INDUSTRY BRIEF: Temu and Shein slash U.S. ad spending, warn of price hikes
Chinese-linked e-commerce operators Shein and Temu are slashing their U.S. advertising spending and warning customers of imminent price hikes as the U.S. gets set to start collecting import tariffs on…
BRIEF: TSMC’s profit jumps in first quarter, unaffected by tariff impact
Taiwan Semiconductor Manufacturing Co. Ltd. (TSM.US; 2330.TW) reported on Thursday its revenue reached T$839.25 billion ($25.53 billion) in the first quarter, up 35.3% year-on-year. Its net profit rose for the…
NEWS WRAP: Chagee raises $411 million in Nasdaq IPO
The listing was the first in the U.S. by a Chinese premium tea drink maker, which prides itself on the simplicity of its products and focus on the country’s ancient…
BRIEF: China gives nod for Smart Logistics Global’s Nasdaq IPO
Business-to-business logistics company Smart Logistics Global Ltd.’s plan to list in the U.S. was formally registered by China’s securities regulator, paving the way for its Nasdaq IPO. According to the…
BRIEF: Hongjiu Fruit chairman, board members probed for fraud
Chongqing Hongjiu Fruit Co. Ltd. (6689.HK) announced on Wednesday that its Chairman Deng Hongjiu and five board members are being investigated for various criminal offenses related to suspected loan fraud…
BRIEF: Xtep reports mid-single-digit growth in first quarter
Sportswear company Xtep International Holdings Ltd. (1368.HK) said on Wednesday that its China operations achieved mid-single-digit year-over-year retail sales growth during the first quarter, with average discounts reaching between 25%…
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