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Huawei Technologies maintained “steady” recovery momentum in 2025, with its profit rising 8.6 per cent, as the Chinese telecommunications gear maker doubled down on chip development and smartphones in defiance of US sanctions. Net profit came in at 68 billion yuan (US$9.8 billion) last year, compared with 62.6 billion yuan a year earlier, according to the Shenzhen-based company's annual report released on Tuesday. Total revenue in 2025 reached 880.9 billion yuan, up 2.2 per cent from 862.1......

Hong Kong has retained its top position in terms of initial public offering (IPO) funds raised in the first quarter of this year but industry experts said the city could lose its lead to the US over the full year given the number of mega IPOs expected there, from OpenAI to Elon Musk's SpaceX. A total of 37 companies raised about US$13.26 billion on the Hong Kong stock exchange's main board in the three months ended March 31, according to data released on Tuesday by LSEG Data and Analytics. That......

China's southern tech hub Shenzhen began operations of the country's first 10,000-card intelligent computing cluster, built with advanced chips made by Huawei Technologies, in the latest sign of how the country is deepening its push for home-grown computing capabilities. Featuring a computing capacity of 11,000 petaflops, the new cluster, activated last week, is the country's first 10,000-card intelligent computing cluster built with Huawei's Ascend 910C AI chips, according to Shenzhen Special......

Chinese artificial intelligence company Zhipu AI posted worse-than-expected annual revenue growth in its first earnings report since its initial public offering (IPO) in Hong Kong in December. Revenue rose 131.9 per cent year on year to 724.33 million yuan (US$104.8 million) for the year ended December 2025, the Beijing-based company said on Tuesday, lagging an estimate of 756 million yuan by analysts polled by Bloomberg. Total losses soared 59.5 per cent to 4.72 billion yuan driven by mounting......

Apple's accidental roll-out on Tuesday of its highly anticipated Apple Intelligence feature in mainland China – which has yet to receive regulatory approval – before swiftly pulling it could raise the ire of regulators and expose the US tech giant to potential penalties, an industry expert warned. The brief release could have violated local rules on artificial intelligence security evaluations, algorithm filings and data protection, according to You Yunting, a Shanghai-based intellectual......

Hong Kong homebuyers snapped up new launches on Tuesday as developers accelerated sales amid concerns over slower rate cuts and geopolitical tensions in the Middle East. By about 3.50pm, all 254 flats released at the La Mirabelle project in Tseung Kwan O had been sold, according to market agents. La Mirabelle in Harbour Bay – jointly developed by Sino Group, Kerry Properties, K. Wah International, China Merchants Land and MTR Corporation – is to be developed in two phases, each comprising about......

Chinese and Hong Kong shares suffered their worst month since January 2024 as the war on Iran upended global oil markets and spurred economic concerns. The mainland CSI 300 lost 5.5 per cent in March, while Hong Kong's Hang Seng Index dropped 6.9 per cent. Both indexes also fell for the second quarter in a row. The broader MSCI Asia-Pacific Index plunged 12 per cent in US dollar terms in March, its biggest monthly loss in more than three years. Stocks have fallen around the world since Iran shut......

South Korea has become a focal point of Asia's petrochemical crisis, a frontline economy suddenly forced to navigate the fallout from the Middle East turmoil while scrambling for alternatives. Its semiconductor and industrial sectors, already heavily dependent on imported naphtha, are now exposed to geopolitical shocks that are rippling across the region. South Korea relies on imports for about 45 per cent of its naphtha demand. About 77 per cent of those come from the Middle East. On Monday,......

EnerVenue – a rechargeable battery start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit – has raised US$300 million in its latest round of financing and appointed a new CEO to accelerate the large-scale industrial deployment of its cutting-edge energy storage technology. The California-based company – which also counts government-backed Hong Kong Investment Corporation (HKIC) as an investor – said it would set up a regional headquarters in the city......

In 2022, a report by the Organisation for Economic Co-operation and Development showed that less than 10 per cent of global plastic waste was recycled. Other research, published in Nature, showed that of the 400 million tonnes (440 million US tons) of plastic produced that year, fewer than 38 million came from recycled sources. In China, where about one-third of the world's plastic is produced, the materials science company Dow is testing its new Track and Trace Platform in collaboration with......

With Chinese coffee brands eyeing overseas expansion, analysts said those seeking to succeed as global players must move beyond low-price strategies and a narrow focus on operational efficiency. “Overseas consumers have long associated Chinese brands mainly with cost performance,” said Fu Yifu, a special research fellow at Su Merchants Bank in Nanjing, in the eastern Jiangsu province. “To succeed globally, the core is to build a presence rooted in China's operational efficiency while blending......

[The content of this article has been produced by our advertising partner.] Hong Kong's financial sector is entering a new phase of digital transformation. Cloud infrastructure is rapidly becoming foundational to modern banking operations, supporting everything from digital platforms to fintech collaboration and data-driven financial services. The pace of adoption is notable. The Hong Kong Monetary Authority (HKMA) has observed that cloud-related initiatives now account for roughly 80 per cent......

Nasdaq-listed iQiyi, a Chinese online entertainment video provider backed by Baidu, has submitted a confidential application for a listing in Hong Kong, the company said on Monday. Details of the proposed listing have yet to be finalised, the company said, pending regulatory approvals from the Hong Kong stock exchange and the China Securities Regulatory Commission, as well as the company's own final decision. “There is no assurance that the proposed listing will take place or when it may take......

Biren Technology and Iluvatar CoreX, two Chinese graphics processing unit (GPU) champions that are seen as potential alternatives to Nvidia, saw their revenues surge in 2025 amid China's accelerated push for chip self-sufficiency, according to their first earnings reports since listing in January. Biren's annual revenue surged 207.2 per cent from a year ago to 1.03 billion yuan (US$149 million), beating the consensus estimate of 954.5 million yuan, while its crosstown rival Iluvatar CoreX posted......

Chinese tech giants Xiaomi and Alibaba Group Holding have launched spring recruitment drives amid fierce competition for the talent driving the global artificial intelligence boom. The campaigns come as the smartphone and e-commerce giants, respectively, look to increasingly position themselves as AI-first firms, amid growing commercial pressures in their traditional businesses. In a Weibo post on Monday, Xiaomi founder and CEO Lei Jun said the company's global recruitment campaign would target......

Hong Kong will roll out a fully digital, paperless stock market from November 16, a move aimed at boosting efficiency and strengthening the city's competitiveness, the market regulator said on Monday. About 2,600 listed companies will transition to the new system in phases over five years after the launch, while firms going public after November 16 would no longer issue physical share certificates, according to the Securities and Futures Commission (SFC). Investors will still be able to retain......

The Hong Kong University (HKU) will begin a roadshow this week to gauge investor interest in a landmark bond programme that could raise up to HK$3 billion (US$385 million) to fund its planned expansion in the Northern Metropolis, according to people familiar with the matter. Scores of banks, insurance and pension companies and fund managers were invited to attend roadshows arranged by bankers including HSBC Holdings over the coming days, one source told the South China Morning Post on......

China's pig prices have plunged to their lowest level in nearly eight years, as the country struggles to deal with a persistent supply glut triggered by the spread of huge industrial farms and a post-holiday drop in meat consumption. Live pigs were selling for 11.05 yuan (US$1.60) per kilogram on average during the third week of March, down 2.9 per cent from the previous week and 28 per cent from a year earlier, data from China's Ministry of Agriculture and Rural Affairs showed. Prices are now......

China is seeing surging public interest in science fiction amid its push for technological development, with revenues reaching a record high and online search traffic more than tripling last year, according to a new report. China's sci-fi industry saw its gross revenues reach 126.1 billion yuan (US$18.2 billion) in 2025, up 15.7 per cent year on year, according to an annual report released at the China Science Fiction Convention on Friday, as reported by Xinhua. The report also highlighted a......

Manycore Tech, a Hangzhou-based developer of spatial design software, has passed its listing hearing in Hong Kong, moving a step closer to an initial public offering (IPO) as it pushes deeper into what it calls “spatial intelligence” – the integration of artificial intelligence with the physical world. The company is one of Hangzhou's “Six Little Dragons” – a group of rising start-ups that includes AI developer DeepSeek, robotics firms Unitree Robotics and Deep Robotics, Black Myth creator Game......