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Hong Kong company reporting season

Hong Kong company reporting season
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
MiniMax looks to capitalise on exploding interest in agentic AI products this year. Photo: Shutterstock
Artificial intelligence

Hong Kong-listed AI firm MiniMax’s revenue jumps 159% on strong demand

Shanghai-based company predicts revenue will double this year, based on strong user growth for its M2.5 model.

Hong Kong property

SHKP, Hong Kong’s bellwether developer, posts 36% jump in first-half net profit

Banking & finance

HSBC to boost spending in Hong Kong, other high-growth markets to US$1.8 billion

Banking & finance

Standard Chartered’s 2025 profit jumps 16% buoyed by wealth management growth

The London-based bank’s underlying pre-tax profit stood at US$7.9 billion last year, versus a gain of US$6.8 billion in 2024.

Standard Chartered Bank is one of Hong Kong’s three note-issuing banks. Photo: Nathan Tsui
Meituan

Meituan warns of US$3.5 billion loss amid intense food delivery price war

Food delivery giant expects losses to continue into at least the first quarter of 2026 ‘due to ongoing competition’.

Banking & finance

China’s property woes likely to hurt some Hong Kong banks’ 2025 earnings: Citi

Bank of China (Hong Kong) and Bank of East Asia could be affected the most as they have the highest exposure to China’s property sector.

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Alibaba

Alibaba to lead AI capital spending among Chinese firms amid strong demand

The group’s intention to boost AI-related capital outlay reflects its aim to spearhead China’s efforts in the race for global AI leadership.

Alibaba Cloud continues to grow demand for its open-source Qwen AI model family. Photo: Shutterstock
Hong Kong economy

Opinion | Why this is not just another retail downturn for Hong Kong

When even Link Reit, the city’s largest retail landlord, is cutting dividends, the downturn looks less like a dip than a shift.

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Consumers

Hong Kong beverage giant Vitasoy’s revenue dips 6% as mainland China sales slow

Maker of tea drinks and soy milk says consumption potential is strong despite intensifying competition in mainland China.

Alibaba

Alibaba posts 5% rise in quarterly revenue on AI, cloud momentum

‘We have entered into an investment phase to build long-term strategic value in AI technologies and infrastructure,’ CEO Eddie Wu Yongming says.

Hong Kong-listed shares of Alibaba gained 2.14 per cent to close at HK$157.80 ahead of its earnings release. Photo: Shutterstock
Baidu

China’s Baidu posts 50% rise in AI revenue despite third-quarter slump

In spite of sluggish advertising, AI operations provide ‘a solid foundation for sustainable long-term growth’, Baidu CFO He Haijian says.

Revenue at Baidu’s core online advertising business declined in the third quarter. Photo: Shutterstock
Mainland China

Geely’s third-quarter revenue and profit soar on surging EV sales on mainland

Carmaker posts a 27 per cent jump in revenue to 89 billion yuan (US$12.5 billion) and a 59 per cent increase in net profit to 3.8 billion yuan.

Tencent

Tencent posts 19% jump in third-quarter profit on AI gains, beating estimates

Shenzhen-based tech giant, which has been doubling down on its AI efforts, sees more than a 20 per cent jump in research and development efficiency.

Banking & finance

HKEX rides rising turnover and IPOs to post record profit of US$628 million

Third-quarter profit jumps 56 per cent from a year earlier to HK$4.9 billion (US$628 million), beating analysts’ estimate of HK$4.7 billion.

The HKEX has benefited from global investors switching to the relative safety of Hong Kong-listed stocks of mainland Chinese companies. Photo: Dickson Lee
China property

Developer China Vanke reports US$2.3 billion loss amid sales slowdown

Persistent property-market weakness ratchets up pressure on the developer despite increased support from its largest state-owned shareholder.

A man stands outside the construction site of a residential complex being built by Chinese real estate developer Vanke in Nanjing, in eastern China’s Jiangsu province, on February 13, 2025. Photo: AFP
BYD

BYD’s quarterly profit falls as weak China sales erode exports growth

Profit fell to US$1.1 billion in the September quarter amid slowing sales and price cuts in BYD’s home market.

Standard Chartered Bank

Standard Chartered’s profit rises on trade loans, wealth management

Net profit rose 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.

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Banking & finance

HSBC’s third-quarter profit dips amid falling rates, property slump

Lender takes US$1 billion of expected credit losses, including US$200 million tied to commercial real estate in Hong Kong.

Pedestrians and a tram pass the HSBC building in Central on July 30, 2025. Photo: Eugene Lee
Electric & new energy vehicles

China’s EV makers face uphill task to meet 2025 break-even target

From Nio to Xpeng and Zeekr, China’s EV start-ups have been reporting smaller second-quarter losses as discounts lured more buyers to battery-driven cars.

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China’s private sector

Burial blues: China’s funeral giant posts first loss in over a decade

The 31-year-old company attributes its US$36 million first-half net loss to weak demand.

Alibaba

Alibaba sees strong consumer mindshare in instant commerce push

Alibaba also expects its cloud computing business to remain on an upwards trajectory in the coming quarters, CEO Eddie Wu says.

Alibaba’s cloud computing unit was the company’s fastest-growing business segment in the June quarter. Photo: Shutterstock
Banking & finance

Profitability pressure grows for China’s state banks amid low rates

All six state banks, including ICBC and China Construction Bank, report lower margins alongside small reductions in bad loans.

The logo of Industrial and Commercial Bank of China is seen in Shanghai on March 1, 2023. Photo: Future Publishing via Getty Images
Huawei

Huawei’s first-half profit drops 32% as tech giant ploughs more money into R&D

Huawei did not offer an explanation for the profit decline, but said its first half expenditure for R&D rose 9 per cent.

Alibaba

Alibaba confident of winning instant commerce war as quarterly profit rises

Taobao Shangou reached a peak of 120 million daily orders, as instant commerce monthly active users climbed to 300 million.

Insurance

FWD profit jumps 15 times on sales spike, lower costs after Hong Kong IPO

Premiums from new life policies jumped 38 per cent to US$1.25 billion in the first half, while expenses dropped US$65 million.

Huynh Thanh Phong, group CEO and executive director of FWD, speaks at a press conference at Two Pacific Place in Admiralty on August 29, 2025. Photo: Edmond So
Hong Kong property

Sino Land profit falls due to lower rental income, falling occupancies

At the end of June, Sino Land had a land bank of about 18.9 million square feet of attributable floor area.

Potential buyers of units at Grand Mayfair, a Sino Land development in Yuen Long. Photo: Xiaomei Chen
China property

CR Land, Sunac post better interim results in signs of property recovery

China Resources Land’s interim profit rose 16.2 per cent to 11.9 billion yuan, while Sunac’s loss narrowed by 14.4 per cent.

Banking & finance

Chinese miner Zijin flags unprecedented global risks after posting record profit

The global competition for critical minerals could affect its revenue, profit and new overseas projects, Zijin says.

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