Consumer - FastNews - Bamboo Works - China stock insights for global investors https://thebambooworks.com/category/fast-news/consumer-fastnews/ China stock insights for global investors Tue, 14 May 2024 07:30:32 +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 Consumer - FastNews - Bamboo Works - China stock insights for global investors https://thebambooworks.com/category/fast-news/consumer-fastnews/ 32 32 FAST NEWS: Super Hi swings to the red on higher forex losses https://thebambooworks.com/fast-news-super-hi-swings-to-the-red-on-higher-forex-losses/ Tue, 14 May 2024 06:29:07 +0000 https://thebambooworks.com/?p=31996 As the international arm of Haidilao, Super Hi operated 115 restaurants in 12 countries across Asia, North America, Europe and Australia by the end of 2023.The Latest: Super Hi International Holding Ltd. (9658.HK), the international business unit of Chinese hotpot giant Haidilao (6862.HK), announced Monday that it lost $4.54 million in the first quarter of this year, mainly due to a big jump in foreign exchange losses. Looking Up: The company’s revenue for the period rose 16.6% to $188 million, boosted.....

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]]> FAST NEWS: Zeekr shares jump in New York trading debut https://thebambooworks.com/fast-news-zeekr-shares-jump-in-new-york-trading-debut/ Mon, 13 May 2024 04:54:36 +0000 https://thebambooworks.com/?p=31927 Zeekr jumped in their trading debut on Friday after pricing at $21, representing the top of their previously announced range.The Latest: Shares of Zeekr Intelligent Technology Holding Ltd. (ZK.US), the electric vehicle (EV) maker backed by leading Chinese automaker Geely, jumped in their trading debut on Friday after pricing at $21, representing the top of their previously announced range. Looking Up: The company raised about $440 million through the share sale, making it the.....

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]]> FAST NEWS: Autohome’s adjusted profit climbs in first quarter https://thebambooworks.com/fast-news-autohomes-adjusted-profit-climbs-in-first-quarter/ Thu, 09 May 2024 06:04:26 +0000 https://thebambooworks.com/?p=31817 Under the favorable environment, coupled with the satisfactory sales performance of new energy vehicles and the expansion of online marketplace services, Autohome recorded an increase in both revenue and net profit last year.The Latest: Online auto trader Autohome Inc. (ATHM.US; 2518.HK) on Wednesday reported a 3.3% drop in net profit to $54.6 million in the first quarter of this year, while its non-GAAP adjusted profit rose 2.2% to $68.4 million. Looking Up: During the period, the company’s total revenue increased by 4.9% to $223 million, mainly benefiting from increases.....

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]]> FAST NEWS: Hongjiu Fruit’s Chairman pledges shares for a loan https://thebambooworks.com/fast-news-hongjiu-fruits-chairman-pledges-shares-for-a-loan/ Wed, 08 May 2024 04:49:31 +0000 https://thebambooworks.com/?p=31773 Established in 2002, Hongjiu is one of the top three fruit sellers in China, and grew rapidly during the Covid pandemic, and capable of high revenue and profit growth between 2020 and 2022.The Latest: Fruit distributor Chongqing Hongjiu Fruit Co. Ltd. (6689.HK) announced Tuesday its controlling shareholder and chairman Deng Hongjiu pledged 23.23 million shares of the company as security for a loan totaling 96.57 million yuan ($13.4 million) from Standard Chartered Bank (China). Looking Up: By pledging the company’s shares in exchange for a loan, Deng does not need.....

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]]> FAST NEWS: Tencent reduces Keep Inc. holdings https://thebambooworks.com/fast-news-tencent-reduces-keep-inc-holdings/ Mon, 06 May 2024 05:11:57 +0000 https://thebambooworks.com/?p=31690 Keep was founded in 2015 and launched its online fitness platform business with its own structured fitness classes.The Latest: Internet giant Tencent Holdings (0700.HK) disclosed it sold 6.14 million shares of online fitness platform Keep Inc. (3650.HK) on May 2, lower its stake from 5.45% to 4.28%, according to a new Hong Kong Stock Exchange filing. Looking Up: The sale dropped Tencent’s Keep stake below the 5% threshold that requires future disclosure of any changes.....

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]]> FAST NEWS: Chabaidao’s weak debut bodes poorly for stream of new bubble tea stocks https://thebambooworks.com/fast-news-chabaidaos-weak-debut-bodes-poorly-for-stream-of-new-bubble-tea-stocks/ Wed, 24 Apr 2024 06:12:38 +0000 https://thebambooworks.com/?p=31239 Shares of Sichuan Baicha Baidao fell 26.9% from their IPO price of HK$17.50 to close at HK$12.80 in their Tuesday trading debut in Hong Kong.The Latest: Shares of Sichuan Baicha Baidao Industrial Co. Ltd. (2555.HK), also known as Chabaidao, fell 26.9% from their IPO price of HK$17.50 to close at HK$12.80 in their Tuesday trading debut in Hong Kong. Looking Up: The international portion of the offering, which typically goes to institutional investors, was slightly oversubscribed. As a result.....

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]]> 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.....

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]]> FAST NEWS: Li Ning’s e-commerce sales jump in first quarter https://thebambooworks.com/fast-news-li-nings-e-commerce-sales-jump-in-first-quarter/ Tue, 23 Apr 2024 06:15:09 +0000 https://thebambooworks.com/?p=31187 Li Ning has expanded over the years to become one of the largest sportswear chains in China, behind Anta. The Latest: Sportwear retailer Li Ning Co. Ltd. (2331.HK) announced Monday its retail sales, excluding the Li Ning Young sub-line, recorded low-single-digit year-on-year growth in the first quarter. Looking Up: The company’s e-commerce virtual stores business grew by a low-20s percentage amount during the quarter, while same-store sales for that part of its business also grew by a.....

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]]> FAST NEWS: Merger drives Luk Fook’s fourth-quarter sales growth https://thebambooworks.com/fast-news-merger-drives-luk-fooks-fourth-quarter-sales-growth/ Fri, 19 Apr 2024 07:00:32 +0000 https://thebambooworks.com/?p=31092 Merger drives Luk Fook’s fourth-quarter sales growthThe Latest: Luk Fook Holding (International) Ltd. (1361.HK) said on Thursday its retail revenue in the fourth quarter of its fiscal year through March rose 12% year-on-year, exceeding the figure for the same pre-pandemic quarter of 2019 by 10%. Looking Up: The jewelry chain’s Mainland China quarterly retail revenue increased by 7% year-on-year, while Hong Kong and Macau also.....

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]]> FAST NEWS: JPMorgan ups stake in CTG Duty Free https://thebambooworks.com/fast-news-jpmorgan-ups-stake-in-ctg-duty-free/ Tue, 16 Apr 2024 06:27:10 +0000 https://thebambooworks.com/?p=30987 CTG Duty Free is a leader in China’s duty-free market with roughly 200 shops.The Latest: U.S. banking giant JPMorgan purchased about 126,000 Hong Kong-listed shares of China Tourism Group (CTG) Duty Free Corp. Ltd. (1880.HK; 601888.SH) on April 10, raising its stake in the duty-free store operator from 7.89% to 8%, according to a new Hong Kong Stock Exchange filing. Looking Up: Such an increase by a major institutional buyer.....

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]]> FAST NEWS: Growth slows for 361 Degrees’ kids products https://thebambooworks.com/fast-news-growth-slows-for-361-degrees-kids-products/ Wed, 10 Apr 2024 06:17:33 +0000 https://thebambooworks.com/?p=30804 361 Degrees is one of China’s top four sportswear brands, alongside Li Ning (2331.HK), Anta (2020.HK) and Xtep (1368.HK), and focuses on smaller second- and third-tier cities that tend to be less profitable than major urban centers.The latest: Sportswear retailer 361 Degrees International Ltd. (1361.HK) announced that retail sales for its core brand grew by a “high-teens” percentage in this year’s first quarter year-on-year, according to a business update released on Wednesday. Looking up: The company’s e-commerce business grew by about 20% to 25% during the quarter, mainly due to the launch of e-commerce.....

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]]> FAST NEWS: EHang’s aerial vehicle approved for production https://thebambooworks.com/fast-news-ehangs-aerial-vehicle-approved-for-production/ Tue, 09 Apr 2024 05:52:15 +0000 https://thebambooworks.com/?p=30753 Autonomous aerial vehicle (AAV) maker EHang Holdings announced Sunday its passenger-carrying unmanned aerial vehicle (UAV) has obtained a production certificate from the Civil Aviation Administration of China (CAAC).The latest: Autonomous aerial vehicle (AAV) maker EHang Holdings Ltd. (EH.US) announced Sunday its passenger-carrying unmanned aerial vehicle (UAV) has obtained a production certificate from the Civil Aviation Administration of China (CAAC), following its receipt of type and standard airworthiness certificates, making it the world’s first electric vertical takeoff and landing (eVTOL) aircraft with all three certificates. Looking.....

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