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HKG:9988

68 stories mentioning HKG:9988Updated 7d ago

Every FINWIRES story that references HKG:9988, newest first.

Asia

Market Chatter: DeepSeek V4 Sparks Rush for Huawei's Ascend 950 AI Chips

ByteDance, Tencent (HKG:0700), Alibaba (HKG:9988) and other big Chinese firms are rushing to place orders for Huawei's Ascend 950 AI chips, Reuters reported Wednesday, citing people familiar with the matter.The surge in demand followed the release of DeepSeek's V4 artificial intelligence model that runs on said Huawei chips, according to the report.Sources said companies specializing in cloud computing and graphics processing unit rental services are also looking to secure orders, according to Reuters.(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:9988
Asia

Alibaba Receives HKEX Nod for Spin Off, Shenzen REIT Listing of Warehouse Park Assets

Alibaba Group (HKG:9988) received approval from the Hong Kong Exchange to spin off certain infrastructure assets into a real estate investment trust for listing on the Shenzhen Stock Exchange, according to a Monday disclosure.The underlying asset to be held by the proposed CICC Cainiao Logistics Warehouse Infrastructure REIT will be Jiaxing Park, a logistics and warehouse infrastructure park in Zhejiang province.Alibaba also obtained a waiver from HKEX, exempting it from distributing units in the REIT to existing shareholders. The company said it could not meet the requirement to either distribute units or offer preferential allocation to shareholders due to legal restrictions in mainland China.The spinoff remains subject to regulatory approval in China, the bourse filing stated.

HKG:9988
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

FAR International Appoints CFO

FAR International (HKG:2516) appointed Shi Dite as chief financial officer, effective Thursday, according to a same-day Hong Kong bourse filing.Shi, an executive director, has over two decades of experience in mergers and acquisitions and tax advisory, including roles at KPMG and Alibaba (HKG:9988), the filing said.

HKG:2516HKG:9988
Asia

Market Chatter: Alibaba, Tencent Explore Investment in DeepSeek

Alibaba (HKG:9988) and Tencent (HKG:0700) are in early-stage talks to back artificial intelligence firm DeepSeek, Reuters reported Wednesday, citing The Information.The startup, supported by High-Flyer Capital Management, is looking to raise fresh capital at a valuation above $20 billion, the report said.(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:9988
Asia

China Fines Food Delivery Operators for Failing to Vet Sellers

China's market regulator fined leading food delivery operators a total of 3.60 billion yuan for failing to filter out unqualified sellers, according to a notice released Friday.Among those fined are Alibaba's (HKG:9988)Ele.me, Taobao, and Tmall, TikTok's Douyin, as well as Pinduoduo and Meituan (HKG:3690), the State Administration for Market Regulation said.China also fined the legal representatives and food safety directors of the companies a total of 19.7 million yuan.The decision comes after a series of probes on so-called "ghost deliveries" in which merchants affiliated to delivery operators used fake locations and licenses, Bloomberg reported separately.

HKG:3690HKG: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

Market Chatter: Alibaba Unit to Launch Four-legged Robot

Alibaba Group's (HKG:9988) Amap unit is preparing to launch a four-legged robot that could compete with the likes of Unitree's Go series, Bloomberg News reported Tuesday, citing a company spokesperson.The firm is also exploring the feasibility of humanoid robots, according to the report.(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:9988

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