SPONSORED: IoT Platforms Offer Greener Future for Industrial and Commercial Scenarios

IoT products and services can help industrial and commercial users better manage energy consumption and meet ESG goals The following article has been written with material supplied by Tuya The global fixation on carbon neutrality has put energy conservation and emissions reduction in the spotlight all the way down to the household level. At the same time, big progress is also happening in industrial and commercial scenarios. Market research firm CCID Consulting estimates industrial use accounts for as much 70% of carbon emissions, followed by construction and transportation. Among other…

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Many Idea Cloud to Float Shares in Hong Kong Amid Stormy Skies

The integrated marketing solutions provider faces uncertainty as many of its core consumer goods clients suffer from pandemic-related disruptions Key Takeaways: Many Idea Cloud has filed for a Hong Kong IPO after two earlier unsuccessful experiments aimed at tapping China’s A-share market The company is highly dependent on clients in the fast-consumer goods and clothing industries that have been hit hard by the pandemic By Stone Shek A Covid storm is taking a toll on Many Idea Cloud Holdings Ltd., a digital marketing services provider whose customers rely on consumer…

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Dingdong Rings Up First-Ever Profit. But Investors Don’t Buy It

Online grocer reports a 20.6 million yuan second-quarter non-GAAP profit, fueled by buying surge from Shanghai customers during city’s two-month lockdown Key Takeaways: Dingdong reported its first-ever non-GAAP profit in the second quarter, buoyed by strong demand during Shanghai’s two-month lockdown in April and May Company promises to achieve sustained profitability and stick to its super-fast delivery model despite recent woes of major rival By Trevor Mo The recent woes of Missfresh Ltd. (Nasdaq: MF) have cast an uneasy spotlight on the capital-intensive business model used by some of China’s…

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Techtronic Powers Down After Covid Boom

Power tool maker’s revenue grew just 10% in the first half of 2022, much slower than last year’s 52% rate, as DIY activity returned to more normal levels with the pandemic’s easing Key Takeaways: Techtronic’s growth slowed dramatically in the first half of this year as spending on home improvements dropped with the easing of the pandemic Company is focused on cost control and inventory reduction as its business returns to more traditional levels following a brief boom during the pandemic By Doug Young Nearly everyone suffered during the global…

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Luckin Brews Up Hot Results on Rapid Expansion, Diversified Footprint

China’s leading coffee chain’s revenue rose 72% in the second quarter, even as most of its peers reported declines due to Covid-related disruptions Key Takeaways: Luckin Coffee reported strong revenue and profit growth in the second quarter, banking on a rapid expansion and winding down of expenses related to an earlier accounting scandal Company has adopted a hybrid model of using self-operated stores in major cities, while working with partners to open stores in smaller markets By Doug Young Chinese restaurants and coffee shops got hammered in the second quarter,…

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Autohome Weathers Covid Storm, Revs Up for Speedier Second Half

The Internet auto-sales platform’s revenue grew 17.7% sequentially in the second quarter, showing resilience in the face of China’s pandemic disruptions Key Takeaways: Autohome’s revenue rose strongly on a sequential basis in the second quarter despite a year-on-year decline, sparking a rally for its stock Company should benefit in the second half from new vehicle launches and government measures to stimulate vehicle consumption By Lau Ming What is it about an internet auto platform whose profits declined in the second quarter that has still managed to win over investors? For…

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Tim Hortons China Brews Up Explosive Growth Plan Using Tech and Localization

The soon-to-be U.S.-listed coffee chain is aiming for 2,750 Chinese stores by 2026, equal to nearly half of Starbuck’s current count Key Takeaways: Tim Hortons China is aiming to open nearly 3,000 stores in China over five years, banking on technology and localization to fuel its rapid expansion Company needs to be careful to avoid mistakes of chains like Costa and Krispy Kreme, which closed or sputtered after initially announcing similar major expansion plans By Doug Young Fasten your seat belts! Tim Hortons China, known locally as Tims China, is…

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No Good Times Here, as Gome Slashes ‘FUN’ E-Commerce Unit

Former retailing giant makes massive cuts at its recently launched service combining online shopping with social networking and entertainment Key Takeaways: Gome is scaling back its e-commerce push that was part of a drive to regain its former glory, making massive layoffs at its FUN online unit.  Company’s revenues stagnated last year as its transition to e-commerce stalled, similar to the fate of other older brick-and-mortar retailers like its former rival Suning By Trevor Mo In early 2021, former retailing magnate Huang Guangyu was unequivocal when asked about his next…

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Tumbling Profits Fail to Slow Jiumaojiu’s Appetite for Expansion

The restaurant chain known for its Tai Er brand of ‘sauerkraut fish’ said its profit fell 70% in the first half of the year on Covid disruptions and a rapid expansion Key Takeaways: Jiumaojiu warned its profit plummeted by 70.4% in the first half of the year due to pandemic disruptions and rising expenses from new store openings Company is valued much higher than its peers, reflecting investor optimism about its prospects By Tina Yip The past seven months have been a sour time for restaurants throughout China. Even investor…

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Country Style Cooking Chain Joins Chinese Fast Food Listing Rush

Spicy Sichuan food server is one of three restaurant chains looking to become the first Chinese fast food stock with a Hong Kong IPO bid Key Takeaways: Chinese fast food chain Country Style Cooking Restaurant, which expanded rapidly in recent years, has filed to list on the Hong Kong Stock Exchange for a second time The company’s earnings have been shaken by the Covid pandemic and the Shanghai lockdown pushed it into the red for first the five months of this year By Ken Lo A restaurant chain selling the…

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