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10 stories mentioning HKG:9618

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Asia

Hong Kong Stocks Slide Amid US Sanctions, Middle East Escalation; Alibaba, JD.com Fall on Regulatory Scrutiny

Hong Kong stocks extended losses Thursday as fresh U.S. sanctions on China- and Hong Kong-linked entities over alleged ties to Iran's military and escalating tensions in the Middle East weighed on sentiment.The Hang Seng Index fell 0.7%, or 158.67 points, to close at 24,249.29, while the Hang Seng China Enterprises Index dropped 1.2%, or 101.65 points, to finish at 8,217.08.The U.S. government on Wednesday imposed sanctions on 11 individuals and entities, including several in China and Hong Kong, for allegedly supporting weapons procurement for Iran's Islamic Revolutionary Guard Corps and military.Nine of those targeted were China- and Hong Kong-based individuals and companies, while another Hong Kong firm was accused of operating within Iran's covert banking network, according to the U.S. Treasury.Meanwhile, Washington launched a fresh round of strikes against multiple targets in Iran, according to the U.S. military, prompting Tehran to announce the full closure of the Strait of Hormuz.In corporate news, Alibaba (HKG:9988) closed over 5% lower after Beijing regulators called in major e-commerce platforms over alleged misleading promotions during the annual "618" shopping festival.JD.com (HKG:9618) closed nearly 3% lower after being named among the platforms summoned by regulators.

Hang SengHKG:9618HKG:9988
Asia

Market Chatter: Beijing Regulator Summons Alibaba, JD.com Over Discount Promotions

Beijing's branch of the State Administration for Market Regulation summoned several major e-commerce platforms over what officials described as misleading promotional practices during the annual "618" shopping festival, according to a report on Thursday by state broadcaster CCTV.The platforms included Alibaba's (HKG:9988) Taobao and Tmall, JD.com (HKG:9618), PDD Holdings' Pinduoduo, ByteDance's Douyin, and Xiaohongshu.The regulator criticized some platforms for advertising "10 Billion Yuan Subsidy" campaigns that appeared to promise tens of billions of yuan in consumer discounts, the report said.Taobao, Tmall, and JD.com were cited for failing to provide details of the actual subsidy amounts offered during the campaign, as well as the respective contributions made by the platforms and participating merchants, according to CCTV.Shares of Alibaba were down nearly 6% in Thursday's afternoon trade, while JD.com was down nearly 4%.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9618HKG:9988
Asia

Market Chatter: DeepSeek to Raise 50 Billion Yuan in Pilot Funding Round

DeepSeek seeks to raise about 50 billion yuan in its first funding round, potentially valuing the Chinese artificial intelligence startup between 350 billion yuan and 400 billion yuan, Reuters reported Wednesday, citing sources.Tencent (HKG:0700) and Contemporary Amperex Technology (SHE:300750, HKG:3750) are expected to become the biggest investors in the fundraising as they are considering injecting 10 billion yuan and 5 billion yuan, respectively, the report said.The AI firm is in discussions with China's national artificial intelligence fund, as well as NetEase (HKG:9999) and JD.com (HKG:9618), to participate in the fundraising, according to Reuters.DeepSeek's founder, Liang Wenfeng, pledged to inject 20 billion yuan into the startup, sources reportedly told the media outlet.DeepSeek, Tencent and CATL are yet to respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700HKG:3750HKG:9618HKG:9999SHE:300750
Asia

Market Chatter: BYD, JD.com-Backed PaXini Technology Mulls Hong Kong IPO

PaXini Technology, a Chinese developer of dexterous robotic hands and humanoid robots, is weighing an initial public offering in Hong Kong, Bloomberg News reported Wednesday, citing people familiar with the matter.The BYD (HKG:1211, SHE:002594)- and JD.com (HKG:9618)-backed company is working with advisers and could submit a listing application in the coming months, according to the report.Key details, including the size and timing of the offering, are still under discussion and have yet to be finalized, Bloomberg said.PaXini raised more than 1 billion yuan in a March funding round, valuing the company at more than 10 billion yuan, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengHKG:1211HKG:9618SHE:002594
Asia

Market Chatter: JD.com Considering Bid for British Retailer Very Group

China's JD.com (HKG:9618) is considering a 2 billion pound bid for British online shopping platform The Very Group, Reuters reported Friday, citing a Sky News report.The firm previously tried to expand in the UK with its failed takeover bid for Currys and walked away from talks to acquire Argos from Sainsbury's last year.Carlyle, the owner of The Very Group, has reportedly been seeking to sell the British retailer since January.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9618
Asia

Market Chatter: US Approves Sale of Nvidia's H200 Chips to China, But Zero Deliveries Made

Despite U.S. clearance for 10 Chinese companies, including Alibaba Group (HKG:9988), Tencent Holdings (HKG:0700) and ByteDance to buy Nvidia H200 chips, zero deliveries have been made to date, Reuters reported Thursday. citing three people familiar with the matter.While the U.S. Commerce Department approved sales of up to 75,000 units per company, Beijing has reportedly told local companies to stall purchases.Other companies that secured licenses to buy Nvidia chips include JD.com (HKG:9618), Lenovo (HKG:0992) and Hon Hai Precision Industry (TPE:2317) or Foxconn, the report said.Nvidia CEO Jensen Huang expects U.S. President Donald Trump and Chinese President Xi Jinping to build on their good relationship during the US-China summit to improve ties, Huang told Chinese state broadcaster CCTV on Thursday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700HKG:0992HKG:9618HKG:9988TPE:2317
Asia

JD.com Q1 Attributable Net Income Down; Revenue Up

JD.com (HKG:9618) recorded a decline in attributable net income in the first quarter to 5.1 billion yuan from 10.89 billion yuan a year prior.Net income per share slipped to 1.77 yuan from 3.59 yuan, according to a Tuesday Hong Kong bourse filing. Net income per American depositary share declined to 3.54 yuan from 7.19 yuan.The Chinese e-commerce giant's total net revenue for the three months rose to 315.69 billion yuan from 301.08 billion yuan in the year-ago period.

HKG:9618
Asia

China's Major Food Delivery Platform Could Reconsider Subsidies Amid Regulatory Fines, S&P Says

Regulatory fines on China's major food delivery platforms could lead to players veering away from subsidies and instead adopt efforts focusing on quality, S&P Global Ratings said in a Monday release.The fines point to authorities' efforts to tone down heightened competition, or involution, in the segment, S&P said.The regulatory move will enable major players such as Meituan (HKG:3690), Alibaba (HKG:9988), and JD.com (HKG:9618) to focus on quality rather than on subsidies, which could lead to better profits after a decline last year, the rating agency said.However, long-term impact will depend on whether the rule will be thoroughly enforced, S&P said.

Shanghai Composite^SZSEHKG:3690HKG:9618HKG:9988
Asia

Heightened Competition in China's On-Demand Delivery Segment Raises Risk of Lingering Price War, S&P Says

Continued elevated competition between major companies in China's on-demand delivery market raises the risk of a persistent price war amid a delay in subsidy reductions until 2028, S&P Global Ratings said in a recent release.These create adverse conditions for all players, S&P said.Major platform operators Meituan (HKG:3690), JD.com (HKG:9618), and Alibaba Group Holding (HKG:9988) have allocated significant spending to seize a share of the on-demand delivery markets, such as food and online retail, S&P senior analyst Jay Lau said.These fast-paced segments account for more than 6% of China's retail sector, S&P said.The negative impact of the price war will be greater than expected, continuing the negative trend on major players' EBITDA since 2025, Lau said.

Shanghai Composite^SZSEHKG:3690HKG:9618HKG:9988
Asia

JD.com Sells 10 Billion Yuan Bonds

JD.com (HKG:9618) completed the offering of 10 billion yuan of bonds divided into two types, according to a Friday Hong Kong bourse filing.Of the total, 7.5 billion yuan of bonds carry a 2.05% interest rate and will fall due 2031, while the remaining 2.5 billion yuan 2.75% bonds will mature in 2036.The e-commerce giant will use proceeds for general corporate purposes, including the repayment of debt and interest.The listing of and permission to deal in the bonds on the Hong Kong bourse will become effective April 13.

HKG:9618