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Heineken beers are becoming a popular choice for stay-at-home drinkers in China, according to the end of year sales results. China was one of the top three contributors to Heineken’s net profit in 2025. Photo: Reuters
China economy

Budweiser and Heineken face polar opposite fates in China as punters stay home

Beer drinkers in China are veering away from bars and high-end restaurants, instead opting for cheaper stay-at-home options, analysts say.

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Electric & new energy vehicles

Ford plans US$30,000 budget EV line to take on Chinese rivals

China property

Sofa so bad: China’s home-furnishing sector hits a do-or-die stretch

Semiconductors

China’s tech self-sufficiency progress evident in these 2 companies

GigaDevice and Montage carve a niche in the semiconductor sector, with the global memory supercycle boosting their fortunes further.

Montage and GigaDevice are capitalising on the global memory supercycle, with the industry in the grip of a massive supply crunch. Photo: Shutterstock
Montage and GigaDevice are capitalising on the global memory supercycle, with the industry in the grip of a massive supply crunch. Photo: Shutterstock
Hong Kong stock market

Chow Tai Fook-linked firms set for record US$192 million hit in Giordano case

Hong Kong watchdog says share dealings dating back to 2016 triggered a mandatory offer obligation.

Hong Kong property

Kerry Properties secures Hong Kong’s latest residential plot for US$177 million

Kerry beat seven bidders for the rights to develop a residential project on the 1,349-square-metre parcel in the Eastern district.

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Banking & finance

Can Hong Kong’s MPF members repeat record gains in Year of the Horse?

Volatility looms in the Year of the Horse, analysts forecast, after the Year of the Snake delivered estimated earnings of US$32 billion.

People walk during lunch hour in Central, Hong Kong. In the previous Year of the Horse in 2014, MPF members earned 2.2 per cent, while in 2002 they lost 0.4 per cent. Photo: Karma Lo
People walk during lunch hour in Central, Hong Kong. In the previous Year of the Horse in 2014, MPF members earned 2.2 per cent, while in 2002 they lost 0.4 per cent. Photo: Karma Lo
Artificial intelligence

Humanoids go mainstream as China’s robotics champions appear at CCTV spectacle

ByteDance, Unitree, RedNote, Bilibili and Kuaishou among the firms involved in the unparalleled nationwide marketing opportunity.

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Artificial intelligence

ByteDance ‘strengthening safeguards’ after Seedance AI video controversy

Pledge comes after Hollywood, governments speak out against tool amid deluge of video clips featuring celebrities, copyrighted characters.

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Hong Kong stock market

Why a 2,000-fold pay gap for Hong Kong board members may be a troubling sign

Far wider disparity than other markets may indicate talent issues on the low end, lack of independence on the high end, lawmaker says.

Among companies listed on the Hong Kong stock exchange’s main board, director pay fell 3 per cent from a year earlier to HK$269,697. Photo: Shutterstock
Pop Mart

Pop Mart balances boom and bust: can Labubu’s leap match Molly’s momentum?

As Labubu’s meteoric rise cools, Molly’s longevity highlights the challenge Pop Mart faces in turning hype into stable intellectual property.

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Illustration: Brian Wang
Illustration: Brian Wang
Meituan

Meituan warns of US$3.5 billion loss amid intense food delivery price war

Food delivery giant expects losses to continue into at least the first quarter of 2026 ‘due to ongoing competition’.

China’s crackdowns

China charges former AstraZeneca executive – a sign of the times?

Foreign drug makers face pressure in the Chinese market, from tighter regulatory oversight to growing local competition.

Hong Kong property

Prince Jewellery director sells upscale Hong Kong flat, upgrades to duplex

Tang Yick-ki swaps his 1,019 sq ft flat in The Cullinan for a 1,593 sq ft duplex in The Waterfront.

The Cullinan in West Kowloon pictured in March 2015. Photo: SCMP
Germany

Mercedes to accelerate localisation as China revenue slump hits 2025 profits

Despite a weak outlook, the company unveils a strategy to further localise production in China, introduce AI-based upgrades and launch new models.

A Mercedes-Benz CLA is showcased at the Shanghai Motor Show last year. Photo: dpa
A Mercedes-Benz CLA is showcased at the Shanghai Motor Show last year. Photo: dpa
Electric & new energy vehicles

Chinese cars now can’t be sold for less than it costs to make them

Regulator bans tactics that result in a net loss per vehicle after a 7 per cent drop in the average car price.

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Artificial intelligence

China’s MiniMax releases AI model ‘designed for real-world productivity’

Company says it is ‘first frontier model … delivering on the promise of intelligence too cheap to meter’.

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Hong Kong property

Exclusive | Box office bust? The show may be over for another Hong Kong cinema

IFC Mall is reportedly looking at the big picture as it explores potential tenants to replace upscale movie theatre Palace IFC.

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Palace IFC and other Hong Kong cinemas face a shrinking audience. Photo: Jonathan Wong
Palace IFC and other Hong Kong cinemas face a shrinking audience. Photo: Jonathan Wong
IPO

Will Chinese AI chip designer Enflame’s Shanghai IPO be another blockbuster?

Tencent-backed Enflame’s listing on the Star Market could follow successful recent flotations from peers Moore Threads, MetaX and Biren.

Artificial intelligence

China’s Lenovo warns of ‘prolonged’ memory crunch, looks to AI for rebound

Top PC maker posts a 21 per cent profit drop amid chip squeeze, but bets on AI-powered devices to sustain growth amid industry upheaval.

Millionaires and billionaires

Li Ka-shing tops Hong Kong’s billionaire list with US$45.1 billion: Forbes

The collective net worth of tycoons on Hong Kong’s 50 Richest list rose 22 per cent to US$366 billion.

Li Ka-shing, dubbed “Superman” for his deal-making prowess, is Hong Kong’s richest individual. Photo: The Li Ka Shing Foundation
Artificial intelligence

Alibaba’s Qwen tops 120 million orders in 6 days amid China’s AI shopping battle

Campaign has sparked a behavioural shift towards AI-powered shopping, which Alibaba says is becoming a more popular lifestyle choice.

The number of orders signals growing acceptance of AI-powered shopping. Photo: Getty
The number of orders signals growing acceptance of AI-powered shopping. Photo: Getty
Electric & new energy vehicles

China’s efforts to control EV price war sees carmakers paying vendors quicker

Only a handful of the nearly 50 mainland China-based EV builders have been able to turn a profit amid the price wars.

Mainland China

Baidu unveils AI-driven Wikipedia challenger in bid for global users

BaiduWiki, a version of the firm’s Baidu Baike online encyclopaedia, is available in English, Spanish, French, Russian and Japanese.

IPO

Shenzhen-listed Unisplendour abandons plan to raise funds in Hong Kong

The Tsinghua Holdings arm, however, will raise US$800 million via a private share placement on Shenzhen exchange.

Unisplendour was expected to raise US$1 billion from its Hong Kong share sale this year. Photo: Reuters
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