Corporate Profiles

Corporate business news on companies from Hong Kong and overseas.
  1. Now that it is on the cusp of regaining the crown as the world’s leading initial public offering (IPO) market, the Hong Kong stock exchange is counting on some of its biggest stocks to attract sufficient trading to stave off competition from mainland bourses.That may be a tall order, as trading activity wanes amid political turmoil and mainland Chinese exchanges ramp up their efforts to keep listings of China’s fastest-growing companies in their home markets.Hong Kong Exchanges and Clearing…
  2. Wang Ranran took home 18,000 yuan (US$2,580) in her pay packet in November, a career-high that included a bonus twice her base salary, as manager of a car-park management company in Beijing.Her daily routine starts at 8am by making sure the smart parking system at Soho Tianshan Plaza displays the accurate traffic flow and parking sessions in the 1,000-bay facility in Hongqiao business hub operated by her employer, Sunsea Parking.Aided by the on-site system, the 32-year-old executive easily…
  3. China’s Star Market, the Nasdaq-style tech board launched this year, will extend its stellar IPO performance into 2020, with up to 150 firms likely to raise up to 160 billion (US$22.9 billion) yuan, according to Deloitte China.A total of 68 companies have raised 72.7 billion yuan on the Shanghai Stock Exchange’s Science and Technology Innovation Board since it opened in July.“The Star board has revitalised China’s IPO market. It has successfully attracted a lot of companies, particularly from…
  4. China is behind multifarious efforts around the world to tell the story of its rise to prominence in the 21st century; critics call it communist propaganda, supporters say standard public relations. Whatever the view, the Czech Republic seems an unlikely venue for this clash of national narratives, but a local news report alleging a Czech billionaire was secretly funding a pro-China public relations campaign in the country has become the talk of Prague. News outlet Aktualne says that leaked…
  5. China’s government has given the green light to set up a duty-free zone at Shanghai’s port and the city’s free-trade zone, in the biggest step yet to bypass Hong Kong as the midway stop in easing global commerce with the worldwide marketplace.A fenced customs area will be established at Shanghai’s Yangshan Deep Sea Port and at the Lingang free-trade zone (FTZ), where cargo inside the bonded area will be exempted from import duties, according to the November 4 circular by the The General…
  6. Hong Kong and China stocks soared on Friday, propelled by reports that the US and China have reached an agreement on a “phase one” trade deal.The Shanghai Composite Index posted its best daily performance in nearly four months. The benchmark jumped 1.8 per cent to close at 2,967.68, recording the biggest daily gain since August 19. The Shenzhen Component Index rose 1.7 per cent to 10,004.62.In Hong Kong, the Hang Seng Index closed 2.6 per cent higher at 27,687.76, making it the third straight…
  7. Cosmetics giant L’Oreal will develop Prada Group’s fragrance business, in the first step of a licensing agreement to run the Italian fashion house’s luxury beauty products.Starting January 1, the parent company of Maybelline, Kiehl’s and Urban Decay will be in charge of creating, developing and distributing Prada’s high-end beauty products, according to an announcement to the Hong Kong stock exchange on Thursday.It comes after Hong Kong-listed Prada decided not to renew its current perfume…
  8. Samsung Electronics will increase investment at its chip factory in China by US$8 billion to boost production of NAND flash memory chips, Chinese media reported on Tuesday.The South Korean group’s investment comes as the memory market is expected to rebound next year because of limited supplies and rising demand for fifth-generation devices and networks.Samsung is the world’s largest maker of NAND flash memory chips, which can hold data permanently and are found in mobile devices, memory cards,…
  9. Apple’s iPhone shipments in China fell more than 35 per cent in November, marking their second straight double-digit decline as sales of the cheaper iPhone 11 remained sluggish, brokerage Credit Suisse said on Thursday.Shares of the company fell more than 1 per cent to 267.67 in early trading.Total iPhone shipments in China in the September-November period dropped 7.4 per cent from a year earlier, Credit Suisse analyst Matthew Cabral said, citing data from China’s Ministry of Industry and…
  10. As an ex-McKinsey consultant and a frequent business traveller, Hongkonger Caecilia Chu was all too familiar with having to fork out foreign transaction fees on her credit card. Calculated over time, the amount could range from hundreds to even thousands of dollars.Eager to find a solution that would eliminate such fees, Chu decided to launch her own fintech start-up, YouTrip, with co-founder Arthur Mak. Specifically targeted at countries in Southeast Asia, YouTrip offers users a multicurrency…