FAST NEWS: Chicmax’s profit skyrockets on growth of Kans brand
The Latest: Skincare products maker Shanghai Chicmax Cosmetic Co. Ltd. (2145.HK) reported Thursday its net profit surged more than three times to 412 million yuan ($58 million) in the first half of…
Xiaohongshu’s new funding: Return to old times or end of a chapter?
The social e-commerce company, whose name means ‘Little Red Book,’ scored a relative rarity by attracting Western big-name DST in its latest funding round Key Takeaways: Xiaohongshu was valued at…
Weibo pins hope on Olympics to boost its advertising revenue
The veteran Chinese social media platform been losing market share to video-based competitors such as Douyin, Kuaishou and Xiaohongshu Key Takeaways: Weibo’s first-quarter revenue fell 4%, hit by declining income…
Out with the old… Tencent sells app store to Huya
Weeks after offloading its animation business, Tencent has sold its overseas app store to the livestream gaming platform Huya Key Takeaways: Huya is looking to use the APKpure acquisition to…
East Buy ditches tuition to become pure e-commerce player
The former leader in online education is shedding its remaining tutoring business to concentrate on livestreaming and online product sales Key Takeaways: East Buy is selling its tutoring business to…
East Buy turns Douyin setback into publicity coup
The livestreaming company found itself in the spotlight when one of its Douyin channels was blocked, and seized the chance to promote its own e-commerce platform Key Takeaways: East Buy…
Kuaishou investors cheer profit news and buyback plan
The short-video platform posted a modest adjusted profit in the first quarter, stemming the flow of red ink for the first time since its IPO Key Takeaways: Kuaishou’s quarterly revenue…
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