Business News
Latest business news and updates
Total: 2066
From Boom to Bleed: How Yuyuan’s ‘Real Estate + Retail’ Model Posted a Rmb4.8bn Loss
Yuyuan Co. posted a Rmb4.8 billion net loss in 2025, its first annual loss since listing in 1992, driven by impairment charges, property market weakness and weakening consumer demand that hit its jewellery and retail businesses. The company has accelerated asset disposals and store closures to raise cash, but margin erosion from price cuts and regulatory scrutiny raise questions about its path to recovery.
China’s EV New-Forces Hold Ground in February — But March’s New Models Will Tell Which Ones Survive
February delivery figures show China’s EV newcomers weathering a seasonal and product-cycle lull, with Leapmotor and Li Auto holding the top spots. Widespread financing incentives have become table stakes, but the real test arrives with a wave of new model launches in March and Q2 that will determine who can convert interest into profitable growth.
Middle East Escalation Sends Gold Spiking; Chinese Jewelers Hike Prices by Over ¥20/gram Overnight
A sudden escalation in the Middle East on March 2 triggered a sharp safe‑haven bid for gold, with futures briefly reported above $5,400 an ounce and London spot near $5,393. The international surge prompted major Chinese jewelers to raise pure-gold prices by more than ¥20 per gram overnight, feeding through immediately to consumers and markets.
Historic Surge: China’s Big Three Oil Majors Close at Daily Limit as Brent Jumps on Middle East Strike
China’s three state oil majors—PetroChina, Sinopec and CNOOC—simultaneously closed at their daily trading limit for the first time, driven by an abrupt spike in Brent crude following a US-Israel strike on Iran. The move reflects a rapid repricing of geopolitical supply risk after disruptions in the Strait of Hormuz and underscores how Chinese markets amplify global energy shocks.
Baidu’s High-Stakes AI Gamble: Massive Write-Downs, Shrinking Ads and an Uncertain Payoff
Baidu’s 2025 results reveal a painful transition from search advertising to AI-driven products: revenue fell to ¥129.1 billion and net profit plunged 76% after a ¥16.2 billion impairment on obsolete compute. While AI revenue grew strongly, it has not yet replaced lost ad income and the company faces intense competition and uncertainty over AI unit economics.
A New Chapter at Berkshire: Greg Abel’s First Letter Signals Continuity—and Caution
Greg Abel’s first shareholder letter as Berkshire Hathaway CEO underscores continuity with Warren Buffett’s approach while acknowledging setbacks in 2025: net income fell year‑on‑year and operating profits were weighed down by insurance weakness and write‑downs. The company retains a massive cash reserve and a concentrated equity portfolio, leaving Abel the strategic choice of how and when to deploy capital.
Why Hang Seng Tech Is Lagging: The ByteDance Problem for Hong Kong’s AI Story
The Hang Seng Tech Index has lagged regional peers as ByteDance, a private giant, siphons user attention and advertiser budgets through Douyin and new AI products. Seedance 2.0’s breakout and ByteDance’s unlisted status have heightened investor anxiety that the index cannot capture the country’s next wave of tech winners. The impasse reflects commercial disruption combined with genuine regulatory and geopolitical obstacles to a ByteDance listing.
Business Leader Urges China to Give Every Citizen ¥500 Voucher to Spur Spending — Claims It Could Unlock Nearly ¥2 Trillion
Liu Yonghao, a CPPCC member and chairman of New Hope Group, has proposed issuing a universal 500-yuan consumption voucher to every resident in China. He argues the measure — costing about ¥700 billion in issuance — could mobilise nearly ¥2 trillion in spending and support millions of service-sector jobs, while correcting a bias in past voucher schemes that favoured large retailers.
Wahaha’s Heir Trims the Sails: Daughter Shutters Robot Unit, Reversing Father’s 13-Year Diversification Drive
Zong Fuli has shut Wahaha’s robotics arm, reversing her father Zong Qinghou’s decade-long diversification into industrial automation and other non-core ventures. The move reflects a strategic pivot back to Wahaha’s beverage business, prioritising capital discipline and focus over risky, long‑cycle R&D bets in robotics.
Risk-Off Sweep Sends Hong Kong Tech Sliding as Oil and Shipping Stocks Surge
Hong Kong equities fell as investors rotated out of tech and into energy, shipping and gold stocks amid rising risk aversion. The Hang Seng slid 2.14% and the Hang Seng TECH declined 2.89%, while oil and oil‑services names and gold miners posted significant gains.
Shanghai Index Edges Higher as Oil & Gas Stocks Stage a Concentrated Surge
The Shanghai Composite rose 0.47% on heavy turnover as oil, gas and other commodity-linked sectors staged a sharp, concentrated rally. Despite the headline gain, market breadth was weak—over 4,200 stocks fell—leaving the advance dependent on a handful of resource and state-linked names.
Chinese EV Maker Leapmotor Offers Up to ¥5m for Tips on ‘Black PR’ as Auto Industry Battles Online Misinformation
Leapmotor announced a public tip line on March 2 offering rewards of ¥50,000–¥5,000,000 for verified leads exposing ‘‘black PR’’ attacks, joining other Chinese carmakers and aligning with state-led efforts to curb online disinformation. The move reflects rising corporate concern over reputational risk in the fast-growing EV sector but raises questions about incentives, evidentiary standards and the limits of crowd-sourced policing.