Business News
Latest business news and updates
Total: 1178
Tencent’s AI Push Goes From Labs to Ledger: Strong 2025 Results Mask a Strategic Pivot on Compute, WeChat Agents and ‘Shrimp’ Apps
Tencent’s 2025 results showed healthy revenue and profit growth while signalling an intensifying corporate pivot to AI. Management plans to double AI investment this year, is privately testing a major new foundation model, and is deploying AI across games, advertising and cloud, but is constrained by GPU supply and faces tough productisation and privacy challenges for a future WeChat agent.
Crypto Slump Deepens as Ethereum Slides Below $2,200; Bitcoin Nears $71,500
On March 18, bitcoin fell about 3.8% to $71,438.80 while ethereum plunged roughly 6.1% to $2,198.66, pushing ether below a key psychological support. The sharper decline in ethereum highlights ongoing market fragility, leverage risks in derivatives, and potential balance-sheet pressure for crypto holders.
Major Shareholder to Pocket ¥200m as Smart‑home Pioneer Faces Profit Slump and R&D Cuts
Haotaitai’s major shareholder plans to sell about 12.07 million shares, potentially raising ~¥200m and bringing total insider proceeds to ~¥274m after earlier disposals. The sale coincides with falling annual profits, shrinking R&D spending and consumer complaints about product quality and after‑sales service, undermining investor confidence in the smart‑home appliance maker.
Tencent Tops Estimates as Cloud Business Reaches Scaled Profitability, Buoyed by Enterprise AI Demand
Tencent beat fourth-quarter expectations with net profit of RMB 58.26 billion and revenue of RMB 194.37 billion, and said its cloud business has reached scaled profitability thanks to rising enterprise AI demand and stronger PaaS/SaaS uptake. While gaming and value-added services outperformed estimates, fintech and enterprise services slightly missed forecasts; the company proposed a final dividend of HKD 5.30 per share.
Hong Kong Tech Lifted by AI Hype and Memory Chip Rally as MiniMax Surges Nearly 20%
Hong Kong stocks ticked up as AI large‑model developers and memory semiconductor makers led a concentrated rally, with MiniMax surging nearly 20% and GigaDevice advancing double digits. The move reflects investor optimism about AI monetisation and cloud pricing, though risks from valuation froth, chip cyclicality and geopolitical constraints persist.
China’s Market Police Tighten Discipline: CSRC Vows to Remove ‘Roadblocks’ to Capital‑Market Reform
The China Securities Regulatory Commission held a March 17 meeting to tighten party discipline and anti‑corruption work across the regulator as 2026 begins the 15th Five‑Year Plan. The CSRC pledged stepped‑up investigations, stronger oversight of senior officials, and institutional reforms aimed at eliminating obstacles to capital‑market reform while enforcing investor protection.
GAC and Huawei’s New Challenger: AISTALAND’s GT7 Aims to Turn AI Hype into Market Share
GAC has launched AISTALAND and its first model, the GT7, in partnership with Huawei’s QianKun unit and CATL, aiming to blend AI software, lidar and a new battery to capture the RMB 300,000 EV segment. The brand plans rapid retail expansion and a second SUV within a year, but faces a crowded market and unresolved questions about the GT7’s full technical competitiveness.
China’s Crackdown Closes In on Yirenzhike: Lending Engine That Fueled Growth Faces a Regulatory Dead End
China’s financial regulator has targeted Yixianghua, the lending conduit for Yirenzhike, for practices including opaque fees and forced disbursements. The 9th regulation — capping annualised costs at 24% and folding all charges into a comprehensive rate while tightening bank partner lists — directly undermines the platform’s core revenue model, forcing strategic pivots that are unlikely to replace lost margins quickly.
Huawei-Backed AISTALAND Debuts GT7 Wagon as GAC Stakes Its Future on an AI-First Car Brand
GAC has launched AISTALAND, backed and deeply integrated with Huawei’s QianKun unit, debuting the GT7 wagon as a technology-forward, mid-priced model. The project combines Huawei’s AI, LiDAR and cockpit systems with GAC’s manufacturing, and aims to fast-track a new retail network and a second SUV model this year. The venture tests whether Huawei’s embedded-partner approach can convert tech credibility into market share in a crowded premium EV segment.
SAIC Volkswagen Goes Big on Range Extenders with the ID. ERA 9X — A German JV’s China-First Flagship
SAIC Volkswagen has launched the ID. ERA 9X, a China-developed flagship SUV using a range-extender architecture that pairs a 65.2 kWh battery with a Volkswagen EA211-derived 1.5T engine. The model is designed to compete in the emergent ‘9-series’ halo segment dominated by domestic EV specialists, and will test the JV’s local R&D, marketing and integration capabilities.
iFlytek Denies Massive Layoff Rumours as Strong Cash Flow and AI Demand Bolster Guidance
iFlytek has denied online rumours of a major layoff affecting around 1,500 staff and low severance terms, with its PR vice-president calling the reports false. The company reported strong 2025 guidance—projected net profit of RMB 785–950 million—and record operating cash flow above RMB 3 billion, driven by scaled AI deployments and some government project subsidies.
BMW’s Big China Price Cuts Signal a Tactical Retreat as BBA Confronts Electrification and Local Competition
BMW has instituted sweeping price cuts on 31 models in China, with steep reductions across its lineup and entry prices at historic lows. The adjustments, echoed by Mercedes and Audi, reflect immediate inventory pressures and a longer-term market shift as electric, software-centric Chinese rivals erode the premium once enjoyed by German marques.