Hygiene products maker Hengan International Group Co. Ltd. (1044.HK) announced on Wednesday that its co-founder and executive Chairman Sze Man Bok passed away on Sept. 29. It did not give his age or a cause of his death.

Hengan noted that Sze had “devoted his full efforts” to directing the company until recently, but added the board believes his death won’t have any impact on operations. In another filing on Wednesday, it listed CEO Hui Ching Lau as its acting chairman.

Hengan, whose two main products are diapers and sanitary napkins, reported revenue of 11.1 billion yuan ($1.65 billion) for the first half of 2026, down 6.1% year-on-year. Its profit for the period fell 8.7% to 1.25 billion yuan.

The company’s stock rose 0.1% on Wednesday morning to close at HK$19.65 by the midday break. The stock is down about 30% this year.

By Doug Young

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Restaurant operator Haidilao International Holding Ltd. (6862.HK) said on Wednesday that its founder and Chairman Zhang Yong and his wife Shu Ping sold down their holdings in the company to raise cash for their own needs.

The pair, who owned about half of Haidilao’s shares before the sale, sold 259 million shares, equal to 4.65% of the company’s share capital, through a block trade at a price of HK$10.62 per share, according to the announcement. The actual shares were sold by ZY NP Ltd. and SP NP Ltd., which are both controlled by Zhang and Su.

Based on the information given, the share sale would have raised about HK$2.75 billion ($351 million). Following the sale, Zhang and Shu’s stake in the company dropped to about 45.5%, according to the announcement.

Haidilao’s stock fell 4.1% to close at HK$9.915 on Thursday. The stock is down about 30% this year.

By Doug Young

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Apparel brand JNBY Design Ltd. (3306.HK) on Wednesday reported its revenue rose 9% year-over-year to 6.05 billion yuan ($901 million) in its fiscal year through June 30, as its profit rose 11.7% to 997 million yuan. Its gross margin for the year stood at 66.6%, up by 1 percentage point from a year earlier.

JNBY's global retail network totaled 2,118 stores by the end of the latest fiscal year, a slight increase of one store from the previous year, while same-store sales grew 2.4% year-over-year. Revenue from its flagship JNBY brand rose 7.6% from a year earlier to 3.24 billion yuan.

Going forward, the company said it will further optimize its portfolio of designer brands and product categories through in-house incubation and acquisitions. Meanwhile, the company will keep leveraging an internet-driven mindset and AI technology to further bolster its retail networks both domestically and abroad.

Shares of JNBY opened up 7.2% at HK$21 on Thursday. The stock is down 8% from its 52-week high.

By Lau Chi Hang

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The company’s core e-commerce profits grew faster than its revenue, while its Gap China unit showed sales momentum and value as a strategic testing ground

By Da Cheung

Baozun Inc. (BZUN.US; 9991.HK) reported sharply improved profitability in the second quarter, as stronger earnings from its core e-commerce business and continued growth at its brand-management unit prompted the company to raise its long-term profit target.

The company’s revenue rose 7.5% year-on-year to 2.74 billion yuan ($404 million) for the three months through June, while its non-GAAP operating profit climbed to 74.3 million yuan from 6.1 million yuan a year earlier.

The improvement was led by Baozun’s traditional e-commerce business, as the unit’s adjusted operating profit for the quarter more than doubled to 107.1 million yuan from 41.1 million yuan year-on-year, its strongest second-quarter result since 2022. Its e-commerce revenue rose by a more modest 4.6% to 2.3 billion yuan.

Baozun said the gap between profit and revenue growth reflects efforts to scale back its lower-margin distribution business and focus more on higher-value services and products.

Meanwhile, its newer brand management business became a more important growth contributor, as revenue from the unit rose 21.9% to 485.6 million yuan, led largely by its Gap China operation.

Baozun took over Gap’s Greater China business after agreeing to acquire it in 2022, expanding beyond its core e-commerce services for brand partners to directly managing merchandise, inventory, stores and marketing.

Gap China’s omni-channel same-store sales grew in the 20% range for a second consecutive quarter in the three months to June. That compares with 6.7% growth in Chinese clothing retail sales in the first half of 2026, suggesting Gap’s recent momentum has outperformed the broader market.

Gap China’s profitability has also improved. It recorded its first quarterly non-GAAP operating profit in the fourth quarter of 2025 and remained profitable on the same basis in the first quarter of 2026. Management has also set a target of full-year operating breakeven for 2026, signaling confidence in the brand’s longer-term operating trajectory.

Baozun said it is increasingly using Gap as a testing ground for tools and operating methods that could also benefit its core e-commerce business. The company says the two businesses can reinforce each other, with e-commerce capabilities supporting brand operations and lessons from direct brand management feeding back into services for other clients.

Management also says early AI and automation pilots are improving productivity. Baozun recently raised its 2028 annual non-GAAP operating-profit target by more than 27%, from 550 million yuan to at least 700 million yuan, citing better e-commerce margins, greater operating leverage in brand management and deeper cooperation between the two units.

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Car sales in China fell 23.7% in August, as manufacturers continued to aggressively sell their vehicles abroad to offset the weakness at home. Chinese carmakers sold 1.55 million vehicles during the month domestically, Reuters reported, citing data published on Tuesday by the China Passenger Car Association.

Domestic sales of new energy vehicles (NEVs) fell 10.1% in August, accounting for 64.7% of cars sold domestically during the month.

Meanwhile, China’s passenger vehicle exports in August jumped 77.5% year-on-year to about 894,000 units, slowing from an 88.2% increase in July. Among major manufacturers, BYD (1211.HK; 002594.SZ) and Geely (0175.HK) both recorded record monthly car exports last month.

Chinese vehicle exports are expected to reach 12 million units this year, and continue growing to between 18 million and 20 million annually by 2030, according to the China Passenger Car Association.

By Doug Young

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Hong Kong wireless carrier SmarTone Telecommunications Holdings Ltd. (0315.HK) on Thursday announced its revenue rose 6% year-over-year to HK$6.6 billion ($846 million) in its fiscal year through June, while its profit climbed 10% to HK$525 million.

Revenue from services and other related segments declined, with average revenue per user (ARPU) for monthly mobile service plans slipping to HK$220 from HK$222 a year earlier. But rising handset and accessory sales offset the decline. Meanwhile, stringent cost controls and improving operational efficiencies helped drive down staff costs and other operating expenses by 8% and 4% year-over-year, respectively.

But the true driver behind the company's earnings growth didn’t stem from its core operations. Instead, it owed primarily to the absence of expected credit losses on financial assets at amortized cost, compared with a loss of HK$50 million in the prior year.

Shares of SmarTone opened down 0.2% at HK$4.80 on Friday. The stock is down about 10% from its 52-week high.

By Lau Chi Hang

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Yatsen Holding Ltd. (YSG.US) on Wednesday reported its revenue rose 5.1% year-on-year in the second quarter to 1.14 billion yuan ($170 million), as strong double-digit gains for its skincare products offset a sharp decline for its color cosmetics.

The company, which operates the Perfect Diary chain of stores in China, said sales of its skincare products jumped 40.4% to 816 million yuan in the three months to June, rising to 71.5% of total revenue from 53.5% a year earlier. But its color cosmetics sales fell 35.8% year-on-year, as it blamed heightened competition.

Despite the revenue gain, the company’s operating loss more than doubled on heavy marketing spending, which rose to 70.7% of revenue in the second quarter from 66.5% a year earlier. As that happened, the company’s net loss for the latest quarter also widened to 90.8 million yuan from a 19.5 million yuan loss a year earlier.

The company said it expects its revenue to fall between 0% and 10% year-on-year in the third quarter.

Yatsen’s shares fell 4.9% on Wednesday in New York after the announcement. The stock is down about 36% this year.

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Conglomerate Swire Pacific Ltd. (0019.HK) on Wednesday announced a placement of nearly 363 million shares of Cathay Pacific Airways (0293.HK) — representing 5.96% of the airline's issued shares — to raise HK$4.79 billion ($613 million). It said it will use the proceeds to repurchase bonds with a principal amount of HK$4.69 billion.

Originally slated to mature in 2027, the bonds will be repurchased at a price set at 109.08% of their principal amount, translating to a total redemption cost of HK$5.12 billion.

Swire set the placement price at HK$13.20 per share, representing a 7.7% discount to Cathay's Tuesday closing price of HK$14.30 and a 9.5% markdown from the five-day moving average of HK$14.58. Following the placement, Swire's equity stake in Cathay Pacific dropped to 39.15%.

The share placement is expected to yield HK$1.12 billion in gains for Swire, while the overall maneuver — pairing the placement with the bond buyback — is expected to generate a net profit of roughly HK$704 million for the conglomerate. Swire further pledged a 180-day lock-up period for its remaining holdings in the airline.

Cathay's stock retreated 1.14% on Wednesday to end the session at HK$13.88, while Swire closed flat at HK$105.90. Cathay Pacific edged up 0.14% when the market opened on Thursday, while Swire remained flat.

By Lau Chi Hang

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The Shenzhen-listed company is seeking to raise up to $800 million as its first-half profit surged by a factor of more than 700, fueled by spiking memory prices

By Teri Yu

Shenzhen Longsys Electronics Co. Ltd. (9976.HK; 301308.SZ) launched its Hong Kong IPO on Monday, seeking to raise up to HK$6.28 billion ($801 million) as it reported a record first-half profit on soaring memory chip prices. The company is offering 26.1 million shares for up to HK$240.60 each, giving Longsys an implied market value of up to HK$195 billion.

Longsys is part of a group of Chinese companies making second listings in Hong Kong to target the city’s international investor pool, in this case complementing its existing listing on China’s domestic market in Shenzhen. The company’s Shenzhen-listed shares are up around 50% so far this year, as investors have gravitated toward companies expected to benefit from global expanding AI infrastructure and broader semiconductor self-sufficiency drive.

Citic Securities and Citigroup are underwriting the deal. A group of cornerstone investors, including Lenovo and Ingenic Semiconductor, have agreed to buy 18.89% of the shares on offer. Subscriptions close on Thursday, with final pricing expected on Sept. 4, and a trading debut set for Sept. 8.

The IPO comes after a major earnings rebound for Longsys driven by higher memory prices from AI-related buying. Its revenue for the six months through June jumped 136.3% year-on-year to 24.09 billion yuan ($3.38 billion), while its net profit soared to 10.58 billion yuan from just 14 million yuan a year earlier, up by more than 700 times.

Longsys was founded in 1999 and listed on Shenzhen’s ChiNext board in 2022. The company has positioned itself as an independent branded memory-product maker with capabilities spanning controller-chip and memory-chip design, firmware algorithms, packaging and testing and sales. It markets its industrial and enterprise products under the Foresee brand, consumer storage under Lexar, and overseas industrial products through Zilia.

Longsys ranked ninth globally by 2025 storage-product revenue, and was second among independent memory makers, holding about 1.2% of the global memory-products market, according to third-party data cited in its listing document.

Enterprise storage, which offers Longsys a more direct route into AI infrastructure spending, was one of its fastest-growing businesses in the first half of this year. Revenue from the segment tripled year-on-year to 2.14 billion yuan, as its products entered the supply chains of several major internet companies and server manufacturers.

Its international operations also helped fuel the revenue expansion. Zilia generated 3.95 billion yuan in external sales in the first half of the year, up 184.6% year-on-year, while Lexar’s global sales revenue rose 84.9% to 3.97 billion yuan. Longsys generates nearly 70% of its revenue from outside Mainland China and serves customers including Dell, Lenovo, Mindray, Oppo, Samsung, Transsion and Xiaomi.

Longsys said production of its self-designed controller chips have exceeded 280 million cumulative units. Its 5-nanometer UFS 4.1 controller has entered large-scale production, while its newer storage processing unit chip supports NAND I/O speeds of up to 4,800 MT/s.

Longsys plans to use 78.3% of its IPO proceeds for R&D in chip design and advanced memory products. The balance will be used for capacity expansion at its plants in Suzhou and Brazil, and for global promotion of its Foresee, Lexar and Zilia brands, as well as potential strategic investments or acquisitions.

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Shares of online fashion retailer Shein Global Holdings Ltd. (0625.HK) opened flat in their highly anticipated Hong Kong trading debut on Tuesday, then traded down during the morning to close at HK$46.62 by the midday trading break, 4% below the offer price.

Shein sold nearly 280 million shares for HK$48.56 each, representing the middle of their indicated range of HK$47.60 and HK$49.50, to raise net proceeds of HK$13.21 billion ($1.69 billion). The retail tranche for local Hong Kong investors was oversubscribed by 4.63 times, while the international tranche was oversubscribed by 1.6 times. Seven cornerstone investors purchased 61.89 million shares, representing 22.1% of the total offering.

Shein was active in 160 global markets at the end of last year, boasting 273 million active customers. Its average order frequency per customer was four times, with an average fulfillment expense per order of $17.70.

The company’s revenue rose from $32.1 billion in 2023 to $41.84 billion last year. Its revenue rose 1.1% year-over-year in the first quarter of 2026 to $9.05 billion. But its profitability has been more volatile, rising from $2.79 billion in 2023 to $3.37 billion in 2024, only to drop to $2.06 billion in 2025. The company recorded a net loss of $99 million in the first quarter of this year, primarily driven by changes in the fair value of its convertible redeemable preferred shares.

By Lau Chi Hang

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Portable power bank maker Anker Innovations Technology Co. Ltd. (300866.SZ; 00668.HK) on Sunday reported its revenue rose 29.1% year-on-year to 16.61 billion yuan ($2.47 billion) in the six months through June, while its profit rose 45.9% to 1.7 billion yuan.

The company attributed the revenue growth primarily to enhanced brand recognition and its continued expansion across both online and offline channels. Its gross profit increased 41.9% to 7.83 billion yuan, while its gross margin rose to 47.2% from 42.9%, mainly driven by higher margins for smart charging and power storage products and smart audio and video products. The increase also owed partly to refunds related to a portion of IEEPA tariffs paid in prior years.

The company’s revenue rose across all three of its major businesses. Its smart charging and power storage revenue increased 31% to 8.93 billion yuan, smart home and innovation revenue grew 28.8% to 4.19 billion yuan, while smart audio and video revenue rose 24.5% to 3.48 billion yuan.

Anker’s shares opened higher on Monday and traded at HK$123.5 by the midday break, up 4.11%. The stock is up 24.3% from the offer price from its Hong Kong listing in July.

By Lee Shih Ta

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Bubble tea seller Mixue Group (2097.HK) said on Thursday its revenue grew slightly in the first half of the year as it aggressively expanded its global store network, but its profit fell as it ramped up its administrative, marketing and distribution spending.

The company reported revenue of 15.2 billion yuan ($2.26 billion) for the six months to June, up 2.3% from 14.9 billion yuan in the same period a year earlier. It had 63,951 franchised stores in 17 countries in its network at the end of June, up about 20% from 52,996 a year earlier.

The company’s sales and distribution expenses rose 22.9% year-on-year to 1.12 billion yuan in the latest six-month period, while its administrative expenses rose 39.4% to 610 million. Its cost of sales also rose 4.1% during the period, outpacing its revenue growth, with the result that its gross margin fell 1.2 percentage points to 30.4% from 31.6% a year earlier.

As a result of those factors, the company’s profit fell 14.5% in the first half of the year to 2.3 billion yuan from 2.69 billion yuan a year earlier.

Mixue’s stock fell 8.4% to close at HK$227.80 on Thursday after the results were published. The stock is down about 45% this year.

By Doug Young

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Beverage maker Nongfu Spring Co. Ltd. (9633.HK) announced on Tuesday that its revenue rose 16% year-on-year to 29.7 billion yuan ($4.42 billion) in the first half of 2026, while its profit rose by a similar 16.6% to 8.89 billion yuan.

Revenue from its newer line of non-water beverage products rose 24.1% year-on-year during the period, accounting for 67.1% of the total. Among its beverage categories, revenue from tea beverages jumped 30.1% to 13.1 billion yuan, accounting for 44.2% of the total. Revenue from functional beverages rose 15.5% to 3.35 billion yuan, and revenue from juice beverages increased 14% to 2.92 billion yuan. By comparison, revenue from its older packaged drinking water products grew just 2.1% to 9.64 billion yuan, with its share of total revenue falling to 32.4%.

The company said its East Leaf brand continued to expand its product matrix and entered more consumption scenarios, while also launching a new low-temperature tea product, Cold Extracted Longjing, further consolidating its leading position in the ready-to-drink tea market.

The company’s gross profit rose 17.1% year-on-year to 18.1 billion yuan during the six-month period, while selling and distribution expenses increased to 5.84 billion yuan.

Nongfu Spring shares opened higher on Wednesday and closed at HK$44.08, up 2.42%.

By Lee Shih Ta

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Sportswear maker Xtep International Holdings Ltd. (1368.HK) on Tuesday reported its revenue edged down 0.6% year-over-year to 6.8 billion yuan ($1.1 billion) in the first half of 2026, while its profit dropped 10.5% to 818 million yuan.

Revenue from its mass market segment slipped 2.2% to 5.9 billion yuan during the period, while its professional sports segment’s revenue rose 11.4% to 875 million yuan.

Xtep blamed the profit decline on higher operating costs for its mass market segment, which weighed on its operating profit.

Shares of Xtep opened up 0.3% at HK$3.80 on Wednesday. The stock is down 40% from its 52-week high.

By Lau Chi Hang

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Braised snack chain Zhou Hei Ya International Holdings Co. Ltd. (1458.HK) said on Thursday that its revenue rose 19.5% year-on-year to 1.46 billion yuan ($217 million) in the first half of the year. Its gross profit increased 11.6% to 799.9 million yuan, while its net profit fell 15.2% to 91.5 million yuan. Its net profit margin fell to 6.3% from 8.8% a year earlier.

The company said the revenue growth was mainly driven by its channel business. Overall revenue from online and offline channels jumped 80.4%, including a 37.4% increase online and a 207.2% surge offline. Zhou Hei Ya has deepened cooperation with channels including Sam’s Club and Pang Dong Lai, while its nationwide points of sale now exceed 50,000. Sales of its “medium-shelf-life series” topped 50 million yuan during the period.

But rapid expansion of the channel business also weighed on the company’s profitability. With channel sales carrying lower gross margins than Zhou Hei Ya’s store business, coupled with higher raw material costs, the company’s overall gross profit margin fell to 54.7% from 58.6% a year earlier. Selling and distribution expenses also rose 24.9% to 589.2 million yuan. Zhou Hei Ya operated 2,972 retail stores as of the end of June, 108 more than a year earlier.

Zhou Hei Ya’s shares opened flat on Friday and were trading at HK$1.28 by the midday break, up 2.4%.

By Lee Shih Ta

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Collectible toy brand Pop Mart International Group Ltd. (9992.HK) on Thursday reported its revenue rose 23.8% year-over-year to 17.17 billion yuan ($2.55 billion) in the first half of the year, while its net profit rose 10% to 5.04 billion yuan.

The Labubu toy maker reported a gross margin of 69.7%, down 0.6 percentage points from a year earlier. The squeeze was primarily driven by a shrinking contribution from higher-margin overseas sales, compounded by elevated raw material prices that inflated procurement costs.

Pop Mart Chairman and CEO Wang Ning said he expects the company to face heavier pressure in the second half of this year, noting a high probability that it will fall short of its 20% annual revenue growth target set at the beginning of the year.

Scrambling to cushion the blow of the anticipated shortfall, the company rolled out a plan to purchase between HK$2 billion and HK$5 billion of its stock over the next six months.

Shares of Pop Mart opened down 8% at HK$141.10 on Friday. The stock is down over 50% from its 52-week high.

By Lau Chi Hang

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Chinese traditional spirits maker ZJLD Group Inc (6979.HK) said on Wednesday that its revenue rose 2% year-on-year to 2.55 billion yuan ($378 million) in the first half of 2026, while its net profit increased 1% to 581 million yuan. Its gross profit margin increased to 59.7% from 59%, while its net profit margin edged down to 22.8% from 23%.

The company’s product mix remained sharply divided during the period. Revenue from deluxe spirits, known locally as baijiu, plunged 43% year-on-year to 328 million yuan, while revenue from premium baijiu products jumped 39.1% to 1.37 billion yuan, making them the main growth driver. The company’s signature Zhen Jiu liquor accounted for 52.7% of its revenue, while its Li Du brand contributed 30.9%.

The company said its business began to stabilize in the first half of the year after two years of contraction amid a downturn in China’s baijiu industry. Li Du’s revenue rose 28.9% year-on-year, while Xiang Jiao and Kai Kou Xiao also recorded modest growth.

ZJLD said it continued to advance channel initiatives, including its Premier Retailers Alliance and monthly profit-sharing models, and plans to extend similar mechanisms to core products including Zhen 30 in the second half of the year to drive growth in the deluxe and mid-range and below segments.

The company’s shares opened higher on Thursday and were trading at HK$8.005 by the midday break, up 1.59%.

By Lee Shih Ta

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Ride-hailing platform Chenqi Technology Ltd. (9680.HK) on Wednesday reported its revenue surged 140.7% year-on-year to 4.04 billion yuan ($600 million) in the first half of 2026, as its loss narrowed 45% to 68.49 million yuan.

The company noted that intensified collaboration with third-party mobility platforms during the period, coupled with its geographic expansion, drove up its ride-hailing transaction value. As a result, its gross profit climbed to 500 million yuan for the latest six-month period, up from 195 million yuan a year earlier.

Its first-half order volume soared 150.6% to 183 million in the first half of this year, up from 73.3 million orders in the same period of 2025. Its average daily orders also jumped roughly 150.7% to 1.02 million from 405,000 a year earlier.

Shares of Chenqi opened flat at HK$7.98 on Thursday. The stock is down 39% from its 52-week high.

By Lau Chi Hang

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Guoquan Food (Shanghai) Co. Ltd. (2517.HK), a supplier of ingredients for hotpots and other dining at home, on Monday reported double-digit revenue and profit growth in the first half of 2026, as online channels made a growing contribution to its growing network of mostly franchised offline stores.

The company’s revenue rose 21.8% year-on-year to 3.95 billion yuan ($586 million) during the six months to June. As of June 30, the number of stores in Guoquan’s network increased to 12,198.

Its net profit rose 12.1% year-on-year to 213 million yuan, while its non-IFRS core operating profit rose 18.3% to 225 million yuan. The company also returned 296 million yuan to investors in the first half through 168 million yuan in share buybacks and 128 million yuan in dividends, a return on equity rate of 7.1%.

Guoquan upgraded 684 outlets to its large-store format in the first half, as it seeks to lift store productivity by offering more products and positioning the stores as gateways for community and household dining.

The company also stepped up development of Guoquan Farm, its premium-ingredient retail offering that transcends physical space and freezer constraints of individual stores. Paid gross merchandise value (GMV) from the business reached 240 million yuan over the period, up 631% year-on-year. The company sees Guoquan Farm as a new growth engine that links direct sourcing with online sales and near-instant store pickup, using an unlimited online assortment to eliminate shelf-space constraints of physical stores.

Guoquan also opened its first store in Hong Kong on Aug. 18 to gain offshore experience before expanding into other international markets.

The company is also finding big business in its membership program, which reached 82 million members by the end of June, up 63% year-on-year.

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Jewelry retailer Chow Sang Sang Holdings International Ltd. (0116.HK) on Monday projected a sharp increase in its profit for the six months through June, saying its profit from continuing operations will range between HK$2.1 billion ($269 million) and HK$2.2 billion, up 130% to 142% from the HK$910 million it reported a year earlier.

The company said improving sales bolstered its retail division. In addition, it recognized unrealized gains from its mark-to-market revaluation of bullion loans, compared with unrealized losses in the year-ago period.

Shares of Chow Sang Sang opened up 11% at HK$13.40 on Tuesday. The stock is down 10% from its 52-week high.

By Lau Chi Hang

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China’s securities regulator announced on Friday it has formally registered the Hong Kong IPO application from Shenzhen Transsion Holdings Co. Ltd. (688036.SH), clearing a key regulatory hurdle for the cellphone maker’s listing plan. Transsion plans to sell up to 132 million Hong Kong-listed H-shares in the offering, according to the notice on the China Securities Regulatory Commission (CSRC) website.

Transsion is already listed in Shenzhen. Its plan to raise money in Hong Kong makes it the latest in a recent wave of companies listed on China’s domestic markets in Shenzhen and Shanghai to seek second listings targeting Hong Kong’s more international investor pool.

The company is Africa’s leading cellphone maker by unit sales with 61.5% of the market in 2024, according to its latest prospectus filed with the Hong Kong Stock Exchange in June. But it was only the continent’s second-largest cellphone maker in terms of revenue, with a far lower 22.5% of the market, reflecting its focus on low-cost models.

The company’s revenue fell 4.5% to 65.6 billion yuan ($9.73 billion) last year from 68.7 billion yuan in 2024, as it faced growing competition from other Chinese brands. Its profit for last year fell by more than half to 2.61 billion yuan from 5.6 billion yuan in 2024.

By Doug Young

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Leading spicy strip snack maker Weilong Delicious Global Holdings Ltd. (9985.HK) said on Thursday its revenue climbed 6.7% year-over-year to 3.72 billion yuan ($550 million) in the first half of 2026. Its profit for the period rose 4% year-on-year to 766 million yuan.

The company’s distribution and selling expenses during the period jumped 26% to 670 million yuan, while its administrative expenses also increased 11.7%, causing its operating profit to drop by 3.2% to 918 million yuan. But the company still managed to post a slight profit uptick, buoyed by a 16.7% increase in finance income alongside a 30% drop in finance costs.

Sales from the company’s signature spicy strip snacks dropped nearly 10% to 1.18 billion yuan from 1.3 billion yuan a year earlier. Weilong attributed the slump to adjustments in its resource allocation and the impact of dwindling foot traffic at traditional offline channels.

Shares of Weilong opened up 1.3% at HK$7.98 on Friday. The stock is down more than 40% from its 52-week high.

By Lau Chi Hang

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Toymaker Bloks Group Ltd. (0325.HK) announced on Wednesday its revenue rose 32.7% year-over-year to 1.78 billion yuan ($263 million) in the first half of this year, while its profit climbed 30% to 387 million yuan.

The company's online and offline sales both posted double-digit growth during the six-month period. Offline sales grew 31.4% year-over-year to 1.59 billion yuan, accounting for 89.7% of total revenue. Online revenue jumped by a faster 68.1% to 181 million yuan, making up 10.2% of the total. The company had 1,851 stock-keeping units (SKUs) on sale in the first half of the year, including 426 newly launched products.

Bloks posted triple-digit revenue growth overseas, with international sales soaring 228.5% year-over-year to 366 million yuan. The U.S and Indonesia were the two biggest countries among its international markets during the period.

Shares of Bloks opened up 6.2% at HK$63 on Thursday. The stock is down nearly 50% from its 52-week high.

By Lau Chi Hang

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Gold jewelry retailer Mokingran Jewellery Group Co. Ltd. (2585.HK) on Tuesday forecast it would report revenue of 9.16 billion yuan ($1.36 billion) to 11.19 billion yuan for the first half of this year. The company expects to report a profit of approximately 18 million to 21 million yuan for the period, bouncing back from a loss of 70 million yuan a year earlier.

Mokingran attributed the turnaround to reduced losses from Au(T+D) contracts and gold leasing in the first half of the year. It added its push into overseas markets has begun to bear fruit, with an increase in offshore revenue helping offset the impact of falling sales in China.

Shares of Mokingran opened flat at HK$29.54 on Wednesday. The stock is down 15% from its 52-week high.

By Lau Chi Hang

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Maternity care provider Saint Bella Group Ltd. (2508.HK) announced on Monday it expects to report revenue of 608 million yuan ($90 million) or more for the first half of this year, up at least 35% year-on-year. It expects to report its net profit was 53.4 million yuan or higher, down at least 83.7% from about 326.9 million yuan a year earlier, while its adjusted net profit rose 54% year-on-year to 60 million yuan or more.

The company attributed the sharp drop in its net profit to a one-off gain of about 318.2 million yuan from changes in the fair value of financial instruments issued to investors in the year-ago period. The gain was a non-cash item and will no longer affect the company’s financial performance following its listing.

Among its core operations, the company said its postpartum center business remained solid, while value-added businesses, including postpartum rehabilitation care, home-visit services and health and wellness food products, recorded strong growth. It also completed its acquisition of Fu Lei Ya, a leading maternity and infant care brand in Wuhan, during the period, while improved operations and refined management helped lower its selling and administrative expense ratio.

The company’s self-developed vertical AI large model, “Dr. Bella,” has also been integrated into its in-store and home-visit services, while its AI intelligent agents began generating revenue.

Shares of Saint Bella opened flat on Tuesday and were down 4.65% at HK$3.175 by the midday break. The stock is down 21% year-to-date.

By Lee Shih Ta

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Online gaming company Boyaa Interactive International Ltd. (0434.HK) on Monday said it swung to a net loss of HK$790 million ($101 million) to HK$800 million in the first half of 2026, blaming a steep decline in the value of its bitcoin holdings. The loss compared with a profit of HK$226 million in the year-ago period, when the result was buoyed by a gain in the fair value of its digital assets.

Management emphasized that excluding changes in the fair value of its financial assets, the company’s first-half profit actually surged by 120% to 125% year-over-year, bolstered by an increase in online gaming revenue.

Shares of Boyaa opened flat at HK$2.315 on Tuesday. The stock is down more than 70% from its 52-week high.

By Lau Chi Hang

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Leading hog breeder Muyuan Foods Group Co. Ltd. (2714.HK; 002714.SZ) on Wednesday said it sold 6.66 million finished hogs in July, up 4.8% year-over-year increase. But its revenue tumbled 23.6% to 8.9 billion yuan ($1.32 billion) over the period.

The revenue decline owed mostly to falling hog prices, the company said, as the average selling price for finished hogs in July dropped 25.6% year-over-year to 10.64 yuan per kilogram.

Finished hog prices have been volatile this year. Early in the year, the average price per kilogram peaked at 12.57 yuan, but then slumped to slightly over 9 yuan between March and June, before climbing back above 10 yuan last month.

Shares of Muyuan opened up 0.06% at HK$31.42 on Thursday. The company’s Hong Kong stock is down 20% since its market debut earlier this year.

By Lau Chi Hang

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Luckin Coffee Inc. (LKNCY.US) on Monday reported its slowest revenue growth since its major accounting scandal in 2020, as it recorded a second consecutive quarter of same-store sales declines and continued to open new stores at a brisk pace.

Luckin reported revenue of 15.9 billion yuan ($2.35 billion) for the three months to June, up 28.5% from 12.4 billion yuan a year earlier. That marked its first time growing less than 30% since the company’s 2020 accounting scandal involving hundreds of millions of dollars in fake sales, which saw it removed from trading on the Nasdaq and become an over-the-counter stock.

The company opened 2,714 net new stores during the second quarter, up from 2,548 new openings in the previous quarter. It had 36,310 stores at the end of June, up 8.1% from three months earlier, including 23,734 self-operated stores and 12,576 partnership stores. Same-store sales for its self-operated shops fell 5.3% during the second quarter, as the company blamed strong year-ago sales fueled by a subsidy war among China’s three leading takeout delivery companies.

The company’s net income rose 16.1% year-on-year during the second quarter to 1.49 billion yuan.

Luckin’s shares rose 6% to close at $37.10 on Monday after the announcement. The stock is up about 11% this year.

By Doug Young

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Macao's Gaming Inspection and Coordination Bureau announced on Sunday that gross gaming revenue for July fell 8.4% year-over-year to 20.26 billion Macao patacas ($2.52 billion). While the latest figure was down year-on-year, the drop narrowed from June's 12% slide, and full-month gaming receipts rose above the 20-billion-pataca mark again.

July's gaming revenue rose 9.4% sequentially from June. The conclusion of the World Cup in the middle of last month helped to fuel a rebound in tourist and gambler volumes, driving a recovery in gaming receipts in the latter half of the month. With the World Cup finished and the summer holidays in full swing, gaming revenue for August is poised for a more substantial rebound.

Despite the drag from slipping gaming revenue in June and July, cumulative gaming receipts for the first seven months of the year reached 147.16 billion patacas, up 4.4% year-over-year. Total gaming revenue to date now stands at 62% of the government's 236 billion pataca estimate, leaving a strong probability of meeting its full-year target.

By Lau Chi Hang

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Recycler ATRenew Inc. (RERE.US) on Tuesday opened its first store in Hong Kong and launched FoneSquare, a global B2B marketplace, and B2C consumer-facing “ReRe” brand, taking its first steps outside the Chinese Mainland base as it detailed a plan for taking its core expertise global.

The company’s first ReRe store opened in Citywalk, a popular shopping area in Hong Kong’s Tsuen Wan district. Simultaneously, it began operating and accepting merchant registrations for its FoneSquare B2B online marketplace, targeting overseas businesses that want to buy and trade pre-owned consumer electronics.

“From here, we will take our business, capabilities, and brand overseas, connecting high-quality, compliant pre-owned products with global demand and bringing our standardized, automated solutions to international markets,” said ATRenew founder and Chairman Chen Xuefeng.

ATRenew is China’s largest recycler, starting out with a focus on smartphones, including Apple’s iPhones, but also other electronics like PCs. Since 2022, it has expanded into other areas like gold, pre-owned luxury bags and vintage liquors, aiming to build itself into a leading recycling brand.

The ReRe-branded store, short for “Revalue what you own, renew the way you choose” will offer recycling and retailing of pre-owned products, including consumer electronics, luxury goods and sporting items. Hong Kong will also become one of two distribution centers for the global online B2B business, with the other in Dubai. The company said it may deploy multi-module intelligent testing equipment and automated warehousing and transfer systems in Hong Kong, Dubai, and Miami — three major global trade nodes.

ATRenew shares rose 5.1% on Tuesday in New York after the announcement to close at $4.33. The stock is up 32% over the last 52 weeks.

By Doug Young

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Brewer Budweiser Brewing Co. APAC Ltd. (1876.HK) announced on Thursday that its profit rose 15.6% year-on-year to $473 million in the first half of 2026, while its normalized profit increased slightly to $481 million from $474 million.

The company’s gross margin for the period rose 0.5 percentage points to 51.9%, and total sales volumes fell 2.3% to 4.26 billion liters. Its cost of sales totaled $1.53 billion, compared with $1.52 billion a year earlier. Revenue per hectoliter increased 0.8% in the first half of the year, supported by a positive country mix and revenue management initiatives in its Eastern region.

In China, the company’s first-half volumes and revenue fell 6.0% and 6.4%, respectively, while revenue per hectoliter declined 0.4%. India delivered double-digit revenue growth. Volumes in South Korea were flat, outperforming the industry, while revenue management initiatives drove low-single-digit growth in revenue per hectoliter.

CEO Yanjun Cheng said the recovery of the company’s China business was slower than expected in the first half of the year. The company is taking focused actions to improve performance, including continued investment in flagship brands and innovative products, stronger execution and an expanded presence in in-home channels.

Shares of the company rose 1.7% to close at HK$7.05 on Thursday.

By Lee Shih Ta

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Automaker BAIC Motor Corp. Ltd. (1958.HK) on Tuesday warned it expects to report a loss of 1.55 billion yuan ($229 million) to 1.65 billion yuan for the first half of 2026, reversing a profit of 360 million yuan a year earlier.

The company attributed the sharp turnaround to fierce competition in China’s auto market, which caused sales to fall short of expectations. Surging raw material and marketing costs further undermined the company, dragging it into the red. Confronted with those headwinds, BAIC said it is navigating industry trends and advancing its new energy transition strategy.

It said its Beijing Benz subsidiary has accelerated the rollout of new energy vehicle (NEV) models. The unit has also boosted its localization efforts to slash costs, boost efficiency and enhance the competitiveness of its offerings in the luxury car market.

Shares of BAIC Motor opened up 2.3% at HK$0.88 on Wednesday. The stock is down over 60% from its 52-week high.

By Lau Chi Hang

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Auto trading services provider Autohome Inc. (ATHM.US; 2518.HK) on Tuesday announced its board has authorized a new $400 million share repurchase program to support the company’s stock. The program took effect on July 28, and will run through the next 12 months.

The company pointed out it has been repurchasing its shares in the open market over the last few months. It said it will fund the latest plan through its existing cash balance, which totaled about 1.4 billion yuan ($207 million) at the end of March. The company also had 17 billion yuan in short-term investments at the end of March.

It announced the buyback as the company and others from China’s auto sector suffer through one of the industry’s worst downturns in years. Domestic car sales plunged 20.2% year-on-year in the first half of 2026 to 8.7 million units. As that happened, Autohome’s revenue fell 27.6% in the first quarter of this year to 1.05 billion yuan from 1.45 billion yuan a year earlier. Its profit for the period plunged 87% to 44.3 million yuan from 340.5 million yuan.

Autohome’s New York-listed shares rose 7.7% to close at $23.01 on Tuesday. But the stock is still down 18.1% over the last 52 weeks.

By Doug Young

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Hog farmer Dekon Food and Agriculture Group (2419.HK) said on Sunday it plans to issue $100 million in zero-coupon convertible bonds due in August 2027. The initial conversion price is HK$54.08 per share, representing a 5% premium to the company’s July 24 closing price of HK$51.50. The bonds are expected to be listed on the Vienna MTF.

A full conversion of the bonds will require Dekon to issue about 14.5 million new Hong Kong-listed shares, equal to about 3.73% of its current share capital and 3.59% of its enlarged share capital. The company expects to raise net proceeds of about $99.7 million.

Dekon will use 40% of the proceeds to repay outstanding bank borrowings, 30% to purchase animal feed, and the remaining 30% for feed ingredients, veterinary medicines, vaccines, disinfectants and other production inputs. The company said the bond issue would help meet repayment needs for borrowings due within one year and provide working capital for its livestock and poultry farming operations.

Dekon previously warned that it expects to post a net loss of as much as 1.4 billion yuan ($207 million) for the first half of this year due to an oversupply of hogs in China, reversing a profit of 1.23 billion yuan a year earlier.

The company’s shares opened lower on Monday before recovering their losses, and were unchanged at HK$51.50 by the midday break.

By Lee Shih Ta

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Dairy products company Ausnutria Dairy Corporation Ltd. (1717.HK) said on Friday its revenue fell sharply in the first half of 2026, as it swung into the red, citing changes in demand for infant formula and in the international logistics environment.

The company expects to report revenue of 3.07 billion yuan ($453 million) to 3.17 billion yuan for the first half of 2026, down about 20% at the midpoint from 3.89 billion yuan a year earlier. It added it expects to report a net loss of 685 million yuan to 785 million yuan for the six-month period, reversing a profit of 180.9 million yuan a year earlier. Excluding a one-time inventory-related adjustment and related charges, the company expects to record a core net operating profit of 155 million yuan to 255 million yuan for the first half of this year.

Ausnutria said its inventory turnover efficiency and fulfilment costs were negatively affected in the first half by factors such as changes in the international logistics environment, fluctuations in transportation costs and tightening regulatory requirements. In response, it made a one-time inventory-related adjustment during the period.

Ausanutria’s stocks is down about 37.2% this year.

By Doug Young

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Jewelry retailer Chow Tai Fook Jewellery Group Ltd. (1929.HK) announced on Thursday that its retail sales value rose 15.1% year-on-year in the quarter through June, the first quarter of its fiscal 2027 year.

By region, the company’s retail sales value increased 10.7% in Mainland China, while it jumped 44.8% in Hong Kong, Macao and other markets. The two segments accounted for 83.6% and 16.4% of the company’s retail sales value, respectively.

Same-store sales rose 19.6% at the company’s self-operated stores in Mainland China and 15.7% at its franchised stores. Hong Kong and Macao recorded 41.7% same-store sales growth, including 35% and 64.6% increases in Hong Kong and Macao, respectively. Softer gold prices stimulated demand, lifting same-store sales of weight-based gold jewelry by 38% in Mainland China and 63.7% in Hong Kong and Macao. Same-store sales of fixed-price jewelry in Mainland China fell 1%.

The company said its brand transformation and product upgrades supported higher average selling prices. The retail sales value of its Dawn Collection, launched in April, exceeded HK$870 million ($110.9 million) during the quarter. The company also continued to optimize its store network, recording a net closure of 258 Chow Tai Fook Jewellery points of sale in the Mainland China. It had 5,434 points of sale at the end of June.

Shares of Chow Tai Fook opened flat on Friday and were trading at HK$12.22 by the midday break, down 2.32%. The stock is down 12.7% over the past six months.

By Lee Shih Ta

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Geely Automobile Holdings Ltd. (0175.HK) announced on Thursday that it agreed to buy 34% of U.S. auto giant Ford’s (F.US) Spanish operation for 221 million euros ($251 million). Following the deal, Geely and Ford will operate Ford Espana as a China-U.S. joint venture, with Geely holding 34% and Ford continuing to hold the remaining 66%.

After the deal’s completion, the joint venture will engage in contract manufacturing of passenger vehicles at its facilities in Spain’s Valencia region. The venture will not have its own independent sales functions and will not undertake product design.

Ford Espana earned a net profit after taxes of 69.8 million euros last year, down from 236.3 million euros in 2024. Geely said the purchase will allow it to manufacture vehicles in Europe for sale to the European market, avoiding import duties. It will be able to immediately benefit from Ford Espana’s existing workforce, supply chains and other resources.

The move comes as Chinese automakers boost their exports to offset slowing sales in their home market. But those exports are meeting with resistance in some Western markets, especially new energy vehicles (NEVs) that have become a key focus for many Chinese companies. The two joint venture partners have a relationship dating back to 2010, when Geely bought the Volvo car brand from Ford for $1.8 billion.

Geely shares rose 3.3% on Thursday before the announcement. The stock is up 3.2% this year.

By Doug Young

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Brewer San Miguel Brewery Hong Kong Ltd. (0236.HK) on Wednesday said it expects to report a profit of HK$11.4 million ($1.45 million) for the first half of 2026, down 78% from the HK$51.1 million it reported a year earlier.

It blamed the decline on the conflict in Iran, and resulting geopolitical tensions in Asia, which resulted in higher operating costs that negatively affected its export volumes.

The company’s revenue rose 3.7% in 2025 to HK$737 million, while it swung to a profit of HK$76.2 million for the year from a loss of HK$20.1 million in 2024.

The company’s stock is down 6.5% this year.

By Doug Young

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Sportswear retailer Topsports International Holdings Ltd. (6110.HK) announced on Wednesday that it was formally notified by Nike after market close on Tuesday that it will no longer be authorized to make online sales of Nike products in Mainland China from Jan. 1, 2027.

The business accounted for about 22% of Topsports’ total revenue in its financial year through February, and it said the termination is expected to have a material impact on its business in the near term.

Reports emerged in mid-June that Nike planned to revoke Topsports’ online distribution authorization, sending the retailer’s shares sharply lower over several sessions and prompting a brief trading suspension. Topsports said at the time that it had not been notified of any such move by Nike, but stopped short of denying the reports.

Following the announcement, Topsports shares opened lower on Wednesday and were trading at HK$1.45 by the midday break, down 24.1%. The stock has fallen 42.23% over the past month.

By Lee Shih Ta

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Baby products maker Softcare Ltd. (2698.HK) on Tuesday said its revenue totaled $328 million or more in the first half of 2026, up at least 28% year-over-year. Its profit for the period totaled $73 million or more, up by 40% or higher year-on-year.

The revenue growth was primarily driven by Softcare’s initiatives to deepen its sales channels, improve its production footprint and penetrate new markets, which combined to lift both sales volume and average unit prices during the period. The strengthening of many African currencies against the U.S. dollar provided an additional boost to average selling prices.

The top-line growth translated to higher gross profits, while higher bank balances after the company’s IPO last year generated greater interest income. The absence of listing expenses in the latest reporting period, unlike last year, also bolstered the company’s bottom line this year.

Shares of Softcare opened up 3.8% at HK$30.40 on Wednesday. The stock is up over 10% from its listing price last year.

By Lau Chi Hang

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Containerboard and pulp producer Lee & Man Paper Manufacturing Ltd. (2314.HK) on Monday said it expects to report a profit of HK$1.33 billion ($170 million) to HK$1.39 billion for the six months through June, up 64% to 71% from HK$811 million a year earlier.

The company attributed the sharp increase mainly to improving profit margins.

Lee & Man Paper primarily produces and sells containerboard, pulp and tissue paper. It operates production facilities in Guangdong, Jiangsu, Chongqing, Jiangxi and Guangxi in China, as well as overseas in Vietnam and Malaysia.

The company’s shares opened higher on Tuesday and were trading at HK$3.84 by the midday break, up 12.6%. The stock has gained about 37.1% since the start of the year.

By Lee Shih Ta

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Yarn maker Texhong International Group Ltd. (2678.HK) said on Friday it expects to report its profit rose 75% in the first half of 2026 from the 464 million yuan ($68.5 million) profit it reported in the same period of 2025, citing strong demand from the textile industry.

The company said it also benefited from improvements to its balance sheet, which helped to reduce its financing costs during the period. Texhong’s revenue fell 1.4% last year to 22.7 billion yuan, but its profit rose 63% to 913 million yuan.

The company’s stock is up 63.6% over the last 52 weeks.

By Doug Young

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Jeweler Luk Fook Holdings (International) Ltd. (0590.HK) on Thursday reported its overall retail sales value rose 32% year-over-year in the quarter through March 31 this year. Its retailing revenue, excluding franchised shops, jumped 43%, while same-store sales climbed 39% during the period.

Fueled by a sharp surge in gold prices earlier this year, gold and platinum products accounted for 82% of Luk Fook's total retail sales value, marking a year-over-year increase of 6 percentage points.

The company’s total number of shops decreased by 148 in the first quarter of this year. Its global network stood at 2,857 stores at the end of June, including 157 self-operated Lukfook Jewellery locations. Meanwhile, it opened two new overseas branches, located in Singapore and Vietnam.

The company said that while gold prices have been volatile recently, consumers have gradually adapted to higher prices, preventing any significant impact on sales. Following the implementation of China's new value-added tax policy on gold, the product price gap between the Mainland and Hong Kong and Macao has widened. This is expected to draw more consumers to purchase gold jewelry in Hong Kong and Macao, bolstering retail sales in those cities.

Shares of Luk Fook opened flat at HK$23 on Friday. The stock is down over 30% from its 52-week high.

By Lau Chi Hang

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Laundry and household cleaning products maker Blue Moon Group Holdings Ltd. (6993.HK) said on Wednesday it expects to report its net loss in the first half of 2026 narrowed by at least 55% from HK$435 million ($55.5 million) a year earlier, implying a loss of HK$196 million or less.

The company attributed the improvement mainly to greater operating efficiency, more effective marketing and an optimized sales channel mix. During the period, Blue Moon streamlined its business processes and resource allocation, cut inefficient expenses and directed more marketing resources toward core channels with stronger profitability and growth potential, helping lower its selling and distribution expense ratio.

The company also promoted new products, including its Supreme concentrated laundry detergent and JingXiang foaming body wash series, through campaigns such as the “Supreme Clean Journey” and the “Liuda Festival,” improving returns on marketing spending. Blue Moon also continued to expand its offline distribution network, emerging e-commerce channels and other promotional platforms to attract younger consumers and increase its number of new customers.

The company said it will continue to differentiate its product portfolio, broaden its sales channels and increase research and development investment. It expects to release its first-half results by the end of August.

Blue Moon shares opened flat on Thursday and were trading at HK$3.11 by the midday break, up 4.36%.

By Lee Shih Ta

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Auto sales company China Yongda Automobiles Services Holdings Ltd. (3669.HK) announced Wednesday that it will sell 73.16 million new shares to Hongxin International Shipping for HK$0.825 each. The sale will raise HK$60.36 million ($7.73 million), which Yongda will use for efforts to deploy its embodied intelligence.

The subscription price represents a 19.9% discount to Yongda's Wednesday price of HK$1.03 per share, but a 2.1% premium over the average price of HK$0.808 per share over the past five trading days. The placement shares will account for approximately 3.85% of Yongda’s enlarged share capital.

Yongda also entered into a strategic cooperation agreement with Hongxin Electronics, a unit of Hongxin International Shipping. Yongda plans to leverage Hongxin Electronics' capabilities and resources to deploy its commercial application services for embodied intelligence.

Shares of Yonda opened down 10.7% at HK$0.92 on Thursday. The stock is down over 60% from its 52-week high.

By Lau Chi Hang

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The head of Anta Sports Products Ltd.’s (2020.HK) namesake Anta brand has stepped down, following recent weak performance for the sportswear brand, Caixin reported on Wednesday. Anta brand CEO Xu Yang resigned for family reasons, and will be transferred to another position in the company, a spokesperson told Caixin.

Xu’s resignation comes after the Anta brand’s revenue rose just 3.7% last year to 34.8 billion yuan ($5.14 billion), accounting for about 34% of total sales. That marked a sharp slowdown from the brand’s 10.6% growth in 2024. The brand’s gross margin last year also fell 0.9 percentage points to 53.6%.

Xu was responsible for the earlier success in China of the company’s premium Arc’teryx’s brand, which Anta acquired in 2019. He returned to the Anta brand in 2023, and was given the tasks of upgrading its image and boosting sales.

Anta’s shares are down about 8.2% this year, ahead of even bigger declines of 19% and 30.6% for smaller rivals Li Ning (2331.HK) and Xtep (1368.HK), respectively.

By Doug Young

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Global smartphone shipments fell 6.7% in the second quarter of 2026, as lower-cost brands like Xiaomi (1810.HK), Vivo and Oppo suffered double-digit declines after soaring memory costs forced them to raise their prices. By comparison, premium brands like Apple (AAPL.US) and Samsung (005930.KS) bucked the trend with strong shipment gains during the quarter, as they absorbed the higher memory costs without major price hikes.

Manufacturers shipped 277.5 million smartphones worldwide in the second quarter, down from 297.4 million units a year earlier, according to IDC data released on Monday. Xiaomi’s shipments plunged 26.3% year-on-year, as its share of the global market fell 3 percentage points to 11.2%. Oppo’s shipments fell 17.5%, dropping its market share to 10.4%, while Vivo’s shipments fell 19.4%, giving it 7.6% of the global market.

Samsung was the leading smartphone seller in the quarter, logging an 8.1% shipment increase to boost its global market share by 3.1 percentage points to 22.6%. Apple was the second leading brand with 15.3% year-on-year shipment growth, boosting its share of the global market by 3.8 percentage points to 20.1%.

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Tea producer Bama Tea Co. Ltd. (6980.HK) announced on Friday it expects to report its revenue rose by at least 30% year-on-year in the first half of 2026, while its profit increased by 60% or more.

The company recorded revenue of about 1.06 billion yuan ($157 million) and a profit of about 120 million yuan in the year-ago period. Based on its minimum projected growth rates, it should report first-half revenue of at least 1.38 billion yuan ($204 million), and a profit of 192 million yuan or more.

Bama Tea attributed the growth to continued expansion of its franchise, as well as online and key-account channels, which boosted both its revenue and profitability.

Bama Tea’s shares opened higher on Monday and were trading at HK$20.32 by the midday break, up 7.23%.

By Lee Shih Ta

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Shares of fruit snack seller Jiangxi Qiyunshan Food Co. Ltd. (2797.HK) more than doubled in their trading debut on Thursday, making it the best performer over a frenzied two-day period that saw 12 companies complete their Hong Kong IPOs.

Qiyunshan raised a relatively small HK$167 million ($21.3 million) by selling 25 million shares for HK$8 each. The stock traded as high as HK$26 during the day – more than triple the IPO price – before closing at HK$21, up 163%. The retail portion of the offer for local investors was more than 1,600 times oversubscribed, while the international portion was 1.51 times covered.

Qiyunshan ended the day with a market value of HK$2.1 billion. Its revenue fell 7.4% last year to 314 million yuan ($46.2 million), while its profit fell 8.1% to 48.9 million yuan.

Qiyunshan was the best performer among the 12 companies to list over the last two days, including seven that debuted on Thursday. One listing on Tuesday and another two set for Friday will bring the weekly total to 15 companies that made their trading debuts this week, in one of Hong Kong’s hottest IPO markets in years.

While Qiyunshan logged the best first-day performance among the 12 new listings on Wednesday and Thursday, the worst performance came from Rigol (0537.HK), an electronic test and measurement instrument company, whose shares fell 37.4% on their first trading day. The largest listing came from electronics contract manufacturer Luxshare (2475.HK; 002475.HK), which raised HK$24 billion.

By Doug Young

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Bubble tea chain Auntea Jenny (Shanghai) Industrial Co. Ltd. (2589.HK) said Monday that the Hong Kong Stock Exchange has approved its application for the full circulation of its Hong Kong-tradeable H shares. Late last month, the China Securities Regulatory Commission (CSRC) also issued a filing notice approving the full H-share circulation.

A total of 35.26 million shares are eligible for full circulation, representing approximately 33.51% of the company's total issued shares and involving eight participating shareholders.

Shares of Auntea Jenny have been volatile over the past three months, surging nearly 140% from a mid-April trough to a June peak of HK$176.90 before pulling back sharply. The stock opened up 0.3% at HK$94.95 on Tuesday, down 46% from last month's high.

By Lau Chi Hang

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