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Chinese companies

Octocheck database gathers information on companies registered in China and Hong Kong. The size of the database is growing each day and new territories will be covered soon.

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Latest Economic news from China

Tencent Invested In Dozens Of Failed Firms And Its Lessons Learned

In its Q3 financial report, Tencent’s investment income is very eye-catching. After adjustment in accordance with non-IFRS, as of September 30, 2020, Tencent’s total income from investment companies reached RMB32.3 billion yuan. As of November 5, 2020, Tencent has invested in more than 790 companies. Among them, there are many listed companies that may bring Tencent Invested In Dozens Of Failed Firms And Its Lessons Learned comes from China Money Network: Primary Data for China's Primary Markets! All Rights Reserved.

2020-11-20 02:04:21

Facebook probe in final stages as FTC, dozens of US states prepare to sue social media giant

The Federal Trade Commission and a bipartisan group of dozens of state attorneys general are in the final stages of filing one or more major antitrust complaints against Facebook in early December, according to four sources familiar with the situation.FTC staff undertaking a probe of the company has recommended to commissioners that they sue the social media company in federal court, which would allow the group of states, led by New York, to join the lawsuit, according to one source.As many as…

2020-11-20 01:52:30

Chinese Truck Logistics Firm Zeyi Raises RMB600 Million

On November 20, Zeyi Supply Chain officially completed nearly RMB600 million yuan in Series C financing. The lead investor in this round of financing was Cornerstone Capital and Orchid Asia Group, who Jointly led the investment. Existing shareholder CICC Capital also participated in the investment. Zeyi Supply Chain was established in 2008 and is China’s Chinese Truck Logistics Firm Zeyi Raises RMB600 Million comes from China Money Network: Primary Data for China's Primary Markets! All Rights Reserved.

2020-11-20 01:25:07

China’s regulators put up a fence around risks as technology’s surging influence threatens to overshadow finance in fintech

This is the first of a five-part series looking at China’s fintech industry in the wake of regulators’ decision to suspend the initial public offering of Ant Group, which was widely expected to be the world’s biggest capital raising.Late at night on Monday November 2, a blog appeared in the official Sina.com account of the Chinese government’s mouthpiece news agency Xinhua, hours after regulators summoned executives of the world’s largest fintech company to tell them that the rules governing…

2020-11-19 23:00:24

Mystery buyer attempts to acquire major Convoy shareholder’s stake ahead of crucial vote, court ruling

A mysterious Nasdaq-listed company is trying to buy shares from a major shareholder of Convoy Global Holdings ahead of a crucial vote next week, adding a new twist to the lengthy power struggle between its owners.AGBA Acquisition, a Hong Kong-headquartered company founded in 2018 which was listed in Nasdaq in May last year, is attempting to acquire second-largest shareholder Kwok Hui-kwan’s entire 29.91 per cent stake in Convoy Global Holdings, according to two sources.The deal is still in the…

2020-11-19 13:52:39

China dumps US Treasuries for fifth consecutive month, sending holdings to lowest level since February 2017

China’s holdings of US government debt have fallen to their lowest level since February 2017, following a fifth successive month of net US Treasury sales in September, according to a US government report.China sold US$6.22 million of US Treasury securities in September, lowering its total holdings to US$1.062 billion, according to the latest monthly Treasury International Capital (TIC) report from the US Department of the Treasury.Analysts cautioned that the reduction in China’s US Treasury…

2020-11-19 13:00:15

China tweaks global yuan strategy in signal of growing caution

China has tweaked one word in its policy to internationalise the yuan, a change that analysts see as a sign of Beijing’s new-found caution in promoting the international use of the currency.In a communique outlining the country’s next five-year plan for 2021-25, China’s Central Committee said it would “steadily and prudently” promote the internationalisation of the yuan, a change from the previous wording that only included “steadily”.The slight adjustment, from Wenbu to Wenshen in Chinese,…

2020-11-19 12:00:21

Hong Kong retailers Sa Sa and TSL Jewellery shift focus to e-commerce, mainland China to survive coronavirus pandemic

With the coronavirus pandemic and recession deepening the sales slump, leading Hong Kong retailers are adapting to the new normal by seeking growth in mainland China and via online channels while closing stores and pursuing bigger rent concessions.“Covid-19 has brought enormous challenges and evolution to the entire retail industry as well as to Sa Sa,” Simon Kwok, chairman and chief executive of Sa Sa International Holdings, said on Thursday after the cosmetics retailer posted deeper losses. “…

2020-11-19 11:43:42

China Singles’ Day: do record sales really show a rebound in consumer spending?

Chinese consumers may have spent a record amount during the annual Singles’ Day shopping extravaganza early in November, but experts are split over whether it shows an acceleration in consumer spending following the coronavirus pandemic or simply savvy shoppers taking advantage of cutthroat deals.Touted as the world’s biggest online shopping spree, Chinese splurged 769.7 billion yuan (US117.2 billion) this year on everything from jewellery to houses, in what some say is evidence of a strong…

2020-11-19 11:00:21

Futu Holdings Limited 2020 Q3 Unaudited Financial Report: Gross Profit Soars by 314.1%

Futu Holdings Limited Thursday published its unaudited financial report for the third quarter ended Sept. 30, showing soaring gross profit and surging non-GAAP adjusted net income. Read: Futu Holdings Limited 2020 Q3 Unaudited Financial Report: Gross Profit Soars by 314.1% on Pandaily.

2020-11-19 10:55:51

Vivo Launches OriginOS at 2020 Developer Conference

Vivo revealed its new Android operating system OriginOS at the 2020 Developer Conference. OriginOS offers an array of original features and different customization options. Read: Vivo Launches OriginOS at 2020 Developer Conference on Pandaily.

2020-11-19 09:44:31