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Visitors inspect a BYD Atto 2 electric vehicle during the Big Motor Sale 2026 automotive showcase in Bangkok, Thailand, on August 21. Photo: EPA
Electric & new energy vehicles

BYD posts US$1.2 billion profit in second quarter on surging global demand

The Chinese EV giant beat market estimates in the second quarter, as booming exports helped offset a prolonged decline in the domestic market.

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HKEX

HKEX Tech 100 adds Pony AI, WeRide in index revamp targeting AI stocks

Semiconductors

China’s CXMT posts massive 870% revenue surge as ‘aggressive expansion’ pays off

Artificial intelligence

MiniMax boosts Alibaba cloud budget 220% to fuel next-gen AI models

Chinese AI firm burns through two-thirds of its cloud budget by June, forcing a dramatic increase in its Alibaba deal ceiling.

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MiniMax has raised its three-year purchase ceiling on its cloud computing deals with Alibaba to US$1.2 billion. Photo: Getty Images
MiniMax has raised its three-year purchase ceiling on its cloud computing deals with Alibaba to US$1.2 billion. Photo: Getty Images
Hong Kong stock market

Bitcoin rally and Alibaba share purchases: the numbers moving markets

Alibaba shares, bitcoin, Hong Kong second-hand home prices and Shein’s IPO plans in spotlight this week.

Insurance

China Life’s revenue surges as insurer plans deeper push into AI and biotech

Company pledges long-term support for tech-innovation after revenue jumps 81 per cent and net profit soars 228 per cent.

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China’s private sector

China’s commercial space sector expands global footprint with Thailand deal

GalaxySpace describes mission as first turnkey satellite export to a Southeast Asian customer by a Chinese commercial space company.

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A Long March-6C carrier rocket carrying seven satellites blasts off from the Taiyuan Satellite Launch Centre in Shanxi province on Tuesday. Photo: Xinhua
A Long March-6C carrier rocket carrying seven satellites blasts off from the Taiyuan Satellite Launch Centre in Shanxi province on Tuesday. Photo: Xinhua
Electric & new energy vehicles

Chinese battery giant CATL spreads investments in search of new growth drivers

World’s largest producer of lithium-ion batteries for EVs and energy storage systems has committed over 17 billion yuan to non-battery deals.

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Banking & finance

Hong Kong expands AI sandbox with new projects spanning dozens of partners

Regulators select 36 use cases involving dozens of financial institutions and tech partners to test AI use in onboarding, payments, claims and customer service.

Hong Kong stock market

Dovish or Hawkish? Markets await Warsh’s Jackson Hole debut for policy clues

Investors are watching closely for shifts in interest-rate and monetary policy during Friday’s symposium.

US Federal chairman Kevin Warsh holds a press conference on July 29. Photo: Reuters
Hong Kong stock market

China’s Akeso says cancer drug beat AstraZeneca’s Imfinzi in phase 3 trial

The biliary tract cancer trial is the latest breakthrough for Akeso’s ivonescimab, which has also shown promise in treating some lung cancers.

China’s biopharmaceutical firms are increasingly looking to compete directly on the global market. Photo: Shutterstock
China’s biopharmaceutical firms are increasingly looking to compete directly on the global market. Photo: Shutterstock
IPO

China’s robotics IPO wave gains steam as 2 more firms eye Hong Kong listings

The two start-ups plan to launch IPOs as early as next year, as Hong Kong becomes a key launch pad for China’s rapidly scaling robotics industry.

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China energy security

China’s CNOOC rakes in record first-half profit on high oil prices amid Iran war

China’s largest offshore oil and gas producer saw net profits jump over 23 per cent in the first half amid turbulence in the Middle East.

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Accounting and auditing

PwC International must face trial of Evergrande scandals claims: Hong Kong court

Liquidators seek claims of about 38 billion yuan from PwC International for Evergrande audit failures.

Signage appears on the Australian head office building of PWC in Australia. Photo: AP
China consumption

Takeaway boom, new brands make up winning mix for Chinese hotpot chain Haidilao

Takeaway emerges as Haidilao’s fastest-growing segment as it diversifies its formats, expands into lower-tier markets despite a soft economy.

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Haidilao’s upbeat results come against a weak macroeconomic backdrop and fierce competition in China’s catering sector. Photo: Shutterstock
Haidilao’s upbeat results come against a weak macroeconomic backdrop and fierce competition in China’s catering sector. Photo: Shutterstock
Hong Kong stock market

Amos Food hungry for Hong Kong capital to expand global sweets empire

The confectionery firm’s Peelerz gummies have become a viral sensation on TikTok. Now, it aims to raise funds to expand its overseas presence.

China stock market

China dividend stocks back in vogue as AI trade fizzles out and bond yields fall

Shanghai bourse dividend index shows growth of 4.1 per cent for energy, banking and transport industry stocks, beating AI’s 0.2 per cent loss.

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DeepSeek

DeepSeek targets 2027 listing as pre-IPO funding nears close: sources

Landmark round to lift Chinese start-up’s valuation to US$74 billion and set the stage for a Shanghai Star Market listing, sources say.

The DeepSeek logo on a wall in Hangzhou, eastern China's Zhejiang province. Photo: Getty Images
The DeepSeek logo on a wall in Hangzhou, eastern China's Zhejiang province. Photo: Getty Images
2026 Xi-Trump summits

US sanctions Chinese firms trading with Iran

Trump administration seeks to stop companies in China and elsewhere conducting business with Iran.

Hong Kong stock market

China rushes to develop Moderna-style cancer vaccines amid market frenzy

Chinese biotech firms are already working on more than 100 cancer vaccines. Now, many are seeing their shares surge amid Moderna’s breakthrough.

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Financial crime

As Beijing targets cross-border corruption, Hong Kong markets brace for impact

For decades, Hong Kong has drawn affluent Chinese wanting to build up their wealth through stock listings or asset acquisitions.

A view of the city skyline from inside the Hong Kong Convention and Exhibition Centre in Wan Chai. Photo: Sam Tsang
Wuxi Biologics

WuXi Biologics posts 4.3% rise in first-half profit, defying biotech headwinds

Higher gross margins, surging projects and continued demand from North American markets help power the drug developer’s strong first-half performance.

Wuxi Biologics is a pharmaceutical research and services company based in Wuxi, Jiangsu province, China. Photo: Shutterstock
Wuxi Biologics is a pharmaceutical research and services company based in Wuxi, Jiangsu province, China. Photo: Shutterstock
China’s private sector

As bubble tea craze cools in China, can full equity buyouts revive growth?

Bain Capital’s acquisition of Gong Cha may signal a shift in bubble tea investment strategy, as sector slows after years of rapid expansion.

Electric & new energy vehicles

China’s new traffic safety law set to clarify liability for fully automated cars

Lawmakers are set to establish clear liability standards for self-driving cars, a move that could open the floodgates for next-gen vehicles.

Medicine

Overseas licensing has helped fuel China’s biotech profits. Will it last?

Out-licensing deals have overtaken IPOs as the primary lifeline for cash-starved Chinese drug makers, analysts say.

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Asset id: 2156561481 Cross-border out-licensing deals are proving profitable for Chinese drugmakers. Photo: Shutterstock Images
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