Topsports Takes Time to Hit Its Stride after Covid and Supply Woes

The sportswear retailer posts lower full-year profits but gives out special dividends in the hope of shoring up investor confidence Key Takeaways: Topsports revenue and profit both fell by around 12% in the last fiscal year due to the pandemic and supply chain disruptions The company looks undervalued, but investors are watching to see if business picks up in the next couple of quarters By Fai Pui A sporting goods firm with a network of megastores and big-brand partners might hope to be coasting towards healthy profits when China is…

Read More »

FAST NEWS: Hello Group Reports Lower Revenue and Profit in First Quarter

The latest: Dating app operator Hello Group Inc. (MOMO.US) reported a non-GAAP net profit of 399 million yuan ($60 million) in the first quarter, down 37.1% from 634 million yuan in the same period last year, according to its latest results published on Tuesday. Looking up: The company’s first-quarter revenue decreased 9.3% year-over-year to 3.15 billion yuan, slightly higher than analysts’ expectations of 3.13 billion yuan, with value-added services revenue up 1.9% to 1.48 billion yuan. Take Note: The company expects revenue for the second quarter to range from 3.05 billion to 3.15 billion yuan, a…

Read More »

‘World Champion’ WM Motor Joins China EV Race to Market With Hong Kong Listing Plan

Money-losing Shanghai-based electric vehicle maker seeks $1 billion in new funding as it faces growing competition from crowded field of local rivals Key Takeaways: •      WM Motor has filed for a Hong Kong IPO to reportedly raise up to $1 billion, competing with a handful of similar listed Chinese EV startups •      The company’s sales have surged in the past few years, but so have costs and competition as China aggressively promotes clean technologies By Rajiv Sekhri Chinese electric vehicle (EV) maker WM Motor Holdings Ltd. is charging ahead into…

Read More »