Ecommerce - FastNews - Bamboo Works - China stock insights for global investors https://thebambooworks.com/category/fast-news/ecommerce-fastnews/ China stock insights for global investors Thu, 16 May 2024 05:59:28 +0000 en-GB hourly 1 https://wordpress.org/?v=6.1.1 https://thebambooworks.com/wp-content/uploads/2022/12/cropped-BBW_website_icon_20221228-32x32.png Ecommerce - FastNews - Bamboo Works - China stock insights for global investors https://thebambooworks.com/category/fast-news/ecommerce-fastnews/ 32 32 FAST NEWS: ZTO Express profit falls, maintains high gross margin https://thebambooworks.com/fast-news-zto-express-profit-falls-maintains-high-gross-margin/ Thu, 16 May 2024 05:59:24 +0000 https://thebambooworks.com/?p=32044 Logistics provider ZTO Express announced Thursday its net profit fell 13% year-over-year to 1.45 billion yuan ($201 million) in the first quarter of 2024.The Latest: Logistics provider ZTO Express (Cayman) Inc. (ZTO.US; 2057.HK) announced Thursday its net profit fell 13% year-over-year to 1.45 billion yuan ($201 million) in the first quarter of 2024, but its non-GAAP net profit rose 15.8% to 2.22 billion yuan. Looking Up: The company’s parcel volume grew 13.9% in the first quarter to 7.17 billion, and it expects the.....

The post FAST NEWS: ZTO Express profit falls, maintains high gross margin appeared first on Bamboo Works.

]]> FAST NEWS: New Oriental boosts East Buy stake for fourth time this year https://thebambooworks.com/fast-news-new-oriental-boosts-east-buy-stake-for-fourth-time-this-year/ Fri, 26 Apr 2024 06:25:31 +0000 https://thebambooworks.com/?p=31357 Since ceasing its K-12 online tutoring business last year following a government crackdown, East Buy has transformed into a livestream e-commerce platform.The Latest: New Oriental (EDU.US; 9901.HK) purchased 1 million shares of its East Buy Holding Ltd. (1797.HK) subsidiary for an average price of HK$17.39 on April 24, according to a new Hong Kong Stock Exchange filing. Looking Up: With the latest purchase, New Oriental has now boosted its stake in East Buy four times this year,.....

The post FAST NEWS: New Oriental boosts East Buy stake for fourth time this year appeared first on Bamboo Works.

]]> FAST NEWS: Cango announces new $50 million share repurchase plan https://thebambooworks.com/fast-news-cango-announces-new-50-million-share-repurchase-plan/ Wed, 24 Apr 2024 05:23:03 +0000 https://thebambooworks.com/?p=31223 Cango announces $50 million share buybackThe Latest: Car trading platform operator Cango Inc. (CANG.US) on Tuesday announced a new program to purchase up to $50 million worth of its American depositary shares (ADS) on the open market over the next 12 months. Looking Up: Based on Cango’s latest market value of about $180 million, the share repurchase could boost its.....

The post FAST NEWS: Cango announces new $50 million share repurchase plan appeared first on Bamboo Works.

]]> FAST NEWS:  Alibaba continues aggressive share buyback https://thebambooworks.com/fast-news-alibaba-continues-aggressive-share-buyback/ Wed, 03 Apr 2024 07:08:59 +0000 https://thebambooworks.com/?p=30609 Alibaba buys back more stockThe Latest: E-commerce giant Alibaba Group Holding Ltd. (BABA.US; 9988.HK) said it spent $4.8 billion in the first quarter of this year to repurchase its American depositary shares (ADS) under its ongoing buyback program. Looking Up: The company expanded its share repurchase program in March 2022 from $15 billion to $25 billion, reflecting its strong.....

The post FAST NEWS:  Alibaba continues aggressive share buyback appeared first on Bamboo Works.

]]> NEWS WRAP: Dada’s loss narrows as it cleans house  https://thebambooworks.com/news-wrap-dadas-loss-narrows-as-it-cleans-house/ Tue, 26 Mar 2024 07:56:08 +0000 https://thebambooworks.com/?p=30292 Dada posts small revenue growth in Q4The intra-city delivery arm of JD.com said its revenue rose slightly in last year’s fourth quarter, as it seeks to get back on track after a recent accounting scandal    By Teri Yu Dada Nexus Ltd. (DADA.US), the intra-city on-demand delivery arm of Chinese e-commerce company JD.com (JD.US; 9618.HK), reported on Monday that its revenue.....

The post NEWS WRAP: Dada’s loss narrows as it cleans house  appeared first on Bamboo Works.

]]> FAST NEWS: J&T’s loss narrows on strong Southeast Asia business https://thebambooworks.com/fast-news-jts-loss-narrows-on-strong-southeast-asia-business/ Mon, 25 Mar 2024 05:19:29 +0000 https://thebambooworks.com/?p=30232 The Bamboo Works provides news on Chinese companies listed in Hong Kong and the United States, with a strong focus on mid-cap andThe latest: Logistics provider J&T Global Express Ltd. (1519.HK) announced Friday its non-GAAP adjusted loss last year narrowed 71% to 432 million yuan ($60 million). Looking up: J&T‘s revenue grew 21.8% to 8.85 billion yuan last year, mainly due to higher turnover from China, Southeast Asia and other new markets. It delivered 3.24 billion parcels in.....

The post FAST NEWS: J&T’s loss narrows on strong Southeast Asia business appeared first on Bamboo Works.

]]> NEWS WRAP: PDD posts triple-digit growth, mulls diversification beyond U.S. https://thebambooworks.com/pdd-posts-triple-digit-growthmulls-diversification-beyond-the-us/ Thu, 21 Mar 2024 08:55:25 +0000 https://thebambooworks.com/?p=30127 PDD delivers triple digit growthThe discount e-commerce giant attributed its strong growth to recovering consumption from increasingly cost-conscious consumers in China By Teri Yu  Discount Chinese e-commerce company PDD Holdings Inc. (PDD.US) on Wednesday delivered triple-digit quarterly revenue growth that beat market expectations, banking on recovering demand at home and steady gains in its movement abroad. PDD operates e-commerce site Pinduoduo.....

The post NEWS WRAP: PDD posts triple-digit growth, mulls diversification beyond U.S. appeared first on Bamboo Works.

]]> FAST NEWS: ZTO Express profit rises despite lower revenue per order https://thebambooworks.com/fast-news-zto-express-profit-rises-despite-lower-revenue-per-order/ Wed, 20 Mar 2024 06:23:44 +0000 https://thebambooworks.com/?p=30043 ZTO is one of the most profitable companies in China’s ultra-competitive parcel delivery business.The latest: Logistics provider ZTO Express (Cayman) Inc. (ZTO.US; 2057.HK) reported Wednesday its annual net profit rose 28.5% year-over-year to 8.76 billion yuan ($1.22 billion) in 2023, while its non-GAAP net profit rose 29.4% to 9 billion yuan. Looking up: The company’s parcel volume grew 23.8% to 30.2 billion last year, fueling an 8.6% increase in its revenue.....

The post FAST NEWS: ZTO Express profit rises despite lower revenue per order appeared first on Bamboo Works.

]]> FAST NEWS: OneConnect’s loss narrows on aggressive cost controls https://thebambooworks.com/fast-news-oneconnects-loss-narrows-on-aggressive-cost-controls/ Tue, 19 Mar 2024 05:59:56 +0000 https://thebambooworks.com/?p=29996 Financial technology services provider OneConnect announced its net loss narrowed 58.4% to 363 million yuan in 2023.The latest: Financial technology services provider OneConnect Financial Technology Co. Ltd. (OCFT.US; 6638.HK) announced Monday that its net loss narrowed 58.4% to 363 million yuan ($50.4 million) in 2023. Looking up: The company’s operating loss dropped by 62.5% to 368 million yuan for the year, helped by a more than 30% reduction in R&D, selling and.....

The post FAST NEWS: OneConnect’s loss narrows on aggressive cost controls appeared first on Bamboo Works.

]]> FAST NEWS: Kanzhun surges on strong profit, share repurchase plan https://thebambooworks.com/fast-news-kanzhun-surges-on-strong-profit-share-repurchase-plan/ Wed, 13 Mar 2024 07:26:30 +0000 https://thebambooworks.com/?p=29644 The latest: Kanzhun Ltd. (BZ.US; 2076.HK), operator of the Boss Zhipin recruitment app, reported a net profit of 1.1 billion yuan ($153 million) for 2023, far ahead of its 107 million yuan profit in 2022. Its adjusted net profit for the year, which excludes share-based compensation expenses, rose 170% to 2.16 billion yuan. Looking up:.....

The post FAST NEWS: Kanzhun surges on strong profit, share repurchase plan appeared first on Bamboo Works.

]]> FAST NEWS: Supply chain financer Linklogis’ loss widens https://thebambooworks.com/fast-news-supply-chain-financer-linklogis-loss-widens/ Tue, 12 Mar 2024 06:10:42 +0000 https://thebambooworks.com/?p=29586 Supply chain financing solutions provider Linklogis said on Monday it expects to report a net loss of 455 million yuan to 465 million yuan for last year, far bigger than its 13 million yuan loss in 2022.The latest: Supply chain financing solutions provider Linklogis Inc. (9959.HK) said on Monday it expects to report a net loss of 455 million yuan ($63.4 million) to 465 million yuan for last year, far bigger than its 13 million yuan loss in 2022. Looking up: The large loss owed partly to higher impairment losses on financial assets,.....

The post FAST NEWS: Supply chain financer Linklogis’ loss widens appeared first on Bamboo Works.

]]> FAST NEWS: Weimob boosts stake in movie producer https://thebambooworks.com/fast-news-weimob-boosts-stake-in-movie-producer/ Thu, 07 Mar 2024 06:49:09 +0000 https://thebambooworks.com/?p=29413 E-commerce services provider Weimob announced on Wednesday that it agreed to acquire an additional 24.4% of Shanghai Banfan Information Technology, with a transaction value of 31 million yuan, boosting its stake to 53.5%.The latest: E-commerce services provider Weimob Inc. (2013.HK) announced on Wednesday that it agreed to acquire an additional 24.4% of Shanghai Banfan Information Technology, with a transaction value of 31 million yuan (4.3 million), boosting its stake to 53.5%. Looking up: Banfan is engaged in the business of film and television production and distribution, as well as the.....

The post FAST NEWS: Weimob boosts stake in movie producer appeared first on Bamboo Works.

]]>