Alibaba reports Q1 revenue up 7% YoY to ~$32.8B, below $33B est., and net income up 279% to ~$1.7B, partly due to its equity investment gains; BABA drops 5%+
Crypto Sentiment Shifts Cissy Zhou / Nikkei Asia : Alibaba's Q1 revenue falls short as international e-commerce falters Bill McColl / Yahoo Finance : Alibaba Misses Forecasts on Chinese Consumer Slowd...
Dealogic: foreign capital in China's VC industry fell 60% YoY to $3.7B in 2023, just 10% of the 2021 peak, leading to an expansion of state-backed funds
South China Morning Post :
Chinese chipmaker SMIC reports Q2 revenue up 41.6% YoY to $1.9B, vs. $1.89B est., but net profit fell 25% YoY to $514M, amid lockdowns and harsher US sanctions
South China Morning Post :
NonFungible: the average NFT selling price has declined to ~$2K, after an all-time high of ~$6.9K on January 2, with a ~40% drop since Russia attacked Ukraine
We'd be wrong to go about this week as normal. It is anything but. South China Morning Post : NFT mania cools amid Ukraine crisis as average price and sales decline from January high Andrew Hayward /...
Meituan reports Q1 revenue of $5.8B, up 120.9% YoY, and a loss of $752M; CEO says Meituan is reviewing its business practices amid China's antitrust probe
South China Morning Post : Source: PR Newswire .
Chinese food delivery giant Meituan reports revenue of $5.8B in Q4, up 35% YoY, and a loss of ~$300M as it continues to invest heavily in community group buying
South China Morning Post :
Shenzhen is giving local residents 10M yuan (~$1.47M) worth of China's new sovereign digital currency through a lottery, to test and promote the digital yuan
South China Morning Post :
Transsion, which reportedly makes ~59% of feature phones and ~34% smartphones sold in Africa, files for IPO on China's upcoming Nasdaq-like exchange in Shanghai
South China Morning Post :
How Grab expanded its taxi-hailing app to include booking cars and bikes, and ordering food; worth $10B+, it is Southeast Asia's most valuable tech startup
South China Morning Post :
Yixin, a Chinese online car marketplace and financing provider, closed up 5%+ in its Hong Kong debut on Thursday, valued at $6.5B, after raising $870M in an IPO
South China Morning Post :