Chris Liu
The Latest
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WeChat Bolsters Profitability: WeChat Channels and Mini Games Emerge as High-Margin Revenue Sources
On the afternoon of November 15 (Beijing Time), Tencent released its financial report for the third quarter of 2023, showing a total revenue of 154.63 billion yuan, marking a 10% year-over-year increase. The net profit under non-U.S. GAAP was 44.92 billion yuan, up 39% from the previous year. However, Tencent's operating profit experienced a 6% decline compared to the same period last year. 
On the afternoon of November 15 (Beijing Time), Tencent released its financial report for the third quarter of 2023, showing a total revenue of 154.63 billion yuan, marking a 10% year-over-year increase. The net profit under non-U.S. GAAP was 44.92 billion yuan, up 39% from the previous year. However, Tencent's operating profit experienced a 6% decline compared to the same period last year. -
JD.com's Low-Price Strategy Pays Off, Net Profit Hits Record High in Q3, Shares Surge Over 6% Post-Market
In the post-market hours of November 15, JD.com (9618.HK) revealed its third-quarter financial results, showing a revenue of 247.7 billion yuan, a modest year-over-year increase of 1.7%. This growth rate marks a slowdown from the 7.5% increase seen in the previous quarter. The company's operating profit for the quarter was 9.3 billion yuan, up from 8.7 billion yuan in the same period last year. 
In the post-market hours of November 15, JD.com (9618.HK) revealed its third-quarter financial results, showing a revenue of 247.7 billion yuan, a modest year-over-year increase of 1.7%. This growth rate marks a slowdown from the 7.5% increase seen in the previous quarter. The company's operating profit for the quarter was 9.3 billion yuan, up from 8.7 billion yuan in the same period last year. -
Huawei's Meteoric Rise Fuels China's Smartphone Market Recovery
In an unexpected turnaround for China's mobile market, Huawei Technologies Co. and Xiaomi Corp. have significantly contributed to an 11% increase in the country's smartphone shipments in October. This growth, as reported by Counterpoint Research, marks a departure from several quarters of declining sales, hinting at a potential market rebound. 
In an unexpected turnaround for China's mobile market, Huawei Technologies Co. and Xiaomi Corp. have significantly contributed to an 11% increase in the country's smartphone shipments in October. This growth, as reported by Counterpoint Research, marks a departure from several quarters of declining sales, hinting at a potential market rebound. -
Foxconn Faces First Revenue Decline in Seven Years Amid iPhone Slump
Foxconn, the world's largest manufacturer of iPhones, is bracing for its first annual revenue decline since 2016, attributed to disappointing sales of the iPhone 15 series. On November 14, Foxconn's parent company, Hon Hai Precision Industry Co., Ltd., reported its third-quarter financial results, revealing a 12% year-over-year decrease in revenue to NT$1.54 trillion (about 348.04 billion yuan), slightly below the market expectation of NT$1.55 trillion. 
Foxconn, the world's largest manufacturer of iPhones, is bracing for its first annual revenue decline since 2016, attributed to disappointing sales of the iPhone 15 series. On November 14, Foxconn's parent company, Hon Hai Precision Industry Co., Ltd., reported its third-quarter financial results, revealing a 12% year-over-year decrease in revenue to NT$1.54 trillion (about 348.04 billion yuan), slightly below the market expectation of NT$1.55 trillion. -
Japanese Beauty Brands Struggle in China: Shiseido Reports Major Profit Drop
The Shiseido Group, a leading Japanese beauty company, is facing tough times. On November 10, the group released its financial report for the first three quarters of 2023, revealing a significant downturn in its performance. Net sales fell by 5.3% to 722.4 billion yen (approximately 347.52 billion yuan) compared to the same period last year, with an 8.9% decrease when calculated at a constant exchange rate. Although core operating profit saw a slight increase of 1.6% to 36.8 billion yen, the overall picture remains challenging. 
The Shiseido Group, a leading Japanese beauty company, is facing tough times. On November 10, the group released its financial report for the first three quarters of 2023, revealing a significant downturn in its performance. Net sales fell by 5.3% to 722.4 billion yen (approximately 347.52 billion yuan) compared to the same period last year, with an 8.9% decrease when calculated at a constant exchange rate. Although core operating profit saw a slight increase of 1.6% to 36.8 billion yen, the overall picture remains challenging. -
TSMC Sees Major Surge in Revenue: A New Dawn for the Semiconductor Industry?
Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker, reported a significant increase in October revenues, marking its first year-over-year growth since February. This development has sparked discussions about a potential turning point in the semiconductor industry. TSMC's stock price on the Taiwan Stock Exchange surged by more than 4.1% to 580 New Taiwan Dollars, the largest single-day gain since May. 
Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker, reported a significant increase in October revenues, marking its first year-over-year growth since February. This development has sparked discussions about a potential turning point in the semiconductor industry. TSMC's stock price on the Taiwan Stock Exchange surged by more than 4.1% to 580 New Taiwan Dollars, the largest single-day gain since May. -
E-Commerce Giants Slash Prices on 'Singles Day' Amidst Chinese Economic Slowdown
Amidst China's economic headwinds, the annual "Singles Day" shopping festival has become a battleground for e-commerce giants, reflecting deeper issues of consumer confidence and spending habits in the world's second-largest economy. Originally a 24-hour event on November 11, Singles Day has now evolved into weeks of promotions, both online and in physical stores, making it the globe's largest shopping festival. 
Amidst China's economic headwinds, the annual "Singles Day" shopping festival has become a battleground for e-commerce giants, reflecting deeper issues of consumer confidence and spending habits in the world's second-largest economy. Originally a 24-hour event on November 11, Singles Day has now evolved into weeks of promotions, both online and in physical stores, making it the globe's largest shopping festival. -
Legal Hurdles Mount for Apple in EU's $14 Billion Tax Clawback Attempt
In a crucial twist to Apple Inc.'s longstanding European legal saga, a key legal advisor has suggested that a prior judgment which favored the tech giant should be overturned, hinting at possible troubles ahead regarding the contentious $14 billion tax bill. 
In a crucial twist to Apple Inc.'s longstanding European legal saga, a key legal advisor has suggested that a prior judgment which favored the tech giant should be overturned, hinting at possible troubles ahead regarding the contentious $14 billion tax bill. -
Imagination Launches New GPU IP Targeting Cloud Gaming: A Game Changer?
On Nov. 8, Imagination Technologies, a British semiconductor design company, announced the launch of its new generation GPU IP, the IMG DXD, aimed at PC desktops and the cloud gaming market. 
On Nov. 8, Imagination Technologies, a British semiconductor design company, announced the launch of its new generation GPU IP, the IMG DXD, aimed at PC desktops and the cloud gaming market. -
Baidu's Strategic Chip Shift Underlines Broader Tech Realignment
In a strategic pivot underscoring the ripple effects of US export controls, Baidu Inc., one of China's AI vanguards, has taken a decisive step towards diversifying its supply chain away from American tech giant Nvidia. The Beijing-based internet conglomerate has placed a significant order for AI chips with Huawei Technologies, marking a departure from its historical reliance on Nvidia's processing hardware. 
In a strategic pivot underscoring the ripple effects of US export controls, Baidu Inc., one of China's AI vanguards, has taken a decisive step towards diversifying its supply chain away from American tech giant Nvidia. The Beijing-based internet conglomerate has placed a significant order for AI chips with Huawei Technologies, marking a departure from its historical reliance on Nvidia's processing hardware.
