Category: M1
More Read Grid Section.
Huawei Sees Profit Jump 564%
Huawei Technologies’ net profit rose 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, according to a regulatory statement by its parent firm. [more…]
Tencent Q4 Results, Net Profit Up 44%
Tencent, the giant Chinese internet company, announced a 10% rise in revenue in 2023, bringing in a total of 609 billion yuan ($86 billion). The [more…]
Alibaba Cancels Cainiao Hong Kong IPO
Alibaba cancelled its intended Hong Kong initial public offering (IPO) for its logistics division, Cainiao. Alibaba intends to pay up to $3.75 billion for Caniao [more…]
Xiaomi Launches SU7 on March 28, Has More Than 100,000 Preorders
More than 100,000 reservations have been made for the SU7, the first electric car from Chinese manufacturer Xiaomi. Customer test drives of the car will [more…]
Alibaba Cuts Prices of Core Cloud Products by 55%
There is intensifying competition in China’s cloud computing market as several large Chinese competitors have announced price reductions on their primary offerings. Alibaba Cloud, the [more…]
New Yuan Bank Loans Hit Record High
Chinese banks granted a record number of new loans in January demonstrating Beijing’s attempts to stabilise development in the second-largest economy in the world. At [more…]
New Stock Market Stabilization Measures Discussed
Early on Tuesday, Chinese stocks surged as policymakers discussed a set of steps to steady the falling market. Authorities are attempting to raise roughly 2 trillion [more…]
Alibaba To Partially Sell Off Stake in XPeng
Alibaba’s Taobao China plans to sell 25 million shares of Xpeng’s American Depositary Shares (ADSs), worth about $391 million, following this news a 7.54 percent [more…]
SMIC and Huawei Make 5 nm Breakthrough
Despite US limitations, Semiconductor Manufacturing International Corporation (SMIC) may have broken through the 5nm manufacturing barrier by creating a chip for Huawei. The Chinese IT [more…]
PDD Holdings Earnings Beat Estimates by Nearly Double
PDD Holdings, an online retailer well-known for providing cheap prices on its Pinduoduo and Temu apps, announced a 94% increase in Q3 2023 revenue to [more…]
