financial results Archives

Fosun Terminates Business Engagement With Moody’s Rating Service

Chinese conglomerate Fosun International Limited has stated that it officially notified Moody's on October 12 of its decision to terminate business engagement with the rating service, ceasing to provide relevant information on the firm effective from that day.

WM Motor Founder’s Annual Salary Reaches $176M as Losses Mount

A prospectus released recently by Chinese EV maker WM Motor has triggered hot debate in the country. The high pay received by Freeman Shen, the firm's Founder, Chairman and CEO, has drawn scrutiny amid declining company revenue and major losses.

Meituan Reports Over $6.9B Revenues in Q1, Up 25% YoY

Meituan, China's leading e-commerce services platform, announced on Thursday its unaudited consolidated results for the three months ended March 31, 2022.

China’s Proptech Platform Beike Announces $1B Share Repurchase Plan

KE Holdings Inc., also known as Beike, a leading integrated online and offline platform for housing transactions and services, announced on Tuesday its unaudited financial results for the first quarter ended March 31, 2022.

Luckin Coffee Denies Plan for Hong Kong IPO

News emerged on Monday that Chinese beverage chain Luckin Coffee is considering carrying out a public listing in Hong Kong as its business gets back on track. However, the company issued a statement denying such reports.

Muddy Waters Research Company Shorts Chinese Real Estate Trading Platform KE Holdings

On Thursday, Muddy Waters Research released a report on its latest short-selling target: a U.S.-listed, China-based real estate trading platform, KE Holdings, pushing its shares down as much as 10% in premarket trading.

Sinotau Pharmaceutical Group Completes $50 Million D+ Round of Financing with Focus on Radiopharmaceutical R&D

Sinotau Pharmaceutical Group announced in a document on Thursday that it has completed a D+ round of financing worth 320 million yuan ($50.03 million). The funds raised are for clinical R&D of new radioactive drugs.

Xpeng’s Revenues Increase 27.5% From Previous Quarter, Vehicle Delivery Surpasses 17 Thousand Units

Xpeng on Thursday announced its unaudited financial results for the second quarter of this year. The firm's total revenues were 3.761 billion yuan during the second quarter, representing an increase of 27.5% from the previous quarter.

Tencent Music’s Net Profits Attributable to Equity Holders Dropped 12% in Q2

Tencent Music Entertainment Group on Monday announced its 2021 Q2 financial report, showing net profits attributable to equity holders of the company reaching 1.12 billion yuan ($173 million), a decrease of 12% year-on-year.

Nio Reports $1.3 Billion in Total Revenue for Q2 2021

According to a financial report released Wednesday by Nio, its revenue for Q2 this year reached 8.45 billion yuan ($1.3 billion), a year-on-year increase of 127.2%.

Alibaba Delivers Q2 Financial Results, Indicates Largest Share Repurchase Program in Company’s History

Alibaba Group on Tuesday announced its financial results for the second quarter of this year. The company shows confidence in its long-term prospects by increasing its share repurchase program from $10 billion to $15 billion.

Delivery Company Backed by Logistics Giant SF Holding Files IPO in Hong Kong

A subsidiary of leading Chinese logistics firm SF Holding, Tongcheng Industrial Co., Ltd., submitted a listing application to the Hong Kong stock exchange on Wednesday, aiming to gain a leg up in the intensifying price war across the industry.

JD.com-owned Dada Group Delivers Strong Q1 Results Boosted by Demand in Lower-Tier Markets

Chinese on-demand delivery and retail platform Dada Group on Tuesday reported a 52% jump in first quarter revenue from a year earlier, as the company tries to expand its network to the country’s lower-tier cities and rural areas.

ByteDance’s Rival Kuaishou Shares Slide as Live-streaming Revenue Drops and Losses Widen

Kuaishou Technology, the operator of the second most popular short-video platform after Douyin, saw its stock tumble as much as 11.6% on Tuesday after the company reported a 7.3 billion yuan ($1.14 billion) loss the previous day.

Tencent to Ramp Up Investment on Back of Strong Q1 Performance

Tencent Holdings on Thursday reported a 25% gain in first quarter revenue from a year earlier, as the Chinese tech giant pledged to further ramp up investment across various areas.

Tencent Music Entertainment Admits Regulatory Pressure After Delivering Solid Q1 Performance

Chinese streaming giant Tencent Music Entertainment (TME) confirmed on Tuesday that it is facing heightened scrutiny from antitrust regulators after reporting better-than-expected first quarter financial results the previous day.

Bilibili Releases Its Q1 Financial Report after Debut in Hong Kong

Bilibili, a leading video community for younger generations, on Thursday released its unaudited financial results for the first quarter of this year.

Nio Beats Revenue Estimates, Expects Q2 Deliveries Growth Despite Chip Shortage Challenge

Chinese electric vehicle (EV) maker Nio Inc. posted better than expected first quarter results, despite being forced to halt production in late March due to the global semiconductor shortage.

Buffett-Backed BYD Releases Strong 2020 Financial Results as New Energy Vehicle Sales Hits Record High in China

Chinese carmaker BYD unveiled its 2020 financial results on Monday with net profit jumping 162% year-on-year to 4.23 billion yuan ($643.72 million) thanks to a recovery of demand in the world’s largest automotive market.

Tencent-Backed Beike Shows Strong Performance for Fiscal 2020

Beike, a housing transaction and services platform listed on the New York Stock Exchange, published its unaudited financial result for the fiscal year 2020 on Monday.

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