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05.02.26 - 12:00
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China′s Meituan snaps up Dingdong to deepen push into fresh grocery retail (SCMP)
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China's food delivery giant Meituan said on Thursday that it had agreed to acquire Dingdong, a leading on-demand commerce platform in China specialising in fresh groceries.
Meituan will purchase all issued shares of Dingdong Fresh Holding, which is wholly owned by New York-listed Dingdong (Cayman) Limited, for an initial consideration of US$717 million, subject to adjustments, according to a filing with the Hong Kong stock exchange.
The deal is subject to conditions including antitrust clearance......
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05.02.26 - 03:18
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Alibaba, Kuaishou, SMIC drop in Hong Kong tech-stock sell-off as AI fears grip (SCMP)
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Hong Kong stocks fell on Thursday in a technology sell-off as investors grew increasingly jittery about stretched valuations, heavy spending and worries about how artificial intelligence could undermine traditional business models.
The Hang Seng Index lost 0.8 per cent to 26,627.95 at the open, erasing the 0.1 per cent gain a day earlier. The Hang Seng Tech Index fell 1.8 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index lost 0.7 per cent.
Technology leaders......
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04.02.26 - 15:42
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From chatbots to replays: Alibaba rolls out AI suite for 2026 Winter Olympics (SCMP)
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Alibaba Cloud, the cloud computing and artificial intelligence arm of Alibaba Group Holding, has unveiled a suite of AI-powered tools for the Milano Cortina Winter Games, marking the first time a large language model (LLM) will be embedded into the Olympics' digital infrastructure.
The partnership between Alibaba Cloud, Olympic Broadcasting Services and the International Olympic Committee (IOC) was announced on Wednesday.
Alibaba's Qwen model will power “Olympic AI Assistants”, a digital system......
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