financial report Archives

Tencent’s Net Revenue and Profit Declines in 2022, Q4 Net Profit Increases By 19%

Leading Chinese tech firm Tencent released its 2022 Q4 and full-year financial report on March 22.

HUYA 2022 Q4 and Full Year Earnings Analysis: Q4 Revenue in Line, Achieving Stable User Performance While Promoting Operational Efficiencies

On March 21, 2023, Huya Inc., a leading game live streaming platform in China, has released its 22Q4 and full year financial results, achieving steady quarterly and yearly user scales, with its 2022Q4 total net revenues in line with market consensus.

XPeng Reports $0.96B Q3 Revenue, US Stock Price up 6.53%

XPeng, a leading Chinese electric vehicle company, on November 30 announced its unaudited financial results for the third quarter of 2022. Its total revenues were 6.82 billion yuan ($0.96 billion) for the third quarter, representing a year-on-year increase of 19.3%.

PDD Says It Needs to Invest More on Innovation, Warns Profit Levels Not Sustainable

PDD Holdings, the multinational commerce group that operates the Pinduoduo and Temu platforms, said that it’s unlikely to sustain current profitability with planned increases in technology investments amid intense industry competition.

Xiaomi Sees Annual Decline in Q3 Net Profits and Revenue, Car Production Ran Smoothly

Xiaomi released its financial report for the third quarter of 2022 on November 23. Its revenue in the period was 70.47 billion yuan ($9.87 billion), down 9.7% year-on-year. Net profits were -1.476 billion yuan, while adjusted net profits were 2.117 billion yuan, down 59.1% year-on-year.

Baidu Reports $4.57B Q3 Revenue and Abundant Free Cash Flow

Chinese tech and Internet giant Baidu announced on November 22 its unaudited financial results for the third quarter ended September 30, 2022, beating market consensus, with Baidu Core's non-GAAP operating profit increasing by 14% year over year.

Tencent Distributes Meituan Shareholding Worth of $20B

On November 16, Tencent released its financial report for the third quarter of 2022, and announced its decision to distribute most of its shares in Meituan, which will be completed in March next year. Tencent President Martin Lau has resigned as a non-executive director of Meituan.

China Construction Bank Responds to Sudden System Failure

Many consumers in mainland China reported on the morning of November 16 that attempted money transfers were unsuccessful when using the mobile app of China Construction Bank, one of the country's "big four" banks, triggering extensive social media discussion.

HUYA 2022 Q3 Earnings Analysis: Efforts in Technology Advancement, Product Upgrade and Quality Content Help Improve Huya’s Resilience in Uncertain Environment

China’s major game live streaming platform Huya Inc., has announced its third quarter 2022 financial results on November 15. Huya has recorded quarter-on-quarter growth in the total net revenues and net income, with the average mobile MAU of Huya Live increasing steadily to 86 million.

Adidas’s Q1-3 Revenue in China Down Over 25%

Adidas announced its financial results for the third quarter of 2022 on November 9. The firm's performance in Greater China, its former growth engine, continued to exhibit poor results.

Real-time Interactive Service Provider Agora to Lay Off 30% of Employees

Agora, a Nasdaq-listed real-time voice and video engagement service provider, is carrying out a business adjustment with the "optimized" proportion of personnel positions to be about 30%.

Battery Giant CATL’s Q3 Profit Increases by 188.42% YoY

Chinese battery giant CATL disclosed its third-quarter financial report on October 21, showing its revenue reaching 97.4 billion yuan ($13.4 million) in the third quarter and 210.34 billion yuan ($29 million) in the first three quarters.

BYD Responds to Stake Cut by BlackRock, World’s Largest Asset Manager

World-leading asset manager BlackRock launched a reduction in BYD H shares, bringing its shareholding ratio from 6.21% to 5.85%.

BYD Predicts Minimum Q3 Profits of $765M, Annual Performance to Exceed Expections

Chinese electric vehicle maker BYD announced on October 17 that it expects net profits in the third quarter to reach between 5.505 billion and 5.905 billion yuan ($764.79 million - $820.36 million), an increase of 334%-365% from the same period last year.

CATL’s Q3 Profits Exceed $1.22B, Setting New Record

A financial report for Chinese battery giant CATL released on October 10 showed that its net profits for the third quarter of this year are expected to total between 8.8 billion and 9.8 billion yuan ($1.22 billion - $1.36 billion), up 169% to 199% year-on-year.

Report: ByteDance Did Not Lose $84.9B in 2021 as Claimed

TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.

NIO Sees Large Increase of Net Losses in Q2

NIO, a leading company in the premium smart electric vehicle market, reported total revenues of 10,29 million yuan ($1,536 million) in the second quarter of 2022, representing a year-on-year increase of 21.8%.

Baidu Reports Total Revenues of $4.43B, Driven by Baidu AI Cloud up 31% YoY

Beijing-based AI giant Baidu, Inc announced on August 30 its unaudited financial results for the second quarter ended June 30, 2022.

Chongqing Xiaomi Consumer Finance Posts H1 Net Loss of $13.47M

Chongqing Rural Commercial Bank, which is listed on the Hong Kong Stock Exchange (HKEx), disclosed on August 25 its latest semi-annual report, also mentioning the performance of its joint venture Chongqing Xiaomi Consumer Finance Co., Ltd., which owns its shares.

BYD’s H1 Net Profits Exceed Full Year of 2021

Shenzhen-based automotive firm BYD released a financial report on August 29, showing that its revenue in the first half of this year reached 150.607 billion yuan ($21.8 billion), a year-on-year increase of 65.71%.

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