China Northern Rare Earth's (SHA:600111) net profit attributable to shareholders in the first quarter surged 113% year on year to 917.7 million yuan from 430.6 million yuan a year earlier, according to a Shanghai bourse filing on Wednesday.
Earnings per share rose 0.25 yuan from 0.12 yuan.
Operating revenue jumped 28% to 11.9 billion yuan from 9.29 billion yuan in the previous year.
Shares of the company rose 10% during the morning trade on Wednesday.
Shenzhen Dobot (HKG:2432) completed the A share listing filing to go public in China, the firm said in a statement to the Hong Kong bourse Monday.The robotics services company's shares fell nearly 1% in late morning trade Tuesday.The firm submitted application materials in regards to the proposed A share offering on the ChiNext Market of the Shenzhen Stock Exchange.The filing was accepted by the exchange, the firm said.
Daido Group (HKG:0544) aims to raise net proceeds of about HK$11.4 million through a subscription of new shares under its general mandate, according to a Monday Hong Kong bourse filing.Shares of the warehouse, logistics, and trading company rose nearly 14% in morning trade Tuesday.The company agreed to issue about 5.8 million subscription shares at HK$2.00 each.The subscription price represents a premium of about 13.6% to the stock's last close and about 14.3% to the five-day average closing price, the filing showed.Proceeds will be used mainly for debt repayment and general working capital.
Nine Entertainment (ASX:NEC) shares fell nearly 1% in recent Tuesday trade after the Australian government opened a consultation on draft legislation to establish a News Bargaining Incentive, a policy framework designed to force major digital platforms like Meta, Google, and TikTok to pay for Australian news content.Nine Entertainment is the publisher of The Australian Financial Review and has a current commercial agreement with Google, according to an AFR report.In a Tuesday statement announcing the consultation, the government said it encourages digital platforms to enter commercial deals with news publishers "as the preferred model." However, platforms who decide not to do so will be required to pay a charge as a proportion of their revenue, with the collected levies distributed back into the news media sector.The initiative, which comes after Meta said it would not renew its commercial deals, proposes a 2.25% tax on the revenue of tech companies that do not negotiate agreements, AFR reported.Submissions on the government's consultation close on May 18.