Midea Chairman and CEO Fang Hongbo, right, hits the ceremonial gong as the appliance maker's shares begin trading in Hong Kong on Sept. 17. (Photo by Kenji Kawase)
Markets

Midea shares rise 8% in Hong Kong after $4bn offering

Chinese appliance maker expands issuance as bourse leans on mainland companies

17 September 2024
New World Development, a property developer under the Chow Tai Fook umbrella, warned in August that it expected to log its first annual loss in two decades. (Photo by Masayuki Kozono) 
Property

Sibling succession race heats up at Hong Kong's Chow Tai Fook group

Chengs compete as key property unit New World Development sinks into red

11 September 2024
Chinese home appliance maker Midea is set to list in Hong Kong.
Markets

Midea's $3.45bn Hong Kong share offering met with Shenzhen selloff

Appliance maker seeks more funds but dilution, discount anger current investors

9 September 2024
Hong Kong's skyline, with the International Finance Centre tower at center, developed by Henderson Land Development. (Photo by Ken Kobayashi)
Property

Hong Kong's major property developers suffer from revaluation losses

Reassessments eat into bottom lines as rents drop in weakening economy

5 September 2024
China's Fosun acquired British travel company Thomas Cook only five years ago, but now it is selling the business. (Source photos by AP)
China debt crunch

China's once-acquisitive Fosun unloads Thomas Cook after 5 years

Sale of travel brand continues downsizing effort as debt burden rises, profits drop

5 September 2024
Employees assemble cars at a plant operated by General Motors and its local joint venture partners in Liuzhou, in China's Guangxi Zhuang Autonomous Region, in February 2019.
Automobiles

SAIC-GM logs first interim net loss as China auto tie-ups struggle

Rapid electrification, price wars hit classic Sino-American partnership and others

2 September 2024
Macao in June: Some mainland Chinese are believed to use casinos in Macao as a way to circumvent strict capital controls by Beijing. (Photo by Ken Kobayashi)
Politics

Macao casinos rake in revenue as authorities target money changers

Unlicensed services for gamblers seen as path to skirt Beijing's capital controls

1 September 2024
Customers look at a model of a Poly housing project in Sanya, Hainan province, in May 2023. The state-backed company is one of several that have seen contracted sales slump.
China debt crunch

China real estate crisis batters state developers seen as better off

Units of 'central companies' hold edge on private peers but log double-digit sales drops

30 August 2024
An attendant pumps fuel at a PetroChina gas station in Nantong, in China's Jiangsu province.
Energy

China oil majors tighten investment while doling out record dividends

Sustainability in question amid downstream weakness, need for cheap Russian feedstock

29 August 2024
The Hong Kong Exchange logged a 3% decline in first-half profit although the second quarter showed more promise. (Photo by Ken Kobayashi)
Markets

Hong Kong Exchange's first-half profit sinks amid weak market sentiment

New CEO Bonnie Chan describes results as 'robust' but concedes outlook uncertain

21 August 2024
China's three state-owned telecom operators are gearing further towards higher dividend payments and lower capital expenditure. (Photo by Kenji Kawase)  
Telecommunication

China Telecom, China Mobile hike dividends under Beijing pressure

Payout ratios to go beyond 75% for state-owned telecos as need to invest recedes

21 August 2024
Bottles of Kweichow Moutai liquor are displayed at a direct sales store in Beijing in November 2020. The popular spirit brand's share prices saw a bump on Friday after posting strong first-half numbers.
Food & Beverage

Moutai bucks China liquor slump with strong results

Maker of CCP's favorite tipple regains market cap lead as baijiu rivals struggle

9 August 2024
Swire owns exclusive rights to manufacture, market and distribute Coca-Cola products in 11 Chinese provinces and the city of Shanghai.
Food & Beverage

Swire's China Coca-Cola business mired in 'subdued' spending

Group turns toward Southeast Asia with 'appetite' for residential property

8 August 2024
Cathay Pacific, Hong Kong's flag carrier, continues to recover from the COVID-19 pandemic. (Photo by Ken Kobayashi)
Transportation

Cathay Pacific logs double-digit revenue growth as costs eat into profit

$12.8bn seven-year investment plan unveiled; chairman 'confident' in city's future

7 August 2024
Plaza 66, located on the ritzy Nanjing Road in downtown Shanghai, is the major breadwinner for Hong Kong's Hang Lung Properties but has suffered from changing consumer behavior.
Property

Hong Kong developer Hang Lung's shares sink 15% after profit cut

Revenue decline at high-end mainland shopping malls 'worse than expected'

30 July 2024
Hong Kong's premier shopping mall Harbour City. "The strength of the Hong Kong dollar," which is pegged to the strong U.S. dollar, has dealt a further blow to the city's retailers, a government spokesman says. (Photo by Shinya Sawai)
Retail

Hong Kong retail hit by Shenzhen rivalry, weak mainlander spending

Wharf REIC slips to net loss while major chains report double-digit sales declines

29 July 2024
Hyundai Motor's Kona Electric SUV: The company's EV sales fell 24.7% year on year in the three months through June.
Automobiles

Hyundai Motor posts small profit increase in Q2 on hybrids

Automaker eyes more such sales as hedge against possible Trump return

25 July 2024
A Poly Developments real estate complex in Yichang, in China's Hubei Province. The state-owned company is one of the few that still rung up more than 100 billion yuan in contracted sales in the first half.
China debt crunch

China-listed developers with 100bn yuan in 1st-half sales dwindle to 5

Evergrande, Country Garden sink; military-backed Poly rises with state peers

19 July 2024
Juneyao Airlines, top, and Air China are on different earnings trajectories. (Source photos by Getty Images and Reuters)
Transportation

China's big three state airlines lag behind profitable private peers

Earnings previews show trio losing $1bn despite double-digit passenger growth

12 July 2024
Some Hong Kong-listed companies are opting for financing in yuan in pursuit of lower interest rates.
Currencies

Hong Kong-listed companies slash dollar borrowings in favor of yuan

Snack maker Want Want China cuts greenback funding by over 90% for lower rates

27 June 2024
Battery maker CATL's booth at the Beijing International Automotive Exhibition in April 2024. The manufacturer was the top recipient of state subsidies among listed mainland companies last year.
China tech

CATL tops China's corporate subsidies list, outranking oil majors

Emergence of EV-related recipients stands out as European tariffs loom

6 June 2024
The shareholders of Taiwan Cement on May 21 approved changing the company's English name to TCC Group Holdings, dropping the word "cement" to symbolize its transformation over the past seven years. (TCC Group Holdings)
Materials

Taiwan Cement drops material from name as it remodels business

Oldest Taipei-listed company pushes green transition and growth in Europe

24 May 2024
A Lenovo exhibit in Beijing in 2019. The PC maker has high hopes for artificial intelligence.
China tech

Lenovo 'optimistic' AI across product lineup will energize earnings

Chairman speaks freely yet dodges questions regarding business in Russia

23 May 2024
A woman shops at an RT Mart supermarket in Fuyang, China.
Consumer

Alibaba-controlled Chinese supermarkets drowning in red

Sign of weak consumption but new CEO admits uncompetitive pricing

22 May 2024
Hong Kong is the first place outside mainland China to use digital yuan services. (Photo by Kenji Kawase) 
Currencies

Hong Kong opens digital yuan wallets in a first for non-mainlanders

City's government supports People's Bank of China's effort to spread e-CNY

17 May 2024
Baidu showcased the low-cost robotaxi at an event in Wuhan, China, on May 15. (Photo by Shunsuke Tabeta)
China tech

Baidu launches robotaxi that costs less than half of earlier model

Chinese search engine leader expects to turn a profit in Wuhan next year

16 May 2024
The Peninsula Hotel in Hong Kong was once occupied by the Japanese military -- one of many disruptions the group has weathered through its history. 
Companies

Hong Kong hotelier Kadoorie to stay on 'as long as' health permits

82-year-old chair of Peninsula chain and power utility unfazed by succession talk

8 May 2024
Cosmetics are displayed in the window of a L’Occitane store in central Paris in February.
IPO

L'Occitane to go private in blow to Hong Kong bourse's global image

French cosmetics company to delist while city promotes itself as IPO destination

30 April 2024
Hyundai Motor is responding to a slowdown in demand for electric vehicles by offering more hybrids.
Automobiles

Hyundai Motor Q1 profit falls as EV demand weakens

Automaker says it is responding to market trends with more hybrids

25 April 2024