Jerry Lin
The Latest
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Alibaba's Entertainment Division Turns Profit in Q2 2023, Driven by Offline Performance Revival
On August 10, Alibaba Group released its first financial report after its split. For the second quarter of 2023, Alibaba's entertainment division, encompassing Youku, Alibaba Pictures, and Damai, reported a swing from a loss to a profit, with revenues reaching 53.81 billion yuan, a year-on-year increase of 36%. The adjusted net profit stood at 63 million yuan, a marked recovery from a net loss of 907 million yuan in the same quarter of the previous year. 
On August 10, Alibaba Group released its first financial report after its split. For the second quarter of 2023, Alibaba's entertainment division, encompassing Youku, Alibaba Pictures, and Damai, reported a swing from a loss to a profit, with revenues reaching 53.81 billion yuan, a year-on-year increase of 36%. The adjusted net profit stood at 63 million yuan, a marked recovery from a net loss of 907 million yuan in the same quarter of the previous year. -
Ferrari's Female Buyers in China Surpass 25%, Outpacing Other Regions
Over a quarter of Ferrari's new and pre-owned car buyers in China are women, a significant increase compared to other global markets. Despite previous comments from Ferrari's top brass that there would be no special designs targeted towards women, insiders report that in the last five years, female consumers have contributed to 26% of Ferrari's sales revenue in mainland China, notably higher than other regions. 
Over a quarter of Ferrari's new and pre-owned car buyers in China are women, a significant increase compared to other global markets. Despite previous comments from Ferrari's top brass that there would be no special designs targeted towards women, insiders report that in the last five years, female consumers have contributed to 26% of Ferrari's sales revenue in mainland China, notably higher than other regions. -
IEA Cuts Next Year's Oil Demand Forecast; OPEC+ Cuts May Further Drive Prices Up
The International Energy Agency (IEA) mentioned in its oil market report released on Friday that next year's oil demand growth is expected to decelerate more than previously forecasted, citing economic challenges, slower-than-anticipated economic recovery, and the rapid growth of the electric vehicle sector. 
The International Energy Agency (IEA) mentioned in its oil market report released on Friday that next year's oil demand growth is expected to decelerate more than previously forecasted, citing economic challenges, slower-than-anticipated economic recovery, and the rapid growth of the electric vehicle sector. -
Bytedance Overseas Growth Outpaces Domestic: Daily Active Users Reach 840M, Up 40% YoY
Bytedance sees exponential growth in its international business as domestic numbers slow. 
Bytedance sees exponential growth in its international business as domestic numbers slow. -
European Gas Prices Surge: Is a 40% Increase Just the Beginning?
European gas prices rocket amid potential Australian gas factory strikes. 
European gas prices rocket amid potential Australian gas factory strikes. -
OPEC Optimistic on Oil Demand Growth; Foresees Q3 Supply Shortfall of 2.2M Barrels Daily
OPEC's latest monthly report remains upbeat about the rise in global oil demand for the next two years. It highlighted that Saudi Arabia, the world's largest oil exporter, voluntarily cut production by 1 million barrels per day from July to September, leading to the most significant drop in oil inventories in two years. 
OPEC's latest monthly report remains upbeat about the rise in global oil demand for the next two years. It highlighted that Saudi Arabia, the world's largest oil exporter, voluntarily cut production by 1 million barrels per day from July to September, leading to the most significant drop in oil inventories in two years. -
Pandora Aims to Revamp Its Image in China: Will Celebrity Endorsements Do the Trick?
Danish fashion jewelry brand, Pandora, recently named American actress Ashley Park as its new global ambassador. Though initially unfamiliar to many, Park has gained recognition in China over the past two years for her role as Mindy in the hit American show "Emily in Paris." Park's Asian-American identity reflects Pandora's focus on both the U.S. and Chinese markets. 
Danish fashion jewelry brand, Pandora, recently named American actress Ashley Park as its new global ambassador. Though initially unfamiliar to many, Park has gained recognition in China over the past two years for her role as Mindy in the hit American show "Emily in Paris." Park's Asian-American identity reflects Pandora's focus on both the U.S. and Chinese markets. -
Alibaba's U.S. Stock Surges Pre-market with Stellar Q1 Earnings and 48% Net Profit Growth
After launching its "1+6+N" organizational transformation in March to maximize organizational vitality and productivity, Alibaba presented its first earnings report post-transformation, capturing significant market attention. 
After launching its "1+6+N" organizational transformation in March to maximize organizational vitality and productivity, Alibaba presented its first earnings report post-transformation, capturing significant market attention. -
Optimistic Earnings Boost European Stocks: Euro Stoxx 50 Climbs Over 1% with Luxury Brands Leading the Charge
On Thursday, August 10, just ahead of the U.S. CPI data release, European markets trended upward. Major indices such as the Euro Stoxx 50, France's CAC40, Italy's FTSE MIB, and Spain's IBEX rose by more than 1%. Meanwhile, Germany's DAX index experienced a more modest increase of 0.6%. 
On Thursday, August 10, just ahead of the U.S. CPI data release, European markets trended upward. Major indices such as the Euro Stoxx 50, France's CAC40, Italy's FTSE MIB, and Spain's IBEX rose by more than 1%. Meanwhile, Germany's DAX index experienced a more modest increase of 0.6%. -
Roblox Misses Profit Expectations, Shares Plummet 20%
On Wednesday, Roblox, once hailed as the "Metaverse's premier stock," unveiled its second-quarter results, which fell short of expectations. The company reported a loss of $282.8 million, up from a $176.4 million loss in the same period of 2022. Earnings per share were down to -$0.46, slightly below analysts' forecast of -$0.45. 
On Wednesday, Roblox, once hailed as the "Metaverse's premier stock," unveiled its second-quarter results, which fell short of expectations. The company reported a loss of $282.8 million, up from a $176.4 million loss in the same period of 2022. Earnings per share were down to -$0.46, slightly below analysts' forecast of -$0.45.
