Trip.com Gets Boost From Reopening Global Borders

China’s top online travel agent returned to profitability in the second quarter as a growing number of countries where it does business outside its home market lifted travel restrictions Key Takeaways: Strongly recovering business in the U.S. and Europe helped Trip.com return to the black with a 69 million yuan profit in the second quarter The company said outbound bookings from Hong Kong jumped nearly four times last week from the previous week as the city prepared to end its quarantine requirement By Ken Lo After two years in deep…

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FAST NEWS: Smart Share Global’s Second-Quarter Revenue Sags on Covid Closures

The latest: Smart Share Global Ltd. (EM.US), a supplier of rentable power banks, on Thursday reported its revenue fell 29% in the second quarter to 690.5 million yuan ($99 million). The company reported a loss of 184.5 million yuan for the period, compared with an 8.2 million yuan profit a year earlier. Looking Up: The company forecast it will record revenue of between 770 million yuan and 800 million yuan in the third quarter, whose midpoint represents a milder 19% year-on-year decline. Take Note: Despite the big revenue decline, the…

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FAST NEWS: CanSino’s Inhaled Covid Booster Gets China Green Light

The latest: CanSino Biologics Inc. (6185.HK; 688185.SH) announced on Sunday that China’s National Medical Products Administration (NMPA) have given emergency use authorization for its inhaled recombinant Covid-19 vaccine for use as a booster vaccine. Looking up: CanSino says the vaccine not only stimulated humoral and cellular immunity, but also induced mucosal immunity to achieve triple comprehensive protection against Covid-19 without an injection. The inhaled vaccine also has unique advantages of painlessness and convenience. Take Note: The company said that although the vaccine was authorized for emergency use, it will still face…

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FAST NEWS: Weibo Profit Tumbles on Sliding Ad Revenue

The latest: Weibo Corp. (WB.US; 9898.HK) on Thursday reported its revenue dropped 22% to $450 million in the second quarter, while its net profit plunged 65% to $28.3 million. Looking up: The company’s non-GAAP operating margin improved to 32% in the second quarter from 29% in the first, benefiting from continued cost optimization and efficiency improvements. Take Note: The company’s core advertising and marketing revenue, which accounts for about 86% of its total, decreased 23% year-over-year to $386 million in the second quarter. Digging Deeper: Often called the “Twitter of China,”…

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FAST NEWS: Yixin Returns to Profits as Loan Intermediary Revenue Surges

The latest: Internet-based auto financier Yixin Group Ltd. (2858.HK) announced Monday that its revenue jumped 73.2% year-on-year to 2.45 billion yuan ($358 million) in the first half of the year, as it returned to the black with a net profit of 124 million yuan. Looking up: The company logged 266,000 auto financing transactions in the first half of the year, up 17% year-on-year. The value of those transactions jumped by an even larger 37% to 25 billion yuan, even as demand for vehicles shrank due to weak spending tied to…

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Viva Biotech Dispenses Bitter Pill of Slowing Growth, Asset Devaluation

The contract drug services provider lost roughly 100 million yuan in the first half of this year, as its revenue growth underperformed its peers Key Takeaways: Viva Biotech’s eked out a scant 5% revenue growth in the first half of the year and fell into the red, even as other peers in China’s CXO sector performed much better Changing values of the company’s investments are largely behind big fluctuations in its performance in recent years By Molly Wen Despite broader malaise for Hong Kong’s bustling field of pharma stocks, one…

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FAST NEWS: Supply Chain Financing Disruptions Drag Down Linklogis Profit

The latest: Supply chain financing solutions provider Linklogis Inc (9959.HK) announced Thursday that it expects to post an adjusted profit of 125 million yuan ($18.5 million) to 130 million yuan for the first half of the year, down 14.5% to 17.8% from 152 million yuan in the same period last year. Looking up: The company’s gross profit and gross margin increased in the first half, benefiting from optimization of its product structure. The group has also started to optimize its organizational structure and improve operational efficiency to control operating expenses, with…

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FAST NEWS: Store Closure Impairment Loss Turns Haidilao Red

The latest: China’s leading hot pot chain Haidilao International Holding Ltd. (6862.HK) on Sunday warned it expects to post a loss of 225 million yuan ($37.7 million) to 297 million yuan for the first half of the year, reversing a 96.5 million profit a year earlier. Looking up: The company said performance of its restaurants has improved markedly since June with the pandemic’s easing. It added it will implement proactive measures to control rent and other operating costs, and use credit and equity financing to ensure a healthy cash flow. Take Note: The…

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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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FAST NEWS: Maoyan’s Profit Havled as Pandemic Weighs on Movie Distribution

The latest: Maoyan Entertainment (1896.HK), China’s main online movie ticketing platform, issued a profit warning Wednesday, forecasting its net profit for the first half of the year would range between 130 million yuan ($19 million) and 180 million yuan, down 53.5% to 66.4% from 387 million yuan in the same period last year. Looking up: Since June 2022, with the gradual improvement of Covid-19 pandemic prevention and control measures in China, the entertainment industry has slowly rebounded. The operating rate of cinemas nationwide has recovered to over 80%, which is favorable…

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