Ant Group

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Former ByteDance executive takes helm at Baidu-backed Shengshu amid generative AI boom

A former ByteDance executive has joined Shengshu AI as CEO, marking a significant hire by one of China’s leading artificial…

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Bubble tea giant Mixue’s IPO powered by prowess in procuring, production, prices: analysts

The retail portion of the company’s Hong Kong debut attracted more than HK$1.6 trillion (US$205.9 billion) in subscriptions on Wednesday,…

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HSBC cutting 900 staff at China digital wealth unit Pinnacle, sources say

HSBC reiterated its commitment to mainland China as a “priority market” after two sources said the lender was reducing staff…

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New Business

Retail portion of Mixue’s IPO sets record with nearly US$206 billion in subscriptions

The retail portion of the Hong Kong initial public offering (IPO) for China’s largest fresh-drinks chain, Mixue Group, attracted more…

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Alibaba investors hail e-commerce giant’s AI pivot as it plots major investment outlay

Alibaba’s Hong Kong-listed shares surged 15 per cent to close at HK$138.50 on Friday, following an 8 per cent gain…

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Beijing’s schmoozing of China’s private sector a strategic move, analysts say

Beijing is repositioning the private sector as the cornerstone of China’s global competitiveness and technological edge in the face of…

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Chinese spatial design firm Manycore Tech files for IPO in Hong Kong

Chinese start-up Manycore Tech, operator of the world’s largest spatial design platform, has applied for an initial public offering (IPO)…

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JD.com launches gifting feature to compete with Alibaba, Tencent ahead of Lunar New Year

Chinese e-commerce platform operator JD.com on Friday introduced a gifting feature on its mobile app, joining rival Alibaba Group Holding…

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AI set to reshape the world, Alibaba founder Jack Ma tells Chinese rural teachers

In a video speech posted on the social-media account of his eponymous foundation to mark the 10th anniversary of a…

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New Business

Chinese fintech giant Ant denies imminent restart of IPO process

Ant Group, the fintech affiliate of Alibaba Group Holding, said it had no immediate plans to revive its initial public…

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