Leading Chinese microchip maker SMIC (0981.HK; 688981.SH) said its revenue rose to $1.9 billion in the second quarter from $1.56 billion yuan a year earlier, while its gross profit dropped to $265 million from $317 million over that time. Its gross margin fell to 13.9% in the second quarter from 20.3% in the second quarter of 2023.
Citic Bank breezes into China’s insular tobacco sector with new investment
The bank seized on a local government debt crunch to buy a stake in regional lender Hongta Bank, providing a conduit into China's recession-proof cigarette monopoly Key Takeaways: Citic Bank…
