Business News
Latest business news and updates
Total: 3085
Flash Crash in Precious Metals: Gold Suffers 40-Year Intraday Drop as Silver Plunges 36%
A dramatic overnight sell-off saw spot silver plunge as much as 36% and spot gold fall over 12% intraday, with both metals closing substantially lower. The rout followed a rebound in the dollar after news that President Trump would nominate Kevin Warsh as the next Fed chair, and was amplified by crowded positioning and thin liquidity. The move raises questions about market positioning, Fed independence and the durability of metals as an inflation hedge.
Profit Turnaround for Oriental Selection, but Dong Yuhui’s Shadow Looms Large
Oriental Selection has returned to profit after a turbulent year, driven mainly by steep cost‑cuts and a shift to self‑operated goods, prompting a strong stock market reaction. Yet its recovery is fragile: GMV remains below prior peaks, app membership has declined and the company still depends heavily on Douyin traffic while former anchor Dong Yuhui’s independent operation soars.
From County Mine to Trillion‑RMB Powerhouse: How Chen Jinghe Built China’s Gold Empire
Zijin Mining, under founder Chen Jinghe, has grown from a indebted county mine into a multi‑trillion‑RMB metals conglomerate by combining technical innovation, corporatisation and opportunistic, counter‑cycle acquisitions. Recent large purchases and a global uptick in commodity prices have dramatically expanded its reserves and market value, while Chen personally retains only a small share of the company he built.
Musk’s $800bn: A Paper Fortunes Built on Future Narratives and Risky Valuations
Elon Musk’s reported $800 billion net worth stems primarily from recent revaluations of his equity in private ventures, notably xAI and SpaceX, rather than liquid assets. That wealth is highly concentrated and dependent on optimistic long‑term narratives for space, AI and autonomous driving — making it vulnerable to sudden market repricing if those narratives weaken.
China Optical-Module Supplier Poised for Near-Double Profit as AI-Driven Data‑Center Spend Surges
Zhongji Xuchuang forecast a near‑doubling of 2025 net profit to RMB 9.8–11.8 billion, driven by surging demand for high‑speed optical modules from data‑centre and compute expansion. The guidance highlights how AI and cloud capex are boosting suppliers in China’s photonics supply chain, though cyclical demand and competitive pressures pose risks to sustainability.
China Invites Pensions, Insurers and Public Funds to Become ‘Strategic’ Shareholders — with a 5% Floor
The CSRC has proposed amendments to permit major long-term institutional investors — including the national social security fund, pension schemes, insurers, mutual funds and bank wealth products — to qualify as strategic investors in targeted equity issuances. The draft sets a default minimum stake of 5%, requires active governance participation and strengthens disclosure and anti-evasion rules to ensure these investors act as genuine sources of patient capital.
Hubei’s Rise: From Optics Valley to an Industrial Backbone Driving China’s Next Wave of Tech and Manufacturing
Hubei is accelerating its shift from low‑end manufacturing to higher‑value, tech‑intensive industries centred on Wuhan’s Optics Valley, electric vehicles, autonomous driving and biotech, while modernizing agriculture and cleaning up polluting industries. The province’s successes illustrate how regional industrial policy, targeted investment and university‑hospital‑industry collaboration can build supply‑chain resilience and new export capabilities.
Wingtech Warns of Multibillion‑RMB Hit After Dutch Ruling Restricts Control of Nexperia Unit
Wingtech says it expects a 2025 net loss of RMB 90–135 billion after Dutch regulatory and court actions have restricted its control of Anshi (Nexperia). The firm will book significant investment losses and asset impairments, putting heavy strain on its finances and underscoring the geopolitical risk in cross‑border semiconductor deals.
China’s Largest Domestic Winemaker Warns of Nearly 80% Profit Collapse as Premium Wine Sales Slump
Yantai Changyu (Zhangyu A) expects 2025 net profit to plunge about 75–82% as demand for wine — especially mid and premium segments — weakens. The company’s outlook is compounded by smaller one‑off disposal gains than in 2024, ongoing trademark litigation and a loss of index inclusion, highlighting structural challenges for China’s traditional wine sector.
AI Data‑centre Build‑outs Drive Chinese Optical‑Module Profits to Historic Peaks — But Growth Is Uneven
China's leading optical‑module makers have issued 2025 profit forecasts that reflect a surge in demand from AI data‑centre deployments. Xinyisheng and Zhongji Xuchuang expect historically large, core‑business‑driven profit gains, while Tianfu Communication posts solid but smaller growth, underscoring an uneven competitive landscape.
China Signals Capital‑Market Push for the Next Five Years: More Listings, Easier Refinancing and Tighter Oversight
China’s securities regulator, led by Wu Qing, held a meeting with listed‑company representatives to shape capital‑market priorities for the next five years. The CSRC pledged reforms to listing and refinancing rules, deeper market tier integration and measures to attract long‑term capital, while stressing risk prevention and stronger supervision.
Shuibei Shock: How a Livestream Gold Platform’s High‑Leverage Bets Triggered a Tens‑of‑Billions Crisis
A livestream‑built Shenzhen gold retailer, Jieweirui, suspended withdrawals after leveraged, option‑style products it sold to retail customers blew up amid sharp rises in precious‑metal prices. The firm's unlicensed, high‑leverage mini‑program ecosystem created large asymmetric exposures and possible illegal fundraising, affecting investors across many provinces and threatening Shuibei’s reputation as a jewellery hub.