Chris Liu
The Latest
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OpenAI Shakeup: CEO Sam Altman Ousted, President Greg Brockman Resigns
In a startling development at OpenAI, CEO Sam Altman has been removed from his position, leading to the subsequent resignation of President and Co-Founder Greg Brockman. The AI research lab announced Altman's departure following a board review that questioned his transparency and communication, shaking the foundations of one of the most influential companies in the artificial intelligence sector. 
In a startling development at OpenAI, CEO Sam Altman has been removed from his position, leading to the subsequent resignation of President and Co-Founder Greg Brockman. The AI research lab announced Altman's departure following a board review that questioned his transparency and communication, shaking the foundations of one of the most influential companies in the artificial intelligence sector. -
Alibaba Grapples with Market Challenges Amid Co-Founder Jack Ma's Affirmation
Jack Ma, Alibaba's co-founder, has affirmed his confidence in the company despite recent challenges, as reported by the South China Morning Post. In response to a regulatory filing indicating the sale of 10 million American Depository Shares by his family trust, Ma's office clarified that this phased sale was part of a "preset conditional plan for a partial sell-down for the future" established in August. 
Jack Ma, Alibaba's co-founder, has affirmed his confidence in the company despite recent challenges, as reported by the South China Morning Post. In response to a regulatory filing indicating the sale of 10 million American Depository Shares by his family trust, Ma's office clarified that this phased sale was part of a "preset conditional plan for a partial sell-down for the future" established in August. -
Alibaba Shares Slide as Cloud Spinoff Halted, First-Ever Dividend Announced Amid US Chip Curbs
Alibaba Group Holding Ltd. experienced a significant setback as its shares tumbled following the announcement that it would halt the spinoff of its cloud division, a decision influenced by recent US chip export restrictions. This move marks a deviation from Alibaba's ambitious overhaul strategy and raises questions about its future growth prospects. 
Alibaba Group Holding Ltd. experienced a significant setback as its shares tumbled following the announcement that it would halt the spinoff of its cloud division, a decision influenced by recent US chip export restrictions. This move marks a deviation from Alibaba's ambitious overhaul strategy and raises questions about its future growth prospects. -
Xiaomi Revs Up the Auto Market: Its Luxurious 'Dream Car' SU7 Unveiled
Two years after Lei Jun, Xiaomi's CEO, announced the company's venture into car manufacturing, calling it his "last major entrepreneurial project," every move of Xiaomi in the automotive sector has garnered significant market attention. 
Two years after Lei Jun, Xiaomi's CEO, announced the company's venture into car manufacturing, calling it his "last major entrepreneurial project," every move of Xiaomi in the automotive sector has garnered significant market attention. -
Shein's Revenue Soars by 40% in First Three Quarters, Poised to Overtake Zara as Top Fast Fashion Brand
Shein, a fast-fashion brand, has reportedly seen a dramatic 40% increase in revenue in the first nine months of this year, reaching $24 billion, according to sources familiar with the matter reported by The Information. This growth has propelled Shein past H&M and potentially on track to surpass Zara. 
Shein, a fast-fashion brand, has reportedly seen a dramatic 40% increase in revenue in the first nine months of this year, reaching $24 billion, according to sources familiar with the matter reported by The Information. This growth has propelled Shein past H&M and potentially on track to surpass Zara. -
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.
