Corporate Profiles

Corporate business news on companies from Hong Kong and overseas.
  1. Hong Kong Exchanges and Clearing has gained support among fund managers and stockbrokers for its mooted plan to attract more tech giants to list in the city by allowing expanding the use of dual-class shares.The city’s exchange has proposed allowing corporate shareholders, as well as founders and key managers, to own shares with more voting rights than other shareholders. The exchange is collecting views on its plan until Sunday.While fund managers and stockbrokers remain wary of allowing a…
  2. AliExpress, the cross-border e-commerce business of Alibaba Group Holding, aims to enlist more than 100,000 online influencers from around the world this year, helping create original content designed to attract and engage more users to the platform.This social commerce strategy, which has proven successful in China, is being introduced outside China via AliExpress Connect, a new part of Alibaba’s English-language global business-to-consumer marketplace, according to a statement from AliExpress…
  3. Microsoft's former head of artificial intelligence and research Harry Shum has been appointed chairman of the board of News Break, a Silicon Valley-based news aggregator with Chinese venture capital backing, the start-up announced on Wednesday.“As one of the brightest minds in the technology industry, Harry brings a wealth of technical leadership and business savvy to the company that we will leverage to grow News Break into the world's No. 1 Intelligent Local News Platform,” said Jeff Zheng,…
  4. Muyuan Foods, China’s largest pig farmer by market value, expects hog prices to fall over the next two to three years, as the industry’s output recovers from a sweeping epidemic that decimated the country’s herd by 40 per cent at one point.The African swine fever, harmless to humans but fatal to pigs, spread to China in late 2018 and propelled a national crisis as the price of pork surged fourfold to a historical high of 41 yuan per kg through November last year. The price of the most important…
  5. Tencent Holdings is casting a wider net for content from console gaming developers, in search of intellectual property (IP) to create the next blockbuster, as the company races to meet increased global demand for new games.Analysts expect Tencent, which runs the world’s largest video games business by revenue, to pursue more collaborations and investments in the console gaming sector, following its recent deals with Japanese developers Marvelous and PlatinumGames.“Creating and publishing mobile…
  6. Apple has bought machine-learning start-up Inductiv, adding to more than a dozen artificial intelligence-related acquisitions by the technology giant in the past few years.The engineering team from Waterloo, Ontario-based Inductiv joined Apple in recent weeks to work on Siri, machine learning and data science. Apple confirmed the deal, saying it “buys smaller technology companies from time to time and we generally do not discuss our purpose or plans”.Inductiv developed technology that uses AI…
  7. Alibaba Health Information Technology said on Wednesday it would strengthen partnerships with upstream pharmaceutical companies to further expand its direct online drug sales, after reporting a narrower net loss for the full year of 2019, thanks to wider adoption of online drug purchases during the coronavirus pandemic.The flagship health care platform of Alibaba Group Holding said its net loss for the year ended March 31, 2020 narrowed 92 per cent to 6.59 million yuan (US$919,488) from 81.95…
  8. At a factory near Germany’s border with the Czech Republic, Volkswagen’s ambitious strategy to become the global leader in electric vehicles (EVs) is coming up against the reality of manufacturing during a pandemic.The assembly lines in the German town of Zwickau, which produce Volkswagen’s soon-to-be released ID.3 electric hatchback, are the centrepiece of a plan by the world’s biggest carmaker to spend 33 billion euros (US$36 billion) by 2024 developing and building EVs. At the site, where an…
  9. The Shanghai Stock Exchange is considering the first overhaul of its benchmark index in three decades so that it better reflects China’s increasingly hi-tech economy, according to people familiar with the matter.The exchange is planning to adjust the timing for newly listed stocks to be included in the index and remove some chronically loss-making shares, said two of the people, who asked not to be identified as the matter is private. As part of a long-term overhaul under consideration, the…
  10. The curtain came down on the publicly traded shares of Li & Fung Limited after 28 years on the Hong Kong stock exchange, as the century-old supply chain manager and logistics company is privatised by a consortium including its controlling shareholders.Shares of Li & Fung, which rose 2.5 per cent to HK$1.24 two days before their May 15 trading halt, were delisted today from the local exchange, closing another chapter in the 114-year-old company’s history. The stock was listed in Hong Kong in…