FAST NEWS: Yixin surges on strong profit, revenue gains
The Latest: Auto financier Yixin Group Ltd. (02858.HK) said on Thursday its revenue rose 29% last year to 6.69 billion yuan ($930 million), while its net profit jumped 50% to 555 million yuan. Looking Up: The…
FAST NEWS: Baidu sees big potential in Ernie Bot as profit drops
The Latest: Leading search engine Baidu Inc.’s (9888.HK, BIDU.US) revenue rose 6% year-on-year to 35 billion yuan ($4.92 billion) in the fourth quarter, while its net profit fell 48% to nearly 2.6 billion…
NEWS WRAP: iQiyi growth stalls in fourth quarter, as it posts first annual profit
The Baidu-backed video streaming platform became profitable after a major strategy shift in 2022, but now faces new challenges from China’s slowing economy By Teri Yu iQiyi Inc. (IQ.US),…
Joyy stuck with unwanted China business after $3.6 billion Baidu sale collapses
The livestreaming company may be forced to find a new buyer for its Chinese business at a far lower price after its sale to Baidu announced in 2020 failed to…
Shrinking Lemeng faces uphill road to New York IPO
The advertising services company’s revenue contracted 16% in the first half of 2023, as it seeks to raise about $20 million from a U.S. listing Key Takeaways: Lemeng’s revenue fell…
PODCAST: Baidu launches its ERNIE chatbot, and Baozun in a major new foreign tie-up
By Doug Young & Rene Vanguestaine Baidu has officially made its ERNIE chatbot available to the public, a half year after it first unveiled its answer to the ChatGPT sensation.…
CHINA BULLETIN: Beijing Gets Serious on Economic Stimulus
In this week’s issue government stimulus heats up, U.S. Commerce Secretary calls on Beijing, and Huawei rejoins the smartphone race. On a scale of 1 to 100, we give the week a 55 for offshore-listed China stocks.
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