BRIEF: Tuya swings to profit as premium client base expands
Internet of things (IoT) platform operator Tuya Inc. (TUYA.US; 2391.HK) reportedon Tuesday its revenue rose 21.1% year-on-year in the first quarter to $74.7 million. Its gross margin improved by 0.7…
BRIEF: Sun Art returns to the black on changing store mix
Supermarket operator Sun Art Retail Group Ltd. (6808.HK) reported Tuesday that revenue for its latest fiscal year through March fell 1.4% year-on-year to 71.6 billion yuan ($9.91 billion). But the…
BRIEF: CATL jumps in trading debut as Hong Kong’s biggest IPO this year
Shares of electric vehicle (EV) battery maker Contemporary Amperex Technology Co. Ltd. (CATL) (3750.HK; 300750.SZ) opened up 12% from their IPO price in their Hong Kong trading debut on Tuesday, and continued…
BRIEF: Stimulus policies fuel 54.6% jump in Qifu’s quarterly profit
Online lending services provider Qifu Technology Inc. (QFIN.US; 3660.HK) reported on Monday its revenue rose 12.94% year-on-year to 4.69 billion yuan ($653 million) in the first quarter. Its net profit…
INDUSTRY BRIEF: Polysilicon makers slash output to 30-40% of capacity
Chinese polysilicon makers have slashed their output and are currently operating at less than 40% of capacity, as they struggle to cut their losses from selling product at less below…
BRIEF: Cloud Factory chairman to sell up to 15% stake
Cloud Factory Technology Holdings Ltd. (2512.HK), a provider of internet data center services, announced on Monday that its chairman and CEO plans to sell up to 69 million of his…
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