-rival-li-autos-expansion-7-ev-reads?utm_source=rss_feed Wed, 29 Apr 2026 07:30:08 +0000 Enoch Yiu Enoch Yiu Hong Kong Exchanges and Clearing (HKEX), operator of Asia’s third-largest stock market, reported a record quarterly profit in the first three months of 2026, buoyed by more new listings and increased turnover. Net profit rose 27 per cent to HK$5.19 billion (US$662 million) – or HK$4.10 per share – from a year earlier, the company said on Wednesday. The result beat the HK$4.6 billion consensus among analysts. It is the highest quarterly profit on record, surpassing the HK$4.9 billion in the third... https://www.scmp.com/business/banking-finance/article/3351801/hkex-posts-record-quarterly-profit-topping-forecast-listings-and-turnover-surge?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351801/hkex-posts-record-quarterly-profit-topping-forecast-listings-and-turnover-surge?utm_source=rss_feed Wed, 29 Apr 2026 05:50:25 +0000 Zhang Shidong Zhang Shidong Chinese oil producers have seen market gains after two of the country’s major players reported stronger first-quarter earnings, buoyed by a surge in crude prices. Shares of China Petroleum and Chemical Corp, also known as Sinopec, rose 2.4 per cent to HK$4.70 in Hong Kong, while its Shanghai-listed stock gained 1.3 per cent to 5.42 yuan. China National Overseas Oil Corporation (CNOOC) climbed 1.4 per cent to HK$29.38 and PetroChina rallied 2.7 per cent to HK$11.98. Oil stocks have been in focus... https://www.scmp.com/business/china-business/article/3351788/china-oil-stocks-rise-crude-rally-lifts-sinopec-cnooc-earnings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351788/china-oil-stocks-rise-crude-rally-lifts-sinopec-cnooc-earnings?utm_source=rss_feed Wed, 29 Apr 2026 04:28:37 +0000 Yulu Ao Yulu Ao China Resources Power (CRP), one of the largest mainland power producers listed in Hong Kong, has received approval to spin off its renewable energy arm for a separate listing in Shenzhen, marking a key step in a years-long plan to tap capital markets amid strong demand for new energy. The Shenzhen Stock Exchange’s listing committee approved the proposed A-share offering of China Resources New Energy Holdings on April 28, according to a filing by CRP. The deal, however, still required... https://www.scmp.com/business/banking-finance/article/3351785/china-resources-power-wins-shenzhen-nod-renewable-energy-units-listing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351785/china-resources-power-wins-shenzhen-nod-renewable-energy-units-listing?utm_source=rss_feed Wed, 29 Apr 2026 04:15:10 +0000 Advertising partner Advertising partner [The content of this article has been produced by our advertising partner.] Market swings have made one thing plain for investors in Hong Kong. Having access to information is no longer the problem. Making sense of it is.  From the ongoing tensions in the Middle East and the resulting pressure on oil supply chains and energy prices, to the surge of optimism and anxiety around AI, markets are being pulled in different directions at once. Added to that mix are interest rate moves, geopolitical... https://www.scmp.com/presented/business/topics/discipline-over-market-noise/article/3349836/making-sense-noise?utm_source=rss_feed https://www.scmp.com/presented/business/topics/discipline-over-market-noise/article/3349836/making-sense-noise?utm_source=rss_feed Wed, 29 Apr 2026 03:32:25 +0000 Peggy Ye Peggy Ye A wave of demand from mainland Chinese buyers is restoring liquidity to Hong Kong’s trophy home market, enabling owners who have held onto pricey assets for many years to lock in gains. Among them, mainland property tycoon Zhao Zhijun sold two adjoining units at 8-12 Peak Road for a combined HK$320 million (US$40.8 million), according to Land Registry records, generating a gain of about 86 per cent compared with the purchase price 16 years ago. Zhao, chairman of mainland investment firm Niverse,... https://www.scmp.com/business/banking-finance/article/3351736/pair-hong-kong-luxury-homes-sells-us41m-market-sizzle-increases?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351736/pair-hong-kong-luxury-homes-sells-us41m-market-sizzle-increases?utm_source=rss_feed Tue, 28 Apr 2026 23:00:09 +0000 Coco Feng,Wency Chen,Vincent Chow Coco Feng,Wency Chen,Vincent Chow It could be “time-consuming”, “complex” and “difficult” for Meta Platforms to unwind its acquisition of Manus, an artificial intelligence start-up that originated in China, given how far the deal has gone, according to analysts. Beijing’s order on Monday blocking the US$2 billion deal came roughly four months after the acquisition was announced. During that time, Manus – developer of what it described as the world’s first general AI agent – provided Meta employees with unlimited-usage accounts,... https://www.scmp.com/tech/article/3351718/meta-manus-ai-deal-difficult-undo-how-will-beijing-exert-its-authority?utm_source=rss_feed https://www.scmp.com/tech/article/3351718/meta-manus-ai-deal-difficult-undo-how-will-beijing-exert-its-authority?utm_source=rss_feed Tue, 28 Apr 2026 14:30:09 +0000 Themis Qi Themis Qi Chinese industrial robot maker Shenzhen Inovance Technology submitted an initial public offering (IPO) application in Hong Kong on Tuesday, joining a wave of mainland tech firms seeking capital from international investors. Founded in 2003, Inovance is seen as a cornerstone of China’s industrial automation sector. The company’s shares, listed on the Shenzhen Stock Exchange since 2010, closed at 61.36 yuan on Tuesday, giving it a market capitalisation of nearly 175.3 billion yuan (US$25.6... https://www.scmp.com/news/china-future-tech/robotics/article/3351738/chinese-industrial-robot-maker-inovance-joins-hong-kong-ipo-queue?utm_source=rss_feed https://www.scmp.com/news/china-future-tech/robotics/article/3351738/chinese-industrial-robot-maker-inovance-joins-hong-kong-ipo-queue?utm_source=rss_feed Tue, 28 Apr 2026 12:30:19 +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 Vincent Chow,Minxiao Chang Vincent Chow,Minxiao Chang The potential emergence of a new DeepSeek spokesman has sparked intrigue as speculation over the whereabouts of founder and CEO Liang Wenfeng continues, more than a year after his last public appearance. While the Hangzhou start-up’s latest V4 model did not make the same waves as its breakout moment a year earlier, the much-anticipated release still grabbed headlines through a collaboration with domestic tech giant Huawei Technologies and its remarkably low prices. For the traditionally... https://www.scmp.com/tech/big-tech/article/3351700/deepseek-mystery-who-speaking-start-ceo-liang-wenfeng-remains-out-sight?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3351700/deepseek-mystery-who-speaking-start-ceo-liang-wenfeng-remains-out-sight?utm_source=rss_feed Tue, 28 Apr 2026 11:00:15 +0000 Themis Qi Themis Qi Battery makers and electric vehicle (EV) manufacturers have seized on the Beijing Auto Show to showcase technologies promising shorter charging times in a race triggered by BYD and Contemporary Amperex Technology Ltd (CATL). Fast-charging technology has dominated the floor at the 10-day event which runs until May 3. Second-tier Chinese battery suppliers including CALB Group, EVE Energy and Sunwoda unveiled products capable of boosting power to 70 per cent, from a starting point of 10 per cent,... https://www.scmp.com/business/china-evs/article/3351662/need-speed-chinas-ev-battery-makers-race-cut-charging-times-under-10-minutes?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3351662/need-speed-chinas-ev-battery-makers-race-cut-charging-times-under-10-minutes?utm_source=rss_feed Tue, 28 Apr 2026 10:00:16 +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 Cheryl Arcibal Cheryl Arcibal Hong Kong’s lived-in home prices jumped 1.4 per cent to a 28-month high in March, according to the latest official data on Tuesday, with the property market remaining resilient despite uncertainties created by the US-Israel war on Iran. The widely watched index released by the Rating and Valuation Department (RVD) stood at 312.8 last month, the highest since 315.6 in November 2023. The increase reflected a sustained recovery that began 11 months ago, showing a cumulative price gain of nearly 9.2... https://www.scmp.com/business/article/3351644/hong-kong-home-prices-rise-higher-march-rents-peak-fifth-month-straight?utm_source=rss_feed https://www.scmp.com/business/article/3351644/hong-kong-home-prices-rise-higher-march-rents-peak-fifth-month-straight?utm_source=rss_feed Tue, 28 Apr 2026 04:38:44 +0000 Ann Cao Ann Cao Lightelligence, the first mainland Chinese photonics chipmaker to go public in Hong Kong, saw its share price surge by nearly 400 per cent in its trading debut on Tuesday, as investors banked on the country’s quest for a fast-growing alternative to conventional electronic semiconductors in artificial intelligence data centres. The Shanghai-based company opened at HK$880, versus the offer price of HK$183.20 – the top of its marketed range of HK$166.60 to HK$183.20. It raised HK$2.4 billion... https://www.scmp.com/tech/tech-trends/article/3351551/lightelligence-jumps-hong-kong-debut-amid-ai-driven-demand-photonics-chips?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3351551/lightelligence-jumps-hong-kong-debut-amid-ai-driven-demand-photonics-chips?utm_source=rss_feed Tue, 28 Apr 2026 02:03:55 +0000 Zhang Shidong Zhang Shidong Shares of Contemporary Amperex Technology Ltd (CATL) tumbled in Hong Kong on Tuesday following the announcement of a plan to raise HK$39.2 billion (US$5 billion) from a share placement to fund expansion of its renewables business amid a global oil crunch. The world’s largest manufacturer of batteries for electric vehicles and energy storage slumped 6.9 per cent to close at HK$629, the steepest decline since October 10, 2025. The company’s yuan-denominated shares held up relatively well, slipping... https://www.scmp.com/business/china-business/article/3351629/catl-plans-raise-us5-billion-private-placement-fund-renewables-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351629/catl-plans-raise-us5-billion-private-placement-fund-renewables-expansion?utm_source=rss_feed Tue, 28 Apr 2026 01:42:18 +0000 Zhu Wenqian Zhu Wenqian British industrial conglomerate Rolls-Royce is strengthening its presence in China via a newly launched engine maintenance joint venture with Air China, as domestic demand for commercial air travel grows. The joint venture, Beijing Aero Engine Services (BAESL), which became operational in December, provides engine maintenance services for Chinese airlines. The company said it planned to leverage this partnership to serve overseas carriers in future. “China is an important market for Rolls-Royce,... https://www.scmp.com/business/companies/article/3351594/rolls-royce-boosts-china-presence-engine-maintenance-venture?utm_source=rss_feed https://www.scmp.com/business/companies/article/3351594/rolls-royce-boosts-china-presence-engine-maintenance-venture?utm_source=rss_feed Mon, 27 Apr 2026 23:30:08 +0000 Themis Qi Themis Qi Alibaba Group Holding gained approval from the Hong Kong stock exchange to proceed with a proposed spin-off of a warehouse park in mainland China, two years after the tech giant withdrew the listing plan of its logistics arm Cainiao. The e-commerce giant said it could separate an infrastructure real estate investment trust (Reit) and list it on the Shenzhen Stock Exchange, with the underlying asset being the Jiaxing Park, a logistics and warehousing infrastructure hub in eastern China’s Zhejiang... https://www.scmp.com/business/markets/article/3351610/alibaba-gets-approval-spin-warehouse-park-reit-pivot-logistics-assets?utm_source=rss_feed https://www.scmp.com/business/markets/article/3351610/alibaba-gets-approval-spin-warehouse-park-reit-pivot-logistics-assets?utm_source=rss_feed Mon, 27 Apr 2026 14:32:43 +0000 Xinmei Shen Xinmei Shen Chinese optical chipmaker Yuanjie Semiconductor Technology reported an elevenfold surge in first-quarter profits as domestic firms capitalise on soaring demand for computing power amid the artificial intelligence boom and the country’s tech self-sufficiency drive. Net profit in the three months ended March 31 jumped 1,153 per cent year on year to 179 million yuan (US$26.2 million), while revenue grew 321 per cent to 355 million yuan, the Shanghai-listed company said in a stock-exchange filing on... https://www.scmp.com/tech/tech-trends/article/3351605/optical-chipmakers-profit-soars-1153-ai-demand-chinas-tech-self-reliance-push?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3351605/optical-chipmakers-profit-soars-1153-ai-demand-chinas-tech-self-reliance-push?utm_source=rss_feed Mon, 27 Apr 2026 14:00:35 +0000 Ben Jiang Ben Jiang Chinese robotaxi firms from Pony AI to WeRide are accelerating global roll-outs of commercial fleets, leveraging cost competitiveness from the country’s world-leading new energy vehicle (NEV) supply chain and improved operational efficiency, company executives have said. China’s NEV supply chain had helped reduce the total cost of Pony AI’s upgraded seventh-generation robotaxi – including the base vehicle, battery and autonomous driving kit – to below 230,000 yuan (US$33,700), making it cheaper... https://www.scmp.com/tech/tech-trends/article/3351581/chinese-robotaxi-firms-accelerate-global-roll-outs-cost-edge-drives-expansion?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3351581/chinese-robotaxi-firms-accelerate-global-roll-outs-cost-edge-drives-expansion?utm_source=rss_feed Mon, 27 Apr 2026 13:30:09 +0000 Daniel Ren Daniel Ren Contemporary Amperex Technology Ltd (CATL) has taken a leap forward in commercialising sodium-ion batteries, signing a large supply contract with an energy-storage system (ESS) provider amid high demand for power infrastructure after the global oil shock. The world’s largest electric vehicle (EV) and ESS battery maker announced on Monday that it would deliver 60 gigawatt-hours (GWh) of sodium-ion batteries to Beijing HyperStrong Technology over three years in a landmark deal for the new battery... https://www.scmp.com/business/china-business/article/3351601/chinas-catl-touts-landmark-order-deepseek-moment-sodium-ion-batteries?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351601/chinas-catl-touts-landmark-order-deepseek-moment-sodium-ion-batteries?utm_source=rss_feed Mon, 27 Apr 2026 13:16:17 +0000 Themis Qi Themis Qi China’s drug maker WuXi AppTec reported record first-quarter revenue, as a robust order backlog and sustained demand from global pharmaceutical companies supported growth. For the three months ended March 31, the Shanghai- and Hong Kong-listed company posted revenue of 12.44 billion yuan (US$1.72 billion), up 28.81 per cent year on year, according to a filing released on Monday. Net profit climbed nearly 27 per cent to 4.65 billion yuan in the quarter. Both revenue and net profit exceeded market... https://www.scmp.com/business/china-business/article/3351591/wuxi-apptec-posts-record-first-quarter-revenue-strong-global-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351591/wuxi-apptec-posts-record-first-quarter-revenue-strong-global-demand?utm_source=rss_feed Mon, 27 Apr 2026 11:30:12 +0000 Zhu Wenqian Zhu Wenqian Chinese toymaker Pop Mart continues to leverage the popularity of its collectibles as it launches two limited-edition Labubu-themed mini-refrigerators on Thursday. Capped at 999 units for each design, the appliances are in high demand, with second-hand resale prices on online platforms up to 80 per cent higher than the original retail price. The two designs, both from The Monsters series, were priced at 5,999 yuan (US$878) each, and they would be available for sale at 10pm on April 30 on... https://www.scmp.com/business/companies/article/3351578/pop-mart-comes-cool-idea-red-hot-labubu-mini-fridges?utm_source=rss_feed https://www.scmp.com/business/companies/article/3351578/pop-mart-comes-cool-idea-red-hot-labubu-mini-fridges?utm_source=rss_feed Mon, 27 Apr 2026 10:15:11 +0000 Zhang Shidong Zhang Shidong The long-anticipated state visit by US President Donald Trump to China next month could lift sentiment in mainland and Hong Kong equities, as investors bet that easing tensions between Beijing and Washington will support export-driven sectors and companies pursuing overseas expansion. Trump is scheduled to meet President Xi Jinping on May 14-15, with discussions expected to cover tariffs, purchases of US goods and restrictions on rare earths. Any progress could clear a path for Chinese firms to... https://www.scmp.com/business/china-business/article/3351566/china-equities-set-boost-trump-xi-meeting-raises-hopes-thaw?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351566/china-equities-set-boost-trump-xi-meeting-raises-hopes-thaw?utm_source=rss_feed Mon, 27 Apr 2026 09:30:10 +0000 Yulu Ao Yulu Ao China’s solar giant Sungrow Power Supply has filed a fresh application to list in Hong Kong, reviving plans initiated last year, as a wave of mainland companies seeks offshore funding to support overseas expansion. The Shenzhen-listed solar inverter and energy storage system maker submitted its latest application proof to the Hong Kong stock exchange after an earlier filing in October lapsed, according to exchange disclosures late on Friday. Sungrow, one of the world’s largest suppliers of... https://www.scmp.com/business/china-business/article/3351515/chinas-solar-giant-sungrow-revives-hong-kong-ipo-plan-amid-rising-demand-clean-energy?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351515/chinas-solar-giant-sungrow-revives-hong-kong-ipo-plan-amid-rising-demand-clean-energy?utm_source=rss_feed Mon, 27 Apr 2026 03:55:24 +0000 Themis Qi Themis Qi China’s recycling platform Zhuanzhuan is preparing to expand into Europe and the US by the end of the year, betting that demand for second-hand goods will continue to rise amid economic uncertainty despite geopolitical tensions. Backed by tech giants Tencent Holdings and Xiaomi, the Beijing-based company plans to export its model – which combines advanced quality inspection technology with door-to-door services – to get a slice of overseas markets. A dedicated international website was expected... https://www.scmp.com/business/china-business/article/3351394/turning-cast-offs-cash-chinas-zhuanzhuan-looks-europe-and-us-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351394/turning-cast-offs-cash-chinas-zhuanzhuan-looks-europe-and-us-growth?utm_source=rss_feed Mon, 27 Apr 2026 01:00:32 +0000 Iris Deng Iris Deng Shares of Moore Threads, one of China’s Nvidia challengers, jumped as much as 12.5 per cent on Monday morning on the back of a swing to a profit in the first quarter, as domestic graphics processing unit (GPU) champions capitalised on surging computing demand amid Beijing’s push for chip self-sufficiency. The Beijing-based firm reported a net profit of 29.4 million yuan (US$4.3 million) for the January to March 2026 period, compared with a net loss of 112.5 million yuan a year earlier, according... https://www.scmp.com/tech/article/3351492/moore-threads-posts-us43m-profit-nvidia-rival-surges-amid-beijing-chip-push?utm_source=rss_feed https://www.scmp.com/tech/article/3351492/moore-threads-posts-us43m-profit-nvidia-rival-surges-amid-beijing-chip-push?utm_source=rss_feed Mon, 27 Apr 2026 01:00:13 +0000