FAST NEWS: SenseTime’s loss widens despite cost controls
The latest: Artificial intelligence (AI) company SenseTime Group Inc. (0020.HK) said its revenue fell 10.6% to 3.41 billion yuan ($472 million) last year, while its non-GAAP net loss rose 14.2% to 5.41…
NEWS WRAP: FinVolution’s international adventure bears fruit
The online lender’s international business grew far faster than its home market last year, accounting for nearly a fifth of its revenue By Teri Yu Shanghai-based fintech FinVolution Group (FINV.US) announced on…
FAST NEW: Futu plummets on revenue miss
The Latest: Online brokerage Futu Holdings Ltd. (FUTU.US) on Thursday reported its fourth-quarter net profit fell 8.4% year-on-year to HK$878 million ($112 million), though its full-year profit rose 46.2% to HK$4.28 billion. Looking Up: The company’s…
NEWS WRAP: Fanhua details plan to go global, expand into high-tech healthcare
The Chinese insurance broker said it will use $500 million from a Singaporean investor to move beyond its home market through two medical-related acquisitions By Teri Yu Fanhua Inc.…
NEWS WRAP: Business incubator TOJOY to set up base in Hong Kong
The company hopes to attract investors with its big-data approach to nurturing innovative startups by matching them with larger, more mature companies. By Teri Yu TOJOY Shared Holding Group,…
FAST NEWS: Waterdrop profit plunges on crowdfunding platform’s losses
The latest: Online insurer Waterdrop Inc. (WDH.US) on Thursday announced its profit plunged 78.6% to 33.6 million yuan ($4.68 million) in the third quarter, though the result still represented its seventh consecutive quarterly…
FAST NEWS: FWD Group delays Hong Kong IPO plan again
The latest: The latest IPO prospectus from FWD Group Holdings Ltd. lapsed early this month, further delaying the regional insurer’s listing after its fourth application. The company decided to postpone its…