A Li Auto assembly line in Jiangsu province’s Changzhou. The carmaker delivered 376,030 premium EVs to mainland Chinese customers in 2023, a jump of 182 per cent year on year. Photo: Xinhua

Li Auto forecasts first-quarter sales drop, reports record profit

The bearish forecast was revealed after Li Auto reported a record quarterly profit that beat analysts’ expectations.

1 hour ago

BYD aspires to take on Ferrari, Lamborghini with a US$233,000 super EV

The Warren Buffett-backed carmaker is accepting bookings for the 1.68 million yuan (US$233,400) supercar with a deposit of 300,000 yuan. Deliveries are expected to start in the summer.

The Warren Buffett-backed carmaker is accepting bookings for the 1.68 million yuan (US$233,400) supercar with a deposit of 300,000 yuan. Deliveries are expected to start in the summer.

2 hours ago

Zong Qinghou, Chinese billionaire founder of Wahaha beverage group, dead at 79

Zong Qinghou turned a small drinks distributor into a beverage conglomerate that bested French partner Danone to dominate the China market.

Zong Qinghou turned a small drinks distributor into a beverage conglomerate that bested French partner Danone to dominate the China market.

25 Feb 2024 - 9:57PM

Meituan, Didi in the spotlight as China stresses gig workers rights

Platforms should send app notifications to remind workers to take a break if they have been working longer than the hours agreed, according to new government guidelines.

Platforms should send app notifications to remind workers to take a break if they have been working longer than the hours agreed, according to new government guidelines.

3 hours ago

From Chelsea to Bayern Munich, brands eye China’s recovering sports market

Policy support measures and post-Covid sports activities have contributed to growth, executives say at an industry summit in Macau attended by Yao Ming and Dwyane Wade.

Policy support measures and post-Covid sports activities have contributed to growth, executives say at an industry summit in Macau attended by Yao Ming and Dwyane Wade.

24 Feb 2024 - 9:52PM

Opinion

The likely impact of the US lender’s collapse is that China’s tech elite will look to banks in Hong Kong, Singapore and even Europe.

14 Mar 2023 - 7:28AM
15 Feb 2023 - 1:46AM
30 Jan 2023 - 4:15PM

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Lotus Technology’s first EV, the Lotus Eletre. Photo: Handout

Lotus Tech to launch autonomous driving cars in 60 Chinese cities this year

The company, a division of British sports car company Lotus Group in which Chinese carmaker Zhejiang Geely Holding owns a majority stake, will focus on the premium segment despite cheap models dominating the mainland EV market.

6 hours ago

Chinese watchdog denies plan to inspect a decade of listed firms’ financial data

The CSRC does not have plans to examine 10 years of public company financial reports, Yan Bojin, head of public offering supervision, said on Friday.

The CSRC does not have plans to examine 10 years of public company financial reports, Yan Bojin, head of public offering supervision, said on Friday.

23 Feb 2024 - 8:20PM

Macau poised to drive development of bay area’s sports industry, summit hears

Macau is setting the stage to become a key driver of the Greater Bay Area’s sports sector, as the city looks to tap its tourism strengths and expand its economy beyond the gaming industry, a conference heard.

Macau is setting the stage to become a key driver of the Greater Bay Area’s sports sector, as the city looks to tap its tourism strengths and expand its economy beyond the gaming industry, a conference heard.

26 Feb 2024 - 12:38PM

Tuhu expects 2023 profit as post-pandemic travel boosted demand for car repairs

Tuhu Car, a Chinese car maintenance and repair company listed in Hong Kong, said it expects its financial results for 2023 to reflect a turnaround in its business as a post-pandemic rebound in domestic travel boosted demand for its services.

Tuhu Car, a Chinese car maintenance and repair company listed in Hong Kong, said it expects its financial results for 2023 to reflect a turnaround in its business as a post-pandemic rebound in domestic travel boosted demand for its services.

23 Feb 2024 - 4:17PM

Google AI shows racially diverse people in historically white scenes

Users posted screenshots of historically white-dominated scenes with racially diverse characters that Gemini generated, raising questions about whether Google is overcorrecting for the risk of racial bias.

Users posted screenshots of historically white-dominated scenes with racially diverse characters that Gemini generated, raising questions about whether Google is overcorrecting for the risk of racial bias.

23 Feb 2024 - 11:48AM

Hong Kong stocks trim weekly rally as traders lock up gains, China equities jump

The Hang Seng Index capped a third week of gains despite a choppy trading on Friday as traders banked on more China policies to lift stock prices. New home prices fell in fewer mainland cities last month.

The Hang Seng Index capped a third week of gains despite a choppy trading on Friday as traders banked on more China policies to lift stock prices. New home prices fell in fewer mainland cities last month.

23 Feb 2024 - 5:42PM

Reddit files for IPO, with OpenAI CEO listed as major shareholder

Artificial intelligence will become an important part of Reddit’s business, the San Francisco-based social media company says.

Artificial intelligence will become an important part of Reddit’s business, the San Francisco-based social media company says.

23 Feb 2024 - 10:40AM

Major Hong Kong banks to roll out additional anti-malware measures: HKAB

The Hong Kong Association of Banks, which represents all 160 banks in the city, also pledged to ensure personal data privacy as it steps up the mitigation of fraud risks.

The Hong Kong Association of Banks, which represents all 160 banks in the city, also pledged to ensure personal data privacy as it steps up the mitigation of fraud risks.

22 Feb 2024 - 9:53PM

Sino Land, Hysan expect last year’s ‘uncertainties’ to loom over sector in 2024

Sino Land and Hysan Development, two major Hong Kong property developers, expect ‘uncertainties’ to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday.

Sino Land and Hysan Development, two major Hong Kong property developers, expect ‘uncertainties’ to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday.

22 Feb 2024 - 8:35PM

Developer Sunshine 100 is studying impact of liquidation order against top shareholder

Embattled mainland Chinese property developer Sunshine 100 is evaluating the impact of a winding-up order against its controlling shareholder, Joywise Holdings, according to a filing with the Hong Kong exchange.

Embattled mainland Chinese property developer Sunshine 100 is evaluating the impact of a winding-up order against its controlling shareholder, Joywise Holdings, according to a filing with the Hong Kong exchange.

22 Feb 2024 - 7:30PM

Chinese driverless tech firm gets fresh funds as intelligent cars’ appeal grows

Haomo.AI, an autonomous driving technology start-up backed by Great Wall Motor, has raised 100 million yuan (US$13.9 million) in a new round of financing buoyed by Chinese drivers’ growing appetite for intelligent vehicles.

Haomo.AI, an autonomous driving technology start-up backed by Great Wall Motor, has raised 100 million yuan (US$13.9 million) in a new round of financing buoyed by Chinese drivers’ growing appetite for intelligent vehicles.

22 Feb 2024 - 6:32PM

Trip.com’s revenue and profit surged as Chinese tourists gave in to wanderlust

Revenue at China’s largest online travel platform doubles to 10.3 billion yuan (US$1.8 billion) last quarter, underpinning record earnings for the full year. Shares closed at an all-time high of HK$355.20 in Hong Kong.

Revenue at China’s largest online travel platform doubles to 10.3 billion yuan (US$1.8 billion) last quarter, underpinning record earnings for the full year. Shares closed at an all-time high of HK$355.20 in Hong Kong.

22 Feb 2024 - 6:29PM

Hong Kong stocks jump on record Trip.com run while Alibaba, SMIC fuel tech rally

Local stocks rallied as Trip.com closed at an all-time high and Nvidia’s bullish forecast fuelled tech gains. China’s onshore stocks also logged an impressive winning streak not seen since July 2020.

Local stocks rallied as Trip.com closed at an all-time high and Nvidia’s bullish forecast fuelled tech gains. China’s onshore stocks also logged an impressive winning streak not seen since July 2020.

22 Feb 2024 - 5:14PM

Apple boosts iMessage encryption to thwart quantum computing attacks

The company says its latest upgrade makes iMessage more secure than WhatsApp, Telegram, Skype, QQ, WeChat – or even Signal.

The company says its latest upgrade makes iMessage more secure than WhatsApp, Telegram, Skype, QQ, WeChat – or even Signal.

22 Feb 2024 - 10:59AM

Nvidia expects threefold jump in sales despite US chip curbs on China

The AI poster child’s revenue has continued to grow despite tightened restrictions on trade with one of its largest markets: China.

The AI poster child’s revenue has continued to grow despite tightened restrictions on trade with one of its largest markets: China.

22 Feb 2024 - 10:20AM