Unpaid debts, fleeing directors leave Sino-Ocean Group in dire straits
The heavily-indebted developer is betting its life on future property sales after halting repayment of its offshore debt Key Takeaways: Sino-Ocean Group's interim loss this year ballooned to nearly 18.4…
3377.HK
Kingdee transition still ongoing as cloud unit casts shadow on profits
China’s biggest corporate software maker is scaling back its enterprise resource planning (ERP) business, but costs for its newer cloud unit are still nearly one-third of revenue Key Takeaways: Kingdee’s…
0268.HK
Questions hover over Alibaba cloud unit with chairman’s surprise resignation
The e-commerce giant said its former Chairman Daniel Zhang will leave his new role as head of its Cloud Intelligence Unit to head a tech fund with $1 billion contributed…
9988.HK
BABA.US
NEWS WRAP: Hesai drives beyond China in new tie-up with Germany’s Webasto
The Chinese company will supply its light detection and ranging (LiDAR) technology used in autonomous driving to the German maker of automotive roof systems By Teri Yu Automotive light…
HSAI.US
NEWS WRAP: ZTO Express zooms on Covid rebound, but warns of ‘soft economic environment’
The leading Chinese parcel delivery company’s revenue rose 12.5% in the second quarter, while its profit jumped 44% By Doug Young Parcel delivery company ZTO Express (Cayman) Inc. (ZTO.US;…
ZTO.US
2057.HK
NEWS WRAP: Full Truck Alliance drives ahead with Covid controls in the rear-view mirror
The trucking app operator reported its revenue rose 23.5% in the second quarter, and forecast a slight deceleration in the growth rate in the current quarter By Teri Yu…
YMM.US
Weak electronics demand squeezes SMIC margins
China’s leading semiconductor manufacturer faces continued earnings pressure as the U.S. tightens sanctions and global demand for consumer electronics falters Key Takeaways: SMIC expects third-quarter revenue to grow 3% to…
0981.HK
688981.SHG
