Chinese discount e-commerce giant PDD Holdings, operator of Temu and Pinduoduo, faces increased profitability challenges amid US President Donald Trump’s trade policies and heightened competition in its home market, according to analysts. PDD on Tuesday reported a 47 per cent slump in first-quarter earnings amid slower sales growth, with results trailing market consensus. PDD’s Nasdaq-listed […]
Chinese smartphone maker Honor has joined the country’s heated race to develop robots, as it aims to reposition itself as an artificial intelligence (AI) player amid heightened competition in the Android handset market. Honor said on Wednesday that it would develop its own robots, and that it had already helped Chinese start-up Unitree Robotics break
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In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and
Xiaomi’s first-quarter revenue surged nearly 50 per cent, as the Chinese smartphone giant doubled down on new initiatives, including electric vehicles (EVs) and semiconductors. Revenue for the three months ended March 31 reached 111.2 billion yuan (US$16.46 billion), up 47.4 per cent year on year, the company said on Tuesday. Adjusted net profit reached a
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