AiHuiShou’s Q2 Revenue Rises 56%, Fueled by Growing Electronics Recycling Network
Company releases first ESG report alongside its maiden earnings, aiming to spotlight its role in achieving China’s carbon-reduction goals Key points: AiHuiShou posts 56% revenue growth in its latest reporting…
Harrods retreats from Shanghai as private colleges face degree of reckoning
British retailer Harrods is pulling out of China, just five years after launching its luxury lifestyle brand in the market. Why is it leaving, and are other luxury brands going to follow? And university campus operator XJ International has been selling assets as college education loses its luster. Why are less Chinese interested in such secondary education these days?
BRIEF: PICC shares sink on reports of executive’s detention
Shares of insurer PICC Property and Casualty Co. Ltd. (2328.HK) fell on Wednesday, after media reported its vice president Yu Ze was missing, and was like being investigated for corruption.…
Soul App files for IPO, riding early-mover status in AI-backed hunt for emotional satisfaction
The social platform plans to entice investors with the combination of its self-developed AI model, immersive social scenarios, and strong profitability Key Takeaways: Tencent-backed Soulgate, operator of the Soul App,…
BRIEF: JingdongIndustrials launches $420 million Hong Kong IPO
Jingdong Industrials Inc. (7618.HK), the industrial supply chain services arm of JD.com (9618.HK; JD.US), launched its Hong Kong IPOon Wednesday, offering 211 million shares for HK$12.70 to HK$15.50 per share.…
GoFintech returns to the black, but sacrifices margins for big revenue jump
The provider of stock brokerage and other financial services’ revenue surged more than 40-fold in the first half of its fiscal year, but its gross profit margin plummeted Key Takeaways:…
BRIEF: Heavily oversubscribed Lemo soars on Hong Kong trading debut
Shares of massage chair operator Lemo Services Co. Ltd. (2359.HK) opened up 62% in their Hong Kong trading debut on Monday, and held on to most of the gains to close up…
After finding profits, Zhihu faces new questions from AI onslaught
The online knowledge community operator briefly achieved profitability in the first half of this year, but that momentum didn’t carry into the third quarter Key Takeaways: Zhihu reported its revenue…
